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[currypasty] 19/1/2004 11:23

normal BTL IS liable to CGT, and cannot be 'rolled over' into another BTL.

plus, If you buy a property, 'do it up' and sell it (AKA all the TV programs), the IR could say you were 'trading' houses, and therfore liable for income tax on all the net gain.

[kayak] 19/1/2004 11:17

"In this country when you sell a property at a profit you avoid, or at least postpone paying C.G tax if you re-invest it into other property."

Do you?

Are you sure you are not getting confused with the fact that there is no CGT on a sale of your primary residence?

[neo anderson] 19/1/2004 10:12

Advice required please.

In this country when you sell a property at a profit you avoid, or at least postpone paying C.G tax if you re-invest it into other property.

What happens if you invest the money in overseas property?
Are you liable to pay the C.G tax on the profit you made from your sale in this country?

Regards

[losos] 02/8/2002 00:06

equaliser - Re. post 25 minimum references in future IMHO would be:-
a) Must be in employment, DO ring the firm and check, you might learn something useful about him
b) Must have a previous address which is NOT a doss house, again do ring or write and make sure
c) Must have bank account with funds equal to your notice period, again I believe as a business you can check this 'tho bank may not give you a precise figure.
All this will cost something (especially 'c') but it'll be worth it.

[equaliser] 01/8/2002 09:08

Hi all, a bit of an update for all those kind enough to express support and advice.

heading for 3 weeks now calls stopped and no police banging on the door.

I figure now this was a cash raising scam, thinking goes landlord has probably thrown my stuff away by now , so a threat to go to police and press charges of theft, but If you give me £x00 I will say no more.

much assumption on motives here but 2 distinct threats to go to police not carried out (or they don't care)
Anyway we have now drawn up the papers to sue in court for the back rent as soon as he stops hiding behind pay as you go mobile and public phone's .

The upside on all this my wife who runs the operation day to day will now be more carefull about who she lets in and the paperwork, the lack of which leaves us exposed to scum tricks like this.



Thanks for all your advice and support.

Eq

[brasseye114] 27/7/2002 00:15

Nicolas Van Hoogstratten would have been your man.He had way with "difficult" Tenants.
Unfortunately he`s rather busy shall we say,at the moment.

[kayak] 27/7/2002 00:03

CURRYPASTY, if they had posted the keys to you AND cleared the flat then you certainly would not need to wait until the notice was up or get a court order, you can re-let immediately. In fact either of the two on its own would be almost certain to cover you sufficiently. You are looking for evidence that they have terminated the letting agreement, and handing the keys back is traditionally viewed as just that. Clearing the flat confirms it but even an empty flat on its own would protect you sufficiently unless there were other factors which indicated they might come back. One can take this whole thing too far. If they have terminated the letting agreement then you are not evicting anyone.`

[xk8 man] 26/7/2002 20:54

sell it I had one which I let to DHSS to do my bit for society got kicked in the whatsits by the council & the tennants. can see why Nick Hoogy says there Maggots Bought a new XKR do the same and enjoy! cant take it with U if U can sort the tax out happy motoring I have shops & offices now on full repairing 12 year leases much sounder be happy

[equaliser] 26/7/2002 20:47

FSE

Thanks I thought it was you , but not 100% sure, credit added


Cheers
EQ

[harry kaplan] 26/7/2002 14:42

I sold off my property -- mixed feelings now that prices have shot up. Nevertheless I felt I was an employee of the local council housing benefit office! Rents fixed by them for anyone receiving benefit. Told what repairs must be done. Told what forms to fill in. Told what date a form must be in by. Told to pay back "overpaid benefit" by fraudster tenants. Told to pay Council Tax for houses in multiple occupation. Anyway, I now have a website if anyone with property to let wants to advertise on it. All for free at the moment.www.Lettings.ws.

[equaliser] 26/7/2002 13:13

Gopi

there was a posting on the BTL thread From FSE, (edit)

Went something like this 60% tenants are great 30% you could care less if they were there or not 10% you wish you had never met.

On this basis considering the turnover in 2.5 years ,then the bad ones are say sub 5% so could be worse. The 60 / 30 seems about right too.

It is a stress but I make it more so, as I will not give up on a point of principle, until severe pragmatism kicks in.

Eq

[gopi] 26/7/2002 13:01

equaliser,

I really feel for you. The law doesnt protect you the way it should ,and the law should really be changed to protect the victim and not the guilty party.

Makes me realise how lucky I have been. I dont know where your property is. But I have just sold a property in central london, after renting it out for 6 years.


I had about 6 lots of tenants during that time, and my policy was to screen the tenants myself, and only let out the property to people I felt I could trust. I also kept the rent reasonable, so they were grateful for that. It sounds like a completely different scenario to your situation, but I have never had a problem with any of them throughout the 6 years.

I dread to think what I would have done had I had to cope with your situation.

Best of luck to you.

[currypasty] 26/7/2002 11:43

I had a 'runner' a few years ago, exactly the same scenario. It was a huge property over a supermarket. I got a detactive to find where they had moved to, borrowed a truck, and took all their junk round to them. I bagged every last item up, including all the dog poo, and put the 3 truck loads on their front lawn. I never heard anything more.

I recently had another Tenant do a bunk, but this time they cleared out all their stuff. In that instance I served the 2 month notice, and served notice I required entry the following day, as a window had been left open. They had posted the keys, so ive taken that as their notice to quit, and re-let it. Technically I should have waited for the 2 months, and got an court order, but the probability is ill never see them again, especially by the heap of red enveloped on the doormat.

[stocktrader] 26/7/2002 10:47

Some very good advise on here, I agree take it on the chin and walk away.

I don't know if any of you can help. I used to have a link to somewhere that would list all ccj's in the public record, without running or paying for a full credit check. I have lost this link and can't find it anywhere.

[fse] 26/7/2002 08:33

errant tenants are an occupational hazard in this game.
I usually have a handfall of flats i rent out (out of the mkt as you know from the other threads)and I wont invest in rental properties unless the returns are sufficiently high enough to counter this type of effect.
I normally rented to a better quality tenant but you never know and once in a while one goes wrong.
My advice would be to cut your losses fast and distance yourself from this individual, on no account hold on to his property thats why he's left some stuff there.
You wont win the argument because the tenant has nothing of value.
Its a damage limitation exercise.
Walk away !

[march] 25/7/2002 23:18

Equaliser

I am obviously not familiar with your details but I also rent property and I would just move on, as Kayak has suggested. Avoid the show-downs and the legals, just not worth it.

The main objective of the landlord should be to protect his property asset and maximise income, not waste time, energy and money on some irrelevance

[kayak] 25/7/2002 15:52

BTW good luck with it equaliser, I know that it's not a nice situation to be in. The law often makes it difficult for justice to be done. Obviously a number of factors would work to your favour, e.g. his lack of communication and any lies he may have told in the past.

[equaliser] 25/7/2002 15:17

Cheers Kayak I thought he would still have the upper hand. no sign yet of civil action. My take on this is his tat is still stored and I would hand it over only when the police tell me to.
This is a long story and the police have been involved before in the past on this. They tell you specificaly what laws you have broken but to their credit they take a balanced view and threaten the erant tenant with a charge of fraud if his story is not correct.

So all considered I think you are correct all I have to do now is persuade the Wife as it is her that picks tenants runs the place and holds strong views on this.

Johnpaul1
no her indoors is too much on trust hence the isuess we have This informality is not a problem with the other tenants as they are short term non UK resident contract workers and would not be likely to stick on you.

This problem tenant is knowlagable and corrupt as he is up to some scam IMHO .
His 6 month absence might have been at Her majesty's pleasure so that might cramp his style. Have yet to hear from Police.

If it comes to a show down I just wonder what consideration will be given to lack off communication his when things are suiting him and the overall time scale.

Ps do start that web site Retailers have started one on shoplifters they publish photos and convictions might be a closed access site not public but this would help landlords to look out for the corrupt.

[johnpaul1] 25/7/2002 14:44

equaliser

sorry to her of this tale. i rent to similar tennants and am now much more aware of what to look for. did you take a bond from the guy ?

after such similar events happened to me, i flirted with the idea of starting a "landlords united" web page to log experiences of bad tennants. unfortunatley its on the back burner at the moment, although i did buy the above web name for a year.