13 Key Considerations to Evict a TenantMatt Angerer
So you found yourself a squatter, huh? Your dream of owning rental properties turned into a small nightmare. Well, it's time to get rid of that tenant! VerticalRent has your back. We've researched and documented 13 key consideration to evicting that tenant. Get to work!
Investment Property France: How to deal with a tenant who is not paying rent ...frenchleaseback1
The buyer would ideally been informed by a French lawyer in the process of french investment and acquiring properties for sale in France.
When buying an investment property in France, you don’t think the tenant could not pay rent. It happens sometimes with rental properties in France (French Alps, riviera, Paris …).
The rental income of this French property funds the payment of your mortgage. You have to move quick and efficient. Only a specialized lawyer in France can provide you with this results on the long term.
13 Key Considerations to Evict a TenantMatt Angerer
So you found yourself a squatter, huh? Your dream of owning rental properties turned into a small nightmare. Well, it's time to get rid of that tenant! VerticalRent has your back. We've researched and documented 13 key consideration to evicting that tenant. Get to work!
Investment Property France: How to deal with a tenant who is not paying rent ...frenchleaseback1
The buyer would ideally been informed by a French lawyer in the process of french investment and acquiring properties for sale in France.
When buying an investment property in France, you don’t think the tenant could not pay rent. It happens sometimes with rental properties in France (French Alps, riviera, Paris …).
The rental income of this French property funds the payment of your mortgage. You have to move quick and efficient. Only a specialized lawyer in France can provide you with this results on the long term.
Commercial Leases, Their Provisions and Pitfalls to Avoid (Series: Real Estat...Financial Poise
Like any other contract, the provisions of a commercial lease are negotiable. Yet, like so many contracts, commercial leases can be confusing to anyone who does not negotiate them for a living. This webinar explains many of the common provisions in a typical commercial lease (e.g. competition clauses, destruction/condemnation provisions, enforcement provisions, escalation clauses, purchase and renewal options, subletting and assignment provisions, use provision- just to name some examples) and discusses what is “market” with respect to them.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/commercial-leases-their-provisions-and-pitfalls-to-avoid-2020/
CGT rollover relief on marriage breakdown | Family Business Accountants | Wes...Craig Seddon
The effect of the roll-over relief is that the normal CGT rules don't apply in relation to the disposal, so there are no CGT consequences to the transferor.
The transferee acquires the asset with the same CGT nature which it had in the hands of the transferor.
https://www.westcourt.com.au
Recorded on June 13, 2012 - Getting evicted from a home is never pleasant. This webinar, intended for community workers, gives information on how to advise clients who are dealing with eviction. The webinar looks at who is a tenant, what tenants face when they receive an eviction notice, and the role of the Landlord and Tenant Board.
Watch this webinar at:
http://yourlegalrights.on.ca/webinar/and-out-evictions
Real Estate Law for Realtors by Landmark Law Professional Corporation, Ontari...Winnie J Luk
Real Estate Law for Realtors Seminar
by Winnie J Luk, Principal Lawyer, Landmark Law Professional Corporation, Ontario, Canada
Special Thanks:
D. Wong, T. Tong, R. Raaj, E. Tam
The Financial Function of Real Estate Property Management by LL RealtyLL Realty
LL Realty-Property management is the management of household, professional and industrial real estate including residences, separated houses, condominium units and shopping centers. Property management typically involves the managing of property that is owned by another party or entity. The property manager acts on behalf of the owner to protect the value of the property while generating income
The Benefits of Investing in Long Term Rental Properties Rather Than Short Te...Chuck Hattemer
Investing in long term rental properties comes with many important benefits that offer more stability than short term rental investments. Find out more here!
Commercial Leases, Their Provisions and Pitfalls to Avoid (Series: Real Estat...Financial Poise
Like any other contract, the provisions of a commercial lease are negotiable. Yet, like so many contracts, commercial leases can be confusing to anyone who does not negotiate them for a living. This webinar explains many of the common provisions in a typical commercial lease (e.g. competition clauses, destruction/condemnation provisions, enforcement provisions, escalation clauses, purchase and renewal options, subletting and assignment provisions, use provision- just to name some examples) and discusses what is “market” with respect to them.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/commercial-leases-their-provisions-and-pitfalls-to-avoid-2020/
CGT rollover relief on marriage breakdown | Family Business Accountants | Wes...Craig Seddon
The effect of the roll-over relief is that the normal CGT rules don't apply in relation to the disposal, so there are no CGT consequences to the transferor.
The transferee acquires the asset with the same CGT nature which it had in the hands of the transferor.
https://www.westcourt.com.au
Recorded on June 13, 2012 - Getting evicted from a home is never pleasant. This webinar, intended for community workers, gives information on how to advise clients who are dealing with eviction. The webinar looks at who is a tenant, what tenants face when they receive an eviction notice, and the role of the Landlord and Tenant Board.
Watch this webinar at:
http://yourlegalrights.on.ca/webinar/and-out-evictions
Real Estate Law for Realtors by Landmark Law Professional Corporation, Ontari...Winnie J Luk
Real Estate Law for Realtors Seminar
by Winnie J Luk, Principal Lawyer, Landmark Law Professional Corporation, Ontario, Canada
Special Thanks:
D. Wong, T. Tong, R. Raaj, E. Tam
The Financial Function of Real Estate Property Management by LL RealtyLL Realty
LL Realty-Property management is the management of household, professional and industrial real estate including residences, separated houses, condominium units and shopping centers. Property management typically involves the managing of property that is owned by another party or entity. The property manager acts on behalf of the owner to protect the value of the property while generating income
The Benefits of Investing in Long Term Rental Properties Rather Than Short Te...Chuck Hattemer
Investing in long term rental properties comes with many important benefits that offer more stability than short term rental investments. Find out more here!
Commercial landlords may encounter situations where a tenant’s rent payment is due and there is no sign of the check. Weeks may pass without any indication of whether rent will be paid.
Getting your house in order - tax planning for the new financial yearBolt Burdon
In this slide we focus on recent changes in tax law following the recent budget: the implications for you; what you need to be aware of; and the steps that can now be taken to mitigate tax.
REAL ESTATE LAW DUMBED DOWN 2022 - Representing the Commercial TenantFinancial Poise
A commercial tenant views a lease negotiation quite differently than does the landlord. As most leases tend to be drafted by the landlord, a tenant must begin an uphill battle to gain as many concessions as possible. This is an arduous task made easier by a full understanding of what are the most important issues for a tenant in a commercial lease transaction.
How does the financial profile of the tenant enter into the picture? Where can a tenant get hurt the most by hidden costs or unforeseen expenses? Why is “leverage” the most important concept to consider in this process? This webinar will help one understand how the tenant, generally the underdog in lease transactions, can turn the tables and become the most powerful player in the leasing game.
Part of the webinar series: REAL ESTATE LAW DUMBED DOWN 2022
See more at https://www.financialpoise.com/webinars/
When you rent a property, you can take advantage of expertise from the outset by using an RICS letting agent who follows the standards set out in the RICS UK Residential Property Standards.
A clear, impartial guide to Renting a property - For use in England, Wales and Northern Ireland.
My Home Buyers Guide is a valuable tool prepared to help you understand the complex process of buying a home in today’s market. My commitment is to put my extensive professional, technological and networking resources to work, in your best interest, to help you purchase the right home.
Guide to Understanding the Notice to Quit in ConnecticutezLandlordForms
Unlock the key to successfully navigating the Notice to Quit in Connecticut with this comprehensive guide. Whether you're a tenant or landlord, knowing your rights and responsibilities is essential. Click to learn more at https://articles.ezlandlordforms.com/state-landlord-tenant-law/connecticut-landlord-tenant-law-and-regulations/
A "File Trademark" is a legal term referring to the registration of a unique symbol, logo, or name used to identify and distinguish products or services. This process provides legal protection, granting exclusive rights to the trademark owner, and helps prevent unauthorized use by competitors.
Visit Now: https://www.tumblr.com/trademark-quick/751620857551634432/ensure-legal-protection-file-your-trademark-with?source=share
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
Buying and investing in the london property market
1. Buying and investing in the London
property market
Presented by
Sophie Shaladi
William Bethune
John Spence
Michael Culver
Darrell Webb
2. Today’s Topics
Things to consider when buying or selling an investment
property
Lease Extensions & Enfranchisement
Tenancies & Problem Tenants
Taxation & Estate Planning – Inheritance Tax, Domicile, Wills
Marriage Agreements
WE CANNOT GIVE FINANCIAL ADVICE OR ADVICE ON THE
PROPERTY MARKET.
3. Things to consider when buying or
selling an investment property
Sophie Shaladi
sophieshaladi@boltburon.co.uk
DD 0207 288 4798
4. The Basics
WHY?
Why are you investing?
Capital Growth vs Rental Yield (Net Rent /
Property Cost)
Annual Outgoings e.g. Insurance,
Maintenance, Service Charges, Void Periods
5. Purchase Considerations
Points to think about when searching for property:
Where is the property located?
Is there a ready supply of the ‘right’ tenants?
What is the rental market like in that area?
Buy to Let Mortgages
6. Legal Points
Does the lease prohibit letting or are there
fees payable?
‘Single Private Residence’
Renting rooms – House of Multiple
Occupation
7. Selling Your Property
Capital Gains Tax
Selling with the tenants still at the property
Getting your tenants out...
8. Managed or Self-Managed?
Different levels of letting arrangements
Percentage of the monthly rent taken
Who maintains the property?
Dealing with the ‘admin’
9. Lease Extension and
Enfranchisement
William Bethune
williambethune@boltburdon.co.uk
DD 020 7288 4743
10. Freehold and Leasehold
FREEHOLD PROPERTY:
• Is the highest class of property ownership in England and Wales.
• You own the building and the land upon which it is built
LEASEHOLD PROPERTY
• Comprises of an estate in land subject to a predetermined period of
ownership. Most flats are leasehold and will involve payments of ground
rent and service charge to the landlord.
• Typically for a term of 99 – 999 years. As the lease starts to decrease so too
does the value of the property. Leases with less than 80 years left are
difficult to sell and buyers are reluctant to consider these.
11. What are my options?
• A Lease extension – Statutory or Voluntary
• An application for Collective Enfranchisement
• Do nothing – You may simply decide to do
nothing. You may have plans to sell the
property in the future but be cautious. By
doing nothing you seriously undermine the
value of your estate and may give yourself a
headache on sale.
12. Statutory Lease Extension
• The 1993 Leasehold Reform Housing and Urban Development Act
provides a statutory framework in which to extend your lease.
Under the legislation you will automatically become entitled to a
lease extension of 90 years in addition to the unexpired term. The
ground rent will be reduced also to a peppercorn (nil).
• To qualify under the 1993 Act you need to have owned the property
for a period of 2 (two) years. Ownership is determined by the date
of registration with the land registry.
• The right to extend the lease can be assigned by a qualifying lessee.
This means that you can purchase a flat and enjoy the benefits of
the rights created by the Act without waiting 2 yrs.
13. Collective Enfranchisement
• The 1993 Act as well as providing a statutory framework to
extend your lease also provides for the acquisition of the
freehold reversion. The purchase of the freehold is often
referred to as “Enfranchisement” and you may also see
property being marketed with a “share in the freehold”.
• To qualify for collective enfranchisement there must be at
least two flats in the block with long leases. A claim can be
made to acquire the freehold by at least 50% of the
leaseholders joining together. The benefits are significant and
range from self determination of service charge issues to
extending your leases.
14. Important points
• A lease is a wasting asset, the shorter it gets the less the property is
worth
• When the lease drops below 80 years remaining you have to pay an
additional sum to the landlord to extend or buy the freehold
• Leases with close to 80 years or less are harder to sell and
mortgage
• If purchasing a ‘short lease’ make sure the seller will assign you the
right to extend
• For a guide to what a lease extension would cost see our calculator
on our website: www.boltburdon.co.uk/private-clients/
enfranchisement
15. Tenancies & Problem Tenants
John Spence
johnspence@boltburdon.co.uk
DD 020 7288 4788
16. Avoiding problems with tenancies:
My 5 top tips
1 Choose your tenants carefully
2 Have a good written tenancy
3 Protect the deposit
4 Respond quickly to tenants’
breaches
5 Serve the correct termination
notices
17. TIP 1: Chose your tenants carefully
Make certain you or your letting agents carry out vetting and
credit checks using services such as Experian tenant screening
to search the prospective tenant’s credit history, and see if they
have any Bankruptcy Orders or County Court Judgments.
Obtain copies of the prospective tenant’s bank statements and
arrange for rent to be paid by standing order or direct debit.
Request references from the prospective tenant’s current
landlord, employer, bank etc.
Ask where possible for a guarantor such as a parent or
employer to be made a party to the tenancy agreement and
carry out the same vetting and credit checks on them.
18. TIP 2: Have a good written tenancy
Use a properly drafted Assured Shorthold
Tenancy agreement.
Make sure the main terms of the tenancy are
clear as to the length of term, rent, rent periods
and payment dates, and repairing obligations.
Check the tenancy incorporates all the
termination provisions set down in the Housing
Act 1988 which makes it easier to terminate the
tenancy later on.
19. TIP 3: Protect the deposit
Make sure you or your agent protects the deposit
with one of the three main authorised tenancy
deposit protection schemes: The Deposit Service,
Tenancy Deposit Scheme or My Deposits.
Serve the correct prescribed information notices
upon the tenant within 30 days of receipt of the
deposit.
Best practice is to re-register the deposit and re-serve
the prescribed information when renewing
fixed term tenancies or when a tenant holds over
as a statutory periodic tenant (Superstrike v Marino
Rodriguez).
20. TIP 4: Respond quickly to tenant
breaches
If a tenant misses a rent payment, contact them
quickly to find out what is happening and do not
let arrears accrue.
If the tenant’s breaches are serious, then you or
your agent should serve a termination notice.
Keep a record of all your letters, emails and calls
to your tenant to ensure you have a paper trail in
the event you have to take your tenant to Court
or use a dispute resolution service provided by a
tenancy deposit protection scheme.
21. TIP 5: Serve the correct termination
notices
At the end of a fixed term Assured Shorthold tenancy, the tenant is
entitled automatically to hold over as a statutory periodic tenant under
the Housing Act 1988.
To end an AST, you must serve the correct form of notice under Section
21 of the 1988 Act giving the tenant the requisite minimum 2 months’
notice ending on the correct date depending on whether or not the AST
is still within the fixed term or has become a statutory periodic tenancy.
You cannot serve a Section 21 Notice if a rent deposit was not protected
properly.
You can serve a separate type of notice seeking possession under
Section 8 of the 1988 Act during the fixed term provided your tenancy
agreement provides for this.
If a tenant refuses to vacate then you must obtain a Court possession
order.
23. Declarations of Trust
Property ownership agreement
Sets out:
Beneficial ownership
Legal title
Beneficial ownership - percentages
Return of initial deposits
Rights of pre-emption
Parents loaning money
Contribution to bills, mortgage payments etc
24. Tax Considerations: Investment
Property
Income Tax
• Rental Income – use lowest rate income tax band –
declaration of trust
• Interest on mortgages are tax deductible – repayments
are not
• Deduct all expenses
25. Tax Considerations: Investment
Property
Inheritance Tax
• Primarily a tax on death but can be charged on
Lifetime gifts
• Nil rate band (NRB) £325,000 fixed until 2015
• Anything over and above – 40% tax
• Rental Income – gift of surplus income – strict rules –
records needed
• Be careful of “Gifts with Reservation
of Benefit” (GROB)
26. Tax Considerations: Investment
Property
Capital Gains Tax
• When sell or ‘dispose’ of an asset
• Deduct costs & losses from previous years
• Annual allowance £11,000
• Transfer a share to someone to make use of x2
allowances
• Taxed at 18% or 28% depending on your income tax
rate
• Last 18 months of ownership are ignored
• Changes April 2015 – removal of election
27. Funding your Purchase
How will you fund the purchase?
Gift from family?
“Potentially Exempt Transfer” (PETs)?
Term assurance
Mortgage
Tax deductable so may be preferable to a cash purchase
Life cover - written in trust
Cash buyer
No tax deduction for income tax
28. Purchasing in UK but non-dom?
Succession and inheritance tax in the UK is based on
‘domicile’ rather than residency.
Domicile is a complex area and has implications for:
Inheritance tax
17-20 tax years
If non dom, UK assets taxed
If dom – worldwide estate taxed
Capital gains tax
April 2015 – non doms subject to it
No election for non doms
Succession of assets on death
Get specialist advice and prepare Wills in both countries.
30. Protecting your investment
Ownership in sole name
Declaration of Trust
Joint with third party
Marriage Agreement
31. MARRIAGE AGREEMENTS
Pre-nuptial Agreement – must be entered
into not less than 21 days before the
marriage.
Post-nuptial Agreement – can be entered
into at any time after marriage.
32. COMMON MISCONCEPTIONS
‘Not worth the paper they’re written on’
‘They’re totally ignored by the Courts’
‘Absolutely no point in having one’
‘A complete waste of money’
33. THE FACTS
Radmacher v Granatino [2010]
“The Court should give effect to a nuptial
agreement which is freely entered into by each
party with a full appreciation of its
implication, unless in circumstances where it
would not be fair to hold the parties to the
agreement.”
34. (1) FREELY ENTERED INTO
Timing – The agreement should be signed
not less than 21 days prior to the marriage.
Importance of agreement – Would the
parties have married without the
agreement?
Personal circumstances, duress and undue
pressure – are there any warning signs.
35. (2) WITH A FULL UNDERSTANDING OF THE
IMPLICATIONS
Independent Legal Advice – The parties
must understand the terms and legal effect
of the agreement.
Disclosure – Full and frank financial
disclosure should be provided.
Negotiation – It is important that the parties
had the opportunity to negotiate the terms of
the agreement.
36. (3) FAIR
Non-Matrimonial Property – there is nothing
inherently unfair in distinguishing between
wealth accumulated during the marriage and
pre-marital property or property that one
party expects to receive from a third party.
Children – the agreement cannot prejudice
the reasonable requirements of any child of
the family.
37. (3) FAIR CONTINUED...
Need– the agreement should not result in one
party being left in a predicament of ‘real need’
Changing Circumstances – the agreement should
as far as possible plan for future changes in the
parties’ circumstances.
Generally – the parties views as to what
constitutes a ‘fair’ division of assets on separation
will be important, particularly where they address
existing circumstances.
38. Why Bolt Burdon?
City lawyers for city people – with more than 25 years experience
working in the City you can be confident that you’re in safe hands.
A ‘one stop shop’ for all your legal needs – there’s no need to go
anywhere else, we can deal with all your legal needs.
Flexible appointments – we understand that it is not always
possible to visit your lawyer during working hours. We therefore
offer flexible appointments to work around you.
Office visits – if you can’t come to us, we’ll come to you.
Direct contact – you can call or email our lawyers direct.
Fixed fees – we charge fixed fees, so you know exactly what the
cost will be from start to finish.
Election –
1 - remove the ability for a person to elect - looking at all the evidence such as UK taxpayer’s spouse and family live, where mail is sent, and registration on the electoral role; or
(2) replace the election with a fixed rule that identifies the person’s main residence based on where he/she is present for most time in a particular tax year.