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Tuesday, March 22, 2016

April 1st big day for this landlord

Most experienced landlords are pretty aware that things always come together.  Life rarely comes in bite size chunks especially when you are a property entrepreneur.  You tend to find the boiler blows up, just as a tenant decides to move out and another stops paying their rent, then there is a leak!

This very much mirrors my experience at the moment.  It's no exaggeration to say that for me the 1st of April is D day.

D Day for this landlord

Currently, I've got one sale going though.  This is not just a sale; it's the third time the sale has been agreed on this property since I first put it on the market about a year ago.  This time it's a cash buyer looking for a buy-to-let and so is desperate to avoid the additional 3% stamp duty surcharge that the Chancellor in his wisdom has decided to slap on landlords.  Just to throw an added complication into the mix I have a predatory freeholder Southern Land Securities and there managing agent Hamilton King who are trying to extract their pound of flesh by getting me to sign a deed of variation ramping up the ground rent and clobbering me with a range of disbursement charges and legal fees at the same time (more on this shortly).

On top of the above I am frantically trying to agree the purchase of a Peak District holiday home.  Not just a holiday home but also a property that will help secure the long-term viability of my rapidly expanding food and drink business.

Freeholder threatening  legal action

Added into this mix I have the freeholder of my Penthouse bearing down on me threatening legal action because I have not reinstated a 'bloomin' spiral staircase within the allotted 3 month time period.

April fools - could this landlord end up with egg on his face

Added to all this it's April fools day.  I suspect somebody 'up there' is having a massive laugh at my expense.  So this Easter I will be either celebrating big style or will be wearing a proverbial Easter egg all over my face!

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