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Landlords

Bowling & Co Solicitors – History of the firm

The firm was founded by the late Gilbert Bowling, who in the summer of 1957 set his sights on his own sole practice in Stratford. He located some rooms above the Burtons menswear shop and moved in by late June 1957. However with no working telephone at first and decorators still in refurbishing the offices he did not actually start practising as “Bowling & Co” until 17th July 1957. The premises above Burtons comprised of just a few rooms - numbers 1, 2, 3 and 3a on the first floor…

Beware Side Letter

Although the case of Vivienne Westwood Limited v Conduit Street Development Limited is fact specific it is a crucial reminder of the care that must be taken when setting out concessionary terms in side letters between landlords and tenants. In 2009 Vivienne Westwood Limited entered into a 15 year lease of retail premises, however at the same time the parties entered into a side letter providing rent concessions. The lease provided that the annual rent payable was £110,000 with upwards only rent reviews in 2014 and 2019. Under the side…

No rabbits, just selfies come out of Hammond’s hat in pre-Brexit budget

The first steps towards preparing the UK for a post-Brexit future were announced by Chancellor Philip Hammond in his Spring Budget, which avoided headline-grabbing shake-ups and tax breaks in favour of economic stability.   In the run-up to the announcement, sterling slipped to a seven-week low, reflecting the uncertainty surrounding the move towards exiting the European Union, but the Chancellor pointed to robust economic growth, record levels of employment and a falling deficit, saying real GDP had grown by 0.7% in the final quarter of 2016 and by 1.8% over the…

Crowd-funding property investments: open to anyone with a spare £10

Successive political, cultural and financial developments over recent years have led to the emergence of a generation of people for whom property ownership is a distant dream. For some, property ownership is not appealing in itself. For others, the chance of saving a meaningful deposit is so remote that the prospect isn't even entertained. Even successful Landlords with vast and profitable property portfolios are losing interest in the sector, as taxation and regulatory disincentives dampen the mood (is the age of the amateur landlord over?). The good news is that…

Landlords converting family homes to student homes

Some landlords have tenancy agreements in place with one person only, however, that particular person might come with a family of four, thereby, leaving that one particular person responsible for paying the rent to the landlord. Progressively, the more experienced landlords are making the most of the current market by raising the overall rent earned from a property by renting to individuals or households living in the property separately. This is also known as a HMO, (Houses in Multiple Occupation). A HMO is when separate tenants have private access to…

Mistakes that mean Landlords lose the right to break up

Landlords looking to terminate a lease have received a blunt reminder of what it takes to serve a valid break notice after a legal battle reached the High Court. The ruling in Vanquish Properties (UK) Limited Partnership –v- Brook Street (UK) Limited centred around premises ear-marked for development on Fenchurch Street in London. The premises were let to Brook Street by the City Corporation as freeholder, with a break clause in September 2016 on six months’ notice. When developer Vanquish came along, they were granted an overriding lease, so they…

A fifth of London tenants paying over asking price

Countrywide, the UK’s largest property services group, announced that 1 in 5 tenants based in London pay over the asking price to secure their homes, by comparison with 1 in 8 tenants over the rest of the UK. London, compared to other cities in the country, has seen the largest growth in rents since 2007. Countrywide's monthly lettings index found Londoners were paying an average of £1,309 a month in the year to February, up from £1,295 the year before, £94 above the average monthly asking rent, in London. Over the…

Rogue landlords

Local Authorities are looking to crack down on rogue landlords. It is reported that a cash injection of £5million will be distributed amongst 48 local councils in order to tackle the growing situation of negligent landlords, who are letting their properties to tenants that are living in dangerous conditions. Local Authorities have long been trying to reduce the number of rogue landlords. Some London Councils have sought to tackle rogue landlords by the introduction of the Private Rented Licencing Scheme in 2014. The Scheme requires all landlords or their agents…

Landlords’ obligations to check tenants’ right to rent

If you intend to create a tenancy (or sub-tenancy) on or after 1 February 2016, you have a duty to undertake identity checks to ensure that a tenant or lodger has the right to rent in accordance with the Immigration Act 2014, whether there is a written tenancy agreement or not (subject only to very limited exceptions). This duty has been in force since 1 December 2014 in respect of properties in Birmingham, Walsall, Sandwell, Dudley and Wolverhampton. The checks must be carried out within the 28 days before the…

Rental payments after break dates

The Supreme Court handed down its Judgment in the case of Marks and Spencer Plc v BNP Paribas Securities Services Trust Company & Ors on 2 December 2015. This is important news for landlords and tenants alike when negotiating the terms of leases and exercising break clauses. The facts The brief facts of the case are that a lease had been granted for a term expiring on 2 February 2018, with rent being payable in advance on the usual quarter days. The tenant gave a break notice to end the…

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