Typical care home costs

weanie

Perhaps the fire blankets and wired smoke alarmsrelate to houses in multiple occupancy [usually students/bedsits] or new builds.
My experience of rental arrangements is that the landlord has to arrange for each gas appliance to be inspected by a CORGI gas fitter and an annual safety certificate issued [cost about £60 total]. The electrical supply/wiring needs to be checked too but I thik this is every 5 years. Since October this year, landlords have had to cough up for a survey on the house to identify ratings for energy performance just as people have had to do in preparation for sale.The deposit has to be held over by a a separate body [Deposit Protection Agency] and no interest can be gained on this money by the landlord and the owner/owners of the house will of course be liable to tax on the profit from the arrangemtns. I don't think it is too onerous a task to arrange and manage a rental but of course nothing is ever striaghtforward is it?
I do wish you the very best of luck.

EdInvestor

If you are new to letting, it may be best to employ an agent to do this work for you and then find your tenants.Fees are normally 10-15% and tax deductible.Try to find one that specialises in letting, not buying/selling.

Savvy_Sue

weanie may be right, it's only houses in multiple occupation which need the fire blankets and wired smoke alarms, so consider your market. If you're in a student-y area, HMOs are very popular and a reasonable property should be easy to let. If you want to aim for the higher end of the market, then the legal requirements may be less onerous, but the house has got to look good enough for someone to want it!

artha

Errata wrote: »

Artha, apologies if you've already said so. I note your FIL dementia has recently got worse, does anyone have POA for your FIL? If it's agreed that the best way forward is to rent the bungalow your FIL will be the landlord and have to understand and sign all manner of things.

as I mentioned in an earlier post things within the family are a little complicated. 3 out of 4 of the siblings are in favour of POA (as is FIL as far as we can tell). One of the siblings has been reluctant, which we found difficult to understand until suspicions were raised that that this sibling and family were taking interest free "loans" from from FIL and had been for some time. He has always been generous with money (birthdays etc) but since starting to deteriorate mentally he has started thinking he has lots of money (which he doesn't) and keeps offering loans/gifts to siblings and family at the merest mention of being hard up. None of us had taken him up on this realising his mental state and his future needs. After examining bank statements and cheque books we now realise that substantial sums have been taken which would not have happened if there had been joint POA. I think it's going to get messy but POA is the way to go soon before FIL is not considered fit to sign the consent.

Errata

Sounds very messy, and also very sad. Given that it seems your FIL has lost the ability to understand his financial affairs you may find it difficult to obtain POA with your FIL's consent.

artha

Errata wrote: »

Sounds very messy, and also very sad. Given that it seems your FIL has lost the ability to understand his financial affairs you may find it difficult to obtain POA with your FIL's consent.

It is very messy and as you say sad because there is a danger that he is becoming a pawn in the disputes that are arising over money created by the one sibling that doesn't appear to have any morals despite being apparently devoted to their dad(possibly a front to negotiate loans for their ailing business and the fact that neither of their offspringhave managed to hold down a job despite good qualifications- sorry this should probably be on the Vent thread). As an in-law I can't take any direct action in the family affairs but through this thread try to get the information that the siblings will need to prepare themselves for what might come.

The other thing that makes this situation quite difficult on the communication front is that FIL is practically deaf and discussion is only possible in handwriting although he can lip read a little.

Errata

Artha, info on assessing capacity here

http://www.publicguardian.gov.uk/mca/assessing-capacity.htm

plus other useful info. HTH

fredsnail

Do all the siblings have to agree to a POA?

I'm sorry that things are going to get messy - but you could get the forms completed and have one or two siblings appointed with POA powers. The forms are fairly straight forward (we used the pack from WH Smiths) and as long as FIL agrees he can chose who he wants to do it - is he able to sign the forms himself? We didn't involve a solicitor and as long as someone independant (would a neighbour/friend who has known him for a while help?) I would think that the reluctant sibling wouldn't want to rock the boat and say that FIL wasn't fit to apply for POA because if he's unfit for POA he's also unfit to award gifts/loans of money. If you want some more help re applying for a POA using the forms pm me.

Also I'd see if you can find anything in writing re the "loans/gifts" to the reluctant sibling. Failing that you might have to ask the sibling what the money was for (ie go through the bank statements in front of him) because if your FIL is assessed for means the gifts if substantial could be viewed as a deliberate attempt to disposal of assets.

If the amounts are substantial you may also need to get authorities involved - though this would be very difficult being that it's a family member.

It might be worth contacting the bank and asking for a form to change FILs account to a joint signatory - and have 2 siblings having to co sign cheques?

I am so sorry that an already difficult situation is going to be made far worse by the selfishness of a sibling.

dzug1

If it's an LPA being made while the donor is still compos mentis, then he names a list of people to be informed when application is made to register it. He can choose who he wants as attorney(s) and who to inform.

They (and anyone else who gets to know about it) then have 6 weeks to object.

So 'problem' sibling doesn't have to be told. But he can still object if he finds out. If he's been less than honest with the donor's money it could backfire on him if he does so.

Trouble is he might choose the problem sibling as attorney.....

Errata

I'm a bit rusty on POA etc which is why I posted the link to the office of the Public Guardian - but briefly -

fredsnail wrote: »

Do all the siblings have to agree to a POA?

Yes and they can lodge an objection about the proposed Attorney(s)

I'm sorry that things are going to get messy - but you could get the forms completed and have one or two siblings appointed with POA powers.

If the donor (in this case FIL) doesn't have capacity the Public Guardian will become the Attorney and will appoint someone - usually a family member - as 'stand in'

Also I'd see if you can find anything in writing re the "loans/gifts" to the reluctant sibling. Failing that you might have to ask the sibling what the money was for (ie go through the bank statements in front of him) because if your FIL is assessed for means the gifts if substantial could be viewed as a deliberate attempt to disposal of assets.

If the amounts are substantial you may also need to get authorities involved - though this would be very difficult being that it's a family member.

Action on Elder Abuse can give guidance on how to proceed if financial abuse is suspected - it's very common

It might be worth contacting the bank and asking for a form to change FILs account to a joint signatory - and have 2 siblings having to co sign cheques?

This can't be done without POA. Banks will not discuss a customer's business with anyone other than the customer or their Attorney

I am so sorry that an already difficult situation is going to be made far worse by the selfishness of a sibling.