Complicated Letting arrangement - Views?

Guest101

merlin51 wrote: »

it is a corporate let with the occupier named (as opposed to "any employee") - it makes no difference, she's not an employee anyway. You are letting to X Ltd. If she was to die, do you think X Ltd would have no recourse? Of course they can change the occupier.

Our comeback is on the company - it's a ltd company with no assets. You have no comeback, why is this so hard to understand? - because their only client is the occupier's Dad I'm not sure they will want the aggro and embarrassment of any problems arising out of this arrangement. - a ltd company with no assets or income, do you think this will go page 1 of the guardian? What embarrassment do you think it will cause? and to who? Anyway, as I have said it was a close judgment call - we have gone with it (and have money in the bank today!) and we will see

best of luck, hopefully you wont come back with a horror story

Mossfarr

Sounds like a perfect front for a cannabis farm.
As you have decided to take the risk with these people then just make sure you carry out regular checks on your property.
If they don't let you enter, take a long sniff through the letterbox! If the curtains are permanently closed and the letterbox is sealed up you're in trouble!!

Guest101

Mossfarr wrote: »

Sounds like a perfect front for a cannabis farm.
As you have decided to take the risk with these people then just make sure you carry out regular checks on your property.
If they don't let you enter, take a long sniff through the letterbox! If the curtains are permanently closed and the letterbox is sealed up you're in trouble!!

The occupant
It is important for the landlord to know the name of the licensee of the tenant, i.e. the person living in the property. The agreement will usually allow the property to be occupied by the permitted occupier together with their family. Within a company let, the tenant usually reserves the right to replace the occupant with another employee of the company as a licensee of the tenant. While it may be possible to insist that appropriate wording is included in the agreement providing the landlord with the right to approve the replacement occupant, this is not in fact the landlord's legal entitlement under a company let.

Read more at http://www.primelocation.com/discover/landlords-developers-and-investors/company-versus-individual-lets/#4LO7hUY78OqtL0sw.99

merlin51

Thanks again for your comments - honestly these are all points we have ourselves put into the equation, eyes wide open. The cannabis farm comment did raise a smile though - it's basically a one bed shoe cupboard so I'm not sure anything more than personal use would be possible from any houseplants

SuzieSue

Have you told your insurance company that you are letting to a company?

bitsandpieces

merlin51 wrote: »

Thanks again for your comments - honestly these are all points we have ourselves put into the equation, eyes wide open. The cannabis farm comment did raise a smile though - it's basically a one bed shoe cupboard so I'm not sure anything more than personal use would be possible from any houseplants

Is this a shoe cupboard in a very expensive area? I'm no tax lawyer, but unless it's a very pricey shoe cupboard it seems unlikely that the rent is high enough to make doing complicated things for tax reasons worth Mr A's while...

merlin51

Yes very expensive shoe cupboard, with parking