Shared ownership possibility, getting some things straightened out

JGHunter

So my wife and I decided we really like our rental, we're quite lucky with it, but we want security (for example they can't evict us for selfish reasons ie selling their share) in the anticipation of being more of a family than a couple, more than anything.

My main concern is regarding the value of the property. It is in dire need of updating. A hodge podge of Edwardian plumbing and retro fittings and just decrepit quality that meets the British government's callous standards for rentals. As such we really want to do a fair bit of work on this place to bring it into the 21st century, which we would not do on a rental... no point putting work to help raise the value of someone else's capital, you parasitise my wages enough as it is as we do not benefit. However, if we do the work that the property company can't be bothered to, and it raises in value, how can we assure that the rise is reflected only in our portion of the ownership? If our work was to raise the value by, say 15%, I don't want the property owner's portion to rise as much as ours when we're the ones who put the money and labour in.

Can we ensure somehow that work we do only impacts our share in any increase in value?

JGHunter

I should add that this isn't just a pipe dream, our "landlord" is a company and so is fairly hands off and cooperative and I have already contacted the estate agent in approaching them with our expression of interest.

Shelldean

You can't ensure only your share  increases in value.

You own a % and so does the other person.
So say your place is worth 100,000 now.
And you buy 75% leaving them 25%
You do the work and the property is now worth 120,000
You still only one 75% and they still own 25%.

So from the increase, you would benefit by 15,000 and then by 5,000

Shelldean

In fact the only way to ensure that only you benefits from the work you want to do is to buy 100% of the property

Slithery

JGHunter said:
However, if we do the work that the property company can't be bothered to

You misunderstand how shared ownership works. You are responsible for all maintenance.

user1977

JGHunter said:

our "landlord" is a company 

Can I check that by "shared ownership" you mean a recognised shared ownership scheme, as I thought those were only available via social landlords i.e. housing associations?