Category: Leases & Titles
You may come across a legal document called a ‘Licence of Alterations’ or ‘Licence to Alter’ related to what alterations a tenant has (or wants) to carry out at a property.
This is when you have a let property and a landlord and tenant, where the tenant usually wants to make some physical changes and alterations to their area.
It boils down to the landlord or freeholder giving consent to this and all the nitty-gritty details of how and when this is carried out.
It’s often with commercial properties, where there’s a lease in place and usually big and regular changes needed by a business tenant – for example, a new office layout with a new partition and a breakout area, or a retail shop new fit-out with shelves and...
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Category: Condition & Repairs
You’ll sometimes come across Planned Preventative Maintenance reports and programmes in an abbreviated form of PPMs.
Often with more significant buildings such as multi-let commercial properties or apartment blocks – they help look at what future maintenance and repairs are due at the property.
Although simple in principle, they can get complex and also expensive. To complete a proper one, they need a lot of detail and can be scary to help realise what nitty-gritty works are required at a property interest.
The secret is to ‘get’ them.
To have a comprehensive version of one is one thing, but to see what the takeaway and urgent issues are is another.
What are Planned Preventative Maintenance Schedules
The RICS has recently issued a...
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Category: Leases & Titles
You will often hear the phrases of subletting out a property and maybe a subtenant cropping up somewhere. Or perhaps more an underletting that comes to light.
In terms of what such subletting means and a basic definition – it’s allowing another tenant in a property ‘underneath’ the current and primary tenant.
So, the existing lease stays in existence – not like an assignment where it is transferred to another tenant.
You place a new lease below this, hence the phrase ‘sub’ or ‘under’ lease.
The existing tenant is then right in the middle of the landlord and new subtenant. So they act as a direct landlord to the subtenant, but then a tenant back to the leading landlord.
How subletting can help
These are underutilised, particularly...
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Here are various blog resources related to the rent that is paid at properties, with sub-category information on Rents here. Whether you're a landlord receiving, tenant paying, or middle-man managing. Right through from how to correctly charge and collect to how it needs to change over time, this is often the most important factor to managing let properties, and includes simular variations such as licence fees.
Here are various blog resources related to non-rent monies and payments, with sub-categories of service charges, fees, and other monies and costs/charges. These can be directly charged or hidden away, and are important to know what you may have to pay or might be able to charge another property interest for.
Here are various blog resources related to the insurance of properties, ranging from the main building cover to ancillary ones like contents, with sub-category insurance ones here. Whether it's the premium to pay or the policy to correctly arrange, these help explain what's needed from the perspective of different property interests.
Sales & Lettings
Here are various blog resources related to the sales & lettings of a property, and all related transactions, with sub-category resources of Sales & Lettings. Whether you're involved in these directly yourself, or you're working with other sales/letting agents and interests, these help highlight important property managemnet factors to consider.
Leases & Titles
Here are various blog resources related to all forms of leases, titles, and legal documentation involved with property interests, with sub-categories for Leases and Titles resources. Whether a straight forward lease agreement or complicated legal documentation, here is help to understand what you're trying to achieve and then practically how to easily do this.
Here are various blog resources related to all the taxes involved with property interests, from VAT and SDLT, to income and capital gains, to rates and council tax - chcek out the Tax sub-category. These will help you work alongside other accounting and tax advisors to make sure you cover all bases to reduce your overall tax liabilities.
Services & Compliance
Here are various blog resources related to the services and compliance at a property, with sub-categories of Fire Safety, Security, Cleaning & Hygiene, Health & Safety, Utilities & Energy, Maintenance, Other Services, Facilities, and Planning. These range from say your fire and health and safety compliance, through to services like cleaning and utilitities. These resources help provide an overview of each area without getting too technical, so you can plan it all in at the right time and best cost.
Here are various blog resources related to any other general subjects involved with properties and their interests, including sub-categories of Procedures, Principles, and Special Occasions. So whether it's the basics of property management, or more specific property issues and queries that don't naturally fall in the other categories, you'll find them all here.
Condition & Repairs
Here are various blog resources related to the condition of a property and any repairs and alterations required, with sub categories of Condition and Repairs. Whether it's a reactive roof repair, pro-active maintenance plan, or carefully-chosen contractor - these help explain how to effectively keep properties in the right condition.