How much effort is it to sort out a house in multiple occupancy (HMO)?
A house in multiple occupancy is defined as a property where at least three tenants live forming more than one household (one person or more living together), but share kitchen and bathroom facilities.
As a landlord of an HMO, your responsibilities include ensuring proper fire safety measures are in place, gas safety checks are completed annually, the electric system is checked every five years, there are sufficient bathroom and kitchen facilities for everyone to comfortably use, communal areas are kept clean and safe to use, and waste disposal is managed effectively (provision of bins and bags).
This requires more effort than having a property to rent to one household, and you may wish to employ a solicitor to sort out the legal side of things in the first instance, and a property management company to handle the administration, disputes, etc. on a daily basis.
Homeward Legal's experienced solicitors have completed many different transactions including properties for HMOs. Why not give us a quick call now on 0800 038 6699 to get your conveyancing under way today?
What sort of local environmental checks into the risk and history of possible flooding around Warwickshire will my Lapworth conveyancing solicitor actually apply for a Sixties property we are going to buy?
Your residential property conveyancing solicitor will apply for environmental searches, which include Lapworth flood risk area data. Additionally a solicitor in Lapworth could possibly advise a significantly more involved local Lapworth area search. On (24-Dec-12) there were no warnings around the at the Riverside locations and roads between Leehamford and Meethe, including Brayford, Stags Head, Bray Bridge, Clapworthy, Meethe, the B3277 at Bray Bridge and the B3266 at Clapworthy
What’s the difference between residential and commercial conveyancing?
In essence, there is very little difference between the tasks needed for residential conveyancing against commercial conveyancing. The real difference comes in the type of property and the purpose for which it is intended to be used.
The majority of residential transactions are freehold, whereas commercial transactions are almost exclusively leasehold, and commercial property conveyancing searches will tend to be more expensive because the structure and land will occupy a greater space on average than that for residential property.
Should I get my short lease extended before selling?
Buyers are becoming increasingly wary of buying leaseholds with less than 90 years to run because, first, the cost of increasing a leasehold is becoming far more expensive, and, second, mortgage companies are becoming increasingly reticent to lend money to buy leases that have dropped below the 80-year mark (indeed, this will be one of the criteria that they set to ensure their investment is protected).
As a result, buyers will often insist that the leasehold be extended back up to the 99-year or 125-year typical thresholds before going ahead and buying it. So, as the current leaseholder, you will almost certainly be expected to do the legal work required to extend the lease to a level that buyers will be happy with.
How can I find out additional info on the upkeep of Lapworth conservation areas?
Conservation area concerns including trees or traffic signs are handled by the local authority (Solihull). Following a campaign, English Heritage have conducted a survey and created a list of the condition of conservation areas in addition to the trend of the area.
Is it hard to sell a property located in a conservation area?
A conservation area is designated and managed by the local authority to ensure the unique nature of the location is maintained by placing restrictions on changes to the buildings, street furniture and green spaces to protect the architectural or historical interest of everything within the conservation area boundary.
Because of this resistance to change, this usually means homes in conservation areas are more attractive to buyers, and, as such, there may be a premium to pay over properties outside such areas. Because of the attraction of such property, they will usually sell well and quickly. However, there will need to be greater checks by the buyer’s solicitor to verify that your property conforms to the conservation area restrictions, which may add extra time to the duration of the conveyancing.
Homeward Legal's solicitors have a great deal of experience working with sales and purchases in conservation areas, so why not give our team a quick call on 0800 038 6699 right now to find out what we can do to help your plans?
We have a found a house to buy. How do we ensure a fast conveyancing process?
Experienced buyers will tell you that contacting a experienced solicitor is the key to faster conveyancing. There are a number of things you as the buyer can also do, such as, promptly answering your solicitor's questions, requesting status updates from the solicitor regularly and confirming your mortgage offer.