Property Management

Question 1

What are the responsibilities of LLs when letting residential property?

Answer 1

Ensure the property is compliant
- EPC
- EICR
- Gas
- Oil
- Water
- Fit for Human Habitation?

Question 2

What are the main lease terms for an AST

Answer 2

Name and address of LL and T
The property
Commencement Date
Term
Rent
Rent Review
TDS
Repairing Obligations

Question 3

What are the main lease terms for a FBT

Answer 3

Name and address of parties
The holding
Term
Start Date
Rent
Rent review
Repairing obligations
Fixtures

Question 4

What can you tell me about the Model Clauses and where they apply

Answer 4

The Agricultural (Model Clauses for Fixed Equipment) (England) Regulations 2015

The model clauses set a default approach to responsibilities for repairing obligations for agricultural tenancies.

AHAs:
s.7 - The model clauses are deemed to be incorporated into contract of tenancy of an agricultural holding, unless otherwise agreed in the tenancy.

• Written tenancy takes precedence over the MC. However, the MC are supplemented to any aspect not cover in the TA

FBTs:
The MC do not have any statutory application. The matters are left to the contract between the parties.

Some FBTs can invoke the MC as the basis for allocating repairing obligations.

Question 5

Talk to me about tenants deposits for Residential Lets

Answer 5

Deposits must be kept is a government approved tenancy deposit scheme.

A copy of the certificate must be issued to the tenant

At the end of the tenancy the LL has 10 days to return the deposit to the tenant unless the LL wants to make a reduction for damage

Question 6

What is adverse possession?

Answer 6

A person trespassing on a property which is owned by someone else can apply to acquire title to it.

The possessor has to be in possession of the land for a sufficient period - 10 years.

Question 7

What can be done to mitigate adverse possession

Answer 7

Mitigation:
- Secure the property
- Signage
- Keep record of occupancy
- Get legal advice

Question 8

What compliance to you have to check for residential properties?

Answer 8

EPC
Electrical safety
Legionella
Gas Safety
Smoke and CO alarms

Question 9

What is trespassing

Answer 9

When someone enters a property without the permission of the person who is in possession.

Question 10

What are the LLs repairing obligations for a residential tenancy

Answer 10

s.11 of the LL & T act 1988
- Keep in repair the structure and exterior including drains gutters and external pipes
- Keep in repair and proper working order the installations for the supply of water, electricity and gas and for sanitation including basins, sinks, baths and toilets.
- Keep in repair and proper working order the installations for space heating and heating water.

Question 11

What is a budget

Answer 11

An estimation of revenue and expenses made for a specified future period - usually 12 months

Question 12

What is a cash flow

Answer 12

A cash flow shows the movement of money in and out of a company

Inflows and outflows.

Question 13

What health and safety measures are conducted prior to major works?

Answer 13

Construction Phase Plan
Construction Design and Management Regulations 2015

What is included:
- Project description
- Project management
- Arrangements for controlling risk

Question 14

What is the purpose of getting contractors approved on your database?

Answer 14

To ensure they have the necessary insurance in place, risk assessments, method statements

Question 15

What is a SWOF?

Answer 15

Small Works Order Form

Details the client, property, nature of the instruction, agreed price, known risks, invoice instructions.