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ONE of the first cases concerning the 2007 tenancy deposit protection scheme was heard recently.

The County Court overturned the findings of the first instance judge to find in favour of the landlord.

Richard Freeman-Wallace, nebusiness.co.uk - 8 Oct 2008

The landlord in question had properly placed his tenant’s deposit in a tenancy deposit scheme but had not informed the tenant about the details of the scheme within the statutory 14 days, Sheffield County Court heard (Harvey v Bamforth, Sheffield County Court)

The statutory penalty is three times the deposit for failure to register or protect the deposit.

The County Court judge ruled that in this case the failure to provide information on time did not mean that the penalty was payable because the information was still provided before the tenant submitted his application.

The decision is an important
one for landlords as the Citizens Advice Bureau said there were hundreds of similar cases waiting to be heard.

The judgment clarified that provided the landlord supplies the certificate and other prescribed information without delays outside the 14-day statutory limit, he will not breach the Act.

The tenancy deposit scheme, which came into force in April 2007, affects thousands of property owners who currently take deposits worth about £1.2bn from tenants each year. Full Article

addthis_url = 'http%3A%2F%2Fwww.landlordzone.co.uk%2Fblog%2Fnews%2Fimportant-court-ruling-for-landlords'; addthis_title = 'Important+court+ruling+for+landlords'; addthis_pub = 'LandlordZONE';

Homeowners should not rush into any decisions about renovations to their property, an architectural firm has suggested.

Changes to the UK's planning laws will make it easier for homeowners to improve their property.

Many Americans aren’t going to end up with money to retire on. These days, it’s a sad fact. Instead of complaining about that reality (and the injustice of it all) the best action someone who wants to retire can do is simply make sure they aren’t the average American. They need to take steps to make sure they will have the income to enjoy their retirement and be able to pay their bills, including their ever-increasing medical-bills.

The most effective way to avoid being one of these Americans who wind up working at some remedial job through their retirement, based on the opinion of Robert Kiyosoki, author of the “Rich Dad Poor Dad” book series, is to invest in real estate.

Buying investment property is an excellent way for people to prepare for our retirement because it supplies a great benefit called “passive income”. After someone has done the preliminary work, passive income keeps coming in without a lot of effort. A typical worker gets paid only for the time he puts in.

A real estate investor, after developing her system, makes money for keeping it running. And keeping it running, if she been very clever about it, will involve paying his employees to do the job of checking up on them every now and then.

A best thing about passive income (such as from investment properties) is, the more time the investor keeps them, the more ROI they should make for him/her, with less and less effort on the investor’s part. It’s the nearest thing to magic we will ever find in the world of finances.

It sounds attractive, but one should never simply take the plunge without looking first. Although it is all very learnable, there’s quite a bit to learn when you are thinking about real estate investing - things like comprehending economics and the laws related to real estate.

The most important concept to understand, however, is one’s own personal limitations. The person who knows where to locate the information she wants is much better off than the person who remembers tons of facts and formulas around in his/her memory.

In the book “Cash Flow Quadrant,” Robert Kiyosaki teaches newbie investors to raise their income as well as their knowledge. Mr. Kiyosaki writes of creating a business system that will set up and left alone, freeing up the owner to move on to the next deal instead of spending all his/her time babysitting his/her business. The next step is to continue that real estate education and start to look around for specialists to employ and property to acquire.

Robert Kiyosaki also refers to this change as moving from one part of the cash-flow-quadrant to the next. He emphasizes that, the 1st step someone needs to take toward transforming his or her life is changing the thinking process. If a person changes the way he thinks about money, then he will wind up in a much better position to change his relationship with it.

The way people think determines the actions they take throughout the day, and those actions determine the level of their success. The main value of studying books like Robert Kiyosaki’s “Rich Dad, Poor Dad” series - brings you closer to a new paradigm about things. When investors see how easily it is to establish new skills and acquire better knowledge, they are virtually impossible to stop.

Alex Anderson Uses The Minnesota MLS To Help Her Clients To Find Minneapolis homes for sale. Download A Free Copy Of “The Investors’ Rental Guide” At GreatInvestmentProperty.com.

Property investors will be able to use exchange traded derivatives from early next year. International derivatives exchange Eurex announced it has licensed the...

More and more gloomy reports about the UK house prices and how they are falling, dinner parties in British suburbs are electric with the groans of house owners who have seen falls in their wealth. None seem to mention that they cannot even contemplate moving up the ladder as the next rung is so expensive that it would be financial suicide. Please stop all the moaning what did you expect? did you believe house prices would continue going up for ever and ever? House price falls are good in th

What is a section 8 A section 8 is used to terminate an Assured Shorthold Tenancy Agreement during the fixed term. Basically, if you want to terminate a tenancy agreement while the contract is still...

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I promised you last week after outlining my belief the “frozen credit markets” was a contrivance by Fed Chairman Ben Bernanke and Treasury Secretary Hank Paulson, I’d spill the beans on why the dynamic duo wanted to lay their hands on $700 Billion since it wasn’t needed to thaw out anything.

So here goes..and I warn you it’s a little radical…but given this weeks events, I’m even more convinced it’s true.

My Theory on the Fed’s Bailout

As we discussed last week, the TED spread is the measure everyone is using to show how frozen the credit markets are and to repeat, this measures the willingness of banks to lend to each other.

The current story is the banks that formerly lent to each other at .5% now won’t lend to each other at 4.5%…and the TED spread proves it. Paulson and Bernanke used this “fact” to extort $700 Billion from Congress for the expressed purpose of ‘buying the toxic loans’ (I never bought that “toxic loan” story. The banks already took the hit, so how does getting a few dollars for yesterday’s writeoff help?) which are causing banks not to trust banks. Once those bad loans are taken off the backs of the banks, the fear to lend bank-to-bank will disapper…frozen credit markets thawed…crisis averted.

There’s only one thing wrong with this story…it’s not true.

Did anyone bother to ask if there might be another reason banks don’t want to lend to other banks?

The real reason the banks still left with capital (ie. Wells Fargo, JP Morgan, Bank of American…a few other mega-banks) don’t want to lend to the those banks who need it is simply because they don’t want to.

Yep, that’s right…they don’t want to.

If you were them, one of the Big Three, why would you lend to a small regional bank when withholding the loan will most likely make the bank a takeover opportunity for you at pennies on the dollar once the FDIC closes them down due to (because they couldn’t raise the capital) failure to meet reserve requirements?

You wouldn’t. You’d let them go under.

Big banks are withholding loans so under-capitalized banks fail. Once the under-capitalized banks fail, invariably the FDIC brokers a buyout to one of the Big Three or another mega-bank. This is market consolidation at gun point, but it’s working. Two more regional banks failed today.

To support my hypothesis, over the last couple of days, Paulson has saber rattled about buying a direct stake in some banks (an idea he never mentioned as the bill was getting debated in Congress) seemingly frustrated by the lack of “thaw” so far. This means the few big banks are going to get Treasury money to continue their buying spree. Buying failed banks even at pennies on the dollar costs money and they just as well use Hank’s money (I mean your money) as their own.

What Hank doesn’t spend help big banks gobble up small ones, he’ll use to appease our foreign credit buyers. A little unintended consequence of an artificially raised TED spread is a stock market tumble and confused foreign central bankers.

Simply call a quick meeting of the G7 financial leaders to calm their worries…and that is taken care of. Watching the stock market fall has it’s up side. It lends further credence to the whole “frozen market” cover story and puts even more pressure on those banks on tilt.

The biggest consolidation of banking, investment, and mortgage power, after all this over, will rest with just a handful of companies…companies hand-picked by Ben and Hank. Call me a quack, but in a few years when you have only 4-5 companies to pick from to get a checking account…it will be too late.

I really hope I’m wrong…

Photo Credit: SmileMyDay.com

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What Is The Real Reason For The $700 Billion Bailout?

 Hi

Do you have any stock you need to sell that is at a confirmed percentage of a minimum of 30% below RICS as valued during the purchase process, i.e. not a historical RICS valuation ?

If so -  can get this confirmed in writing ? – we have the buyers waiting.

In first instance please email

Property-consultant@hotmail.co.uk