The Property Podcast ASK475: How do I de-risk with delayed completion? PLUS: Should I use a Limited Company?
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May 6, 2025 In this engaging discussion, listeners learn about navigating the risks of buying properties with sitting tenants, especially when facing a six-month delay. The importance of legal support and proactive communication is emphasized to avoid costly issues. Additionally, the conversation explores the benefits of owning properties through a limited company versus personally, highlighting the need for professional tax advice. It's all about making informed decisions in the property market!
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Protect Yourself with a Good Solicitor
- Work with a solicitor experienced in delayed completion with sitting tenants to ensure proper contractual protections.
- Verify service charge, ground rent statements at exchange and completion to adjust payments accordingly.
Use Price Discount as Risk Buffer
- Negotiate price discounts to buffer risks from potential property or tenant issues during delayed completion.
- Understand you are legally bound to complete, so assess tenant risk and property condition carefully.
Mix Ownership Structures Freely
- You can hold properties in both personal name and in a limited company simultaneously without issues.
- Consult an accountant for tax guidance and help with both self-assessment and company tax returns.