Moginie James... at home | Spring 2010
I am planning to buy a property with my partner but I am concerned about the
implications of any future break-up and fi nancial loss - particularly as I have the larger deposit. Is there any kind of legal document we can sign that would set out our fi nancial position?
Senior Partner, Nigel Morgan of MLM Cartwright solicitors
says... A separate document
can be entered into by the parties on completion. If the parties wish to share proportionately in any future gain (or loss!) in the value of the property this can specify at the outset their respective ownership percentages which they will have agreed before completing. Alternatively a provision can be made that, upon a sale of the property, the deposit which each party has contributed is paid out of the proceeds of the sale fi rst and then the balance of the proceeds is shared equally. Either course is straightforward and inexpensive to put in place.
I’m looking to let my fi rst property and notice that some lettings agents seem to be ARLA
accredited – and some are not. What does this mean and is it important that I choose an ARLA agent?
Wales representative of ARLA, Kate Hayden, of Moginie James
says... As it stands at the moment,
there is no mandatory regulation of letting and property management agents in the UK. However, with members across the UK, the Association of Residential Letting Agents (ARLA) is the national professional body concerned with regulating letting agents. The Association keeps members up to date
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I’m thinking of a new look for this Spring and love all of the latest aqua and duck egg
blues – but will these look too cold in the colder months?
Interior Designer Yvonne Jones of Chameleon Interiors
says... Although hot colours are
the latest trend to follow, following your own taste is more important. If you love aquas and duck egg blues, use them. You can accent with splashes of red or orange in the winter months to add more warmth.
with changes in legislation and provides training and guidance in all aspects of letting and managing a property. Member agents have to comply with a Code of Practice which covers important issues such as handling and accounting for clients’ money, holding Professional Indemnity Insurance and dealing effectively with complaints. In addition, ARLA members are required to employ at least one member of staff who holds a suitable industry qualifi cation recognised by the Association. In short, letting a property through an ARLA agent offers you complete peace of mind that the agent is reputable and knowledgeable, that the property is good quality, and that your bond is safe.
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