IN THE SPOTLIGHT: LEGAL SERVICES


WHEN COMPANY DIRECTORS DIVORCE


Simon Long (pictured), managing partner at Franklins Solicitors LLP specialises in corporate and family law. He recognises that there are increased challenges in divorce when partners in life are also partners in business. Separating is difficult enough when it


comes to children and personal assets, and this can be made even more difficult when a business is also involved. Both parties may have worked alongside each other and may require valuations of their business as part of a financial settlement. There are several things that can be done when setting up a company to make things easier. Every situation is unique and reflects the


different nature of relationships and businesses. Setting out your joint wishes at the start can make a difference. After separation, one step often


overlooked is pension death benefits. Expression of Wishes papers can be missed, with such benefits being inadvertently left to an estranged partner. If both spouses are shareholders in a


business, finding a way forward could include dividing the business if roles have been specific and the parties are willing to continue to work together, although most couples decide it is best for a clean business break and for one to buy out the other. Sadly, some businesses also close. Before making any decision, it is important to get


advice on all of the implications.


For further information and assistance, contact 01604 828282 or email Family@franklins-sols.co.uk.


RIGHTMOVE RELEASES RESIDENTIAL LETTINGS MARKET UPDATE


‘WE HAVE SEEN A 93% INCREASE IN LETTING


APPLICANTS SINCE APRIL 2020’


Rightmove’s Residential Sales House Price Index reported the busiest month for ten years, with the highest number of sales agreed in a month up by 20% on the previous high. But how does this compare to the lettings industry? Jennifer Holbrow, head of


residential lettings at Robinson & Hall, said: “We have seen a 93% increase in letting applicants since April 2020 which proves that there is huge demand, and potential tenants aren’t put off with the rules and regulations in place when viewing properties. “Unfortunately, we have not


seen the same trend with landlord instructions. The Royal Institution of Chartered Surveyors (RICS) UK


Residential Market Survey reports a six per cent increase in landlord instructions nationally compared to the last quarter, so let’s hope instructions continue to improve as the year progresses. “Supply, however, does not meet demand, which ultimately pushes rental prices up as tenants are in competition to secure their perfect property. “The HomeLet Rental Index in


August 2020 shows that the average rental price for a new tenancy in the UK was £985 per calendar month, which is up by 1.5% on last year. “In Bedfordshire and Buckinghamshire, three-bedroom properties seem to be the most popular at the moment and we are


seeing rental prices averaging at £975 per calendar month. We are expecting to see a 2.5% rise in rent over the next 12 months. “Tenants who are moving are


expecting higher standards of accommodation and those who are finding their ideal property are staying put for an average of 8 years. “I am confident the lettings


market will continue to pick up. One thing is for sure is that there is demand so if you are considering letting out your property, now is the time!”


Email: lettings@robinsonandhall.co.uk


18 inbusinessDECEMBER 2020/JANUARY 2021


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