Overseas Landlords Position

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Norma H
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My son works & lives abroad and lets his UK home (to cover mortgage and other expenses). His current tenant (of over 3 years) is leaving and a new tenant will hopefully be found. My question concerns the Deposit Bond Protection. The last tenant was found by a Letting Agent, but they were not used to manage the tenancy/property as my husband saw to any repairs etc necessary.

We have been told that as my son is a landlord NOT living in the UK, he must now involve the Letting Agent in registering the Deposit Bond as part of the management agreement.

Is this correct? Must my son have an Agency hold the bond under one of the government prescibed schemes? Could my husband and I, as his Power of Attorney, arrange to place the deposit Bond into one of the schemes on his behalf, without it having an adverse affect on our own tax situation, or position as landlords in our own right.

Your help and advice would be greatly appreciated.


05/07/2008 00:00

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