Agents Eye Column – October
Have you got your team on Board?
I was asked last week to talk at an event launching a new initiative aimed at helping the rural professional network to come together more, to share ideas and skills for the benefit of the people that we all provide services to. For me, working with people who are fun and enjoyable to work with is a key factor for success. A lot of the work that I am involved with, be that landlord/tenancy issues, succession planning, tax and wealth planning, renewables etc all involves a huge team of different professionals bringing different ideas and skill sets to the table. Our common goal is to help achieve the best possible outcome for our clients, be that reducing tax, increasing sale value or some form of ’emotional’ value and having a professional team that are not afraid of pulling in other professionals, stress testing new concepts and ideas and working in a fun and friendly environment.
It’s important that you as clients also enjoy working alongside your professional team and feel relaxed and comfortable in asking the awkward question and also stress testing the advice being given. We are never always right of course and that’s why often the best outcomes are achieved where there is input from all sides of the table. Choosing your professional team is critical therefore and ensuring that the team pull together for your best solution. Don’t forget that you need a good project manager and someone to pull the team together throughout the scheme/project.
I’ve had several things crop up recently on tenancy issues of late; we all know that the agricultural sector is unique in its tenancy sector and law surrounding it and I cannot stress how important it is to understand the time constraints on service of notice’s and applications. Succession is a prime example and it is so important that both landlord and tenant do not ignore the strict time limits set out for applications for succession on death. If your a Tenant, you really must ensure that on your death, which is often a very stressful time for your family, that they don’t forget to make the application to the lands tribunal, and if you’re the Landlord, don’t forget to serve the notice to quit otherwise all sorts of nasty permutations will ensue, which is costly and stressful to attempt to rectify. If you’re the tenant, add it to your will, at least it will be a reminder for them! Many of the forms are very prescriptive and failure to get it right may invalidate the application or worse, jeopardise a succession or notice to quit.
We’ve all learnt a lot about team work this summer, be that the Tour de France, Olympics or Ryder Cup, and I hope you can realise the importance of having a good team on board for your business that work together and help you become more successful for the future. Finally, we have a litter of gorgeous black lab pups at home, if there are any takers!
Best Buy-To-Let yields to be found in the North East
The best buy to let yields can be found in the North East and Yorkshire according to recent r... Read More