ASK475: How do I de-risk with delayed completion? PLUS: Should I use a Limited Company?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 6 May 2025

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s time for the latest edition of Ask Rob & Rob - let’s go…  (0:38) Phillip’s buying a property with sitting tenants and a six-month delay between exchange and completion. He’s negotiated a discount, but wants to ensure he’s protected during that gap from potential risks like unpaid service charges or maintenance issues, and asks Rob & Rob for their advice. (3:58) After successfully renting out his first property for the past three years in his own name, Darren’s now looking at buying his next one through a limited company. He wants to know if it’s possible to hold one personally and one through a company and what the benefits might be. Enjoy the show? Leave us a review on Apple Podcasts - it really helps others find us! Sign up for our free weekly newsletter, Property Pulse Send us your question by calling us on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply) or click here to leave a recording via your computer instead. Find out more about Property Hub Invest

Transcript

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0:00.0	Hi, I'm Rob.
0:03.0	And I'm Rob.
0:03.6	And this is Ask Rob and Rob.
0:06.2	Hey everyone, welcome to Ask Rob and Rob, the show where you give us your amazing, wonderful, delightful questions,
0:11.6	and we do our very best to give you some value in return by answering them.
0:15.3	It's a format that's worked very well for a long time, so let's continue that.
0:18.6	But before we do, let's remind you of how you can get
0:21.7	your questions onto the show. Yes, so, so easy. All you've got to do is go to property hub.net
0:27.0	slash ask. And once you're there, you can send us a written question for Sunday Times, or
0:31.4	our preferred option, as you can, let's hear your wonderful voice and leave us a question for this show here, which is exactly
0:37.6	what Philip did.
0:39.1	Hello Rob and hello Rob, it's Philip Hatch here. My question is about taking on sitting
0:43.9	tenants, especially when exchanging with delayed completion, which we have to do in my example.
0:50.4	It's going to be about six months. I want to protect my interest and risk between the
0:55.3	point of exchange and completion. I've negotiated a 10% discount of what I believe is market
1:01.6	value in return for taking on the seller's lichen tenants, which I think is a good deal. But
1:06.8	obviously between exchange and completion, I want the seller to carry on paying the service charge and not rack up a debt on the ground rent account.
1:16.8	It's a lethal property.
1:18.5	And also importantly, carry on dealing with any maintenance issues that may arise.
1:24.6	I want to complete with the property in the same condition that it is upon exchange.
1:29.9	And anything else I haven't thought of that is a risk with exchange of the delay completion.
1:34.5	We take them on fitting tenants. Obviously, I know that I'm legally bound to complete once that
	...

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