captainb
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Posts posted by captainb
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13 minutes ago, dances with sheeple said:
Who will buy the BTL`s, and at what price?
FTB about 5% below the mad covid peak as latest data shows.
Seemingly mad but there you go.
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3 hours ago, Confusion of VIs said:
The get nothing in France because they do not make as asylum claim in France as they are in transit to the UK.
This is their legal right, as despite all oft repeated claims of various Tory ministers there is no obligation to make a claim in the first safe country they reach.
The French have repeatedly offered to allow the UK to set up processing centres in France, which would remove the need/incentive for anyone to cross the channel. the UK government rejected this because they thought they could hide behind the Channel leaving the French with the problem.
The average Frenchman in the bar thinks France should just put everyone who wants to go to the UK on a ferry and if the Brits don't accept them stop the ferries running until they do.
Then the issue is asylum shopping.
Don't blame the individual for shopping around.
Don't think it's sustainable to justify to those funding it long term.
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5 minutes ago, Unmoderated said:
The break clause gives the tenant the right, not the obligation, to terminate the lease after 2 years. Therefore the benefit of the rent free period and the minimum lease payments are recognised pro rata over the minimum lease period that is to say up to the first break clause.
IFRS 16 and IAS 12 IIRC from my ACA exams
The break clause will always be contract specific.
The grey area is when the tenant has the potential opportunity but not obligation to break the lease dependant on a factor other than time.
Typical ones include if rent has risen by more than X % where the landlord has the opportunity but not obligation to raise rent by RPI plus X yearly.
Other ones surrounding performance of obligations (more typical in part building lease).
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1 hour ago, Unmoderated said:
That's not creative accounting. It's the accounting standard. If you sign a 5 year contract with a £100K rent but first year free, with a break clause after 24 months then you, as the vendor, can only account for what is contractually guaranteed so it would be 100k over two years. The final three years are contingent on the tenant not breaking the contract.
The point is you do spread the cost over the lease but it's the minimum contracted lease.
Agreed but when is a break not a break?
My argument would be a break is only a break if tenant can do so on demand (with appropriate notice). No other conditions.
If you start to argue a lease is only say 2 years based on a break that requires multiple factors outside the tenants control then that's not the min term of the lease.
Thus if assessing an investment would push accounting to full length of lease unless evidenced it is a true tenants choice break.
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Make the benefit system in its entirety contribution based.
There you go. Come work no issue come don't work then tough luck
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1 hour ago, Unmoderated said:
You'll have to talk me through how they're doing that.
You normally spread the rent period over the length of the lease.
I.e. 5 year lease, 1sr year free, next 4 years at 100k per annum is actually an 80k per year bill and should be accounted for as such.
They historically got a clause in the lease that said if these bizarre conditions which never will happen are met you can exit the lease.
Then accounted for the rent free upto that break. Say year 2 in example above.
Therefore you make year 1 and 2 rent 50k, then shock horror it jumps to 100k year 3.
Makes your year 1 and 2 figures look good if head leases are your main expense... Year 3 to 5 looks nasty though...
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5 minutes ago, Unmoderated said:
Not so sure about this particular organisation but the $47bn valuation was always horeshi!t. They tend not to own anything and just have long term fixed contracts with the landlords. The issue was they'd invest in these places, make them cool and happening and at some point the lease expires and landlord hikes the rent to crush their margins. They can only really profit for a number of years.... but as ever corporate America looks only to the next month end.
Yes, they also have had historically the tendency to do some creative accounting with the initial rent free period on the lease and the fit out.
On mental valuations curve card was pitched the other day at 300/400m
Revenue like 20m, loss 60m a year.
I'm skipping thanks.
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The private offices are okay..
The free for all space doesn't work.
Like hot desking but without the ability to go to the annoying loud mouths boss to tell him to keep it down.. as he/she works for someone else
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8 hours ago, petetong said:
Not according to this:
Put the scale to two years for reality
https://www.ice.com/products/27996665/Dutch-TTF-Natural-Gas-Futures/data?marketId=5600523&span=3
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12 hours ago, burk said:
But was he?
He was every bit a hostage to party factions the same as every Tory leader thus far. So same instabilities just a different govt.
Also that he campaigned to remain going against his own intellectual beliefs of some 50 odd years looks incredibly weak to an electorate.
Then add in the Momentum goons surrounding him, (Labours equivalent of the ERG) and I'd proffer just as bigger shit show as we have now but would've gone broke faster under Corbyn than the present shower........
Voting is pointless at present until we see heads on spikes around Whitehall and parliament, then it might be worth something again.
Forget where I heard it, probably a podcast where the guest described most uk politicians and the PM as having all the gravitas of a company regional manager.
About sums it up.
Difficult to ask for loyalty as a leader from your MPs, when you spent decades rebelling against all the previous leaders as an MP.
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17 minutes ago, kzb said:
Well there you go. Here in a microcosm we see the benefit of being able to shop around in a competitive market. Prices for this product range from £1.44 to £2.50 a can.
If we were confined to a 15-minute zone we could be stuck with the highest price supplier.
Well...don't hold your breath. Energy is still expensive.
Real world please...
If we are in District 5 with judge dred...
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2 hours ago, 70PC said:
What is the value of the service versus the cost? £500 a month to clean windows and cut communal grass looks expensive.
Irrelevant sadly. Which is why the system is a nonsense.
Easy to get your cousin in to cut the grass then charge X plus 25% admin mark up
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28 minutes ago, desiringonlychild said:
If you want them to go back just destroy the NHS (not that there is much left to destroy), they will then go back to their home country after years of paying taxes. It's the (native) British who would be stuck here paying 100k for cancer treatment (and no Dubai doesn't want you when you are no longer a working adult). I kept my citizenship for this reason.
Not really my point....
Which was do immigrants not get old?
Because if they do trying to prop up a population pyramid with immigration is like trying to push water up hill.
At some point you just have to accept that population needs to stabilise.
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25 minutes ago, desiringonlychild said:
Birth rate was a lot higher in the past and we didn't have so many sick people... By definition people who immigrate aren't usually sick.
Today's Brits have a plethora of health problems including mental health issues. They are also less willing to live in cities and to share rooms and houses but yet those jobs need to be done.
Do they not get old though ....?
Then what? Another 2x?
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1 hour ago, nero120 said:
But then who's buying their London properties? Or are they making offers without a offer on their place, or with a brittle chain? I have no idea but it seems to defy logic.
(Less) properties are still selling in the real world at prices above pre covid levels. Which does surprise me but this forum is a bad guage (as is a foxtons estate agent Christmas party)
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32 minutes ago, Armus said:
But you can’t obligate someone else to pay it without their knowledge. If that was the case I could get one and say captainb is my inheritor and has to pay.
Who pays it if the occupant dies with no family?
Well no.. if you inherit a leasehold flat then you as the lessor are liable for the service charge.
Ultimately if you refuse to pay they can take the lease so.. your choice. If you left me a leasehold flat, I would sell it and pay the service.
If the occupant dies with no family and no will, it goes to the state who will auction at first opportunity deducting the service charge from the proceeds to settle. Assuming no debt secured against it otherwise it goes to them, and any proceeds on top get distribution after costs including the service charge.
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1 hour ago, Armus said:
Is that what the contracts say? I saw the comments in the OP and don’t see how that can be legal (unless the inheritor also signs the contract).
It's a service charge.
I.e. on a sq ft basis doesnt matter if it's empty to be sold or has Mrs miggins falling over every other day
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1 minute ago, Si1 said:
Great post. I forgot this. Clearly qualifies what I said. Liverpool is on sandstone which probably helps explain why it has underground stations. Even Lime Street Station seems to be quarried partly into rock.
Geology has tons to do with it
Why Manhattan had tons of skyscrapers even the 1930s. It's a massive piece of solid rock you can drill into.. London clay good luck! Took till the 90s really to build tall
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1 hour ago, kzb said:
I think the percentage that go to work by train in the Manchester area is in single digits.
Yes I know but so is HS2 and so is upgrading intercity services.
Ever watched "Secrets of the Underground" on Yesterday ? The amount of tunnelling in London is unbelievable. When you are in Piccadilly tube station, there is an entire disused station right next door, underground.
They can afford it there no problem.
Also a lot to do with the type of ground in London.
North of the river is mostly clay which is easy to tunnel (even in Victorian times).
South of river is mostly sandy, which is very difficult.
Hence more overground lines.
"Tunnels in London Clay
London Clay is an ideal medium for boring tunnels, which is one reason why the London Underground railway network expanded very quickly north of the River Thames. However, south of the Thames, the stratum at tube level is composed of water-bearing sand and gravel (not good for tunnelling) with London Clay below, which partly explains why there are very few tube tunnels south of the Thames."
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5 minutes ago, Trampa501 said:
You are spreading the message constantly that immigration is bad and causes high house prices (it doesn't - that's mainly down to interest rates and credit supply). To me that is hate speech. It's a bit like the Welsh nationalists blaming English influx for causing high house prices. To me that's equally hate speech
Why can there be only one reason?
Notion that availability or lack of credit doesn't impact prices is bizarre.
Notion that adding twice the population of Liverpool in a year, to the population, without building sufficient housing doesn't impact prices is equally bizarre.
P.s. people selling in London can definitely outbid your average Welsh national for those beauty spots.
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22 minutes ago, Wurzel Of Highbridge said:
What advantage would developers' being in the office 2/3 days per week be?
From my experience, being in the office = far more chatting $h1t about tv programmes, apple hardware and irrelevant hobbies, pointless meetings about meetings, lunchtime pub beers at Wetherspoons and sipping coffee in the kitchen.
It also hobbles any attempt to have a remote office abroad, such as in the US or India, as then you specifically have to cater for them - i.e. It's no longer the norm that people are de-centralised.
I see value in well-managed and put-together sessions, however, in practice, these seem rare in any company.
Ensuring that the rest of the teams come back to the office.
People won't come back in 3 days a week without making it a HR issue..those that do come back just get pissed off that only 50% did making the office commute pointless, so needs to be a stick to get upto 80% etc.
To make it HR issue need to be consistent across all teams/people with the same contractual terms.
It's where a lot of mid sized firms are at the moment. Most larger corproate had battle q4 last year q1 this year
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22 minutes ago, Zzzzzzzzzzzzzzzzzzzzzzzzzz said:
Wonder how consulting is holding up due to IR35 shift... have noticed many in my network who were consultants throwing in the towel.
Depends where from what I've seen.
Major banks won't consider it these days unless actual de facto project work with an expected delivery date (and not the classic manjana manjana re contract extension)
If you want to work somewhere smaller still possible but rates not that good
Actual subject matter experts can come in and charge X per day still of course, but that is and has always been genuine consulting
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Personally think those moving for remote work are doing so to get it contractural rather than just cos Dan said during covid, before the option of 5 days a week WFH dries up (almost) everywhere
Even zoom is demanding back to the office.
Other option is to go remote consulting which is possible although competition with anyone and everyone charging Indian rates etc so depends on your network
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1 hour ago, canbuywontbuy said:
Can someone steelman me a sales pitch for London in 2023? Any takers?
What context? Property?
If you have no morals, get something run down, turn it into a HMO of bedsits and rent each one to the council. Returns a plenty (sadly).
On a more general note, if you are banking on long term (most) employers allowing WFH on a 1/2 days a week I think you are probably safe that's a reasonable bet long term.
If you are banking on coming into the office one day a week max forever (hence buy in say Sheffield with London job), that is unlikely to be sustainable with current trends. Particularly if you need to move jobs for whatever reason.
ECHR Madness.
in House prices and the economy
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Don't get why biological checks for age arnt undertaken on those claiming to be children and have gone through puberty (like in Germany, France, Denmark, Sweden etc etc).
Seems the right not to have teeth/hair examined trumps the right of other children not to have potentially convicted murderers in a gsce maths lesson. Madness.