Case Studies
With a history of over 50 years in Estate ownership and management, our knowledge and experience provides us with a wealth of ability that we can draw upon to help guide our clients through the complexities of their Estates. The following is a collection of case studies, based on real clients and real situations, that serve to illustrate the service that we offer.
Sue's Story
Sue had recently divorced after a marriage of 10 years. With her husband she had developed a large property portfolio, but when they started a family, Sue's husband took over the business while Sue concentrated on raising their three children.
“I’d got plenty of friends to discuss things with but they were more of an emotional support for me but deep down“ Sue reflects gratefully. “I needed much more than that. I needed someone looking at the wider picture. I soon realised that I needed some help so after some rooting around I came across Bleier Estates who seemed to be just what I needed. My first consultation was free so I’d got nothing to lose and went along to test the water”.
With the assistance of Bleier Estates, ownership of the marital home has been transferred to Sue who still lives there with the three children. Part of the property portfolio has been transferred and held in trust for the children, and maintenance for Sue and the children was secured to the satisfaction of both parties. Sue’s ex – husband maintained his business interests and a retained a proportion of the property portfolio.
“A few weeks later there I was, I’d got a plan worked out. I had it all mapped out in front of me - what I was going to do, what the children and me needed, some proposals on how to split up the estate and what to do with the marital home to ensure that we were financially secure.’ I was really confident and knew what I wanted when I went to my solicitor. He was impressed and even commented on how much easier it made his job”.
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Irenes's Story
When a death in the family brought the future of the family estate to the fore, the estate holders really did not know which way to turn.
“When Graham died, he pretty much took the business with him – he had it all in his head. He did everything, but at the time I didn’t mind because I had my own career and I was happy not to be involved. When he died, I didn’t even know where our bank accounts were. My immediate family erupted and I knew that I had better get things under control”.
Not long after, the Estate Agents became involved. The existing tenants had started to stir up trouble, and the demands from her family were really beginning to wear her down. Irene soon realised that if she was not careful, she stood to lose more than she could gain. With the help of Irene’s solicitor, Bleier Estates were appointed as her agent with a power of attorney so that they were best able to reach a solution that was amicable to everybody involved.
“Everything was explained to me in language that I could understand, and for once I knew exactly where I stood. To give an example, it was only when Bleier Estates started finding out just how much the estate was worth that I was informed of the tax liabilities. Up until then, I had been pressured from all sides to hand out as much as possible, but just by knowing the tax issues I was able to make a much more informed decision. Bleier Estates introduced me to some very good accountants and tax advisors who were able to set up a plan that both suited my needs and would stand the test of time”.
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Fiona's Story
When her dreams and expectations were overtaken by the harsh reality of actual experience, For Fiona, Landlording had become one of the worst things in her life…
“When I got divorced, I moved into a new development and had a great time putting my live back together. The second phase of the development was just about to start and we were all invited to purchase apartments ‘off plan’. I had some money spare, so bought the flat and thought I’d got a really good deal”. Having paid the deposit, swiftly followed by full payment for the flat in advance, Fiona was promised a completion date that did not happen. However, she had appointed an Estate Agent a full year before it was actually ready “I don’t know why – I got myself hopelessly tied in”. Unperturbed, another company was employed to furnish the flat and Fiona felt able to sit back and wait for the profit to come rolling in. Then there was the insurance, the break-in and worst of all, the seven month void period.
“I can talk about it quite easily now because looking back, I didn’t have a clue. I ended up with a mortgage that I had to subsidise, tenants paying less than what it was worth and masses of competition in that development. My accountant did the accounts at the end of the year and was ambivalent to the matter – no help whatsoever”.
With the assistance of Bleier Estates, Fiona re-mortgaged the flat, increased the rent, dismissed the agent (who used to take all of 12.5% of the rent along with a yearly introducers fee) and was finally able to own a profitable apartment with happy tenants. “To have someone on your side, your team, who knows the business inside out is such an advantage…Someone who has been a landlord and has seen it all before. Bleier Estates clearly know their business, and they helped me get straightened out at a time when I felt there was nowhere else to go but down”.
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Peter's Story
A new housing venture needs funding and the property portfolio just is not producing the revenue that is needed. What would you do?
Setting up a new business venture of his own and needing to raise some capital for investment, Peter knew that while his mother’s property was currently a liability, it could become an asset to both his family and business - if only he knew how.
When Peter’s father died, leaving his elderly mother to deal with the estate, it quickly became apparent that she had no idea what to do with one property in particular. The history was very sketchy, she knew nothing about the tenants who were renting it or even how long they had been in residence - there were no tenancy agreements to be found.
Peter’s mother had little knowledge of Housing Law and was eventually forced to seek legal advice; an exercise that would prove costly and short lived. The property was becoming a liability to her and her family and the stress of it all was also taking its toll on her health. She realised then she needed some help so she asked Peter to oversee the property on her behalf. However, with little knowledge about the property, its tenants and what his rights were as a landlord, Peter soon began to struggle.
Peter approached Bleier Estates Ltd on recommendation from an associate who had recently experienced a similar situation. Bleier Estates had assisted him to realise some liquid assets from his property portfolio by identifying options that were available to him.
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Jonathan's Story
Highly successful at acquiring rental properties, Jonathan’s business grew and grew. In fact, it grew so fast that the structure beneath it started to crumble.
“I got to the point where I felt like I was stamping on fires all the time” says Jonathan “Business was great – I had more deals than I could handle, but when the phone rang, it was always a tenant with what was to me nothing short of interference. I was trying to buy more properties in the daytime, and at night I was just dealing with problems from tenants – I was working more than 24 hours a day".
What I got was a fresh pair of eyes who could look at my business and find where all the faults were. We addressed a few internal issues and made some changes to the structure of my companies – something I thought my accountant would have picked up – and then we found, vetted and interviewed some companies that could take over the maintenance and building side of the business for me. I’d never thought of doing that – checking them out – before, simply because I was so used to doing it all myself. I suppose I’d grown up and become a big business and never really noticed!
So all the stuff that I am not that good at I now get other people to do which is great because it leaves me free to do what I’m good at – what I like – which is putting deals together. On top of that I get to spend more time at home, more time on holiday, I’ve got money to enjoy and I can actually get out to play golf again!
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Howard's Story
Clients often visit Howard in an extremely vulnerable and emotional time in their lives - after a death or a divorce and, while good at delving through the legal stuff, Howard admits solicitors are often not so good with the emotional stuff.
Very often clients arrive on his doorstep totally unprepared and have no idea what their options are, what they want or need or indeed what they even have in their portfolio. Some may not know where vital documents are or where they can be located. This can end up being a time consuming and extremely expensive experience for his client.
A vehicle to assist, steer, support and prime his clients. prior to a visit at his office is, Howard says, crucial to a swift and positive outcome. “They need to be prepared, armed with all the essential facts, documents and most importantly to be supported emotionally”.
Bleier Estates is one such vehicle.
“If only more clients knew that this service existed the whole procedure could be much smoother, cost effective, less time consuming and far less painful”.
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