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It's usually far more effective to learn from other people experiences than is it to learn from your own mistakes. "Readers Questions" are some of the best read articles on Property118.com. If you would like to seek the opinions of other landlords and letting agents why not submit a Readers Questions article of your own. We will not reveal your identity if you don't want us to. Any guidance offered by Property118 members is obviously done so in good faith and at no cost. It must not be construed as professional advice, even if the person offering the guidance is professionally qualified. It's good to know that you are not alone though and a bit of guidance can often be useful. No question is a silly question. If a question has been answered before we will let you know and point you to a link. We may ask you to post your question on another thread if it's been well commented on previously by people in similar situations or we may set up a brand new thread and bring it to our readers attention by including a link in our Newsletter. It needn't cost you a penny either :) Please see the form below. If you can't see the form please CLICK HERE


What is next on top of everything else for Landlords in Wales?

30/04/2017

I have watched with extreme interest, with many others I am sure, the developing catastrophe for some landlords due to section 24 Finance issues and then the Agents loss of tenant fees and then realised that on top of this in Wales we have Rent Smart Wales licensing (already enforced) and the new Renting Homes… Read more

Back to Back Letting for personal use tax question?

My conundrum is that we need to rent a new property so we plan to rent our existing personal property and then rent another property to live in. I am sure many people are in the same situation. however the question I have is around tax. Lets say I rent my flat for £2,000 a… Read more

Setting up a company to manage my own properties – is it worth it ?

Setting up a company to manage my own properties – is it worth it ?

I have 6 properties, some jointly owned with my wife, a couple with my sister. I do most of the day to day management, with two managed by agents. I’m toying with the idea of setting up a service company to manage the properties and charging say 15% to 20% of gross rent to do… Read more

How to use CGT allowance when you don’t sell your properties?

28/04/2017

I have never used my CGT allowance as I thought you needed to sell a property to use it. Someone has told me though that it can be used by putting it each year into trust for your children. My understanding is that you have to allocate it to a particular property. Is it the… Read more

Unethical property management practices

I am a landlord renting a property and was going to enter into a two-year tenancy agreement with a property management company. Prior to this the agreement was via a letting agent which outsourced it to the property management agency so at the end of the agreement with the agent, I thought it would make… Read more

Letting Agent changes terms and conditions?

27/04/2017

My letting agency has recently advised me of changes to their terms and conditions in which they are increasing their landlord (and tenant) renewal fees from £84 to £132. I am a landlord of two properties, one of which renews every 6 months with rent paid (to the agent) in advance. I believe these to… Read more

Rent Controls likely in Edinburgh!

Rent Controls likely in Edinburgh!

Shelter Scotland and the Green Party are now calling for Rent Controls to be introduced in Edinburgh. The Scottish Government has so far implemented every suggestion that Shelter has had for the Private Rental Sector whilst The Green party are currently the kingmakers in The Scottish Parliament so very influential. As housing is a devolved… Read more

Stamp Duty planning for purchasing partners plot?

26/04/2017

My partner (not married) owns a bungalow (principle residence). She has obtained planning permission for the demolition of the bungalow and to build 3 houses on the plot (1 x 4bed detached and a pair of 2 bed semi’s). My company (incorporated about a year ago to build and retain rental properties) has agreed to… Read more

Is there Stamp duty to consider if I use a Declaration of Trust?

Is there Stamp duty to consider if I use a Declaration of Trust?

I have a buy to let property which is solely in my name and the mortgage outstanding amount is £125,200. I wanted to do a declaration of trust between myself and my wife and I wanted to know if any Stamp duty is payable? Many thanks Kais

Transfer of unencumbered property from partnership to a Ltd Co?

Transfer of unencumbered property from partnership to a Ltd Co?

24/04/2017

I have done a fair bit of research on what taxes would be liable on the transfer/gifting of an unmortgaged property owned in partnership (not spouse) to a Ltd Co where the director’s are the same as the partnership. I understand, hopefully, that there is no SDLT to pay because there is no mortgage outstanding,… Read more

Boiler replacement costs – reasonable or not?

Property based in Essex. C09 postcode Rip out existing condensing combi boiler and replace. Boiler is being fitted back in same location. Any thoughts on price being quoted? I was anticipating around £2000 inc VAT. The quote from local independent Gas Safe engineer is below. We have listed all works to be undertaken by ourselves,… Read more

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