Gary Hodge

Registered with Property118.com
Saturday 14th July 2018

Trading Status
Sole Owner

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 4

Gary Hodge

16:31 PM, 5th April 2019
About 5 months ago

Worried to call mortgage supplier over consent to let

I've been letting rooms on and off to lodgers for 30 years, lenders aren't that bothered by it as long as the mortgage payments are made. As long as you are resident, its your main home, etc, you should be fine.
Are you letting on tenancies or licences?
I've not experienced, but have read, that insurers can be a little more pedantic. As already suggested ensure that you have adequate insurance.
Without wishing to add to your worries, brush up a little on HMO regulations as its preferable to stay on the simple side of things as a resident landlord.
Also, be aware that the VOA can impose business rates if you let 6 or more bed spaces, but the council are probably happy collecting the additional council tax in your situation.... Read More

Gary Hodge

22:24 PM, 19th July 2018
About A year ago

Rent A Room - your views

As a resident landlord, I welcome this consultation.

It has been decided to retain the tax exemption, so no declarable income if below £7500. Good news for those on the verge of HRT.
There has to be some shared occupancy, which is already in line with PIM4010, albeit 1 day per basis period is adequate.
Those using the RARA for short term lets may have slightly more difficulty in qualifying. Maybe a meal together will be sufficient?
Overall, very little change, other than there has to be some shared occupancy to qualify.
The consultation could have removed the exemption and replaced it with an allowance as per the ROI system, but they didn't.
The consultation could have limited the RARA to stays of longer than 1 month but they didn't.
This is all good news for resident landlords and short term let hosts.... Read More

Gary Hodge

16:25 PM, 14th July 2018
About A year ago

Rent A Room consultation will hit Airbnb style letting

Reply to the comment left by Andrew at 10/07/2018 - 18:46
Resident landlords will be required to comply with the HMO regulations if they meet the HMO criteria, including the room size regulations. There are 2 notable differences:
Resident HMO landlords may have licencees, not tenants, and therefore not be required to issue ASTs.
I can't find any legislation that prohibits a resident HMO landlord from occupying a room smaller than 6.51m in order to retain their status as resident.... Read More

Gary Hodge

13:28 PM, 14th July 2018
About A year ago

Rent A Room consultation will hit Airbnb style letting

Reply to the comment left by J lied03 at 14/07/2018 - 10:58
Annexes will not be affected by the consultation but residency of the main part of the property will be required. It's the residency aspect that is being amended.
Annexes can create a common law tenancy instead of a licence, both of which qualify for the Rent A Room allowance.... Read More