Binks

Registered with Property118.com
Tuesday 29th December 2015


Latest Comments

Total Number of Property118 Comments: 65

Binks

15:39 PM, 20th September 2021, About 3 months ago

Cautionary tale to include fire cover clause in AST!

Reply to the comment left by Carole Wicklow at 20/09/2021 - 09:43
I suspect what the adjustor is actually saying is the insurance company is only responsible for costs incurred by you, the insured party. They are not responsible for your tenant’s costs, unless you can show that you have somehow contracted to be responsible for those costs (which is where the AST comes into it).... Read More

Binks

15:31 PM, 20th September 2021, About 3 months ago

Cautionary tale to include fire cover clause in AST!

Reply to the comment left by Ian Narbeth at 20/09/2021 - 14:41
Agree with you Ian, a regular AST doesn’t make it a landlord’s contractual responsibility to cover alternative accommodation and costs of moving, so insurance will not consider it a cost incurred by the insured landlord and hence it’s not covered.

Tenants are responsible for contents insurance and there are tenant covers available that provide alternative accommodation if their rented home becomes uninhabitable due to damage.... Read More

Binks

18:01 PM, 3rd September 2021, About 3 months ago

Section 24 Tax Is Now Hitting Tenants Hard

Reply to the comment left by Mick Roberts at 03/09/2021 - 17:49
Mick I’m curious - are your friends’ properties owned outright? With no mortgage, Section 24 makes no difference. Otherwise I can’t imagine they’ve not noticed the impact on their taxes?... Read More

Binks

13:33 PM, 3rd September 2021, About 3 months ago

Section 24 Tax Is Now Hitting Tenants Hard

Reply to the comment left by Mark Alexander at 03/09/2021 - 13:13
My comment was purely with regard to incorporating an existing portfolio - which is a niche solution really viable only for large landlords.
I totally get why tax planning for landlords in general is keeping you very busy, it’s a minefield out there.... Read More

Binks

12:29 PM, 3rd September 2021, About 3 months ago

Section 24 Tax Is Now Hitting Tenants Hard

Absolutely agree with most of your points Mark. However, I’d challenge the statement that many landlords don’t know about the possibility of restructuring their business into a limited company without incurring penal tax implications on the transfer. I’d hazard a guess that most landlords who don’t know about this possibility are actually landlords who couldn’t go down this route anyway, simply because they don’t own enough properties to satisfy one of the prerequisites.... Read More