Hi, my lease ground rent has a six-monthly payment schedule, from which the leaseholder should send an invoice for the amount due. They have missed the last 2 invoices ( I haven’t received them via post) and, the first I heard about it was that the debt collection agency PDC issued a demand for the […]

Lettings agents are being urged to contact their MPs over the Renters (Reform) Bill since it appears that the upcoming Parliamentary recess means there is no time to debate it until the autumn. The call is being made by payment platform PayProp after fears that some issues that aren’t in the current Bill will be […]

Hello, I have a tenancy signed by two tenants as a joint tenancy. The tenancy is due to renew in Feb next year. Tenant A has verbally confirmed that she is leaving this month. Tenant B said she wants to stay and plans to renew the tenancy next year in Feb. Could anyone advise what […]

Latent Gains occur when the total liabilities of a property rental business exceed the total acquisition costs of the business, also known as ‘Base Costs’ for CGT calculation purposes. This is why it is so important for Accountants of property rental business owners to maintain an accurate balance sheet in addition to profit and loss […]

Hello, I have a problem tenant and served S21 in April. Only since the S21 expired the tenant has started to default on payments and I have only made 30% of the rent. I used the accelerated possession process to get an order of possession. I now have heard from the judge and the tenant […]

A new report has found that nearly 225,000 landlords could lose money on their rental properties when they renew their mortgages as buy to let rates approach 7%, the Daily Telegraph has revealed. An analysis from real estate firm Hamptons has found that 11% of all mortgaged rentals – that’s around 226,930 properties – in […]

Hello, my tenant’s current rental agreement ends in October. I need to give notice as the house needs modernisation and won’t be habitable. What are the important things to know? Is there a template notice document? I have an up-to-date gas certificate and EPC. There are no outstanding repairs. Anything else I need to be […]

Property sales are falling across the country due to rocketing interest rates, according to new research. Data from House Buyer Bureau reveals across Great Britain there were just 43,209 transactions in February 2023  this was -45.2% less than in December 2021. The Bank base rate currently sits at 5%, following a 0.5% increase in June. […]

New research reveals there are £21 billion worth of holiday homes in England and Wales. Letting agents Barrow and Forrester discovered there are 71,140 holiday homes found across England & Wales. Cornwall ranks as the nation’s holiday home hotspot with more than 6,000 properties worth an estimated value of £1.93 billion. South-West England ranks as […]

The Levelling Up, Housing and Communities Committee has been told that the Renters (Reform) Bill needs strengthening to prevent landlords from using a loophole to evict tenants for no reason. The follow-up meeting heard that under the proposals, the law will enable landlords to take possession of their rented property when they or a family […]

We remember the times when Birmingham Midshires allowed us to submit 100+ mortgage applications for one Client, in one week. Those were the days, but even now, with all of the new stress testing calculations, LTV caps, and restrictions on how many properties BM will allow you to have with them, we still have plenty […]

Hello, looking for some advice from Property118 readers. I currently have a lease with 65 years left to run. The property is a house and converted into two flats. My question is would it be a better option to buy the freehold or just renew the lease? Also, any recommendations on companies to help with […]

The Welsh Government’s plan to introduce a statutory licence for tourist accommodation providers has met with strong resistance from the industry and the public, according to a consultation report. The report, which summarises the feedback from 1,595 respondents, reveals that 65% of them opposed the proposal, citing various concerns and criticisms. Some of the main […]

Hello, my claim for accelerated possession was issued on 15th June. The court served the claim on the tenant on July 6th and they now have 14 days to file a defence should they wish to. My question is when do I send to the court my ‘Request for Possession order and costs?’ Do I […]

Hello, we have a student let. After some leaks last winter we have decided to replace the roof and install room-in-roof insulation. We were unable to do the work in a void period as we’d signed up the tenants before the leaks started. The builders can do the work from the outside and have advised […]

The Government’s plan to reform the rental sector may have unintended consequences for tenants, the Daily Telegraph reports. The Renters (Reform) Bill, championed by the housing secretary Michael Gove, aims to protect renters from unfair evictions and improve standards in rented properties. However, a government net assessment analysis warns that the Bill will also increase […]

Investing in property can be an incredibly rewarding journey, offering financial stability and the potential for significant returns. Whether you dream of becoming a landlord, a savvy house flipper, or a successful property developer, having a solid investment strategy is the key to making your dreams a reality. Today, we’ll guide you through the top-known […]

The Times is looking to speak with the next generation of landlords who are still investing in buy-to-let despite challenges around interest rates, tax and regulation. The piece will interview landlords who have recently invested in property for the first time or plan to grow their portfolio. Perhaps they have a unique business model which […]

Transaction levels have plummeted by -54% this year, according to a new report. Research by letting agents Barrows and Forrester, reveals both transactions and total market values of homes sold, fell by more than 50% across every area of England and Wales. The research shows that 147,223 homes have been sold in England and Wales […]

A leading industry body reveals 78% of agents believe that leasehold property with an increasing ground rent will struggle to sell. The report by Propertymark has highlighted ongoing issues in the buying and selling of leasehold properties. The Leasehold Reform (Ground Rent) Act 2022 restricts ground rents to zero but only on newly created long […]

Hi, I bought two houses in the 1990s and these have a D rating. One is a five-bed and the other is a six-bed house both of which are HMOs. I have made improvements as requested by the council to obtain and renew the HMO licences. Both houses are on three floors NOT including the […]