Page 333 – Property118

Rental market was chilled by the snowy weather

23rd December 2022

Freezing temperatures and snow-hit travel disruption had a cooling effect on the country’s rental market, research reveals. Vouch and Goodlord have looked at the figures and say that after heavy snowfall on 12th December, the number of tenancy applications being processed fell compared to 2021 levels. It might be a coincidence, but the weather was […]

Tenant rental dilemma?

22nd December 2022

An Agent has forwarded an application to me for consideration: A 21-year-old to rent a flat. In a job since July so financially on paper can afford the flat. Woking for 4 years before that apparently. Can pay own deposit and RIA. Her foster parents are moving away but she wants to stay close to […]

EPC – Is it private information?

22nd December 2022

Just come across something of interest and certainly a discussion point. You can opt out of the EPC register if you do not want other people to be able to see your EPC. (Contact the Department for Levelling Up, Housing and Communities (DLUHC).) There has already been a debate about if an EPC is private […]

Hydrogen Ready Stopgap?

22nd December 2022

Hi everyone, I am looking to replace a central heating boiler in a property with a new one and considering the new future-proofed options may be viable. I note that most central heating manufacturers are now supplying hydrogen-ready boilers to the market. The ongoing trials for these that are currently going ahead must be showing […]

Christmas Party Tax Allowances for UK Limited Companies

22nd December 2022

What is the tax allowance for Christmas Parties for UK limited companies? ANSWER (provided by “Artificial Intelligence”) In the United Kingdom, limited companies are generally allowed to claim tax relief for the costs of entertaining employees, including the costs of Christmas parties, as long as the entertainment is provided for the benefit of the employees […]

Doubling ground rent get-out clauses?

22nd December 2022

We have received an offer to vary a lease that originally contained a doubling clause by the developer. It has already been varied to increase by RPI to avoid that initial clause. The new offer from the developer born of the new rules introduced by the CMA is limited and we are excluded by virtue […]

Record year for landlord and agent fines

22nd December 2022

Rogue landlords and letting agents have been hit with fines that averaged £90,000 per month in 2022 in a sign that council enforcement is on the rise. The findings from tech firm Kamma reveal that more than 12% of all fines in Greater London were handed out in the last 12 months – that’s an […]

pic of a sold sign as stamp duty take rises property118.com

HMRC says stamp duty tax surges by 19% to £14bn

22nd December 2022

Stamp duty tax receipts in England surged by 19% between April and November to £14bn – an increase of £2.2 billion compared to a year ago, HMRC has revealed. In April, the levy was ‘dramatically higher’ after the stamp duty holiday ended in September 2021. In November’s Autumn Statement, Chancellor Jeremey Hunt announced the reinstatement […]

Pic of to let boards landlords feel penalised property118.com

Landlords feel unfairly penalised – but tenants want more regulation

22nd December 2022

A survey has revealed the gap in how landlords and tenants see the private rented sector – with most landlords saying they feel unfairly penalised, but tenants want more regulation. The findings from Market Financial Solutions (MFS) found that 63% of landlords feel that the Government has introduced too much regulation. However, 73% of tenants […]

Artificial Intelligence for Christmas

21st December 2022

We asked the Artificial Intelligence program we are using to write a Christmas poem. The brief we provided was as follows: – “Create a Christmas poem from Mark Alexander, Neil Patterson, and our Team of Tax Planning Consultants and Barristers, to send to all landlord Clients of the Property118 and Cotswold Barristers Tax team” This […]

Tenants left with electric meter broken?

21st December 2022

I had tenants move out with no notice, and no keys returned.  Eventually, I decided they were not coming back as they cancelled the Council Tax and I was told they had been given a council property. The gas and electric meter are key top-up payment types and the gas is a top-up card. I […]

Regularisation certificate for a dormer window landlord selling property118.com

Regularisation certificate for a dormer window?

21st December 2022

Hello, I have a regularisation certificate for a dormer window extension to an existing loft. I first applied for planning permission and got it under permittable development. The building regs surveyor for the council came on a number of occasions to inspect and made me take up a section of flooring to inspect and was […]

Most student landlords are ‘concerned’ over reforms

21st December 2022

Government plans to reform the student rental market will lead to chaos and confusion because students won’t know if there will be any housing available for them. The warning comes from the National Residential Landlords Association (NRLA) which says that widespread uncertainty will occur at the start of each academic year. The organisation says that […]

House prices to fall by 5% in 2023 – Nationwide

21st December 2022

Strengthening economic headwinds will hit market momentum and house sales to push property prices down by 5% in 2023, Nationwide warns. The UK’s largest building society says that a ‘relatively soft landing’ is still possible for prices since the housing market is proving to be resilient. Looking at what is in store for the housing […]

15 tenants compete for every London rental home

21st December 2022

The renting situation in London for tenants is laid bare with figures highlighting that 15 renters are competing for every new property, one firm says. The figures come from Foxtons and their rental index which shows that the number of tenants competing to secure a property for November is 31% lower than in October – […]

property prices, rents,

Tenant enquiries are four times higher than the number of available homes

21st December 2022

Not only was 2022 the most competitive rental market ever, but during peak periods there was four times the number of tenants enquiring about rental properties to move into than there were homes to rent. That’s according to Rightmove who analysed the data for the year to find out what tenants are looking for. The […]

Petition to reinstate mortgage interest tax relief?

20th December 2022

Since I reposted the petition link this morning, only 500 or so people have signed it! I appreciate not everyone would have read the post, but why are Property 118 not sending this out daily to all their subscribers? Such an easy way to help. I would have thought this would get to 100,000 easily […]

certificate of hmo use street scene property118.com

Certificate of lawful use as a HMO period required query?

20th December 2022

Hi Everyone, I hope you all are looking forward to as good a Christmas as you can. I was curious of the definite answer, if possible, of getting a certificate of lawful use (for planning) for a HMO’s use immunity period and thus the application evidence period that is required for this? Many planning consultants […]

Misted window

Replacement windows in a leasehold flat?

20th December 2022

Hello, The old uPVC windows in the leasehold flat I rent out need replacing but I am not clear if this is the responsibility of the Lessor or Lessee. If it is my responsibility do I need the permission of the freeholder & can they charge for giving this? The lease says: “the Lessee shall […]

Pay it off, half or not?

20th December 2022

I have a £100k interest-only mortgage outstanding on a tenanted property with a value of £150K. I have the money to repay the mortgage outright – it expires in 14 days. Should I repay it all? Repay half? or remortgage the entire amount with TMW @ min 3.5% + arrangement fees? I am trying to […]

hertsmere council business rates landlord tenants short let property118.com

Short term let business rates?

20th December 2022

Hello, I have recently switched a 1 bed property that I rented out long term rental into a short term rental. Early next year I will have to apply to pay business rates instead of council tax (which my previous tenant used to pay direct to the council). Does anyone have any experience of this […]