Page 394 – Property118

Fire risk assessment wants new 60-min door?

8th December 2021

I have been told I need to replace a 30-min fire door (it’s a door in a communal hallway leading to an empty basement which is completely closed off and locked) with a 60-min fire door. Is this actually necessary? Due to the age of the building (Grand 2 listed) fitting a 60-min fire door […]

Tenants in arrears are falling further behind

8th December 2021

Average rent debts still owed by renters as a result of the pandemic have increased by 41% since May according to new research. A survey of over 2,000 private renters in England and Wales by research consultancy Dynata for the NRLA found that average COVID related rent arrears owed by affected tenants had increased to […]

Bristol, Oxford and Cambridge best cities to invest in for 2022

8th December 2021

Aldermore’s Buy to Let City Tracker1, has named Bristol, Oxford and Cambridge as the best cities for landlords to invest in for 2022. The Tracker analyses and assesses five key indicators that impact buy to let desirability: average total rent, the best short-term returns through yield, long-term return through house price growth over the past […]

Joint tenancy obligations for lad that has had to quit?

8th December 2021

The Basic scenario is: HMO joint tenancy, five tenants. On a fixed element for first 12 months. Then break clause kicks in at one-month notice upon renewal of the next contract due July 22. One poor lad (tenant) has had to quit university for his mental health, and he’s one of the joint parties. My […]

My latest UK Property Investment Deal

8th December 2021

See my new UK property investment deal and discover how you can apply this investing in property strategy in 2022. In this video below, I share my latest Property Investment Deal secured with group funding. Discover what this deal is all about and how you can find similar opportunities in 2022.

November house prices up 8.2% year-on-year

7th December 2021

The latest Halifax House Price Index for November is showing annual price inflation at 8.2%, a monthly increase of 1% and the new UK average house value standing at £272,992. The average house price in Wales has broken the £200k barrier for the first time at £204,148. Russell Galley, Managing Director, Halifax, said: “UK house […]

Ground rent reform – a sledgehammer to crack the wrong nut

7th December 2021

This week, the House of Lords will scrutinise the Leasehold Reform (Ground Rent) Bill 2021-22. When enacted it will impose onerous penalties and yet it signally fails to tackle what most MPs and the public think is its main purpose. Subject to some exceptions, it will become a civil offence to charge a ground rent […]

What happens to service charges if management company goes insolvent?

7th December 2021

I own a flat in a block of 20 flats, where the leaseholders jointly manage the flats under a management company. All the leaseholders are directors in the management company. One of the leaseholders is suing this management company (for disrepair and consequent loss of rent) and though we have made an offer to address […]

UKALA welcomes parity ruling for safety in all rented accommodation

7th December 2021

The UK Association of Letting Agents (UKALA) has applauded the announcement by Housing Minister Eddie Hughes MP that people living in social housing will be safer in their homes under new rules that will mean smoke alarms must be fitted in all rented accommodation. The announcement means that all housing providers are required by law […]

Smaller Liverpool Licensing scheme approved for 2022

6th December 2021

After having the renewal of the city-wide Liverpool selective licensing scheme rejected by the government in 2019, Liverpool council have been successful with a smaller scheme covering 16 wards of the city. Approximately 45,000 of the original 55,000 properties will be covered. The wards covered include: Central, Riverside, Greenbank, Kensington, Picton, Tuebrook & Stoneycroft, County, […]

Levelling the playing field for Peer-to-Peer Islamic Finance alternatives

6th December 2021

Her Majesty’s Revenue and Customs (HMRC) has made a welcome announcement as part of their ‘Building a trusted, modern tax administration system’, a principle first heralded by the government in July 2020. HMRC’s vision is to design a trusted, modern tax system that is simpler, easier to navigate, helps avoid non-compliance and is ‘fit for […]

Selective licensing in Southend put on hold?

6th December 2021

Hi, I just wondered if there are any articles going up about selective licensing in Southend? Only because I’ve had quite a bad experience and wouldn’t want other people wasting their time. I have spent two days filling out forms and then paid (although only £6) to find out the scheme has been put on […]

Domestic Reverse Charges for VAT?

6th December 2021

I am a Director of an RMC (Right to Manage company) and we recently had a Fire Risk Assessment wherein we were told all 30 Flats were required to have Fire Doors Installed. The Lease states that the individual Leaseholder is responsible for the cost of the door replacement, and I am one of those […]

Scale down a Property Portfolio and release equity the tax smart way

3rd December 2021

It’s a fact that more and more landlords over the age of 50 are choosing to sell or scale down their portfolios. either to retire or to change investment strategy to a less ‘hands on’ option, and it’s easy to understand why. The growth we’ve seen in property values over recent months has finally stalled […]

ECO3 New gas boiler – just a lot of hot air?

3rd December 2021

Another advert push for ECO3 and the installation of both gas lines (up to 23m) and new Worcester boilers. Is it REALLY worth doing given the total uncertainty and lack of direction as to where this is all going??? I have some tenants that may be within 23m of an existing gas line that currently […]

Underoccupied property?

3rd December 2021

Minister for Housing, Christopher Pincher, spoke to the Lords recently about underoccupied property. He wants the properties to be used more efficiently. What happened In 2015 the Finance act penalised landlords and some sold up. There was a large Victorian house off Bedford Hill in Balham which was an HMO. It was home to seven […]

Office of Tax Simplification CGT review put on ice by the Treasury

2nd December 2021

Chancellor, Rishi Sunak, commissioned a report from the Office of Tax Simplification (OTS) to look at ways of simplifying the collection of Capital Gains Tax and IHT. The OTS had recommended in the report that CGT be increased in line with income tax rates to 20% at the basic rate and 40% at the higher […]

Social housing delivery was on the increase pre-pandemic

2nd December 2021

Market analysis by real estate debt advisory specialists, Sirius Property Finance, has revealed that the level of social housing being built not only hit a 13 year high prior to the outbreak of COVID-19 but social housing as a percentage of all homes built also hit its highest levels since 2015/16. The analysis of the […]

1,000 a day contact Shelter

2nd December 2021

The Shelter press release below is critical of the winding down of the evictions ban and living costs inflation: Since the Covid restrictions began to lift in June 2021, more than 1,000 callers a day have contacted Shelter’s emergency helpline in England, new data reveals today. The charity’s free helpline, which is part-funded by M&S […]

3 months periodic after 3 months rent in advance?

2nd December 2021

Hi, Can anyone advise me, please? I use 6-month ASTs with monthly payments which would rollover to monthly periodic, but I’ve had some tenants offering 3 months rent in advance at the start of a 6 month shorthold tenancy. My question, I think I’ve read somewhere that if I accept, the periodic would then become […]