Page 405 – Property118

Understanding Commercial Service Charge Apportionments

23rd February 2022

I have a long commercial leasehold on office space in a mixed residential (apartments) and commercial (offices) development, though the commercial and residential units are distinctly separate buildings. We receive service charges every 6 months from the landlord’s managing agent. We receive ground rent demands every 12 months from the landlord’s freehold agent. There have […]

Renters face struggle to find homes as supply dries up

23rd February 2022

Demand for private rented housing remained strong at the end of 2021, according to new data released today by the National Residential Landlords Association. A survey of private landlords across England and Wales, conducted in partnership with the research consultancy BVA/BDRC, found that 56% reported a rise in demand for privately rented homes in Q4 […]

Only 54% of non-portfolio landlords aware of EPC requirements for 2025

22nd February 2022

Buy to let portfolio landlords are more likely to be aware of the government’s proposed EPC requirements than non-portfolio landlords, according to new research by Landbay. From 2025, all rental properties with new tenancies must have an EPC rating of at least C and for existing tenants, landlords must comply by 2028. The survey found […]

Property market supply falls by 21%

22nd February 2022

The number of properties listed with estate agents has fallen by an average of 21% in the last year. In January 2021, estate agents across England and Wales had an average of 33 properties on their books. This included both available properties and those sold subject to contract. Last month, that figure had fallen to […]

CGT on lease extension?

22nd February 2022

I owned a house as my main residence, which was converted into three flats and put into my BTL business. The three flats were held under a single title initially. I decided to remortgage the flats and had to put each flat under a separate leasehold title and create a single freehold for the 3 […]

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Wales rule change questions for July 2022?

22nd February 2022

I had been looking over the new model contracts under the new rules and was surprised that there were no fundamental or supplemental terms relating to agents or interest on late rent payments. I made enquiries and interest on late rent payments are an additional term agreed between landlord and contract holders. This surprised me […]

SDLT on Private Purchase of two properties to be combined to one?

22nd February 2022

We have a portfolio of properties rented out and are buying 2 attached cottages to make 1 private residence (the cottages are on separate deeds being purchased from the same seller). We are selling our main residence to fund the purchase. We are being told various amounts of what SDLT is due because of purchasing […]

New Material information disclosure guidance for listing properties

22nd February 2022

A property’s council tax band or rate and the property price and tenure information (for sales) must be included on all property listings by the end of May 2022 and these data fields will start to appear on portals over the coming weeks. These changes represent the first phase of a project by the National […]

Lazy and false assumptions that landlords are property tycoons

22nd February 2022

Government plans to end the cladding scandal are based on lazy and false assumptions that individual landlords are property tycoons. That’s the warning from the National Residential Landlords Association following comments made by the Housing Secretary, Michael Gove, to the Levelling Up, Housing and Communities Select Committee this afternoon. Speaking to MPs on the Committee, […]

The Last Chance To Get Your Deal Funded

21st February 2022

Have you got a property project that requires funding? Are you looking for a business partner or an Angel Investor to make that deal happen? Here is your last chance to apply to Property Elevator to get just that. Property Elevator is filming 1st, 2nd & 3rd of March. Apply here for a chance to […]

Ministry of Housing, Communities & Local Government

Amendment to Cladding Bill may force landlords to be treated equally

17th February 2022

Government plans mean individual landlords who are leaseholders renting out more than one property will be excluded from proposals, pledging that no leaseholder in a building over 11 metres in height will have to pay for the removal of dangerous cladding. An amendment tabled to the Building Safety Bill by the Conservative Peer, Lord Naseby, […]

Sadiq Khan wants Rent Repayments Orders doubled to a maximum of two years

17th February 2022

The Mayor of London, Sadiq Khan wants the amount that tenants can claim back if their home isn’t up to scratch doubled, to two years’ worth of rent, for the worst properties which pose a risk of death or serious injury. For London tenants paying the average rent of £1,425 a month this could mean […]

Older tenant walking aids required?

17th February 2022

I have an older tenant in a small one-bed ground floor flat. His walking is getting worse, and he is now using a small supermarket trolley to get back and forth from the shops to lean on and transport his goods, which is fine, but he now brings it inside. The front door immediately opens […]

13 Most Asked Buy To Let Mortgage Finance Questions

17th February 2022

Buy To Let (BTL) Mortgage Lending in 2022, this is part one of a two-part series where Akhil Mair, from Our Mortgage Broker, and I answer 13 of your most asked buy to let (BTL) mortgage finance questions. Please click on the video below:

Video Testimonial from Alphaletz CEO Richard Jackson

16th February 2022

Join Richard Jackson, Co-Founder of Alphaletz award winning App for landlords and Mark Alexander from Property118 as they discuss some of the reasons why incorporation could be good for Landlords in the UK. Richard talks about this own personal experience of being a portfolio landlord and some of the benefits of incorporation he experienced as […]

Average new build cost to rise 10.2% further fuelling house price inflation

16th February 2022

Research by Sirius Property Finance has shown that the average cost of construction for a new-build property is set to climb by almost £18,000 per unit, a jump that could cost UK housebuilders £3.2bn per year. The research by Sirius Property Finance shows that the current average cost of constructing a new-build home sits at £2,375 […]

Right to Rent – Unlawful discrimination consultation

16th February 2022

The Home office has opened a new consultation and code of practice applying only to residential tenancy agreements commencing on or after 6 April 2022. It also applies where a repeat check on an existing tenant is required to be carried out on or after 6 April 2022 to retain a statutory excuse: Click here […]

Tenancy Deposit Scheme fiasco – unilaterally terminated protection?

16th February 2022

I use the Tenancy Deposit Scheme insurance-based scheme. In my opinion, I would sooner pay a small premium to hold the deposit than have to jump through hoops trying to get payments for damages through the custodial scheme. If as a fait accompli you make a deduction from a deposit that you hold, the onus […]

Damage caused by neighbours overgrowth?

16th February 2022

Does anyone know how we stand regarding damage caused to our property by invasive plants in our neighbour’s garden? We’ve cut it back on several occasions over the years, but now it’s grown into the soffits at the back of the house where it’s hard to see, and caused damage. Can I ask them to […]

New Lows for Selective Licencing?

16th February 2022

We are no strangers to councils imposing Mandatory Selective Licences. We make representations at every opportunity even though we know they aren’t considered at all. I don’t generally disagree with the reported aims of such schemes, but there are few landlords who agree that the measures imposed do anything at all to help achieve those […]