Page 410 – Property118

Landlord Action launches rebrand

1st February 2022

Today, eviction and housing law specialist, Landlord Action, launches a new visual identity to celebrate the transformation of the business over the years and to support its expansion as it moves to offer a wider range of legal services and expertise to the property sector. The launch includes a brand-new website, which is now live, […]

January house price inflation at 11.2%

1st February 2022

The latest January Nationwide House price index is reporting the strongest start to a year since 2005 with inflation running at 11.2% up from 10.4% in December with January prices up 0.8% month-on-month. The average price of a home in the Uk now stands at £255,556 Robert Gardner, Nationwide’s Chief Economist, said: “Housing demand has remained […]

What is the best Landlord accounting system?

1st February 2022

Hi All, As a Landlord, I have been using Rent Central software for my accounts up until now. However, it has now ceased operating and I need to find an alternative I would like to ask what everyone else is using please and if they find it easy to get on with. If anyone has […]

White piggy bank tipped over with coins spilling out, symbolising rent arrears and financial loss

Top savings deals vanish

31st January 2022

The start of 2022 has seen some of the top rate deals vanish from the saving market, according to the latest analysis by Moneyfacts.co.uk. Indeed, since the start of January, both market-leading deals and several deals that placed in the top 10 have been withdrawn. Since the start of 2022, several easy access accounts, notice […]

How often should a Fire Risk Assessment be upgraded?

31st January 2022

Hi everyone, I own a property in a Victorian building with four other owners. We had a fire risk assessment carried out in 2013, and I am wondering if there is a legal requirement to have this upgraded or reassessed, assuming the original recommendations were implemented at the time? Many thanks Lusso Editor’s Note: From […]

Tricky lease situation/nightmare?

31st January 2022

Hi, I realise I need professional assistance for this, which I plan to do in the following weeks, but I am wondering if anyone has any advice. – I bought a property with a short lease of 26 years remaining. The property was approx £100,000 with an estimated cost of £70-80,000 to purchase the freehold. […]

Ending ground rents for new, qualifying long residential leasehold properties

31st January 2022

Leasehold reform in motion with the first groundbreaking leaseholder reforms becoming legislation, ending ground rents for new, qualifying long residential leasehold properties. Independent Buying Agents, Haringtons, reflects on the long-requested need to transform leasehold agreements and what impact this will have on the property sector.  Nina Harrison, London specialist at Haringtons comments, “This first stage […]

Happy Tax Day, BUT NOT FOR ALL

31st January 2022

If you are a private (unincorporated) landlord, 31st January 2022 was the last day to pay your tax on your rental profits for the 2020/21 tax year without incurring penalty interest. Were you shocked at your tax bill this year? Below is an example of a private rental business owner who consulted us last Summer. […]

Avoid potential problems as a result of pending carbon monoxide safety legislation

28th January 2022

UKALA has cautioned Landlords and letting agents to act now to avoid potential problems following the announcement that the government intends to pass legislation to extend the requirement to install carbon monoxide alarms in all rental properties in England with fixed combustion appliances. Previously the requirement only applied to solid fuel appliances. Social housing will […]

Let to Buy condition on not being Freeholder?

28th January 2022

We have Let to Buy (LTB) mortgage offers, but they are conditional on the freehold not being held in my name. How can we get past this with minimal tax implications and expense? Time is of the essence as we have a new build we are due to exchange on very, very soon. The freehold […]

London Property Prices In 2022

28th January 2022

What’s in store for London Property Prices in 2022? In this video, I’m going to be sharing with you some of my predictions, and I’m also going to share with you my top tips on where you should be looking to invest to make property investment profitable in London. Please click on the video below:

A laptop showing stacked coins

Council Bond and DPS now the rent has increased?

27th January 2022

The council is just about to release money held in a deposit Bond which I now have to protect in the DPS scheme. The Bond is held with the Council as such time the tenant pays the total amount of it, to them (spread over 2 years). At the time the deposit bond was 5 […]

Lenders catering for staycation BTL demand

27th January 2022

Consumers looking to take out a holiday let loan to satisfy a rise in demand for UK holidays will find a notable rise in product choice since 2020. According to analysis by Moneyfacts.co.uk, there are now more than 200 deals available in this niche arena, treble that of August 2020 and a rise of 25% […]

My dad wants to open a Ltd company in my name and buy land?

27th January 2022

My dad wants to create a limited company under mine and my brother’s name and then buy land with it. He plans on building something commercial and might take out a loan. He said he would put the land and company under mine and my brother’s name. This is just in the discussion phase, and […]

Ome launches new portal

27th January 2022

Ome is today launching a new platform for its members which will further improve the overall experience of deposit free renting and the customer journey for Ome’s Deposit Replacement members. The innovative new portal, which has been in development since the middle of 2021, follows extensive research into how to create a much slicker customer […]

Profit Margins and expenses – there’s easier ways to earn a crust?

26th January 2022

When looking for a comparison of typical Private Rental Costs v Income I struggled. The Tax return asks for number of properties [SA105 box 1], Income from rent & property [box 20], They ask for Expenses- rent, rates, insurance, ground rent [24] repairs & maintenance [25] allowable finance costs [26] legal, management, professional [27] Less […]

The pandemic has exacerbated a supply crisis now facing tenants

26th January 2022

23% of private landlords faced rental income losses as a result of the COVID-19 pandemic. With those landlords affected almost twice as likely to sell property as those who were not, the National Residential Landlords Association is warning that the pandemic has exacerbated a supply crisis now facing tenants. A new poll by YouGov for […]

Council tax exemption on dilapidated purchase?

26th January 2022

A landlord client has bought a probate sale property that is not quite dilapidated but is barely habitable (depending on your definition of ‘habitable’). There is central heating but no boiler. The place is filthy, and he intends to take the house back to the bare brick and completely remodel it, extending the square footage […]

Tenants (contract Holders notice) Wales regs?

26th January 2022

While reading the new Welsh Contract holder regulations due to come into effect, it left me with questions, I have many but the main three are:- Firstly – Is it correct that tenants (sorry contract holders) can terminate a fixed-term contract at any time, just by giving 4 weeks notice? This seems stupid that the […]