Page 424 – Property118

How much will it cost to solve my tax problem?

9th April 2021

My answer to this question is that a solution should save you money, not cost you money! Do you agree? Let’s look at this by way of an example: Just suppose that Mr & Mrs X discover that a complete overhaul of the ownership structure of their property rental business could save them £35,000 a […]

Rent controls make no sense with real terms costs falling in London

9th April 2021

Rent controls called for by Sadiq Khan would leave tenants across London worse off. Figures show that private rents have fallen every year in real terms throughout his time at City Hall and are now nearly 10% lower than five years ago when compared to the Retail Price Index. The analysis by the National Residential […]

Brentwood Council ‘Gatekeeping’ ordered onto the Naughty Step

9th April 2021

Brentwood Council ‘Gatekeeping’ have been found at fault by the Local Government Ombudsman for telling the tenant to remain in the property, after the court order, until the bailiffs evict them. The Landlord’s lost rent and bailiffs fees were ordered against the council, who must also issue ‘advice’ to their Housing Options staff, and go […]

Cladding Remediation: Cost of alternative accommodation?

8th April 2021

Sometime in the near future, the remediation of cladding issues will need to take place in several developments in which I own apartments. It is possible that complete external walls may have to be removed, such that my tenants would have to relocate for a period of time. I want to avoid having to foot […]

Smart Meter Installation – thoughts please?

8th April 2021

I had an email this morning from one of my tenants asking how I felt about granting permission for the installation of a smart meter. The tenant wasn’t concerned either way, but he was just reaching out to see how I felt about this. My initial thought was “fine by me”. However, I’d be interested […]

No confidence in legal advice from property experts?

8th April 2021

I own the freehold of a property consisting of two self-contained flats. I bought it at auction. There is no other title and there are no common areas in the property. I live in one flat and rent out the other. I have considered selling the property, but have been told that I couldn’t sell […]

Stuck with a student pod and no management company?

8th April 2021

I purchased our student pod in 2017, and it came with the on-site management company that offered a rental agreement stipulating that they would cover all the maintenance costs, would be in charge of letting the property out and would provide a regular fixed rental income on a quarterly basis. In October 2020, not only […]

Periodic tenancy estate agents fees response?

8th April 2021

After several years of paying renewal fees, and with the agreement of the tenant, I notified the agent that at the end of the fixed period we would be going down the statutory periodic tenancy route. THEIR RESPONSE: Terminate the contract following a successful letting of the property by us and the existing tenants remain […]

Staycations drive Holiday BTL choice

6th April 2021

The impact of the lockdown and lack of opportunity for international travel may well have incited consumers to consider staycations and, for those who are able to invest, a holiday let could seem appealing. The latest analysis by Moneyfacts.co.uk reveals a notable rise in the number of buy-to-let options for holiday let over the past […]

Ground Rent makes property an AST?

6th April 2021

I am selling a property with a lease of over 100 years Ground Rent of £175 pa with 10-year reviews related to inflation. My buyer has pointed that at some time in the future the GR will exceed £250 and the property will technically become an AST with rights of repossession by the freeholder if […]

Messaging app icons on a smartphone home screen relating to serving notices digitally

Lodger’s possessions abandoned in my property?

6th April 2021

I recently had to evict a lodger from my house. I gave them 28 days notice for causing a nuisance, but they did not leave, so I had to change the locks. Afterwards, I sent emails and Whatsapps to them explaining what had happened and that they had 2 weeks to collect their belongings. That […]

Returning expat CGT liability on selling main residence?

6th April 2021

Having lived in our main residence for three years my family relocated and moved abroad for my husband’s work. We are now back living in the UK and have been living in the previous main residence for the last twelve months. I was wondering what the CGT liability will be when we sell the house […]

NEW Commercial to Resi Permitted Development Changes Use Class E

5th April 2021

A simple to understand video guide to the new PD for commercial to residential Prior Approval process exposing NEW opportunities and changes to existing processes. Robert Jenrick MP announced a package of measures to revitalise England’s cherished high streets and town centres. New planning law enables unused commercial buildings to be changed into homes which […]

Keep or sell leasehold with ground rent increasing formula?

5th April 2021

I have a leasehold of a flat with Ground Rent of £250 that increases by either £250 or the rate of inflation every 10 years. 10 years are up next year, so Ground Rent will be a minimum of £500. Then the following 10 years will go up a minimum of £250 and so on. […]

Disability Grants – applicable before tenancy commences?

5th April 2021

We have a couple of ground floor flats, a one bed and two bed which up to now have been let to fully able-bodied tenants who have no special mobility requirements. Both tenancies will be ending shortly and I am acutely aware that these are sought after properties as a direct result of being directly […]

Helping Landlords Sell despite evictions ban extension to 31st May

1st April 2021

It was an evictions ban that was due to end on the 31st March, but the government has announced an extension to the ban on evicting tenants. A survey conducted by This Is Money showed that 70% of landlords have been contacted by tenants worried about paying rent. Tenants that can’t pay rent, and Landlords […]

Latest updated guidance for Electrical Safety Standards in the PRS

1st April 2021

From 1 April 2021 the Regulations for Electrical Safety Standards apply in all cases where a private tenant has a right to occupy a property as their only or main residence and pays rent. This includes assured shorthold tenancies and licences to occupy. Exceptions include social housing, lodgers, those on a long lease of 7 […]

2% Stamp Duty surcharge for non-UK residents from 1st April

1st April 2021

From 1 April 2021, a 2% Stamp Duty Land Tax (SDLT) surcharge will apply to purchasers of residential property in England and Northern Ireland who are not resident in the UK. Click Here The 2% surcharge applies to all ‘non-resident transactions’, even if you intend to live in the property when you buy a major […]

Person climbing ladder toward a glowing lightbulb symbolizing new property investment ideas

3 ways to get Generation Rent onto the property ladder

1st April 2021

I am sure we all have friends, and or family members, who are First-time buyers facing the challenges of getting onto the property ladder, not the least of which is finding the deposit. However, there are a number of solutions currently available. Mortgage Guarantee Scheme:  A new Mortgage Guarantee scheme is being launched in April […]

New polymer £50 note from 23rd June

1st April 2021

The new polymer £50 note will be issued for the first time on 23 June 2021, which coincides with Alan Turing’s birthday. The note contains advanced security features, completing our most secure set of Bank of England polymer banknotes yet. Like the £20, incorporates two windows and a two-colour foil, making it very difficult to […]