Page 479 – Property118

Vacant property and social distancing rules?

15th April 2020

Hi, I have a flat that will be vacant from this weekend and have been advertising for the past month before the lockdown happened. My question is I still get daily enquires and people wanting a virtual viewing. Am I allowed to be doing this and can I re -et the property? I would be […]

Tenancy expires during Covid-19 lockdown

15th April 2020

I am a landlord, having a 2 bed flat with 1 tenant. The tenancy agreement is due to expire early May. The tenant says he doesn’t know if he can leave. He also just told me he can only pay half the rent as he lost his job. I don’t mind giving him time to […]

Has anyone ever let a friend invest in their BTL property?

15th April 2020

Hi, I am looking for a bit of advice and wondered if anyone could offer any suggestions. I have a friend currently working in Bermuda, (but from UK), who is looking to get on the property ladder. They can’t get an overseas mortgage, but have around 20K that they would like to invest and have […]

Eviction process – Is this the new reality?

15th April 2020

How can landlords deal with anti-social behaviour by tenants? Private landlords have very limited power to take action against tenants in such matters, and our main form of deterrent (or eventual remedy) was the threat of eviction. Tenants know that this is can be a long process, so it is unlikely to change their behaviours, […]

Hit with a 9 month Rent Repayment Order from my Tenants?

15th April 2020

Hello, my tenants have served a Rent Repayment Order on me for 9 months of rent which is a lot of money. Under the grounds that I did not have a selective licence on my property. It is not a HMO, its a 2 bed terraced house. They found out I did not have a […]

Dormant Freeholders service charge demands

15th April 2020

Can anyone offer an opinion please as I  own some leasehold properties and the management company have sent service charge demands naming two Limited companies as freeholders. I checked both limited companies out via companies house which stated they were dormant and never traded! Does anyone have an opinion on the service charge demand liability? […]

Covid-19 rental advice given by University – Help?

14th April 2020

This is my first ever discussion starter – we are really desperate, don’t know what to do and hope the community here might be able to help. We specialise in student rental. Fixed term for one year, 4 students on one AST. No HMO. The University of Surrey decided to close early and cancel rent […]

12 out of 13 tenants asked for “Rent-Free Holiday”?

14th April 2020

I have 13 single tenancies (family homes) in Reading. All houses are rented to Eastern European families. All tenants except 1 (in total 12 tenancies) contacted me in last 2 weeks and refused to pay me. None of tenants in question appear to know each other. The reason given by all 12 tenants is: “The […]

Advice for Accidental Landlords – by Landlords Defence

14th April 2020

Landlords… If your property is being managed by your brother’s sister’s cousin’s sister-in-law, or your best-est friends’ brother-in-law then you face a 90% probability of massive problems in the form of: Unpaid rent Repairs not done Council inspections Council enforcement action Prosecution Massive Civil Financial penalties Rent Repayment orders Fitness for Human Habitation – no […]

How Shaf Rasul from BBC Dragons Den got started in property

12th April 2020

With the lockdown, Shaf has bit more time on his hands. This is giving him the opportunity to do a few more videos. So guys please take advantage of it. If you have any questions to do with business please leave a comment below. We will pass all these onto Shaf and he will try […]

Why we don’t apply a ‘one-size-fits-all’ approach to landlord tax planning

12th April 2020

Prior to introducing the Section 24 legislation “restricting finance cost relief for private landlords to the basic rate of tax” in his Summer 2015 Budget, the Chancellor at that time (George Osborne) commissioned the OBR (Office of Budget Responsibility) to produce an impact report. That report suggested that 19% of all private sector residential landlords […]

Dangerous fog of liability to full rent during Covid-19?

12th April 2020

I believe the guidance is clear regarding rental payments in relation to downturn. The case in Central London Property Trust v High Trees House [1947] KB 130 deals with this in issue which should be of great interest to all. If the tenant is still in situ then past consideration is not good consideration. In […]

Ex-council flat corroded pipes serving 14 floors leaking?

12th April 2020

I bought the ex-council flat for rental in 2006. Recently it was reported to us by the Lettings Agent that the copper pipe leading from the main stack into our flat is leaking. The stack is for all the blocks and there are 14 floors. On further investigation the copper pipe was completely corroded to […]

Happy New Tax Year!

10th April 2020

For those property rental business owners we have helped to restructure over recent months and years, they will know exactly what we mean when we say “Happy New Tax Year!” For others, those who have buried their heads in the sand or failed to seek advice and/or take action, this article is to serve as […]

CGT payment changed to 30 days this new tax year

10th April 2020

Property owners selling are reminded from 6 April 2020, if a UK resident sells a residential property in this country they will now only have 30 days to tell HMRC and pay any money owed. It means for some it can be done without having to register for Self Assessment. There are also changes for […]

NPN adapting and going online

10th April 2020

With lockdown in its third week, and the likelihood that it is being extended further we are going to have to adapt. A new world will emerge from this crisis, but are we all ready for it? I’ve recently recorded (it’s being edited) a YouTube video on “getting back to business – in the new […]

Free short term let accommodation for London’s NHS workers

9th April 2020

The UK Short Term Accommodation Association (STAA) is promoting a scheme to offer free accommodation to London’s NHS key workers. Together with a number of partners who usually operate in the short term let market, the scheme, called ‘NHS Homes’, will provide free accommodation and additional services to NHS staff to enable them to stay […]

Coronavirus help with credit cards, loans and overdrafts – FCA

9th April 2020

Following a short consultation the Financial Conduct Authority (FCA) will be going ahead with the proposals, which will give lenders the flexibility under to provide temporary financial relief to those facing payment difficulties during the coronavirus pandemic. The measures include firms being expected to: – Offer a temporary payment freeze on loans and credit cards […]

Lettings agents and COVID-19: How to survive the crisis Webinar

9th April 2020

Paul Shamplina Founder of Landlord Action, Brand Ambassador For Hamilton Fraser and Star of Channel 5’s ‘ Nightmare Tenants, Slum Landlords’, will provide practical guidance to help your lettings business survive the coronavirus crisis. Paul will be joined by Mike Morgan from HF Assist, and together they’ll provide pragmatic ways to help you through this […]

RICS calls for Stamp Duty holiday and it’s not a “Whim”

9th April 2020

As agents close their doors due to the lockdown, the spread of the virus across the UK has led to a near standstill of the housing market. The March 2020 RICS UK Residential Market Survey results highlight that despite the first few months of the year showing a marked pick-up in market activity, this month […]

Investor figure with gold percentage symbol representing mortgage interest rates

Time to take advantage of record low Interest Rates and remortgage

9th April 2020

During the last few weeks there has been a rush of borrowers taking advantage of all-time low residential interest rates. Due to the impact of Covid-19, the Bank of England has taken the unprecedented step of making two cuts to the base rate in quick succession. First there was an initial emergency cut to 0.25% […]