Dear Property 118ters, I would appreciate your advice on a property purchase deal. The property is currently set up as 5 bedroom family house in greater London and is feasible to convert into 6 bed HMO. The house is not HMO compliant at present and will fire safety installation to make it compliance followed by […]

Section 24 campaigner David Heard has revealed the locations for the erection of 10 further billboards which will cost just £3,600 ‘all in’. This figure includes printing, pasting, VAT and rental of advertising space for two weeks. A copy of the invoice can be viewed via this link. The image at the top of this article shows the slightly […]

Hi all, I’m new to this website and I have a question. What is the formula you use for return on investment/return on capital employed/rental yield? Would you mind sharing? I just need a couple of baseline formulas to get me started. Many thanks to you all, great website. I have searched and found an […]

The resolution body have announced several measures. One of these is to give every 25 year old 10,000. This means that a couple of 25 year olds will have 20,000 towards a deposit on a house. Wonderful, this means that FTB houses just went up by 20,000 each! It is not vendors who raise prices, […]

Meet the founders of the National Landlord Investment Show – Q&A with Tracey and Steve Hanbury As the National Landlord Investment Show prepares to celebrate its fifth anniversary at Aston Villa Football Club on Wednesday May 16th, it’s time to meet the people behind the shows to find out what makes them tick. The Midlands […]

A third of British landlords could be forced to sell due to problem tenants, with unpaid rent and damage running into thousands of pounds cited as the main problems. Nearly half 47% of landlords have had issues with tenants who don’t pay the rent on time, according to a new survey commissioned by online letting […]

The Just Giving billboard campaign highlighting “Section 24 Tax Reforms” has now raised over £4,000 🙂 We think a lot more is likely to be raised once people see pictures and newspaper reports of further billboards going up in Cities such as London, Birmingham, Manchester, Leeds, Newcastle etc. and we are all mega excited for that to […]

We were recently approached by a landlord of a four bedroom HMO property whose Local Authority had contacted her to remind of the approaching restrictions on minimum room sizes. One of this landlords bedrooms was slightly below the 6.51 sq metre limitation, which becomes effective from 1st October under  ‘ The Licensing of Homes in Multiple Occupation […]

Government press release on the action to end letting fees. New Housing Secretary Rt Hon James Brokenshire MP said: “This government is determined to build a housing market fit for the future. Tenants across the country should not be stung by unexpected costs. “That’s why we’re delivering our promise to ban letting fees, alongside other […]

Scottish Government consultation on minimum energy standards, proposing minimum C Rating for both PRS and owner-occupier sectors, and minimum B Rating for those classified as fuel poor. Cost efficiency is being deemed as payback over a lifetime, however that may be interpreted! Closing date for comments is 27 Jul 2018. Click Here to view the […]

I don’t think I need to be concerned about GDPR, here’s why. I live overseas and whilst my property rental business in the UK is a substantial one, I keep no records either written or electronically in regards to any of my tenants. The day to day liaison with tenants is all dealt with via […]

The billboard that Property118 member David Heard paid for out of his own pocket, out of pure frustration, has caused quite a stir here on Property118 and also on Social Media (Facebook in particular). Several members have suggested we start a Fundraiser to pay for more of these, which David and I think is a […]

Karen Buck, Member of Parliament for Westminster North, is to deliver the keynote speech at the Chartered Institute of Environmental Health’s (CIEH) housing conference on the 9th May, where she will discuss her Private Member’s Bill on landlords and the private rented sector. Having received cross-party support, Ms Buck’s bill seeks to update the law […]

The good news is the government have finally announced that it will be a requirement for all property agents to belong to an approved Client Money Protection (CMP) scheme as of the 1st April 2019. CMP is an insurance product that protects the rental money tenants pay their letting agents to pass onto their landlords […]

GDPR is something that WILL affect almost every landlord in the UK. The new legislation comes into effect on 25th May 2018, by which time all landlords (and other businesses) will have to have registered with the ICO and have a GDPR Data Protection Policy. We have spent the past couple of months preparing for […]

Dear all, we currently have a tax return self assessment problem here. My husband and I bought a house in tenants in common which he is holding 1% and I am holding 99%. We are not quite sure what documents we need to submit when doing our self-tax assessment. 1. Do we have to submit […]

I hope you may be able to shed some light onto the following situation please. A family Discretionary Trust owns a house among its assets.  There are three Trustees and one of them lives in the house as their Principal Private Residence, rent free, and is also a Beneficiary of the Trust.  As that person […]

It has now been announced that the Tenants’ Fees Bill is now formally starting its progress through Parliament and is due to be implement in Spring 2019. An impact assessment of this ban on charging tenants fees has estimated it will cost letting agents between £77 and £274 million in the first year and lead […]

Ex-social worker and professional landlord of 30 years, Leslie-Ann Franklin, is facing having to sell the rental property she lives next door to in March, Cambridgeshire, after a complex case involving an extreme hoarder has left her in financial ruin.  With her story due to be aired on this week’s ‘Bad Tenants Rogue Landlords’ (Thursday […]

Axe The Tenant Tax was a campaign set up by landlords Chris Cooper and Steve Bolton. The main purpose of the campaign was to raise awareness of a new form of taxing businesses, but applied only to individual landlords. “Axe The Tenant Tax” group also raised funds for a Judicial Review of the tax reforms […]

Dear Chancellor, Thank you for your email asking for my support in the local government elections. Unfortunately having been a Conservative Party voter for 40 years I can no longer support it. Either locally or nationally. I can’t bring myself to vote Labour either. In fact I feel quite marginalised as a voter these days. […]