I have a Buy to Let flat which is part of a complex which is currently let to two international students. However the residents association seems to have taken against students being able to rent these flats and is quoting the below clause in the lease: – “Not to use the Demised Premises or permit […]

You can now buy top level Rent Guarantee Insurance through Property 118, offering high level cover with no excess at all. Click Here Rent Guarantee Insurance protects landlords from tenants defaulting on rent payments. It takes over and pays the rent when the tenant fails to do so. Benefits Up to £6250 rent covered per […]

Did you know that HMRC’s internal manuals relating to Landlord Incorporation are published online and can be viewed by the general public? Below I have published links to these manuals, which can be very insightful for both landlords and their accountants, but they are no replacement for the Consultancy Services provided by Property118 Limited. This […]

This time last week we unveiled a fresh Property118 website design and new functionality to improve Navigation, searching and the general user experience. One of the new features we have added is a ‘hover-over’ function which appears when your mouse cursor is placed over a members name or Avatar. The date of when the member joined […]

If there is one thing that Grenfell Tower has taught us it is that it often takes a catastrophic event for people’s serious concerns to be listened to; before the Grenfell fire, the tenants’ were forced to dice with death on a daily basis while their reports of the danger they were in went unheeded by […]

July 2017 has seen Property118 Limited help more landlords using the Beneficial Interest Company Transfer “BICT” incorporation structure to obtain HMRC non-statutory clearance for relief under s162 TCGA 1992 than ever before. Non-statutory clearance for using the BICT incorporation structure provides ‘peace-of-mind’ to landlords who want to be certain of being able to roll capital gains […]

A Rent-to-Rent operator called Arthur Zurvskij has been found guilty by Willesden Magistrates Court of illegally sub-letting a five bedroom house to seven tenants. The owner of the property, who lived in the United States and had legally handed over control of his property to Ludlow Thompson, believed that the property was being rented out […]

If you are hoping to incorporate your rental property portfolio you will probably want to be certain that you can roll capital gains in your properties into shares in the company you are incorporating into. To achieve this you will need to qualify for relief under s162 TCGA 1992. The main qualifying criteria for this […]

We have rented out our apartment for just over a year now, the tenants have been an absolute nightmare and we have spent a small fortune on redecorating, installing fans, plastering walls etc etc, so we have decided to serve the tenants notice. We have instructed a new agency as we feel the old agent’s […]

I have owned a first floor flat in an Aberdeen tenement building for 10 years with no problems but this year we had two leaks within a week both affecting the two properties below ours and the communal areas. The first leak was caused by the washing machine and the second by a tap left […]

I’ve searched all the threads and can’t seem to find an answer regarding cars? I am a Landlord paying tax by self assessment and I am about to buy or lease a new car. I have set up a new company and according to HMRC I can pay myself 15% of total rental income as […]

Over the years, Landlord Action has been instructed to take on several cases following the malpractice of other eviction firms. With repossessions for landlords now taking on average 43 weeks*, Landlord Action says landlords simply cannot afford to restart the process due to compliance errors. It is calling for unregulated eviction companies to become part […]

I need some advice about damage which resulted in loss of rent. I own a block of three non purpose built unfurnished flats which all have the same rent. In February during a particularly bad storm the middle flat, which is in a wing of the property had a leak on the roof and water […]

My Freehold landlord had several thousand pounds worth of work done on the building without any consultation with us. In fact we have NO idea any work was being done until we received a bill for thousands. We disputed the invoice and looked up advice online which said that the legal amount (under section 20 […]

Hi Guys, I am an overseas landlord. I used the services of a letting agent to fully manage my properties, and they were just awful! Needless to say I have now left them and found another agent. I went to the Ombudsman to complain (Ombudsman Services – Property) of which the letting agent are a […]

Hi all, we are in process of buying 2 semi-detached house (adjacent ones) from a buyer in a single deal of £1.5M (£750K x2). Our Solicitors have advised us that this will be treated as a linked transaction for SDLT and band rate of SDLT will apply on total consideration of £1.5M. We will appreciate […]

We redesigned the Property118 website to improve Navigation, searching and the general user experience and went live last Friday. Inevitably there will be a few Gremlins to deal with and we would really appreciate you help in terms of pointing these out to us. Please leave comments below and rest assured that we take all user […]

The UK’s longest running provider of tenancy deposit schemes, TDS, today launches its Code of Recommended Practice for deposit protection, continuing its on-going remit of improving standards in the private rented sector. The code (which builds on existing guidance to members) outlines the standards it expects of its members and covers: protecting deposits and serving […]

UK Finance which incorporates the old Council of Mortage Lenders (CML) has released estimated June gross mortgage lending figures showing £22.1 billion of borrowing up 9% on May figures of £20.3 billion. This is however, only an increase of 3% on the figures in June of last year which were £21.5 billion. Gross mortgage lending […]

The impact of recent changes to the way buy-to-let properties are taxed could create the next pension crisis as individuals are becoming over-reliant on property to fund their retirement years, says the leading landlord body in the UK. 77% of landlords, approximately 1.8 million, say they are reliant on their residential property investment for their […]

The Financial Conduct Authority (FCA) have estimated that 600,000 home owners will have their interest only mortgages come to the end of their term requiring repayment before 2020 and that nearly half will have a shortfall and approximately one third will have to find £50,000 or more to repay this shortfall. Therefore, many customers, especially […]