Landlords might think that rent is the only income generated by their property business – but they may need to tell the taxman about other money coming in as well.
Deposits from tenants are probably the main other income from tenants – and the rule is that these deposits always belong to the tenant.
Continue reading Don’t Forget Rent’s Not the Only Buy to Let Income
Thousands of property investors face fines of up to £50,000 for ignoring laws requiring them to sign-up to a landlords register in Scotland.
No-one is sure how many rogue landlords are ignoring the law – but the worry is they face a double whammy of tax and fines if they sign the register.
The authorities north of the border suspect many are not giving their details to council because they are concerned the information will also go to HM Revenue & Customs. Continue reading Landlords Snubbing Registration Face £50,000 Fines
“Respect seems to be like a boomerang in the sense that you must send it out before it will come back to you.”
I have been giving a lot of thought to the relationship between a landlord and his tenants. Many tenants have landlord stories and many landlords have tenant stories but sadly neither seem to want to tell stories in praise of the other. Why is this? Why is so there little mutual respect between many tenants and landlords? Why is there so little respect for landlords generally? Continue reading The Boomerang Effect for Landlords?
"Over 1,000 disputes in three months prompts AIIC to offer advice"
After another bad few months for landlords in tenant disputes, the AIIC have issued more tips to help landlords in adjudications.
According to The Deposit Protection Scheme’s findings, June 1st to August 19th saw over 1,000 disputes with 60% due to damage to property. Cleaning costs played a part in 40% of the disputes and redecorating in 31%. Many disputes cited more than one reason, cleaning costs incurred due to damage for example creating the skewed figures. Continue reading Disputes Still Favour Tenants According to DPS
Cheryl Cole topped a poll of ideal celebrity room-mates
If you’re thinking of your ideal celebrity tenant, would you think practically and pick a chef, handyman, cleaner or interior designer? Apparently not, Cheryl Cole topped the poll of 1000 tenants questioned by The DPS.
She took 8% of the votes helping Singers and Bands to take an overall 29% of the voting.
The closest celebrities to Cheryl Cole were Johnny Depp and David Beckham on 4% and 3% respectively with many more names dropped in from all corners of the celebrity world. Actors followed the Singers closely with a collective 28%. Even Robocop got a mention. Continue reading Cheryl Cole is the Nation’s top room-mate
New tenancy deposit protection laws on the way
Discussions to change tenant deposit protection rules for landlords are going on behind closed doors, according to information leaked by the Residential Landlords Association.
After a succession of court rulings rubbishing current tenant deposit rules, the government wants to tighten up the law. Continue reading New tenancy deposit protection laws on the way
The Association of Residential Letting Agents (ARLA) today issued top tips for landlords who are aiming to let their properties out on a short-term basis this summer.
Short-term lets can be a great way for landlords to fill rental voids or make use of vacant properties, and usually last anywhere between one week and one month. Continue reading Top tips on short-term letting this summer
Why the legislation was introduced-
According to the last Labour government, a significant number of landlords were abusing their position and holding on to deposit money that rightfully should have been returned to the tenant at the end of the tenancy. Continue reading Are the Tenancy Deposit Bodies Biased Toward Tenants?
Norfolk based residential property letting agents
AA-Lettings operate in Kings Lynn (PE30) and Norwich (NR), specialising in property management in the areas of South Wootton, North Wootton, Taverham, North Norwich and Norwich City Centre.
AA-Lettings has a huge list of quality tenants who are desperate to find quality rental property in the areas above.
SPECIAL OFFER – AA-Lettings pay £25 for any introduction to a landlord which results in us listing and letting a new property.
Advantages of dealing with AA-Lettings:-
- Only £49 Advertising costs for Advertising your property on Primelocation, Rightmove, FindaProperty, Fish4homes, and Zoopla!
- Free appraisal, valuation and advice on letting.
- Prepare details and forward to waiting tenants.
- Erect a To Let board and advertise the property on Primelocation, Rightmove, FindaProperty, Fish4homes, and Zoopla! (£49 charge)
- Identify appropiate tenants who would be interested in renting a property.
- Arrange tenants application form, credit checks and reference report.
- Prepare assured short hold tenancy agreement.
- Draw up and agree a detailed inventory, taking pictures.
- Negotiate and agree between all parties the details of the proposed let.
- Collect the deposit payable by the tenant against damages and register it with the tenancy deposit protection scheme. This can accrue a £30 charge.
- Pay to the landlord such rent within 5 days of receipt (less any relevant deductions where rents have been paid to the agents by cheque etc.) The landlord should wait until the money has been cleared into the agent’s account before any payments made.
- Notify the landlord of any maintenance problems which have been brought to our attention.
- Carry out any necessary maintenance work which does not exceed the amount agreed by the landlord.
- Prepare the relevant contract documentation.
- Notify service companies and council tax of the date tenants move in.
- Advertising fee £49
- £150 letting fee No V.A.T
- 8% commission pcm(minimum £50pcm) No V.A.T.
- 10% commission fee pcm for rent guarantee (minimum £60pcm)
AA-Lettings, the best Letting Agent in Norfolk, probably!
Contact: Adam Alexander Telephone: 0800 001 4450
Mobile: 07748 852989 email: email@example.com web-site: www.aa-lettings.co.uk
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Landlords and tenants locked in disputes over keeping rental deposits can take advice about negotiating a settlement from a new guide, jointly published by the three deposit protection agencies.
Continue reading New tenant deposit dispute guidelines for landlords