A leading landlord insurer is warning landlords to beware of tenants sub-letting their properties over the holidays. Since most shorthold tenancy agreements specifically exclude sub-letting without the landlord’s written consent, landlords could end up in breach of their mortgage terms and conditions, as well as uninsured if there is any damage to the property.
With the January self-assessment tax deadline fast approaching, HMRC is providing online tutorials for landlords who need to brush up on their tax knowledge. The tutorials are designed to help landlords work out how much tax they owe on any properties they own.
Managing a property rental portfolio is tough enough in the present climate without having a host of administrative issues keeping you awake at night. A property management software package can help make your life easier, by streamlining the administrative burden of running your portfolio, and by ensuring you don’t forget to do anything important – […]
A recent report from buy to let lender, Kent Reliant, has revealed that many landlords are restructuring their property portfolios in a bid to beat government tax changes. Some landlords have converted their businesses into limited companies, whereas others are raising rents or transferring ownership of properties to relatives.
The Rent Smart Wales scheme is now law, but although 89k accounts were created and 64k licence registrations submitted by landlords, a further 13k licence applications were never completed, which suggests quite a few landlords are operating without the necessary licence.
A landlord who illegally converted a three-bedroom house into two self-contained flats has been ordered by the courts to pay back the £140k in rent she earned from letting the flats. If she fails to repay the money within three months, she will be sent to jail for up to a year.
The Autumn Statement revealed that the government is planning on banning letting agents from charging fees to tenants. If you use a letting agent to manage your rental properties, you might be concerned about this development.
The RLA recently won a very important court battle over whether a landlord has to pay council tax if the tenant moves out but the tenancy has not formally ended.
Taking out a mortgage is a common way to build a property portfolio, but landlords are coming under increasing pressure from the Bank of England, which is making buy to let mortgages more difficult to come by.
Yesterday’s Autumn Statement has caused a storm in the private rental sector after Phillip Hammond announced a ban on tenant fees. Landlords are now concerned that letting agents will charge them more to cover the loss in revenue from tenants.
The UK’s biggest buy to let mortgage lender has become the first to place lending restrictions on landlords in higher tax brackets. Currently, landlords borrowing money from Birmingham Midshires are expected to charge rents equal to 125% of their monthly mortgage repayments.
From last week, benefits will be capped at £20k a year. An estimated 100,000 households will be affected by a cut in their housing benefits, the majority of them in London. Experts fear that many tenants living in the private sector could face losing their homes because they can’t afford the rent.
Londoners are still struggling to get on the property ladder. New research from a crowdfunding platform claims it will take, on average, 121 years for someone earning around £34k a year to be able to save up enough deposit to buy an average flat in the capital.
HMRC figures reveal that 25% of all properties bought this summer were buy to let investments or second homes. This indicates that government tax changes, which were designed to curb the buy to let market, haven’t worked as well as the government had hoped they might.
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