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1083 articlesSub-letting causing financial problems in the rental sector
The rental sector is still being caught out by unauthorised sub-letting by tenants, which can create financial headaches for those working within this sector. The Association of Independent Inventory Clerks (AIIC) has warned that unauthorised sub-letting is a significant problem in the United Kingdom, with damage to properties running into thousands of pounds for the […]
Ensuring that your tenants are not being held as slaves
Police are calling for help from letting agents and landlords in order to keep an eye out for anyone who may be being held as a ‘modern slave’ in the United Kingdom. There have recently been several high-profile cases of people from overseas being deprived of their passports and virtually held prisoner in a house […]
Landlords need to check tenants have the right to rent
Landlords will find even more pressure being placed on them from next month when they will be required to check the legal status of potential tenants – or risk a substantial fine. Landlords of private residential homes will have to carry out checks on everyone aged 18 or over who lives in the property as […]
ARLA and NAEA forecast 25 per cent rental increases by 2025
Action is needed to address a looming crisis in the housing sector, with property prices forecast to soar by a whopping 50 per cent and rental by 25 per cent by 2025. This scenario is being forecast in a report by the Association of Residential Letting Agents (ARLA) and National Association of Estate Agents (NAEA) […]
Counting the cost of court closures
Landlords are feeling frustrated in addition to being out of pocket as a result of delays in court hearings. Action on possession orders is being delayed by a lack of staff or by staff who are not adequately trained to deal with the paperwork, according to Landlord Action eviction specialists. The problem will only be […]
Moves are afoot in the crackdown on unscrupulous landlords
There may be plenty of talk about the lack of enforcement by local authorities but barely a day goes by at the moment when there isn’t a story about the prosecution of a rogue landlord on the pages of the local or national press. The case of Wirral landlord John Kieran was highlighted when magistrates […]
New safety checks law in Scotland: how are landlords managing the transition
Landlords in Scotland must now carry out electrical safety checks and carbon monoxide checks in their properties after a new law was passed. The legislation came into force on December 1st, requiring that landlords in Scotland ensure that carbon monoxide detectors are fitted in their properties. The detector can be mains-powered or may be fitted […]
Final countdown to new rules over tenants’ deposits
Property managers and letting agents have yet another piece of bureaucracy to deal with when the new tenancy deposit protection scheme comes into force in a few months’ time. On the face of it, this is a good scheme for anyone who looks after property either on their own behalf or on the behalf of […]
Could build-to-let be the next big thing for 2016?
With more young people being priced out of the property sector, particularly if they work in any of the major cities including London, and the South East of England, could this be the year in which even more investors put their money into the build-to-let sector? A Financial Times Report indicates that institutional investors could […]
Advantages of Employing an Inventory Clerk: A Reminder
As we head into 2016 we’re reminded of an industry that has been growing more rapidly since the introduction of tenancy deposit protection laws, the very catalyst that led to the launch of InventoryBase back in 2012. For property professionals, employing an inventory clerk to help with this essential administrative duty (detailed property inventory reports) can […]
Landlords predict a tough 2016 thanks to new laws
Landlords are bracing themselves for a tough year ahead, especially those involved in the buy-to-let market. There is the much-publicised hike in stamp duty for those investing in buy to lets, coupled with the scrapping of tax relief at the higher rates. And landlords may also find it more difficult to borrow money in the […]
Setting up a limited company could make good business sense for landlords
Landlords are facing a tough 2016 with a double blow to their finances. First, there is the 3 per cent hike in stamp duty on buy-to-let properties which will add thousands to the purchase price from April next year. Secondly, the tax relief on mortgage interest payments has been set at 20 per cent for […]
Taxing time to be a landlord in dealing with local authorities
Landlords in some local authority areas are facing a stealth tax as the bureaucrats seek to impose a licensing scheme in a bid to crack down on rogue landlords. Councils, quite rightly, have a duty to ensure that the law is upheld regarding the duties of landlords. They need to ensure that properties are safe […]
Taking a snapshot of your possessions as a landlord
As a landlord or letting agent, you will know how important it is to keep track of a property’s inventory. If the property is fully furnished, you will need a detailed record of each and every item. You will also want to record the condition of each item at check-in and check-out. By keeping an […]
How landlords can reduce rental property vulnerability this winter
The risk of damage to rental properties escalates in winter, particularly for homes that are empty, according to recent research by the Association of Independent Inventory Clerks (AIIC). Private rental sector landlords are encouraged to protect properties and conduct timely repairs on behalf of tenants. This should minimise the damaging effects of heavy rain, snow, […]
Government doesn’t let up in hitting landlords
The rental market has been dealt a blow by the Government which has just introduced a significant hike in stamp duty for rental properties and second homes. The Chancellor, George Osborne, has been accused of wanting to wipe out the buoyant buy to let market with the latest increase in stamp duty from April 2016. […]
Landlord Awareness: Heating Compliance Information Submission – 31 December Deadline
Landlords are reminded that they must ensure continued compliance with The Heat Network (Metering and Billing) Regulations 2014. The deadline for the second phase of regulatory implementation is imminent. Multi-let commercial and domestic property landlords (i.e. “heat suppliers”) who charge two or more tenants (i.e. final customers) directly or indirectly via the service charge in […]
New Tenancy Deposit Schemes for 2016
From April 2016, landlords in England and Wales will be required to choose between one of two new government-backed Tenancy Deposit Schemes (TDS) for all assured shorthold tenancy agreements. The Dispute Protection Service (DPS) will run the custodial scheme and MyDeposits will be responsible for the insurance scheme. How does the custodial scheme work? – […]
Demand for Rental Properties Rises
A new survey has shown that around 40 per cent of the country’s landlords have reported a rise in demand from tenants in their local areas over the last three months but a significant number are still planning to sell as a result of the government’s proposed tax changes. The survey from the National Landlords […]
InventoryBase launches 4th Generation Mobile/Tablet App for iOS and Android
We spent over a year building and perfecting the recent version 3 release of our App, using the latest cutting edge technologies and quickly saw how much of an improvement it was for our users. Having delivered tens of thousands of reports over peak season, we’re very proud of our team here for the collective effort getting […]
The New Ethical Lettings Charter: An End to Rental Nightmares?
The current nightmare on rental street is an unfortunate reality for many tenants today. Shelter, the UK housing and homelessness charity, estimates that more than 250,000 people – from students to single mothers, the sick and the elderly – are currently living in rented accommodation that is unfit for human habitation and/or comes complete with […]
An Ally or a Critic? ATT Speaks out on Tax Reforms
The Association of Taxation Technicians have bucked the trend of widespread criticism of proposed tax reforms for landlords, although with at least one reservation. Practically every lettings organisation in the country seems to have spoken out against Chancellor George Osborne’s bundle of tax changes set to affect landlords but, some say fairly predictable, the Association […]
The Question of Incorporation for Landlords
George Osborne’s summer budget resulted in major tax changes for landlords, leading many to consider the potential benefits of incorporating their business. Previously, property investors have been able to claim tax relief on mortgage interest repayments based on their top level of payable tax but this was cut in the budget, restricting claims to the […]
Spotlight on Local Authority Enforcement
Recent press coverage has not shown the private rented sector in a particularly good light with negative stories in almost all of the UK broadsheet newspapers. Both The Independent and The Guardian ran stories about the recently-released results of a survey from the Citizens’ Advice Bureau, which claims that around £5.6 billion of rent is […]
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