FREE tenancy agreement
FREE landlord software
Do you fancy increasing your property portfolio before Christmas?
This could be one of your last opportunities to add to your property portfolio this year. If you fancy picking up a property have a look at the new auction catalogue from Allsop which has been just released.
London property may be overpriced but there are still some bargains at the property auctions in the regions if you play your cards right and do your research.
Finance my investment - BTL mortgage search tool
Tuesday, December 02, 2014
Monday, December 01, 2014
Midland landlords join border control
West Midland landlords are the first to don boots, pull on their uniforms and begin work on the frontline of UK border control.
"Can I see your papers?"
From today landlords renting out properties in Birmingham, Walsall, Sandwell, Dudley and Wolverhampton areas will be required to check the passports of any new tenants to make sure they are not illegal immigrants.
Any passports / documents need to be photocopied by the landlord and kept as record of the checks.
In those cases where a prospective tenant cannot produce a passport, a landlord will be required to make further checks using the gov.uk websites 'Right to rent' tool. (good luck with that)
Failure by a landlord to follow the proper checks could result in prosecution and a maximum £3000 fine.
The requirement is expected to be rolled out across the entire country during 2015.
The requirement is expected to be rolled out across the entire country during 2015.
Pensioners face heavy taxation on BTL investment
With the new pension annuity reforms coming into place in April 2015 many pensioners are considering dragging out a big chunk of their pension annuity to invest in BTL property.
Be warned, the tax implications might out weigh the returns. Overtime, five different forms of taxation will potentially be applied to the property investment.
- Income tax when the amount is withdrawn.
- Stamp duty on buying the BTL property.
- Income tax on the rents paid.
- Capital gains tax if sold.
- Inheritance tax on the asset.
Read the article on tax implication of withdrawing cash from annuity to invest in BTL property
Landlord Action reflect on ‘Revenge Eviction’ Bill defeat
Following Friday's defeat of MP Sarah Teather's Tenancies Reform Bill, Paul Shamplina, founder of Landlord Action commented,
“This is great news for landlords. Whilst I fully agree that tenants need to be protected from the small minority of rogue landlords, there simply wasn’t enough evidence to support the need for more legislation, which would have impacted a large number of good, reliable landlords.
In the 24 years I have been dealing with problem tenants, I have only ever heard of the words 'retaliation/revenge eviction' in the last 18 months. Section 21 gives a landlord an automatic right of possession without having to give any grounds (reason) once the fixed term has expired. Shelter’s figures that 213,000 tenants have been served Section 21 notices as revenge evictions must be guess work because without surveying every landlord, it is hard to understand how they have reached this figure.”
“Passing this Bill would have created a loophole for tenants to remain in properties for longer, lead to further rental arrears problems, stretched the resources of local authorities even further and lead to longer delays at court. Yes, we want to make sure tenants live in a safe and pleasant environment, but preventing the proper use of Section 21 is not the way to do this and would simply tarnish good landlords with a bad name.”
In the 24 years I have been dealing with problem tenants, I have only ever heard of the words 'retaliation/revenge eviction' in the last 18 months. Section 21 gives a landlord an automatic right of possession without having to give any grounds (reason) once the fixed term has expired. Shelter’s figures that 213,000 tenants have been served Section 21 notices as revenge evictions must be guess work because without surveying every landlord, it is hard to understand how they have reached this figure.”
“Passing this Bill would have created a loophole for tenants to remain in properties for longer, lead to further rental arrears problems, stretched the resources of local authorities even further and lead to longer delays at court. Yes, we want to make sure tenants live in a safe and pleasant environment, but preventing the proper use of Section 21 is not the way to do this and would simply tarnish good landlords with a bad name.”
Land registry October price data released
The Land Registry has released data on sold property prices for 2014.
Their data for October 2014 shows the average house price in England & Wales is now at £177,377. The peak was back in November 2007 at £181,269
Their data for October 2014 shows the average house price in England & Wales is now at £177,377. The peak was back in November 2007 at £181,269
London remains the best performing region, with annual growth of 18.6 %, compared with the worst performing region, Wales with just 2.0 % growth.
View the full Land Registry House Price Data for October 2014
Take advantage of our discounted landlord insurance rates
View the full Land Registry House Price Data for October 2014
Take advantage of our discounted landlord insurance rates
Subscribe to:
Posts (Atom)
Posts
