Question: How long should accounts be kept to satisfy the authorities, things like accounting files, invoices and tax records, as a property landlord?Answer: You must keep your records for 6 years after the tax year to which they apply, whether or not you complete a tax return.It's a good idea, a
Expiry of Section 21 Notice - I have served a Section 21 (s21) Notice on my tenant but don't wish to start proceedings immediately. Can I wait without the notice expiring?Once a Section 21 notice has been served correctly it continues indefinitely, until such time as the tenancy is ended, either
Covenant and Covenant Strength - What is a legal covenant and what is the significance of the terms in relation to rental property and lettings ?</h2>The term covenant can have several meanings and has biblical origins but it is of particulalry significance
2 years ago I purchased a company with a 10 year lease from my ex boss, on a 10 year lease, the lease was set up by a solicitor. After 2 years the business is struggling and is not viable. I feel that my solicitor ill advised me as there was no break clause mentioned. Where do I stand on t
Good Left in the Premises or Uncollected GoodsFrequently, tenants leave goods after their tenancy has concluded or when they have abandon the premises during a tenancy. Uncollected goods and possessions left or abandoned in premises by tenants can pose a real problem for landlords.
<h1 Standing Order</h1>What are Bankers' Standing Orders?</h3><ul <li Standing Orders allow landlords to automate the process of collecting rents</li> <li They safeguard tenants in that the landlord cannot change the payment amount, as is the case with direct debit
The Possession Procedure - 1988 Housing ActThe possession procedure under Section 8 of the Housing Acts 1988 & 1996 is known as the Section 8 Route and is available to landlords where the tenant is in breach of one or more terms of
Renting or Leasing Commercial Property Renting commercial property usually represents a major part of the operating costs involved in running any business. If you include surveyor's and solicitor's fees, rent, business rates, insurance,
Types of Tenure: A tenancy gives the tenant a legal interest in the land and property - in effect, legal ownership for the period of the tenancy. Tenancies can take several forms: <ul <li Rent Act or Regulated Tenancies - pre </li> <li
<h1 Joint or Single Shared Tenancies</h1>Shared House (Joint Tenants) or Individual Rooms (Single Tenants)? Where a landlord lets to multiple and usually unrelated tenants there are two main ways of doing this:(1) As a Joint Tenancyng
These are tenancies that fall outside the scope of the Housing Acts (1988, 1996, 2004), including the Regulated Tenancies, Assured Tenancies (AT) and Assured Shorthold Tenancies ASTs.In the case of a common law residential tenancy , the tenant's rights and obligations are ma
What are Business Tenancies ?A tenancy is an "estate in land", granted for a determined period of time (term of years or fixed term - 6 months,1 year, 21 years, 99 years etc) or a specific period (a periodic tenancy - yearly, monthly, weekly, even daily).In return for the "time lim
Landlord's Duty to Ensure Installations are SafeAll Landlords have a common law duty to ensure that gas installations and appliances supplied with their properties are safe. Tenants also have certain legal obligations when it comes to gas safety - see below.I
Landlords' Gas and Electrical Safety Certificates:As a landlord, or as a letting agent acting on the landlord's behalf, you have a legal obligation to ensure that your accommodation is completely safe for your tenants.Several statutory regulations and general common law requirement
Letting and residential property fully furnished, part-furnished or unfurnished in England & Wales no longer has any implications regarding security of tenure for the tenant or for taxation. However, Council Tax and the 10% Depreciation Allowance may be affected - you don't pay Council Tax du
What was the Fire Certificate is no longer required as it was previously under the Fire Precautions Act 1971 for hotels, boarding houses, factories, offices, shops and railway premises. All these premises must comply with Fire Regulations, now covered by t
Ending a residential tenancy on the ground of "false statement by the tenant "The Housing Act 1988 as amended by the Housing Act 1996 makes provision for the possession of residential properties let under Assured and Assured Shorthold Tenancies.However
Running a Successful Bed & Breakfast Guest HouseRunning a successful Bed & Breakfast Business from the comfort of your own home has many advantages and rewards as far as being self employed is concerned:</
The UKs co-living sector has trebled since 2019 as the formerly London-centric concept catches on around the country. Popular with recent graduates and young professionals, co-living - which technically is often classsed as HMO - is a form of purpose-built rental housing gene
Reinstating mortgage interest relief for landlords would solve the nations ongoing rental property supply crisis and raise �400 million for the nations coffers, it has been revealed. Analysis by Capital Economics on behalf of the National Residential Landlords Association
Lease disputes are time consuming, costly and most can be avoided when leases are well drafted in the first place. This article addresses a case where the landlord failed to ensure that the lease was properly drafted. The lease gives a tenant the right to use the property for it
A legal charity still hopes to challenge the government over its Right to Rent policy despite failing to convince European judges that it increases racial discrimination in the rental market. Under the scheme, landlords have to check the immigration status of prospective tenants
Scores of housing groups and legal centres have called for ministers to abandon plans to remove licensing requirements for HMOs used as asylum accommodation. In anhttps://www.jcwi.org.uk/safe-homes-for-all" target="_blank" open letter t
The number of landlords selling up has hit record levels, leading property buying firm National Residential has reported. The company says this has been prompted to a significant degree by the long-standing uncertainty within the private rented sector created by the Government
Despite the fall in inflation, The Guardian is reporting https://www.theguardian.com/business/2023/may/24/uk-inflation-falls-cost-of-living-crisis" the financial markets are betting on an interest rate rises to 4.75% in June and 5.4% by the end of the year , the Office fo
A Conservative MP has called for tenants to be offered affordable homes in tourist hot spots if they can prove theyre local. During a Commons debate on short-term holiday lets, East Devon MP Simon Jupp (pictured) suggested that councils could be allowed
The NRLA says Government measures to abolish Assured Shorthold Tenancies (ASTs) will decimate the student housing sector if they go ahead unchanged. Featured within the Renters (Reform) Bill, this will see ASTs replaced with more flexible open-ended periodic tenancies
The Property Redress Scheme's (PRS) advisory panel has chosen experts from across the sector to join its new member panel. The UKs largest lettings redress scheme, covering more than 13,250 letting agency branches, launched the panels as new, open, and transparent forums to b
MPs have voted against an amendment to prevent a tax cut from applying to buyers of second and additional homes. During a debate on the Stamp Duty Land Tax (Reduction) Bill, Opposition Treasury Secretary Abena Oppong-Asare said that a clause which increases the threshold for peo
According to a new report just out by the Resolution Foundation (RF), UK households face a torrid time in the coming months in what is going to be the worst cost-of-living crisis in living memory. Its the aftermath of a Covid pandemic that involved massive Government borrowin
https://www.landlordzone.co.uk/news/judge-slams-arrogant-landlord-after-illegal-eviction-of-tenant-during-covid/" Rent Repayment Order (RRO) applications dropped significantly last year as tenants were put off by more restrictive Upper Tribunal and Court of Appeal decisio
Housing groups across Greater https://www.landlordzone.co.uk/news/latest-manchester-landlords-given-last-chance-to-comment-on-licensing-expansion/" Manchester have urged MPs and local policymakers to step in and protect tenants from eviction, warning that the system is no
Commercial capital property values fell 13% last year as rising interest rates impacted the sector, with industrial units taking the biggest hit. https://www.cbre.co.uk/" CBRE s monthly figures show values down 3% in December and annual total returns down by
Private renters are facing an increase in housing costs, with rental price growth at its highest rate in the UK since records began in 2016. About a quarter (26%) of all renters (both private and social) surveyed between 7th and 18th December reported that their rent payments ha
As landlords, we all know there is a wealth of legislation that we need to wrap our heads around to maintain compliance throughout the lifespan of a tenancy. Gas safety, energy efficiency, electrical safety, legionella risk assessments, insurances, prohibited payments, How to Rent, Right to
New laws will make it easier for broadband companies to gain access to thousands of https://www.landlordzone.co.uk/news/latest-mps-gives-tenants-new-rights-to-have-high-speed-broadband-kit-installed-in-blocks/" blocks of flats across England and Wales. The Tel
Landlords are being encouraged to donate the addresses of their vacant properties as part of a unique bid to stem homelessness. Dreamt up by architect Chris Hildrey, https://www.proxyaddress.co.uk/" ProxyAddress allows people to securely borrow a stable, donat
Average house prices fell by -1.5% in December, while the annual growth rate dropped from +4.6% to +2.0%, according to the Halifax House Price Index. A typical property now costs �281,272 - down from �285,425 in November following six months of rapid growth during the firs
Propertymark has voiced fears that the governments ECO plus scheme risks excluding many landlords with low-rated properties. In its response to the Department for Business, Energy and Industrial Strategys consultation into the scheme to help fund home insulation, the indus
Cherwell District Council has pressed the government to urgently introduce the long-awaited Renters Reform Bill to help it rebalance the relationship between landlords and tenants. The north Oxfordshire authority has written to Housing Secretary Michael Gove asking him to bring
All non-domestic properties usually have their business property Rateable Value (RV) revalued every five years by the Valuation Office Agency. The next revaluation is due to take place on 1 April 2023. What is Rateable Value? The value is determined by the Valuation
The average cost of rent fell slightly during December, dropping 1.47% to �1,071, according to the latest Rental Index from https://www.goodlord.co/" Goodlord .<br><br>The South West saw the largest reduction of 2.68% to �1,066 while the only region to see an increase wa
Landlords should think carefully before attempting to remove good tenants who resist rent increases, advises https://www.landlordaction.co.uk/ Landlord Action founder Paul Shamplina - or risk replacing them with tenants who stop paying rent. If you have a
A letting agency boss has been hit with an 11-year ban after repeatedly abusing the https://www.landlordzone.co.uk/news/landlords-who-took-out-bounce-back-loans-given-six-month-breathing-space/" Bounce Back Loan scheme. Laszlo Szabo, the sole director of Letti
Almost two-thirds of landlords (62%) will be forced to raise rents by at least 10% in the next 12 months if market conditions dont improve. Research by Aldermore Bank found that despite this, landlords feel conflicted about passing on costs in an alread
Legal & General Capital helped fund more than 17,000 new homes across affordable housing, suburban build-to-rent (BTR), modular housing, traditional build-to-sell, and key worker homes last year. The insurance group invested �5 billion towards levelling up the UKs towns
If you havent heard of it before, the Renters' Reform Bill is set to be voted on before May 2023, bringing with it a plethora of proposed changes for landlords and tenants alike. Shelter , who along with other organisations are cam
Long-term HMO landlords in Portsmouth risk losing their C3/C4 status with no chance of getting it back due to confusion over planning rules, it is claimed. Many took advantage of the option to switch between family use (C3) and HMO (C4) without needing planning permission in 201
The rental sector is likely to see some of the biggest changes since the 1980s, so do your homework and keep yourself up-to-date. All the signs are that operating as a residential landlord in 2023 will be just as challenging as it was last year, if not more so here are my to
Leading property sector figure Kate Faulkner has been given an OBE in the New Years Honours List. Faulkners honour is for her involvement with landlords, estate agents and consumers including her work leading the property industry Home Buying and Selling Grou
The worst fears of a commercial landlord are realised when the flow on quarterly or monthly rent payments starts to dry up! Read on to find out what to do if you're faced with this. According to the latest available Office of National Statistics (ONS) figures, the number of comp
The NRLA has backed the growing number of student landlords 'panicked' by the Governments plans to bring in periodic or open ended tenancies across the private rental sector. Concern is widespread within the student community, new research reveals, with 84% saying they
