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:</
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
Commercial property is an important part of the UK economy, but the retail and office sectors as still suffering and rising interest rates present a real threat. A recent https://bpf.org.uk/media/6294/cl16688-01-bpf-economic-footprint-may23-v5-hi-res-single-pages.pdf" t
New minimum standards for rental properties and industry training are needed to improve quality and safety in the PRS, the government has been told.
A landlord who tried to charge a prospective tenant for having overnight guests has been ordered to repay the holding deposit.
James Kent, the NRLA’s Chief Innovation Officer, and founder of digital compliance platform Safe2, explains why landlords need to know where they stand sooner rather than later.
Home REIT, the investment trust marketed as the dream scheme to house the homeless is folding with extensive debts and legal claims.
A landlord has failed in a last-ditch attempt to convince a property tribunal that he shouldn’t have to pay a rent repayment order – and has been stung with a £13,643 bill.
Almost half of private renters in England are living in cold, damp or mouldy homes, even during the summer, according to a new Citizens Advice poll.
The mortgage industry says the number of new buy-to-let mortgages more than halved last year, with higher interest rates blamed for the fall.
Liverpool Council has teamed up with the emergency services and HMRC to share intelligence and weed out 'non-compliant' landlords.
A new poster campaign on the London Underground is urging travellers to report dodgy landlords.
The number of buy-to-let properties bought by landlords as a percentage of all homes sales across the nation has sunk to its lowest level since records began.
The South Coast seaside resort ofEastbourne is to crack down on the town’s growing number of HMOs andcouncillors are soon to make a decision on what to do.
Labour’s rental reforms, has Labour's Rental Charter have they been watered down in the King's speech?
Landlords in the London borough face paying an extra £174 for an additional HMO licence if plans get the green light.
The Welsh government has been warned it risks reducing the supply of student accommodation if changes to tax reliefs are introduced.
Fewer than 17,500 purpose-built student beds are expected to be added in the coming academic year, representing only 0.6% growth.
The new Labour government won’t wait to improve the court system before abolishing Section 21, predicts a top property lawyer.
Nearly 200,000 private renters haven’t had their deposits protected under an authorised scheme, according to new government data.
Property experts have warned that Labour’s promise to finish the job of ending the “feudal” leasehold system could complicate leaseholders’ situation.
A major high street lender has changed the terms and conditions of its mortgages to enable landlords to rent their properties out on short-term and holiday let sites such as Airbnb and Booking.com during void periods.
A Midlands council is on an unusual mission to get more students living in purpose-built student accommodation (PBSA) instead of traditional HMOs.
This morning’s King’s Speech to a packed House of Lords has revealed Labour’s radical plans for landlords, letting agents and tenants.
Keen thirty-something investors have helped to lower the average age of private landlords by four years over the last decade.
The number of former rental properties currently for sale has risen dramatically as more landlords exit the market or downsize.
Official figures show inflation has held steady at 2% over the past 12 months but the detailed briefing from the Office of National Statistics also reveals that property costs remain at historically high levels.
Tom Entwistle looks at the likely changes ahead of this week’s King’s speech - this should reveal a bit more detail and the general direction of travel by Labour
