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Resident landlords can also earn up to £7,500 per year tax-free under the Rent a Room Scheme (figures correct as of Jan ’19). If you rent part of a property which is your only or main home you are considered a resident landlord, and are eligible for Rent a Room relief. There are certain rules,… Continue Reading
Category Archives: News
Security deposit cap reduced to five weeks rent
Private renters are set to benefit from new measures reducing the amount tenants have to pay up front to secure a home from 6 weeks’ rent to 5 for annual rentals of under £50,000. The move, announced as part of the Tenant Fees Bill, is a further step by Communities Secretary James Brokenshire MP towards ending… Continue Reading
Health and Safety Rules for Rented Homes to be Tightened
Landlords in England face a stricter health and safety regime as the government announces an overhaul of out-of-date rules. The review will look at updating the Housing Health and Safety Rating System (HHSRS) rules for residential dwellings and tightening the law demanding landlords install carbon monoxide alarms in rented homes with gas appliances (not just with solid… Continue Reading
Tenant fees ban looks set to become law earlier than expected
A date for the final debate on the tenant fees ban has been announced by the government, suggesting that the legislation may become law earlier than expected. Next week on Tuesday, 20th November, peers will have a final opportunity to debate the bill at Committee stage following a first sitting earlier this month in the… Continue Reading
Rents set to rise over next five years according to Savills
According to a forecast by Savills, rents are predicted to grow 13.7 per cent in the next five years. Alongside a fairly bleak prediction for the sales market between 2019 and the end of 2023, Savills says the rental market will continue to see strong demand, not least because of ongoing difficulties for buyers to… Continue Reading
Landlord Insurance – A Guide
Landlord insurance is a crucial consideration for anyone renting out their property. Things can go wrong with even the most diligent tenants and can cost a significant sum to put right. ‘Landlord insurance’ is a broad term, and cover will vary from policy to policy. Key points: Standard home insurance is NOT suitable for landlords… Continue Reading
New “Housing Court” proposed by ministers
Ministers have unveiled plans for a specialist “housing court”, with the aim of speeding up the settlement of property disputes between landlords and tenants. The designated court, according to the government, will be “particularly important” for families and vulnerable tenants “who live with the fear of suddenly being forced to move”. The communities secretary, James Brokenshire,… Continue Reading
Landlord’s to pay for EPC improvements, with the “no cost” exemption to be removed
Landlords will have to fund some of the changes needed to make their rental properties compliant with minimum energy efficiency requirements. The Government is to introduce the payment requirement, capped at £3,500. This replaces the current “no cost” exemption which allowed landlords to avoid implementing energy efficiency measures if there is no funding available to… Continue Reading
Budget 2018 – What does it mean for landlords?
Monday’s budget wasn’t horrendous for landlords, but wasn’t particularly helpful either, particularly for landlords looking to sell. The most major change effects the capital gains tax relief that is available to buy to let landlords when they sell a property that has previous been their primary residence. Principle Residence Relief Currently, a landlord can add… Continue Reading
Government Looks to Regulate the Property Industry
The Housing Minister, Heather Wheeler, has announced that a new working group will be set up to raise standards across the housing sector. Whilst the industry seems to be getting hit left, right and centre at the moment with changing legislation, this is something all good letting agents can whole hardheartedly support. The group will… Continue Reading