INVESTMENT
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Guidance for landlords on Electrical Safety
The safety of tenants is of paramount importance to landlords in the private rental sector, and rightly so. One of the areas that has been improved immeasurably over the years is electrical safety, and now new guidelines have been published to provide greater awareness and education to landlords.
Costs landlords can offset against their tax
Landlords are able deduct the costs of running and maintaining their property, ultimately lowering their tax bill.
Common deductible expenses include any repair or maintenance tasks, covering everything from minor repairs to any like-for-like replacement, i.e. the new item must be similar or identical in terms of function, type and quality.
The EICR Rules for Landlords in England
Conducting an Electrical Installation Condition Report (EICR) is a mandatory step before renting your property in England.
The EICR involves a thorough examination of the electrical wiring, sockets, consumer units (also known as fuse boards), and any other fixed electrical fittings within your property. As ever, it’s essential for this work to be done by a sufficiently qualified professional.
How to increase rent using the notice procedure?
This procedure is stated in Section 13 of the Housing Act 1988 and is only available for periodic assured and assured shorthold tenancies. It can’t be used for common law tenancies or during a fixed term.
You need to use the proper form of notice which is a prescribed form. These are freely available online from a reputable website. This Notice must be completed in full (see the notes with the form to help) and then served on a tenant.
What are Landlords Obligations for Legionnaires Disease?
Legionnaires’ disease is a potentially fatal form of pneumonia caused by inhaling small droplets of water containing Legionella bacteria. It can be contracted in various settings, including domestic premises.
Landlords have specific obligations to ensure the safety and well-being of their tenants. In this blog, we will explore the responsibilities of landlords concerning Legionnaires’ disease and how it impacts on them providing a safe living environment for their tenants.
Charging Tenants For Cleaning At The End Of Their Tenancy
You cannot charge tenants for cleaning in all situations – as this would be a fee and would be in breach of the Tenants Fees legislation.
However, the tenant fees legislation does not prevent you from claiming damages for losses suffered by you due to tenants’ breach of the terms of their tenancy agreement.
Are Flats or Houses the Smarter Investment Choice?
Investing in property has long been regarded as a solid strategy for generating passive income and building long-term wealth.
One of the fundamental decisions an aspiring property investor faces though, is whether to buy an apartment or a house as a rental property.
Pests in Rented Property: Who Takes Charge?
It’s a fact of life that pests and vermin can sometimes invade your living space – whether this be annoying insects, rodents scurrying around, or other unwanted creatures. But who bears the responsibility for tackling these unwelcome guests in a rented property?
The Renters Reform Bill, What do Landlords Need to Know?
It’s been a long time coming, but the biggest legal change in a generation is finally before Parliament. Originally proposed back in 2019, the Renters Reform Bill contains sweeping and landmark reforms, aimed at improving the rental system in England.
The Rising Tide… Rents Still Increasing
The cost of renting a home in the UK has long been a hot topic. With each passing year, rent prices keep rising, and it looks like 2023 will be no exception as the rental market shows no signs of slowing down.
What To Do If Your Tenant Wants to Leave Early
If your tenants have an Assured Shorthold Tenancy (AST), they are legally...
How to Buy a Property at Auction
Buying property at auction is usually a quicker process than the...
Our Guide To Getting Started as a Property Investor
If you’re interested in getting started in the Buy To Let market and want some tips on how to start investing in property… then read on! This guide is aimed at the beginner property investor who wants to know how to make their first steps.
Self-Manage or Use a Letting Agent?
So you've bought your first buy to let property or have become an...
Landlord Company Directors What Expenses Can You Claim?
It used to be the case that only a tiny minority of property investors would buy a house through a limited company. With various changes, especially in regards to mortgage tax relief over the past few years though, that number has grown substantially.
Sheffield is a BUY-TO-LET HOTSPOT
Property experts have put Sheffield in the spotlight as a Buy-to-Let...
Managing a Rental Property From Abroad
Buy to let property in the UK can be an excellent investment, whether...
What is a Listed Building?
There are around 400,000 listed buildings in England. Historic England...
Tenants Are Returning to City Life!
Many young professionals during the height of the Covid-19 pandemic...
Property Investment Strategies; The Pros & Cons
At its simplest, there are only two property investment strategies:
• Buy a property and rent it out
• Buy a property then sell it on for a profit
How To Be A Successful Property Investor
The property industry is full of opportunities. Whether you are planning for the future with a buy-to-let to add to your retirement fund or as a path to financial freedom, property is seen as the most secure way to protect and grow your wealth.
Hopefully these points below will help you to understand property as a route to building financial wealth through investment.
Buy Your First Buy To Let Property
Buy to let properties can be an extremely attractive investment but you need to understand exactly what is involved. Use our top tips to provide you with essential information before you buy.
