Editorial, January 2017

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Here we are approaching the end of January 2017 already, and the start of Brexit, the triggering of article 50 and the long road out of the EU; ploughing our own furrow for better or for worse.

For those of you who have been sweating over your annual self-assessment tax return, payment is due within the next few days – you have until next Tuesday, the 31^st of January; I will be paying today – the pain!

After this year landlords will no longer be able to claim the 10% wear and tear allowance; from next year only like-for-like replacements will be allowed. Also from the 2017/2018 tax year starting in April the mortgage interest relief allowance will start to be withdrawn at 25% per year, over a four year period.

With government plans now in train to introduce quarterly reporting “Making Tax Digital”, in future there is likely to be radical change in the way landlords’ tax accounting is handled. Under this ambitious but controversial scheme it is said that your digital tax accounts will be accessible to you, and presumably HMRC, at any time from a computer, smartphone or tablet, similar to an online bank account.

However, a Treasury Committee investigation and report has concluded that the planned 2018 start to this project is too ambitious: “there needs to be a delay of the start until at least 2019/20, possibly later,” says the report. Find out more about MTD here

It’s been a long time coming but the government’s White Paper on Housing, which is tipped to contain major reforms affecting the lettings and construction sectors in particular, now looks likely to be published early in February.

Changes in the Private Rented Sector (PRS) have been coming think and fast and the pace of change shows no signs of abating.

Extending Mandatory Licensing of Houses in Multiple Occupation (HMOs) is one example, where a consultation which ended in December means that some sort of legislation is imminent. Current mandatory licensing requires that properties with three or more floors and five or more unrelated tenants be licensed.

HMO Licensing ensures a property meets certain fire safety standards, minimum amenity standards i.e. number of bathrooms, cooking facilities etc., and property management requirements.

Consultation discussions have revolved around a proposal that mandatory licensing should apply to all relevant HMOs regardless of the number of floors or the number of occupiers? Also, minimum room sizes are being considered and 6.5 sq m, already the minimum size for an adult required under the Housing Act, has been suggested.

Yet another game changer came with the Chancellor’s announcement during the Autumn Statement that he would move to ban letting agent fees for tenants. It came as a shock to agents and landlords alike, especially as this follows so many other seemingly negative changes for landlords and letting agents over the last year. This is as yet another proposed change on which Government will need to consult to assess its impact, and all indications are that this consultation will start in March or April.

The Royal Institution of Chartered Surveyors (RICS) says there are two probable routes to implementation – full consultation and primary legislation, which would be unlikely to be completed within 2017 or what it describes as “curtailed consultation and secondary legislation under existing statute” such as Competition & Consumer Regulations, which might be more possible within 2017. But with all the other business the government has on its plate, are any of these deadlines realistic.

Ever optimistic as we landlords are, and in expectation that the government will listen and perhaps see sense when it comes to landlords and agents in the private rented sector, the Residential Landlords Association has issued what it calls its seven point wish list to Chancellor Phillip Hammond to consider ahead of his spring Budget, which is due on 8^th March:

1. To follow the example of Ireland by scrapping planned changes to mortgage interest relief or, at the very least, applying it only to new borrowing for new purchases in the sector;

2. Waive the three per cent stamp duty additional homes surcharge where a landlord is investing in a new property or refurbishing an empty or converted property that is adding to the housing stock;

3. Remove the anomaly that means that VAT can be reclaimed on goods and services in connection with the construction of a new dwelling when it is intended for owner occupation, but not when it is constructed to let;

4. Encourage landlords to sell properties to sitting tenants by applying the new 20 per cent rate of Capital Gains Tax in such circumstances, supporting the government’s home ownership ambitions;

5. Encourage local authorities and public bodies to identify and sell small plots of publicly-owned land suitable for up to five units of accommodation;

6. Review the financial capabilities of landlords to meet the new energy efficiency requirements coming into force from 2018, making EPC-recommended improvements tax deductible;

7. Provide what it calls “modest funding” to improve access to the private rental sector for the homeless.

On a positive note, all the indications are that demand for rental property will go on rising for the foreseeable future.

The research, carried out by property investment consultancy Knight Knox, found that less than a quarter – 23% – of renters are currently saving for a deposit, with many people living in private rented accommodation having little hope of affording a deposit unless their circumstances dramatically changed.

According to Andy Phillips, commercial director at Knight Knox, the findings from the study, which polled 2,000 people currently renting property in the UK, suggest an acceptance among many of those currently residing in the private rented sector (PRS) that owning a home will remain unattainable.

Finally, our congratulations go to David Steele, winner of our Christmas Prize Draw. David is a buy-to-let investor landlord in the midlands, and the happy recipient of a £250 Amazon voucher – see below.

Tom Entwistle, Editor

… LandlordZONE.

View Full Article: Editorial, January 2017

London's Leading Property Event for Landlords, Investors & Property Professionals

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Over 40 exhibitions to date will be on hand to help you grow and retain your portfolio.

Since 2013, the Landlord Investment Show has successfully connected 1000s of landlords and investors and is the leading buy-to-let event in the UK.

Join us at our first show of the year, at Emirates Stadium (Arsenal Football Club), North London.

With over 40 exhibitors and 10+ seminars hosted by speakers with local and national property expertise, this unmissable event will provide landlords and property professionals with the chance to:

• Build your knowledge through seminars from property experts and market leading suppliers
• Source leading property solutions covering tax, legal, insurance, mortgages, referencing, deposit schemes and investment
• Network with landlords and investors throughout the UK to share best practice and keep up to date.
• Expand your business networks via the Morning Networking Event and on the show floor

Source property and investment solutions from leading suppliers

We’ve lined up over 40 leading suppliers so you can source products and services and get advice on the leading solutions in the market.

Register today for free at landlordinvestmentshow.co.uk

Attend for Free

Show features:

• Seminars from leading property experts covering tax, mortgages, investment, legal, referencing, deposit schemes and investment.

• leading suppliers

• Morning Networking Event to facilitate new connections in a less formal environment.

Venue

Emirates Stadium
Arsenal Football Club
Hornsey Road
London N5 1BU
Nearest Tube: Arsenal, Finsbury Park and Highbury and Islington

Opening hours: 9.30am – 3.30pm. Morning Networking Event commences at 9.00am.

Register today for free at landlordinvestmentshow.co.uk

Interested in exhibiting?

Reach UK landlords & property investors throughout the UK

• Connect with 1,000+ landlords and investors throughout the UK who want to invest in key property hot spots in London and the South East

• Expand your business networks via the Morning Networking Events and on the show floor

• Increase sales opportunities by showcasing products and services to buyers and investors

• Promote your company as a thought-leader through speaker slots at one of our seminars

• Target your preferred buyers via sector specific Zones on the show floor – UK, Overseas, Financial and Brokers, Technology, Tax Planning & Wealth Management, HMO & Eco.

Testimonials

‘National Landlord Investment Show clearly attracted a great deal of interest enabling us to talk to prospective clients, including Landlords and Investors.’ – Paula Hebberd – Moore Blatch Solicitors

‘This is exactly the target audience we are trying to reach and if your goal is to get in front of the professional landlord demographic, Shawbrook would highly recommend this event. ‘- Natalie Moreno – Shawbrook Bank

… LandlordZONE.

View Full Article: London's Leading Property Event for Landlords, Investors & Property Professionals

Changing a Prepaid Meter?

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My sister in law is moving into a flat – everything has been agreed, bar one thing. The current meter is a pre paid one, apparently the previous tenant wanted it. My sister in law would prefer to pay by DD which the landlord has agreed. However,the landlord has said that my sister in law… Read more

The post Changing a Prepaid Meter? appeared first on Property118.com.

View Full Article: Changing a Prepaid Meter?

Landlords – take control of your future

admin    Uncategorized     agents

Have you ever dreamt about owning your own business? Doing something that you’re passionate about? HomeXperts are giving Landlords the chance to become the proud owner of their own Estate and Lettings franchise, allowing them to minimise costs and maximise profits.

Franchising may not have been something that you had considered before, but when I tell you that 97% of franchisee-owned units reported profitability in the latest British Franchise Association Industry Research, maybe it is something you’d like to consider now. Franchising means that you can go it alone, without being alone. It means that you can take advantage of a successful business model, with an established brand and a crucial support system. Franchising allows you to invest in your future, so why not invest in something you already have an interest in? HomeXperts provides a property franchise like no other, with unrivalled support and a successful network of Personal Agents.

Your experience as a Landlord will tell you that a change is needed within the Estate and Lettings industry. For too long you may have received a substandard customer service from your agent. Wouldn’t it be reassuring to find an Estate Agent you could trust to manage your property expertly? That’s your gap in the market. You will join the new generation of HomeXperts Estate and Lettings Agents delivering an impressive level of customer care whilst working from home.

HomeXperts franchisees have achieved great success under the guidance of EWIF (encouraging women into franchising) ‘Franchisor of the Year’ Sussanne Chambers and her team. With 72% of their established franchisees having joined the HomeXperts ‘High Flyers’ Club by earning more than £10,000 in commission in a calendar month. One of their midlands personal agents reached the £10,000 mark for 6 months in a row, achieving a personal record of £22,795. Another HomeXperts franchisee partnership first joined the ‘High Flyers’ Club in April 2016, going on to claim the members title for 4 out of the next 5 months. This only proves that alongside the HomeXperts business model, any determined self-starter can achieve success.

One of the most impressive aspects of the HomeXperts Franchise model is the training and support they provide. Their new 12-week Kick Start programme ensures that all new franchisees have their businesses up and running the Monday after they finish their two-week Training Academy. This enables them to focus on winning new business straight away. The 24/7 HomeXperts Hub also allows franchisees to revisit their training at anytime, anywhere making it even easier to become your own boss.

HomeXperts believe that Landlords have an advantage when joining the franchise network. You already have a knowledge of the industry. You already know the good and the bad of the Estate and Letting Agency. Therefore, HomeXperts are offering dedicated Landlord training to help you launch your business sooner. Becoming a HomeXperts Personal Agent will give you an additional stream of income following the April tax changes. It could also allow you to manage your own properties cutting letting agent fees. So, why not contact the HomeXperts team via the details below to see what they could do for you.

Here is what HomeXperts franchises had to say about how becoming a Personal Agent has changed their lives.

Jason Barnett was a landlord before he became a HomeXperts franchisee, he believes it helped him with his clients: “Being a landlord helped me and is continuing to help me as a HomeXperts Personal Agent. I always promote that I let properties myself when dealing with landlords. It shows a level of understanding that I think your average Estate and Letting Agent lacks. I know what it’s like to be in their shoes and my letting clients really appreciate that. I know the service that I would wish to receive when letting my property, therefore I can provide this to like-minded people, removing the stress from finding a sustainable tenant. It has made me confident that I can provide an exceptional service.”

John Burkill wanted to spend more time with his family, HomeXperts allowed him to do this: “HomeXperts is providing me with the opportunity to set up my first business with an already proven concept, and be part of a growing family of Franchisees.

After spending 16 years in the Oil and Gas industry, having the opportunity to live and travel to several countries; HomeXperts does not only provide the freedom to settle down in Cambridge and spend more time around my family, but also the prospect of enjoying the financial benefits of the hours I will be investing in the business and to be in control of my own decisions.”

The HomeXperts team will be happy to answer any of your HomeXperts or franchising questions. Call 01905 678850, to discuss this opportunity with their team, or e-mail franchise@homexpertsuk.com and they will get back to you as soon as possible.

Alternatively, you can visit: www.home-xperts.co.uk to view the online brochure, this explains all you need to know about HomeXperts and provides the next steps to becoming a Personal Agent.

… LandlordZONE.

View Full Article: Landlords – take control of your future

HomeXperts are offering Landlords the chance to take control of their future

admin    Uncategorized     agents

Have you ever dreamt about owning your own business? Doing something that you’re passionate about? HomeXperts are giving Landlords the chance to become the proud owner of their own Estate and Lettings franchise, allowing them to minimise costs and maximise profits.

Franchising may not have been something that you had considered before, but when I tell you that 97% of franchisee-owned units reported profitability in the latest British Franchise Association Industry Research, maybe it is something you’d like to consider now. Franchising means that you can go it alone, without being alone. It means that you can take advantage of a successful business model, with an established brand and a crucial support system. Franchising allows you to invest in your future, so why not invest in something you already have an interest in? HomeXperts provides a property franchise like no other, with unrivalled support and a successful network of Personal Agents.

Your experience as a Landlord will tell you that a change is needed within the Estate and Lettings industry. For too long you may have received a substandard customer service from your agent. Wouldn’t it be reassuring to find an Estate Agent you could trust to manage your property expertly? That’s your gap in the market. You will join the new generation of HomeXperts Estate and Lettings Agents delivering an impressive level of customer care whilst working from home.

HomeXperts franchisees have achieved great success under the guidance of EWIF (encouraging women into franchising) ‘Franchisor of the Year’ Sussanne Chambers and her team. With 72% of their established franchisees having joined the HomeXperts ‘High Flyers’ Club by earning more than £10,000 in commission in a calendar month. One of their midlands personal agents reached the £10,000 mark for 6 months in a row, achieving a personal record of £22,795. Another HomeXperts franchisee partnership first joined the ‘High Flyers’ Club in April 2016, going on to claim the members title for 4 out of the next 5 months. This only proves that alongside the HomeXperts business model, any determined self-starter can achieve success.

One of the most impressive aspects of the HomeXperts Franchise model is the training and support they provide. Their new 12-week Kick Start programme ensures that all new franchisees have their businesses up and running the Monday after they finish their two-week Training Academy. This enables them to focus on winning new business straight away. The 24/7 HomeXperts Hub also allows franchisees to revisit their training at anytime, anywhere making it even easier to become your own boss.

HomeXperts believe that Landlords have an advantage when joining the franchise network. You already have a knowledge of the industry. You already know the good and the bad of the Estate and Letting Agency. Therefore, HomeXperts are offering dedicated Landlord training to help you launch your business sooner. Becoming a HomeXperts Personal Agent will give you an additional stream of income following the April tax changes. It could also allow you to manage your own properties cutting letting agent fees. So, why not contact the HomeXperts team via the details below to see what they could do for you.

Here is what HomeXperts franchises had to say about how becoming a Personal Agent has changed their lives.

Jason Barnett was a landlord before he became a HomeXperts franchisee, he believes it helped him with his clients: “Being a landlord helped me and is continuing to help me as a HomeXperts Personal Agent. I always promote that I let properties myself when dealing with landlords. It shows a level of understanding that I think your average Estate and Letting Agent lacks. I know what it’s like to be in their shoes and my letting clients really appreciate that. I know the service that I would wish to receive when letting my property, therefore I can provide this to like-minded people, removing the stress from finding a sustainable tenant. It has made me confident that I can provide an exceptional service.”

John Burkill wanted to spend more time with his family, HomeXperts allowed him to do this: “HomeXperts is providing me with the opportunity to set up my first business with an already proven concept, and be part of a growing family of Franchisees.

After spending 16 years in the Oil and Gas industry, having the opportunity to live and travel to several countries; HomeXperts does not only provide the freedom to settle down in Cambridge and spend more time around my family, but also the prospect of enjoying the financial benefits of the hours I will be investing in the business and to be in control of my own decisions.”

The HomeXperts team will be happy to answer any of your HomeXperts or franchising questions. Call 01905 678850, to discuss this opportunity with their team, or e-mail franchise@homexpertsuk.com and they will get back to you as soon as possible.

Alternatively, you can visit: www.home-xperts.co.uk to view the online brochure, this explains all you need to know about HomeXperts and provides the next steps to becoming a Personal Agent.

… LandlordZONE.

View Full Article: HomeXperts are offering Landlords the chance to take control of their future