Landlords selling rental properties fuels £5.5bn CGT bonanza

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Capital gains tax receipts hit £5.5bn in January and leaves the Treasury on course to rake in £8.8bn this tax year. Analysis of the tax receipts by NFU Mutual, the financial advice firm, show the taxman is set to collect around £0.4bn (5%) more than in 2016-17.

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I might be late to the HMRC party!

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I might be late to the party with this one. Yesterday I received from HMRC a letter/notice under Paragraph 1, Schedule 23 to the Finance Act 2011 from HMRC requiring me (as a letting agent) – a ‘relevant data holder’- to provide ‘relevant data’ about the landlords I manage for and the payments that have been made to them.

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Who is on the hook for flood damage to tenants’ possessions?

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A water pipe has burst in a brand new property rented by a family member of mine. Lots of the tenants possessions are water damaged.

The landlord (a big corporate London agency) is doing the right thing and paying for alternative accommodation –

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BBC Panorama to debate Section 21

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Section 21 evictions:

The future of the no-fault eviction process, mainstay of the Assured Shorthold Tenancy since its inception in 1988, is to be debated on a BBC Panorama programme this evening, Wednesday 21 February at 8:30 pm.

The programme, with an interview featuring Landlord Action’s Paul Shamplina, will investigate the widely debated Section 21 no-fault eviction procedure, and the programme questions whether tenants deserve more protection, or whether new rules would make the housing crisis even worse.

Paul Shamplina puts forward the case for retaining the process, arguing from his own experience, gained over many years running a leading national eviction company, what he claims are the real reasons why landlords turn to Section 21.

Instances of what have come to be known as `no-fault evictions’ are reported to have trebled in the last eight years. BBC’s investigative journalist, Richard Bilton, claims to shed light on the difficulties faced by many private tenants in the UK, who have no long-term right to stay in their homes, and can be ordered to leave with “little by the way of notice or explanation”.

Richard meets some of the people whose lives have been plunged into chaos by their landlords but also talks to landlords who feel Section 21 is their only option. Britain depends on the private rented sector (PRS), and ‘no fault evictions’ feel like a lifeline for Britain’s millions of landlords, and the main reason why they stay in the business.

Panorama interviewed Paul Shamplina, who Founded Landlord Action in 1999, and their senior solicitor, Emma Philips, about the rise of section 21 no-fault evictions.  Commenting on the program, Mr Shamplina says:

“When asked to appear on Panorama, I felt a necessity to present the landlords’ side on why so many use no-fault Section 21.  The term ‘no fault’ is really a bit of a red herring.  There is always a reason why a landlord ends a tenancy, but it’s a far cry from the headlines showing that landlords use it just to throw tenants out.

“If a landlord has a good tenant, the last thing they want to do is get rid of a them. However, in our experience, the main reasons for serving Section 21 notices are for rent arrears, tenants requesting to be evicted so they can be re-housed or, most recently, because landlords wish to sell their property owing to impending tax liabilities.”

New tenancy rules introduced in December 2017 ended the practice of no-fault evictions in Scotland. It introduced a time limitless tenancy for the PRS, with 18 grounds on which the landlord, providing sufficient evidence is put forward to a property tribunal, can argue for re-possession. Rather than having an automatic right to the property back, landlords in Scotland will place themselves in the hands of a tribunal.

Following this, Labour leader, Jeremy Corbyn said his party’s next manifesto will include a pledge to scrap no-fault evictions in England.

Shamplina adds: “There are some very good tenants out there.  Sadly in some cases, they are being evicted through no fault of their own but rather because of their landlords’ circumstances, which must be very upsetting.  However, in my opinion, the abolition of Section 21 in England would compound the housing shortage.”

The average time taken for a landlord to evict a tenant using Section 21 is between 3 and 9 months, and more evictions are carried out by the smaller social landlord sector (councils and housing associations) than in the PRS.

Watch Panorama on BBC One, Wednesday 21st February, 8:30 pm.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BBC Panorama to debate Section 21 | LandlordZONE.

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BBC Panorama to debate Section 21 no-fault eviction featuring Landlord Action

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This week, BBC Panorama (Wednesday 21 February at 20:30) investigates the widely debated Section 21 no-fault eviction procedure and whether tenants deserve more protection, or whether new rules would make the housing crisis worse. The show will feature leading tenant eviction company

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Additional Licensing proposal in Bristol

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This is a must read for all landlords with HMO’s in Bristol.

The council proposes to introduce an Additional Licensing scheme for houses in multiple occupation across Bristol City.  Specifically 12 wards that make up central Bristol – Ashley

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RLA calls for Housing Tribunals

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Housing Courts:

At a recent meeting with the new Minister for the Private Rented Sector, Heather Wheeler MP, at the newly named Ministry of Housing, Communities & Local Government (MHCLG), landlord representatives from the Residential Landlords Association (RLA) called for housing courts, similar to the First-tier Tribunal for Scotland (Housing and Property Chamber)*.

Given the sheer amount of change going on in the private rented sector (PRS) the minister was told that more strategic thinking was needed, rather than what appears to be the government’s piecemeal approach to the PRS.

The meeting was attended by representative of landlords’ and agents’ organisations across the sector, including the National Approved Letting Scheme (NALS), ARLA Propertymark, the National Landlords Association (NLA), and the Royal Institution of Chartered Surveyors (RICS).

It is argued in the sector that the sheer amount of change introduced by new rules and regulations was overwhelming many small-scale landlords, making it difficult to assimilate the new information and comply with all of it.

The RLA stepped up its call for a dedicated housing tribunal (housing court) that could deal more quickly, and give landlords and tenants access to justice less expensively, here experts in the field could preside over practical issues as opposed to purely legal rules.

Currently, the legal system open to landlords and tenants, using the overworked and under resourced county courts, is slow, expensive and rule bound. Legal wrangles and arguments between landlords and tenants can become protracted, they can drag on for months and become very expensive.

If, as has happened in Scotland, the Section 21 eviction process is watered down, and long-term tenancies become mandatory, housing tribunals would become essential, as otherwise landlords could be waiting 12 months or more to rid themselves on non-paying tenants.

The RLA’s representative said:

“This is crucial for landlords [housing courts] who might be prepared to offer longer tenancies to those who want them but who are fearful of being locked into a tenancy and unable to swiftly regain possession of their property if tenants are failing to pay their rent or are committing anti-social behaviour.”

RLA policy director, David Smith, who attended the meeting said:

“We welcome the Minister’s early engagement with the sector and her positive attitude towards supporting the majority of landlords who provide good housing and abide by all their responsibilities.

“It provides a good starting point as the RLA works with the Government to ensure the rental sector is fit for its changing role and works for tenants and landlords.”

* The First-tier Tribunal for Scotland (Housing and Property Chamber) was formed to deal with determinations of rent or repair issues in private sector housing; assistance in exercising a landlord’s right of entry; and relatively informal and flexible proceedings to help resolve issues that arise between homeowners and property factors. From 1 December 2017, following the introduction of The Private Housing (Tenancies) (Scotland) Act 2016 and the new ‘private residential tenancy’ the Chamber began to receive more private rented cases, being applications provided for by the transfer of jurisdiction from the Sheriff Courts of non-criminal matters arising from regulated, Part VII and assured tenancies (Housing (Scotland) Act 2014 refers).

The Chamber also receives applications for rent assessments, drawing up of terms, evictions and other non-criminal matters arising from the new private residential tenancy.

Labour have committed themselves to bringing in similar new measures in England to those already enacted in Scotland, which if implemented would necessitate a similar tribunal system in England.

The new Scottish tenancy is not just a longer tenancy, it is open-ended. It lasts until either the tenant wishes to leave or the landlord exercises one (or more) of 18 grounds for eviction. It offers a higher degree of protection for tenants including: limits on rent increases, fair rent officer assessments, and extended landlord notice periods. Landlords must give 84 days’ notice to a tenant to leave after the first 6 months. There will be rent compensation orders for ‘wrongful termination’ and some local authorities in Scotland are given the power to cap the levels.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – RLA calls for Housing Tribunals | LandlordZONE.

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Do You Drink Wine?

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You know how some offers are just too good to refuse?

Well I’m sharing one with you right now.

If you’re anything like me then £60 of a minimum order of £99 of wine from Naked Wines is probably going to be of interest.

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Six tips to help pet lovers secure the perfect rental property

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Last week Jeremy Corbyn unveiled a draft animal welfare policy, which included plans from Labour to make it mandatory for tenants to be allowed to keep pets in rental properties. However, property management franchise Belvoir, which has over 300 High Street offices

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13 Fires a day reported!

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There have been recent reports since Grenfell that faulty domestic appliances such as washing machines, fridges, tumble dryers etc. are the cause of some 13 fires a day. These statistics are causing concern.

What advice should we offer as landlords?

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