CGT base cost on selling part of the garden?

admin    Uncategorized     agents

As an accountant I know the Capital Gains rules regarding selling a BLT property that you once lived in.

However, has any one got any advise on the rules in selling part of the garden of a house you once lived in.

The post CGT base cost on selling part of the garden? appeared first on Property118.

View Full Article: CGT base cost on selling part of the garden?

DWP Complaints

admin    Uncategorized     agents

The following post is based on an article first published on Bill Irvine’s website. He covers a topic close to the heart of all landlords involved with benefit dependent tenants. The message he promotes is something I can relate to as I’m dealing with landlords every day of the week faced with similar rental loss.

The post DWP Complaints appeared first on Property118.

View Full Article: DWP Complaints

Supply of London rental properties at critical point

admin    Uncategorized     agents

The number of properties available to rent in London stood at 46% below the national average in January, ARLA Propertymark reveals.

As landlords are increasingly priced out of the capital, tenants are finding themselves up against stiff competition for rental properties.

The post Supply of London rental properties at critical point appeared first on Property118.

View Full Article: Supply of London rental properties at critical point

ARLA reports rental supply drought in London

admin    Uncategorized     agents

Rental Supply:

Agents in London are reporting a critical shortage of rentals which ARLA Propertymark says are now 46% below the national average supply.

As landlords are increasingly priced out of the capital, with high prices correspondingly high stamp duty and yields, tenants are now finding stiff competition to secure rental properties.

In January, says ARLA Propertymark, “letting agents in London were typically managing 99 properties, compared to a national average of 184. It was also the lowest region for supply in December, but it stood at 130 then, compared to a national average of 200.[1]”

David Cox, Chief Executive, ARLA Propertymark comments:

“The rental market in London should be thriving – the capital is a hub for business and culture and attracts a huge influx of new residents every year. But the prospect of being a landlord is becoming less tenable, as potential buy to let investors are deterred by increased taxes and ever more complicated legislation – and higher property prices in London are making it becoming more and more difficult for landlords to make ends meet.

“Government policies designed to help renters now seem to be having the opposite effect, as landlords are moving away from using professional agents. This puts tenants at risk of falling into the hands of rogue landlords, or novice ones who don’t have any experience in the sector.”

[1] – Opinium Research carried out an online survey among 361 ARLA members, 68 of which were based in London, from 1st – 8th February 2018. ARLA Propertymark Protected letting agents were surveyed on a number of key rental sector issues including supply and demand, the management of BTL properties, and monthly rent prices.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – ARLA reports rental supply drought in London | LandlordZONE.

View Full Article: ARLA reports rental supply drought in London

Hidden tax on landlords or agent attempt to pass on costs?

admin    Uncategorized     agents

Due to the Anti Money Laundering regulations of 2017 changes, when the regulator changed from OFT to HMRC, we are legally obliged to carry out an AML check on all our landlords to ensure everyone is compliant with the law.

The post Hidden tax on landlords or agent attempt to pass on costs? appeared first on Property118.

View Full Article: Hidden tax on landlords or agent attempt to pass on costs?

Why is it so hard to find a reliable Plumber?

admin    Uncategorized     agents

We bought a house as an investment rental property in January 2016. A new boiler had been fitted in December 2015 so we were fairly confident that we would not be incurring expense on the boiler for a few years.

The post Why is it so hard to find a reliable Plumber? appeared first on Property118.

View Full Article: Why is it so hard to find a reliable Plumber?

Landlords and Agents advertising “No DSS” could be discriminating

admin    Uncategorized     agents

Housing Benefit:

A letting agent who rejected a tenant applicant because she was on welfare benefits has paid an out of court settlement compensation claim of £2,000 after admitting discrimination on equality grounds.

The case, which unfortunately was not allowed to come to court to establish any kind of precedent, could have far reaching consequences for residential landlords and letting agents.

Single mother, Rosie Keogh accepted compensation from the agent for what she claimed was sex discrimination when the lettings agency refused to consider her as a tenant because she was claiming state benefits.

The case follows a similar ruling last year in the Irish Republic, whose landlords were said to be “blissfully unaware of anti-discrimination legislation when it comes to renting property.”

The letting agent there was ordered to pay a single mother €3,000 having been found to have discriminated against her lone parent status in the renting of an apartment, by The Irish Workplace Relations’ Commission (WRC). This was an award which was the equivalent of two months’ rent to the woman after the agent telling her that the landlord was looking for a couple for the property.

The Irish woman claimed she had been discriminated against under the Irish Equal Status Act on the grounds of her being a single mother and not in a relationship.

In the English case, Rosie Keogh, a cleaner and a former paralegal, argued successfully that a blanket ban on benefit claimants indirectly discriminated against women. Ms Keogh said this was especially so in the case of single women because they are proportionately more likely to be claiming housing benefit than single men.

Settled out of court, the case sets no legal precedent. But it looks like is could be the start of a process that could eventually lead to a ruling against blanket bans on the up-to-now common letting advertisements which state that no DSS (Housing Benefit) tenants need apply.

The claim has been settled, presumable on legal advice, similar to the Irish case, on the basis of discrimination against women, not against benefit tenants per see.

Of course, landlords and agents are allowed to discriminate on other grounds, notably suitability for the accommodation and on affordability, but in these two cases the potential tenants were rejected before they were allowed to have their personal circumstances heard or fully assessed.

Rosie Keogh, whose case was supported by Shelter, the homelessness charity, claimed to have been renting previously for 11 years and always paying her rent in full.

Following the case one BBC reporter has suggested that the thousands of letting agents and landlords around the country who reject housing benefit claimants “could be flouting equality laws”.

However, Solicitor Giles Peaker, who writes a legal blog, Nearly Legal, has said that since the case was settled out of court it settles no principle in law.

This case does indicate a direction of travel which landlords and agents will in future have to take account of. They do need to use caution when rejecting prospective tenants, making sure their grounds for rejection are on a firm footing, and not blatantly breaching the equality laws. 

Landlords and agents need to use a system of tenant assessment and selection which is objective and fair (does not breach the discrimination rules) and one which produces documentary evidence to show that this has been done: http://www.tenantverify.co.uk/discrimination.html

Discrimination and Immigration Checks

Irish Landlord fined for Discrimination

Fergus Wilson defends tenant selection policy

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlords and Agents advertising “No DSS” could be discriminating | LandlordZONE.

View Full Article: Landlords and Agents advertising “No DSS” could be discriminating