How To Corporatise Your Property Business – 3 places left

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How To Corporatise Your Property Business. Last 3 places left on the One Day Workshop this Saturday 17th March.

Last chance opportunity to attend this tax planning workshop and start to put in place your plans before the end of the current tax year.

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Remove VAT on Home Safety Products – Petition

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Please could this petition be included on Property118.

Axe Safety Tax, remove VAT on safety products & services for residential homes

Residential safety products & services are taxed at 20%, such items include: smoke alarms; annual gas safety checks;

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Incentivising landlords in the private rental sector

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Housing Proposals:

A new report published by the University of Cambridge Centre for Housing & Planning, in partnership with the Joseph Rowntree Foundation (JRF), recognises the reluctance of many landlords to let their properties to low income tenants.

Given the apparent lack of support from government for small-scale private rented sector (PRS) landlords in this area, this report has produced three proposals which it claims could incentivise private landlords to let to social sector tenants, those claiming benefits.

Many benefit claiming tenants – singles and families – are having great difficulty securing rental accommodation in the private rented sector, and also in the social sector, given the decline of social sector housing.

The report claims that these proposals if implemented would improve accessibility, affordability, quality and security of housing for people in poverty in the PRS.

The proposals follow an international policy review of housing reform, and the contributing parties have identified key measures for further development in England:

(Proposal 1)

“The introduction of a Rental Incentive Allowance, enabling landlords to offset a proportion of their rental income against tax if they let their property to households in receipt of Local Housing Allowance. According to the report, this option would enable more people in poverty and with low incomes to access a larger range of more affordable private sector rented accommodation.”

(Proposal 2)

“Boosting incentives to improve the quality of property by allowing specified improvements to properties to be tax deductible against income tax, rather than Capital Gains Tax. This proposal could also incentivize landlords to take further action in improving the quality of accommodation on offer to low-income households, while also making improvements on measures such as energy efficiency, reducing fuel bills and other costs that would improve affordability.”

(Proposal 3)

“Improving access to housing by enabling local authorities to issue vouchers to priority households, guaranteeing the payment of rent. This measure could incentivise landlords to accept tenants viewed as a higher risk, making it easier for them to access accommodation.”

Cost Effective Measures?

The three proposals have been costed at: Proposal 1, £354 million a year; Proposal 2, £36 million in its first year, rising gradually to £86 million per year after nine years, and Proposal 3, £170 million per year.

By focusing on the use of taxation as a means of changing incentives for landlords in the PRS, the report claims the costs associated with the three proposals could be offset by HM Treasury’s recent tax increases implemented on private landlords.

The Government has anticipated an £808 million annual increase in tax revenues from landlords by 2021–22 through restricting mortgage finance interest relief to the basic rate of income tax.

The current Government is already in principle considering ways to incentivise landlords to offer longer tenancies.

Read the report here

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Incentivising landlords in the private rental sector | LandlordZONE.

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Landlords Union Reveals How Its Members Net Profits Can Sky-Rocket By Switching Ownership Structure

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Far too many landlords have been guilty of focusing on problems than solutions when it comes to optimising their rental profits.

In many cases, changing the ownership structure can prove to be far more effective than refinancing or increasing rent.

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3 Thriving Buy To Let Property Hotspots in Birmingham

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Value Investments:

Named most improved UK city to live and work and ranked higher than London in a list of most popular cities in Europe to invest in 2017, Birmingham is flourishing. With a string of high profile development and infrastructure projects underway or in the pipeline, notably HS2 and the major Paradise development, investors are flocking to the city.

Big ticket businesses, such as HSBC, PwC and HMRC are relocating offices from London and with its recent confirmation as host of the 2022 Commonwealth Games and a devo deal securing further funding for transport and infrastructure, the popularity of the UK’s second city is certainly showing no sign of abating, seeing growth of 7.3%* over the last 12 months making it England’s fastest growing city.

With its excellent connectivity, educational establishments and world-class leisure, retail and entertainment offering continuing to attract both businesses and visitors to the city, Birmingham is certainly booming.

Full details on properties to buy in Birmingham can we found on the Seven Capital website.

Edgbaston – B15

Edgbaston is an affluent suburban area of central Birmingham, curved around the southwest of the city centre. The picturesque suburb plays host to the world-renowned Edgbaston Cricket Ground, a Test match venue, as well as Edgbaston Golf Club and the Priory Club. The B15 postcode has always held prestige and appeal. Now with further development into its already popular offering, Edgbaston is only set to become even more exclusive.

Selling fast near this high-end location are the developments Broadway Residences and The Tower of Broadway, both also situated just a 5-minute walk from HSBC’s new head offices in Arena Central.

Prices from £179,950 with just 10% deposit with projected yields of 7%.

Jewellery Quarter – B3 & B18

The centre of the UK’s jewellery making sector, this area is historically home to one of Europe’s largest concentration of manufacturing jewellers. But it is much more than just the place to buy diamonds and high-end designer watches.

This historic part of the city has in recent years become a very popular and trendy place to live. And being still classed as ‘up and coming’, there are plenty of relatively affordable places to rent or buy. An area with more than 200 listed buildings, the Jewellery Quarter has undergone a transformation over the past ten years, becoming a place that is appealing to not only work, but live and play too.

The Quadrant Development by SevenCapital is set in a prime city centre location just a 10-minute walk either way to the popular Jewellery Quarter and Brindleyplace areas of the city, and a 17-minute walk to Birmingham’s Colmore Business District. The Quadrant is also located conveniently close to the city’s most significant development in a generation – Paradise. When fully completed in 2026, Paradise will be an incredible 1.8 million square foot of commercial, retail, leisure and hotel space.

Prices from £199,950 with just 10% deposit with projected yields of 6%.

Erdington – B23

Erdington is a Birmingham suburb located just 12 minutes from the city centre. The focal point for the town itself is its bustling High Street, a thriving retail centre with around 280 local businesses providing it’s 23,000* residents with everything they need. However, its attraction as a location is much built on its close proximity to the centre of Birmingham and its transport links and many amenities. Combine this with its position near to the M6, Birmingham International Airport and the affluent neighbourhood of Sutton Coldfield, it’s easy to see why growth is forecast to be strong in this area.

The latest SevenCapital development Nexus Point Development is situated just 200 meters away from the high street and 400 meters away from Erdington train station.

Prices from £131,950 with projected yields of 6%. The average property price in Erdington is £140,054 with Erdington being ranked 5th in the Zoopla Top 10 Hipster Hot Spots.

To see all the latest Birmingham developments, visit the SevenCapital website.

*Hometrack report

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – 3 Thriving Buy To Let Property Hotspots in Birmingham | LandlordZONE.

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Reasons for not selecting tenant and claims of discrimination?

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I have had an enquiry from a disabled gentleman who has two dogs to help him with his disability and has disability benefits as his only income. He has claimed that Citizens Advice and the local council have both told him that it is illegal for a landlord to refuse to let him a property on the grounds that he is disabled or that his income is disability related.

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80% Buy to Let LTV now offered by Ipswich BS

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Ipswich Building Society now offer 80% Loan To Value on their Buy to Let mortgage range for a minimum loan of £75,000.

There is a 2 year Discounted rate available at 2.95% (variable rate currently 5.49% with a discount of 2.54% until 2 years from completion date).

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Snow delayed form 6A?

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I have sent a form 6A to my Tenants dated the 28 Feb with the notice expiring the 1st May.

However, the tenant did not receive the notice until the 5 March and is complaining that she will have less than the 2 months notice as per contract.

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Statutory requirement to give new landlord’s name and address?

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I have read that under the Landlord and Tenant Act 1985 Section 3 there is a statutory requirement for BOTH the vendor landlord and purchaser landlord to advise a tenant of a change and the new landlord’s actual address, max fine £2500.

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Government seeks Private Landlords’ Views

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Landlord Survey:

The new government department, the Ministry of Housing, Communities and Local Government (MHCLG) is to survey private landlords, asking selected PRS landlords about their experiences operating a rentals business, and providing homes for their tenants.

The “English Private Landlord Survey” of more than 100,000 landlords and agents, is to be conducted by the independent social research agency NatCen. It aims to create “the most authoritative evidence source on the profile and views of private landlords and their agents in England”.

The survey will run for six weeks, March to April, and the invitation-only survey will ask landlords and agents chosen at random from those using Tenancy Deposit Protection schemes to take part.

The RLA says,

“This is the first time the Government has approached landlords directly and asked them to share their experiences in almost 10 years – so if you get an invitation to participate we would urge you to accept it.”

With more people than ever before living in rented housing in the UK, the government recognises the importance of the sector and wants to understand more about small-scale private landlords and and how the PRS operates.

The survey will ask questions about practicing landlords, their agents, what kind of properties they let, the tenants they are letting to, what problems they come up against most, and how the recent tax and regulations changes are impacting on their businesses.

The aim of the exercise is to more accurately understand the sector and inform future government policy.

The English Private Landlord Survey

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