No DSS policies: Landlords reminded tenancies MUST be assessed individually

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The RLA is reminding landlords they must not impose blanket bans that discriminate against tenants on benefits. As Shelter prepares to release a new report on the issue this week, the association has reiterated its position – that landlords should assess all potential tenancies individually, and that decisions must be made fairly on a case […]

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Can I pay all my tax in the Isle of Man

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I live and am a resident on the Isle of Man for over 10 years. My pensions from the UK are sent to IOM without tax being deducted and I pay the tax on IOM.

I have properties in the UK and pay tax on them in the UK.

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All average deposit rates rise for first time in 7 years!

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Moneyfacts UK Savings Trends Treasury Report data (not yet published) highlights the savings market’s continued recovery, with all average rates increasing for the first time since February 2011.

Charlotte Nelson, Finance Expert at Moneyfacts, said:

“Many would have assumed that in the lead-up to a base rate rise

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Forum Spotlight: Are wasps nests a landlords or a tenants responsibility to remove?

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A landlord posted in our Forum recently a question relating to wasps nests. They were having trouble with wasps. The tenant moved in to the property in December, and the landlord recently found the wasps nest at the bottom of the garden. They posted in our Forum because they wanted to know who is responsible […]

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‘Central Funds’? Maybe the council will never learn!

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I must admit I never knew of such a thing as ‘Central Funds’. Perhaps P118 readers could shed some light on what it is and why we have it.

My company was issued an Abatement Notice for fly-tipped rubbish on a piece of land (read: separated off-road parking space) that I do not own.

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HMO tenant barricaded room and started £80,000 fire

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A month ago, one of my tenants in an HMO barricaded himself into his room and started a fire. He was rescued by the fire brigade, and although initially pleading mental health issues, has now been charged with arson and is on remand.

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Could Bulgaria be a tax haven for landlords?

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As I understand it, both the corporation tax rate and the income tax rate in Bulgaria is fixed at 10%, the lowest in Europe.

In addition to looking into becoming non-resident, by moving to Bulgaria, I have also been exploring incorporation relief.

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Fears that 3-year tenancy will be introduced prematurely

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 3-year tenancy:

There has been press speculation that the government is intent on introducing a mandatory 3-year residential tenancy, even before the ongoing consultation process on the major change is complete on the 26^th of August.

Despite fears expressed by landlord groups that the move would be detrimental to the private rented sector (PRS), the Government’s intent appears to be there. A heavy clue lies in the consultation’s title: “Overcoming the barriers to longer tenancies in the private rented sector.â€�

Landlords groups have been warning that the Government should not make any decisions on longer term tenancies until the consultation process is complete and all interested parties have had their say. Landlords are urged to participate in the consultation process – see here

Responding to reports in The Sun newspaper that a decision will be announced next week, the Residential Landlords Association (RLA) has warned that any such move would be a “huge breach of confidence in the democratic process�, given that the consultation on longer tenancies does not close until 26^th August.

Landlord groups have said that they support longer tenancies in principle, but on a voluntary basis, not as a compulsory regime which means that they will be imposed as the norm.

One suggestion is that financial incentives such as tax relief would be the best way to ensure that landlords offer longer-term tenancies to those that want them and where landlords are willing to give them.

The proposed new tenancy regime would in effect remove the no-fault eviction process so valued by most buy-to-let landlords, known as section 21. It would be replaced with an adversarial court process (section 8) where the onus of proof of tenant default is placed on the landlord.

This section 8 process relies on 17 prescribed grounds for possession, meaning that possession is no longer assured when a tenancy goes wrong. The decision to award a possession order is most often at the discretion of a judge in what is often a long drawn out and expensive legal process. This would considerably increase the letting risk for landlords.

The RLA comments:

“The English Housing Survey shows that private sector tenants are, on average, living in their homes for almost 4 years increasing to 17 years for those aged 75 and above. So the longer tenancies demanded are already a reality for many.

“The RLA supports longer tenancies but making a three-year tenancy the default position by law would be complex as it requires trying to establish every possible scenario in which a tenant might not want such an agreement, such as students, and how that would work. The alternative, which we support, is the use of financial incentives.

“Any measures to encourage longer tenancies need to go hand in hand with reforms to improve and speed up the ability of landlords to regain possession of a property where a tenant is, for example, failing to pay their rent or committing anti-social behaviour. This includes the Government progressing with plans for a new housing court.�

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