Just say NO to tax avoidance “schemes”

admin    Uncategorized     agents

For the avoidance of any doubt, let’s first, let us be clear of what a “scheme” is.

DOTAS (Disclosure of Tax Avoidance Schemes) is the acronym used for the procedure introduced by the UK government in 2004 aimed at minimizing tax avoidance.

The post Just say NO to tax avoidance “schemes” appeared first on Property118.

View Full Article: Just say NO to tax avoidance “schemes”

NLA/RLA Merger – Stand and fight with us

admin    Uncategorized     agents

Last November the Alliance was formally launched. Around this time the NLA and RLA entered in to discussions to merge. On behalf of the Alliance, our steering committee and all our members nationwide I would like to offer our best wishes to the new NRLA .

The post NLA/RLA Merger – Stand and fight with us appeared first on Property118.

View Full Article: NLA/RLA Merger – Stand and fight with us

How to: Keep your property secure

admin    Uncategorized     agents

As a landlord, it goes without saying that your property should be safe and secure. There are a range of things that you as a landlord can do to ensure your property is as safe as it can be. In this ‘How to’ series, thanks to the RLA’s partnership with Tradepoint, we take a look at […]

The post How to: Keep your property secure appeared first on RLA Campaigns and News Centre.

View Full Article: How to: Keep your property secure

ARLA 5 point manifesto

admin    Uncategorized     agents

David Cox, of ARLA Propertymark, has written in the Daily Mail outlining a five point plan for the PRS that will encourage landlords to stay in the sector and give tenants a better deal.

In the article he detailed the plans as a new manifesto to be considered by the government:

1.

The post ARLA 5 point manifesto appeared first on Property118.

View Full Article: ARLA 5 point manifesto

Tenants waited for fees ban, but now face higher rents

admin    Uncategorized     agents

Fees Ban:

Since the introduction of the tenant’s fees ban in England in
June there’s been a boost in the number of new tenancy applications, but rents
have been rising as landlords are unwilling or unable to absorb the extra
costs.

The tent fees ban means that letting agents are unable to
charge their administrative costs to tenants by way of tenant fees, and deposit
amounts are capped at the equivalent of 5 weeks’ rent, so inevitably these
costs are passed on to landlords.

Some landlords are willing to absorb the extra costs, or if
they manage the properties themselves they may not even charge tenant fees, but
otherwise most landlords are passing on the extra costs by way of rent
increases.

The upshot is that tenants are no longer asked to provide
high fees in addition to their capped security deposit, but the cost will be
spread out over a period by way of a slightly higher rent – still a benefit for
most tenants.

The trend has been reported by letting agency franchise
group, Belvior stating that they have seen a dramatic increase in the number of
applications since the fees ban came into force, with their July applications
up 32% on July 2018.

Both Belvoir and ARLA Propertymark are reporting rent rises
across England, Wales and Scotland, Belvoir stating by an average of just over
4.5% compared with the same period in 2018.

Bevoir CEO Dorian Gonsalves has said that Belvoir offices
reported high demand, at a time of reduced supply due to other regulatory
changes.

David Cox, Chief Executive of ARLA Propertymark, has said:

“Following the Tenant Fees Act coming into force in June,
rents have continued to rise, which we believed would happen,�

“The fees agents have been banned from charging are still
being paid for by tenants, however it’s now through their rent, rather than
upfront costs.

“The fall in the number of properties available further
increases competition in the market, which only pushes rents up or forces
landlords to exit the market entirely. As the sector faces increased levels of
legislation, it’s evident this is putting even more pressure on the industry.�

Dorian Gonsalves od Belvoir has said:

“The majority of Belvoir agents predict further rental
increases.�

“As uncertainty over Brexit continues, and tenant demand
increases, we hope that the Government will consider a more joined-up and holistic
approach to the rental sector, which will help to increase the supply of
properties introduced to the market.�

“During the past 11 years average London rents have
increased by about 4.8% per year. This increase is ahead of average inflation
of 3%, but, being a capital city with affluent individuals seeking
accommodation, and a market that is experiencing stock shortages, the rise is
inevitable.

“Outside London, average monthly rents range from £629 and
£638 in the north-east and north-west respectively, £771 in East Anglia and
£783 in the west midlands, through to £1,155 in the south-east.�

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Tenants waited for fees ban, but now face higher rents | LandlordZONE.

View Full Article: Tenants waited for fees ban, but now face higher rents