LBTT for sole owner landlord incorporation in Scotland

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If you are a landlord in Scotland and you own properties in your own name, you might be considering transferring your rental property business into a legal company.

GOOD NEWS – the LBTT is likely to be a LOT less than you might imagine.

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£795,000 HMO purchase Stamp Duty was only 1% – WHY?

admin    Uncategorized     agents

The SDLT on a £795,000 investment property would ordinarily be £53,600 after factoring in the 3% additional rate.

However, in this instance the SDLT was advertised by an agent at £7,950.

Our client, who was extremely interested in buying the property

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Combustible Electrical consumer unit

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Hello All at 118 Property, I have a question, I’m in the process of buying a house to let. The Electrical safety report done in 2017 highlights the Electrical enclosure of the power unit to be of flammable material. the report shows C3

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CGT on selling a Buy to Let property after divorce

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Hi, I am after a bit of advice. I purchased a Buy to Let property in 1998 for £14550 on a mortgage in my name only. I married in 1999 and we then went on to buy a couple more BTLs.

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R.I.P. David Knox – A.K.A. “Appalled Landlord”

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Our dear friend, David Knox – A.K.A. “Appalled Landlord” passed away on 21st January 2020.

He was probably best known by Property118 readers for publishing his investigative work and critique of the Housing Shelter Charity, the lack morals and underhand practices of which he despised.

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Would you like to be on Channel 5’s Nightmare Tenants Slum Landlords programme?

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Its producers are looking for landlords who need help with a nightmare tenant or letting agent and are happy to feature in the show.

Are you one of the millions of landlords who tune in to watch Channel 5’s regular Nightmare Tenants Slum Landlords TV show?

If you are, and need help including ejecting a tenant who has failed to pay their rent or any other ‘nightmare tenant’ or ‘nightmare letting agency’ problems, then it’s time to get in touch.

London-based Britespark Films, which has been making the TV show since 2015, is making its 6th series.

The highly popular and rated documentary regularly features the eviction services of Landlord Action’s Paul Shamplina (pictured, above, during filming).
From the eviction of tenants who default on their rent as well as scam letting agents and housing enforcement teams cracking down on ‘beds in sheds’, the show has helped more than 200 landlords get their properties back.

If you are a landlord seeking help and are happy to have your case highlighted on TV, we’d like to hear from you.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Would you like to be on Channel 5’s Nightmare Tenants Slum Landlords programme? | LandlordZONE.

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Airbnb PR stunt by furnishings firm backfires

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A calculator that highlighted how landlords could make more income using Airbnb rather than letting their properties to local people has been criticised.

Bespoke blinds company Thomas Sanderson
incurred the wrath of local councillors in Brighton and Hove after it created the
online rental return calculator which showed how landlords in the city were
making an average monthly income of £1,375 by renting their property, whereas Airbnb
could pocket them £2,241 a month. 

Thomas
Sanderson is a prolific creator of property-related online tools such as ‘Student
Cities’ which helps
users see which cities are likely to have the most student renters, and the ‘Buy-To-Let
Hotspots’ tool to
show rental yield as a percentage of the property’s overall value in towns
and cities around the UK.

However, its latest PR wheeze was slammed by
city councillors in Brighton and
Hove where it’s estimated that 2,000 homes are listed as holiday lets.

They fear
encouraging residents to register their homes for Airbnb means taking rentals
out of the long-term rental market, negatively impacting on residents.

Green councillor Martin Osborne told the Brighton
and Hove News: “A
lack of affordable housing in Brighton and Hove means we have one of the most
acute housing crises in the country. 

“This new calculator works directly against
plans to alleviate this crisis by encouraging landlords to switch to
short-term, holiday lets rather than offering a longer tenancy, potentially
draining the private rented sector of available homes.”

Richard Petrie, marketing director of Thomas
Sanderson, defended the tool and says it was not designed to encourage
landlords to stop renting long term.

He explains: “Although we discovered the monetary rewards are
potentially greater for Airbnb rentals, they carry more risk and more work than
traditional renting and therefore require a totally different approach.” 

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Airbnb PR stunt by furnishings firm backfires | LandlordZONE.

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Small Claims Cat and Mouse games?

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To cut a story short… Bad tenant trashes flat and leaves with rent arrears. Legal process begins. Court dates where I attend and she doesn’t – still no resolution.

Situation is now that it has been moved to small claims track court with a hearing date of early March.

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New: Young and old tenants alike spending fortunes on deposits

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Shocking new research shows some tenants are spending up to 138% of their monthly salary on a rental deposit.

Renters over 60 need to fork out the same chunk
of their monthly salary on a deposit as their grandchildren, finds new research
on average tenancy deposits in the UK.

With more older people living in the rental
sector, along with a fall in the number owning their own home, tenant deposit replacement
scheme Ome says its findings show that those aged 60-plus
spend on average 68% of their salary to secure a rental property – the same as
those aged 22-29.

And its women’s pockets which are hit hardest,
as while it works out at 55% of men’s salary, it’s 88% of women’s. 

“Those in the youngest age groups tend to be
on the lowest wages and as a result, have to pay out more of their monthly wage
on a deposit, but more often than not they have a support network of family
that can help them start out on their rental journey and contribute to some of
the costs,” says Ome co-founder,
Matthew Hooker.

“However, this isn’t always the case for
those 60 and above who may be on a lower wage and don’t have the option to
borrow from friends or family.”

Those aged between
18-21 have it toughest with the average tenant deposit, according to Ome, accounting
for 118% of an average young person’s monthly salary.

This falls to 105%
for men, while female tenants in this age range are looking at an eye-watering 138%
of their net monthly wage to cover a deposit. 

With the average rental deposit currently
setting tenants back £1,139, men need to spend 47% of their monthly net income
on a rental deposit, climbing to 69% for women.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – New: Young and old tenants alike spending fortunes on deposits | LandlordZONE.

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Summerhouse, Annex, Studio? Could I rent to a lodger?

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I’ve had plans drawn up for a conversion of my outbuilding into an open plan bedroom/kitchen with separate shower room. The outbuilding replaced a garage under permitted development by the previous owner. It is comparable to a good sized single garage.

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