Four Property Investment Structures – Video Interview

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In this video, Mark Alexander (founder of Property118) discusses ownership structures for buy to let landlords with Ranjan Bhattacharya.

As the video is 26 minutes long you might want to grab yourself a cuppa before you start watching.

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Chancellor’s income support plans welcomed

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Landlords are welcoming the Chancellor’s package of measures to support workers’ incomes during the coronavirus outbreak. The RLA and the NLA said the decision to ensure the Local Housing Allowance is guaranteed to cover at least 30 per cent of market rents in a claimant’s area is a vital measure to support tenants and landlords. […]

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Will landlords who ignore Right to Rent checks during the Coronavirus crisis be fined?

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Leading industry organisation asks government for guidance as fear of infection means many landlords and agents are reluctant to meet prospective tenants face to face.

Landlords and letting agents should be
allowed to suspend compliant with the government’s unpopular Right to Rent
checks, a leading trade organisation has said.

The Right to Rent checks require landlords or
their agents to ‘eyeball’ documentation to ensure it is legitimate and threatens
them with fines of up to £10,000 if they do not.

But as the government strongly urges the
public to socially isolate until the crisis is over, ARLA Propertymark says
Right to Rent checks should therefore be suspended.

The
organisation also says the Government must clarify how agents and landlords
should deal with emergencies in rental properties, such as when a boiler breaks
down in a tenant’s home where someone is self-isolating or has the virus.

Under these
circumstances, agents and landlords can’t carry out their normal legal
obligations due to the risk of catching and spreading coronavirus.

It wants landlords and agents to contact it with experiences and suggestions so it can use these to better inform the Government about how Coronavirus is affecting the industry, which it hopes will help to push for more answers. It is also pressing the Government to ensure rent continues to flow by suspending the five weeks landlords and tenants must wait to receive Universal Credit payments and asks that these are paid in full directly to the letting agent or landlord as soon as a claim is made. Propertymark has created a 27-point list in line with the ‘Delay’ stage of the Government’s response to the pandemic to support agents, including information relating to valuations and viewings, obligations around inspections, maintenance, and cleaning, and business continuity plans in the event of disruption to staff and suppliers.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Will landlords who ignore Right to Rent checks during the Coronavirus crisis be fined? | LandlordZONE.

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Keep calm and landlord on – top tips for supporting tenants

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The Coronavirus pandemic has caused widespread disruption to
homes, businesses and industries, with many people concerned about how they
will pay their bills, support their families and maintain their livelihoods.
For landlords and tenants the uncertainty surrounding rental payments, current
living arrangements and potential contingency plans are understandably at the
forefront of many people’s minds.

It is now more important than ever to look to support one
another in any capacity we can in order to navigate this challenging time. Today,
the NLA
and RLA have released a joint statement providing detailed guidance
on steps landlords can take.

“We are encouraging all landlords to work
positively with tenants to provide support where needed throughout this
difficult period. Landlords should be as flexible as they can to help tenants
facing payment difficulties resulting from the impact of the coronavirus.

To support landlords in this we are calling for a package of measures from government and mortgage providers. This includes a temporary scrapping of the five week wait before Universal Credit claimants get their first payment, pausing the final phase of restricting mortgage interest relief to the basic rate of income tax and ensuring lenders look sympathetically on requests by landlords for mortgage payment holidays where their income is being affected through reduced or non-payment of rent.” Read the full landlord guidance here.

Positive landlord and
tenant stories prevail

Despite the uncertainty created by Coronavirus, positive and
heart-warming stories have emerged of landlords taking proactive and thoughtful
steps to help support their tenants at this difficult time.

A tenant, Amy Gledhill, tweeted an emotional statement
surrounding the current pandemic, which has now had 22.5K retweets and 171.7K
likes on the social media site, after her landlord messaged her about the current
uncertainty surrounding COVID-19. Her landlord, Chris, wanted to ensure that
she felt “secure in the house” and would be open to working something out if
her “circumstances change”, he signed off by asking Amy and her family to take
care of themselves.

In her tweet,
Amy implores other landlords to also do the same.

Opening good lines of landlord
tenant communication is vital to help provide mutual support and
guidance during times of uncertainty and can make a real difference to those
concerned about their current position.

A twitter poll
conducted by LandlordZONE asking “Landlords, would you give your
tenants a rent holiday due to the impact of Coronavirus?” found a close split
between those who said they would (48.2 per cent) and those who currently
wouldn’t offer rent holidays at 51.8 per cent.

This is a difficult decision for landlords, many of whom most
likely would like to be able to offer rent holidays but are unable to due to
the immense pressure this puts on their own finances, bills and mortgages. It
is important to note that whether you are a landlord or a tenant you are likely
to currently be in the same boat at the present time, and so working together
to find workable solutions that benefit you both is a sensible approach. 

Current support for landlords
and their tenants

The
Government has now announced a comprehensive package to support the private
rented sector, this will apply to both landlords and tenants providing security
during this period.

In a
statement released on the Ministry
of Housing and Local Government (MHCLG) website, the Housing Secretary
Robert Jenrick has announced that landlords will be offered a three-month
mortgage holiday for the duration of the Coronavirus outbreak.

In
addition, there will be a delay
in eviction proceedings for three months during the current
pandemic. The Housing Secretary commented: “The government is clear – no renter who has lost income due
to coronavirus will be forced out of their home, nor will any landlord face
unmanageable debts.”

The MHCLG
also stated that guidance will be issued which asks landlords to show compassion
and to allow tenants who are affected by this to remain in their homes wherever
possible. 

To
recap, landlords should be aware of the following announcements from the MHCLG:

• Emergency legislation to suspend
  new evictions from social or private rented accommodation while this national
  emergency is taking place
• No new possession proceedings
  through applications to the court to start during the crisis
• Landlords will also be protected
  as three month mortgage payment holiday is extended to buy to let mortgages

In
these unprecedented times support, compassion and understanding are the key
messages reiterated throughout the sector.

It is highly likely that additional measures and/or
updates will be provided in the coming days which will impact on landlords and
their tenants. Make sure to regularly check GOV.UK
and MHCLG
for the most up to date advice and guidance.

Landlord and tenant
wellbeing

Now more than ever it is incredibly important to
ensure the continued health and wellbeing of your tenants.Coming together and supporting your tenants during this time can
help you to maintain a good landlord-tenant relationship, as well as helping to
reassure tenants who may be concerned over recent developments and worried
about issues such as paying the rent.

Some top tips for supporting the mental wellbeing
of your tenants and yourself include:

• Understand
  your tenant’s current needs. This can help you to be able to provide
  suitable support. In challenging times, you may need to prioritise your
  tenant’s wellbeing or look for mutually beneficial solutions to the problems
  you both face
• Communication
  is absolutely essential. It is important for landlords to establish a clear
  line of contact with their tenants
• Don’t just be a landlord, be a friend. Nobody
  knows what the next few weeks will bring and this uncertainty will be causing
  many landlords to feel concerned. Sharing your worries with your tenants will
  help everyone to see concerns from each other’s points of view. It is very
  likely that you are both experiencing similar worries
• Don’t
  forget to also protect
  your mental health as a landlord.

Read more information on how you can support your tenant’s mental wellbeing, as well as your own, here.

With the current situation developing day by day there is a
significant amount of further change on the horizon for the whole of the UK. The
main message at the present time is to support one another, stay on track with industry
and government
updates and ‘keep calm and landlord on’.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Keep calm and landlord on – top tips for supporting tenants | LandlordZONE.

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Landlords call for government to build on work to support private rented sector

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The country’s leading landlord organisations are calling on the Government to build on its positive steps to date to support the private rented sector through the coronavirus outbreak. The organisations are calling for: Efforts to help reduce costs for landlords without mortgages Not all landlords have a mortgage and therefore will be unable to secure […]

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Landlord Action receives first court adjournment due to Coronavirus

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Landlord Action has received its first court adjournment from Blackpool County Court for a Section 8 eviction, after the government announced this week it is to ban evictions and introduce three-month mortgage payment holidays for landlords whose tenants are struggling to pay rent due to coronavirus.

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Today in politics: Coronavirus, Labour plans, elderly renters, UC and fire safety

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We look at all the latest political news as regards coronavirus, look at Labour’s proposals when it comes to tackling the pandemic as well as questions on support for elderly tenants and Universal Credit fraud. Coronavirus update Ahead of an announcement expected today by the Chancellor on support for employment and income during the coronavirus […]

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BREAKING: Blackpool County Court is first to adjourn Coronavirus evictions

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The announcement, which is likely to be followed by other county courts handling Section 8 evictions, is ahead of the government’s promised emergency laws.

Blackpool’s County
Court is the first in the UK to suspend all Section 8 evictions despite the
fact that the government has yet to introduce its emergency legislation.

In a statement released today, the county court says all new eviction proceedings at the court will now be adjourned until the beginning of June. It is believed that many more county courts will now follow suit, effectively bringing any new eviction processes to a standstill in England within a few days.
“Landlords now have to busy themselves with ongoing cases but there will be many adjournments and this was the first that came through yesterday from Blackpool County Court on a section 8 case,” says Paul Shamplina of Landlord Action.
“If landlords are experiencing adjournments, they need to provide the court order to their lender so that they can ask or their mortgage payments to be suspended.

“We are still
awaiting the government’s decision as to when possession claims have to be
stopped at court for a three-month period.
“But it wouldn’t surprise me if the courts soon shut down for a period of
time.  We are unknown territory. Our advice line at Landlord Action has
been very busy advising concerned landlords.”

The full text of
the Blackpool County Court statement

UPON IT BEING
RECORDED that:

(i) There is a public health emergency caused by the Covid 19 pandemic and that it is likely to have economic consequences on the continued occupation of residential dwellings by those who have not or cannot meet the charges associated with occupation;
(ii) That the declared intention of the Government is to pass emergency legislation to prevent evictions of those who rent residential property during the pandemic;

(iii) That the Government has invited lenders to support borrowers by way of mortgage holidays’ in respect of mortgages secured on residential properties;

(iv) That enforcement of any possession orders is unlikely to be in the interests of justice at this stage WITHOUT A HEARING IT IS ORDERED that:

1. The hearing of possession proceedings listed
for 1st April 2020 is vacated.

2. The proceedings will be re-listed on the first open date after 19th June
2020, unless by no later than 4pm on 12th June 2020, the court makes a further
order.

3. The court having made this Order without a hearing, the parties’ attention
is drawn to the right to apply to have it set aside or varied.
Any such application must be made formally by application notice (Form N244,
fee payable) within 7 days of the date of service of this Order.

4. Any application made pursuant to paragraph 3 above will be listed for
hearing by telephone as urgent business not earlier than the third day and not
later than the seventh day after the application is received by the court.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: Blackpool County Court is first to adjourn Coronavirus evictions | LandlordZONE.

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Scotland doubles down on English Coronavirus-linked evictions ban

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While Boris Johnson announced a three-month wait for landlords before an eviction can start, Scottish landlords will have to wait for six months.

Scotland has followed England’s lead and is
moving to temporarily extend the limit after which landlords can evict a
tenant.
Kevin Stuart, the country’s housing minister, has written an open letter to all
Scottish landlords and letting agents asking them for their support to ensure
tenants are not evicted because they have suffered financial hardships due to
Coronavirus.
“I hope that you will recognise at this challenging time
that landlords must be flexible with tenants facing financial hardship and
signpost them to the sources of financial support available,” he says.
Currently, landlords can move to evict if a tenant is in arrears for at least
three months in a row, but this is to be extended to six months.

“Let me be clear we do not want private sector landlords to be disadvantaged by a lack of rent,” says First Minister Nicola Sturgeon.
“However, the reality of what we face means that if landlords don’t support their tenants, then it’s not just the tenants who will be negatively impacted, it will be all of society who will have to collectively pay for the price.”­­ Kevin Stuart said: “I know that we must get the balance right between protecting tenants and ensuring landlords can continue to provide housing.
“We would ask you to urge your tenants to apply for Statutory Sick Pay and Universal Credit where they are eligible.
“And we would also urge you to encourage them to speak to you as soon as they are in financial difficulty as it may mean that they are unable to pay their rent at this time.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Scotland doubles down on English Coronavirus-linked evictions ban | LandlordZONE.

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North West council get green light for expanded licensing scheme despite landlord opposition

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Wirral Council is to renew its four existing selective licensing areas and add two new ones, which will now cover nearly 150 roads in the area.

Wirral Council (pictured) has been given the
green light to renew and expand its selective licensing scheme from four to six
areas.

The Council has renewed four existing
selective licensing areas – Birkenhead South, Egerton North, Egremont Promenade
South and Seacombe Library – that were due to expire at the end of June but also
extended the scheme to include Egremont South and Tranmere Lairds.

It says these areas were chosen because of poor property standards. The existing five-year selective licensing scheme has brought in nearly £840,000 for the council from 1,300 licences, which has helped fund 50 landlord prosecutions.

Landlords in these areas will now have to pay
£645 for a five-year licence in order to lawfully rent out their property;
those who already have a licence in one of the re-designated areas will need to
reapply. The scheme takes effect on 1^st July 2020
and will last until 2025.

The Residential Landlords Association had
opposed the proposal during Wirral Council’s consultation, highlighting the
fact that it already had the necessary tools to tackle poor housing management,
including the ability to issue civil penalty notices and banning orders. It also
raised concerns about the fee structure.

Landlords can also get a £100 discount for
applications submitted within three months of when the scheme starts, or within
three months of buying a property in the licensing area.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – North West council get green light for expanded licensing scheme despite landlord opposition | LandlordZONE.

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