Do HMRCs’ manuals contradict themselves? – Property118 TV

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In this episode Mark Alexander joined by Mark Smith, Head of Chambers at Cotswold Barristers, to discuss how HMRC’s manuals might be perceived to contradict themselves in relation to definitions on whether or not rental property owners are regarded as running a business.

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Let’s get back to renting properties, agent tells the nation on TV

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London lettings agent Marc von Grundherr tells the BBC Breakfast show that he’s relieved the market lockdown has been lifted, but worries the ongoing pandemic may spook renters into staying put.

Letting agents and landlords are relieved to see the private rental market begin its path to revival after a seven week hiatus that many feared would drag on into June following last Sunday’s speech by Boris Johnson.

This was the view of a leading letting agent featured on TV this morning, who said he and his sector were poised to help many of the thousands of renters whose plans were held up by the lockdown.

Speaking on BBC Breakfast, Marc von Grundherr, director of Benham
and Reeves lettings agency in London, said lifting the ban on property viewings
was hugely exciting for the industry. “The property market
has been in suspended animation for the last few months – this is great news,”
he said.

With 450,000 renters and buyers poised to move
home, he said there was a huge amount of pent-up energy.

“This week we’ve had enquiries from people
wanting to move…they don’t just want to move, they need to move. We’re hoping
to be open in the next day or so and trying to move people into homes.”

However, although his agency has PPE equipment, von Grundherr
warned that the industry needed to proceed with caution in order to stick to
guidelines on social distancing and questioned whether viewings could still go
ahead if tenants were socially isolating.

“It’s easy to do viewings in empty properties and
respect social distancing but where people are occupying…there’s still unease,
we’re still wary of people living in properties.”

While March – post-Brexit – had been Benham and Reeves’ busiest month on record, with rising rents, searches have still been going on.

Watch the clip

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ANALYSIS: Rental market re-opens but what happens next for landlords?

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The unfreezing of the private rental market has been welcomed enthusiastically by all the key players but there are challenges ahead as the crisis continues to disrupt many aspects of the lettings process including viewings, referencing and evictions.

Landlords and other players in the private rental market have welcomed the re-opening of the housing market and the much-anticipated green light for people to move home freely within both the sales and lettings sectors.

The government today estimates that there are 450,000 homes moves wating to happen which were delayed by the sudden arrival of the Coronavirus pandemic, many of which are tenants looking to move home.

Ben Beadle, Chief Executive of the National Residential Landlords Association, says: “Tenants will now be able to look for a new home and move into it whilst those landlords who have unexpectedly faced empty properties will be able to put them back on the market.

“It is vital though that all viewings and house moves take place safely and in line with the Government’s guidance. We will continue to work with the Government, landlords and others to ensure that the risks of spreading coronavirus are minimised.”

But the revival of the market is not going to return the rental market to normal conditions, almost all commentators that LandlordZONE has spoken to.

Referencing

“I think one of the biggest issues going forward is going to be referencing,” says Paul Shamplina of Landlord Action.

“Landlords are going to more nervous about taking on tenants when the lockdown is continuing to make job and financial security much less certain for millions of renters.”

Shamplina also believes the re-start of the market will see a flood of new rental stock entering the market and that this is likely to push down rents in the short to medium term. “There is going to be a rush of Airbnb landlords joining or re-joining the long-term rental market because the holiday short-lets market will remain closed for several months,” he says.

“Also, properties that have stood empty during the crisis can now be marketed again.”

But Shamplina wouldn’t be drawn on whether the early restart for the market might persuade the government not the extend the current evictions ban, which runs out next month.

“If there is a further extension of the ban if could be catastrophic for landlords who currently have cases going through the court system,” he says.

“But think overall landlords will be relieved that the market has restarted because on an unofficial level it will enable some to cut deals with non-paying tenants and agree a parting of the ways so that new tenants can be found, something which was hard to do until now during the lockdown.”

Buy-to-let

Nevertheless, buy-to-let investors may view the current situation as an opportunity, says Steve Olejnik, managing director of Mortgages for Business.

“We expect a temporary, short-term fall in prices across London and the south east in the region of about 15%, so there’s no question that if you invest in bricks and mortar now, with a bit of haggling during the process, you are going to see a lot of long-term capital growth. I think values will be back at February 2020 levels by the spring or summer of next year.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – ANALYSIS: Rental market re-opens but what happens next for landlords? | LandlordZONE.

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Covid-19 lockdown tenant vacating advice please?

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My tenant, under a Periodic Tenancy for her room and communal areas of the flat, is saying “I do have the means in which to be able to give you vacant possession by removal of my furniture and personal possessions.” She hasn’t yet qualified exactly what she means though.

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Today in politics: Housing market reopens, plus questions on council tax, repossessions and new coronavirus report

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We look at MHCLG’s decision to reopen the housing market, IPPR calls for a rent freeze and questions on council tax and repossessions.  Housing market opens up again From today anyone in England can move home if they follow new guidance published by Housing Secretary Robert Jenrick MP. MHCLG has said that since lockdown restrictions were […]

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BREAKING: This is how viewings can be completed now that the rental market is up and running again

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Department of Housing published its definitive list of guidance and rules for landlords or letting agents who want to rent out a property now that home moves are permitted once more.

The government has issued more detailed guidance to landlords after it was revealed yesterday that the private rental market could re-open for business today.

Its guidance stresses that tenants’ safety should be letting agents’ and landlords’ priority, and gives advice on to help them safely let empty properties or properties that tenants have agreed to vacate for a few hours while viewings take place.

“While broader measures to protect tenants during the coronavirus outbreak remain in place, letting agents and landlords should endeavour to avoid ending tenancies where the tenant wants and is able to stay,” the government says.

Ministers have also released an eight-point checklist for landlords and letting agents to consider before renting a property. These are:

• Private landlords and letting agents should not conduct viewings in properties where tenants are symptomatic or self-isolating, or where it has been determined that they are clinically extremely vulnerable and are shielding.
• In other cases, where viewings can proceed, they should be conducted in line with Coronavirus guidance – including keeping two metres’ distance during viewings, providing hand washing facilities to those visiting a property and keeping doors and windows open.
• If possible, necessary repairs, gas and electrical safety checks should be conducted in the period between a property being vacated and a new tenant moving in. If this is not possible and visits are needed to an occupied property, this should be done by appointment with measures put in place to ensure physical contact is minimised, for example with residents staying in another room during the visit.
• Landlords should make every effort to abide by gas and electrical safety requirements, which continue to be of great importance for tenants’ safety. This may be more difficult due to restrictions associated with the coronavirus outbreak, for example where a tenant has coronavirus symptoms, is self-isolating or shielding. Under such circumstances, provided the landlord can demonstrate they have taken reasonable steps to comply, they would not be in breach. See further Health and Safety Executive guidance on how to deal with specific circumstances. Letting agents may also want to consider obtaining landlord and tenant consent for inventory clerk appointments to also occur before a tenant moves in or after a tenant moves out during vacant periods if possible.
• Letting agents and landlords should take steps to ensure any properties are prepared ready for new tenants, this may include cleaning to minimise any potential spread of the virus in line with government advice.
• Letting agents and landlords should consider how best to conduct tenancy check-ins for new tenancies agreed while broader measures remain in place, taking care to follow government advice on social distancing to minimise possible spread of coronavirus.
• Letting agents and landlords are reminded of the temporary COVID-19 measures that adjust right to rent checks, temporarily allowing these checks to be conducted remotely. Lettings agents and landlords should consider other areas where in person payments, referencing or checks can be conducted remotely instead and take further advice if required.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: This is how viewings can be completed now that the rental market is up and running again | LandlordZONE.

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Government safety advice for moving home during Coronavirus emergency

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The government has amended the coronavirus regulations to make clear that people who wish to move home can do so. The guidance provides important public health information to ensure that moving home and key activities around this, such as viewing property

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Housing market reopens from today

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The government has relaxed emergency Covid-19 rules to allow the housing market to reopen. From today anyone in England can move home if they follow new guidance published by Housing Secretary Robert Jenrick.

With immediate effect Estate and Letting agent offices can open

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Landlords ARE helping tenants in trouble and Generation Rent research is wrong, says NRLA

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Association chief Ben Beadle says claims that two thirds of landlords who have been asked by tenants for financial help have rejected them are wide of the mark.

The UK’s largest landlord association has
rejected claims by Generation Rent that two thirds of landlords are refusing to
help tenants struggling financially during the lockdown.

This claim by the campaign group has been made this morning but has prompted the National Residential Landlords Association (NRLA) to quickly reject the claim, saying that its survey of landlords paints a starkly different picture.

NRLA Chief Executive Ben Beadle says 90% of some 4,500 landlords it canvassed recently who had received a request from their tenant for help had granted it.

This included agreeing a rent reduction, deferral or waiver while others had released tenants early from their contracts and given them refunds on service charges.

Of the landlords surveyed, 44 per cent had been asked for help by at least one tenant.

“While many tenants have been able to continue paying their rents in full and on time, in accordance with Government advice, we recognise the strain that many others are under at this difficult time,” says Beadle.

“That is why it is good news that, as our research shows, nearly all the landlords approached for help by their tenants are responding positively.

“With no direct support aside from a mortgage deferment, landlords are playing their part to avoid unnecessary anxiety for tenants and our figures show that the vast majority of tenants and landlords have a good relationship with each other.”

Read our latest Landlord Hero of the Week interview.

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Landlords offering widespread support to tenants

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Tenants’ rights group Generation Rent is wrong to claim the majority of landlords are failing to support tenants needing help during the Covid-19 pandemic. A yet to be published survey by the National Residential Landlords Association of over 4,500 landlords has found that 90 per cent of landlords who had received a request for support […]

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