Mandatory to register non-taxable trusts with HMRC’s Trust Registration Service?

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If you hold a property as a nominee on behalf of another person or company, it may be mandatory to register this trust with HMRC’s Trust Registration Service (TRS) by 1 Sept 2022. Previously, non-taxable ‘bare trusts’ did not need to be registered.

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NEW: London prepares legion of housing officers to tackle rogue landlords

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A legion of housing enforcement officers is being trained up to bolster London’s fight against rogue landlords, with plans to roll out the scheme across the UK.

The first cohort is studying at Middlesex University for a new level five, 12-month housing enforcement qualification – Private Sector Housing Interventions – which takes people with little or no housing experience in environmental health or PRS housing and equips them to carry out the duties of a PRS enforcement officer.

The course has been set up jointly by the Chartered Institute of Environmental Health (CIEH) and Mayor of London Sadiq Khan to address the lack of qualified and experienced staff following years of cuts in local authorities.

Landlords regularly voice their frustration when this translates into councils struggling to police licensing schemes.

Khan is funding the programme, which is only open to London councils, but if successful, could be rolled out nationally.

Mediate disputes

He wants to see tougher penalties for rogue operators and says: “This new qualification will give councils across London the workforce and expertise to mediate disputes, enforce standards and crackdown= on the rogues who give the many honest operators in the sector a bad name.”

Dr Alan Page (pictured), associate professor of environmental and public health at Middlesex University, adds: “These students will add really able practitioners to London enforcement teams and thereby increase capacity to improve the sector and the life circumstances of tenants.”

CIEH has been trying to generate more interest in the environmental health profession through social media campaigns and has also called on Chancellor Rishi Sunak to create a national apprenticeships fund for local authorities, to help them fund the cost of training more environmental health practitioners.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – NEW: London prepares legion of housing officers to tackle rogue landlords | LandlordZONE.

View Full Article: NEW: London prepares legion of housing officers to tackle rogue landlords

Landlords fight criticism and highlight huge costs of evicting lawless tenants

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A large regional landlord association has launched a campaign to highlight the expensive problems many buy-to-let investors face when tenants go rogue.

The Eastern Landlord Association says it wants to tell the other side of the story after the region’s newspaper revealed that some 10,000 complaints have been made by private tenants to Suffolk council about their property or landlord over the past five years.

Chairman John Pitts has hit back telling The East Anglian Times that instead of being blamed for poor standards, private landlords should be incentivised to provide housing stock, given the shortage of affordable council homes.

Commenting on recent research by trade body Propertymark which found that 20% of landlords are considering selling all or part of their portfolios during 2022, Pitts said if such predictions were true then it would ‘catastrophic’ for tenants.

Rogue tenants

The association has also highlighted several landlords in the region who between them have lost tens of thousands of pounds in repairs and court costs after rogue tenants damaged their properties or stopped paying the rent.

This includes Terry Baccus, a landlord with three properties in the region who, after tenants trashed a terraced house of his in Lowestoft, says existing eviction rules do not give small landlords like him enough protection from rogue renters.

He found that the tenants, who deliberately flooded the kitchen of the property once it became clear they would be evicted, had been paid their Universal Credit rent direct via the DWP but had not passed it on for nearly two years, despite being given a rent reduction by Baccus to help them manage their bills. The property is now on the market after Baccus vowed that ‘enough is enough’.

Picture credit: Terry Baccus.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlords fight criticism and highlight huge costs of evicting lawless tenants | LandlordZONE.

View Full Article: Landlords fight criticism and highlight huge costs of evicting lawless tenants

Local Authorities using Credit Checking to Trap You and Identify Your Tenants

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It has come across my desk from more than one local authority and in multiple cases that the Council is checking information with Consumer Credit Reference Companies as part of their enforcement, and they are not making a secret of it!

View Full Article: Local Authorities using Credit Checking to Trap You and Identify Your Tenants

Sadiq Khan calls for a 2 year Private Rents freeze

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The Mayor of London, Sadiq Khan, is calling on Government to give him the powers to freeze private rents in the capital for two years to save rent for thousands of Londoners, but no help for Landlords, struggling to cope with the rocketing cost of living.

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LATEST: Has the John Lewis rental property plan stalled?

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John Lewis has insisted it is still focused on becoming a major residential landlord, despite first announcing the idea nearly 18 months ago.

Its Partnership Plan aims to transform the business and promises that in this financial year it will invest in John Lewis shops, its website and distribution as well as “continuing to develop and progress our property rental proposition”.

John Lewis first revealed plans to build 10,000 rental homes over the next decade back in October 2020 but senior leadership roles for the project were still being recruited for late last year, according to one leading property jobs agency.

The retailer identified space in its car parks, above Waitrose supermarkets and near distribution centres for about 7,000 rental homes ranging from studio flats to four-bedroom houses where tenants would have the option of renting accommodation that is fully furnished with the chain’s own household furnishings, or providing their own.

Further detail

But the lack of any further detail since then seems to indicate that the plan is proving to be more complicated than first thought.

The beleaguered retailer suffered substantial pre-tax losses of £26m in the last financial year (compared to its £491m loss the previous year) despite profits rebounding by 38% off the back of its highest ever sales of £4.93bn, which increased 8% like-for-like.

Staff bonuses have been reinstated as a result, but John Lewis has admitted its profit margins were hit by restructuring and exiting property leases as it sold off eight stores and a delivery hub, as the business focuses on online shopping.

If they ever get off the ground, the initial residential developments are planned for South East England, but the partnership believes there are opportunities across the country.

Read its results in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Has the John Lewis rental property plan stalled? | LandlordZONE.

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Khan claims rent controls to cut landlord income by £3,000 during first years of scheme

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The Mayor of London Sadiq Khan has claimed that rent controls would save tenants £3,000 during the first two years of the scheme, if his plans are given the green light.

But the Labour mayor’s calculations are wishful thinking – so far Conservative central government has ignored his previous calls to be given rent control powers.

Nevertheless, the latest figures from Khan’s office reveal the likely reduction in rental income that landlords could face should a change in political power within Westminster take place, particularly as his latest call as the backing of campaigning group Generation Rent.

The organisations, along with Shelter, holds considerable sway in the corridors of Whitehall where renters’ voting power increasingly checkmates landlords’ concerns.

Khan’s new figures are based on rent inflation predictions by estate agency Savills, which reveals that that freezing private rents for two years would save Londoners on average a total of £2,988 across both years including £881 in the first year and £2,107 in the second.

His calls for rent controls are backed up by the cost of living crisis facing many tenants as inflation and in particular energy costs spiral upwards.

Devastating combination

“Private renters make up nearly a third of everyone living in the capital and they are set to be hit by a devastating combination of price and bill rises. Too often the needs of private renters are ignored by both landlords and the Government,” he says.

“Rising fuel and energy costs – which will hit renters in energy inefficient homes the hardest – are already causing anxiety and stress, with a big rise in the energy price cap due next month.

“That’s why today I’m calling on ministers to give me the powers to stop rents rising in the capital and help me to give people a chance to get back on their feet after the pandemic.”

NRLA reaction

Ben Beadle (pictured), of the National Residential Landlords Association, says: “A rent freeze would be disastrous for the private rented sector. At a time when costs are rising sharply and will continue to do so with extra spending needed for energy efficiency upgrades and higher mortgage rates, all it would do is drive more landlords out of the market.”

Read more about rent controls.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Khan claims rent controls to cut landlord income by £3,000 during first years of scheme | LandlordZONE.

View Full Article: Khan claims rent controls to cut landlord income by £3,000 during first years of scheme

My Open Letter to Shelter who are calling for Section 21 to be banned & prosecuting Landlords who don’t take Benefit tenants

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Shelter are doing webinars on: The Renters’ Reform Bill Q&A session is scheduled for 30 March 18:30 – 19:30 and will be run over Zoom Click here

Rebalancing the rights and responsibilities of tenants and landlords.

View Full Article: My Open Letter to Shelter who are calling for Section 21 to be banned & prosecuting Landlords who don’t take Benefit tenants

A guarantor is responsible for the rent and ALL the responsibilities of the tenant?

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Having now given a tenant over 5 months’ written notice to vacate with a section 21 via a professional serving company, the time will be arriving next month for her to vacate. I doubt very much she will leave as the local rental market does not have many properties that would accommodate her.

View Full Article: A guarantor is responsible for the rent and ALL the responsibilities of the tenant?