Debunking Common Property Tax Myths

admin    Uncategorized     agents

Welcome to the pilot of ‘The Property Tax Show’ where myself and Tax Consultant Alex Norian From Property118 will be debunking common myths and misconceptions from all areas of property tax.

If you have something you want to be covered in a future episode

View Full Article: Debunking Common Property Tax Myths

Council forgoes civil financial penalty in pursuit of Banning Order

admin    Uncategorized     agents

Despite announcing in 2018 that they were now pursuing landlords for failure to licence HMOs and breaches of HMO Management Regulations under the civil penalty regime, (see £16,000 fine given for non-licence HMO”) the local authority has instead taken this “Rogue” landlord to court where there was only a small £4,808 fine.

View Full Article: Council forgoes civil financial penalty in pursuit of Banning Order

EPC reports urgently need upgrade to be ‘relevant’ says leading specialist

admin    Uncategorized     agents

A long-overdue shake up of Energy Performance Certificates (EPC) should focus equally on energy consumption, cost and carbon emissions to make them more relevant, according to the UK’s largest accreditation scheme for energy assessors.

Elmhurst Energy also believes EPCs’ validity period should be cut from 10 to three years and re-issued whenever there is a change to the building which impacts its energy performance.

EPCs haven’t been updated since they were introduced in 2007 and last November the government published its EPCs for Buildings Action Plan which identified improvements to their efficiency and effectiveness.

It’s hoped that there will be an update this year but, in the meantime, Elmhurst has mocked-up a new style of energy report (see main pic), displaying estimated energy (kWh), carbon emissions (kg), and energy cost (£) used by each property, along with other improvements.

Funding mechanism

Elmhurst also suggests expanding and updating energy assessment methodologies to address the energy used to cool buildings as well as changing the funding mechanism in the government’s Energy Company Obligation programme so that it supports the whole house retrofit approach, including upfront assessments and planning to ensure the right improvements are made in the right order. 

Elmhurst MD Stuart Fairlie (pictured) says once EPCs are updated, governments can align regulations to the relevant metric, so that policy initiatives to tackle fuel poverty can focus on cost, while initiatives on reducing energy use could be measured by energy consumption, and climate change regulations could be based on a measurement of carbon emissions.

“Not since the 1970s has the UK had so many concerns about the price of energy and security of supply,” says Fairlie.

“Thankfully, unlike the 1970s, we have many of the carbon-reducing, fuel bill busting, energy efficiency solutions at our fingertips, if only we could implement them nationally. These changes feel more urgent than ever before.”

Read: Ultimate guide to the MEES and EPC regulations.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – EPC reports urgently need upgrade to be ‘relevant’ says leading specialist | LandlordZONE.

View Full Article: EPC reports urgently need upgrade to be ‘relevant’ says leading specialist

Can tenant claim disrepair when they have got kitchen in this state?

admin    Uncategorized     agents

An elderly (aged 80), long standing tenant told me on Thursday that she needs work done in her kitchen and I said I would get my builder to see what could be done.

Then I looked in the kitchen – there were dirty dishes stacked around and in the sink.

View Full Article: Can tenant claim disrepair when they have got kitchen in this state?

Guidence to strengthen the information available to fire and rescue services for new high-rise homes

admin    Uncategorized     agents

New improvements to fire safety guidance and building regulations to ensure tall buildings are made safer in England have been introduced as part of a wider package of reforms. The changes meet recommendations from Phase One of the Grenfell Tower Inquiry and will strengthen the information available to fire and rescue services.

View Full Article: Guidence to strengthen the information available to fire and rescue services for new high-rise homes

Can Council Tax be clawed back from past tenants for banding error?

admin    Uncategorized     agents

Some of my tenants have just moved and have forwarded across the Council Tax bill to confirm payments up to the end of the tenancy. However, on the paperwork, I have noticed that the Council Tax bill has been wrongly billed to band A and not band C as it should be for this property.

View Full Article: Can Council Tax be clawed back from past tenants for banding error?

LATEST: Landlords reveal candid views on letting agency service and fees

admin    Uncategorized     agents

Landlords have given their candid views on letting agents to a new poll, revealing mixed views on the levels of service, fees and charges they face.

Total Landlord Insurance says that while just over half of landlords are happy with the service provided by their agent, 42% believe their agent charges too much and 16% have had additional charges made without any forewarning. 

The survey of 1,205 UK landlords commissioned by the insurance broker, which is part of the Hamilton Fraser group, found that 57% of landlords believe the fees they are charged by their letting agent are fair, but 42% believe they charge too much.

Turning to quality, 56% rated the service provided by their letting agent as above average to excellent, while just 18% stated it was below average to poor. 

Also, two-thirds of landlords said they had never experienced a late rental payment, with the majority of those who had (33%) saying it was the fault of the tenant or another issue such as banking or technical problems.

Just 5% have had to wait for their rental income as a result of their letting agent. 

Landlords also said they were concerned about unexpected deductions from their rental income by agents, with 16% revealing they had experienced that.

The most common reason given was for maintenance work on the property carried out by the agent’s contractors, with additional management fees, a gas certificate, electrical safety checks and tenant finding fees also ranking high. 

Contentious issue

“I’m not entirely surprised by these results,” says Eddie Hooker (pictured), CEO of the Hamilton Fraser Group.

“Fees are always going to be a contentious issue, especially in the current climate, with many landlords still struggling financially from the impact of COVID on their tenants and added to this, now the cost of living crisis. Many landlords have unfortunately had to foot the bill.

“However, while some landlords may feel that the fees charged by their letting agent are too high, this survey shows that the majority do believe they pay a fair price.

“This is undoubtedly due to the perceived value they feel their agent brings and there’s no doubt that the quality of service provided is an area the industry has improved on in recent years.

“Despite this, misunderstandings do still happen and one of the most prominent complaints we receive from landlords through the Property Redress Scheme is unexpected charges made to them by their agent.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Landlords reveal candid views on letting agency service and fees | LandlordZONE.

View Full Article: LATEST: Landlords reveal candid views on letting agency service and fees

BREAKING: Number of properties to rent has halved since 2019, say agents

admin    Uncategorized     agents

Shocking research has been released this morning revealing how the extraordinary extent to which the government’s assault on the private landlords has reduced stock, helping push up rents.

Propertymark says the number of properties available to rent through letting agents in March halved between 2019 and 2022.

During the same four-year period, 94% of landlords who removed their property from the rental market did so to sell it. And over half of rental properties sold in March this year did not return to the private rented market.

“Our research presents a worrying picture for private renters,” says Nathan Emerson, CEO (pictured).

“The number of properties available to rent has been diminishing with a large portion of landlords choosing to sell their properties.

Root cause

“A lack of property is the root cause for rent increases and rising figures on social housing lists.

“We know from our qualitative research that the most common reasons for landlords to choose to sell their properties and no longer provide homes are around risk, finances and viability.

“Landlords and letting agents have been the subject of extreme legislation changes as the UK Government tries to improve the sector. “However, without a middle ground, these changes are actually proving detrimental to those they are supposed to protect.

“Sadly we do not see this improving as the sector braces itself for more changes within the anticipated Renters’ Reform Bill and upcoming energy efficiency targets.”

The news has made national headlines with the BBC leading on the research within its news bulletins today, featuring LandlordZONE regular and leading Nottingham landlords Mick Roberts.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: Number of properties to rent has halved since 2019, say agents | LandlordZONE.

View Full Article: BREAKING: Number of properties to rent has halved since 2019, say agents