DWP have more holidays than Tamara Ecclestone and will delete your emails!

admin    Uncategorized     agents

Tenants, another reason why you are homeless – DWP have more holidays than Tamara Ecclestone.

More reasons below why Landlords/Letting Agents are refusing Benefits tenants. Shelter, please talk to us. With your help & force & Media on your side

The post DWP have more holidays than Tamara Ecclestone and will delete your emails! appeared first on Property118.

View Full Article: DWP have more holidays than Tamara Ecclestone and will delete your emails!

LATEST: Scots government considers ‘ill thought-through’ rent controls bill

admin    Uncategorized     agents

The Scottish government is working through hundreds of submissions to its consultation on Labour MSP Pauline McNeill’s Fair Rents (Scotland) Bill, which finished this week.

It received more than 200 responses, which McNeill says shows a real appetite to fight unfair and unaffordable rents.

The Scottish Labour housing spokesperson adds: “The pandemic has made an already bad situation worse in terms of housing affordability. It’s time that the other parties listened to Scottish Labour and the voices of these respondents and back the bill.”

The bill would cap rent rises at 1% above inflation and give renters protection against excessive or unfair rent increases. Private landlords would also be made to enter the monthly rent and other detailed information into the Scottish Landlord Register.

Halted

A previous attempt to get it through parliament was halted by the local government and communities committee in August, which blamed its failure on a heavy workload. The process was re-started in October.

The Scottish Association of Landlords believes the proposals could lead to higher and more frequent rent increases as well as a shortage in the supply of homes.

It fears the bill would act as a disincentive to landlords considering reducing the rent below the open market level in order to attract new tenants or help existing tenants who are in financial difficulty.

Chief executive John Blackwood (pictured) tells LandlordZONE it hasn’t been properly thought through. “We dispute the need for a rent increase cap as the majority of landlords don’t currently increase their tenants’ rent mid tenancy.”

He adds: “We are particularly concerned that it proposes preventing a landlord from increasing the rent within 12 months of an order from the rent officer setting the rent. The tenant would simply need to apply to the rent officer once a year for a determination of a fair rent.”

Rural business organisation Scottish Land & Estates has also opposed the bill.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Scots government considers ‘ill thought-through’ rent controls bill | LandlordZONE.

View Full Article: LATEST: Scots government considers ‘ill thought-through’ rent controls bill

Landlords, lettings and deposits – expert advice from Hamilton Fraser

admin    Uncategorized     agents

Eddie Hooker, CEO of Hamilton Fraser, Paul Shamplina, Founder of Landlord Action. Special guest Daniel Lee, Mortgage Broker at Total Landlord Mortgages.

Hamilton Fraser’s Property Podcast returns for another episode of the popular ‘Landlords, lettings and deposits’ series. Each episode offers expert advice on the key topics impacting landlords and features a special industry guest sharing their unique market insight.

In the latest episode of Hamilton Fraser’s Property Podcast, ‘Landlords, lenders and mortgages – how can you secure the best deal?’, Eddie Hooker, CEO of award winning Hamilton Fraser Total Landlord Insurance and Paul Shamplina, Founder of Landlord Action and Brand Ambassador at Hamilton Fraser, are joined by special guest Daniel Lee, a Mortgage Broker at Total Landlord Mortgages, Hamilton Fraser’s latest venture.

Total Landlord Mortgages, in partnership with financial advice firm Legacy Financial Consultants, is backed by Openwork, one of the largest financial advice networks in the UK and offers landlords exclusive mortgage rates.

With over 20 years’ experience in the industry, Daniel explains the importance of finding the right financial solution for your unique needs and how using a specialist insurance broker can help you to achieve this, as well as how to access the right lenders for you. He also discusses responsible lending and why having a long term, rather than short term, view of the property market can give you the edge.

Eddie, Paul and Daniel also explore the property market buoyancy in the wake of COVID-19 and how, despite some challenges caused by the pandemic in relation to lending, demand is still strong.

Don’t forget to listen out for brand new episodes of Hamilton Fraser’s Property Podcast with new special industry guests every episode!

Missed the previous podcasts in the series? Don’t worry, you can catch up with industry news here!

Previous guests include:
• Steve Bowen, Mediator at the Property Redress Scheme and experienced landlord
• Jonathan Schuman, established portfolio landlord and Owner of Magnet Properties
• Ben Beadle, Chief Executive of the National Residential Landlords Association (NRLA)
• Matt Hooker and Nick Hamatsos, Co-Founders of Ome, a new breed of deposit replacement scheme
• Sean Hooker, Head of Redress at the Property Redress Scheme
• Kate Faulkner, market analyst, commentator and co-author of ‘The Landlord’s Friend’
• Tessa Shepperson, residential property lawyer and Managing Director of Landlord Law

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlords, lettings and deposits – expert advice from Hamilton Fraser | LandlordZONE.

View Full Article: Landlords, lettings and deposits – expert advice from Hamilton Fraser

LAUNCH: New app transfers whole renting process to tenants’ smartphones

admin    Uncategorized     agents

Tenants can read their tenancy agreement and request repairs using a trailblazing new app.

Automated lettings platform PlanetRent’s native tenant app aims to simplify the lettings process as well as cut costs and reduce admin time by connecting landlords, tenants, agents, contractors and accountants, and letting them access information.

Tenants can find important documents on it, including their tenancy agreement and inventory checklist, along with the floorplan and utility records.

They can also log repairs and maintenance requests directly through the app rather than contacting their agent or landlord, who can then use it to notify the tenant when they’ve finished any work.

The app was developed by residential property consultancy, Ringley Group, which believes it’s the first of its kind. The firm has invested more than £2m in creating tech products for the property market and aimed to help agents and landlords meet social distancing requirements when it launched PlanetRent in March.

The platform allows documents to be accessed virtually and enables contracts to be generated in seconds so they can be e-signed by landlords, tenants and agents.

Mary-Anne Bowring, Ringley Group MD (pictured), says this new tenant app helps renters do everything on the move.

She adds: “With another lockdown or further social distancing restrictions imminent, the ability to work remotely and seamlessly while minimising human contact will be crucial and PlanetRent will help landlords, agents, contractors and tenants do exactly that.”

Read about other property management smartphone apps.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LAUNCH: New app transfers whole renting process to tenants’ smartphones | LandlordZONE.

View Full Article: LAUNCH: New app transfers whole renting process to tenants’ smartphones

The Christmas hazards for landlords…

admin    Uncategorized     agents

Especially this year, when people are confirmed to their homes, there is less chance to socialise and “let off steam” in pubs and restaurants, families are confined, and coming together over Christmas can easily degenerate in to family arguments.

The best case means that these are soon patched up, and all is forgotten, but in the worst case it means family break-ups, separation and divorces.

Any experienced landlord will tell you that January means couples split up, which brings with it complications with their tenancies. Either both parties leaving, or one leaving and one staying. If it’s a joint tenancy, then it ends when one party leaves. The landlord must decide whether to grant a new tenancy to the one remaining party – can that party afford the rent on it’s own is the big question?

Where the tenancy is in the name of one party, then further complications arise when a remaining tenant is not on the tenancy agreement. Again the landlord is faced with a similar decision; does the landlord issue a new tenancy and can that party afford the rent?

On the other hand, when families split opportunities arise for landlords, as a single household now becomes two, and twice as many properties are needed. I have rented out many a flat after Christmas to a single splitter, even had one case where a tenancy was signed and it was never fulfilled or the property occupied throughout the six month term, because the couple got reconciled and moved back in together.

The second concerning issue with Christmas, for landlords, is money. People get carried away with their spending, they simply throw caution to the wind to buy what they think family deserve in terms of presents or booze. It’s not until those credit card bills start hitting the mat in January that the real hangover begins, the pain of realising just how much has to be paid back.

It’s then that rent arrears can start to rack-up. The first the landlord knows about it is when that rent payment does not appear on their bank statement, or the cheque fails to arrive, but as Neil Cobbold, Chief Sales Officer at automated payments provider PayProp, says:

“Since March, increasing limitations on property possession claims through the courts have made 2020 a difficult year for landlords and letting agencies to deal effectively with serious issues such as rent arrears.

“The scant supply of repossession options will continue over the coming weeks due to an extended Christmas evictions truce between December 11 and January 11 2021, with no enforcement action allowed in England until January 25.”

The tendency during the festive period for rent arrears to build-up pushes many landlords into pursuing eviction through the courts, but this year their options are more limited than usual.

Landlords need to look to alternatives to eviction. Communication is the key wherever possible, and though there is a distinct tendency for tenants to “go to ground” when in arrears, a big effort should be made by landlords to offer help and reassure, after first investigating and perhaps using an independent intermediary resource, such a professional letting agent or mediation.

Letting agents can help by effectively and proactively managing communication between landlords and tenants, either preventing or reducing arrears through effective reminders or organising affordable repayment plans.

By digitally recording all payments and automating arrears chasing and employing the services of a dedicated eviction expert, agents and landlords can better navigate the changing rules during this trying period.

Next year, the prospect of a successful COVID-19 vaccine rollout and the financial support provided by an extension to the furlough scheme could improve the situation and pave the way for more normal eviction avenues to resume, says PayProp.

“However, there will still be challenges ahead as the minimum notice period for evictions (except for the most serious cases) remains at six months until March at the earliest. Meanwhile, there will also be the renewed prospect of Section 21 being scrapped as part of the Renters’ Reform Bill, further curtailing options.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – The Christmas hazards for landlords… | LandlordZONE.

View Full Article: The Christmas hazards for landlords…

New How to Rent Guide for Landlords and Tenants

admin    Uncategorized     agents

Thursday 10 December 2020 MHCLG has published an updated version of the How to Rent Guide (England). This guide sets outs the rights and responsibilities of both Landlords and Tenants within the private rented sector.

Landlords

The post New How to Rent Guide for Landlords and Tenants appeared first on Property118.

View Full Article: New How to Rent Guide for Landlords and Tenants

How Bradford’s Simmy Sekhon went from a row of tatty shops to a property empire

admin    Uncategorized     agents

Simmy Sekhon loves to spot development opportunities and bring disused buildings back to life – just as he did when he started out in the property business as a university student.

From spending £21,000 on his first buy-to-let investment – a block of six shops in Bradford which had seen better days – the boss of the Sekhon Group now has £60m worth of residential and commercial properties in the Bradford, Wakefield and Huddersfield areas.

“I wasn’t keen to buy those shops but my father lent me £9,000, saying, ‘Where’s there’s muck, there’s brass’, so I spent about £3,000 doing them up, then put a sticker in the window advertising them to let for £25 a week – all six were rented within 48 hours,” he tells LandlordZONE. “Three months later the building was valued at £78,000.”

Having caught the property bug, Simmy was soon at the bank asking how much he could borrow and his next investment was another four down-at-heel shops which he put new fascias on and quickly rented out.

Rest is history

By 21, he’d made a £257,000 profit and says brightly: “The rest is history! I carried on using the same formula and not long afterwards bought a former council building, negotiating the price down from £250,000 to £170,000 for re-development. That really launched me.”

After qualifying as a solicitor, Simmy had his own practice for years but carried on investing and now has a staggering 850 tenants.

His ethos is to buy cheap where he knows he can add value, often converting former corporate buildings into apartment blocks.

He continues to focus on Bradford which he reckons is the next property hot-spot, explaining: “You can buy very effectively with the right money – conversion costs are relatively low and there’s a good labour force.”

Having gone from investor to developer he now wants to introduce property to others by providing joint-venture opportunities to high net individuals.

Top tips?

But if that’s out of reach, does he have any tips for other landlords? “Search hard – you’ll eventually find what you’re looking for, even if it takes ten viewings,” he says.

A keen philanthropist and positive person, Simmy doesn’t see any negatives in the Yorkshire property market, although will admit that planning departments can be tricky.

But he advises that even they can be won round: “If you’re transparent, you work hard and show them you’re serious.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – How Bradford’s Simmy Sekhon went from a row of tatty shops to a property empire | LandlordZONE.

View Full Article: How Bradford’s Simmy Sekhon went from a row of tatty shops to a property empire

Residential tenancy taken out by my company director who has left?

admin    Uncategorized     agents

Hi there, I have a question regarding a rental lease taken out by my company naming me as the tenant.

The particular director who authorised the lease has since resigned. The rent hasn’t been paid up to date and the Landlords want the house back.

The post Residential tenancy taken out by my company director who has left? appeared first on Property118.

View Full Article: Residential tenancy taken out by my company director who has left?

mydeposits to run ‘The Great Tax Debate’ webinar

admin    Uncategorized     agents

On Thursday 17 December, mydeposits will run ‘The Great Tax Debate’ webinar, aimed at helping landlords prepare for 2021, which it is thought could bring some of the biggest changes to tax in recent years.

England’s Government and its predecessors have clamped down hard on landlords when it comes to tax, despite it not being mentioned in successive manifestos. In April this year, landlords suffered a triple hit as three tax reliefs were axed or scaled back from the start of the new tax year. Mortgage interest tax relief was replaced with a 20 per cent credit, which has been phased in over three years, capital gains tax exemptions for ‘accidental’ landlords – those who held onto homes they once lived in, were reduced, and letting relief was cut.

Most landlords are now facing significantly larger income tax bills than they did 10 years ago and it is thought that there will be more in the pipeline when Rishi Sunak delivers his next Budget.

‘The Great Tax Debate’ webinar will reflect on the recent tax changes which have impacted landlords the most, and the panel will share their views and answer live questions from attendees.

The expert panel, hosted by Head of Property for Hamilton Fraser, Paul Shamplina, will include:

• John Stewart – Deputy Director of Policy and Research for the NRLA
• Mitch Young – Co-Founder of Fusion Consultancy and International Private Client Tax specialist
• David Coughlin – CEO of National Residential; Co-Founder & Board Member at The National Association of Property Buyers
• Nigel Lewis – Property Journalist and Editor

Ahead of the webinar, John Stewart, Deputy Director of Policy and Research for the NRLA, says:

“Residential property investment has become the Conservative’s ‘go-to’ sector for tax take. Over the last few years, we’ve seen restrictions on mortgage interest relief, differential rates of CGT and SDLT and loss of wear and tear and energy savings allowances. Rather than blanket increases and cuts in allowances, there is a need to get smart and use the tax regime to align investor behaviour with the Government’s desired policy outcomes for private renting.”

To register and attend ‘The Great Tax Debate’ webinar, please visit this link.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – mydeposits to run ‘The Great Tax Debate’ webinar | LandlordZONE.

View Full Article: mydeposits to run ‘The Great Tax Debate’ webinar

The business evictions ban is extended until end March 2021

admin    Uncategorized     agents

The Communities Secretary, Robert Jenrick, announced business owners affected by the pandemic will be protected from eviction until the end of March 2021.

This final extension to protections from the threat of eviction will give landlords and tenants 3 months to come to an agreement on unpaid rent.

The post The business evictions ban is extended until end March 2021 appeared first on Property118.

View Full Article: The business evictions ban is extended until end March 2021