Launching a fabulous opportunity in Leeds

admin    Uncategorized     agents

Property Investor Partnership is delighted to have secured four, 2 bedroom houses in Leeds, for the discounted price of £152,995.  These properties have been discounted by 10% off current list prices and also include flooring, turf and white goods in our discounted price.

The post Launching a fabulous opportunity in Leeds appeared first on Property118.

View Full Article: Launching a fabulous opportunity in Leeds

Government needs to avoid breakdown of trust

admin    Uncategorized     agents

The Government urgently needs to provide tenants with better information on their rights and responsibilities if it is to avoid a breakdown of trust between renters and their landlords, the National Landlords Association warns.

New research, commissioned by the NLA

The post Government needs to avoid breakdown of trust appeared first on Property118.

View Full Article: Government needs to avoid breakdown of trust

Criminal Gangs subletting luxury flats in London

admin    Uncategorized     agents

Illegal Sub-letting:

London landlords with properties in Mayfair, Knightsbridge
and Belgravia are being targeted by gangs of criminals who rent their luxury
homes.

They invariably pay not rent, but let them out to a series
of mainly Middle East visitors on short stays, earning thousands of pounds in
the process.

Given the tenancy laws as they stand, it takes the landlord
up to 12 months to regain possession of their properties, whilst the criminals have
been happily raking in rent, and invariably the properties are in a poor state
of repair when they are eventually recovered.

Ironically, the Government is considering moves to make rental properties even more difficult to recover by the removal of the no-fault Section 21 provision in the 1988 Housing Act, whilst, despite clear evidence of criminal intent, the overstretched London police at Scotland Yard refuse to act claiming that tenancy problems like this are a civil matter.

Police chiefs are advising landlords and letting agents to
be extra careful when vetting tenants for these luxury accommodations, while
still refusing to intervene.

Patrick Bullick, managing director of a central London
estate agency and chair of the London branch of the National Association of
Estate Agents (NAEA) told the Sunday
Times that the rise of Airbnb and other letting websites is facilitating
this criminal activity – “thousands of properties are being misused in this way�,
he said.

One landlord quoted in the Sunday Times said that in the 5 months it took to remove the tenant
she saw 80 different people enter into short-term lets, whilst she lost around
£100,000 in legal fees, unpaid rents and repairs for the dilapidations. It took
another landlord nearly 12 months to regain possession at a cost of £70,000.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Criminal Gangs subletting luxury flats in London | LandlordZONE.

View Full Article: Criminal Gangs subletting luxury flats in London

Annual house price growth 5.7%

admin    Uncategorized     agents

The Halifax House Price Index shows June’s annual change figure of 5.7% growth coming against the backdrop of a particularly low growth rate in the corresponding period in 2018, which has had an impact on year-on-year comparisons. The average house price now stands at £237,110.

The post Annual house price growth 5.7% appeared first on Property118.

View Full Article: Annual house price growth 5.7%

£186,657 paid out to tenants – SafeDeposits Scotland

admin    Uncategorized     agents

During the last 18 months more than 200 landlords from across Scotland have been found in breach of a law designed to protect tenants’ deposits, according to research carried out by SafeDeposits Scotland.

Since 2012, landlords in Scotland that take a deposit from their tenant have been required

The post £186,657 paid out to tenants – SafeDeposits Scotland appeared first on Property118.

View Full Article: £186,657 paid out to tenants – SafeDeposits Scotland

What to do now we have moved away?

admin    Uncategorized     agents

I have been an avid reader of this site and you kindly helped me before, so perhaps I can ask again for some advice? I have a 3 bed semi in Pegswood, near Morpeth, Northumberland, which used to be my home.

The post What to do now we have moved away? appeared first on Property118.

View Full Article: What to do now we have moved away?

Rents rise just above inflation and tenancy duration drops

admin    Uncategorized     agents

THE latest data from HomeLet shows demand for rental properties remaining high and in examining the data from the last five years, HomeLet has found that the UK as a whole has experienced a 13.9% growth in rental values (12.5% when London is excluded).

The post Rents rise just above inflation and tenancy duration drops appeared first on Property118.

View Full Article: Rents rise just above inflation and tenancy duration drops

Squatting in Commercial Premises – Don’t wait to seek help

admin    Uncategorized     agents

In 2012, a change in law made squatting in residential property a criminal offence. The inevitable consequence of this was an increase in the number of cases of squatting in commercial premises.  Squatting has now become a real issue for commercial landlords and property managers

The post Squatting in Commercial Premises – Don’t wait to seek help appeared first on Property118.

View Full Article: Squatting in Commercial Premises – Don’t wait to seek help

Time to consider Derby for property investment

admin    Uncategorized     agents

Derby is an often-overlooked area when it comes to property investment. However, with the arrival of HS2 it will soon come into the limelight.

Much of Derby’s property is undervalued but it is expected that the arrival of HS2 will push prices up significantly.  

The post Time to consider Derby for property investment appeared first on Property118.

View Full Article: Time to consider Derby for property investment

Wealth Transfer Taxes – which way will they go?

admin    Uncategorized     agents

Inheritance Tax:

Most landlords have a keen interest in the inheritance tax
regime and how efficiently they may be able to pass on their assets to the next
generation.

With the average landlord portfolio at 12.4 properties in Q2
2018, down from a peak of 14.9 properties in Q3 2014, the average value would
be in the region of £1.61 million.

Of course, most landlords have less than three buy-to-lets,
but with their own residence (with the rise in house prices) and other
investments put into the equation, there is still likely to be a substantial
inheritance tax liability, and at 40% tax this is a painful tax bill for their heirs.

With all the political uncertainty at this time the way that
this tax burden falls on family assets in the future is at a crossroads: while
on the one hand a recent study by the Office of Tax Simplification (OFT) would
reduce the burden, Labour’s plans would be very much in the other direction.

Currently, with an estate worth more than £325,000 (or
£650,000 for married couples and civil partners), it is very likely that 40% of
the amount above the allowance will pass to HMRC on the event of the second
spouse’s passing.

Gifting

One of the more straightforward ways of avoiding inheritance
tax liability is to give away family assets while the giver is still alive. Whilst
it is possible to gift relatively small amounts (£3,000 per spouse per year),
for serious amounts of money a Potentially Exempt Transfer (PET) enables an
individual to make gifts of unlimited value. This gives exemption on a sliding
scale until it will become totally exempt from Inheritance Tax (IHT) if the gifting
individual survives for a period of seven years.

Putting assets into a trust and using business relief for
business assets are other ways of avoiding inheritance tax, but these are
complex areas, they are subject to regulatory risk (if the rules change) and therefore
require professional advice.

Office of Tax
Simplification Review

Of the 11 proposed changes set out by the Office of Tax
Simplification (OFT) review, published last week, designed to help the
government simplify inheritance tax (IHT), one of the suggestions was that family
members should be allowed to give away as much money as they like, tax-free, as
long as they live for five years – not the current seven.

Bill Dodwell, tax director at the OFT, has said that a
five-year window and increasing the annual exemption from £3,000 to £11,900 would
leave many families better off. In the last year The Treasury collected a record £5.37bn in inheritance tax receipts,
a 3% increase on the previous year.

Labour’s Plans

Shadow Chancellor, John McDonnell, in stark contrast to the
above, has confirmed the Labour party is considering the plans in its “Land for
the Manyâ€� report, to set a cap on transfers, its “lifetime allowance”
of £125,000, above which all transfers would be taxed as income.

Labour is looking to generate an additional £9.2 billion from
transfers which would, they say, lead to a “better sharing out of the unearned
windfalls arising out of the housing boom�.

An example quoted by The
Daily Telegraph would mean a teacher
who inherits a home worth £500,000 having to find £189,000 to pay the tax bill.

Conservative Party chairman, Brandon Lewis, says that the proposals
being considered by Labour, replacing the current system of inheritance tax
with a “lifetime gifts tax”, levied on cash gifts or homes and
businesses, could leave people on average incomes saddled with “eye-watering�
tax bills.

Inheritance Tax Rates

Office of Tax Simplification: Inheritance Tax Review

Land for the Many A report to the Labour Party, June 2019

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Wealth Transfer Taxes – which way will they go? | LandlordZONE.

View Full Article: Wealth Transfer Taxes – which way will they go?