Company let eviction with 3 months rent arrears

admin    Uncategorized     agents

I have a Company Let (no name of the Ltd Company ; only an individual name on the tenancy agreement) where the tenant is not paid rent for last three months amounting to GBP 10K . The LA (Letting Agent) made the agreement and we were too naïve to understand that a Company Let needs to have the LTD Company Reg number!

The post Company let eviction with 3 months rent arrears appeared first on Property118.

View Full Article: Company let eviction with 3 months rent arrears

Hamilton Fraser scoops “Best Landlord Insurance Provider�

admin    Uncategorized     agents

Industry Award:  

For the second year running Hamilton Fraser Total Landlord Insurance has won ‘Best Landlord Insurance Provider’ at the Insurance Choice Awards following a voting period which saw more than 24,000 UK consumers share their insurance experiences*.

Now in their third year, the Insurance Choice Awards are the largest consumer voted awards for the insurance industry.  In such a vast market, having categories which cover the whole spectrum, such as pet, home, car, cycle and travel, aims to make it easier for consumers to find the best insurance products specific to their needs from the most trusted providers.

Winners of the 18 product-specific awards were announced at The Insurance Choice Awards held on Thursday 4^th October at Café de Paris, London, hosted by comedian Paul Tonkinson. Hamilton Fraser won their category against finalists Simply Business.

Some of the reviews left by Hamilton Fraser customers, which contributed to their success, said:

“Efficient, good value, and with excellent, informative newsletters about helping landlords keep up to date with legislation, etc.�

“Total landlord gave me excellent service with very competitive pricing. I have already recommended them to other landlords that I know.�

“Excellent customer service. Always willing to go the extra mile and accommodate all my requirements.�

Eddie Hooker, CEO of Hamilton Fraser Total Landlord Insurance said:

“We’re constantly striving to make improvements to both our products and services, but good customer service has always been number one priority. We can’t always be the cheapest or offer the most, but we can always offer exceptional customer service and sound knowledge not only of the insurance industry but also buy-to-let. 

“It has been fantastic to read all the reviews which predominantly reinforce this, and we are extremely grateful to all of our landlords that took the time to vote.  The feedback not only helped us win, but also helps us continually evaluate and improve.â€�

Mike Fotis, Founder of Smart Money People, commented “Smart Money People was founded on the belief that people power can help to make financial services work better for everybody. The fact that these awards are customer-driven should make winners especially proud to take home an Insurance Choice Award in 2018.�

*Voting period was 2^nd July – 23^rd September 2018

About Hamilton Fraser

Based in Borehamwood, Hamilton Fraser, (parent company to Total Landlord Insurance, mydeposits, Property Redress Scheme, CMP and Landlord Action) provides specialist insurance and ancillary services for the private rented sector.

About Smart Money People

The Insurance Choice Awards are run by Smart Money People

Launched in October 2014, Smart Money People is the UK’s leading review and insight platform focused on financial services

Smart Money People delivers customer insight and research to financial organisations including banks, building societies, insurers and trade associations

As part of the voting process, consumers tell us about a range of factors, including the customer experience, whether they’ve felt fairly treated, what they like or even what improvements they’d like to see

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Hamilton Fraser scoops “Best Landlord Insurance Providerâ€� | LandlordZONE.

View Full Article: Hamilton Fraser scoops “Best Landlord Insurance Provider�

Potential Budget CGT relief and profit split for selling to long term tenants?

admin    Uncategorized     agents

On Friday we reported on the RLA Press release RLA ask for longer term tenancy tax incentive

However, over the weekend the Sunday Times has reported that government may consider adding an incentive to Landlords for selling to their long term tenants in the Budget on 29th October.

The post Potential Budget CGT relief and profit split for selling to long term tenants? appeared first on Property118.

View Full Article: Potential Budget CGT relief and profit split for selling to long term tenants?

All Scottish Letting Agents must be Registered

admin    Uncategorized     agents

Agent Registration:

As from the 1st October 2018, all letting agents operating in Scotland have to compulsorily join the Scottish Letting Agent Register and follow their Letting Agent Code of Practice.

Any agent in Scotland currently carrying out letting agency work, if they wish to continue doing so, had to submit an application to the Scottish Letting Agent Register last week. From then on it will be a criminal offence, with a potential £50,000 fine or face up to six months imprisonment, if agents continue to trade illegally, until their application has been determined.

Following the move it will become mandatory to have experience and hold professional qualifications in the lettings industry to occupy key roles in an agency. This is to be determined as part of the registration process. All registered agents will be required to have undergone appropriate training and become qualified in the various aspects of property letting and management.

In England, agent’s registration has always been resisted up to now on the premise that it restricts free trade and it is a cost to the taxpayer, relying instead on voluntary redress schemes and codes of practice. Despite this, inroads are slowly being made, with complaint and compulsory arbitration, plus client money protection (CMP) schemes.

In Scotland, post the registration deadline, key individuals in each agency, in a management or supervisory role, must meet a minimum standard of training. Those who have to be qualified as part of the registration process must have a relevant qualification covering the essential aspects of letting agency work.

For example, The National Approved Letting Scheme (NALS) offers an accredited course resulting in a qualification which meets the new Scottish agent’s registration requirements. It comprises of three modules, each with a test at the end, and a final end test.

This qualification is accredited by the Northern Council for Further Education (NCFE), a national awarding organisation. Candidates who successfully complete the course will be awarded an NCFE certificate.

The new rules aim to improve standards in the letting industry in Scotland, to make sure that agents are aware of the letting and safety rules and regulations and are proficient in handling clients’ personal data and monies paid to them by tenants’ on their principal, their landlord client’s behalf.

Persons will be authorised by the Scottish Ministers to undertake an inspection regime which will depend on the reason for the compliance visit. The Scottish Ministers may involve suitably qualified professionals or experts in the industry to undertake, or be a part of, any inspection.

For example, an issue involving finance my result in a inspection led by a chartered accountant or other circumstances may result in the involvement of the Trading Standards or even the Police.

The Scottish government is advising tenants and landlords to check that their agent is now registered in the scheme.

Register here: https://lettingagentregistration.gov.scot

Scottish letting agent code of practice – here

Regulation of Letting Agents Monitoring Compliance and Enforcement Framework – here

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – All Scottish Letting Agents must be Registered | LandlordZONE.

View Full Article: All Scottish Letting Agents must be Registered

Our recon trip to Portugal for NHR tax residence purposes

admin    Uncategorized     agents

My wife and I have spent the last week looking at properties to buy in Portugal. As you might recall, last month I wrote an article entitled “Why UK Landlords Are Flocking to Portugal“.

To cut a long story short

The post Our recon trip to Portugal for NHR tax residence purposes appeared first on Property118.

View Full Article: Our recon trip to Portugal for NHR tax residence purposes

FREE MONEY FOR LANDLORDS!

admin    Uncategorized     agents

Following the success of our recent article in September we have given away THOUSANDS of pounds in FREE money to landlords as a combination of grants and incentives.

We have a new list of eligible properties (see below).

The post FREE MONEY FOR LANDLORDS! appeared first on Property118.

View Full Article: FREE MONEY FOR LANDLORDS!

Newsflash – New Landlords Association

admin    Uncategorized     agents

News Flash – New Landlords association.

To those who have pledged on this forum, but have not yet emailed us please email info@landlordsalliance.co.uk

Thank you to those who have contacted us and we will update you in due course.

The post Newsflash – New Landlords Association appeared first on Property118.

View Full Article: Newsflash – New Landlords Association

Manchester National Landlord Investment Show

admin    Uncategorized     agents

National Landlord Investment Show will celebrate 60 shows since their launch at the Manchester Show next week October 9th 2018

The UK’s leading property investment event arrives in Manchester for its 5th year on October 9th at Manchester United FC.

The post Manchester National Landlord Investment Show appeared first on Property118.

View Full Article: Manchester National Landlord Investment Show

Shelter CEO is also confused about no-fault evictions

admin    Uncategorized     agents

As I mentioned previously, Polly Neate appeared about 5 and a half minutes into the Tonight programme last week called Britain’s Property Crisis. Click Here to view

Polly said “These so-called Section 21 evictions, or no-fault evictions

The post Shelter CEO is also confused about no-fault evictions appeared first on Property118.

View Full Article: Shelter CEO is also confused about no-fault evictions

Tax incentives needed for longer term tenancies says the RLA

admin    Uncategorized     agents

Longer Tenancies:

The RLA is urging the Chancellor to back Longer Tenancies in rented homes.

Landlords are urging the Government to back longer tenancies in rented housing to meet the needs of the growing numbers of families with children who rely on the sector for their home.

Almost 40 per cent of private rented homes have at least one child living in them, with such families seeking long term stability to settle into their communities and local schools.

Rather than resorting to legislation to impose longer tenancies on the sector, where tenants have already been living in their rented homes for almost 4 years, the Residential Landlords Association (RLA) is calling for tax reforms to encourage and support more landlords to offer them. The Government has already admitted that such incentives “could be quicker to implement� than legislation. It would also ensure that the vital flexibility the sector is good at providing is retained, enabling those wanting short term tenancies to quickly access new work and educational opportunities.

In its submission to the Treasury ahead of the Budget on 29^th October, the RLA is calling for tax relief on rental income which could increase each year a tenancy continues up to a maximum of 5 years if the tenancy is renewed. The relief would then remain at this level.

Alongside this, the RLA is calling on the Government to develop its plans for a housing court to speed up justice for tenants and landlords if something goes wrong in a tenancy, especially long term tenancies. At a recent event hosted by the RLA, the Housing Secretary, James Brokenshire confirmed that it will be consulting on a housing court in the next few months.

The RLA’s research exchange, PEARL, has found that 73 per cent of landlords would offer longer-term tenancies with a combination of financial incentives and court reform to ensure that they have the confidence that where they provide a longer tenancy they can swiftly regain possession in cases such as tenants failing to pay their rent or committing anti-social behaviour.

 David Smith, Policy Director for the RLA said:

“Landlords recognise the demand for longer tenancies which provide stability for tenants and landlords.

“Recent statements by MPs suggest that positive taxation to support longer tenancies would gain support in Parliament, enabling such tenancies to become available far quicker than imposing them by law.

“We call on the Chancellor to back this pragmatic proposal.�

• The RLA’s Budget submission for 2018 can be accessed here
• The English Housing Survey for 2016/17 can be accessed here
• Page 10 notes that 38% of private rented households have at least one child living in them.
• Page 19 notes that “for private renters the average length of residence was 3.9 years.â€�
• The Government’s consultation, “Overcoming the Barriers to Longer Tenancies in the Private Rented Sectorâ€� can be accessed here. Page 21 notes that financial incentives “could be quicker to implementâ€�than legislation.
• In 2015, the then Financial Secretary to the Treasury (now the Justice Secretary), David Gauke MP, argued that: “The provision of rented accommodation…supports the economy through improved labour market flexibility.â€� Source here
• RLA PEARL’s recent research on tenancy reform can be accessed here It notes that 73% of those landlords responding “reported court reform and tax relief would encourage voluntary longer-term tenancies.â€�
• Meg Hillier MP (Labour, Hackney South and Shoreditch – Chair of the Public Accounts Committee) made her comments during oral questions to Ministers at the Treasury on 29^thNovember 2016. It can be read here  She said: “More people in my constituency rent privately than own their own homes and for most of them ownership is a distant or impossible dream. Are the Government considering looking at the supply of private rented housing on longer tenures, perhaps with rent guarantees, and possibly using tax reliefs or other mechanisms the Treasury has in its armoury, to encourage landlords to provide those longer-term tenancies and better security for the many private rented sector tenants.â€�
• Kevin Hollinrake MP (Conservative, Thirsk and Malton – Member of the Housing, Communities and Local Government Select Committee) made his comments during a debate on temporary housing on 7^thNovember 2017. It can be read here He said: “I agree that we should consider longer tenancies. They should be voluntary for landlords, but there should be incentives. I wonder whether one such incentive could be to allow some dispensation around the section 24 mortgage interest provisions that have been introduced, because they have been received quite badly by many landlords. If landlords are willing to offer longer tenancies, perhaps there should be some dispensation around how we treat mortgage interest in the private rented sector.â€�
• Sir Robert Syms MP (Conservative, Poole – Former Chair of the All Party Group for the Private Rented Sector) made his comments during a debate on Housing and Homes on 15^thMay 2018. It can be read here He said: “If we are going to give security to people, it is right that we should give security to people who can buy. The social housing sector generally gives security to people, and of course we need to build more council homes, but we also need to give more security to those in the private rented sector. Somehow the Government, perhaps through tax incentives or capital gains incentives, ought to try to ensure that leases of three years or five years are available to families.â€�

The Residential Landlords Association: The home for landlords. The RLA represents the interests of landlords in the private rented sector across England and Wales. We’re home to over 50,000 landlords nationwide, with a combined portfolio of over a quarter of a million properties. A growing community of landlords who trust and rely on us to deliver day-to-day support, expert advice, government campaigning, plus a range of high-quality services relevant to their needs.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Tax incentives needed for longer term tenancies says the RLA | LandlordZONE.

View Full Article: Tax incentives needed for longer term tenancies says the RLA