New luxury retirement retreat in Wye Valley

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Lindors is a new luxury retirement retreat based in the Wye Valley area of Gloucestershire. Wye Valley is one of the most dramatic lowland landscapes in Southern Britain and is an Area of Outstanding Natural Beauty that covers 128 square miles from Mordiford near Hereford in the north

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Section 24 hits our Armed Service men and women

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Military personnel who rent their homes out whilst stationed away are being hit by the Government’s Section 24 tax hikes on private rented housing.

A report by the Royal United Services Institute said 59% of married members of the armed services own their own home and for those who rent this out when they are posted either abroad or elsewhere in the UK:  “taxation on rental income and recent changes to ‘buy-to-let’ legislation makes this increasingly financially difficult for service personnel.�

The tax increases introduced over the last two years include taxing a landlord’s rental income

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Court action for repossession following probate?

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I am very worried and hope that some of the property 118 members can advise me.

Long story short: I inherited a property from a close family member when she died. Pending and since probate was obtained I have continued to make all the mortgage payments (interest only mortgage) on the property out of my own funds and the property has been empty for some time

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Landlords & Agents need to think about Data Protection

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Data Protection:

Everyone has been getting excited about the advent of the new GDPR data protection regime, and the scary sounding fines that this could impose on any business in breach.

In actual fact, for most people and businesses, landlords and agents included, not that much has changed. If you complied with the data protection principles before the GDPR, then you are 90 per cent there.

If you operate a website and/or collect personal information, your statements at collection and your privacy policy should be updated with respect to GDPR.

If you have had a continuous relationship with clients / tenants / other businesses, then any communications with them, such as emails, need no special permission. However, email recipients should be directed to a compliant privacy policy and allow simple straightforward unsubscribing from your list.

After four years in the preparation and debate, the GDPR was finally approved by the EU Parliament on 14 April 2016 and enforcement commenced 25^th of May 2018.

The EU’s General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC. It was designed to harmonize data privacy laws across Europe, including the UK’s Data Protection Act 1998 as amended by the 2018 Act, to protect and empower all EU citizens’ data privacy and to reshape the way organizations across the region approach data privacy. The EU rules will continue to apply in the UK even though we are leaving the EU.

In the case of the private rented sector both landlords and letting agents hold data on people, mainly tenants, and this is often shared with other organisations, so it is important that the GDPR is taken into account.

In reality though, for landlords and agents, not much has changed from before as they have always been under an obligation to protect personal data when acting as “data controllers� under the Data Protection Act 1998.

Any private landlord letting a property without an agent will need to register with the Information Commissioner’s Office (ICO) as a “Data Controller� and pay their annual fee, currently £40. Those landlords who use an agent will be relying on the agent to handle the private data around the tenancy and therefore will not need to register.

Under the GDPR landlords and agents need to identify the correct legal basis they rely on to collect, hold and use personal data, including information about their tenants, and in accordance with the eight data protection principles (Data Protection Act 1998):

Landlords and agents need a valid lawful basis in order to process personal data.

There are six available lawful bases for processing. ICO say no single basis is ’better’ or more important than the others – which basis is most appropriate to use will depend on your purpose and relationship with the individual.

The Lawful Basis for Processing

The lawful bases for processing are set out in Article 6 of the GDPR. At least one of these must apply whenever you process personal data:

(a) Consent: the individual has given clear consent for you to process their personal data for a specific purpose.

(b) Contract: the processing is necessary for a contract you have with the individual, or because they have asked you to take specific steps before entering into a contract.

(c) Legal obligation: the processing is necessary for you to comply with the law (not including contractual obligations).

(d) Vital interests: the processing is necessary to protect someone’s life.

(e) Public task: the processing is necessary for you to perform a task in the public interest or for your official functions, and the task or function has a clear basis in law.

(f) Legitimate interests: the processing is necessary for your legitimate interests or the legitimate interests of a third party unless there is a good reason to protect the individual’s personal data which overrides those legitimate interests. (This cannot apply if you are a public authority processing data to perform your official tasks.)

If you have a website your privacy notice should include your lawful basis for processing as well as the purposes of the processing.

The Data Protection Principles (Data Protection Act 1998)

1. Personal data shall be processed fairly and lawfully and, in particular, shall not be processed unless
   1. at least one of the conditions in Schedule 2 is met, and
   2. in the case of sensitive personal data, at least one of the conditions in Schedule 3 is also met.
2. Personal data shall be obtained only for one or more specified and lawful purposes, and shall not be further processed in any manner incompatible with that purpose or those purposes.
3. Personal data shall be adequate, relevant and not excessive in relation to the purpose or purposes for which they are processed.
4. Personal data shall be accurate and, where necessary, kept up to date.
5. Personal data processed for any purpose or purposes shall not be kept for longer than is necessary for that purpose or those purposes.
6. Personal data shall be processed in accordance with the rights of data subjects under this Act.
7. Appropriate technical and organisational measures shall be taken against unauthorised or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data.
8. Personal data shall not be transferred to a country or territory outside the European Economic Area unless that country or territory ensures an adequate level of protection for the rights and freedoms of data subjects in relation to the processing of personal data.

The heavy fines myth.

Although the new fine figures being bandied about for GDPR are really scary, there has always been a heavy fine regime in place under the Data Protection Act 1998, in the region of £500,000. But no fine has ever been imposed anywhere near that figure.

The ICO have no intention of hounding small and medium sized businesses with heavy fines, and any minor breaches of the rules would no doubt start off with a warning.

Nevertheless, it is very important to make sure you are complying fully with the GDPR and the main principles applying to the processing of personal data.

See here for a free Privacy Policy Template: Landlords & Agents – make sure you are GDPR Compliant

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlords & Agents need to think about Data Protection | LandlordZONE.

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Armed services hit by tax raid on landlords

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Military personnel who rent their homes out whilst stationed away  are being hit by the Government’s tax hikes on private rented housing. A new report out today by the Royal United Services Institute said 59 per cent of married members of the armed services own their own home and for those who rent this out […]

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Spike in landlords leaving PRS

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ARLA Propertymark April Private Rented Sector (PRS) report.

Landlords selling their buy-to-let

• In April, letting agents saw the highest number of landlords selling their buy-to-let (BTL) properties since records began in 2015. The number of landlords exiting the market rose to five per branch

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Crowd funding and technology are changing property investment

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After two successful crowd funding projects, which were aimed at planning gains and considered to be high risk, we are happy to say that the success and the test of time delivered results which led to all investors being paid back with a profit.

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Housing Stock Trend reflects recent decline in Buy-to-Let

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Housing Stock England:

Figures just released from the Ministry of Housing, Communities and Local Government (MHCLG) in their Dwelling Stock Estimates 2017, England, report, show the latest available view of the housing market in England.

The figures represent estimates of the number of dwellings in England in each local authority district based on the 2011 Census, after applying net changes to the housing stock.

Estimates for Scotland, Wales and Northern Ireland, Great Britain as a whole and the UK are also available in the live tables on the MHCLG website.

These latest available official figures show a fall in the number of private rented sector homes available for letting, which might suggest that some landlords have been deterred following when the recent restrictive tax changes taking effect.

An important question arises; have even more landlords decided to quit the sector since the period after these figures, over the last year?

The national estimates as at March 2017:

• There were 23.9 million dwellings in England at 31 March2017, an increase of 217,000 dwellings (0.92%) on the same point the previous year.
• 1 million dwellings were owner occupied dwellings, 4.8 million private rented dwellings and 4.0 million social and affordable rented dwellings (Private Registered Providers plus Local Authority).
• Between March 2016 and March 2017, the owner occupied dwelling stock increased by 262,000 and the private rented stock decreased by 46,000. The social and affordable rented stock increased by 3,000 dwellings and the other public sector stock decreased by 1,000 dwellings.
• There were 605,891 vacant dwellings in England on 2 October 2017, an increase of 16,125 (2.7%) from 589,766 on 3 October 2016. Vacant dwellings are 2.5 per cent of the dwelling stock.
• Long-term vacant dwellings numbered 205,293 on 2 October 2017, an increase of 5,148 (2.6%) from 200,145 on 3 October 2016. Long-term vacant dwellings are 0.9 per cent of the dwelling stock

Showing a consistency between these and The English Housing Survey, these statistics show a quite alarming level vacant dwellings in England on October 2, 2017, at 605,891, representing 2.5% of dwelling stock and an increase of 16,125 (2.7%) from 589,766 on a year earlier.

Source MHCLG

Private rented stock declined by around 46,000 homes after many years of increases. Could this be the result of the 3% stamp duty surcharge on second homes, and the four-year phased-in abolition of mortgage interest relief?

Read the full report here:

Dwelling Stock Estimates: 2017, England

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Housing Stock Trend reflects recent decline in Buy-to-Let | LandlordZONE.

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Forum Spotlight: Tenant in joint contract wants to leave early

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When renting to students or a group of friends living in a HMO, it is common for the landlord to issue a joint tenancy agreement. This week’s Forum Spotlight looks at a question by a landlord, over what to do about a student that wanted to leave a contract, and was being challenging. The situation […]

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Planning permissions for extended HMO Licensing?

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In October mandatory licensing is being extended to include all 3 storey HMO’s and all HMO’s with 5 or more occupants living there as 2 or more households. This affects small HMO’s eg student houses. Unfortunately I will now have to get a couple of properties licensed. 

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