Understanding the Tenant Fees Act 2019
The Tenant Fees Act 2019 commences from 1 June 2019 and applies to England only (for the time being as it has the ability to extend to Wales). The Act controls what payments a landlord or letting agent may require “in connection with a tenancy of housing...
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Johnson Wants to Make Sellers Pay Stamp Duty
Tory leadership hopeful Boris Johnson wants to make sellers pay stamp duty instead of buyers. He hopes the change could see the Treasury pick up an extra £700 million year as the move would see the first-time buyer exemption scrapped. Johnson has pledged to include...
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Health and Safety Revamp Ahead for HMO Landlords
Housing minister Heather Wheeler wants to simplify the health and safety ratings process for houses in multiple occupation (HMOs). She has announced a revamp of the system will start later in the year. The review will cover the Housing Health and Safety Rating System...
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Tenancy Builder Updated – Now Includes Break Clause Option
Despite us disliking break clauses greatly (this statement is toned down from our true feelings), it’s one of the most common requests to be inserted into our tenancy agreements. We have therefore given in to the pressure and today, we have updated the Tenancy Builder...
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Rents Rising as London Recovers From Slowdown
Buy to let landlords have seen rents rise 1.3% in a year, according to the latest official data. The underlying figures vary across the country. Tenants in England are paying 1.3% more, while those in Wales are paying slightly less - at 1.1%. The figures from the...
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EPC Requirement for HMO and Section 21 Notice
For an assured shorthold tenancy in England granted or renewed since 1 October 2015, it is a requirement that in order to serve a section 21 notice, certain prescribed requirements must have been complied with. The prescribed requirements are to provide an Energy...
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Over 50s Plan to Unlock Cash Tied Up in Homes for Retirement
The over 50s plan to spend the cash locked in the value of their homes rather than leave the money to loved ones when they die. Just over half say property wealth accounts for a major part of their financial planning for retirement. New data reveals property accounts...
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Updated Landlord Handbook and Accreditation Course
A quick note to let you know that we have published an updated version of the Landlord Handbook for England. We are holding off the Wales version until all sub-regulations for the tenant fees ban are published. This handbook is not just available for subscribers to...
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High Streets Lose Eight Property Agents a Week
High streets across the country are seeing estate and letting agent branches close at the rate of more than eight a week. New data shows property agents are the third worst business for closing on the high street, behind banks and pubs. In 2018, a net 448 property...
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Silver Renters Becoming a Force in Buy to Let
A generation of over 50s is taking to renting either as a lifestyle choice or because they cannot afford to buy a home of their own. These renters live alone (48%), pay an average £1,000 a month rent and live in two bedroomed homes (44%). Property experts at letting...
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Deposit Penalty – Multiple Breaches and Limitations
With thanks to NearlyLegal for reporting this one. In Howard v Dalton, County Court at Dartford, 7 May 2019, a couple of interesting points were raised in relation to the penalty provisions where a deposit had not been protected nor prescribed information given...
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Watchdog Puts Unfair Leasehold Charges Under Scrutiny
Landlords could be unshackled from paying unfair and costly charges as the competition watchdog launches a probe into how the leasehold property market works. The Competition and Mergers Authority (CMA) fears landlords and other homebuyers are locked into crippling...
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Can you really trust house price statistics?
The Halifax House Price Index has thrown up some questionable figures for the second month in a row, but should homeowners and buyers really go along with what the statistics say? The Halifax claims home values have increased 5.2% in the year to the end of May,...
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Legal Update 2019 Course in Wales
Training for Professionals is holding a “Legal Update 2019 Wales” course in Colwyn Bay on the 3rd July and Swansea on the 4th July 2019. Here at the Guild of Residential Landlords, we work very closely with Training for Professionals and have been to a number of these...
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Labour Plans Red Light to Bring Buy to Let to a Dead Halt
Labour is planning a massive tax onslaught for landlords and property investors should the party win the next General Election. A new study commissioned by the Labour Party proposes to end a ‘buy to let frenzy’ that has gripped the housing market by raising property...
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Updated Holding Deposit Form and Form 6A
We have updated the combined holding deposit receipt and agreement used for England under the Tenant Fees Act. At the top, we had “prospective landlord” details which needed to be entered but we have now changed this to be details of the person receiving the holding...
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CGT Stealth Tax Will Cost Landlords More
Another stealth tax is likely to add to the woes of landlords selling an investment property. HM Revenue & Customs wants to slash the tax relief on selling homes. Currently, under principle residence relief (PRR) investors benefit from an 18-month capital gains...
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P2P Investors Holding £160m in Loans as Lender Collapses
Property peer-to-peer funding platform Lendy has collapsed leaving investors holding around £160 million in outstanding loans. Lendy pooled funding from private investors with pledges of up to 12% returns. The money was borrowed by homeowners and developers and...
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Landlord Confidence is Key to Possession Reforms
Groups representing landlords and letting agents forming a ‘Fair Possessions Coalition’ have united in warning that plans to abolish Section 21 repossessions without a new system in place would undermine investment in the sector at a time when private landlords are...
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We Can’t Keep Up With Property Tax Tinkering, Say Experts
Ministers should hold off tinkering with stamp duty rules for landlords and property investors after a slew of changes in recent years, says tax experts. The changes impact home buyers and buy to let investors, who along with their advisors, are hard-pushed to keep up...
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