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Insights - Letting
How to Make a Successful Tenancy Deposit Scheme Claim
Of the 29,697 tenancy deposit scheme cases that came to dispute in 2020/21, 75 per cent were initiated by the tenant. Comparing this to just 17 per cent having been initiated by a letting agent, and 8 per cent by a landlord, it’s clear to see that it’s important for landlords to be prepared and aware of best practices should they find themselves in a deposit protection scheme dispute.
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Navigating Tenant Rights in the Face of Rent Increases
In the current rental market, tenants face rising costs due to inflation (higher landlords costs) and high demand, with specific legal protections depending on their tenancy type. Tenants can negotiate with landlords or legally challenge unjust rent increases, particularly through tribunals that assess the fairness of the proposed rent in relation to local market rates. Understanding their rights and the specifics of their rental agreements is key for tenants to navigate these increases effectively.
The Biggest Change In Renters’ Law In A Generation
The new Renters Reform Bill changes the balance of power in favour of tenants, because it will increase their security and peace of mind. The new law could make it difficult and costly for landlords to evict tenants or sell their properties.
The Top 5 Most Common Landlord Insurance Claims
The importance of specialist landlord insurance cannot be over-emphasised. With the risks higher for rental property than everyday residential property, the financial repercussions of not having adequate cover in place can be considerable. To help landlords plan to reduce risk, we look at the top five biggest risks posed to landlords, which inevitably result in landlord insurance claims.
Updated Advice for Landlords on Right to Rent Checks 2022
Right to Rent checks are set to face reforms at the start of the new tax year on 6th April 2022, with 5th April marking the end of the COVID-related temporary adjustments which allowed checks to be carried out virtually. From 6th April onwards, there will be a new permanent online solution which will allow right to rent checks to continue to be carried out remotely, for all nationalities, and with enhanced security.
Surge in Rent Arrears Sparks Call for Landlords to Protect Their Investments
UK landlords are being prompted to make sure they have appropriate strategies in place to protect their property investments following a recent surge in rent arrear cases. With government data revealing that rent arrears amongst private tenants have increased, and almost two thirds of landlords reporting that they’ve had to absorb arrears-related losses from their savings, it is vital that some form of landlord rent arrears insurance is in place to mitigate future financial issues.
What the Delay to Making Tax Digital Means for Landlords
Originally due to be introduced in April 2023, HMRC Making Tax Digital for Income Tax has now been pushed back to April 2024. What this means for taxpayers and, in particular landlords, is the subject of this latest post.
Heat Source Pump Grants Coming Soon for Landlords
As confirmed in the recent Autumn 2021 Budget, landlords have been included in the government’s heat source pump grant scheme, which will provide access to grants of £5,000 to help replace gas boilers with low-carbon air or ground source heat pumps from April 2022.
Autumn Budget 2021: Landlord Update
The focus of today’s Autumn Budget and Spending Review was post-pandemic economic recovery. From grants to help landlords replace boilers, to a deadline extension for Capital Gains Tax, there are a number of announcements that look set to impact landlords and property investors.
New Evictions Paperwork Compulsory from 1 October
From 1 October, landlords and letting agents are required to use new forms when dealing with Section 8 and Section 21 Notices. It’s crucial that any notice deemed as served from this date uses the new court paperwork to evict a tenant, otherwise it will not be valid. Here’s how it all works.
