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Insights - Letting
Condensation, Mildew & Mould: Landlord or Tenant Responsibility?
Mould, damp, mildew and condensation are a fairly common problem in rental properties, often discovered at the end of a tenancy. If you find any of these issues in your property, you may be wondering whether you can pass the costs for resolving them on to the tenant. Whether or not you can depends on various factors.
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Landlord Buildings Insurance: Warning to Check Your Sum Insured
Landlord buildings insurance covers rental property against risks such as flood, fire or vandalism. The cover meets the costs of repairing or rebuilding the property but, if your sum insured isn’t sufficient to cover the full costs of a rebuild, you may find yourself either having to make up the difference yourself, or surrender the property. With construction costs recently facing a huge hike, it is vital to check that your sum insured remains realistic.
The Importance of Regular Mid-term Inspections
Ensuring minor issues don’t escalate into major problems is an exercise that never fails to save landlords time and money. It’s precisely why the mid-term inspection is such a vital tool. Here’s the lowdown on mid-term inspections, why as a landlord you should be investing in them, how often you should be doing them, and what’s involved.
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.
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.
