Author: Brian Huber
HMRC Intensifies Scrutiny on Airbnb Landlords
Nearly 2,000 owners of holiday rentals faced inquiries from HM Revenue and Customs in the fiscal year 2023-24, marking a significant surge from only 95 cases against AirBNB landlords two years earlier. Insights provided by The Telegraph, thanks to information accessed through the Freedom of Information Act, suggest a clear pivot in the HMRC’s strategy…
Bank of England Deputy Governor Teases Reduced Interest Rates
The upcoming inflation data is much anticipated and will show whether inflation is aligning with the Bank of England’s target rate. People with mortgages, those looking to buy homes, financial experts, and others with loans or savings are eager for clues on when the UK might see reduced interest rates, potentially even by next month.…
Labour Divided Over Implementing Rent Controls
Rachel Reeves, the Labour Party’s shadow chancellor, has hinted that the party may entertain the idea of implementing rent controls in specific areas, though this does not align with the party’s official stance. During a conversation with BBC Radio Essex, Reeves noted, “I think that should be up to local areas to decide. There may…
Rent Increases for Tenants Extending Their Leases
According to research from Hamptons, tenants who are renewing their tenancy agreements are facing rent increases that bring their payments closer to the higher rents seen in new lettings on the market. In Great Britain, those who have renewed their lease in the past year have faced an average rent increase of 8.3%, which is…
LendInvest Mortgages Updates Buy-to-Let Mortgage Options
LendInvest Mortgages is now offering more competitive terms for buy-to-let mortgages. They’ve reduced their rates by as much as 0.15%, with mortgage rates now starting from 3.89%. The company has also raised its maximum loan limit, now offering loans of up to £3 million. Additionally, LendInvest is providing up to 80% loan-to-value (LTV) five-year mortgage…
Navigating Shared Inheritance: What If Multiple Heirs Receive One Property?
Imagine the scenario where you and your five cousins all inherit a castle. A shared inheritance situation isn’t simply about room picks; it involves serious legal, emotional, and practical decision-making. Understanding estate law, compromising skills, and maybe even some property management knowledge will be necessary. Should you all sell, rent, or maintain this inherited property?…
Continued Section 21 Notices After the Introduction of the Renters Reform Bill?
Even after the Renters Reform Bill comes into effect, landlords operating periodic tenancies might still be able to issue Section 21 evictions, as per insights from Goodlord and Dutton Gregory Solicitors. The Bill specifies that during periodic tenancies, landlords can use Section 21 until a review of the court system is done, a report is…
Labour Considers Council Tax Reform Aimed at Property Wealth
What does Council Tax Reform under The Labour party, look like? Well, Labour under the leadership of Sir Kier Starmer, has not dismissed the possibility of using satellite technology to surveil private properties, similar to recent reports from Wales, in order to raise taxes. Under new proposals from the Welsh government, those living in neighbourhoods…
Strutt & Parker to be Sold by BNP Paribas
It seems Strutt & Parker will soon have a new owner as French banking titan BNP Paribas is reportedly looking for buyers for the real estate agency, which boasts a workforce of over 500 individuals. Sky News has reported that due to the flurry of deals and movements within the estate agency sector, BNP Paribas…
GetGround Launches £1.5bn Comprehensive Buy-to-Let Investment Service
GetGround, an all-encompassing property investment platform, is now available to all limited company investors in UK property. Initially, GetGround focused on helping clients set up new companies for handling their buy-to-let properties. Expanding its services, GetGround now invites investors and landlords with pre-existing limited companies to integrate them into its platform. This move allows these…
London Rental Properties See a Notable Increase
Recent data indicates a sizable growth in the availability of rental properties in London. In Greater London, there is a 34.7% increase in rental properties, while the overall increase in rental homes is 43% compared to last year, as reported by Benham & Reeves. Across the country, the number of available rental homes has climbed…
How to maximise Tax Benefits from Deductible Closing Costs on Rental Properties
To ensure you’re getting the most in tax deductions for closing costs on rental properties, remember to include expenses that commonly range from 2% to 5% of the loan amount. These deductible closing costs can be costs such as inspection fees, professional fees, mortgage fees, prepaid amounts, and title company fees. Adding these to your…
Carpet Deductions Explained: How to Get the Most Out of Your Rental Property
For landlords wanting to claim the maximum carpet deductions on their rental property carpets, it’s important to maintain detailed expense records, such as receipts and invoices. Grasping the concept of carpet depreciation is key for understanding tax outcomes. Determine whether the costs are for repair and upkeep or replacement. Make use of capital allowances and…
Labour’s Housing Strategy: A Unique Approach to Tackling the Housing Crisis?
Kayleigh Quinn, with expertise as both an associate director at Cavendish Consulting and a Labour Party Organiser, gives insights into Labour’s Housing Strategy plans. Britain’s housing sector faces numerous issues, and the Labour Party’s upcoming Manifesto promises a dramatic overhaul with hopes of spurring economic growth during this housing crisis. People are eager to see…
Tax-Deductible Renovations for Rental Properties
When renovating your rental property, it’s essential to ensure you’re taking advantage of tax-deductible renovations. Obviously you should first focus on necessary maintenance and updates to attract good tenants, but also keep track of allowed maintenance costs for tax purposes. Replacing fixtures with equivalent items helps maintain functionality and offers tax advantages. Capital improvements however,…
7 Reasons for Suing Your Rental Property Management Company
As a tenant, if your rental property management company violates your lease terms, overlooks repairs, creates unsafe conditions, wrongfully uses your security deposit, discriminates against you, invades your privacy, or turns a deaf ear to your grievances, you might have the right to sue them. Make sure to record any contract violations and security issues,…
Solving the 2024 Housing Problem
As the elections draw near, housing has become a central issue, which isn’t surprising given the current economic volatility and the historical trend of housing leading economic recoveries and recessions. There are early signs of improvement with slight upticks in property prices and mortgage approvals, but significant reforms are required to overcome the recession through…
People Renting Homes Are Staying Put Longer
Due to the climb in rental prices, tenants are choosing to remain in their current homes for extended periods, according to research from The Deposit Protection Service. The typical rental agreement is now 924 days, which is just over two and a half years. This is a significant increase from 706 days, or nearly two…
Growth in Rental Income Across Regions
The rental sector in England and Wales is seeing a notable increase, with landlords enjoying higher rental income returns on their rental properties. This surge corresponds with a continuous rise in demand for rental homes, which highlights the buy-to-let sector’s stability and appeal. We’ll look at recent statistics from Dataloft to better understand how rental…
Hampshire Trust Bank Offers £20m Refinancing for HMO Portfolio
The portfolio in question comprised 32 student residences designated as Houses in Multiple Occupation situated in a city known for its prestigious university. The client, who owns a large property enterprise, sought to refinance their 32 HMO properties and procure upwards of £4m in funding for upcoming property ventures. They also planned to carry out…
Union Investment Lease Office Space in Amsterdam’s ITO Tower to HabrakenRutten Advocaten
Union Investment has entered into a long-term leasing contract with law firm HabrakenRutten Advocaten, who will take up residence in the ITO Tower’s 10th floor in the heart of Amsterdam’s Zuidas by mid-2024. The ITO Tower’s prime location, mix of tenants, and range of dining and hospitality services contribute to its appeal. Since acquiring it…
Aspen’s Success in the High-End London Property Market
Aspen, a lender that became prominent in the high-end London property market in 2023, completed a Development Exit loan valued at £3,650,000 at a 70% Loan-to-Value (LTV) ratio. This loan supports a luxuriously updated three-bedroom duplex in Belgravia, allowing the developer extra time to sell the property which is currently being negotiated. The Development Exit…
Can You Live Solely on Rental Income? Here’s the Breakdown
Today, with uncertain financial markets and new economic dynamics, many wonder if they can completely rely on income from renting out properties. Rising homeownership costs and the evolving work landscape have prompted questions about the practicality of depending on rental income as a single source of livelihood. Yes, living on rental income alone is achievable…
Handling Tenant Misconduct as a Landlord
If you’re a landlord, you know that managing a property involves more than just upkeep – you also need to create a peaceful environment for your tenants. Sometimes, this means addressing disruptive behaviours. This article explores what tenant misconduct can involve, and provides useful tips for landlords on how to handle such situations. What is…
Tips for Increasing Buy-to-Let Profits in Today’s Market
Did you know that the buy-to-let market launched almost the same time as the Spice Girls, around 28 years ago? Many people are surprised when they learn that prior to 1996, there was no such market like we see today. Before the emergence of buy-to-let mortgages, renting was mainly a social activity with a minor…
Tips for Attracting High-Quality Tenants
For landlords, securing responsible and reliable tenants is key to ensuring a smooth tenancy and maintaining the value of your investment. Reliable tenants are more likely to pay rent on time, take care of your property, and contribute to an uncomplicated landlord-tenant relationship. In this article, we’ll explore strategies to draw in the best tenants…
NRLA Advocates for Changes to Housing Benefit Rules
The National Residential Landlords Association is urging the government to increase Universal Credit amounts to address current payment deficiencies. Currently, 1.5 million private renters use Local Housing Allowance to help with their rent. However, 64% of these tenants are experiencing a gap between this allowance and what they must pay each month for their rent.…