The financial advantages which came with buy-to-let mortgages collectively saved landlords a lot of income tax over the years. So how does mortgage tax relief works?
Welcome along to the next in our interview series where we capture insights from notable property people. Today, our spotlight is turned on Peter Littlewood, of landlord association iHowz (formerly known as the Southern Landlords Association).
A recent study revealed that rent rises are set to overtake house price growth in the next five years, with tenants facing a 15.9% increase in rents, in comparison to 4.5% growth in house prices.
As it stands the UK will leave the EU on March 30. Though given the current political turmoil that could conceivably change. But how can private landlords prepare for life after Brexit? Assuming it goes ahead.
.jpg)
Very often the tenant won't even inform you they've done this. But what do you do if you discover another person in your property? Should you do anything? Where do you stand legally and what are the implications of your tenant moving someone else into your property?
The Government have announced that the Tenant Fees Bill will come into force on June 1st 2019. This piece of legislation will place a ban on letting agents and private landlords charging fees to tenants in order to set up a new tenancy or renew an existing tenancy.
For any private landlord picking the right buy to let property is essential. When you're investing such a large sum in your business you need to know you're picking the right property to make a profit. You'll look at location, the local market and of course the purchase price.
Whether you have a portfolio of properties or are a reluctant landlord you're running a business. And if you're running a business you need to be filing a tax return. If you haven't already done so, now is the time to get everything in order. Whether you file your own return or use an accountant the deadline is looming.
In the UK owning your own home has always been an aspiration. It's seen as an achievement to buy your own home. But is that an outdated view? Do young people still have the desire to buy their own home? Many no doubt still do aspire to buy a house. But many people of all ages now prefer to rent. Indeed, the private rental sector has never been so strong. This is great news for private landlords of course. But why do some tenants prefer to rent rather than buy?
.jpg)
It's fair to say that when they advertise their property few private landlords immediately think of including a floorplan. A landlord will typical spend a long time agonising over the words to use in their ad. They'll spend even longer trying to get the best photos of their property. Or they will pay a professional photographer to take the photos instead.
Council tax shouldn't be an issue for private landlords. Yet it can sometimes turn into a messy situation when a tenant doesn't pay their bills. Especially when the landlord starts receiving letters from the local council threatening recovery action. But what should you do if you find yourself in this situation?
Whether or not to give your tenant a Christmas present seems a simple enough question. But it's one which does divide private landlords. Yet there is evidence that gifts to tenants can bring benefits to the landlord.
