LANDLORD NEWS AND ADVICE FROM UK'S LARGEST ONLINE LETTING AGENT
The latest from the world of lettings and written for landlords. Top stories, advice, commentary and analysis...
Keep the discussion lively, if you read an article and have some thoughts, please comment. We’re always looking for new landlord tips and stories so if you have something you’d like to share please let me know, simon@upad.co.uk (editor).
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Archive for the ‘Legal’ Category
Guest Post: don’t trip up!
Direct Line Landlord Insurance have given us some invaluable tips to help keep your property safe for your tenants and avoid claims against you... Stairways can be a risk for both tenants and landlords. About one-third of injuries reported to our landlord claims team come from trips or falls down stairs. Make sure your staircases; have handrails that are fitted properly and... Read more
Big EPC changes coming in New Year
From 9 January 2013 all sales or lettings advertisements in the commercial media should show the EPC rating of the property being advertised. There is no requirement to display the full certificate but where there is adequate space, the advertisement should show the A-G graph. As soon as a building is in the process of being offered for sale or rent, it is the responsibility of the seller or... Read more
Guest post: smoke and heat alarms – are they necessary?
There is a compelling case for landlords to fit interlinked smoke alarms (and heat alarms for situations where they can’t be used), as leading alarm manufacturer Kidde Fyrnetics explains. In Scotland, this is already a legal requirement in all rented housing, with at least one alarm on each floor, and the UK government is considering similar measures. Registered HMOs (Houses in Multiple... Read more
What you should know about property inventories
An inventory is a report that details the condition of the property at the start and end of a tenancy. It is signed by both the tenant(s) and the party carrying out the inventory check (usually an inventory clerk). Things included in an inventory: • exterior of the building; • furnishings (i.e. sofa, washing machine, TV); • property particulars (i.e. doors, windows, skirting... Read more
Grounds for evicting your tenants
Top Tips Your tenant has to be in arrears by at least 2 months before you can serve notice. If you want your property back after a tenancy, you need to serve notice 2 months before it ends. To evict your tenants, you must serve either a Section 8 or Section 21 notice. You want the property back The most straight-forward ground for eviction is simply that you want the property back when... Read more
Tenancy deposits
A tenancy deposit is a sum paid by the tenant that must be legally held in an officially recognised deposit scheme for the duration of the tenancy. It is used to guard against: damage to the property, unpaid rent and other unpaid costs that are the tenant’s responsibility. Top Tips: Register your tenants deposit or you could be fined 3 times the deposit amount. Get an inventory of... Read more
What you should know: landlord & tenant rights
These are covered in the tenancy agreement, but here are the main ones in a nutshell: Landlord rights To repossess the property if the rent remains unpaid for 14 days or more, or where the tenant breaches the terms of the tenancy. To exercise the break clause if one is included in the contract. To access the property after giving reasonable notice (usually 24 hours). To seek possession... Read more
Tenancy agreements: everything you need to know
A tenancy agreement is a contract between a landlord and a tenant that gives permission for a tenant to live in a property for a certain period of time as long as they abide by certain rules. As a landlord you need to make sure you have the right agreement for your property to be properly legally protected - one that is appropriate for the type of let, covers any special requirements for your... Read more
Portsmouth landlord fined £12,000 for sub-standard housing
A Portsmouth landlord has been ordered to pay £12,000, for letting an unsafe house. The student accommodation in St James’s Street, Portsea had sleeping accommodation that was too small and cooking facilities that were sub-standard. Fareham magistrates’ court found the company guilty of failing to comply with two housing prohibition orders, and failing to provide Portsmouth City Council... Read more
£100k lettings agent fraudster escapes jail
A lettings agent who defrauded tenants to the tune of £137,660 has escaped a jail sentence. Brandon Weston of Premeier Places Lettings located in Worcester and Redditch used tenancy deposits from 203 tenants to fund other business projects. Weston pleaded guilty to four counts of fraud between 2007 and 2009. An accomplice, Chris Williams, pleaded guilty to three counts of forgery. Weston... Read more
New HMRC tax guidance on rental income
In 2011 new guidance was made available by Her Majesty's Revenue and Customs (HMRC), related to taxation on income from property. The information is published in the Trusts, Settlements & Estates Manual (TSEM) at TSEM9000 to 9978. The information was new information; never before been available in an HMRC manual and it represented a big change for UK investors and landlords. Topics... Read more
Coroner calls for tougher smoke alarm laws
West Sussex coroner Penelope Schofield has called for tougher laws requiring landlords to fit smoke alarms inside rental properties after a woman died in Lancing. Mary Moss, 64, was killed in a blaze at her rental flat last august after dropping a match on the floor. Although she had a battery powered smoke alarm in the flat, it had no battery installed. Schofield says she will be writing to... Read more
Another daft idea… Conservative calls for register of tenancies
John Moss, Conservative candidate for the London Assembly has proposed an online register of all private tenancies, believing it to be preferable to a register of landlords. Tenants and landlords would also be encouraged to rate each other under the scheme. Moss also says that the register would help the HMRC collect tax revenues from landlords. Moss says: “Tenants can look up a property to... Read more
Ask Upad: Do I need a special bank account for my landlord earnings?
Q: I rent out a 2 bedroom flat in London. I receive the rent by bank transfer monthly into my personal bank account. Do I need a special bank account for my landlord earnings? In particular, I don't want to incur the expense of a bank account if I can avoid it. A: There are no legal requirements to have a specific, dedicated bank account for your landlord earnings. It's perfectly permissable... Read more
Student tenants: What’s fair wear and tear?
Exams are looming and the dissertation's done. For students, the academic year is almost over and soon students up and down the country will be moving on or back home and leaving student digs. And one thing every student wants is their deposit back in full. We have a couple of tips to help you. Plenty of tenants (and doubtless quite a number of landlords and lettings agents too) think that a... Read more
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Recent Comments
- David Lawrenson: Good piece Freeholds are more valuable to buy and sell (among people who did this sort of thing) if...
- David Lawrenson: James, Good piece but why do Shelter fail to mention the rather important fact that lenders’...
- John Gell: Non-paid utility bills need not concern a landlord and it is not lawful to hold deposit money against...
- Maggie: We once had to install 2 Miele washer/dryers in 3 years for tenants and the original one was a Miele –...
- Sharon Bilsby-Vint: I only ever install Miele Washing Machines in all my rented properties for peace of mind. (I even...
