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A well-planned buy-to-let can be an excellent business model, but a badly prepared one can end in disaster. One of the biggest dangers is taking on a mortgage you can’t cope with, leading to debt, default and the loss of all your assets. From the 30th September, though, the Bank of England’s Prudential Regulatory Authority arm will be cracking down on buy-to-let mortgages to make sure borrowers don’t overreach themse

Since 2007, residential landlords failing to register a deposit taken from the tenant can be fined. Perhaps more seriously, though, they can have problems recovering possession of the property. Here are some of the main points. The Landlord’s Obligations Under section 213 of the Housing Act 2004, when a residential tenant pays a deposit for an Assured Shorthold Tenancy, the landlord has thirty days to register it wit

    As a landlord, you have the right to evict tenants from your properties. However, there are many rules and regulations you must follow to ensure you do this lawfully. For example, you can’t just knock on a tenant’s door and demand they leave the premises right there and then. There’s a whole systematic process that needs to be followed before an eviction can legally occur and the easiest way is to

The Ministry of Justice has issued new regulations governing the process for recovering debts. The Pre-action Protocol (PAP) will come into force on 1st October 2017, and it’s vital for anyone involved in debt recovery to be familiar with it by then. What is the Pre-action Protocol? The stated aims of the PAP include to “encourage early engagement and communication between the parties… enable the parties to resolve t

Rogue landlords in London are now going to be named and shamed online. A recent survey showed that 60% of renters in London live in properties with serious issues that landlords have a legal obligation to address. As part of a push to deal with this, the Mayor is launching an online list of residential landlords who have been convicted of illegal practices This shouldn’t worry conscientious landlords. In fact, it cou

The house has put the initiative in the rental market firmly in the hands of landlords, and while many act responsibly, there are enough exceptions to create a problem. A recent survey revealed that 60% of London’s private renters suffer from leaks, inadequate heating or infestations, with little choice but to put up with it. However, London is now set to take a leaf out of New York’s book and start naming and shamin

In last year’s Autumn Statement, the Chancellor announced the Government’s intention to ban letting agents from charging fees to tenants. These charges, for everything from collecting references to administration costs, can add up to as much as £800, in addition to the deposit and rent in advance. This has been welcomed by tenants groups, but both landlords and some conservative MPs have expressed doubt about the pro

If you’re a buy-to-let landlord renting out residential property, you should be aware that the rules for tax relief changed significantly on 6th April, but surveys suggest that very few landlords are. Since the changes will substantially reduce your profit, it’s vital to know what’s happening, and to take what action you can. What Are the Changes? Various types of tax relief have traditionally been available to indiv

On the 6th April, new measures were introduced to penalise residential landlords who aren’t compliant with duties set out by housing legislation, notably the Housing Act 2004. Although no new obligations have been introduced, the consequences of neglecting existing ones have been significantly increased. Local authorities now have the power to impose direct financial penalties on landlords who breach the Act, rather

Earlier this year, the government introduced a new measure that transferred to landlords the responsibility if ensuring that tenants have the right to live in the UK. At the time, it seemed rather like the government passing the buck to landlords already tangled up in red tape. Now that, for good or bad, we’ve voted to leave the EU, could this create even more difficulties for landlords? The New Scheme The measures,