New Legislation for Rentals — What You Need to Know as a Landlord

If you’re a landlord, you’ll know how fast the rules have been changing recently. It’s not over — several new laws and regulations have either been passed recently or are being considered. So what do you need to know? The Tenants Fees Act 2019 This received the Royal Assent in February, and its provisions will be applied from the beginning of June. Under the Act, landlords will only be permitted to ask for certain pa
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New Technology to Make Rent Collection Easier

Most landlords are familiar with “that” tenant — the one they’re constantly having to chase up for overdue rent. Recent research suggests that 68% of landlords have experienced problems with rent arrears and late payments, but a new application could make it harder for tenants to miss payments, while at the same time rewarding the more conscientious among them. Late Payments Many tenants will once or twice in their t
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Personal Debt Growing

  Personal debt fell sharply in the wake of 2008’s financial crisis, but figures from 2016 show it’s growing again fast. Mortgage borrowing and unsecured loans have risen, with the average household owing a record figure of £12,887 even without mortgages. Record Household Debt Both the British Bankers’ Association and the TUC have highlighted sharp rises in personal debt in the closing months of 2016, with the B
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New Restrictions on Buy-to-Let Borrowing

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
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Tenancy Deposits — Make Sure You Don’t Get Caught Out

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
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How to evict a Tenant

    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
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Naming and Shaming London’s Rogue Landlords

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
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New Penalties for Residential Landlords and the New Tax Year

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
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Keeping Your Business Out of Trouble

We’ve all read it over the past few months, banks, phone companies, and goodness how many other institutions have been hacked. Daily scams are becoming the norm; and every day seems to add to the problems small businesses are facing, myself included. I have written before about protecting your business with contingency planning and I make no apologies for repeating my concern. Remember to check this on a regular basi
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Will Brexit Make the Landlord’s Job Even Harder?

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,
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