Reeves Argued For Licence Scheme in Leeds / Now Claims She Did Not Know The Rules!
HMRC Estimate Cost And Benefit of MTD For Landlords
More Licence Conditions Issues
Landlord Sell-Offs Fuel Housing Crisis
Rental Market Stabilising or Shrinking
Reeves Argued For Licence Scheme in Leeds / Now Claims She Did Not Know The Rules!
HMRC Estimate Cost And Benefit of MTD For Landlords
More Licence Conditions Issues
Landlord Sell-Offs Fuel Housing Crisis
Rental Market Stabilising or Shrinking
Are you fed up of tenants who complain about damp yet when you check their extractor is turned off or taped over? Many extractors when not running (and most older ones only run when the light is on) are effectively a hole in the wall letting in cold air - so no surprise that tenants trying to keep warm while minimising bills disable them.
Either put a cover on the outside, one with flaps that close when the extractor is not running or fit a back draft damper in the ducting - both solutions are cheap and effective - especially if the alternative is an argument with the tenant about why they have mould / how to stop the condensation, etc.
Renters Rights Debate Reaches New Low
Big Changes For Leaseholders and Service Charges Ahead
Government Fail On Housing?
Did you know heat pumps cost a fortune and won't work in old houses? Well that may no longer be true. I was faced with a boiler replacement (£2-3,000) and I spoke to the heat pump guy at Covers (they have their own installers now) - he put together a quote to remove old boiler, install heat pump and reroute all necessary plumbing and add a tank in the loft and the price was half what I was looking at for a boiler. Yes, the installer gets a £7,500 government grant - but that is all on his side - all you do is place the order and pay Covers the net amount which in my case was just over £1,000. If you want contact details, let me know
More Taxes For Landlords?
Changes to UK Data Laws - Implication for Landlords
What the Renters Rights Bill is really about
If you have finished the 'expansion stage' of your landlord journey and are now focussed on managing and operating your portfolio without plans to extend further - last months reduction in bank base rate is an opportunity not to be missed if you have mortgages. Even if they are interest only, continue paying the same monthly rent as before the rate drop and slowly, over time, you will see your LTV decrease and your asset base increase without doing anything you weren't already doing, which will make future mortgages cheaper as well as reducing risk and leveraging.
Local MPs blame PCC for HMO problems
When Will the RRB Come Into Force?
Decent Homes Consultation
In the absence of useful hints this month, a small smile if you wish to accept it:
Caller: Doctor, Doctor, I have had the shits all last week. What can I do?
Doctor: Only 5 more weeks and they go back to school
Selective Licensing Petition Builds Momentum
Has The Housing Bubble Finally Burst
An interesting suggestion came up at our breakfast last month - one member fed up of spending hours with dangerous chemicals trying to return a once pristine (pre-tenant) oven to its original state now throws out the old and replaces with new as it is quick and easy and costs little more than getting a professional cleaner in, and she argues that although it gets scrapped and recycled which has an environmental cost, it cannot be worse than the stuff she used to pour down the drain after cleaning a filthy oven.
National evaluation of home improvement services
e-Visa Changes
Landlord avoids 29k Rent Repayment Order After Tribunal Decision
The Building Safety Levy is coming
A member sent us a YouTube link about the Renters Rights Bill which announced that Section 21 would remain an option for landlords with less than 5 properties. We explained to the member that whilst it would be nice if it happened, this was an amendment that had zero chance of being adopted and as such, the YouTube 'expert' was completely wrong and his advice was grossly misleading.
So what is our tip this month? If you want entertainment feel free to use YouTube, but if you want to be properly educated, join your local Landlord Association.
- Renters Rights Bill - Thought From A Legal Perspective
- Accountancy and Taxation Clinic
- Updated Right To Rent Guidance
If you are going to change vehicles in the next few months, do it this month so any allowances can be claimed in this tax year as opposed to next.
David Smith wrote last week, "Demonstrating again that they are determined to move this on fast, the Renters' Rights Bill got its first reading in the House of Lords yesterday, just a day after finishing in the House of Commons. Second reading in the Lords, which marks the start of actual debate in the Lords is set for 4 February. I have previously said that this could be done by the end of March and that timeline seems to be right on current performance!"
Government Christmas Presents For Planning
Shelter says 1 in 160 homeless due to PRS rent increases
EPC Consultation - Have Your Say!
Landlord Sell Off Leaving Tenants High and Dry
And some dates for your diary:
If you have not filed your 23/24 tax return yet, you must do so before 31st January or risk significant fines. More from HMRC below if you did not receive it direct...
More HMRC training and support for landlords
Landlord cleaning costs allowed...
The problem with EPC's
Document everything! As our expert friend Richard Tacagni says, "Maintaining a full audit trail is so important when it comes to compliance" (We will update on how to keep and use txt messages, WhatsApp comms and other alternative media at our January meeting)
Economy 7 and Smart Meters
PDPLA Comments on Local Authority Responsibilities Picked Up In the Press
Tax Income Falls As Government Drives Landlords Away
New Right to Rent Guidance
Confused by the hundreds of articles on the Renters Right Bill? Let us summarise what is important for you, all in one place, and keep it up to date (so bookmark it) - find it here: UK Renters' Rights Bill - Portsmouth & District Private Landlords Association (pdpla.com)
Housing Review - 20 Years On
HMRC Training for Landlords
Massive Exodus of Disillusioned Landlords
- Where Next For Regulation Of The Private Sector?
- "Russian Roulette" Claims Over 2nd Homes
- Unintended Consequences of Scrapping Section 21
- Labours Renters Rights Bill vs the Tories Renter Reform Bill
- HMRC Payments Paid? So Unfair...
Have a block with parking spaces for residents? You may be able to claim back 75% of the cost of installing EV charging points through the Government's EV Infrastructure Grant. The scheme offers support up to £15,000 but is directed at SME's so you can only apply if your business is registered at Companies House.
Landlords launch legal challenge against 'unlawful' licensing scheme
Migration Cause of Housing Crisis
Renters Reform Bill Omits Decent Homes Standard
Landlord Insurance - just in case you missed the advice in earlier issues of this newsletter, ask for an excess of at least £1,000. It will reduce your premium by around £100 compared to the normal £250 excess and admit it, anything less than £1,000 is wear and tear and you are not going to claim anyway, so why pay for the privilege of being able to do so.
2nd tip this month: Given the rumours that Labour will rush through a removal of Section 21 without any of the necessary other elements that were in the Renters Reform Bill - if you were thinking you will need to issue one later this year. you may want to issue it now while it is still an option.
The end of HMO Licensing?
The Ideal Experience For A Heat Pump Customer..
eVisa Rollout
When a tenant moves in to an empty property and you notify the council tax team that you will no longer be liable for the tax and give them details of who to bill going forward, if there is any credit on your account they do not automatically pay it to you and you have to ask for it - one member, on realising this, was paid nearly £650 as a result.
Best Practice - Electrical Safety for Landlords
You Can Challenge HHSRS Decisions
If, like most small landlords, you operate as a sole trader or a partnership, don't forget that April 5th is the final day of the 2023-2024 tax year. Your self-assessment tax return doesn't have to be filed until 31st January 2025, but make sure all your record keeping is up to date so that filing is straightforward when you get around to it.
Disgruntled Landlords Threaten Licensing Boycott
Be Picky With Mortgage Brokers
Landlords Checklist Goes Viral
If you have a Mandatory HMO in Portsmouth and the licence is coming up for renewal, save yourself time, money and hassle and register it in Southampton. Their system is cheaper than Portsmouth, the admin is much easier, the standard required is basic and you can get a surveyor to do the inspection so the council do not need to. The law says you need a licence, as with taxis it does not state where you need to get it.
One member said, "We have just taken one on in Southampton and the fire panel looks like it belongs in a museum. They're not even bothered about a safety certificate for it. They have only asked for the EICR, GAS an PAT. And the emergency lighting is defunct but that is not an issue either. I can't get over how different it is."
Landlord to lose £643,000 leasehold flat after listing on Airbnb
Pressure grows to scrap licencing when landlord portal goes live
Gove criticises Fareham
Existential housing crisis leaves students struggling
Landlord average mortgage rises from £802 to £1,370 a month
Social Housing Fail - Worst Customer Service
Home Office Right to Rent Training
Don't think house prices rising mean you are storing up value - over the past 40 years, when adjusted for inflation, house prices have doubled but if you bought in 2007 you have lost 20% of your investment since then and that is before you factor in punishing capital gains liabilities, so don't run at a loss day-to-day thinking you will make it back when you sell.
How Buy To Let Bled To Death
House Prices Down 12% in Real Terms
Portsmouth's Equality, Diversity & Inclusion
Buy-To-Let Goes Into The Red
New Damp & Mould Regulations
If you have a small HMO or a 257 in Portsmouth you need to get your Additional Licence application submitted by 30th November.
Start now as it is an 84 page document (according to PCC staff) - you don't have to fill in all 84 pages but it will take you the best part of a day for each property even if you have everything you need ready in advance. If you are not sure if your property is a 257 or if it is a 257 that needs a licence - you are not alone - it is immensely confusing - we suggest you phone PCC (details on their website).
And do get along to one of our Licensing War Rooms - hopefully we can help each other.
Do you have a tenant suffering hot flushes? Unfortunately, not uncommon at this time of year. Do check your cistern has not been cross plumbed into the central heating circuit.
Portsmouth Landlords Fined Thousands
University Brings Langstone Halls Back From Dereliction
41% Less Properties To Rent in London
How To Get Repairs Done - New Gov Tool
If you have a 3 or 4 bed property in Portsmouth occupied by people from 2 or more separate families, it is probably an HMO and will need a licence before December - so get your accreditation details and everything else up to date before applying.
Home Office outbids councils for emergency accommodation
Portsmouth Water Putting Water Meters on HMOs
Portsmouth Planning 2nd Yellow Card - Is It All Over?
Where to start with Retrofit