The Prescribed Information is a set of information that landlords are legally required to provide to their tenants, as well as anyone who has paid a tenancy deposit for an assured shorthold tenancy. The Housing Act 2004 outlines the two main requirements that landlords must meet when taking a tenancy deposit: Secure the tenancy deposit with a government authorised tenancy deposit scheme within days of...
As a beginner landlord in the UK, there are many things to consider before renting out your property. From finding the right tenants to managing your finances, being a landlord can be a complex and challenging task. In this blog post, we'll provide some tips and insights to help you get started on the right foot. Understand the legal requirements Before you start renting out your property, it's...
You can rent furnished or unfurnished properties in the United Kingdom. Investing in real estate and being a landlord comes with pros and cons, and which option you choose will depend on your own investment strategy and preferences, the characteristics of your property, and how actively you intend to manage it. In any case, for those property owners who choose to let their properties furnished, it is...
Pets are now allowed by default in the government's model tenancy agreement. Parliament is currently considering the proposed Renters Reform Bill. Several changes announced in the Renters Reform Bill white paper will ease tenants' ability to keep pets, including allowing them to request a pet and permitting pet insurance payments. Under the Tenant Fees Act 2019, landlords cannot request certain fees...
It is possible to invest in property in many ways, including buying a house to live in, renting it out or using it as a furnished vacation home. Tax minimization can look very different for each option. Buy-to-let property investments There is generally no difference in tax treatment whether you own a single property or a large portfolio of properties through direct ownership. Taxes that affect...
Recently, the British public has witnessed a new head of state, a new government, and an increasingly worrying economic environment. On Friday, September 23, Kwasi Kwarteng, the current Chancellor of the Exchequer, announced a not-so 'mini-budget. There were a number of ways in which the budget exceeded expectations, including wholesale reductions in tax and politically contentious changes to IR35...
A change has been made to the Smoke and Carbon Monoxide Alarm (England) Regulations. It is expected that the regulations, originally enforced in 2015, will be amended from 1 October 2022 and will apply to both private and social rental properties. The following requirements will apply to all landlords: 1. Ensure at least one smoke alarm is equipped on each storey of their homes where there is a room...
Rent yield and capital gain are terms you may have heard many times if you are thinking about becoming a landlord, but what exactly do these terms mean? Although you may have been a landlord for a while, you may still be somewhat confused by the exact definitions of these terms. We have compiled some top tips outlining the two most important aspects of the lettings process to help you get started. A...
For anyone renting a property, whether it is their first rental or they are moving from one rented residence to another, raising a deposit is a major concern. The deposit is typically equivalent to five weeks' rent, and according to the Tenancy Deposit Scheme, the average deposit in England and Wales is £1,041. In London, the fee is much higher, at approximately £1,750. In recent years,...
Investing in property involves spending your money wisely and earning a reasonable return. When it comes to a buy-to-let investment, the property market is not for the faint of heart. When considering renting out your home, you may be unsure whether to rent it as a holiday home or as a long-term residence. Several factors should be considered when making this decision, and this article may assist you...