27th September 2019
If you're thinking about buying a new home, you'll need to budget for more than just the deposit. It's a stressful time, saving! You work hard to put away savings each month and feel like celebrating when you have saved enough for that all important deposit. But don't get carried away too early, as there are other costs that you need to take into account! When you're working out your 'buying a house' budget, you also need to take account of the cost of buying, your mortgage fees and moving costs - on top of your deposit. It all adds up and can easily plunge you into debt if an unexpected bill hasn't been taken into account.
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4th September 2019
Buying property in Wolverhampton to rent over the last two decades seems to have gone full circle, as to what to buy and where, and again, there seems to be some great opportunities to be had, here in the midlands, let's explore where we have come from and where we are and how the buying opportunities have changed in that time...
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30th August 2019
In July the Government confirmed its plans to change the way that Capital Gains Tax (CGT) is calculated for properties that are part or fully let.
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12th July 2019
Buying and selling a home can be a stressful process, so it's important you are aware of the pitfalls that can cause a sale (or rental) to fall though. If you address these early in the process your chances of the deal going through is much greater. According to the NAEA (National Association of Estate Agents) Propertymark, these are the factors that most commonly cause issues..
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28th June 2019
There have been several reports recently suggesting that young people are opting to rent closer to where they grew up, rather than relocating to search out better job prospects. These same reports say that this is largely down to the steep rise in rent over the past 20 years – but how true are the claims, and what does it mean for landlords with properties in less affluent areas of the UK?
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14th June 2019
On a wet cold and windy night on the 12th June, local Lettings Agents Concentric (incorporating Lawsons) which have been renting and managing properties in the Wolverhampton area for nearly 30 years, ran its second seminar of the year, with one intention in mind… Educating landlords.
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4th June 2019
There’s no getting away from the fact that there have been a lot of changes in legislation in the lettings industry over the past year, not least updates in the law surrounding energy efficiency. This has been quite a big one, because there is currently a huge buzz around the need for us all to be more aware of our environmental impact, from the materials we use every day, to how we reduce the amount of energy in our businesses and in our households. So let’s take a look at what’s changed, and how we as landlords and agents need to look at energy efficiency within the properties that we rent out, along with the potential hurdles that might present.
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3rd June 2019
If you are a landlord or have a portfolio of properties, you can claim ‘wholly incurred’ expenses against your property income. Expenses must follow the standard HMRC guidance and the expenses must be exclusively for the purpose of renting out the property. HMRC provide a number of examples of allowable expenses including: If you buy a new vacuum cleaner for your own home, and also use it to clean your rental property between tenants, you can’t claim the cost of the vacuum cleaner as an expense against your rental income. However, you could claim the cost of any cleaning products you bought specifically for cleaning the rental property. Where costs are incurred partly for your rental business and partly for some other purpose you may be able to claim a proportion of that cost if that part can be separately identified as being incurred wholly and exclusively for the purposes of the property rental business.
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20th May 2019
On the 20th March 2019, we saw quite a significant change passed through law, called the Homes (Fitness for Human Habitation) Act. Due to the fact that the law was raised and passed within an unusually short timescale of just three months, it has caused some landlords confusion over what exactly it means, and what action they need to take to comply. Here we will talk about the legislation, how it has changed, and what you need to do next.
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15th May 2019
Being a self-managing landlord isn’t as easy as people might think. Over the past few years, it has become even more of a challenge – there are many legislations you need to know about, and those are constantly evolving and being changed and updated. If you are not completely savvy with all of the legislation that you need to comply with, you could be facing some pretty hefty fines. But there are two in particular that are causing confusion with landlords currently, and those are the ones we will focus on here, because both of them will affect you as a self-managing landlord.
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