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10 Pitfalls To Avoid When Selling Your Property

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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Wolverhampton Letting agents packs the room EVERY 3 months with landlords wanting to learn.

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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Landlords – Are you compliant with the latest Minimum Energy Efficiency Standards?

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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Landlord Rental Income Expenses

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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Landlords – how will the new Homes Act affect you?

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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New challenges for self-managing landlords in 2019

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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Tenant Fees Ban. How will landlords and tenants be affected?

1st May 2019

The new Tenant Fees Act comes into force on the 1st June 2019. So what is it? And how will it affect landlords and tenants?

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Extending a home without having to submit a planning application

2nd April 2019

Want to extend your home, or a property that you are planning to buy? Here's how to do it without having to submit a planning application. Permitted development rights enable homeowners to make certain building works on a property without planning permission from the local council and without approval from a neighbour.

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Client Money Protection Scheme will now be mandatory

29th March 2019

From 1st April 2019, it has become mandatory that all property agents hold a registered membership with a certified money protection scheme. This is by way of insurance for landlords and tenants, to prevent rogue agents from keeping back money from deposits and rents if something goes wrong. Let’s look at what this means for landlords, and what you should be looking out for when you employ an agent to manage your properties.

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Are you in danger of being banned as a landlord?

15th March 2019

Since April 2018, it has been possible to be banned from being a landlord. Not unlike facing a 12 month ban from driving if you break the law, as a landlord, you could now be stopped from letting out or managing properties for being found guilty of housing offences. It’s a pretty radical, although arguably necessary move, brought into play to crack down on rouge landlords and agents. So what does it mean, exactly, and how could it affect you?

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