News & Blog

The UK is experiencing an upsurge in the sale and purchase of tenanted properties but is the trend just a fad or a viable option for property investors? A tenanted property is one sold with tenants currently living there. The removal of tax relief for buy to let finance costs has led some landlords to […]

Landlords, Buy To Let, News

Tax in La La Land – Landlords Hearing Little Sweet Music

By Donald Parbrook, Head of Tax, Milne Craig, Chartered Accountants Landlords may be forgiven for feeling like the new changes in tax rules were made up in La La Land. Certainly the changes are music to the ears at the Treasury. It seems both Scottish and English Governments have little or no interest in making […]

Landlords, Legislation

Immigration checks are coming – What do you need to know?

Immigration checks are coming – What do you need to know? Many landlords carry out checks as a matter of course but from February, in England, Right to Rent checks become a legal requirement. For most, background checks on new tenants are an expected part of the moving in process, but these are about to become law. […]

Landlords

Would you know if your tenants were subletting?

Would you know if your tenants were subletting? The National Landlords Association has announced that 50% of subletting happens without landlord consent. This is a huge number, and could become an issue if not addressed. Here’s our guide to prevent and spot subletting. The issue Unauthorised subletting can lead to cramped living conditions. Too many people living in one space can be uncomfortable and dangerous, as well as breaking licensing laws and invalidating insurance. A clear statement within your tenancy agreement about your policy on subletting, is great but no assurance that tenants won’t continue to do so without asking permission. Therefore it’s important for tenants to understand the weight of subletting. How to stop subletting Educating Tenants Setting out your expectations from the start is important. Discussing your subletting policy with tenants at the start of their tenancy, rather than relying upon them reading a hand book or tenancy agreement is smart. Outline how to address requests to sublet. Focus on the importance of communication rather than isolating tenants by focussing on potential penalties. Taking headshots of tenants when they move in allows you, or whoever is inspecting, to quickly identify who should be there. This practise also creates a good opportunity to address (and stress) your policy on subletting. Property Inspections Property inspections are always important, and can save you money in the long run. Regular visits to your property help to identify if anyone other than the agreed parties are living there. Although this could become a strenuous task for landlords who manage multiple properties, these findings mean that it’s a necessity. Diaries are the most effective way to keep track of property visits. Using one will ensure you are inspecting each property regularly, and is a good way to keep notes together. Visits are your main opportunity to look for any signs indicating that extra tenants are in your property. Stay well informed on the actions you can take if you do discover subletting. This will hopefully allow you to put a stop to the problem before it becomes worse, saving you time, money and hassle.

Landlords, Hints & Tips

Landlords, is it worth setting up as a limited company?

Landlords, is it worth setting up as a limited company? Property is one of the most accessible forms of investment, and an area most people feel comfortable in. Although it’s familiar territory there can be a big jump between owning your family home, and running a successful property portfolio as a landlord. Running a limited […]

« 1 … 4 5 6

Landlords, Buy To Let, Investment, Tenanted Properties

Pros and Cons of Buying Tenanted Properties