Do you need to pay inheritance tax on property When someone passes away tax is charged on their estate which includes money, possessions and property. In most cases the deceased’s estate will cover the tax liability, you may be required to pay if the estate will not or cannot cover the charges. You will need
As a landlord, you may well be used to dealing with tricky tenants who are consistently late with payments but what do you do when a once-reliable tenant experiences unexpected financial difficulty? As changes have come into place in order to tackle the coronavirus pandemic, many workers have lost their jobs or have been furloughed
As a landlord, maintaining healthy, safe and compliant properties for your tenants is already an important responsibility that comes with your profession. However, landlords that let properties considered to be houses in multiple occupation (HMOs) have additional expectations to fulfil. Your property is classified as an HMO if at least three tenants live there—forming more
Thinking of property letting? Here’s what you should consider before you do. Be prepared to work all hours Being a landlord is not a 9-5 job and while there will be plenty of days where you can dictate your own schedule, there will be many others during which you will be pushed and pulled in
Following on from the government’s initiative to improve standards in the rental sector, tough new rules for electrical inspections have been introduced. These are intended to offer greater protection for tenants in private rented accommodation. These rules serve to ensure that landlords arrange electrical inspections that are conducted by competent and fully qualified inspectors, with
Stepping onto the property ladder is becoming increasingly difficult and figures suggest many millennials will rent for the rest of their lives. This means that it’s a good time for property owners to sustain their venture or expand their portfolio, especially with the current availability of Buy-to-Let mortgages in place. That being said, maintaining positive
40% of those asked in a survey from property finance lender, LendInvest thought that the national economy would have the biggest impact on house prices, followed by 24% who thought political developments, such as Brexit, would have an effect. Shortage in housing supply was the concern given by a fifth of respondents, and 16% focused
Rules are made to be broken, right? That’s certainly implied by 1 in 7 renters, who admit to “bending” the rules of their tenancy agreement. According to recent research, 15% of renters have broken a rule outlined in their contract. Failing to pay rent on time, smoking inside and keeping a pet came top of
As a residential landlord, you tread a fine line between actively maintaining your property while leaving tenants to live in peace. What is a landlord’s right of entry? Tenants are likely to regard the property as their home. Under “the covenant for quiet enjoyment”, UK law entitles tenants to enjoy the property without interference from
As a nation of pet-lovers, the ability to keep a pet can be make-or-break for British renters. For landlords, the pros and cons can be complicated. Private rental agreements often ban animals by default. Now, as part of a package of proposed animal welfare measures, Labour has suggested tenants’ rights should be strengthened to allow
