We are often asked about what can and cannot be offset against revenues in relation to a residential buy-to-let investment. This can be a complex area, and we always recommend landlords seek specialist tax advice. However, generally speaking, anything that could be regarded as a capital investment rather than an operational or maintenance cost cannot necessarily be offset against tax in its entirety. For
Possibly prompted by a lack of supply, increasing numbers of home movers are renting as an interim measure prior to buying their next property. It can be tempting to stay put until the right house comes onto the market. However, many people who have done this, and who find the right onward property, then find themselves in a position of not having sold their
As a landlord you’ll want to minimise the time your property is empty between tenancies (what we call the void period) so it is essential that your property is looking its best for showing to new tenants both in terms of condition and cleanliness. Although a tenanted property should be redecorated from time to time, tenants are allowed fair wear and tear and it
When letting your property, you naturally want your property to look its best, but how far should you go in terms of presentation? Firstly, aim to understand how your property “sits” within the market. Not all tenants have the same criteria, so walk through the house with your letting agent to identify your property’s strengths and weaknesses. Look through the eyes of a typical
There is clearly a balance to be had between profitability and compliance for landlords, who are again coming under increasing pressure from legislative changes. Here are our top four current issues that you really should know about: 1: Mortgage Applications for Landlords. New lending criteria for landlords mean that lenders are now obliged to take into account all properties in your portfolio – not
The tightening of the mortgage market has created opportunities for vendors who are understandably tempted to consider letting as a lucrative alternative to a sale. Despite the Help to Buy scheme, the dearth of mortgage availability has meant that fewer would-be purchasers are able actually to buy. They are therefore forced to rent if they cannot secure the mortgage they require. This in turn
Finding a Tenant – The Need for Speed According to the Nottingham Building Society, about 21% of Buy to Let landlords do not secure a paying tenant within four months of completing their investment purchase. 53% waited for two months and the average void period was one month after completion. This should ring alarm bells for landlords. We suggest these delays should be unacceptable
For many homeowners, letting provides and obvious investment opportunity as an alternative to selling. With the right expert help from your letting agent, the matter should be quite straightforward, although there are certain consents that should be obtained if you are to avoid some potentially costly problems. You will certainly need the consent of your mortgage provider. They are unlikely to object, but you
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