One third of British homeowners to rent out their homes online
A brand new study looking into ‘home hosting’ has revealed that as many as one third of British homeowners have been inspired to rent out their homes to paying customers. Homeowners living in the South East, North West and Wales are the most likely to be intrigued by the potential financial opportunities associated with becoming […]
Homebuyers refunded £160m in over-paid stamp duty
According to the latest figures from HMRC, stamp duty rules designed to clamp down on buy-to-let landlords have landed ordinary homebuyers with unexpected tax bills totalling over £160m which have then had to be refunded. Higher rates of stamp duty land tax (SDLT) were introduced in April 2016 for those purchasing properties in addition to […]
How Universal Credit hurts landlords
Universal Credit (UC), a monthly sum paid to people who are unemployed or in low-income jobs, is set to change the way that landlords are paid rent by tenants who receive benefits – and not necessarily for the better, at least from the landlord’s point of view. UC is designed to simplify the benefits system. […]
Landlords to be fined £5,000 for trying to charge tenants letting fees
Draft legislation being published on Wednesday will ban letting fees for tenants in the private rented sector in England, with a fine of up to £5,000 for landlords who try to charge them. Landlords who breach the ban twice in five years could face criminal prosecution or a civil penalty of as much as £30,000. […]
Rental deposits to be capped at six weeks rent
The security deposits that tenants leave with landlords or their letting agents will be capped at no more than six weeks rent instead of four, as previously proposed by the government, it was announced yesterday. The details were included in the publication of the draft Tenant’s Fees Bill. The cap on security deposits was initially […]
Fines for letting agents could hit landlords
Letting agents could face prosecution or a fine of up to £30,000 if they breach a proposed ban on letting fees. The tough new measures have been published in a draft bill introduced to parliament today (1 November) with the aim of helping millions of renters by stopping agents from charging costly upfront payments. Estate […]
Government publishing Bill today to ban lettings fees
Lettings agents will face civil and criminal charges for flouting a ban on fees, the Government has revealed as it finally prepares to unveil its Draft Tenants’ Fees Bill today. It will create a civil offence with a fine of £5,000 for an initial breach of the ban, and create a criminal offence where an […]