Ask us how you can stay up-to-date with all the property legislation
Whether you’re an experienced landlord or considering buying to let for the first time, there’s a wealth of regulations and property legislation for you to know about. What’s more, legislation is often updated and new laws are introduced – and you’re expected to keep up with it all so that everything is above board and your assets are protected.
There is much to consider but we are always happy to help and offer our expert advice and service. Here are several of the key legislation changes you need to look out for in the coming year…
New rules on tax relief for landlords with holiday lets
The current laws allow people with second homes in England to access small business rates relief and apply for council tax discounts just by declaring an intention to let a property as a holiday home. But from the start of the new financial year (1st April 2023), to qualify for business rates, second homes must be rented out for at least 70 days a year and available to let for at least 140 days. The aim of the new legislation is to ensure only genuine holiday lets benefit from tax relief.
Changes to the Energy Price Guarantee
As the cost of energy rose during 2022, the Energy Price Guarantee helped households save around £900 on their bills, reducing the average yearly bill to about £2,500. From April 2023, this guarantee is changing, and there will be a slight decrease in support available. The new terms should still save households around £500, cutting the average yearly bill to £3000. How this affects landlords is explained on the government’s website.
Changes to required EPC ratings of commercial properties
As of April 2023, all commercial properties must have a minimum ‘E’ rating – and there are further plans for this to rise to ‘C’ in April 2027 and ‘B’ in April 2030.
Renters Reform Bill
The government white paper, ‘A Fairer Private Rented Sector’, was published in June 2022. Proposed changes include:
- Ending no-fault evictions
- A digital property portal for private landlords
- Better dispute resolution through an ombudsman scheme
- Applying the ‘Decent Homes Standard’ from the social rented sector to the private sector
The Renters Reform Bill is to be introduced before spring 2023, but it takes around a year for a Bill to become law, so there’s unlikely to be any legislation changes before 2024. This does mean, however, that landlords have time to influence what the final Bill looks like, so it’s one to keep a close eye on.
We understand that being a landlord is often a full-time job, and keeping up with changing laws and legislation can be a demanding part of it. If you’re lacking in time, new to being a landlord, or would prefer to leave the legal aspects of your role to the experts, our qualified team are happy to help.
Call us today for a friendly chat and we’ll discuss the options for a fully managed or concierge service and how we can save you time, give you peace of mind, valuable advice and ensure you stay up-to-date on the laws and legislations.
We know many of you have property questions you’d like answered – and we’re encouraging you to “Ask away…”
Whether you’re looking to release capital, reinvest, refinance your portfolio or simply want to discuss your options for the best yields and locations, we want you to “Ask away”. Whatever your question might be – whether it’s a quick query or a more complicated one – we’re here to offer help and reassurance.
P.S. We can answer questions such as:
- Ask us what the ideal property tenure is and why it matters
- Ask us how to get your portfolio valued
- Ask us how how to ensure your rentals are at maximum profitability
- Ask us what locations can obtain the best yield
- Ask us how to efficiently expand your property portfolio
Tailored services for landlords
We offer a flexible approach to letting and property management, allowing you to choose exactly how hands-on you want to be as a landlord. We can simply find high-quality committed tenants, or we can provide a full management service, giving you peace of mind that your investment is in the safest hands. Our experienced lettings team are up-to-date with the latest regulations and legislation concerning the rental sector, so you can be sure you’re receiving expert guidance.
How we market your rental property
Our comprehensive marketing services are designed to showcase your property and attract high-quality tenants:
- 360° Virtual Tour that lets potential tenants do an online ‘walk-through’ of your property
- Professional photography
- EPC charts
- Advertising your property on Rightmove, Zoopla, Prime Location, and social media
How to get started
Any property questions you have, no matter how big or small – simply ask away!
Let’s discuss your options to ensure you continue moving in the right direction. Speak to our team on 01903 213111, find your local office, or request a free valuation today.