Renting by the room has seen a surge in popularity in recent years as landlords realise that yields for this type of tenancy can be higher than for standard lets.
Although it’s usually a relief for you as a landlord to find good long-term tenants, there are occasions when you may want to take possession of your property.
New legislation being phased in means that some landlords will need to check that someone has the right to live in the UK before letting a property to them, or even allowing them to live in the property.
An issue that comes up repeatedly with just about any tenancy is that of repairs – what needs repairing, and whose responsibility is it? There’s obviously a balance to be struck. The landlord can’t be expected to send in a decorator every time a slight crack appears in the plasterwork, similarly the tenant shouldn’t be penalised for it when they move out.
Most people seek regular income from their investments and landlords are no exception; the promise of monthly rental income on top of increasing property values is what attracts people to the sector.
Not content with annoying the business community, Labour have also announced rent control policies which will inevitably impact the UK’s private landlords.
Accidental landlords, people who find they need to let their home out for work or personal reasons, make up around 30% of all private landlords according to figures from Rightmove.
An opportunity has arisen for buy-to-let landlords to indirectly hold their properties within their pension schemes, and effectively make them free from capital gains tax (CGT), by investing in property investments.
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