Tax for Landlords

Today, the 6th April, marks the start of changes to income tax relief for most Landlords of residential property.

Those affected most will be*

• UK resident individual that lets residential properties in the UK or overseas
• non-UK resident individual that lets residential properties in the UK
• individual who let such properties in partnership
• trustee or beneficiary of trusts liable for Income Tax on the property profits

(*sourced from www.gov.uk)

Many in the property industry have speculated that the shortfall in income for Landlords will be passed on to Tenants who will face increased rents and, with a shortage of rental property on the market, this could lead to more tenants losing their homes, rent arrears and homelessness.

Perhaps a consideration for Landlords is to reduce their outgoings by changing managing agents!  Many High Street agents are charging between 10 and 15% (plus VAT) on a monthly basis for their services.

With our Tenant Find Only fees from £250 and Full Management from 7% (with no VAT) that is a fair saving already.  As an added bonus (at no extra charge!) Landlords and Tenants get a one-to-one service from a local, knowledgeable and regulated online agent.

Landlords, get in touch if you would like an informal, no-obligation chat about cutting your costs and keeping your good tenants happy.

Together we can ‘make a difference’