Liverpool Letting Agent

With Tax Changes Are Buy To Let Properties Still A Good Investment?

As the tax reliefs for buy to let investors draws to an end the question on every Liverpool landlord or potential Liverpool landlords mind is whether or not buy to let properties are still a good investment?

PricewaterhouseCoopers could have the answer. As a report realised last month by PWC found even though the government has made decisions to reduce mortgage interest relief tax for landlords the letting market is still as appealing as ever. In fact PwC forecasts that ¼ of all houses in the UK will be tenanted within the next 5 years.

The report said that lenders have an incredible stake in the buy to let market and that it is very important to them. However this being said due to the relief reforms a handful of lenders are now offering company buy-to-let finance products, which offers a new tax-efficient alternative to property investment.
Tenant demand remains incredibly high and is expected to rise further over the next few years. This means that investors can buy properties with the safe knowledge that there will be a readily supply of tenants.

The tax relief reforms aren’t due to take effects until 2017 which gives buy to let investors ample time to clarify their position. If you have a property that you need a tenant for quickly please give Propeller Lettings Agents Liverpool a call.

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The Regulation changes that all Liverpool Letting Agents and Landlords should be aware of

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If the already complicated deposit requirements wasn’t enough the government has now made it mandatory for all private landlords and Liverpool letting agents to give their tenants an up to date gas safety cert, an energy performance cert and a government produced ‘how to rent’ booklet before any landlord can serve the tenants their section 21 notice. These new regulations are, at the moment, only applicable to tenancies granted after the 1st of October but in the next 3 year will come into play for all assured short hold tenancies. In order to serve the section 21 notice (S21) the letting agent or landlord must use a mandatory S21 form. Serving the notice has also been further complicated as landlords now have new time limits for commencing possession proceedings after serving the S21.

We can see there being several issues with the new regulations especially when it comes to evictions that are made around the same time that tenants have made property condition complaints. The new complexities to the regulations means that S21 cannot be served as a result of complaints or around the same time as complaints.

If you are interested in way to keep complications from happening when serving an S21 notice please do call a member of our team who can guide you through the process. However in regard to the conditions complaints changes the best idea is to always keep on top of letting maintenance. As a letting agent in Liverpool and the Wirral with over 20 years experience letting properties I can tell you that this isn’t as simple as it may sound. For more information on our fixed fee letting agent services please click here: Letting Agent Services Liverpool

 

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