Where a property is let under an assured shorthold tenancy, there is a legal requirement under the Housing Act 2004 for landlords to place a tenant’s deposit into a Government backed tenancy deposit protection scheme. There are two types of scheme – custodial or insured.
The Institute of Economic Affairs has issued a damning report on the impact of taxation on the Private Rented Sector (PRS) entitled "Taxation without Justification". Landlords are being forced to re-evaluate the economics of the industry, with many considering increasing rents to buffer the impact of considerable government intervention.
Whether you are thinking about making your first buy to let investment, or you are an experienced portfolio landlord, there is lot that you need to consider when you let out a property. In fact, it can all seem a little overwhelming. But don’t panic, we are here to help. We can assist you navigate what needs to be done to be successful.
Once you have made the decision to let out a property, there is some work to do to get yourself and the property ready. There is a lot to consider, including a myriad of legislation, regulation, taxation, consents etc. With some research, detailed planning and good advice you can ensure that both your and your property are ready