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Challenges for Landlords

Are you aware of the upcoming challenges facing landlords in 2018?

 

 

 1.     Number of HMOs requiring a license will increase

From April 2018, it is likely that HMO's of just 3 occupants or only 1 to 2 stories will require a license, as opposed to the previous rules of 5 or more occupants / 3 or more stories.

 2.     Restriction on tax relief for landlords

The tax relief that landlords of residential properties get for finance costs is being restricted and will be fully in place from 6 April 2020. We have trusted partners on hand to offer the best advice.

 3.     General Data Protection Regulations

From 25th May 2018, landlords must safeguard tenant's data, making sure that they only pass it on if you are legally entitled to do so, and not retaining it for longer than necessary. We can advise you further on the intricacies of this legislation.

 4.     Minimum Energy Efficiency Standards

From April 2018, it will be unlawful for landlords to let properties with an EPC rating of “F” or “G”. We can assist with bringing your property up to standard if required.

 5.     Tenant rights to take legal action against Landlords

Where a landlord fails to meet their obligations to provide suitable habitation, tenants will be permitted directly to take their landlords to court. We can help prevent this occurring to you.

 

Has your agent made you aware of the challenges facing you

and do they have a clear, concise plan in place to help?

 

When it comes to the Birmingham Residential Lettings Market, Centrick Property is here to help. We are the No.1 Letting Agent in Birmingham City Centre according to property portal Rightmove and through our unique 360 degree service can provide you with everything a landlord requires, from advice through to management.

 

For more FREE, honest advice on landlord legislation or the property market in general give our friendly team of experts a call on 0121 347 6116 (option 1), email [email protected], pop into our city centre property lounge for a drink and a chat or just fill in the form below!

Enquiry form

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