Up to 30% of landlords do not understand changes to private renting regualations
PropertyWire is reporting that according to a survey by lenders Market Financial Institutions, many UK landlords are struggling to keep up to date with recent reforms and changes to tenancy law.
HMO licensing confusion
According to the survey, 30% of landlords still do not understand changes to HMO licensing that came into effect in October last year, with nearly the same amount – 28% – not aware that Section 21s were abolished in June 2019
Tax is too taxing for some
Recent changes to tax free allowances for inheritance tax and to tax relief on mortgage payment are also causing problems with at least 25% of landlords surveys being in the dark about them.
Private renting regulations – The Maison View:
It’s now more important than ever to have your financial affairs in order when renting out properties to tenants. The government is keen to strengthen tenant’s rights in order for them to have a secure home which is an admirable aim, but this should not be at the expense of private landlords falling foul of recent changes to private renting regulations. We ensure that our rentals are fully compliant with the latest legislation so if you invest in property with us, you can have confidence in your investment.
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