LeBern – Helping Landlords On Their Property Journey https://lebern.co.uk Thu, 26 Sep 2024 12:10:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/lebern.co.uk/wp-content/uploads/2021/12/cropped-cropped-Untitled-2.png?fit=32%2C32&ssl=1 LeBern – Helping Landlords On Their Property Journey https://lebern.co.uk 32 32 178451964 Prime Property Pipeline Terms https://lebern.co.uk/prime-property-pipeline-terms/ https://lebern.co.uk/prime-property-pipeline-terms/#respond Thu, 26 Sep 2024 11:05:24 +0000 https://lebern.co.uk/?p=22546

These Terms and Conditions (hereinafter referred to as “Terms”) govern your participation in the Prime Property Pipeline (the “Group”) operated by Lebern (https://lebern.co.uk). By subscribing to and participating in the Group, you agree to be bound by these Terms. These Terms are supplementary to the main terms and conditions of Lebern and should be read in conjunction with them.

  1. Group Purpose
    The Prime Property Pipeline is a paid subscription group designed to provide members with exclusive property leads. These leads are shared solely by Lebern and are intended for the personal use of members only.

  2. Subscription Details
    a. Subscription Cost: The cost of membership will be outlined on the subscription page and may be subject to changes. Any changes to the subscription fee will be communicated to members in advance.
    b. Payment Methods: Payments can be made via the methods indicated on our website, which may include credit/debit cards, direct bank transfers, or other payment gateways.
    c.Renewal Terms: Subscriptions will automatically renew on a monthly/annual basis unless cancelled by the member. Members will be notified of the renewal and any changes to the terms.
    d. Late or Missed Payments: If a payment is missed, access to the Group may be suspended until payment is received. Continued non-payment may result in termination of membership.

  3. Lead Exclusivity
    a. Exclusive Access: The property leads provided within the Group are exclusive to members. Members must not share, distribute, or make available any leads or related information to non-members.
    b. Non-Disclosure: Members agree to maintain the confidentiality of all leads and related communications. Breach of this confidentiality will result in immediate termination from the Group.

  4. Confidentiality
    Members must adhere to strict confidentiality. Information, including but not limited to property leads, group discussions, and other proprietary content, must not be shared with non-members. Any breach of confidentiality will result in immediate termination of access to the Group without a refund.

  5. Lead Quality & Responsibility
    a. Quality Assurance: Lebern commits to providing high-quality property leads. However, members acknowledge that the quality and potential of each lead may vary.
    b. Due Diligence: Members are responsible for conducting their own due diligence on any leads provided. Lebern does not guarantee any specific outcomes or success from using the leads.

  6. Disclaimer
    Lebern is not responsible for any outcomes, whether positive or negative, resulting from the use of leads provided through the Group. Members acknowledge that they use the leads at their own risk.

  7. No Redistribution
    Members are strictly prohibited from selling, redistributing, or sharing leads outside the Group. Any breach of this condition will result in immediate termination from the Group and possible legal action.

  8. Conduct & Etiquette
    a. Professional Behaviour: Members are expected to maintain a high level of professionalism and respect in all communications within the Group.
    b. Group Etiquette: Any form of inappropriate behaviour, including but not limited to harassment, offensive language, or disruptive conduct, will result in removal from the Group.

  9. Access & Termination
    a. Removal from Group: Lebern reserves the right to remove any member from the Group for breaches of these Terms, including but not limited to non-payment, confidentiality breaches, or inappropriate behaviour.
    b. Cancellation by Members: Members can cancel their subscription at any time via their account settings or by contacting support. Cancellation will take effect at the end of the current billing cycle.
    c. Termination by Lebern: Lebern reserves the right to terminate memberships at its discretion. Members terminated for breaches of these Terms are not entitled to refunds.

  10. Refund Policy
    a. No Refunds: Unless otherwise stated, all payments are non-refundable. Members are encouraged to carefully consider their decision before subscribing.

  11. Updates & Support
    a. Important Updates: Lebern will communicate any significant updates, changes, or notices to members through the Group’s designated communication channels.
    b. Support Contact: For any questions or support related to leads or membership, members may contact us at [[email protected]] or through the contact form on our website.

  12. Data Protection
    a. Mailchimp Storage: Your personal information, including registration details, will be securely stored in Mailchimp and used in accordance with our Privacy Policy.
    b. Data Usage: We use your data solely for the purposes of managing your membership and providing leads. We will not share your data with third parties without your explicit consent, except as required by law.

  13. Intellectual Property
    a. Ownership: All content, including property leads, communications, and materials provided within the Group, remain the intellectual property of Lebern. Members are granted a limited, non-transferable licence to use this content solely for their personal use within the scope of the Group.
    b. Prohibited Use: Members may not copy, reproduce, distribute, or create derivative works from any content provided by Lebern without explicit permission.

  14. Membership Eligibility
    a. Eligibility Criteria: Membership is intended for professionals within the property industry or individuals with a legitimate interest in property investments. Lebern reserves the right to request proof of eligibility.
    b. Application Process: Membership is subject to approval by Lebern. Applications may be reviewed, and certain applications may be declined without the need for detailed justification.

  15. Communication & Updates
    a. Communication Channels: Lebern will communicate with members through designated channels, including but not limited to email and group messaging platforms.
    b. Responsibility for Staying Informed: Members are responsible for regularly checking these channels to stay informed about new leads, updates, and any changes to the Group or its terms.

  16. Technical Requirements
    a. Access to Leads: Members are responsible for ensuring they have the necessary technology, such as reliable internet access and compatible software, to access and use the Group’s services.
    b. Responsibility for Technical Issues: Lebern is not liable for technical difficulties experienced by members that affect their ability to access the Group or its content.

  17. Force Majeure
    a. Unforeseeable Events: Lebern is not liable for any delays or failures in providing services due to events beyond its reasonable control, including but not limited to natural disasters, pandemics, or governmental restrictions.

  18. Amendments to Terms
    a. Right to Modify: Lebern reserves the right to amend these Terms at any time. Members will be notified of significant changes in advance through the Group’s designated communication channels.
    b. Member Agreement: Continued participation in the Group after amendments constitutes acceptance of the updated Terms.

  19. Governing Law & Jurisdiction
    a. Applicable Law: These Terms are governed by the laws of England and Wales.
    b. Dispute Resolution: Any disputes arising under these Terms will be subject to mediation or arbitration before legal proceedings are initiated. The jurisdiction for any legal action will be the courts of England and Wales.

  20. Limitation of Liability
    Lebern’s liability is limited to the amount of the subscription fee paid by the member. In no event shall Lebern be liable for any indirect, incidental, special, or consequential damages arising out of or in connection with the use of the Group’s services.

  21. Data Security
    a. Data Protection Compliance: Lebern complies with all applicable data protection regulations, including the UK General Data Protection Regulation (GDPR). Your personal data will be processed, stored, and protected in accordance with our Privacy Policy.
    b. Breach Notification: In the event of a data breach, Lebern will notify affected members without undue delay and will take all necessary steps to mitigate potential harm.

  22. Indemnification
    Members agree to indemnify and hold Lebern harmless from any claims, damages, liabilities, costs, or expenses arising out of their use of the property leads or any breach of these Terms.

  23. Severability
    If any provision of these Terms is found to be invalid or unenforceable, that provision shall be enforced to the maximum extent possible, and the remaining provisions shall remain in full force and effect.

  24. Entire Agreement
    These Terms, along with any additional terms and policies referenced herein, constitute the entire agreement between the member and Lebern concerning the Group, superseding any prior agreements or understandings.

  25. Waiver
    The failure of Lebern to enforce any right or provision of these Terms will not be considered a waiver of those rights.

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Lebern’s Double Nomination: Celebrating Excellence in Property Management https://lebern.co.uk/two-property-award-nominations-for-lebern/ https://lebern.co.uk/two-property-award-nominations-for-lebern/#respond Sun, 22 Oct 2023 23:42:20 +0000 https://lebern.co.uk/?p=22098
Vote for Lebern to become the Best Property Management Provider at NLIS awards 2023

We are overjoyed to announce that Lebern’s dedication to the property management sector has garnered significant attention this year. Our team’s unwavering commitment and passion have led us to be nominated for not just one, but two esteemed awards.


National LIS Awards 2023: Best Property Management Provider

Our first moment of pride comes from being nominated for the National LIS Awards 2023 under the category of Best Property Management Provider. This nomination speaks volumes about our team’s relentless efforts, innovative solutions, and the unparalleled service we offer to our clientele.

For those eager to show their support, the voting for the National LIS Awards 2023 will commence on Tuesday, 17th October 2023 at 9 am and will conclude on Tuesday, 7th November at 23:59. We encourage you to cast your vote for Lebern here. For a glimpse at the competition, the full shortlist is available on the official website.

 

The Negotiator Award 2023: A Grand Affair of Recognition

Our joy doesn’t end there! We are also ecstatic to reveal our nomination for The Negotiator Award 2023. The culmination of this event will be a grand black-tie gala ball, set to take place at the luxurious Grosvenor House, Park Lane, London on 24th November 2023. This evening promises to be a spectacular gathering of industry leaders.

Lebern shines in the categories of ‘Property company of the year’ and ‘CSR champion of the year’. These nominations underscore our comprehensive approach to property management, emphasizing both impeccable service and our commitment to corporate social responsibility.


Gratitude and Forward Momentum

This moment of recognition is an opportunity for us to extend our heartfelt thanks to our devoted team, our esteemed clients, and all who have journeyed with us. These nominations are not merely accolades but symbols of the trust and confidence you have in us.

We urge you to join in our celebration by spreading the word, casting your votes, and hoping for the best come results day. Here’s to many more accolades and continued success in the days to come!


Your support writes our success story. Thank you.

Best Property Management Provider at Negotiator awards 2023
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Lebern Guaranteed Rent Service – A Stress-Free Rental Solution https://lebern.co.uk/lebern-guaranteed-rent-service-a-stress-free-rental-solution/ https://lebern.co.uk/lebern-guaranteed-rent-service-a-stress-free-rental-solution/#respond Thu, 20 Jul 2023 15:03:37 +0000 https://lebern.co.uk/?p=21879
Lebern Guaranteed Rent Service

Are you a property owner tired of the constant headaches and uncertainties that come with managing rental properties? Look no further! Lebern’s Guaranteed Rent Service offers a comprehensive and worry-free solution for landlords, providing peace of mind and steady income. Let’s explore the key features that make Lebern’s service stand out from the crowd:

1. Fixed Guaranteed Rent: With Lebern, you can say goodbye to the stress of unpredictable rental income. They offer a fixed, guaranteed rental amount, ensuring you receive your rental income consistently, regardless of whether the property is occupied or vacant.

2. No Void Periods: Never worry about losing money during vacant periods again. Lebern takes full responsibility for finding suitable tenants promptly, minimizing void periods and maximizing your rental returns.

3. No Maintenance Costs: Property maintenance can be a significant financial burden for landlords. However, with Lebern, you can breathe easy, as they cover all maintenance costs. Your property will be well taken care of, ensuring it remains in excellent condition for the long term.

4. No Eviction Costs: Dealing with evictions can be legally complicated and financially draining. Lebern takes care of eviction costs, should they ever be necessary, relieving you of this arduous responsibility.

5. No Hidden Costs: Transparent business practices are paramount to Lebern. You won’t encounter any hidden fees or unexpected expenses while working with their Guaranteed Rent Service.

6. No Late Payments: Late rental payments can disrupt your financial plans and lead to additional stress. Lebern ensures that you receive your rental income on time, every time, providing a consistent cash flow.

7. No Maintenance Calls: Forget about those midnight maintenance calls from tenants. Lebern handles all tenant inquiries and maintenance requests, saving you time and sparing you from unexpected disruptions.

8. No Letting Agent Fees: Traditional letting agents often charge substantial fees for their services. Lebern eliminates these expenses, allowing you to retain more of your rental income.

9. No Problem Tenants: Screening tenants and dealing with troublesome renters can be a daunting task. Lebern takes on the responsibility of vetting and selecting reliable tenants, reducing the risk of problematic lease agreements.

10. No Stress: Perhaps the most appealing aspect of Lebern’s Guaranteed Rent Service is the elimination of stress for property owners. From start to finish, Lebern handles the entire rental process, leaving you with peace of mind and more time to focus on other endeavors.

Choosing Lebern’s Guaranteed Rent Service means entering into a partnership with a reliable and trustworthy company. Their commitment to providing hassle-free property management, along with the added benefit of guaranteed rent, offers landlords an opportunity to experience the rewards of property ownership without the typical headaches.

If you’re ready to alleviate the burdens of being a landlord and embrace a truly stress-free rental experience, Lebern’s Guaranteed Rent Service is the solution you’ve been waiting for. Partner with Lebern today and enjoy the peace of mind that comes with a worry-free investment.

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Property Management Services in London https://lebern.co.uk/property-management-services-in-london/ https://lebern.co.uk/property-management-services-in-london/#respond Sun, 25 Jun 2023 14:39:00 +0000 https://lebern.co.uk/?p=21780
Best Property Management Service in London

Lebern offers a comprehensive full management service for property owners in England, adding glamour to the experience. They provide a team of professionals who handle various tasks such as move-ins, cleaning, maintenance, online promotion, and paperwork. Lebern will manage all necessary repairs, ensuring your property remains in pristine condition. Lebern also offers administrative management services to handle all bureaucratic requirements, saving you time and effort. Regular quarterly inspections and detailed reporting are conducted to keep you informed about the state of your property.

Managing tenant relationships is another key aspect of Lebern’s service. They handle the entire process, from move-ins to move-outs, ensuring smooth transitions and a positive tenant experience. Lebern takes care of payment collection, ensuring timely and hassle-free transactions. They also offer attractive options such as guaranteed rental and Advance Rent Option to unlock the full rental potential of your property.

Lebern provides a range of additional services to add glamour to your property management. This includes expert advice on market conditions and pricing to maximize your rental income. They ensure compliance with regulations and prepare your property to attract tenants. With professional photography and effective marketing strategies, Lebern showcases your property in its best light.

Inventories, legal documents, and tenant vetting and referencing are meticulously handled by Lebern, ensuring quality and reliable tenants. They also take care of rent collection and offer safety certificate management, ensuring your property meets all necessary requirements. With 24/7 maintenance and tenant communication, Lebern ensures prompt attention to any issues that may arise.

Regular inspections conducted by Lebern guarantee the ongoing maintenance and upkeep of your property. You will have a dedicated account manager who will oversee all aspects of your property’s management, providing personalized service and addressing any concerns you may have. Lebern also assists with obtaining Energy Performance Certificates, ensuring your property meets energy efficiency standards.

With Lebern, property owners can enjoy a hassle-free, glamorous property management experience, while maximizing their rental income and ensuring the well-being of their investments.

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A landlords’ guide to the eviction process https://lebern.co.uk/a-landlords-guide-to-the-eviction-process/ https://lebern.co.uk/a-landlords-guide-to-the-eviction-process/#respond Sun, 30 Apr 2023 14:39:25 +0000 https://lebern.co.uk/?p=21703
Tenant Eviction Services in London

A landlords’ guide to the eviction process

 

Most tenants are decent people who pay their rent promptly and go out of their way to get on with their neighbours.

What often concerns landlords are the few who don’t follow the rules.

If the worst happens, there may come a time when you wish to evict a tenant. It could be because they have been misbehaving; or you may wish to get your property back either to sell it, or to live there yourself.

There are a number of steps you have to take to do this properly. This will help the eviction process go smoothly and will dictate the measures you can take if they resist leaving. Your letting agent will also be able to assist.

Speak to your tenants

Whether it’s by phone or by email, it is advisable to get in touch with your tenant, especially if they are in arrears with the rent or have been engaging in anti-social behaviour (ASB).

You could potentially help them with a repayment plan, or help them to access benefits, or point out ASB problems – for instance, they might not realise that neighbours have complained, and might then adjust their behaviour.

In any case, it is polite to give advance warning that you intend to serve notice. They might want more time before leaving, and perhaps you can negotiate on this.

If you are doing this by phone, it is a good idea to confirm what has been discussed in a letter or email, so you have evidence if you face the worst case scenario of going to court to get your property back.

 

Ensure the tenancy paperwork is in order

To be in the best possible position, ensure you or your letting agent has the correct documents which must be issued at the start of a tenancy.

When you take on a tenant, they must be provided with a copy of the government document “How to rent: the checklist for renting in England”. Along with that, they must be given a copy of the Energy Performance Certificate and the Gas Safety Certificate if applicable.

Any good letting agent can ensure this is done at the start of the tenancy. However, you can serve those documents retrospectively but must follow certain procedures, so it is best to seek advice.

 

How to serve notice

 Whether it’s for fixed-term Assured Shorthold Tenancies (AST) or periodic tenancies (ie they have “rolled on” and continued after the end of a contract), the procedure is usually the same.

Notice must be served in writing, two months prior to the date you want your tenant(s) to leave and stating that date. Normally you’ll use a Section 21 notice (Housing Act 1988) but note you cannot end the fixed-term early.

You can end it earlier in the case of arrears, significant damage or ASB, using a Section 8 notice, but this can end up being just as lengthy, as the court may get involved.

In the majority of cases the tenant will leave at the end of the notice period, but in some cases they may refuse.

If so, find out why and see if it is  something that can be resolved between you – because otherwise, the next step could be lengthy and costly. Please note you cannot harass a tenant or force them to leave – it’s against the law.

 

The process of going to court

This is recommended only when all else has failed. It costs around £500 to get a warrant but there will be legal costs on top, and the courts are busy and move very slowly.

A judge will decide whether to make an order of absolute possession, taking into account the tenant’s circumstances. The judge will set a date for leaving, which could be as soon as two to four weeks’ time. Hopefully the tenant will then go.

If they still will not vacate, bailiffs appointed by the court will give tenants 14 days’ notice before visiting the property. If they are refused entry, they have the powers to bring round a locksmith to open the door. At this point the tenant must leave, though the bailiffs will allow time to pack.

Here at LeBern Property, we have 10+ years of property management experience. For information and advice on the lettings process, management of your property, finding and retaining tenants do not hesitate to contact us at one of our branches.

Find out how much your property is worth and how much you could charge prospective tenants who rent by using our free and instant online valuation.

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March Recap https://lebern.co.uk/march-recap/ https://lebern.co.uk/march-recap/#respond Fri, 31 Mar 2023 18:17:32 +0000 https://lebern.co.uk/?p=21616
Monthly recap on Lebern property management sales

The market is seeing rental demand and rental price increases which is positive news for landlords however with increasing interest rates and rising cost of borrowing, investors requiring finances to purchase are finding purchases less financially viable. The first time buyer market is being squeezed by the cost of living situation stalling the sales market and in many places prices to fall.

LeBern has been working on a solution for our clients and I am delighted to confirm that we have secured a cash fund which will enable us to assist our clients that are looking to sell.  We are now in the position to provide a quick property transaction with all cash offers.

I am delighted to be able to announce Ricardo Bynoe is now our head of property management service with Shereen Anderson head of our eviction service.  Both are extremely experienced and we’re excited to see both grow their respective divisions of the business.
 
The team was at the national landlords Investment show exhibiting our services, where we met many of you our clients and future clients.  We will be at the next one so look forward to meeting many more of you then.
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Keeping the rental fraudsters at bay https://lebern.co.uk/keeping-the-rental-fraudsters-at-bay/ https://lebern.co.uk/keeping-the-rental-fraudsters-at-bay/#respond Wed, 22 Feb 2023 17:03:57 +0000 https://lebern.co.uk/?p=21602 Identfying rental fraudsters

When things you have always taken for granted, like heating and eating, are becoming too expensive, it’s no surprise that some are looking to cut corners and maybe live in a better part of their area than they could reasonably expect to afford.

Almost 280,000 properties across the UK, with a combined market value of £82billion, are occupied by fraudsters.

It was reported by Homeppl that 91% of the fraud that comes from rental applications stems from tenants attempting to disguise the true nature of their financial circumstances.

According to statistics, one in 50 tenancy applications are fraudulent and that rises to one in 20 in London.

With the demand for rental properties on the rise and competition to get that much sought-after flat or house increasing daily, the lengths to which some tenants will go to knows no bounds. Let’s analyse the most common instances of tenant fraud and tips to stop it

Fake ID

A huge amount of the fraud starts here, with a stolen or fake ID. It has become something of a business to produce fake IDs, with one man making nearly £300,000 from the money he earned from it.

Spotting the fakes requires some assertiveness on your part, cross-referencing all the details you have with external sources to make sure the driving licence/passport you have is genuine. If you’re still unsure, take a look at this website for more tips.

Bank statements

It’s no secret that rents in London have gone up – the average weekly rent as of last September was a whopping £553. So, proving they can pay it is where fraudsters come into their own. Many of them use doctored or fake bank statements.

If the information is on a PDF, check to see if it has been altered. If it has, then that’s a clue that the statement may have been tampered with. If you’re not sure, ask the experts or go to a bank to make sure what you have is legitimate.

References

Ever wondered why there are so many domain names? Well, some of them belong to entirely fake businesses, which have been set up to provide the owner with a reference that only they can verify.

There are several ways to check the veracity of the website – see how old it is. A recent website might suggest it’s been created for the purposes of providing such a reference. Be cautious, though, as there are plenty of new, legitimate websites.

Payslips

 

Creating a fraudulent payslip, exaggerating how much a tenant earns, is definitely one way of trying to prove you can pay the rent. With more and more payslips now electronic, fraudsters are now able to create new versions of payslips but with slightly exaggerated figures to boost their perceived ability to pay.

It’s easy enough to check whether the figure on the payslip is legitimate by contacting companies house. They can check to see whether the payslip exists and also whether the business that the client ‘works’ for exists.

Here at LeBern Property, we have 10+ years of property management experience. For information and advice on the lettings process, management of your property, finding and retaining tenants do not hesitate to contact us at one of our branches.

Find out how much your property is worth and how much you could charge prospective tenants who rent by using our free and instant online valuation.

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How to check the validity of Section notice https://lebern.co.uk/how-to-check-the-validity-of-section-notice/ https://lebern.co.uk/how-to-check-the-validity-of-section-notice/#respond Fri, 27 Jan 2023 15:00:43 +0000 https://lebern.co.uk/?p=21563 Section 21 Notice for tenant eviction

1. Check the form and dates
Your section 21 notice must be on form 6A.
Your notice will not be valid if:

  • You have waited too long to apply to court
  • You issue the notice during the first 4 months of your original tenancy

2. When tenants deposit not protected?

  • As a landlord you can not give a valid section 21 if tenants deposit is not protected in a scheme or it was protected late.
  • For most renters, late protection of your deposit means more than 30 days after your most recent contract started.

3. Check your documents

As a landlord you cannot usually give you a valid section 21 notice unless you have shared below documents with tenants,

  • Gas safety certificate
  • Energy performance certificate (EPC)
  • The government’s How to rent guide

4. Charged banned or unwanted fees?

Landlords and agents can only:

  • take up to 5 weeks’ rent as a deposit
  • charge fees in certain situations

6. When council order renovations

As a landlord you cannot give a valid section 21 notice for the next 6 months if the council orders you to do repairs under either an:

  • improvement notice
  • emergency works notice
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Landlords count the cost of Chancellor’s Autumn Statement https://lebern.co.uk/landlords-count-the-cost-of-chancellors-autumn-statement/ https://lebern.co.uk/landlords-count-the-cost-of-chancellors-autumn-statement/#respond Mon, 28 Nov 2022 14:07:12 +0000 https://lebern.co.uk/?p=21552 In a much-awaited Autumn Statement, Chancellor Jeremy Hunt – who has been in the role for only just over a month – set out the government’s tax and spending plans.

As predicted, it involved some large tax rises and spending cuts at Hunt aimed to fill a fiscal black hole to the tune of £55 billion – caused by Covid, Brexit, the war in Ukraine, soaring inflation and the disastrous mini-Budget from Liz Truss and Kwasi Kwarteng.

Hunt said he was delivering a plan which would tackle the cost-of-living crisis and rebuild the UK economy. He also said he would be prioritising stability, growth and protecting public services.

His speech didn’t have much to say about housing specifically, but he did set out a number of measures that will directly affect landlords.

Below, we take a look at what these were.

Capital gains tax allowance halved

The Chancellor announced that he would more than halve the tax-free allowance for capital gains in the next tax year (2023-24), reducing it from £12,300 to £6,000. In the next tax year (2024-25), it will be halved again to £3,000 in 2024-25. Hunt said this was to make the tax system fairer and restore the public purse.

It will be those landlords seeking to sell their homes who will be most affected by this change, with CGT charged at a much higher rate for residential property sales.

More landlords could look to leave the sector earlier than planned as a result of the move, which would in turn have a negative impact on rental supply.

“These swingeing cuts to Capital Gains Tax allowances will dissuade investment for years to come,” Ben Beadle, CEO of landlord trade body NRLA, commented, saying that it will deter investment in new rental homes and grow the cost of renting.

Greater tax load for higher earners

Hunt also used his Commons speech to reveal that higher earners will begin paying the top rate of tax (45%) when they earn £125,140, down from £150,000 before.

As a consequence of this, more landlords could be forced into the highest paying tax bracket. This is likely to then have an impact on the profits they can make because of the changes to mortgage interest tax relief which were first introduced in April 2017.

Hunt announced other tax changes in his address, stating that Inheritance Tax thresholds will be frozen for a further two years, which will mean hundreds of thousands of home owners remain subject to paying this tax.

Time-limited stamp duty cut

In a much more unexpected move, Hunt said the recent cuts to stamp duty would be time-limited, ceasing on March 31 2025.

For the next few years, there is now effectively another stamp duty holiday – something which will encourage more buyers, including landlords, to take advantage of the potential savings on offer.

Kwarteng, in his now infamous mini-Budget, had increased the nil rate threshold for stamp duty from £125,000 to £250,000, while also upping threshold at which first-time buyers pay stamp duty on their first home to £425,000 from £300,000 on purchases worth up to £625,000.

But that will all come to an end in March 2025, which could lead to a late rush for homes before the effective holiday ends.

Hunt’s wide-ranging speech, which lasted for nearly an hour, also included a number of other measures – ranging from electric cars to the energy price guarantee, explained in much greater detail here

Here at LeBern Property, we have 10+ years of property management experience. For information and advice on the lettings process, management of your property, finding and retaining tenants do not hesitate to contact us at one of our branches.

Find out how much your property is worth and how much you could charge prospective tenants who rent by using our free and instant online valuation.

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Why Landlords must use Advance Rent Options and Guaranteed Rent Options https://lebern.co.uk/why-landlords-must-use-advance-rent-options-and-guaranteed-rent-options/ https://lebern.co.uk/why-landlords-must-use-advance-rent-options-and-guaranteed-rent-options/#respond Mon, 28 Nov 2022 13:59:06 +0000 https://lebern.co.uk/?p=21549

According to Moody’s economic status of United Kingdom has been downgraded from “Stable” to “Negative” due to political instability and high degree of inflation. There is high possibility that economy will be stable again with effective policy making and macro-economic strategies. However current condition creates threats to many industries as it may lead towards higher degree of unemployment, salary cuts, and layoffs. Landlords are affected with this kind of economic conditions at two ends. While some landlords struggle to find tenants, some may struggle to collect rent money from existing customers. In both conditions Landlords must suffer at many ends. Guaranteed Rent Options and Advance Rent Options can be identified as the perfect solutions to overcome these issues. Under the Guaranteed rent option Property Management Company like Lebern enter into an agreement with landlords for guaranteed rent where company becomes the tenant. When company becomes the tenant it is much secure for landlords.  In Advance Rent Options companies like Lebern becomes the tenant and provide total annual payment of the property upfront to the landlords.

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