As a Landlord you will have no doubt have heard the phrase ‘wear and tear’ at some point when it comes to property condition, but what does it mean and how do we determine what damage falls within this definition? Everything in a house has a lifespan, and this normal deterioration is a Landlord’s responsibility... View...
Recent legislative changes mean that tenancy deposits are now capped at an amount equal to 5-weeks’ rent. Whilst this is usually enough to deal with most end-of-tenancy issues, some Landlords may wish to have additional cover. We have recently teamed up with Reposit in order to offer an alternative for traditional deposits. If you opt-in... View...
We let you know in January that all tenancy deposits that exceed the equivalent of five weeks of the property’s current rent will need to be revised, in line with the second stage of the Tenant Fees Act which comes into force in June 2020. We are currently checking each deposit against the Tenancy Deposit... View...
From the start of the new tax year (April 6th) Landlords will only be able to claim lettings relief if they share the property with their Tenant. Currently if you sell a residential property which used to be your private residence (and have subsequently rented it out), it is possible to deduct lettings relief up to a value of £40,000 from any capital gain.... View...
David James is delighted to announce that we have partnered with Framework as our chosen charity for 2020. Framework is a charity delivering housing, health, employment, support and care services to people with a diverse range of needs. Not only that but Framework is Nottingham-based, ensuring we are supporting a charity at the heart of... View...
If your rental property has been financed for some time through the same lender, you may not be aware of the increasingly competitive mortgage rates which are available in the marketplace. Your Mortgage Shop is part of the David James group of companies and offers an independent approach with access to the whole of the mortgage... View...
In our January bulletin we informed you that the government intend to implement mandatory electrical checks. At the time both April and July had been mentioned as possible implementation dates. Whilst we still await official confirmation of the intended date, we are now working on the assumption that the July date is the most feasible starting... View...
Just a quick reminder that Selective Licensing costs for Nottingham City are rising from the 1st April 2020. A new licence application from this date will be £890 (rising from a previous level of £780). Accredited Landlords will still be able to claim a discount, however this has also risen to £670 and accreditation will need... View...
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You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property. SDLT only applies to properties over £250,000. There are three rates of stamp duty for residential property, with a standard rate for people who own one property, a surcharge for those who own multiple properties and a relief element for first time buyers.
For more information visit the .Gov website HERE
