Good Landlording

By: Suzanne Smith and Richard Jackson
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  • Summary

  • A weekly podcast co-hosted by Suzanne Smith and Richard Jackson, who discuss practical tips to help you start, grow and succeed as a landlord in England
    © 2024 Good Landlording
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Economics Management Personal Finance
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Episodes
  • Landlord guide to tenancy deposits #35

    Landlord guide to tenancy deposits #35
    Nov 19 2024
    Tenancy deposits are important. They give landlords comfort that they won’t be out of pocket if there is damage to the property at the end of the tenants or if there are arrears. However, tenancy deposits are subject to a lot of regulation to ensure that tenants' interests are protected. In this episode of Good Landlording, Suzanne Smith and Richard Jackson cover the following: The difference between custodial and insured deposits. The rules about tenancy deposits. What happens if landlords don't comply with the tenancy deposit rules? How does a tenancy deposit differ from a holding deposit? What deductions can landlords make? Can landlords charge for their own time? Can a landlord replace something with an upgrade? What happens if the tenants won’t agree to the deductions? >> Blog post: What deductions can landlords take from tenancy deposits? >> Blog post: What landlords need to know about Deposit Protection Schemes Key insights about deposits Here are the key insights from the podcast episode. The rules about tenancy deposits are intended to ensure that deposits are properly protected, ad that the landlord makes appropriate deductions. Custodial deposits are held by third-party schemes, while insured deposits allow landlords to keep the money. Landlords need to register the deposits and provide the prescribed information about the deposit protection to the tenant within 30 days. If the deposit is not protected properly, tenants can claim compensation and a landlord won't be able to issue a valid Section 21 notice. It's essential to document the condition of the property with a detailed inventory, preferably done by an independent third party as that constitutes better evidence. Landlords can charge for their time spent on cleaning and repairs under certain conditions. (See the MyDeposits article explaining the circumstances where landlords can charge for their time). Disputes over deposits can be escalated to the deposit schemes. >> Related episode: How to manage tenants and keep them happy Credits window.addEventListener('message',function(e){'https://widgets.blubrry.com'===e.origin&&'object'==typeof e.data&&(document.getElementById(e.data.senderId).style.height=e.data.height+'px')}) Music: "Paradise Found" by Kevin MacLeod of Incompetech. Licensed under Creative Commons: Attribution 4.0 License.
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    22 mins
  • Key insights from 2024 NRLA Landlord Conference #34

    Key insights from 2024 NRLA Landlord Conference #34
    Nov 12 2024
    In this week's episode of Good Landlording, Suzanne Smith and Richard Jackson discuss the key insights from the NRLA Landlord Conference in Birimingham on 5 November 2024, sharing useful information. This includes: Data from Richard Donnell of Zoopla, relating to the economics of investing, particularly the impact of higher interest rates on investors, and his prediction that rental growth will slow to around 3-4%.. James Caan's advice to entrepreneurs to be flexible, be creative and be prepared for failure, as failure can lead to success. He also underlined the importance of people, building relationships and keeping learning. The importance of having swift resolution of cases by the redress schemes, and Suzanne's wish for the decisions to be publish so that the case law develops. Technology promises to grow in importance for landlords, and there is certainly demand there. However, there is currently no "end to end solution" that does it all. Is Andy Burnham's Good Landlord Charter in Greater Manchester an unnecessary accreditation? (More details here: Good Landlord Charter) The merits of investing locally. Why it's so wonderful meeting other landlords in person. 😊 >> Ask a question: Click here for question form >> Join: Link to get £15 off NRLA membership A meet up of some of the listeners of Good Landlording at the NRLA conference Credits window.addEventListener('message',function(e){'https://widgets.blubrry.com'===e.origin&&'object'==typeof e.data&&(document.getElementById(e.data.senderId).style.height=e.data.height+'px')}) Music: "Paradise Found" by Kevin MacLeod of Incompetech. Licensed under Creative Commons: Attribution 4.0 License.
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    18 mins
  • Q4 2024 update: Budget, Renters’ Rights and rental trends #33

    Q4 2024 update: Budget, Renters’ Rights and rental trends #33
    Nov 5 2024
    In their rental market update for Q4 2024, Suzanne Smith and Richard Jackson discuss the impact of Labour's first budget on landlords and property investors, the latest on the Renters' Rights Bill and what's happening with rental trends. >> Ask a question: Click here for question form What we cover in this episodeLabour's Autumn BudgetWhat's happening with the Renters' Rights BillSoftening of rental demand Labour's Autumn Budget Richard and Suzanne discuss the key changes for landlords and property investors in the budget: SDLT. The Chancellor increased stamp duty by 3% for "additional properties" on 31 October 2024 and there will be a further increase on 1 April 2025, when the first threshold will be lowered from £250,000 to £125,000. This will add £2,500 to the amount of stamp duty payable on the average property. Capital gains tax - no change for property investors. Income tax - the impact of fiscal drag is that the amount of tax people pay will increase in real terms as the bands are not being increased byt inflation. National insurance contributions - the budget increased employer national insurance contributions and lowered the threshold, meaning that employers will need to start paying NICs at a lower amount. Pensions - no changes to potentially exempt transfers or the various caps, but most unused pension funds and death benefits will be included within the value of a person's estate from 6 April 2027, which means they could be subject to inheritance tax of 40%. >> Blog post: What the 2024 Autumn Budget means for landlords and property investors What's happening with the Renters' Rights Bill The Renters' Rights Bill is making good progress through the House of Commons, and entered the Committee Stage on 22 October 2024. The Committee are going through the Bill on a clause by clause basis. The Housing Minister has made it clear that they won't be backing down on fixed terms or making exceptions for students. The ambiguity around up front rent payments has been discussed a lot, and the Minister said he will make the position clear in the Bill. >> Blog post: The latest on the Renters’ Rights Bill >> Related episode: What the Renters’ Rights Bill changes about rent Softening of rental demand There are signs that the renal market is slowing down, with demand softening. Anecdotally, Richard and Suzanne have recently seen it in London and Kent respectively. This is backed up by Rightmove's Rental Trends Tracker for Q3 2024 which says the average number of enquiries per rental property is now 15, down from 23 last year. However, this is nearly double the 8 before the pandemioc in 2019. The advertised rental price is dropping before finiding a tenant for more than a fifth of rental properties. Credits window.addEventListener('message',function(e){'https://widgets.blubrry.com'===e.origin&&'object'==typeof e.data&&(document.getElementById(e.data.senderId).style.height=e.data.height+'px')}) Music: "Paradise Found" by Kevin MacLeod of Incompetech. Licensed under Creative Commons: Attribution 4.0 License.
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    28 mins

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