9 Crown Row, Bracknell, Berkshire, RG12 0TH
Liam McDonnell
Lettings Valuer
Liam attended school locally in Ascot and began his career in estate agency aged 18 in the Bracknell area. He has gone on to gain experience within the Maidenhead, Reading and Wokingham markets too. Building relationships is what Liam enjoys the most in his role, which gives him the opportunity to meet and help all kinds of people. Away from work, Liam enjoys playing football throughout the week and for a local Bracknell team on a Sunday (some say the next Sunday League Pirlo).
The best piece of advice I’ve ever been given is…
The way to get started is to quit talking and start doing.
Top of my bucket list is…
To travel around America and Australia.
On Sunday mornings, you can usually find me…
On a football pitch in all weathers – potentially a little jaded from the night before.
My guilty pleasures are…
Watching Super Sunday and the F1 whilst devouring a takeaway. Highly recommended.
The thing I like best about my job…
Helping and advising landlords on how to make the process of letting their property as stress-free as possible, and assuring tenants throughout the process so that it becomes an enjoyable and exciting experience.
The person I’d most like to go for a drink with is…
Sir Alex Ferguson.
8 May 2018
For many private Landlords managing their investment portfolio will continue to become a challenge. In 2018 there are at least five things all private landlords should know if they are to comply with current legislation and properly manage their portfolio and the income generated by it.
They are;
1: Tax Relief Changes
Remember that from April 2018 Landlords paying income tax at the higher rate will only be able to claim tax relief on 50% tax relief on the interest paid on their property loan. The following year it is 25% and thereafter Landlords may only claim tax relief on interest at the basic rate of income tax. Make sure to take professional advice on this subject.
2: Higher Interest Rates?
There are rumblings amongst those who know that the Bank of England Base Rate is forecast to rise to 1% by the year end. Those of you on non fixed-rate mortgages may see increases in borrowing costs if Base Rates rise this year. Given recent changes in the levels of tax relief now enjoyed by higher rate taxpayers, this could be an expensive and unwelcome combination.
3: Potential Changes in The Way Landlords & Tenants Settle Disputes
Under plans announced at the end of last year, buy-to-let Landlords will be asked to sign up to a compulsory arbitration scheme when resolving disputes with their tenants. The plans are currently part of a consultation. Of course, the consultation needs to be completed before it can be established whether this is good news or bad news for Landlords and tenants alike.
4: Stamp Duty Tax Surcharge For Buy To Let Purchases
If you buy property for buy to let purposes you will be aware that you are now required to pay an additional 3% in SDLT on top of the normal SDLT that would be payable on property by any buyer for occupation. Again, taking advice on how best to deal with this surcharge should be sought early in the process.
5: What is the EPC of Your Property
The EPC (Energy Performance Certificate) must be valid when you market a property for sale or rental – or relet it. Furthermore, from 1 April anyone that lets a property on a new tenancy must make sure that the property has an EPC in Band E or above. Failure to adhere to these rules may result in a fine of up to £4,000.
Of course, many Landlords have modern property that falls within Bands A – D but it’s worth checking to make sure you remain the right side of the law.
The demand for rental property is predicted to be even stronger over the forthcoming years, so it’s still a good time to become a landlord, should it be right for you.
Read our blog – Minimum Energy Efficiency Standards For Rented Properties
Contact Bracknell’s longest established property experts for further advice and guidance.
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