Helen is Nick’s sister and she successfully set up and established our Lettings Department back in 2013. Having spent much of her career prior to DY working in marketing, Helen now heads up our Marketing & Operations department. This suits her organisational skills, creativity and keen eye for detail perfectly! She loves taking long walks with her Labrador Finn and when time permits, travelling and visiting new places around the globe.
Top of my bucket list is…
To visit more new countries and ultimately, travel round Europe in a camper van.
My guilty pleasure…
Ben & Jerry’s cookie dough ice cream – I’ve got a very sweet tooth, for my sins.
When I was younger, I wanted to be…
If I were a superhero, my superpower would be…
To find a cure for cancer and dementia. Here’s hoping.
On Sunday morning, you can usually find me…
Up bright and early for a dog walk!
You might be surprised to know that…
One of my earliest qualifications as a teenager was as a Clarks trained shoe fitter. Ohh, all those back to school shoes!
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.
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.