Tag Archives: Residential Landlords Association (RLA)

Landlords increasingly looking to sell up

A new sentiment survey of landlords has revealed that a growing number of them are looking to sell their properties because of the upcoming buy to let tax relief changes. The sentiment survey from Your Move and Reeds Rains says that the tax change is a ‘major concern’ for landlords and 23% say that now is a good time to sell their rental properties. In addition, landlords also say that letting a property will be less profitable when the tax reforms take effect from April 2017. However, 31% of landlords believe that now is a good time to expand their buy to let portfolio though 44% say that buying rental properties is now more complicated. With the ‘Right to Rent’ checks coming in next year, nearly 20% of landlords said they would be daunted by the prospect and don’t feel experienced enough to let their properties without the support from a letting agent. Landlords say that the laws for rental properties have become more confusing   Another 24% of landlords say that the laws for rental properties have become more confusing and, alarmingly, 11% say they do not understand current regulations. A director of Reeds Rains and Your Move, Adrian […]

Reforms will see landlords facing a tax bombshell

More than 60% of landlords with private rental properties face being pushed into higher rates of income tax because of Government reforms, according to research. The Residential Landlords’ Association (RLA) says this is no time for landlords to feel complacent after the Chancellor George Osborne announced in his budget that mortgage interest relief for landlords is to be restricted to the basic income tax rate. However, the RLA says that landlords who pay the basic rate and believe they are unaffected by the changes will find themselves being pushed into paying a higher rate of income tax despite their income not increasing. That’s because the tax change for landlords will be applied to turnover and not profit. From their research, the RLA says that of 1,200 landlords they questioned who are currently paying the basic rate of income tax, more than 60% said the rule change would see them paying a higher or additional rate of tax. Impact of mortgage interest relief reforms affect landlords   Now the RLA has met with Treasury officials to raise its concerns about the impact of mortgage interest relief reforms and how this will affect landlords investing in new housing for rent. David Smith, […]

Landlords over 50 “make no profit”

An investigation has revealed that for landlords aged over 50, around 10% of them do not make any profit whatsoever from their rental property investment. The findings come from Saga Landlord Insurance who say that many landlords have gained ‘substantial’ financial awards since entering the UK’s private rental sector though another 25% said they had found being a landlord more difficult than they had anticipated. The firm interviewed more than 10,000 landlords over 55 and found that nearly 10% are making the most of their opportunity in the buy to let market. They also rated highly for their optimism of the market’s future. The survey also revealed that the average income per month for a landlord is £700 with one in 10 saying they were running at a loss or just breaking even. One third of those responding said they had entered the buy to let market since 2010 and 10% said that the job of running the business was easier than they had expected. Bought their property to rent out   One reason given by Saga for this response is that 45% of those asked said they had specifically bought their property to rent it out. Another 14% said […]

Luton votes in licensing for all HMOs

Luton councillors are accused of running a sham house in multiple occupation (HMO) consultation and failing to answer the concerns of critics.

Residential Landlords Association

The Residential Landlords Association (RLA) aims to raise private letting standards and provide discount services to the group’s 10,000 plus members.