SDLT holiday ends soon!
SDLT holiday ends soon and returns to previous thresholds of £125K for residential properties, £150K for non-residential land and properties.
Property boundary disputes – getting to the root of the problem
Property boundary disputes are increasing as householders spend more time at home and in their gardens due to the Covid-19 pandemic. It is fuelling a rise in boundary disputes as infrequent niggles have translated into nagging complaints, with overhanging branches, encroaching tree roots and towering hedges proving to be a major source of disagreement. But when it comes to overhanging branches, and fruit falling into a neighbour’s garden, there’s not always a clear-cut answer, even where it poses a health threat. Various protections may impact the right to trim back…
Leasehold property changes for new buyers
Change is in sight for buyers of new leasehold properties, with the passage through Parliament of a bill that will see the ending of ground rent, but it will not help existing leaseholders struggling with onerous terms. The Leasehold Reform (Ground Rent) Bill applies to new, qualifying long residential leases in England and Wales and was tabled in response to one of the Law Commission’s recommendations designed to overhaul residential property in England and Wales. The recommendations address unfair practices in the leasehold system, which has already seen a ban…
Rent forfeitures and Commercial Rent Arrears Recovery
Eviction protection extended for businesses most in need On the 16th June 2021, the Government announced its intention to further extend the Moratorium in relation to commercial evictions in light of the COVID-19 Pandemic. This will now run until March 2022. As far as Commercial Rent Arrears Recovery (CRAR) is concerned, only rent that is more than 554 days in arrears can be collected, this meaning that the rent arrears from March 2020 quarters onwards cannot be recovered as of yet. The Government is preparing a full release on the…
To rent or buy a commercial property – which is the best option?
Deciding to rent or buy premises if you are considering an office move or expansion can be difficult. There are several factors you should consider and making the right decision can be challenging. In this article, we look at the pros and cons of each to give you an idea of what you may wish to think about or discuss with your adviser. Potential investment opportunity Firstly, like with any property purchase, buying a commercial property could be seen as an investment. The property may increase in value, and when…
New legislation for residential landlords
Residential landlords are under pressure to keep on top of a raft of new legislation and guidelines this year, including many protections for tenants extended by the government during the pandemic. They include a continuing hold on evictions, the new debt moratorium scheme, and changes to validating the right to rent, through to permission for pets, new rules on electrical testing and the anticipated extension for carbon monoxide monitoring later in the year. Landlords must also comply with the shift to online reporting to HMRC, under the Making Tax Digital…
Property evictions to resume
Property evictions are to resume but residential tenants will continue to be assisted during the Covid-19 restrictions with longer notice periods remaining in place until at least October 2021. This was announced by The Housing Minister, Christopher Pincher, on the 12th of May. During the initial lockdown in 2020, the Government reformatted the notice periods for residential tenancies, affording tenants extra protection during the pandemic. As part of these temporary changes, a Section 21 Notice (which normally provides a tenant a 2-month notice to vacate a property) was extended to…
Blog: Short-term holiday lets: home-owners must check the small print
As the shutters lift on life, with shops and bars opening and holiday planning underway, property owners may be thinking of cashing in on the demand for UK trips by offering their home for short-term holiday lets, but they may run into trouble if they don’t check the small print. As the shutters lift on life, with shops and bars opening and holiday planning underway, property owners may be thinking of cashing in on the demand for UK trips by offering their home for short-term lets, but they may run…
Blog: COVID-19 – Advice for commercial landlords and tenants
In this article we provide advice for commercial landlords and tenants impacted by the COVID-19 pandemic which has affected almost every industry in the UK, with many businesses experiencing a severe strain on their cashflow as a result. While commercial tenants may be struggling to pay rent in full and on a regular basis, their landlord could also be under pressure if they rely on these payments to maintain their own cashflow. Both parties to a commercial lease contract should understand how their liabilities and obligations have been affected by…
New: Law Society calls for review of end of SDLT holiday to prevent sales collapsing
The Law Society has made a press release that calls for urgent action to prevent the end of the temporary increase in the residential SDLT nil-rate band. This is due to end on 31 March 2021, resulting in possibly, thousands of aborted sales. The Law Society is urging people to write to their MP to call for action. It has also suggested three possible options for the government to address the problem: Extend the temporary increase in the SDLT nil-rate band, thereby providing more time for buyers to complete transactions.…