LI Magazine 66th Edition by Landlord Investor Magazine

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LANDLORD INVESTOR LANDLORD | PROPERTY | INVESTMENT

66TH EDITION | 2022

LO N D O N C A LLI N G ALL LANDLORDS, INVESTORS & PROPERTY PROFESSIONALS | SEE PAGE 04

EPC challenges and concerns | Permitted Development Rights | Get involved in the social housing shake-up Becoming a limited company landlord | Certainty for property investors | Change is coming Save Tax: Adjusting the split of property income between couples

HJ Collection are a specialist developer focusing on Permitted Development rights and have been revolutionising the development sector. With huge UK and Worldwide investor support including successful joint venture partnerships, HJ Collection are able to provide a managed portfolio comprising of multiple contractors and developers nationwide. "A dominating developer with a rooted purpose to contribute to easing the housing shortage through greener purposes."

35%

£35m

372

AVERAGE UPLIFT

TOTAL GDV

TOTAL UNITS

How We Do It We continue to work and forge relationships with several quality contractors who share our business model. Using this combined experience we develop desirable, affordable living spaces through an intelligent and innovative approach to urban regeneration. We professionally manage the whole process on behalf of investors and include investors in updates, site tours and virtual viewings. To get involved with HJ Collection call:

INFO@HJCOLLECTION.CO.UK | HJCOLLECTION.CO.UK HERE FOR YOU TODAY TO ELEVATE TOMORROW

A warm welcome to the 66 Edition of Landlord Investor Magazine. TH

Here we are again folks, I know I always say it but I can't believe we're already in February! As always a very warm welcome to the 66th edition of LI Mag, I'll keep my intro short and sweet today, with just one tiny bit of housekeeping - to remind you we have our first 2022 show in London on March 15th and if you've not already booked your free tickets you'd better get your skates on as they are positively flying out of the door. We have a full update of the coming show and what's on offer on page 4. In terms of contributors we really do have a bumper preshow issue with Paul Mahoney asking again Is the sun setting on city living? Reece Mennie discusses Permitted Development Rights and their implications for property investors. Lorraine Hart asks if Certainty is more important than ever for property investors. James Dempsey explains how to Get involved in

IN THIS ISSUE

04 12 14 16 18 22

Show Update London Calling.

Investment | Nova Is the sun setting on city living?

Investment | HJ Collection Permitted Development Rights and their implications for property investors. Investment | Roma Finace Certainty is more important than ever for property investors.

Investment | BuyAssociation Get involved in the social housing shake-up for 2022. Taxation | Less Tax 4 Landlords Save Tax: Adjusting the split of property income between couples

LANDLORD INVESTOR MAGAZINE

Editor Tracey Hanbury Design Marc Riley Photography Aneesa Dawoojee Printing IOP Marketing

the social housing shake-up for 2022. Ben Rose helps us with Save Tax: Adjusting the split of property income between couples. Vincent Burch discusses Becoming a limited company landlord. Jeni Browne explains why Change is coming. Raphael Lesser takes a look at Efficient Problems: EPC challenges and concerns. Under the Spotlight, Residential Estates explain why they are Passionate about achieving the best outcome for your property, Styled® take us on a journey From understated minimalism to opulent luxury and Host & Stay share A passion for property. Kam Dovedi wraps us up by continuing a theme and discussing Permitted development changes: opportunity knocks. Again, I really hope you find this issue helps your property investment journey and I look forward to seeing you in March. TH.

24 26 28 32 34 36 38 Follow us:

Finance | Vincent Burch Becoming a limited company landlord

Finance | Mortgages for Business Change is coming.

Finance | Loans Arena Efficient Problems: EPC challenges and concerns. Exhibitor Spotlight | Residential Estates Passionate about achieving the best outcome for your property Interiors Spotlight | Styled® From understated minimalism to opulent luxury.

Lettings Spotlight | Host & Stay A passion for property.

Education | Premier Property Permitted development changes: opportunity knocks.

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@LandlordInvestmentShow

Statements and opinions expressed in articles, reviews and other materials herein are those of the authors; the editors and publishers and do not under any circumstances constitute investment or legal advice. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. LIS Media, Tenants History Limited and our contributors will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through the promoted links. Published by LIS Media, 27 Stafford Road, Croydon CR0 4NG. www.landlordinvestmentshow.co.uk | info@landlordinvestmentshow.co.uk

Meet the team TRACEY HANBURY CO-FOUNDER / DIRECTOR

Team: Donegal GAA Song: Galway Girl, Steve Earle Film: Dirty Dancing Food: Indian Likes: A busy show - can’t beat it Dislikes: Rudeness Fave thing about LIS: Building client relationships

KIERAN MCCORMACK BUSINESS DEVELOPMENT MANAGER Team: Manchester United Song: Bonkers, Dizze Rascal Film: American Gangster Food: Indian Likes: Family time, Man Utd, golf (not necessarily in that order) Dislikes: Tinned sweetcorn Fave thing about LIS: No day is the same (hence the song choice)

CHARLOTTE DYE HEAD OF CLIENT RELATIONS & OPERATIONS Team: Spurs Song: The view from the afternoon, Arctic Monkeys Film: E.T Food: Chinese Likes: Anything four legged and furry Dislikes: Clowns and Spiders Fave thing about LIS: Office cuddles with Ollie

ALICIA CELA HEAD OF ACCOUNTS

STEVE HANBURY CO-FOUNDER / DIRECTOR

Team: Crystal Palace Song: Plastic Dreams, Jaydee (Original) Film: Goodfellas Food: Indian Likes: Team meetings in the pub Dislikes: Bad manners Fave thing about LIS: Show day (as anything can happen)

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MARC RILEY CREATIVE DIRECTOR

Team: Letterkenny Gaels Song: What’s going on, Marvin Gaye Film: City of God Food: Sea Likes: Clean typography Dislikes: Last minute edits Fave thing about LIS: The website

BEN PAYNE SALES EXECUTIVE

Team: Manchester United Song: Brown eyed girl, Van Morrison Film: Meet the Parents Food: Italian Likes: Hitting a nice drive on the fairway (not!) Dislikes: Salad Fave thing about LIS: Meeting new clients and building rapport

LANDLORD SURVIVAL GUIDE IV

LANDLORD INVESTOR

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LANDLORD | PROPERTY | INVESTMENT

ONCE MORE UNTO THE

55TH EDITION | 2020

[ D I G I TA L] B R E A C H BACK ON THE HORIZON? SEE PAGE 6

LANDLORD SURVIVAL GUIDE III

OLLIE HANBURY ENTERTAINMENT & SECURITY MANAGER

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IN THIS ISSUE...

Team: Barcelona FC Song: Hotel California, The Eagles Film: Shawshank Redemption Food: Anything Spanish (I'm very biased lol) Likes: Cooking great food Dislikes: Liars. Oh, and liver (can't stand it) Fave thing about LIS: Socialising with the whole team

LANDLORD INVESTOR

WRITTEN BY INDUSTRY EXPERTS COVERING ALL ASPECTS OF BUY-TO-LET

63 ND EDITION | 2021

Two sides of the same coin

Opportunity Knocks

Once more unto the (digital) breach

Why landlords should let to families on benefits

Buy-to-let vs Build-

Locked Down, But Not Quite Closed Down

Let technology take the strain

Covid-19 triggered opportunity

Advice for landlords during the pandemic

What do I do if I'm a student landlord?

LANDLORDINVESTMENTSHOW.CO.UK/ LI-MAGAZINE

LANDLORD INVESTOR 66TH EDITION

Coronavirus & Taxation Landlords Voice

F R E E A D M I S S I O N

LIVE SHOW

LINGS L I

LO N D O N

15 MARCH 2022

T H E &

U K ’ S

N U M B E R

P R O P E R T Y

O N E

L A N D L O R D

I N V E S T M E N T

S P O N S O R E D

S H O W

S P O N S O R

B Y

M E D IA

PA R T N E R

Learn more and reserve your FREE show tickets at www.landlordinvestmentshow.co.uk

S H O W U P D AT E

London Calling

LANDLORD INVESTOR 66TH EDITION

S H O W U P D AT E

Following the huge success of 2021, the National Landlord Investment Show returns to Old Billingsgate on March 15th.

Our return to live shows and a new London home was quite an undertaking last year, moving to such a big venue and building a show from the ground up was no small undertaking, but a decision which paid dividends in terms of visitor experience, cementing our position as the UK’s Number One landlord and property investment exhibition. Suffice to say we are delighted to be returning on March 15th to host our 72nd live show since 2013 (72 shows in 9 years, where did that go?).

Property Elevator LIVE!

If you didn't visit last time, Old Billingsgate is located on the River Thames in the heart of the City, right between Tower Bridge and London Bridge, on the North Bank. Not only a great location, Old Billingsgate is an absolutely stunning venue which spans two floors and is spacious, comfortable and easy to navigate. Our last London show here, post-lock-down in October 2021 saw over 2000 guests come through the doors, so the space really is perfect.

Audience places are free, but limited, so if you’ve not already registered to attend we advise you do so via the LIS website ASAP.

We are also thrilled that Nova Financial Group and Less Tax 4 Landlords will be joining us again as Show Sponsors. HJ Collection are also on-board as Co-Sponsor, with our sister brand Property Notify the official Media Partner. The success of an event like ours is dependant upon long and fruitful relationships with everyone involved and we see the continued support of all brands as a huge mark of confidence in our own. Andrew Neil returns to host morning panel session As always, the show has an incredible range of exhibitors, plus expert seminars and panel debates featuring the cream of the UK property sector. Veteran broadcaster Andrew Neil will be returning to chair our Morning Panel Debate: '2022 Property Forecast: Rain or Shine?', along with Chris Bailey (CoFounder, Less Tax 4 Landlords), Kam

LANDLORD INVESTOR 66TH EDITION

The only TV show that gives budding property developers the chance to partner with a seasoned professional returns to join our March 15th show. The Property Elevator Angels, John Howard, Ranjan Bhattacharya, Helen Chorley, Paul Mahoney and Nicholas Wallwork will be considering pitches from aspiring property entrepreneurs live on the day between 13:15 and 14:45.

Dovedi (Founder, Premier Property Education) and Naveen Jaspal (Chief Operating Officer, Mashroom). The late-morning session deals with the perennial question: 'What investment is right for you in 2022?', Chaired by Paul Mahoney, (Founder & MD Nova Financial Group) and featuring Kam Dovedi, (Founder, Premier Property Education), Reece Mennie (CEO, HJ Collection) and Josh Riddett (MD, Easy Crypto Hunter). The final panel session of the day: ‘A commonwealth of post-Brexit opportunity and building wealth through relationships’ aims to take a look at broader opportunities in the current investment landscape. Hosted by Tony Gimple and chaired by Jonathan Metliss the panel includes Laxman Kumar Nasarpuri and Russell Bahar. All sessions offer the chance to hear valuable opinion and insight from the inner sanctum of the UK property sector.

4 rooms of back-to-back seminars We'll also have 4 rooms filled with back-to-back seminars from experts covering all compass points of the buyto-let sector, plus a venue packed with exhibitors. If you have an interest in buy-to-let or property investment you really can't afford to miss it. We have everything you could conceivably need with Legal Advice, Finance Suppliers, Investment Opportunities, Insurance, Tax Experts, Property Management, Education & Mentoring, Latest Proptech, Furnishings / Decor and myriad other helpful services, all under one roof. Show tickets are moving at the pace of the free cakes at our last show - to find out and reserve your place visit www. landlordinvestmentshow.co.uk/15march-london

Audience places are free, but limited, so if you’ve not already registered we advise you do so ASAP.

M O R N I N G PA N E L D E B AT E | 1 0 : 1 5 – 1 1 : 1 5

M A R C H 1 5 th L O N D O N | O L D B I L L I N G S G AT E 2022 PROPERTY FORECAST:

Rain or Shine?

ANDREW NEIL

CHRIS BAILEY

KAM DOVEDI

NAVEEN JASPAL

BROADCASTER & JOURNALIST

LESS TAX 4 LANDLORDS

PREMIER PROPERTY

MASHROOM

P A N E L S P O N S O R E D B Y : L E S S TA X 4 L A N D L O R D S | P R E M I E R P R O P E R T Y | M A S H R O O M

Our March 15 Show panels sessions have experts from the full spectrum of the buy-to-let community, but places are limited.

PA N E L D E B AT E | 1 1 : 3 0 – 1 2 : 3 0

M A R C H 1 5 th L O N D O N | O L D B I L L I N G S G AT E

What investment is right for you in 2022?

PAUL MAHONEY

KAM DOVEDI

REECE MENNIE

JOSH RIDDETT

NOVA FINANCIAL

PREMIER PROPERTY

HJ COLLECTION

EASY CRYPTO HUNTER

PA N E L S P O N S O R E D B Y: N OVA F I N A N C I A L | P R E M I E R P R O P E R T Y | H J C O L L EC T I O N | E A S Y C R Y P TO H U N T E R

LANDLORD INVESTOR 66TH EDITION

LONDON

OLD BILLINGSGATE

MARCH 15th 13:15 - 14:45

PROPERTY ELEVATOR LIVE!

JOHN HOWARD

HELEN CHORLEY

PAUL MAHONEY

NICHOLAS WALLWORK

RANJAN BHATTACHARYA

PA N E L D E B AT E | 1 5 : 1 5 - 1 6 : 1 5

M A R C H 1 5 th L O N D O N | O L D B I L L I N G S G AT E

A Commonwealth of post-Brexit Opportunity and Building Wealth through Relationships

H O S T E D B Y T O N Y G I M P L E & C H A I R E D B Y J O N AT H A N M E T L I S S

TONY GIMPLE

LAXMAN KUMAR NASARPURI

RUSSELL BAHAR

JONATHAN METLISS

PANEL SPONSORED BY: GLOBEINVEST VENTURES

LANDLORD INVESTOR 66TH EDITION

We'd like to thank our March 15th show sponsors, co-sponsor & partners...

S P O N S O R E D

S P ON SOR

B Y

M EDIA

Thank you.

PARTN ER

Advice & Guidance

I N V E S T M E N T | N O VA F I N A N C I A L

PA U L M A H O N E Y N OVA F I N A N C I A L G R O U P

Is the sun setting on city living? 12

LANDLORD INVESTOR 66TH EDITION

I N V E S T M E N T | N O VA F I N A N C I A L

I wanted to talk about a fairly common theme that's been discussed in the media recently about a London exodus, or even more so a central city exodus.

So not just focused on London, but all major cities across the UK and worldwide, and the potential of people maybe no longer wanting to live in city centers because of the COVID-19 realization of more people working from home and the likelihood of that continuing. I suppose, first off, just to give my view on this is that I don't agree that this will be the case. I haven't seen any hard data that confirms that that has been the case. But even if there were hard data, I've been working in the city of London for many years now. And for anyone that works in the city, they'll know that London generally clears out on a Friday. A lot of people don't actually live in London, but purely travel into London to do business, their day job and so on. They might live in the home counties or even further afield so it's not uncommon for people to leave the city if they don't have to be there, but the benefits of living in central London or in and around central London, aren't just business. For example, I live in Zone 2 London and I don't just live there because it's 15 minutes from the office. I live there because of the cafés, the bars, the restaurants, the gyms, the facilities and amenities that it offers over and above employment. And there's been a very long-term trend toward inner city living. If we look at somewhere like Manchester as a perfect example, 20 years ago, there was only a thousand people living in Manchester city center.

LANDLORD INVESTOR 66TH EDITION

Today there's 30,000, so 30 times the amount of people living in that city center. Previously Manchester was mostly retail and commercial space. Everyone lived out in the towns, they travelled in. Now people want to live centrally and I believe that this is a generational trend, more so than anything else. And it's been quite a long-term one because if we look at the older generations, for example, the baby boomers, who in the past controlled the market, they were more family focused. They got married earlier, had children earlier and they wanted the big family home. Whereas young professionals today, they're getting married much later, they having children later. They're generally working longer hours and they're more focused on having facilities and amenities on their doorstep than having the big family home. They're renting for longer, there's less home ownership. There's a whole range of things that are mostly being driven by preferences here toward why people live in city centers over and above where they work. I also read a recent report which said over the next 20 years the amount of people living in urban areas, so central locations is expected to increase from just over 50% worldwide to at least 60%. That's literally billions of people. Now, granted that report was published pre-COVID-19, but I also read a recent report that confirmed that the population of New York central had actually grown over the COVID-19 pandemic as opposed to shrunk.

I do think that there is quite a lot of media sensationalization of the idea of people abandoning the city. I don't think that will be the case and applying that to property investment, I certainly still believe that as we get back to some form of normality and things like entertainment and sport and working in an office, return to the norm, that central location properties will still be the way to go, because that's where you have the most depth in the market.

I live there because of the cafés, the bars, the restaurants, the gyms, the facilities and amenities that it offers.

INVESTMENT | HJ COLLECTION

REECE MENNIE CEO, HJ COLLEC TION

Permitted Development Rights and their implications for property investors

LANDLORD INVESTOR 66TH EDITION

INVESTMENT | HJ COLLECTION

Permitted Development Rights (PDRs) are constantly changing for the better, with the investment potential for strong residential conversions accelerating faster than ever.

Such changes have occurred as recently as December 2021, when the government announced that local businesses no longer require planning permission to put up tents and marquees as a permanent solution for additional space. On a far bigger scale, PDRs can be used to add value to a property by transforming underperforming or defunct spaces into a prime residential property where over the last year or two, updated standards and new heights of quality have made this process more appealing, lucrative, and socially conscious than ever before. As such, it’s worth taking a moment to reflect on how PDRs have changed over time, how they look today – and their promising implications for investors.

conversions, provided they’re built within certain parameters – rear extensions must use similar building materials to the house as it stands, for example. Perhaps the most exciting implication for investors, however, is that PDR also encompasses large-scale developments in meaningful and potentially lucrative ways. As of August 2021, the government solidified in law the notion of Class MA (Mercantile to Abode) – which, as the name suggests, allows developers to convert Class E properties (which include retail, office, and certain industrial units, among others) into residential properties. This is a huge opportunity for investors and entrepreneurs alike.

A brief definition

Investment opportunities

What are permitted development rights?

Of course, for those who may have played closer attention to PDRs during their 2015 revamp, this latest development might be tinged with caution: after all, shortcuts to changing the use of buildings does come hand-in-hand with the possibility for a minority of bad developers to produce sub-par housing.

The UK government’s definition is quite straightforward: “Permitted development rights are a national grant of planning permission which allow certain building works and changes of use to be carried out without having to make a planning application.” PDR is essentially a short-cut: a means of making changes to properties without the lengthy process of acquiring planning permission. For businesses, as we’ve seen, this has great implications, as pubs and restaurants can expand their capacities and stay compliant with COVID-related restrictions. For homeowners, too, this can be very helpful for various kinds of extensions and

LANDLORD INVESTOR 66TH EDITION

Today, however, this kind of concern is a thing of the past: according to the House of Commons Library, all office to residential conversions granted by PDRs require “adequate natural light in all habitable rooms,” while April 2021 brought with it the assurance that all PDR projects or schemes must comply with national standards in terms of space. This means that investors and developers are now able to produce quality housing in prime regions which aren’t currently living up to

their full potential, snatching lucrative possibilities from the jaws of stagnation. Another key advantage of this application of PDR is that its aims are firmly aligned, not only with development and investment opportunities, but with attempts to resolve the UK’s housing crisis. A parliamentary publication from July cites data from Policy Exchange which found that PDR “has created tens of thousands of new homes, especially in areas like London where the UK’s housing shortage is most acute” – and that the new Class MA rules are likely to increase PDR’s contribution still further. A win-win situation As PDR rules continue to grow and develop, convenience and opportunity are meeting increasingly high standards of quality, with new conversions breathing fresh life into areas which are not only prime residential locations, but which benefit immeasurably from an increased housing stock. As such, investors will find it advantageous to keep their ears to the ground for the conversionbased opportunities which are sure to continue emerging in the property space. Who we are HJ Collection is a nationwide developer whose specialisations include PDR. Our expertise in this area is demonstrated in developments like the Crown Buildings, a former local tax office in Merseyside which is currently being transformed from a state of disuse to a prime rental location.

INVESTMENT | ROMA FINANCE

LO R R A I N E H A R T H E A D O F C R E D I T O P E R AT I O N S ROMA FINANCE

Certainty is more important than ever for property investors

LANDLORD INVESTOR 66TH EDITION

INVESTMENT | ROMA FINANCE

In this world, nothing is certain except death and taxes.

Businesses and investors crave certainty. Forward planning, investment and recruitment, are key to ensuring a clear path to business growth.

Cast-iron funding solutions

Despite the COVID19 pandemic, which continues to evolve, the property market has spectacularly defied expectations, fuelled by Rishi Sunak’s tax break and the resilience of the lending sector in unexpected conditions.

Time is money on property refurbishments and developments, and a faster completion and guaranteed funding can make all the difference to a project or a time-sensitive purchase.

We've hopefully seen the worst of the pandemic, but we know it’s been a turbulent two years, meaning significant challenges remain for the property and finance markets and those within it. Continuing uncertainty Despite steady economic growth in 2021, all sectors are still approximately 2% below their pre-pandemic level. Furlough and the self-employed SEISS scheme have ended, although we’ve yet to see the wider impact of this on employment, household finances and the economy. The UK has also been hit by the fuel and food supply crisis in recent months and we do not yet know how 2022 will continue to evolve with a heightened cost of living and new variants of the COVID19 virus. Supply chain issues are causing delays in construction and development too, and it's difficult to predict what the next six months will bring. Build relationships with lenders who are proactive about this and be transparent at the outset about the feasibility of a project’s timelines and the reliability of the contractors. Also ask them what will happen on bridging finance where the work has been delayed. Are extensions an option for example?

LANDLORD INVESTOR 66TH EDITION

Investors require certainty and that includes assurance of fast funds, not just a quick app-to-offer turnaround.

That's why Roma has reinvented its processing to launch RomaFLOW - a fast new channel for straightforward cases. Speed, ease and certainty We wanted to bring speed and certainty back, so our new streamlined processing channel has fewer stages, reduced documentation and enhanced technology to help move cases smoothly to offer and completion. When you submit a standard bridging enquiry to Roma, it automatically goes into the RomaFLOW process, unless you’ve told us of any complex circumstances or challenges. Importantly, our new process isn’t just about being much faster than before, but about offering certainty.

Cases are fully mandated on instruction of the solicitor. This means that when the solicitor is instructed, which could be 48 hours after submission, the case is ready to fund. This is provided no barrier serving information reveals itself during the legal process. It’s more important than ever that lenders move quickly and go the extra mile. We wanted to give our borrowers, certainty early in the process that our decision making based on the facts presented is guaranteed. It gives peace of mind and enables the investor to start planning their project with confidence. No one can claim to know what’s going to happen to the economy in the next six or twelve months. But by choosing speed and certainty when looking for a short-term lender you can minimise delays to projects and boost the chances of a successful outcome. Roma can help investors with auction finance, refurbishment, standard residential bridging commercial bridging, developer exit, development finance, conversion, buy-to-let and holiday let. To find out more contact Roma on 0161 817 7481 or email hello@ romafinance.co.uk. Visit the website www.romafinance.co.uk

Choosing speed and certainty when looking for a short-term lender you can minimise delays to projects and boost the chances of a successful outcome.

I N V E S T M E N T | B U YA S S O C I AT I O N

JAMES DEMPSE Y G R O U P S A L E S D I R E C TO R B U YA S S O C I AT I O N

Get involved in the social housing shake-up for 2022

LANDLORD INVESTOR 66TH EDITION

I N V E S T M E N T | B U YA S S O C I AT I O N

In March this year, the government is expected to bring forward some major reforms to social housing in its Social Housing Regulation Bill.

It will review conditions and staff in social housing across the country, and focus on professionalising the sector to improve standards for tenants. The social housing sector is huge. The latest figures show that the space accounts for 4.4 million homes across the UK. And there is a small but growing number of private investors getting involved in the space, which is hoped will further enhance living conditions for thousands of tenants. So why are property investors branching out into this niche market? Investing for positive outcomes Investing in social housing is becoming a popular way of generating a reliable income from residential property, while also making a difference in local communities. Often known as impact investing, a rising number of investors want to know their funds are generating positive outcomes for others as well as themselves. A major driver for investing in social housing for many investors is the tenants who benefit. Social housing helps some of the most vulnerable adults and households in the country. This includes those on low incomes, as well as certain groups of people such as refugees or asylum seekers. A long-term commitment Investing in a social housing lease provides landlords with a contracted rental income over a fixed period. The rental contract is not with the individual tenants but instead is typically with national service providers or housing associations, commonly agreeing to a five- to 10-year term.

LANDLORD INVESTOR 66TH EDITION

Like much of the property market in the UK, investing in social housing is a way of generating a steady income stream without the volatility that comes with investments such as stocks and shares. How you can get involved Property investment company BuyAssociation, which has more than 17 years of experience in the property industry, is offering investors the chance to be a part of this growing market. Working with national housing management providers, housing associations and public service providers, BuyAssociation is able to offer a range of opportunities to investors who are looking to make an impact as well as a profit. Investors can purchase assured rent housing association leases through BuyAssociation which provide accommodation for vulnerable people. Offering yields of between 7 and 8 per cent, investors also benefit from zero letting costs or management fees. All utility bills are also covered for tenants, offering additional peace of mind to the landlord. The homes are newly refurbished in line with requirements of a corporate sitting tenant, so investors can be assured of the quality of the property. With the government’s upcoming shake-up of standards in the sector, this is an added benefit for investors who want to ensure they are compliant with the latest industry requirements.

Investing in social housing is becoming a popular way of generating a reliable income from residential property, while also making a difference in local communities.

To find out more about investing in social housing through BuyAssociation, contact the team on +44 (0) 333 123 0320 or visit www. buyassociation.co.uk.

TA X AT I O N | L E S S TA X 4 L A N D L O R D S

BEN ROSE H E A D O F G R O U P B U S I N E S S D E V E LO P M E N T L E S S TA X 4 L A N D LO R D S

Save Tax Adjusting the split of property income between couples

LANDLORD INVESTOR 66TH EDITION

TA X AT I O N | L E S S TA X 4 L A N D L O R D S

The Income Tax Act 2007 (section 836) allows for income from properties that are jointly owned by married couples or civil partners that live together, to be legally split 50/50. However, whilst most landlords are aware that income can be shared equally by married couples for tax purposes, we receive many phone calls at Less Tax 4 Landlords from landlords who are not aware of the possibility to make changes to this arrangement.

Here are the facts:

Changes to the default 50/50 split on property income can be declared using what’s known as Form 17. Form 17 enables landlords to make changes to the default 50/50 split for tax purposes to reflect the actual ownership of the underlying assets. This is known as ‘actual basis’.

•

Form 17 is only used if the beneficial interests are unequal

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Form 17 can be used on any type of property provided it is held ‘jointly’ (excluding beneficial joint tenants)

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Form 17 cannot be used to change the income split back to 50/50

•

Where the partners have unequal income tax rates, it might make sense for the partner paying more tax to reduce their proportion of income by transferring a greater share of the beneficial interest in their property to their spouse or civil partner. Given the section 24 tax changes, this can even result in the difference between a tax bill that the couple can afford to pay and one that sees them making a post-tax loss. What does Form 17 do? You can submit Form 17 if you want to change the split of income to reflect your actual share of ownership, rather than being treated as if you own the property 50/50. In order to change the split, you’ll need to provide evidence that your beneficial interests are unequal in the form of a declaration or deed.

The declaration on form 17 must reach HMRC within 60 days from the date of signature of the last spouse to sign The change in beneficial interests does not affect capital gains tax for married couples and civil partnerships though Stamp Duty Land Tax (SDLT) MAY arise if the transaction involves ‘chargeable consideration’ in the form of say a cash payment or transfer of debt, although this can usually be avoided or mitigated

Form 17 should not be used if: •

Income is from commercial letting of furnished holiday accommodation

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Income is from a partnership

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Income is from shares in a company

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Property is held as beneficial joint tenants where you are both jointly entitled to the whole of the property and income. (You will need to change the title ownership from Joint Tenants to Tenants in Common in order to declare unequal interest in the property)

Form 17 can be completed online at GOV.UK however it’s best to get advice if you are unsure about whether you are paying the correct amount of tax or have any doubt about: •

your beneficial interest in property held in joint names

•

your beneficial interest in income from such property

•

whether you should complete Form 17

What if we don’t own the property jointly? You can still benefit from Deed of Trust work even if you don’t own the property jointly. Form 17 will not apply, and you simply make the changes to your tax returns effective from the date of the last spouse to sign. How much does a Deed of Trust cost? To give an indication, our conveyancing practice currently charge £300 per property for a complete service, including preparing the legal documentation and creating a deed of trust, severing the tenancy if needed, plus filing the Form 17 paperwork where appropriate. Such a service will suffice for most landlords, although where a more complex agreement is required, it is likely to cost more.

If you would like us to estimate your tax savings using Form 17 and/or Deed of Trust requirements, you can get a quote by visiting lt4l.co.uk/quoteDOT or get in touch on 0203 735 2940. Whilst Form 17 may help if your partner pays a lower rate of tax, if you are a portfolio landlord and a higher-rate taxpayer then it may not be the best option and you should consider taking Less Tax 4 Landlord’s free initial assessment to find out if you’re as tax efficient as possible. Visit lt4l.co.uk/taxefficient

LANDLORD INVESTOR 66TH EDITION

FINANCE | VINCENT BURCH

VINCENT BURCH M O R TG AG E D I R E C TO R V I N C E N T B U R C H M O R TG AG E S E R V I C E S

Becoming a limited company landlord

LANDLORD INVESTOR 66TH EDITION

FINANCE | VINCENT BURCH

Investing in property through a limited company has become a popular choice for many landlords.

According to research by estate agency Hamptons, in 2020 a total of 41,700 new limited companies were set up for buyto-let businesses, an increase of 23% on 2019*.

there’s been a shift in demand for housing from big cities towards more provincial towns and villages. Look at local trends to choose the best location for your investment.

The growth of limited company buy-tolets looks set to continue, but is it right for all landlords? Let’s look at some of the factors you need to weigh up when considering such a decision:

Limited liability

Tax benefits Landlords operating within a limited company are able to claim 100% limited company mortgage interest relief and benefit from a lower rate of Corporation Tax, rather than Income Tax, on profits. This is seen as a major benefit when compared to private landlords, where mortgage interest relief is restricted to the basic rate of income tax and all earnings from rental income are subject to taxation. However, as mortgage interest rates tend to be higher, the benefits of setting up a limited company for buyto-let property generally favours higher income taxpayers or multiple property landlords. Always speak to a tax adviser about your circumstances. Rising interest rates Low interest rates have kept finance costs down over recent years. However, with the Bank of England having recently increased the base rate for the first time in three years we expect the market to move towards a rising interest rate environment. This will have a financial impact on many landlords because their repayments are likely to increase when their current fixed rate comes to an end. Factoring this into your projections will help smooth any potential financial fluctuations in the future.

As a limited company landlord, your personal finances are largely protected. If something goes wrong your liability is limited to the value of your financial investment in the business. You can further mitigate this risk by taking out professional indemnity and personal liability insurance. Strict recordkeeping and reporting There is more administration when operating as a limited company set-up and you must keep accurate financial records throughout the year. You are required to file company accounts and an annual tax return for the business at Companies House as well as your usual self-assessment Income Tax return. This all adds up to higher accountancy fees. And from 1 April this year, as part of the digitisation of UK Tax, it’ll be mandatory for all VAT-registered businesses to keep digital records and submit their VAT return through Making Tax Digital (MTD). Planning for the future Think about what you want to do with your property in the future. If you plan to transfer ownership to a family member, then it’s simpler and more tax efficient to do this through a limited company. A professional tax adviser will be able to talk you through the implications for Inheritance Tax, Stamp Duty and Capital Gains Tax.

Market trends

Arranging the right mortgage finance

Another emerging change is the way people live and work. Since the pandemic

Competition amongst lenders to offer mortgage finance to limited company

landlords has intensified in recent years, so speaking to an independent broker to find the right mortgage has become even more important. Even though interest rates can differ between buy-to-let limited company mortgages and those deals on offer to landlords taking out a mortgage in their own name, at Vincent Burch, we have access to both. Limited company mortgage rates for buy-tolet properties are typically higher than those taken out by individuals but because we deal directly with specialist lenders, we can find you the best deal for your specific circumstances. It’s also worth noting that whatever your situation, limited company mortgage criteria requires the company to be set up as one of the following: Special Payment Vehicle (SPV) – a company created for a specific purpose, in this instance for the purchase and management of buy-tolet properties. Trading company – typically an existing company looking to invest in a buy-to-let property to add to a current portfolio of assets. Unlimited mortgage advice As an independent mortgage broker with extensive experience, we’re happy to talk to you about all aspects of your mortgage finance. We understand the buy-to-let market and have access to a wide range of buy-to-let limited company mortgages from specialist lenders, including many that are not available on the high street. Our friendly team will find you the best limited company mortgage rates available and help you make the right choice for your finances and your business. Call 01603 851534 or email advice@vincentburch.co.uk

*Source: Hamptons, December 2020 Lettings Index

LANDLORD INVESTOR 66TH EDITION

FI NAN C E | M O RTGAG E S FO R B U S I N E S S

J EN I B ROWN E M O R TG AG E S F O R B U S I N E S S

Change is Coming

LANDLORD INVESTOR 66TH EDITION

FI NAN C E | M O RTGAG E S FO R B U S I N E S S

While we all faced continued uncertainty throughout 2021 due to the pandemic, the UK housing market soldiered on.

With an average 9.8% increase in house prices, landlords should be in a good position for 2022. However, before we get too carried away with what we want to do with all the extra equity, there are three important changes we need to talk about first.

Finally, EPC regulation changes for buy to let properties. Yes, these will not be fully enforced for all tenancies until 2028, but when a study from Shawbrook Bank revealed that 15% of landlords didn't even know changes were coming, I was shocked.

As of 6th April 2022, dividend tax will increase by 1.25%. For the growing number of landlords using limited company investment structures and who pay themselves and/or shareholders dividends, you’re likely to see a rise in your tax bill. How much this impacts you is entirely down to your individual tax position, but please seek professional tax advice if you’re concerned.

Especially as from 2025, all buy to let properties with new tenancies will need an EPC rating of C, which means that many of you will need to make energy efficiency improvements to your properties in the next three years.

Now, casting our minds way back to the pre-pandemic ages of 2019, the Government announced the Renters’ Reform Bill. With two delays throughout 2020 and 2021, patience is (rightly so) wearing thin. The bill aims to “enhance” renters’ rights and is set to include the removal of “no fault” Section 21 evictions. Frustratingly, we don't know an awful lot more than that. Surely it can't be pushed back a third time, so keep an ear out for that, as it’s sure to be big news when it lands.

LANDLORD INVESTOR 66TH EDITION

For the growing number of landlords using limited company investment structures and who pay themselves and/ or shareholders dividends, you’re likely to see a rise in your tax bill.

Of course, these improvements aren’t free, so NOW is the time to prepare financially. Leaving something like this to a deadline rush could firstly cost you more than if you address it now and secondly, leave you open to letting and remortgage issues later down the line. As a landlord myself, these are not financially gambles I am willing to take! While these changes may initially appear daunting, it's an exciting time to be a landlord! Rental demand remains high, and house prices will continue to rise for at least the next five years. So go forth and enjoy it!

FI NAN C E | LOAN S AR E NA

RAPHAEL LESSER S E N I O R M O R TG AG E A DV I S O R LOA N S A R E N A

Efficient Problems: EPC challenges and concerns

LANDLORD INVESTOR 66TH EDITION

FI NAN C E | LOAN S AR E NA

In 2025 Energy Performance Certificate (EPC) criteria is going to change. Private landlords will need to take on a greater responsibility regarding the efficiency of their properties due to change in government regulations.

What specifically is changing? From 2025, EPC ratings for new buy-to-let rental agreements will need to have an EPC rating of ‘C’ or higher. This is a 2-step rise from the current minimum, which sits at rating ‘E’. From 2028, all buy-to-let properties within the private rental sector will need to follow these new regulations. What challenges does this new regulation pose for landlords? Consider the cost One important factor that landlords will need to start considering and preparing for – the cost of property modifications. For many landlords, this is coming at a difficult time. The National Residential Landlord Association (NRLA) latest data shows that the pandemic has witnessed 23% of private landlords face a loss of rental income. Thankfully, there is a range of different things property owners can do to improve their energy efficiency, with a variety of price tags. Changes such as heat pumps (air-to-air) and mechanical ventilation with heat recovery systems (MVHR) can have huge impacts on the efficiency of a home and on average cost between £2,000-£5,000 according to Checkatrade. Smaller, cheaper options can range from including a smart metre (free from some electric companies), changing all halogen bulbs to LED bulbs, draught proofing (professional draught-proof could cost around £200 for a whole house) and adding a mist shower to minimise wasted water.

LANDLORD INVESTOR 66TH EDITION

Whereas more expensive changes could include increasing insulation (from £6,000 - £20,000 depending on the size of your property), adding solar panels, installing a new boiler or including double/triple glazed windows (potentially £4,000 - £7,500). Properties with higher energy efficiency often result in cheaper energy bills, and with energy pricing about to spike – investing in EPC improvements now could be more attractive to prospective tenants in the near future.

If you’re thinking of moving house and letting out your current property, now would be an ideal time to re-mortgage. Interest rates are currently remaining low, and even after the second UK base rate rise in the past 3 months, you can still take advantage of competitive rates and raise capital through remortgaging a property. This would therefore generate the sufficient funds needed for the potential works and begin their preparations for the EPC change. Furthermore, now is a great time to lock yourself into a long-term fixed product to protect yourself against any future rate increases.

Re-financing for refurbishments Getting ahead of the game could provide long-term savings. Now is an ideal time for homebuyers to start considering residential EPC changes as an investment opportunity.

Loans Arena are here to help. We can help find a lender that suits your requirements, from finding a buy-to-let mortgage to fast, alternative finance options such as bridging loans to cover short-term renovation costs.

Thankfully, there is a range of different things property owners can do to improve their energy efficiency, with a variety of price tags.

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Any property used as security, including your home, may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

E X H I B I T O R S P O T L I G H T | R E S I D E N T I A L E S TAT E S

Passionate about achieving the best outcome for your property

LANDLORD INVESTOR 66TH EDITION

E X H I B I T O R S P O T L I G H T | R E S I D E N T I A L E S TAT E S

Property services group Residential Estates reflect upon 30+ years of supporting the UK property sector.

We are Residential Estates, one of the UK's leading property investment & management companies. Established over 30 years ago in the historic Roman city of Chester, Residential Estates now provides bespoke investment advice, UK wide property investment sales, and asset management, combining their personalised commitment to client care and huge experience in both short and long term lettings, as its core services. Residential Estates has built a strong reputation on professionalism, honesty, and prides itself in the many long standing client relationships that continue to return month after month, over 70% of our monthly business comes from repeat or referral clients. For any investor, either just starting out, or for more experienced portfolio owning landlords, Residential Estates specialises in Buy-To-Let residential property, Purpose Built Student Accommodation (PBSA), Short Term, and Holiday Letting properties, we offer clients access to the UK's most exciting and highest yielding property investments available. Our experienced team of property investment specialists carry out extensive research and hand pick premium opportunities that fit with our clients requirements when choosing a potential development. Also, having forged, solid long standing relationships with many of the UKs most renowned developers, we are proud to be able to offer safe, secure and high quality products. With an almost combined

LANDLORD INVESTOR 66TH EDITION

120 years of experience across the Investments Team, we're here to address any of your property enquiries, questions and worries. For investors or landlords that don't have the time to manage and look after their own investments, Residential Estates also offers a whole range of management services and solutions, for both long and short term lets. Taking advantage of the ever-increasing demand for short term lets across the UK, Residential Estates has great relationships with relocation companies and tourist operators requiring managed high quality accommodation around the UK, and can easily find tenants for your property, providing a comprehensive hands, and stress free option for all landlords. Having recently moved into new offices, at Cuckoos Nest, in the picturesque setting of Pulford, Chester, Residential Estates can now offer on-site seminars, site visits and 1 to 1 investor consultant meetings. Providing monthly webinars, along with daily free content on their website, including property location guides, hints and tips for both investors and landlords, Residential Estates is more than just a property company. For a no obligation chat with any member of the team please feel free to call 01244 343 355 or email sales@ residential-estates.co.uk or visit www. residential-estates.co.uk

For investors or landlords that don't have the time to manage and look after their own investments, Residential Estates also offers a whole range of management services and solutions.

I N T E R I O R S S P O T L I G H T | S T Y L E D®

From understated minimalism to opulent luxury

LANDLORD INVESTOR 66TH EDITION

I N T E R I O R S S P O T L I G H T | S T Y L E D®

Interior design agency Styled® add value by creating engaging and memorable environments.

Who is Styled?

Accommodation Services

Styled is a luxury interior design agency providing end-to-end design services for those desiring something extraordinary from their accommodation, commercial, hospitality or residential interiors.

With our vast experience in holiday let interior design, we can help you create a welcoming space for your future guests to stay and enjoy. From coastal apartments to country cottages, our expert designers will help you make the most of your space and attract guests throughout the year.

We specialise in creating amazing spaces that are designed for longevity. From luxury city apartments to stylish HMO’s, ambient eateries to contemporary offices, we can help you create a space that reflects your brand story and captivates your customers. Styled is proud to be part of the SDDE Smith Group, which offers a wide range of services from construction through to property management. As such, we believe we are perfectly placed within the market to partner with as we can offer you a full and comprehensive range of services.

Residential Services Here at Styled, we understand the effects your environment can have on your mood, productivity and creativity. For this reason, residential design is one of the most rewarding forms of interior design. From understated minimalism to opulent luxury, we can project manage your home renovation from start to finish so that you can enjoy the process with less of the stress.

What services does Styled offer?

Commercial & Hospitality Services

Our expert interior design team can offer a full package of services from spatial layouts, mood boards and 3D visualisations, to in-depth specifications for construction and installation services. Creativity is at the core of everything we do, and we pride ourselves on ensuring that each and every project we work on has the client and their needs at the forefront of the design.

Our key focus in this sector is delivering engaging and memorable environments, enhancing your customers’ experience and telling the story of your brand or company’s narrative. Within the commercial and hospitality industry, we work collaboratively with our trusted suppliers and contactors to ensure that every stage of your project is streamlined and executed efficiently.

Our designers will transform your project to reach its full potential, ensuring you get the best return for your investment.

Why not get in touch today to see how we can work together?

LANDLORD INVESTOR 66TH EDITION

Residential design is one of the most rewarding forms of interior design. From understated minimalism to opulent luxury, we can project manage your home renovation from start to finish.

www.styledinteriordesign.co.uk

L E T T I N G S S P O T L I G H T | H O S T & S TAY

DA L E S M I T H C E O , H O S T & S TAY

A passion for property

LANDLORD INVESTOR 66TH EDITION

L E T T I N G S S P O T L I G H T | H O S T & S TAY

Founder & CEO, Dale Smith, shares his passion for property and how Host & Stay can help unlock potential in your rental property.

Host & Stay is a short-stay and holiday let property management company born from a love and passion for property, and a desire to lead the change in an age-old industry. We use our best in class technology to manage thousands of bookings simultaneously, from holiday stays to corporate stays and everything in between We're here to help more homeowners unlock the earning potential in their properties. We list our properties on our own Host & Stay platform plus Airbnb, Booking.com, VRBO and 60+ other Global Booking Channels including access to exclusive platforms such as Marriott Homes & Villas, and Plum Guide. We handle the entire process for our homeowners; including marketing, revenue generation and pricing optimisation, 24/7 guest communication, housekeeping and maintenance. With better guest experiences through technology and lightning-fast response rates, we drive more revenue for our property owners, and with less hassle due to our completely hands-free service.

Many landlords are starting to switch from traditional long-term lettings to short-stay holiday and corporate lettings and they are now benefiting from improved financial returns. According to a report by letting agent professional body ARLA Propertymark last year, nearly 50,000 properties have been changed from long-term to short-term letting. Its research, which was carried out by Capital Economics, found that a further 10% of landlords were considering offering short-term lets in the future. Host & Stay is an industry leader, and our service ensures we are the ideal partner for those looking to enhance the performance of their assets professionally and responsibly. Our unique, flexible, and innovative approach to short stay and holiday let management along with the marketing of your property will ensure you reach a growing global audience. We know that our proven methods can increase your revenue, improve your guest satisfaction, and improve the profitability of your rental property.

The Short-Term Rental Landscape

We’re Looking for Business Partners

As the hospitality and property sectors continue to merge, we are seeing an increasing demand for the full management services offered through Host & Stay. Fuelled further by our flexibility, ease of use and the incremental returns we deliver for our property owners.

Interested in owning a short-stay property management company? We're also looking for Franchise & License Partners to join our Host & Stay Partners Programme.

LANDLORD INVESTOR 66TH EDITION

We handle the entire process for our homeowners; including marketing, revenue generation and pricing optimisation, 24/7 guest communication, housekeeping and maintenance.

For more details visit hostandstay.co.uk

E D U C AT I O N | P R E M I E R P R O P E R T Y

K A M D OV E D I FOUNDER OF THE PREMIER GROUP I N V E S TO R - D E V E LO P E R - A U T H O R - M E N TO R

Permitted development changes: opportunity knocks

LANDLORD INVESTOR 66TH EDITION

E D U C AT I O N | P R E M I E R P R O P E R T Y

One of the biggest opportunities that appeared in the UK property market was the permitted development and development changes. Here’s the thing, in 2022, the doors are closing in…

But right now you still have the opportunity to cash in. There are 4 Permitted Development rights that are quick wins that you can use to profit from development in 2022.

You still need to check the type of project carefully, and places such as conservation areas, or listed building may prove more challenging to convert.

But in this article, I’d like to share with you the 3 biggest mistakes that developers are making that are unfortunately stopping them from moving forward even though there is a huge opportunity right now in this space.

3) Incorrect area assessment

1) Overpaying for properties This may sound simple, but it’s actually not. People think that with the new changes, they will get a massively inflated GDV. Because of this they are willing to pay a lot more for the purchase price. By doing this, they inflate the prices of nearby properties which in turn creates a heated market. The key is to assess projects on the peripheries of these heated markets that stack up so you can practically implement permitted development changes and profit. 2) You don’t just convert anything The new rules have allowed the relaxation of what was previously a very stringent criteria, but the rules have not been relaxed for everything.

LANDLORD INVESTOR 66TH EDITION

When you are converting a property, you need to make sure that the floor plan allows you to maintain minimum space standards. For example, when stairs are moved, or added, it can dramatically change the amount of floor space. So you need to assess this correctly from the offset to ensure your project is meeting the required standards. What the Landlord Investment Show team do is great, they are helping to bring together landlords so that they can invest from an informed position. As a thank you, I would personally like to invite you to join us on one of our How You Can Get Started In PD, Commercial Property & Development In 2022 & Profit Online Workshops for FREE. If you would like to join us, you need to email pav@premierproperty.co.uk with subject: Landlord. We only run a handful of these a year. Good luck with your property investing and developing in 2022.

People think that with the new changes, they will get a massively inflated GDV. Because of this they are willing to pay a lot more for the purchase price.

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NEW YEAR NEW WEBSITE NEW RANGES

The home of pre-built compact kitchens. New for 2022 Wider sizes: 1600mm, 1700mm & 1800mm. New range of tops including the Designline, with a choice of three different laminates.

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Holiday Let Apartment

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