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Press Release

City Sales & Lettings Liverpool and today confirm they will be advising their landlords to increase their rents with immediate effect due to the ban on Lettings agents fees by the current Chancellor and the restriction on mortgage interest relief by the former chancellor increasing the running the cost of a property business so substantially that no do so would materially impair their ability to make a return on their expense.

There are now 180 pieces of legislation an owner of a property business has to comply with and here are just a few;

Citywide Selective Licensing

Right to rent checks

How to rent disclosure 

Gas safety 

EPC 

Smoke detectors

Deposits

Serving prescribed information to tenant 

Credit checks

Employment checks

Drafting leases 

HHSRS2004

PAT TESTING

LEGIONNAIRE TESTING

Director of City Sales & Lettings John Bullock said, "Agents & property owners are being hit with more and more compliance which costs money at a time our fee earning potential is being removed. And of course interest paid to serve mortgages is being treated as income from April 2017 and these political decisions will impact tenants and landlords harshly whilst failing to improve the quantity and quality of housing in the U.K. Today I am advising all landlords to increase their rents to cover their costs".

 

FREE CONSULTATION - Property remains a good return on investment when compared to other forms of investment such as savings accounts and shares it just means we have to be a bit more savvy as to the way we go about it.

I am an accountant, an investor and agent and I am ideally experienced as a professional to provide sound business advice when it comes to mitigating your tax position or setting up new business structures in a tax efficient way; if you require such a FREE CONSULTATION please email me direct on john@cityletsliverpool.com and I will arrange a one to one meeting to discuss your affairs.

 

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