Michelle_B
Registered User
- Messages
- 14
That doesn't make any sense.More changes to the rules. How can any landlord keep up with it all?
You might as well say RTB there is the key, you put on who you like and if you are lucky your tenant pays the rent hand up 52% to the tax man. Makes absolutely no sense why anyone would rent out a property.
For (some) companies, yes. Not for sole traders. And if you put your rental income property into a company, you'll face a raft of hits, from double CGT on sale, to a 20% surcharge on income you receive.If it's a business, then this country allows for attractive tax rates for business.
The idea that rental income is passive and can be earned without significant work or planning is for the birds, as the opening post here testifies. It's not at all like sticking your capital into shares or into a deposit account. If you go in unprepared, you're at risk of losing your shirt.If it's an 'income', and taxed at income tax rates, then it should be largely passive since in this scenario it's your capital doing the work, not you.
Please do not rely too heavily on the HAP rates staying the same. At a stroke of a pen the government can drop HAP payments as well as increase taxes even more. It may not happen in the short while as there is a lack of supply but it can happen at any time.I wouldn't be as hyperbolic as sconeandjam about it - it's still worth it to me having bought a house in 2021 and earning 8% return through HAP, but I empathise with the sentiment. For a significant amount of money, it shouldn't be down to 'luck' whether you make a return on it - and make no mistake - it absolutely is luck with who you really get as tenants.
Given the hostility to the very idea of HAP politically (aka public money subsidising private rents, which ignores the fact that building a social house is also the taxpayer forking out, since most social home builds are now 100% dependent on capital funding from central govt, plus the minimal rent likely to be charged, and the strong odds that the tenant will go into arrears even then) it is probably a political soft target for the future.Please do not rely too heavily on the HAP rates staying the same. At a stroke of a pen the government can drop HAP payments as well as increase taxes even more. It may not happen in the short while as there is a lack of supply but it can happen at any time.
Before the 7th July you submitted a copy of notice after the move out date and not before.If you served your tenants their notice to terminate before the 6th July but are only sending the paperwork to RTB today, will there be a problem with the termination?
The one on RTB website the link is broken so on the citizens information site there is a template the tenant can use.What form are you supposed to use if the tenant gives the landlord notice and moves out?
Duration of a tenancy | Tenants notice periods |
Less than 6 months | 28-days |
6+ months, but less than 1 year | 35-days |
1+ year, but less than 2 years | 42-days |
2+ years but less than 4 years | 56-days |
4+ years but less than 8 years | 84-days |
8+ years | 112-days |
Tenancy would be still active on RTB database. If one tenant is replaced with another then the tenancy can continue. Name change must be competed on RTB site.But do they have to? If tenant tells landlord verbally, place is left clean etc., returns keys and so on, thats pretty much it isnt it?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?