wear and tear

wear and tear

What to consider when calculating “fair wear and tear”?

14 June, 20160 Comments
For a long time, fair wear and tear has been a grey area for landlords and letting agents alike; this is because it tends to vary from case to case, due to factors such as what the condition the property was in before the tenancy began, and the expectations regarding the level of normal usage
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Landlords advised not to replace furniture until April

23 February, 20161 Comments
According to accountants Blick Rothenberg LLP; Landlords should wait to replace any furniture in rental properties until 6th April 2016 which is when the 10% wear and tear allowance is being replaced and costs become deductible under a new tax relief. Robert Pullen, personal tax manager at Blick Rothenberg, commented on this statement: “From April
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Wear & tear allowance removal

13 August, 20150 Comments
The NLA has reported on new findings which show that at 47% almost half of landlords will be affected by the removal of the annual wear and tear allowance. The research has found that 24% of landlords let their properties fully furnished, 22% let a mixture of both furnished and unfurnished properties and just over
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Top Tips for Minimising Void Periods

24 July, 20130 Comments
Void periods can be a landlord’s worst nightmare, most landlords rely on the income a property generates to pay its mortgage and whilst the property is empty as the owner you will also be liable for council tax and any bills that the property incurs. At present the average void period in the UK is
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Landlords TV exposure results in malicious property damage & theft

03 July, 20130 Comments
A landlord who featured in an item about rent-arrears on the BBC’s The One Show has been subjected to more problems; whereby the tenants not only stole all of the furniture but also left the property completely uninhabitable. Broadcast on 2nd May, Mrs Trivedy was featured on the BBC show in an item about rent-arrears
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