Free Landlord Portfolio Review
Here at Charles Sinclair we aim to offer as much advice as possible to help you with your property investments. We have teamed up with financial and tax partners to help provide you with a personalised review to improve your efficiency and make sure your property investments are giving you maximum return. We have highlighted a number of areas below for you to consider. We would initially discuss the areas you wish to review over the phone and if you wish to discuss further , we can arrange to make an appointment for you. You can contact us now on 0207 622 1180.
Are your property inventories up to date?
Do you have time to visit your properties regularly?
We can provide quarterly updates on your property condition and advice you on making changes or improvements to maximise your property rental and capital values.
Are you looking to expand your portfolio?
We can offer you opportunities to expand your property portfolio and help you make decisions to compliment your current portfolio through investment partners and off market deals. Be part of our hot list so that as soon as a new property instruction is available you will be the first to know about it.
Are you looking to take out equity from your properties?
Are your properties on different mortgage rates?
Finding a best rate is essential, but this might not be the cheapest; it might just be the one that is right for your investment objectives. If your aim is for capital growth, get a mortgage that offers a higher loan-to-value so your property covers its costs but won’t necessarily provide much income beyond that. If you want to create income, you need a low mortgage rate to boost your income.
Regardless of what type of mortgage you’re after, the market as a whole is extremely competitive. Rates change every day and new products are released onto the market regularly, so it’s important
to remember, that even a tiny 0.1% difference in rate can save/cost you thousands over the mortgage period.
Using the services of an experienced buy-to-let mortgage broker/adviser can be invaluable in helping you through the nuances of different lenders conditions, especially the small print. Additionally, specialist buy-to-let mortgage brokers usually have access to mortgage deals you wouldn’t normally be able to get, so it’s always worth talking to one to find out what rates they can offer. Through our Independent Financial advisor partner, Let us take a look to see if we can help streamline or improve the mortgage rate you are currently receiving on your properties.
Many landlords don’t spend anywhere near enough time, or take enough expert advice about the tax implications of their property wealth. Some don’t think rental income is taxable at all;
Many don’t appreciate their property wealth is taxed in conjunction with their existing earnings and assets, so in some cases don’t realise rental income from investment can put them into a higher tax bracket.
What a lot of landlords don’t think through either is that tax rules change. If you invested in property 10 years ago, you would have expected to have sold your property today and via taper relief only paid 10 per cent capital gains tax.
However, capital gains tax has changed and now: over and above your allowance, you would pay two to three times this amount. A lower rate taxpayer today would pay 18 per cent and a higher rate taxpayer would pay 28 per cent.
Make sure you do what you can to mitigate the tax you pay. Typically, tax experts can help reduce your tax bill before changes to the system are made, but it’s much trickier to do this afterwards.
If you don’t know what tax you owe today on rental income and what you would owe if you sold your portfolio, now is a good time to check your position with a specialist property tax expert. We can put you in touch with one of our tax partners to get you started.
Health & Safety
Please make sure you are aware of your responsibilities and keep up to date with any legislation changes. Here is a quick overview:
- Ensure the property has a valid Gas Safety Certificate and that the boiler is serviced annually.
- Include a Carbon Monoxide Monitor for added peace of mind for the tenants.
- Ensure all doors/windows open, close and lock properly
- Ensure all soft furnishings comply with fire safety standard.
- Ensure smoke alarms are in working order.
- Check all electrical items (plug fitted) are PAT tested.
- Ensure there are no exposed electrical wires or broken plug sockets.
- Ensure any fitted units that come with the property are securely fitted to the walls.
- Look out for any obvious health hazards like ripped carpets, broken steps/paving or broken laminate/hardwood flooring. Basically, Check anything that can enforce a trip or fall.
- Check that all rooms are properly ventilated.
If your property requires an HMO licence (house in multiple occupation) then the additional requirements are met to meet this standard. For example Fire doors, Linked alarm system, fire extinguisher and fire blankets are just some of the requirements you must provide.
We can help you with your HMO application and even have experienced tradesman to help carry out the necessary works.
Management of your properties
Are you achieving the best possible rent for your property?
We work on commission, so our incentive is to negotiate the best rent for you.
Do you have void periods in your property?
We can feature your property on popular websites and with a high street presence and footfall are able to provide strong marketing campaign to reduce your empty/void periods.
Have you got a lot of outgoing costs from your property?
We can advise you on repairs and a maintenance schedule to ensure that your property holds its value. We can provide access to the most reliable tradesman as we can provide them with regular stream of work.
Are you having to field calls from your tenants night and day?
We can provide a buffer between you and tenants which can help avoid promises that later you may regret.
Have you regretted taking on a particular tenant?
We can take up comprehensive references to reduce the chances of finding a bad tenant. Even offer rent guarantees in case the tenant does not pay.
Are you looking to spend more time with family and /or friends?
We have been managing properties for over 40 years with many of our clients mortgage free and able to use the time they have saved to go and do whatever takes their fancy.
Schedule a FREE Appointment
For more information or to book a FREE Landords Property Review, Call 0207 622 1180
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Buy To Let
First Time Buyers