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Lilian Davis Group Landlord Partnerships

Lilian Davis Group LTD values its partnerships with landlords and is committed to maintaining transparent and mutually beneficial relationships.

Here are the key responsibilities you, as a landlord, will have when renting your property:

Legal and Safety Obligations

1

Property Safety & 

Health Hazards

You must ensure your rented properties are safe and free from health hazards. This includes the safety of all gas and electrical equipment.​

2

Fire Safety

Fit and test smoke alarms and carbon monoxide alarms, and comply with fire safety regulations.

3

Health and Safety Inspections

Your property may be subject to inspections under the Housing Health and Safety Rating System (HHSRS) to check for potential hazards like uneven stairs.

4

Energy Performance Certificates (EPCs)

Provide an EPC for the property, which is a measure of its energy efficiency. In England and Wales, properties need to have an EPC rating of ‘E’ and above, which is set to increase to C or above from 2025 for new tenancies​​​​​​.

Financial Responsibilities

1

Income Tax and National Insurance

  • Pay Income Tax on your rental income, minus day-to-day running expenses. Class 2 National Insurance might also apply if renting out property is considered running a business.

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2

Mortgage Permissions

If your property is mortgaged, ensure to get permission from your mortgage lender for renting it out​​​​.

Tenant Relations and Deposit Protection

1

Fair Treatment of Tenants

Act in a fair, honest, and reasonable manner with all tenants at all times, as stipulated by the National Landlords Association (NLA) Code of Practice.​

2

Tenant Deposits

Protect your tenant’s deposit in a government-approved scheme and return it timely at the end of the tenancy, provided all conditions are met.​

3

Right to Rent Checks

In England, verify that your tenants have the legal right to rent in the UK.​​.​

Property Maintenance and Repairs

1

Regular Maintenance

Ensure the property is well-maintained, habitable, and secure, addressing any health hazards such as damp, mold, or uneven stairs.

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2

Repairs

Promptly carry out necessary repairs and ensure gas, electricity, and fire safety measures are up to standard​​.​

Partnering with us.

As a landlord partnering with Lilian Davis Group LTD, you will receive market rents for your premises, guaranteed refurbishment at the end of tenancy (excluding wear and tear on kitchen and bathroom), while being responsible for building insurance, landlord insurance, homecare cover, and utilities like gas and electricity.

We value the crucial role our landlords play in supporting our mission and are committed to fostering positive, long-lasting relationships. For more information on partnering with us, please contact our team.

As part of our partnership with landlords, Lilian Davis Group LTD ensures compliance with the latest regulations. Below are the key responsibilities under the new rules effective from 1 April 2023:

Legal & Safety Obligations

Tenancy Information Notice

Notice of Variation

Cash Receipts

  • Provide tenants with a tenancy information notice within 28 days of the tenancy start, detailing landlord contact details, rent, rates, and tenancy length. Failing to do so can result in fines​​.​

  • Notify tenants of any changes to the tenancy within 28 days. Failure to comply can lead to fines​​.

  • Provide written receipts for cash payments, detailing the payment date, amount, and balance. Receipts must be provided without charge​​.

Financial Responsibilities

Limits on Tenancy Deposit Amounts

  • Deposit amounts cannot exceed one month’s rent. Non-compliance can lead to fines​​.

Deposit Protection Time Frames

  • Protect tenancy deposits within 28 days and provide related information within 35 days. Failure to protect a deposit can lead to prosecution​​.

Additional Responsibilities

  • Maintain the property's safety and habitability.

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  • Comply with fire safety regulations.

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  • Provide an Energy Performance Certificate (EPC).

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  • Ensure tax obligations are met, including income tax on rental income.

Lilian Davis Group LTD values our landlords’ commitment to upholding these standards, ensuring a safe and compliant environment for our tenants. For more information on these responsibilities and our partnership opportunities, please contact us.

TAXATION

The new buy-to-let taxation rules in the UK, particularly the changes to mortgage interest tax relief, affect standard rate and higher rate taxpayers differently. Here's a simplified example for each:

Standard Rate Taxpayer (20% Tax Bracket)

Before

Landlords could deduct mortgage interest from rental income before calculating tax, reducing taxable income.

After

They receive a tax credit based on 20% of their mortgage interest payments. This results in less tax relief compared to the previous system, but as a standard rate taxpayer, the impact is less severe than for higher rate taxpayers.

Higher Rate Taxpayer (40% Tax Bracket)

Before

Could deduct mortgage interest from rental income, effectively getting tax relief at their higher tax rate (40%).

After

They also receive a tax credit based on 20% of their mortgage interest payments. This means a significant reduction in tax relief, as they no longer receive relief at their higher tax rate. The impact is more pronounced for higher rate taxpayers, potentially making buy-to-let investments less financially attractive.

In both cases, the shift from deducting mortgage interest to receiving a tax credit at a flat rate of 20% results in higher effective taxation, especially for higher rate taxpayers. These changes were phased in from April 2017 and fully implemented by April 2020.

If you’d like more information about our features, get in touch today.

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