Key dates for Landlords in 2022
We believe that it’s imperative that Landlords stay up to date with legislations and regulations changes in order to keep their tenants safe, to stay compliant and to keep up to date with the latest news.
Tax Relief Credit Changes
The 31st of January is the deadline for online self assessment tax returns for the 2020 – 2021 tax year. It’s also the first one where the new mortgage tax relief credit applies and what this means for landlords is that they can now only offset 20% of their mortgage interest payment when filing their tax return.
Energy Price Cap Increase
In February 2022, the Government is expected to announce how much the energy price cap is likely to increase by – effective from 1st April 2022. Landlords should be mindful of the energy price increase, especially those with HMOs as this can have an effect on your profits.
Energy Efficiency Rules
The Government is due to roll out plans to improve energy efficiency in the private rented sector at some point this year. Landlords at the moment have until 2026 to ensure all newly let properties have a band C energy performance certificate and existing lets have until 2028 to meet the requirement.
Landlords should keep this in mind if their property is currently rated lower than band C and carry out the relevant refurbishments to increase the rating.
Eviction and Life Time Deposits
You probably remember back in 2019 that the Government was discussing abolishing Section 21, a clause that means landlords can end rolling tenancies with only two months’ notice without giving any reason.
Due to the on-going pandemic, a final decision is yet to be made however the Government says they are going to publish a white paper on the proposals at some point in the year.
Right to Rent Checks
Until April 5th 2022, temporary right to rent checks can still be carried out by video calls and tenants can send scanned documents or photos for checks and send them over email or mobile apps. This was introduced due to the pandemic but after the 5th of April, Right to Rent checks will be reverting back to how they were.
Rules on Allowing Pets
In January 2022, the Government launched a new Model Tenancy Agreement meaning landlords could no longer issue blanket bans on tenants having pets in England. Therefore, if any landlords don’t wish to have any pets in their properties, they will now have to object in writing if they receive a pet request and should only object to pets if there is a good reason.
If you have any further questions about any of the topics above, speak don’t hesitate to speak to a member of our team who will be more than happy to answer any questions that you may have.