LANDLORD FORUM 2017 Sponsored by MSB Solicitors MSB Solicitors - PowerPoint PPT Presentation

LANDLORD FORUM 2017 Sponsored by MSB Solicitors

MSB Solicitors • Established 1988 ‐ 3 offices • Fixed fees for possession claims • Debt claims against tenants and guarantors • Dedicated conveyancing office • Plot sales/off plan team • www.msbsolicitors.co.uk • phillipcoburn@msbsolicitors.co.uk

s8 Notices • New notice as of 1.12.16 • Arising from Assured Tenancies and Agricultural Occupancies (Form)(England)(Amendment No 2) Regulations 2016 • New Ground 7B – Tenant occupying unlawfully on immigration grounds • Using old notice could result in strike out

s24 Finance (No 2) Act 2015 • Remove ability of landlords to deduct finance costs related to residential property from taxable income • Replace with tax reduction equivalent to basic rate of Income Tax • Landlords whose income exceeds upper threshold of basic rate will be taxed on significant portion of turnover

s24 Finance (No 2) Act 2015 • Landlords may look to increase rents of tenants to cover loss. • May lead to increase in tenants falling in to rent arrears or other debt • Increase in evictions and homelessness • May reduce number of affordable rentals • Pressure on Local Authorities to assist with rehousing

Pre ‐ Action Protocol on Debt Claims • Comes in to force 1.10.17 • Applies to any business claiming debt from individual or sole trader • Does not apply business to business (unless sole trader) • Letter of claim to include where debt arises from, date of any agreement, statement of account and Financial Statement form

Pre ‐ Action Protocol on Debt Claims • Letter of claim sent by post • Issue after 30 days if no reply • Allow reasonable period of time if debtor seeking advice • Proceedings should not commence less than 30 days from receipt of debtor’s reply or 30 days from any documents requested, whichever is later

Pre ‐ Action Protocol on Debt Claims • Try to reach agreement on instalments based on income and expenditure if debtor indicates they require time to pay • Use of Alternative Dispute Resolution encouraged – can be discussion and negotiation • Courts will expect compliance with protocol • Exercise caution in deciding whether to issue