Landlord Workshop with Prospect Estate Agency

Get the most out of your rental property

The residential lettings market is a dynamic and diverse sector. In any economy it’s important for landlords, in fact anyone involved or interested in the lettings division, to keep on top of trends of the market.

The past 12 months have seen a number of legislation changes and many changes to tax and mortgage rates have been put into place too, making it more important than ever to be on top of everything happening in the Lettings market. That’s why we decided to host a Landlord Workshop back in January and answer any questions and ease any worries our Landlords may have.

Our fully booked Landlord Workshop was hugely successful and gave our attendees the chance to really hash out any worries they may have about recent changes, whilst also giving them an industry insight into the local lettings market.

Taking place in our striking Head Office based in Reading, our Landlords that attended benefited from:

• Overview of the current market conditions
• Advise on tax and how to make an investment property more tax efficient
• Update on legislative changes
• Networking opportunities
• Troubleshooting and problem-solving
• Further access to resources and support

The feedback from the attendees of our first Landlord Workshop was outstanding. With many calling it an invaluable investment of time and a great way to stay informed, connected, and up-to-date with the latest developments in the private rental sector.

Mr R Gill commented, “Great concept and really good value added by Prospect, not many (or any?) agents I know are doing something proactive like this. Especially in the current climate where a lot of investors may be spooked by market conditions, anything like this will be well received. Good presentation, market analysis and speakers were good and relevant.”

The hottest topic of the Workshop was undoubtedly around tax and the vehicles we use to buy and hold investment properties.

David White of Charter House Accounting explained the key differences between holding a buy-to-let property in a personal name versus a company and what, as a Landlord, is the best option in today’s economy. Here’s a quick summary of the two main key benefits of holding your properties within a company:

• Tax efficiency: This is one of the primary benefits of holding your property within a company because rental income earned by a company is subject to corporation tax, which is currently lower than the income tax rate for individuals. Additionally, companies can claim a wider range of tax-deductible expenses, including mortgage interest and property maintenance costs, which can reduce the tax liability.
• Estate planning: Holding a buy-to-let property in a company can also offer more flexibility for estate planning purposes. Shares in the company can be easily transferred to beneficiaries, allowing for more control over inheritance tax liabilities.

Following David’s insightful presentation, Gerardo Gesparro of Perpetual IFA then talked us through the impacts of the mini budget, change in Prime Minister and the best rates currently available. Another invaluable insight.

Due to a number of factors, including economic conditions, government policies and even cultural changes, the residential lettings market can fluctuate. It’s aways important to keep your finger on the pulse, that’s why our first Landlord Workshop certainly won’t be the last.

In fact, we’re already planning another Landlord Workshop in the near future. Spaces are limited so if you’re interested in joining us and being in the know, register your interest by filling out the form below.