Tag: lettings automated

PlanetRent – lettings are now just a click away!

Lesley Davis Leave a comment
planetrent logo

PlanetRent is our new automated lettings platform. It’s launching this week to save landlords and agents time, money, and hassle. PlanetRent automates and simplifies lettings by harvesting data and digitising all the key processes, making lettings quick and simple for everyone involved.

 Covid-19 has brought the traditional lettings process to a halt and we’re all having to find new ways of working remotely. So at Ringley, we have reacted fast to the lockdown, bringing forward the launch of PlanetRent, our cloud-based platform that helps landlords and agents cope with the social distancing measures introduced by the government in response to coronavirus.

PlanetRent connects agents, landlords, tenants, contractors, accountants and site staff, each through their own portal, so they can access the data they need, enabling them to carry out transactions from the comfort and safety of their home.

While coronavirus means the government has urged people not to move unless absolutely necessary, as social distancing measures are gradually lifted Ringley expects to see a surge in rental demand. We think households will want to avoid the expense and hassle of buying or selling a home and lenders are likely to tighten mortgage requirements in response to the economic uncertainty, giving renting renewed appeal.

Mary-Anne Bowring, group managing director at Ringley and creator of PlanetRent, says, “Coronavirus has undoubtedly caused huge disruption to the housing market but as the crisis fades we will still be left with the same problem of a rental market stuck in the analogue era when we are in the digital age”.

By automating key functions and replacing a host of existing subscriptions and manual processes, PlanetRent saves landlords and agents considerable time and expense. Read last Tuesday’s blog to check out the detail and find out how PlanetRent can take the hassle out of lettings in just a few clicks.

And if you’re a buy-to-let landlord, come back on Thursday when we’ll be looking at the ways PlanetRent will help support you and your tenants.

www.planetrent.co.uk

Why not READ our Property Blog too at www.ringleypropertyblog.co.uk

Could a tax tribunal ruling mean BTL investors avoid 3% stamp duty surcharge?

Lesley Davis Leave a comment

Buy-to-let investors could soon fill the HMRC with stamp duty surcharge refund requests. This is following on from a potential precedent set at a recent tax tribunal that saw a couple acquire a neglected building and were able to refute the additional 3% stamp duty charge on purchases of second homes.

It was revealed at the tribunal, held in Bristol, that potentially, buy to let investors could avoid paying the 3% stamp duty surcharge. This instance could cause many more landlords who have already paid the surcharge, to demand a refund from HMRC and suggests that many property purchases could fall short of the additional 3% surcharge and just consist of the standard rate stamp duty.

Paul and Nikki Bewley acquired their uninhabitable bungalow in Western-super-Mare and made the decision to bulldoze the original build in order to make way for a new property, thinking they would not accountable for the 3% charge for Taking on the additional property.

HMRC argued this view, believing that the 3% charge was applicable, as the property was capable of being used as a dwelling sometime in the future.

However, a recent tax tribunal ruled against the HMRC and in favour of Paul and Nikki Bewley, stating that they are only able to charge the 3% if the home is in an acceptable living condition right away.

HMRC has yet to decide on an appeal, stating: “We’re considering the judgment carefully.”

But, this ruling suggests that many buy-to-let landlords could be exempt from the 3% surcharge, when buying a property that is uninhabitable at the time they purchased it.

Commercial Trust Limited, a specialist buy-to-let broker, considers that this ruling could represent an opportunity for past claims from buy-to-let investors who have paid the additional 3% charge on properties that were uninhabitable at the time of purchase.