Dates play an important part in a landlord's life. To help you run your property investment businesses efficiently, here is a list of the key dates that a landlord should keep in their diary.
Your tax return for 2008/2009 must be filed with HM Revenue & Customs (HMRC) by 31 January 2010. If you're sending them a paper copy, the deadline is 31 October 2009. If you miss the deadline, you could be faced with a fine of £100.
Dates for serving notice
Every so often landlords need to serve notice on a tenant to gain possession of their investment property once the tenancy has come to an end. If you need to do this, you must serve a Section 21 Notice on the tenant, but you must get your dates right for the Section 21 Notice to be legally upheld.
Find out in what circumstances you can serve a Section 21 Notice here.
In a tenancy agreement the term 'month' refers to the calendar month. Tenancy agreements run from a day in one month to the date before in another month. For example, if your tenant has signed a tenancy agreement on 7 March, the tenancy will end on 6 September, after which, you, as the landlord, can seek possession of your investment property.
Serving the Section 21 Notice
For a fixed term tenancy, you cannot set a date for repossession of the property which is earlier than the expiry date of the fixed term.
Get your Section 21 fixed-term Notice here.
If it was a periodic tenancy or the fixed term has ended before you have given the tenant a Section 21 Notice, then you must specify a date which is the last day of the rental period. For example, say it's a monthly tenancy and the rental day is the 20th of each month, the date specified must be the 19th of a subsequent month at least two months after the date of service.
Get your Section 21 periodic Notice here.
The introduction date for EPCs
From 1 October 2008, every landlord must have an Energy Performance Certificate when they rent out, or sell, their investment property.
Find out more about Energy Performance Certificates here.
The expiry date of the good rate on your mortgage
If you have opted for a fixed-term mortgage, you must remember the date when your buy-to-let mortgage will be automatically switched to a standard variable rate.
In the current economic climate, it's advisable that you get a new buy-to-let mortgage in place before your good mortgage rates expire.
Get help with managing your property finances and mortgage data here.
Published on: June 2, 2008