• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • Twitter
  • YouTube

Owner Login | Tenant Login | Get a quote: 323-255-9400 ext. 4

Los Angeles Property Management Group logo

Los Angeles Property Management Group

Property management in Los Angeles & the Valley, done right.

  • Residential
    • Services Provided
    • Single Family Residence
    • Luxury Property Management
    • Tenant Selection
    • Maintenance
    • Video Marketing Your Property
    • On-Site Managers
    • Agent Referral Program
  • Commercial
    • Services Provided
    • Maintenance
    • Agent Referral Program
  • Why Choose LAPMG
    • Mission Statement
    • Recent Reviews
    • Awards and Recognition
    • Why May 12th Matters
    • True Property Management Horror Stories
    • Video Resources
  • Articles
    • David Crown in Forbes
    • Q & A with CEO David Crown
    • Case Studies
    • FAQ
    • Featured Article of the Month
    • Featured Elsewhere
    • Industry Blog
  • Areas Served
    • Burbank
    • Culver City
    • Glendale
    • Hawthorne
    • Inglewood
    • Los Angeles
    • North Hollywood
    • Pasadena
    • San Fernando Valley
    • Santa Monica
    • Sherman Oaks
    • Studio City
    • West Hollywood
  • Contact
    • Our Team
    • Portal Logins
    • Prospective Tenants
    • Employee of the Month
    • Careers
    • Privacy Policy

Top 4 Things That Landlords Need to Consider for 2022

November 16, 2021

Things That Landlords Need to Consider for 2022

Top 4 Things That Landlords Need to Consider for 2022

During the upsurge of the COVID-19 pandemic, landlords were quite uncertain about what the future holds for the eviction process and how Brexit and this new problem will affect property investment. This also means that 2022 may be a very tricky year for the real estate industry, on the whole, especially rental properties.

Still, we’re going to do our best to introduce you to some of the top considerations for landlords who are planning on making the most of 2022:

1.   Eviction Rules For COVID-19

Some temporary rules introduced amidst the COVID-19 pandemic meant that landlords had the power to not hand out long notice periods whenever they were starting eviction proceedings for tenants.

For instance, in Wales and England, landlords were required to provide six months’ notice except in circumstances where extreme actions were required. This included when tenants may have displayed some anti-social behavior, fallen behind on a minimum of six months in outstanding rents, or committed fraud. This rule was set in motion on 31st March 2021.

2.   Possibility of Ending Section 21

In the last few months of 2019, the government had begun discussing the abolition of Section 21, which is a clause that allows property owners to end any ‘rolling’ tenancies with a notice of just two months and also without providing them with a genuine reason. Just a year later, Section 21 was still in place, and the Renters’ Reform Bill was delayed until after the pandemic finally subsided.

It is quite possible that we may be able to witness some news for this bill anytime soon, which is why all property owners should keep a lookout. Some other proposals featured in this bill include the replacement of security deposits along with a ‘lifetime’ deposit that moves everywhere with a tenant.

3.   Stopping Mortgage Payment Holidays

If you find yourself struggling to keep up with your mortgages, or perhaps your tenants may be having problems making their rent on time, then you can always apply for a payment holiday for your mortgages until 21st March 2022.

The rules for these mortgage payments are as follows:

  • If you have taken payment holidays since before the pandemic, you will be able to apply for a deferral for up to 6 months in total.
  • If you have your first deferral in place right now or have resumed some of your payments after a deferral, then you can always apply for one more with a limit of 6-months.
  • If you have already accounted for six months of deferrals, you will not be eligible for any further payments holidays. You will also have to ask for alternative support from any of your lenders.

4.   No Stamp Duty Holidays

Landlords in Northern Ireland, Scotland, and England now have the benefit from the stamp duty cut rules introduced for investment in rental properties, and this came into effect after 31st March 2021. Landlords will still be liable to pay a surcharge of 3%, even though this will be on some temporarily low stamp duty rates.

Final Thoughts

Hopefully, the discussion above will help you define and refine your budget for the coming year and make it more profitable.

If you’re looking forward to apply the above for your rental property, you can always delegate the tasks to your property manager or hire the right professionals to take plan out the budget for you. This will leave you with more time to figure out how to serve potential tenants better, offering more affordability, more personalization, and authenticity as opposed to worrying about your safety.

If you haven’t hired a property manager already, click here to learn more about our services and how an experienced property manager can share some of your burdens.

Filed Under: LA Property Management News, Property Management Education, Residential Properties Tagged With: landlord advice, Los Angeles property management, San Fernando Valley property management

Primary Sidebar

    PROPERTY OWNERS: CONTACT US FOR A FAST FREE QUOTE

    (This space is not for tenant contact)








    Loading...

    Footer

    Award-winning management means:

    Best property management in Los Angeles - Our Awards

    • Maximum profits.
    • Responsive service.
    • Vacancies filled quickly.
    • Accurate understandable monthly reports.

    Proud Members of:

    AAGLA AOACA AIR Commercial Real Estate Association Member BOMA 2022 Member of Forbes Real Estate Council

    Contact Information

    
    

    YouTube LAPMG   Facebook LAPMG   Twitter LAPMG

    Los Angeles Property Management Group
    10960 Ventura Boulevard Second Floor
    Los Angeles, CA 91604
    Phone: 323-255-9400
    Contact Us

    Los Angeles Property Management Group is registered with the California Bureau of Real Estate License #01931033.
    Kyle Crown License #01936385
    David Crown License #01157354

    © 2023 Los Angeles Property Management Group · Privacy Policy
    10960 Ventura Boulevard Second Floor, Los Angeles, CA 91604 · Phone: (323) 255-9400
    LAPMG is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone and applying the relevant accessibility standards. If you have any issues, please contact dcrown@lapmg.com.