Several persons listed as landlords on AST agreement?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Several persons listed as landlords on AST agreement?

    Hello,

    I have just been asked a question by an acquaintance and not knowing the answer I put it before the community's wisdom:
    Is it possible on a tenancy agreement (AST in this case) to have several persons listed as landlords? (e.g., if property is jointly-owned) Or should only one of the owners be the landlord? What would be the rental income's tax implications?

    Thanks.

    #2
    Originally posted by jjlandlord View Post
    Is it possible on a tenancy agreement (AST in this case) to have several persons listed as landlords? (e.g., if property is jointly-owned) Or should only one of the owners be the landlord? What would be the rental income's tax implications?
    On the contrary, if the property is jointly owned then all owners should be named as landlords.

    Income tax is payable by the owners of the property, not those named as landlords. (Tax can be apportioned to the different owners according to the relative proportions by which they own the property, which may or may not be in equal shares).

    Hope that answers your question but if not it may help to indicate what angle you're coming from on this.

    Comment


      #3
      Thanks Eric.
      Exactly what I was after: Basically it's a couple jointly owning a property which they wish to rent. So mostly the issue is whether it is possible/necessary to have them both as landlords.

      Comment


        #4
        Originally posted by jjlandlord View Post
        Thanks Eric.
        Exactly what I was after: Basically it's a couple jointly owning a property which they wish to rent. So mostly the issue is whether it is possible/necessary to have them both as landlords.
        I agree with Eric. My husband and I own jointly and have both our names on the contracts and each pay tax on half the rental income.

        It may of course be the case that only one, or neither LL, actually manages the property personally.
        'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

        Comment

        Latest Activity

        Collapse

        • Reply to Flat rental bathroom query
          by Landyman
          Are you saying that the toilet and basin are out in the open, adjacent to the kitchen? Or are they in a separate room?

          Does the room have a window? Or a fan ventilator?

          It's had to visualise exactly what you mean. Could you sketch a simple floorplan and upload that here p...
          16-01-2022, 23:47 PM
        • Flat rental bathroom query
          by NewGuyOne
          Hello,

          A rented flat with a toilet (of course) and basin next to the kitchen, and a bedroom with a quite small en suite - shower/basin/rail for towel ... Is this acceptable in a flat - with no additional separate bathroom?

          Flat consists of 1 bedroom en suite, hallway, lounge,...
          16-01-2022, 20:13 PM
        • Reply to Problems with tenant getting work done and not paying me rent
          by axil23
          Thank you Lawcruncher.

          Just so I am not reading the lease wrong. Executed as a deed means that it has to say that and be witnessed by a 3rd party right?...
          16-01-2022, 23:23 PM
        • Problems with tenant getting work done and not paying me rent
          by axil23
          I have rented my house to a {name removed} who use it to house Asylum seekers from a govt contract. In June the flat roof developed a leak and they asked me to fix it which I did the next day. 6 months later I get a bill for £1900 for scaffolding, asbestos survey, party wall agreement & for some...
          13-01-2022, 12:05 PM
        • surrender of lease charges
          by jshire
          Hi,
          I'm trying to assist a family member who is in the process of surrendering a lease on a shared flat (all tenants moving out). The landlord agreed as the reasons were reasonable. He's sent an email stating that there will be costs that the tenants have to meet, charged by the letting agent...
          16-01-2022, 20:49 PM
        • Reply to Gas certificate fail
          by MdeB
          But if you had a valid certificate when the tenancy started but failed to give it to the tenant, then I believe that providing them with a current certificate before serving S21 will be OK....
          16-01-2022, 20:30 PM
        • Gas certificate fail
          by ReginaPhalangi
          We've been renting out our property since 2017 and now have given notice to our tenants to leave. However we have just realised that we have failed to get a gas certificate during their tenancy. Is it possible to get the gas certificate now? Would we need to give notice again after we issue the gas...
          15-01-2022, 20:05 PM
        • Reply to No Tenancy agreement
          by MdeB
          There are a number (of the order of 20) of grounds under which possession can be sought. See the Housing Act 1988.



          The claim is for the period for which they were paying rent whilst there was no required licence in place, up to a maximum of 12 months. Getting a licence ends...
          16-01-2022, 19:32 PM
        • Reply to No Tenancy agreement
          by MdeB
          That depends on when the tenancy started.


          Or, possibly, the one in place when it is given to the tenant. The regulations are ambiguous...
          16-01-2022, 19:18 PM
        • Reply to Wales: New Legislation – your roles and responsibilities
          by steaming
          4. Antisocial behaviour…..a fair and consistent approach to everyone. No. 4 is then not mentioned in the extended information (click link). Surely this needs explaining in detail or, maybe, they haven’t actually thought further that the nine words used. No surprise.
          16-01-2022, 19:17 PM
        Working...
        X