Busting some Serviced Accommodation Myths!

[@Kilex6522]

Hi Kev, Great video. What agreements are required for: • Between the Landlord and SA Management? • Between the SA Management and the Investor? • Between the landlord and the Investor?

[@hb3074]

hi Kevin, great vid!Are you still doing the free online training on how to properly set it up correctly? :)

[@kevinponeskispropertysoldi6316]

I do live training on that now. I can still get you in for free though. Let me know and I will send you some links. Where do you live?

[@martinzbodak4255]

Kevin, great content! I am running FHL on my ex council freehold house. Should I be worried to switch to business rates, when my covenant state: "not to use or allow or caused the property to be used for any purpose other than that of the private dwellinghouse and not to carry on any trade or business whatsoever from or at the property" ?

[@kevinponeskispropertysoldi6316]

That description in the covenant is in my opinion open to interpretation on whether you can do FHL/short term rental or not. For instance if a family stay for a month because they had a fire at their home they will be using your property as a private dwelling. BTL is also a business activity in my opinion. The business rates scenario is not connected. The VOA won’t be asking to see your covenant and so not a factor for them.

[@thepropertygurus4474]

Excellent Marathon guidance Kevin. I watched 3 times but still confused whether renting 3 rooms in my Primary residence on short term let (holiday guests) needs change of Use ? If I understand you correctly, it should not be HMO but would it be still C3 ? or need change of use to C1 even i live there as well ? . (property is 5 bed house in Swansea and i live alone since my children moved out). cheers

[@kevinponeskispropertysoldi6316]

If you live there then letting out a couple of rooms on short term rental wont be a problem. But when you start letting out 3 then you are more like a guest house and you would need planning permission and adhere to stricter fire protection measures

[@proteusminor]

Do I need to vary payments to property owner if they own it in their own name so that they can get out of the Sect24 rule ?

[@kevinponeskispropertysoldi6316]

If direct to owner yes do some for of profit share so that the income fluctuates monthly otherwise it won’t look like FHL income on the owners tax return.

[@mirzataimurii]

Do you offer mentoring?

[@kevinponeskispropertysoldi6316]

Hi I do a Serviced Accommodation Discovery Days. I offer mentorship but only once people have attended my training. I only discuss what mentoring package I offer at the training and I only mentor people who I have trained as that makes it easier for both of us and cheaper for you👍 Let me know if you would like to attend the discovery day for free?

[@michellemagoronga7472]

Hi Kevin could you please explain how to set up the SA correctly right from the start in terms of VAT registration, should you register the business with VAT? Very confusing for me, I heard stories where people Blum it their profits just as it reaches 85k or something like that. How do we avoid that cap?

[@kevinponeskispropertysoldi6316]

Only register when you are going to go over the vat threshold. There are 3 schemes: flat rate Standard TOMS this is for rent to SA. I can get you on to some online training for free if you would like? Let me know👍

[@Kilex6522]

​@@kevinponeskispropertysoldi6316I'd be up for that.

[@proteusminor]

Can you claim CA’s on a leasehold property that I buy ?

[@kevinponeskispropertysoldi6316]

Yes you can claim CAs on a long lease.

[@radugolici-northamptonproperty]

When you do a Rent 2 SA do you need to ask the landlord if they need to change their mortgage for holiday lets?

[@kevinponeskispropertysoldi6316]

Sorry didn’t see this question. Yes they should get consent to let as a short term rental👍

[@GalliWayno]

Hi, where can I connect with you? I'd like some online training please, I already have 2 holiday lets but want to get into the corporate side of SA. Thanks

[@kevinponeskispropertysoldi6316]

bit.ly/sa_discovery I offer online training but only to the people I work with. I have included a link