London Residences
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Overseas Landlords

We offer a fully comprehensive management service for overseas Landlords with properties in London. They are inspected on a regular basis with updates on the condition of the property so it is kept to very high standards. We’re here to ensure everything runs smoothly and efficiently.

It is essential that each overseas Landlord who is abroad in excess of 6 months of any one year registers with the Inland Revenue Non Residents Landlord Scheme which will we do on your behalf - otherwise we are legally required to withhold 22% of the net income and to forward to the Inland Revenue on a quarterly basis. Under Taxation of Land (Non-Residents) Regulations 1995. Non-Resident Landlords are defined as persons (this term includes individuals, companies and trustees) who have a UK rental income and a ‘usual place of abode’ outside the UK. A person having a ‘usual place of abode’ outside the UK is generally considered to be an individual who is absent from the UK for 6 months or more.

Acting as your London agent, we (or the tenant if not managed by us) is obliged to deduct basic rate tax from all rental income received or paid (net of allowable deductions) and to pay this to HMRC on a quarterly basis. You will be issued with an annual certificate (NRL6) confirming the payments made to HMRC and it will then be your responsibility to liaise with HMRC to ensure that the amount of tax paid on the rental income is correct and that all deductible expenses to which you may be entitled have been taken into account. This legislation places the responsibility for collecting and paying this tax squarely with your agent or tenant, therefore in the absence of any further authority from HMRC this tax will be deducted.

  • Full Letting and Management Services
  • Investment Services
  • Asset Management Services
  • Snagging and Handover services for completion
  • Marketing your property on London’s top websites and in glossy magazines
  • HMRC NRL paperwork registration and tax advice
  • Collecting rent and arranging payments
  • Furnishing and Interior design services
  • Arranging payments of outgoings such as ground rent and service charge
  • Rental valuations, Lease renewals, and Rent reviews
  • Advising on deductions from the deposit and managing the check-out procedure
  • Electrical and gas installations and maintenance
  • Ensuring compliance with all safety regulations
  • General property maintenance and cleaning
  • Rental Guarantees
  • Full property inspections made every six months
  • Ensuring landlords are compliant with the regulations concerning Assured Shorthold Tenancies, Corporate contracts, and the Tenancy Deposit Scheme
  • Full Sale Services (both off plan and post completion)

 

For more detailed information on any of these areas, our Management team would be delighted to hear from you on +44 (0)20 7781 7781.

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