Rates Question

shaz77_2

I have just purchased a house that I plan to rent out, the proposed tenant has offered to pay the rates, how do I find out how much they are, would the town hall have this information?

yorkshire_lass_3

First you need to put in the address (House No & Post code) of the property on this website

http://lpsni.gov.uk/vListDCV/search.asp?submit=form

This will give you the 'Capital Value Non-Exempt'

Then go to this site and enter the value as above and click on the area where the property is. See the box on the right hand side.

http://www.lpsni.gov.uk/index.htm

Hope that helps.

Old_Git

shaz77 wrote: »

I have just purchased a house that I plan to rent out, the proposed tenant has offered to pay the rates, how do I find out how much they are, would the town hall have this information?

You can find out your rate liability from the local rates office .
Rent in Northern Ireland usually includes rates .The advantage off this is
A- you know for certain they are paid
B- you get a 7.5% discount for being a landlord and collecting the rates .
Landlords generally pay there rates in September
.http://www.lpsni.gov.uk/index/property_rating/landlords-2.htm

KiwiCoop

Are there any disadvantages to qualifying as a landlord with the LPS for the 7.5% discount? i.e. could you get in trouble if you don't have an EPC, a perfectly worded tenancy agreement, deposit in a tenancy deposit scheme etc?

Old_Git

KiwiCoop wrote: »

Are there any disadvantages to qualifying as a landlord with the LPS for the 7.5% discount? i.e. could you get in trouble if you don't have an EPC, a perfectly worded tenancy agreement, deposit in a tenancy deposit scheme etc?

you need an EPC to rent a property out regardless off rates unless you already have a sitting tenant .Rates office have never asked me for a copy off tenancy agreement .Deposit scheme does not apply to Northern Ireland .
The only disadvantage at the moment is you have to pay the rates even if the property is empty .This wont really make any difference as at some stage soon you will have to pay rates on empty propertys this is to encourage LL to reduce rents and not keep propertys empty .

wifeforlife

Based on your capital value, current rates legislation can mean the bill remains solely in your name and you will be liable

If the captial value is under 150k you are liable with bills being issued to your home address, if it's more than 150k then it can be based on your tenancy agreement.

I'd suggest if it's a long term rent (a year or over) take the 15%, payable in September and it can be changed at the change of rates year(1stApril every year) if they move out! Take the discount!