lucam trade

Why sell and advertise through Property Management: lucamtrade.com?

Property being presented to core target audience
Advertise your Property to over 100,000 amateur and professional landlords
Advertise one property or your entire portfolio
Edit your advert on line 24 hours a day
Update your photograph whenever you wish
Immediate and continual marketing of your property through web
Property Management boards
For sale boards which say exactly what you are selling
Carefully branded corporate identity to get the attention your property needs
Direct negotiation with your buyer via telephone or email
View offers through your personal website account
No loss of income whilst your property is for sale
Faster sale transaction with investors having no chain

Save on Estate Agent Fees Just £199 for advert to remain on site for as long as it takes to sell
How much could you save?
Example based on a Property Sale price of £200,000
Selling Cost through Estate Agent
Agents Commission

£200,000 x 2%

VAT on commission

TOTAL COST OF ESTATE AGENT £4,000.00

£700.00

£4,700.00
Selling Cost through Property Management: lucamtrade.com
Fixed Fee Standard

Package

TOTAL COST OF Propert Management: lucamtrade.com £199.00

£199.00
YOU SAVE
£4,501.00

Advertising boards
Create maximum selling opportunities with your own eye catching Property Management advertising board.

·         Not just dependent on website traffic

·         Enjoy local advertising traffic

·         Board says exactly what you are selling without distraction from other corporate branding and logos

Q1: Is  Property Management:lucamtrade.com an online Estate Agent?

A: No. Lucam Trade is a web site that provides information on all aspects of buy-to-let including listings of property which have been uploaded by investors themselves, estate agents or other agents on their behalf.

Q2: Advertising Costs – How much is it to advertise a buy-to-let property on Lucam Trade?

A: As a private vendor of a buy to let property you may advertise your property on the web site for just £199+VAT. For private sellers this includes a professionally produced buy-to-let board which can be used at the property during the sale period. This will feature your chosen telephone number so that other interested parties can contact you directly to arrange viewings. This gives you both website and local advertising. The advertisement will remain on the site until you delete it. Undeleted adverts will be automatically removed after 200 days. You will be given notice ahead of this event by e-mail and given the opportunity to update your advert which will cause it to remain 'live' for up to a further 200 days. Currently you may include up to five colour photographs of your property.

You may prefer your Estate Agent to place an advertisement on this website on your behalf. This will extend the exposure of your property to an audience that's particularly interested in buy-to-let property whilst they deal with all the enquiries. Instruct your Estate Agent to contact LUCAM TRADE to find out about our advantageous rates for those wishing to promote multiple properties to a targeted audience interested in investment Properties.

Q3: Can I advertise my property on Lucam Trade as well as with an Estate Agent?

A: Providing you are on a sole agency agreement with your selling agent this should not be a problem but you should certainly check the agreement that you have signed. Either way, it is courteous to let your agent know that you are intending to advertise on the buy-to-let-4-sale website.

Q4: My Lucam Trade buy-to-let-4-sale board hasn’t arrived?

A: The buy-to-let-4-sale advertising boards are sent to you directly from our suppliers. They will be dispatched on an overnight courier service which will require your signature on delivery. Please allow 7-10 days for delivery. If you are not in when the delivery arrives, a card will be posted through the door giving instructions on where you can collect it from.

Q5: Advertising Property – Why should I advertise a buy-to-let property on Lucam Trade?

A: Visitors to the Lucam Trade web site tend to have a particular interest in investment property - there's nothing like advertising to a targetted ‘niche’ audience

Q6: Advertising Property – When will my buy to let property advertisement go live?

A: If you are paying for your advert using the on-line payment system, as soon as you press the "Submit" button on the advertising input page, your advertisement is live on Lucam Trade. If you are opting to pay for your advertisement by cheque, your advert will be held in a ‘hold for payment’ system until we have received and cleared your cheque.

Q7: Can I advertise any property on Lucam Trade?

A: No. Lucam Trade is purely focused on residential and commercial investment property with or without tenants already in place.

Q8: Enquiries – How will people contact me about a property I am advertising?

A: Most people will contact you directly by telephone or email if you are selling privately. Alternatively, if it is your selling agent who has uploaded the details of your property on lucamtrade.com, interested parties will contact them directly.

Q9: Enquiries – What should I do when someone contacts me about my buy to let property?

A: Reply with further details about your buy to let property, ideally by email and ask them if they have any further questions. Remember, if you are selling privately you are the point of contact with the potential homebuyer. However, there is an option for interested parties to post an ‘offer’ for the property into the sellers lucam trade website account allowing sellers to monitor the offers they have received on the property.  lucam trade does not get involved in the stage of the buying/selling process.

Q10: Sale Price Agreed – What should I do when I have agreed a sale price for the property?

A: Both parties will need to find a solicitor to act on their behalves and the buyer should make arrangements to find a buy to let mortgage. Follow the step by step guide in the How to Buy-To-Let and this will take you through the process.

Q11: Enquiries – If I receive enquiries from people overseas, should I reply?

A: Yes. Investors looking for investment property in the UK and overseas frequently use the Internet as a means of doing this.   That is why as a seller it is so important to include as much information about your buy to let property as possible.

Q12: Property of the Month – How can I enter my buy to let property as a candidate for "Property of the Month"?

A: If you would like your property to appear as Hot Property of the Week on the home page then please contact us.

Q13: Linking – Can I put lucam trade in a frame on my web site?

A: This is subject to negotiation as we have tried to offer exclusive link ups with our existing link partners. Please contact lucamtrade.com

Q14: Old Advertisements – Some buy-to-let property advertisements have not been updated for months. Why?

A: Estate agents and private individuals are responsible for updating their own buy-to-let property advertisements on lucamtrade. Some update very often while others don’t. If you feel that an advertised property is sold, email the advertiser direct or contact lucamtrade and we will contact the advertiser.

Q15: Password - I’ve forgotten my password and cannot edit my buy to let property details.

A: Firstly, click the "Edit Adverts" button to reach the "Sign up as a buy-to-let-4-sale User" page. Then click the "Forgot Your Password?" button to reach the "Email password to lucamtrade Registered User" page. Enter your username and click the "E-mail my Password to me" button. This will cause an e-mail containing the password to be sent to the e-mail address related to the username.

Q16: Photographs - Can I have two photos of my property on my advertisement?

A: Advertisements currently only allow for one main photograph and up to four additional photos that will appear in a pop-up window when selected by the site visitor.

Q17: Photographs – How do I put my property photograph on my buy-to-let advertisement?

A: If you have a picture file in either JPEG or GIF format, enter the filename in the field "Upload a picture file from your computer". Ensure that the image is (a) no more than 300 pixels in width and (b) less than 20Kb in memory size.

Alternatively, the form that you complete when submitting an advert enables you to specify the location of a picture file on the web. Ask your Internet Service Provider (ISP) if you have web space on which you can place a copy of our picture, and how to place a picture there. A copy of that picture will be attached to your advert. Picture files must be in either JPEG or GIF format.

Q18: Photographs – I do not have a photo of my property in JPEG or GIF format. How do I put my buy to let property photograph on my advertisement?

A: In this case, post your photo to "Photos" lucamtrade. Indicate the address stated on your advert so that we can locate it. We will add the photo to your advert. We regret that we are not able to return your photos without an SAE.

Q19: Sales - What are the chances of selling my home on the Internet?

A: The fact that many Estate Agents now have web sites is testament to the fact that many houses do sell with help from the Internet. lucamtrade is a site dedicated to people with a particular interest in investment property. So, whilst the number of viewers of properties on this site may not exceed that of general sites, the typical investor using buy-to-let-4-sale is more likely to demonstrate genuine interest.

Q20: lucamtrade's Income - How does lucamtrade make money?

A: This is the most commonly asked question. Advertising is offered to individuals looking to advertise their buytolet or investment property. We make our money primarily from estate agents who submit multiple properties and from commercial suppliers of products and services associated with investment buy to let properties.

Q21: Visitors - Why does lucamtrade get so many visitors?

A: Many of lucamtrade visitors are repeat visitors who benefit from the constantly updated and vibrant content provided on this web site. Many first time visits result from the excellent rankings the site attains on various search engines through the dedicated work of the founders of lucamtrade who constantly review the changing market place in the internet to ensure continual high rankings. There are also many links from independent web sites which share an interest in buy to let investment properties.

Q22: Viewings - Do you arrange appointments for people to view my property?

A: No. People who are interested in your property will contact you direct by telephone or email. But don’t forget to let them know that they can post ‘offers’ to your account if you want some privacy when negotiating on price.

Q23: Can’t Sell My Buy-to-Let Property – I placed my advert some time ago but I still haven’t found a buyer?

A: The buying and selling of houses has always remained a key topic of conversation and there are plenty of hints and tips for securing a quick and profitable sale on your property. For some of the basics click here. Hints and Tips for securing a quick and profitable sale on your property. If you are selling a buy-to-let property that does not currently have tenants in place, it may well be worth sourcing tenants for the property. This way you can update your advertisement to show what the monthly rental income is to clearly demonstrate to a potential buyer how the property is currently performing from an investment point of view. Plus, some investors will be keen on these types of property where they haven’t got the time to search for tenants once they take possession of the property. For many it is simply the peace of mind of buying a ‘ready made’ buy-to-let property, contact lucamtrade.com to find a letting agent in the area of your property.   Remember to let the tenants know that you are selling the property but make it clear that you are marketing your buy-to-let property to investors who are likely to want tenants already in place.

Have you considered whether the presentation of your property is not appealing to potential buyers. It is quite surprising what impact it can have to a potential tenant or buyer, on the way a buy to let property is presented for sale. Whether it is for tenants or for buyers, we would all like to live in a comfortable modern and practical home. If budget is an issue and you don’t want the expense of buying all new furniture whilst your property is on the market for sale, then it may be worth ‘dressing’ the property for sale by way of using a furniture rental package. Contact lucamtrade.com for more details on buy to let furniture packages.

Got a question but its not covered here?

Please send your question to us and we will reply at the earliest opportunity.

A new letting by a landlord who is not living in the same house as his tenant will normally be either an assured tenancy or an assured shorthold tenancy. An assured tenancy will generally allow the tenant to stay for as long as he wants. An assured shorthold tenancy will allow the landlord to take the property back at the end of the agreed term.

Whether they let on an assured or an assured shorthold tenancy, landlords can now charge tenants a market rent. So you need not fear that you will be forced to let at an unrealistically low rent. There are one or two rules, to prevent overcharging, but broadly speaking the rent you agree with your tenant is the rent he must pay.

It used to be difficult to get your property back when you wanted to. Now it is possible to let property for the length of time which you find convenient and be absolutely certain that you can get it back. This type of letting is called an assured shorthold.

The Rent you can Charge
-------------------------------------
If you let on an assured shorthold tenancy, where you have the absolute right to get the property back, your tenant has the right during the first fixed period of the tenancy to ask the rent assessment committee to determine a rent for the tenancy. This is an independent statutory body consisting usually of three people: a lawyer, an expert in property valuation and an ordinary lay person. The committee will only set a rate if there is evidence that you are charging significantly more than other landlords of assured shorthold tenants in your locality. The rent they determine will be a market rent.

If you let under an assured tenancy which is not an assured shorthold, you and your tenant agree the rent he will pay and you can also agree how it is to be increased. No one can interfere with the rent, or the rent review mechanism, once it has been agreed between you and your tenant - although you and your tenant can agree to a change if you both wish.

If you decide not to include in the initial agreement some means of raising the level of rent you can still do so in some circumstances. You cannot, for example seek to increase a rent for which there is no rent review mechanism for a fixed term tenancy. But you will always be able to increase your rent if the contract says that you can.

Getting your Property Back
---------------------------------------
Getting your property back when you want it is now easier than ever before. You have an absolute right to get it back at the end of an assured shorthold tenancy. Although it should be remembered that it is not normally possible for the landlord to get the property back until after the initial 6 months unless there has been a breach of a term of the tenancy agreement, or the tenant agrees to leave at an earlier date. The tenancy can be extended at the end of the initial term either by granting a further fixed term, or allowing it to continue as a periodic tenancy for as long as you wish. If you allow a shorthold tenancy to run on in this way you retain the right to seek possession of the property at any time on giving the tenant two months' notice of your intention to do so, and the court must grant you possession when you seek it.

A full assured tenancy (i.e. one which is not a shorthold) gives the tenant more security. But you can still get the property back in certain circumstances, and the law will not protect bad tenants. There are seventeen grounds in law on which an assured tenancy may be brought to an end. Some of the grounds are mandatory, so if they are proved the court must order possession, whilst the remaining grounds are discretionary, and the court will grant possession if it considers it reasonable to do so.

Some of the grounds are prior notice grounds, which means that you must tell the tenant in writing before the tenancy is entered into that you may wish to get the property back in some circumstances. These grounds are useful if you are unsure when you may need your property back (though you will not be able to use them during a fixed term tenancy). For example, you may want to move back into what was your main family home because a job in a different part of the country has come to an end.

Some of the answers to the common questions below show how some of the grounds might be used, and others are referred to in the section dealing with problems with your tenant.

Common Questions
------------------------------
Q. What rent can I charge?
A. You can charge a full market rent. It may be useful to look in the local paper in the property or classified section under accommodation for an idea of local market rents.

Q. How do I create an assured shorthold tenancy?
A. You simply need to agree the main terms of the letting with your tenant; the monthly or weekly rent, and the length of the term of letting. This should be done with a standard form called a tenancy agreement. These are available from your letting agent or legal stationer.

Q. What happens when the fixed term of an assured tenancy comes to an end?
A. Your tenant has the right to remain in the property until the court has granted you possession. In the case of an assured shorthold tenancy, the court must grant you possession if you apply for it once the fixed term is over. To bring an end to a full assured tenancy you will need to use one of the seventeen grounds.

Q. How do I get my tenant to leave?
A. You must give him written notice that you intend to seek a possession order in the court or, in the case of an assured shorthold tenancy where you are relying on the fact that the term of the shorthold has come to an end, simply notice that you require possession. Although there is no prescribed form for this notice it should contain certain information and suitable forms are available from legal stationers.

If you are relying on one of the seventeen grounds, rather than the shorthold, you need to give notice using a special form available from legal stationers. You normally need to give two months' notice before applying to the court to bring an assured shorthold tenancy to an end, although the period of notice you must give will sometimes be longer, for example for a yearly tenancy (one which runs from year to year) where the period of notice required is at least six months.

The period of notice is only two weeks for the 'bad tenant' grounds such as rent arrears, but longer (normally two months) for the other grounds.

If the tenancy is periodic you will need to provide the required period of notice, and the notice must expire on the last day of a period of the tenancy.

Q. Will I be liable for my tenant's Council Tax ?
A. No, not usually. In ordinary dwellings (i.e. those dwellings which are not Houses in Multiple Occupation (HMOs)) the resident (in this case the tenant) is responsible for the payment of the Council Tax for the property. Where the property is an HMO the landlord will be responsible for the payment of Council Tax. Properties inhabited solely by students are exempt from Council Tax and, where the property is unoccupied, the landlord will be entitled to a 50% reduction.

Q. What if the property is mortgaged?
A. Most mortgage deeds prevent you from letting without your lender's consent. Ask him before taking on a tenant.

Q. What if I am leaseholder? A. You should check the terms of your lease, and if necessary ask your landlord's permission.

This page is a brief guide to lettings, what records you need to keep, and how to make a simple annual return of your net letting income to the Inland Revenue. It does not however attempt to cover the wider aspects of personal taxation. If you are unsure about any aspect of your tax liability, you are advised to seek further advice from your accountant or financial advisor.

Q. Will I have to pay tax on my letting income ?

A. Not necessarily - it all depends on your personal financial circumstances. For example, if the let property is mortgaged, and the mortgage and related costs of upkeeping the property exceed the rent you receive, then it is possible that no tax will be payable.
Home letting - your tax positionIncome tax is payable on rent received from property which is let. Your tax position will determine whether you pay tax or not. All profit you make from letting should be added to your other taxable income for the year, although the financial records for letting must still be kept separate. You have to pay income tax if the total of your taxable income is greater than your tax allowances. Rent a Room Scheme. If you let rooms within your own home, you may qualify for a tax exemption. Contact your tax office for more details. (Inland Revenue Booklet number 87)

Q. What expenses can be offset against the rent received ?

A. Only those expenses incurred "wholly and exclusively" for the purpose of the let can be offset against your letting income. This leaflet explains many of these allowable expenses in a later section. These might include mortgage interest, general repairs and maintenance, insurance and of course your agent's property management fees.

Q. What records do I need to keep ?

A. You need to keep a record of all income and expenditure incurred in relation to all lettings. The records should show to whom payments have been made and from whom income has been received. Forms of the type shown below can be used to compile your Letting Income Schedule. Back| N

Completing your income schedule. The example schedule below demonstrates how you may calculate your tax liability on income from furnished lettings. For your guidance in completing your income schedule, the following brief notes will help you to decide what to include and what not to include:

WATER AND OTHER RATES. Include here the full amount of water, sewerage and any other rates paid on the property if these are not paid by the tenants. In certain circumstances, a landlord may also be liable for council tax and this could then be included.

INSURANCE. You may include all insurance (buildings, contents and mortgage protection etc.) policies in connection with your property.

REPAIRS & MAINTENANCE. This may include any expenses that are for repairs and general maintenance of the property. Costs for improvements to the property cannot be fully set off against tax.

PROPERTY MANAGEMENT FEES. On request, at the end of the tax year, your letting agent should be able to provide you with details of your rental income and management fees.

WEAR & TEAR. For property let furnished, you may claim an allowance for the wear and tear of furnishings. This is calculated by taking 10% of the rental income for the year, less water rates and council tax (if paid by the tax payer). Alternatively, you can claim for replacement costs - but in most cases, the 10% allowance is both more beneficial and simpler.

MORTGAGE INTEREST RELIEF. You may generally claim tax relief on interest payments relating to a loan used to purchase or improve a property, where the property is let for 26 weeks or more.Where the property being let was previously used as your home, it is likely that you have been claiming tax relief on mortgage interest under the MIRAS scheme. For tax purposes, only that portion of interest paid outside the MIRAS scheme may be set against your letting income. Depending on circumstances, it may be more beneficial to withdraw from MIRAS in order to claim higher rates of relief against tax. (the MIRAS scheme will be withdrawn in April 2000) Back| Next

Things you should remember:

RECEIPTS. Have you kept receipts for all expenses incurred ? From 6 April 1996, all tax payers have been required to keep tax records of all purchases and receipts under the Self Assessment system. You are required to keep the records for five years.

CAPITAL GAINS TAX. Should you sell your property, you may become liable for Capital Gains Tax. Your financial advisor can explain this in greater detail. Things you should consider:Lettings Insurance. Insurance schemes are now available to protect against rent arrears and costs of legal disputes with tenants. Accounting. An accountant is often useful to help you prepare your final accounts.

Q. Where do you go for more Information ? A. If you would like more information, you should try the following sources: Self Assessment A general guide - SA/BK1 A guide to keeping records - SA/BK3 Rooms to Let - Inland Revenue leaflet IR87 These leaflets and other information are available through your local tax office. 'Which ?' - Consumers' Association Tax Saving Guide. Published annually. Department of Environment Leaflet No. 22. Letting Rooms in Your Home. Available from the Citizen's Advice Bureau. Inland Revenue Tax Helpline: Tel: 0645 000444 Your Letting Agent

EXAMPLE LETTING INCOME SCHEDULEProperty:

Rental Income for the Year
ended 5th April 19... ...... £ 4500

EXPENDITURE:

Water and Other Rates £ 210 £ 210
_________ _________
Rents (net of rates) ...... £ 4290
Insurance £ 190 ......
Repairs & Maintenance £ 310 ......
Motor Expenses £ 20 ......
Cleaning Materials £ 10 ......
Sundry Expenses (phone, post etc) £ 20 ......
Gardener's Wages £ 50 ......
Other ..(Carpet Cleaning) £ 80 ......
..................................... £......... ......
..................................... £......... ......
Management Fees £ 500 ......
Accountancy Fees £ 50 ......
Wear & Tear ......
(allow 10% of rents net of rates) £ 429 £ 1659

Net Rents ...... £ 2631
LESS Interest paid £ 1800 ......
on mortgage/loan ...... ......

TAXABLE INCOME ...... £ 831

Bac