Time is running out for landlords who want to benefit from an available allowance on their rate bills.
Land & Property Services (LPS) is reminding landlords who have an Article 20 or Article 21 account that their bills should be paid in full by 30 September 2016 in order to receive the respective reduction on their bill.
If you are responsible for the rates on one or more rental properties which are occupied by tenants, you may be entitled to an allowance of 10% which is paid by way of a discount of your rate bill.
The discount is only awarded when an Article 20 or 21 landlord pays in full by the date due on their landlord rate bill. This allowance does not include their residential address, second homes or personal holiday homes. For properties where the tenant is currently liable for the rates, the landlord can sign up to a formal agreement with the Department under Article 21 of the rating legislation for them to pay the rates on the property.
Landlords are advised to allow a minimum of five working days for any payment to reach LPS and 10 working days for any payment made via the Post Office. If LPS does not receive full payment by 30 September 2016 the allowance will not be awarded.
LPS is actively pursuing landlords with arrears of rates. LPS is willing to assist any landlord in arrears by agreeing mutually acceptable payment arrangements that could allow a discount to be awarded for current year rates.
Landlords having difficulty paying their rate bill should contact LPS as soon as possible by telephoning 0300 200 7801. It may be possible to discuss alternative payment arrangements to avoid LPS taking legal debt recovery action.
For more information on the different types of landlord accounts available, including signing up to Article 21 accounts, visit the nibusiness info website at: http://www.nibusinessinfo.co.