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More landlords using agents after buy to let taxes kick in

The proportion of landlords who use a letting agent to help manage their property has spiked since the end of last year. A survey of 754 landlords conducted by the National Landlords’ Association shows that 61 per cent currently use a letting agent – a rise of seven per cent since the final quarter of 2016. The sudden rise represents a break from the norm as the proportion of landlords who…

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Conservatives

Tory peer attacks his party over anti-rental sector policies

Conservative peer Lord Flight, a former shadow Chief Secretary to the Treasury, says the UK needs “a vibrant and growing private rental market” if Tory objectives are to be met should the party win the General Election. Lord Flight, a long-standing supporter of the rental sector and a critic in the past of Conservative government policy failing to back landlords, says on the Conservative Home political website: “In its housing…

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Residential Landlords Association logo

5 Top Tips for Managing Rent Arrears

The RLA’s Landlord Finance, Investment and Tax Report 2016 found that 28% of landlords have experienced rent arrears in the past 12 months. Once a tenant falls into arrears it immediately impacts on a business. Landlords have mortgage payments to make, insurance premiums to pay and maintenance costs to cover all of which are heavily reliant on the income from rent. With this in mind, here’s our five top tips when it…

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For Rent

Top 10 best places to invest in BTL

Landlords seeking the highest buy-to-let yields in England and Wales may wish to consider buying property in the North East, where the best returns of any area are currently achievable, according to new research. It is not clear how the research rated areas and whether it is based on house prices or yields, or both, but here are the results:                    …

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HMRC

How to avoid a tax investigation by HMRC

As I have mentioned many times, Nick and I were subject to an HMRC audit several years ago which lasted around 18 months. It was a very stressful experience, but we were supported by our accountant, who made the process much more bearable for us. After 18 months of grilling and providing endless documentary evidence, nothing came of it, and it was closed with the acceptance that we had paid the…

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To_Let

Top 10 worst places to invest in BTL

A recent survey claims to have revealed the top 10 worst places for BTL in the UK, using average rents, income, and yields. Most of the top 10 are in the South. 10.  Brighton 9.    Chelmsford, Essex 8.    St. Albans 7.    Winchester 6.    Oxford 5.    Cambridge 4.    Bournemouth 3.    Sevenoaks, Kent 2.    Central London 1.    Poole, Dorset Blog Post from Property…

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Close-up of businessman written on paper on white background / businessman is writing a letter or signing a agreement.

Why are property inventory reports important?

Property inventory reports are no longer just about preventing disputes about condition and cleanliness.  As the in-vogue term ‘Generation Rent’ suggests, house purchases are edging further and further from reality for much of the population.  The result? A wiser, more assertive market place of renters that know their rights. In turn, rental legislation and taxation is becoming more onerous.  In the last 12 months we have seen the introduction of: Smoke…

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Letting agency warns of rise in rents

5 Top Tips for Managing Rent Arrears

The RLA’s Landlord Finance, Investment and Tax Report 2016 found that 28% of landlords have experienced rent arrears in the past 12 months. Once a tenant falls into arrears it immediately impacts on a business. Landlords have mortgage payments to make, insurance premiums to pay and maintenance costs to cover all of which are heavily reliant on the income from rent. With this in mind, here’s our five top tips when it…

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The Paragon Group

Buy to let sector still strong according to major specialist lender

The Paragon Group of Companies has reported that its new buy to let lending totalled £556.2m for the six months to the end of March this year – a strong performance despite a sharp drop on the £823.6m for the first six months of 2016. Last year’s figure was heavily influenced by the rush to buy investment property ahead of the April 2016 stamp duty surcharge deadline. Paragon has also announed that…

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A landlord has been fined for flouting safety laws

Family of rogue landlords guilty of ‘Shanty Town’ overcrowding

A family of rogue landlords who crammed 31 tenants into a ‘Slumdog Millionaire’-style shanty home have this month been found guilty of breaching licensing rules. Mother and daughter Harsha and Chandani Shah, along with Harsha Shah’s brother Sanjay, were pocketing around £112,000 a year by stuffing 31 people into what Brent council describes as “appalling conditions” in a four-bedroom house in Wembley. Jaydipkumar Valand, who collected the rent off the…

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for-rent

Data suggests fewer people ending tenancies because of bad conditions

Data gathered for a specialist insurance firm suggests that 14 per cent of private tenants have moved in the last five years due to the condition of their rental property – a decrease from the 19 per cent recorded in June 2016. The data sample is very small – only 100 people questioned by Usurv for Cover4LetProperty – but suggests that poor condition is less of a problem than before.…

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House document with keys and pen

Tenant happiness on the rise as more opt to rent long-term

A study of over 3,000 tenants has found that an increasing number of renters are ‘very happy’ with their living situation. LSL Corporate Client Department’s 2017 Tenant Survey found that 32% of renters claim to be ‘very happy’, up from 28% last year. A further 37% indicated that they are ‘happy’, increasing marginally from 36% in 2016. Just 4% of tenants said they were ‘very unhappy’, down from 6%, while…

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Energy saving bulb and incandescent bulb in perpetual motion over blue background

Minimum Energy Efficiency Standards are unenforceable, say rural landlords

A group of rural landlords has called on the government to clarify Minimum Energy Efficiency Standards (MEES) legislation being introduced next year. The CLA, which represents 30,000 landlords, says the government is running out of time to make ‘crucial amendments’ to MEES. As of next April, it will be illegal to let a property that has an Energy Performance Certificate rating lower than an E-. The CLA – which has…

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London, United Kingdom - December 12, 2013: A Close Up Shot Of Two United Kingdom Biometric Passports On A Road Map Taken In A Studio

Charity crowdfunding for legal challenge against Right to Rent rollout

charity Joint Council for the Welfare of Immigrants (JCWI) has this week launched a crowdfunding campaign to raise funds for a legal challenge against a further roll out of the Right to Rent scheme.Right to Rent – which requires agents and landlords to check the immigration status of prospective tenants – is currently only operational in England, but there are plans for it to be introduced in Scotland, Wales and…

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letting agent fees from labour party

Labour manifesto includes fees ban, rent controls and minimum tenancies

The Labour Party has published its full manifesto for the upcoming General Election on June 8. Titled ‘For the many not the few’, the manifesto says the population is coming under ‘increasing strain’ from falling living standards, growing job insecurity and shrinking public services. The 128-page document dedicates just one page to the Private Rented Sector, alongside pages for home ownership and council and social tenants. Labour has proposed introducing…

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Flat 3, 98 Mornington Crescent, TW5 - void on eviction 21.08 (6)

One in four tenants would keep quiet about property damage

One in four tenants wouldn’t inform a landlord if they had caused significant damage to their rental property, a survey has revealed. A YouGov survey of 2,000 adults commissioned by property listing website TheHouseShop discovered that 27% of renters would keep any damage from their landlord. While 15% said they would secretly hire a professional to repair the damage, 11% have enough faith in their DIY skills to attempt to…

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House price central housing group

Numbers of Canny Women Becoming Landlords on the Rise

Pension’s uncertainty is one of the main reasons why the number of women becoming landlords is on the increase, according to a latest survey. A landlord specific insurance company recent survey claims that 40% of BTL landlords are women, and that the private rented sector is fast gaining true equality much faster than other industry sectors. From its poll of 447 landlords, it uncovered that 63% of female landlords are…

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Micro Home Central Housing Group

Large Number of Tenants Happy Not to Own a Home

UK House prices are putting it out of reach for many people to be able to own their home with percentage of home ownership continually falling. However in many cases it is not just house prices that are the reason for renting a ‘home’, it is also about their particular life choices. A new industry term has appeared called ‘lifestyle tenants’ and over 50% of the 1,400 that took part…

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Fine for landlord for fly tipping offences

Landlord receives £235,000 Fine for Illegal Bedsits

A landlord who has a property in East London, was given a fine of more than £235,000 after admitting her guilt in Snaresbrook Crown Court of owning illegal bedsits and renting them out. Barking and Dagenham council took the landlord to court when they discovered the landlord to have gone ahead with renting out the bedsits despite breaching a planning enforcement notice, for extending her property to accommodate the bedsits.…

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It's time to get the paint brushes out again

Shocking Numbers of Private Landlords Unaware of Changing Energy Efficiency Rules

It has been reported that just under two thirds of landlords with properties in England and Wales, are by no means up to speed with new legislation coming into force next April regarding the Minimum Energy Efficient Standards (MEES) for buy-to-let properties. It was set out in the 2015 Energy Efficiency Regulations that any new leases on properties being let out from April 2018 that have an EPC (energy performance…

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