Deposit_2

Shock survey claims 1.5m deposits ‘not in any protection scheme’

A comparison website claims that over 1.5m tenants know their landlord has not placed their deposits into a government-backed deposit protection scheme. The startling figure comes from Comparethemarket which claims that despite the legal obligation for landlords to put deposits into schemes such as the DPS, many tenants say they know this has not been done. Meanwhile a fifth of tenants claim that they do not have a contract with…

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London Skyline

London lettings market will recover – but it’ll take two years at least

A major property platform says London’s rental and sales market may well be on the road to recovery – but that it will not happen for another two years at least. Home says prices look set to stabilise in the capital within two years due to improving rental yields. “During London’s recent property boom, house prices soared ahead of rents. Investment fever drove prices up more than 50 per cent…

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Time Out Name Map

This map shows what the London borough names actually mean

There are some seriously old names knocking about this city of ours – and some of the oldest belong to the 32 London boroughs. The Original Tour did some etymological digging to find out where the borough names come from, and though a few (like Redbridge and Newham) are recent inventions, many date back to the Anglo-Saxon era: a time when most of what is now London apparently consisted of…

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Gas Safety Certificates Central Housing Group

London council threatens bans and fines as it brings in new licensing

The Labour-led local authority in Hackney has issued a statement pledging fines or even bans if landlords fail to get appropriate licenses by the start of a new selective regime in December. The statement says landlords of all private rented homes in Brownswood, Cazenove and Stoke Newington wards will need to hold a licence “committing them to keeping properties safe and treating tenants fairly.” More generally, the council also says…

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Long term investment Central Housing Group

Rents have fallen in real terms over the last 10 years says Countrywide

So-called ‘real rents’ – those adjusted for inflation – have fallen by 2.2 per cent since October 2008. This means that the average cost of living has far outstripped average rents. The claim comes from Countrywide’s high end brand Hamptons International, which monitors the rental market. In the last 10 years the consumer price index, which measures the average cost of goods and services, has outpaced rents. Over the last…

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3 year tenancy Central Housing Group

Now isn’t the time to introduce three year tenancies, says ARLA

The Association of Residential Letting Agents has released details of its response to the government’s official consultation on possible three year tenancies in the private rental sector – and ARLA says now is not the time to introduce such a change. The consultation which formally closed in late August invited views and comments on the benefits and barriers of landlords offering longer tenancies in England. In ARLA’s response, outlined on…

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Council rental licensing schemes Central Housing Group

Labour threat to create private rental register and more licensing

Shadow Chancellor John McDonnell has made a clear pledge to tighten regulations surrounding the private rental sector. In an interview with The Guardian newspaper McDonnell says: “Landlord licensing is not fit for purpose and the problem of rogue landlords is extensive. We need an effective scheme, local authorities that are properly resourced and improved tenants’ rights. “We [Labour] are running a consultation to consolidate the powers available to local authorities…

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Buy-To-Let Sector CHG

Housing transactions in England and Wales down almost 30% on pre-crash levels

Housing transactions across England and Wales are down almost 30% on pre-crash levels. A new report, analysing Land Registry data for the year to and including August, also says that excluding London, transactions in England and Wales are up on a quarterly basis by 15.2% but down 1.3% measured annually. The report, from London Central Portfolio, says that the wider market in England and Wales – excluding Greater London –…

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Labour calls for three weeks rent deposit

Labour sets out stall to scrap Section 21 and bring in rent controls

If it comes to power, Labour will scrap Section 21, give local authorities in cities the power to introduce rent controls, and back ‘renters unions’ to the tune of £20m – a move which critics are describing as buying the votes of Generation Rent. Shadow housing minister John Healey unveiled the proposals at the Labour party conference. The so-called ‘no fault’ ground, Section 21, which enables a landlord to claim…

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New Build Houses to let in an English Street

OnTheMarket weighs cost benefit of letting furnished v unfurnished

A two bedroom furnished flat can cost up to 21 per cent more to rent than a comparable property that’s unfurnished. Research from OnTheMarket has based the cost of furnishing a two-bed property on buying a sofa, coffee table, bookcase, TV, table and chairs, two double bed frames, two mattresses, a desk and an office chair from IKEA and Curry’s. The total is £1,800. According to the portal’s results, renting…

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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

‘Suspend Right To Rent’ call as Home Office reconvenes industry panel

The Home Office is to reconvene its private rental sector stakeholder panel on Right to Rent. This follows a controversial period for the Right To Rent measure, which faces a challenge in the High Court just before Christmas. It was announced in early June that a charity, the Joint Council for the Welfare of Immigrants, had obtained permission to challenge Right To Rent in court – it is supported by…

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Spiral Note Pad with Check List and House Puzzle - White Background - 3D Rendering

Rental standards up, but sector still needs to improve – new report

There have been “significant leaps forward” in the standards of the private rental sector in the past four years, but safety is still compromised in too many properties according to a new report. In terms of the weaknesses in the sector, the report by rental insurer AXA says just 58 per cent of properties have had a gas inspection in the past year despite these being an annual requirement by…

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Buy to let_3

New funding for government crackdown on buy to let rogue operators

Local authorities across the UK are to get another £2m to crack down on rogue operators in the buy to let sector. The new funding was announced this morning (8th November 2018) by the government. It says that whilst the majority of buy to let properties are decent homes, a small minority of landlords “continue to break the law and offer inadequate or unsafe housing – including to young families…

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Long term investment Central Housing Group

Still no sign of sluggish lettings market picking up for autumn

The latest market data produced by the Agency Express board company has revealed a further decline in activity for the lettings market in August. National month on month figures for properties ‘To Let’ showed a drop of 3.2 per cent and figures for properties ‘Let’ were down 1.9 per cent. However, looking at the Index’s rolling three monthly data figures from June to August are more resilient, with new listings…

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New build Stratford

Building in the face of uncertainty:the London boroughs defying Brexit jitters with thousands of new homes

Waltham Forest, Tower Hamlets, Hammersmith and Fulham and Newham are enjoying great house price growth and enticing buyers with new housing schemes. Despite political uncertainty, fears of a “disorderly Brexit” and dire warnings of a “no-deal” property slump from the Governor of the Bank of England, London house prices are set to climb by 13 per cent over the next five years, research reveals. The boroughs of Hackney, Camden, Tower Hamlets, Barking and Haringey are expected to ride any economic storms to lead…

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The Canadian House of Commons in the Parliament building, Ottawa, Ontario, Canada.

Late November date for MPs to debate tenants’ Creditworthiness Bill

The second reading of the Creditworthiness Assessment Bill is to take place in the House of Commons on November 23 – just over a year after it was first introduced into the House of Lords. The Bill is proposed by Big Issue founder Lord Bird and has widespread all-party support. It aims to make it a requirement for credit providers to take into account of both rental and council tax…

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Concept showing the costs of getting a mortgage

Ditch deposits – 43% of tenants want a no-deposit alternative

A new study shows that 43 per cent of tenants want the system of private rental deposits to be dropped and replaced with insurance-based alternatives. The study comes from the Centre for Policy Studies, a think tank, which claims the average renter loses over £300 per tenancy due to lost interest and inflation because of what it calls “forced participation” in deposit protection schemes. “Forcing tenants to pay large up-front deposits mean…

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Berlin, Germany - 05 21 2016:  Apple iPhone 6s screen with social media applications Facebook, Instagram, Twitter, Google, Youtube, Vimeo, LinkedIn, Pinterest, WhatsApp etc.

More tenants’ social media accounts being checked, claims lender

One in nine landlords now check prospective tenants’ social media accounts to try to assess how they may behave as renters, according to a mortgage lender. Research for Foundation Home Loans suggests that 11 per cent of landlords now look at some permutation of Facebook, LinkedIn, Twitter and Instagram to find out about their would-be tenants. The lender says that as one in seven landlords say they visit their properties…

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Alternative housing for Central Housing Group
Landlord

Shelter warns that lack of engagement from accidental landlords has ‘serious consequences’ for tenants

Shelter has warned that ‘accidental landlords’ need to be more engaged in the rental sector. Writing as part of a collection of essays to mark the Residential Landlord Association’s (RLA) 20th anniversary, Polly Neate, chief executive of Shelter, suggested “disengagement” and “lack of awareness” among those who did not intentionally become landlords had serious consequences for tenants. She said the sector is often seen as divided between rogue landlords and…

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