The head of the parent firm of mydeposits is warning tenants and landlords tempted to enter into new ‘no-deposit’ schemes to approach the idea “with their eyes wide open.” Eddie Hooker, chief executive of Hamilton Fraser – owner of mydeposits – says the cheap option of a no-deposit scheme has obvious appeal to landlords and tenants alike. However, he warns: “Despite the initial attraction, I have been unable to find… Continue Reading Mydeposits launches sharp attack on ‘no-deposit’ alternatives

The National Landlords Association has come up with an unexpected possible side effect of the new Tenants’ Fees Bill – it may add up to a ban on tenants with pets. The NLA’s latest blog looks at what is known so far about the Tenants’ Fees Bill, revealed in outline at last week’s Queen’s Speech. The Bill outlines a ban on landlords and agents from requiring tenants to make any… Continue Reading Government’s Tenants’ Fees Bill may effectively ban tenants with pets

An alternative to traditional deposits, already tested in the German rental market, is now being introduced into the UK – and claims it may offer a way around future deposits cap hinted at in the government’s Queen’s Speech last week. Flatfair is a system under which tenants pay it a so-called ‘flatbond’ – just one week’s worth of rent – ahead of the tenancy. In return, landlords are covered for… Continue Reading Possible way around future deposits cap

Agents and landlords are unwittingly issuing incorrect Section 21 notices, resulting in thousands of pounds being wasted on aborted possession claims and extensive delays in recovering property, a solicitor claims. Danielle Hughes from Kirwans law firm said that the confusion has arisen as a result of legislation changes applying to residential Assured Shorthold Tenancy (AST) agreements which began on, or have been renewed since, October 1 2015. Hughes says the… Continue Reading Thousands wasted on wrong Section 21 notices

The government has recently given councils new powers in dealing with ‘rogue’ landlords and Newham Council is probably the first council in England to issue a direct fine under the new rules. The new powers now mean that councils are now able to dispense with having to undergo lengthy and costly legal processes. The ‘rogue’ landlord was fined at the end of April under the new legislation in the Housing… Continue Reading Newham Council Issues Direct Fine On Landlord

In just under six months, more UK landlords are opting to contract Letting Agencies to manage their properties. An association claims that from its latest survey of property investors, 61% of the landlords are using Letting Agencies to look after their properties which is 7% higher than the end of 2016. The association is very surprised at the rise as over the past few years the proportion of landlords has… Continue Reading More Landlords Preferring Letting Agencies

The Buy To Let Investment market has for a long period yielded high mega double-digit returns for all investors, and has consistently proven to beat all major asset classes in the last five years. New research highlights the need for the sector’s investors to make changes within their strategy, because of the anti-landlord stance taken by the government with its new measures that started last year. The CEBR (Centre for… Continue Reading Buy To Let Investment Is Still Lucrative

There has been a ‘robust’ improvement in the lettings market according to board company Agency Express. It says its nationwide data on To Let and Let properties during May show 15.8 per cent and 13.8 per cent increases respectively in May. Eleven of the 12 regions recorded by the company reported increases in both new listings To Let and properties Let. This month’s top performing region was the South East… Continue Reading Lettings market enjoys robust boost

The weakness of the pound since Britain’s decision to quit the European Union a year ago means that holiday homes are now generating double the annual income of residential buy to let units, a vacation investment firm claims. Second Estates says the UK’s short-term holiday homes let market is experiencing a boom, with average income per booking up 6.4 per cent in the first four months of 2017. It claims… Continue Reading Brexit means holiday homes give higher yields than BTL

American investor Howard Marks once said about investing in uncertain times, “move forward, but with caution”. The past 18 months or so would definitely be regarded as a period of uncertainties and surprises. From Brexit and Trump to the surprise outcome of the recent UK general election, there is a high level of uncertain times in markets across the globe, and yet UK property remains a safe haven for investors,… Continue Reading Safe as houses in uncertain times

If you want to build your wealth in the short-term, the easiest way to do so is by saving more money but property is best investment you can make! If you want to build your wealth over a number of years, many investors argue that you should invest in property, with plenty of evidence available to show that this rather low-risk investment pays off over the long-term. New analysis by… Continue Reading Property is best investment you can make

Eight years of quantitative easing (QE) and record low interest rates is estimated to have cost savers more than £160bn, but supported strong house price increases as well as stocks and bonds. Analysis by online estate agents HouseSimple.com suggests that average UK home prices have increased by more than 40%, which equates to almost £60,000 since 2009, when interest rates were cut to an historic low of just 0.5%. It is now… Continue Reading House price increases since 2009 recession?

The right to rent could impact British citizens without passports, meaning almost a fifth of British citizens could find it harder to access rental property, according to the Residential Landlords Association (RLA). The industry trade body reports that 44% of over 900 landlords it surveyed said they are less likely to let homes to tenants without a British passport. This means that for the 17% of British people who don’t… Continue Reading Right to Rent could impact some UK citizens

A proposed fit for human habitation amendment may be made to the government’s Housing and Planning Bill – which suggests landlords are required to make homes “fit for human habitation” – may be reconsidered following the fire at 27-storey residential block Grenfell Tower this week. The fit for human habitation amendment was tabled by the Labour Party last year, but was defeated by MPs following a vote of 312 to… Continue Reading Fit for human habitation amendment reconsidered

The proportion of households living in the Private Rented Sector (PRS) will rise to 24% over the next four years, according to new research. Knight Frank’s Multihousing Report suggests some 5.79 million households will be private renters by the end of 2021. A significant survey of over 10,000 tenants reveals that the majority (68%) expect to still be living in the PRS in three years’ time. What’s more, the young… Continue Reading Private renters to increase by 2021

A London council is edging closer to a borough-wide licensing regime, meaning the vast majority of landlords could soon be required to licence their properties in one London borough if the government agrees rule changes proposed by the council. The ruling councillors in Brent have voted to extend the licensing of private rented properties and has agreed to seek confirmation from the government as soon as possible. All landlords will… Continue Reading Council close to borough-wide licensing regime

A prominent lettings industry campaigner says the Mydeposits boss (a tenancy deposit scheme) has “serious questions to answer” after his comments on renting reform. Mydeposits chief executive Eddie Hooker last month issued a 14-page report arguing in favour of the long-established tenancy deposit schemes and doubting the effectiveness of ‘deposit alternatives’ put forward by some in the industry. Now Ajay Jagota, founder of deposit-free renting product Dlighted, has fought back… Continue Reading Dlighted chief accuses Mydeposits boss of “bully tactics”

A specialist insurance provider has reminded landlords and letting agents of the pitfalls associated with rent guarantee insurance. Cover4LetProperty suggests that squeezed profits and legislative changes have encouraged more landlords to consider rent guarantee insurance to protect themselves against arrears. One of the firm’s directors, Richard Burgess, says that many landlords do not realise that they are required to obtain one Credit Agency Reference and at least one satisfactory written… Continue Reading Rent guarantee insurance warning

The proportion of landlords who use a letting agent to help manage their property has spiked since the end of last year, possibly due to buy to let taxes kicking in. 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… Continue Reading Landlords using agents due to buy to let taxes