Latest News/Blogs
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England faces historic housing shortfall – households set to surge 17% by 2040
The number of households in England is projected to rise by 17% to 27.6 million by 2040 causing significant demographic change. This would intensify pressure on an already stretched housing market, according to new research by multi-disciplinary development consultancy Marrons. The findings highlight a growing imbalance between supply and demand, with…
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Renters Rights Act enforcement stretched despite extra cash
One of the leading legal experts on the Private Rental Sector has suggested extra cash given to councils for enforcement may not make a significant difference. The government is giving an extra £41.12m in new funding following an initial £18.2m given to councils last year. The high profile announcement was made by the government yesterday, less…
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Rent in advance agreements can continue after May, but not all
Existing rent in advance agreements can continue beyond May’s rule changes, but only under certain conditions, according to property lawyer David Smith. Landlords who wish to continue charging rent in advance after the Renters’ Rights Act comes into force on 1st May will be able to do so, but only…
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Letting agencies rethink strategies as landlord exodus accelerates
Agents expect a sharp drop in buy-to-let investors as regulation and uncertainty reshape the rental market, says Iamproperty’s Ben Ridgway. Letting agents expect a 71% reduction in buy-to-let investors this year, which will reduce available stock and weaken a key source of portfolio growth, according to a study from Iamproperty.…
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Rightmove calls for Stamp Duty changes after first-time buyer hike
Rightmove’s Colleen Babcock says the average bill for first-time buyers tops £4.6k extra a year after a temporary Stamp Duty relief period ended. Rightmove is calling on the Government to reform Stamp Duty rules after it revealed first-time buyers are now paying an extra £4,600 since the temporary relief ended…
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Last-minute surge in evictions as law change looms
Charities and pressure groups sound the alarm over 65% increase in no-fault eviction cases ahead of May ban. A growing number of landlords are pushing through no-fault evictions in the final weeks before the law changes, with both tenant groups and charities warning of a significant last-minute surge in activity.…
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Legal challenge threatens serious setback to leasehold reforms
Labour’s flagship housing policy could collapse “like a house of cards” if courts overturn legislation, warns property legal expert James Carpenter. Leasehold reform is one of Labour’s key housing policies, but it is now facing an uncertain future after landowners secured the right to appeal the legislation that underpins the…
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Tenancy fraud hitting landlords hard, leading law firm warns
Most landlords who fall victim to fraud by renters are unable to retrieve the financial losses, according to LegalforLandlords. Tenancy fraud is hitting landlords hard, with 70% unable to retrieve the resulting financial losses, according to a leading evictions expert. Around 275,000 property owners have been victims of illegal activity…
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Property market ‘takes a knock’, RICS reports
RICS’s Tarrant Parsons says a positive feeling in the housing market has been hit by war in the Middle East, and the outlook is now flat. The housing market ‘has taken a knock’, which has hit confidence and removed the optimism felt at the start of the year, surveyors say.…
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Agents and landlords warned Information Sheet confusion could result in £7K fines
Redress scheme chief Sean Hooker advises agents to serve the new Information Sheet on the Renters’ Rights Act. Confusion over a new mandatory tenant information sheet could result in landlords and letting agents being fined up to £7,000, a property ombudsman has warned. Sean Hooker (pictured), Head of Redress at…
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Mayor reveals £400K to help tenants “hold letting agents to account”
Initiative is timed to help renters defend their rights once the Renters Rights’ Bill goes live on May 1 and comes with a poll suggesting 75% of tenants in London support rent controls. Mayor of London Sadiq Khan has launched a £400,000 ‘enforcement fund’ to support renters ahead of the…
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BLOG: Some landlords are really worried about Making Tax Digital
Many let-only landlords think they can cope with Making Tax Digital’s red tape and tech but others are scared, and agents need to help says leading figure. It’s easy to assume that the biggest concern for landlords right now is the Renters’ Rights Act. In many conversations, that’s definitely the…