Page 190 – Property118

Homes for Reading closure forces tenants to find new homes

22nd August 2024

Reading Borough Council has announced the closure of its wholly owned housing company, Homes for Reading, and tenants must leave when their tenancy ends. The council will transfer the 101 homes to its housing stock and will be rented out as much-needed key worker homes at affordable rents. Homes for Reading was established in 2016 […]

Home energy efficiency rating scale with house icon

EPC targets could face delays without flexible approach warns industry body

21st August 2024

More than 340,000 homes must be upgraded every year to hit 2030 EPC C targets. However, Propertymark says at the current rate, it will take an extra 12 years to get all rented homes up to EPC C standards. Ed Miliband has previously said that all landlords must meet EPC C targets by 2030. Must […]

Base rate cut will boost house prices by 2.5%

21st August 2024

The Bank of England’s recent decision to lower interest rates to 5% has ignited optimism within the housing market, says property expert Lucian Cook. The head of residential research at Savills says the move, marking the first rate reduction since March 2020, signals the central bank’s belief that inflation is finally under control. He said: […]

Warning signs highlighting tenancy fraud risks for landlords

Surge in property alert service highlights fraud concerns

21st August 2024

Homeowners and property investors are being warned to stay vigilant against property fraud. A report by Thirdfort reveals a 26% increase in the total number of homeowners who have signed up for a property alert scheme to protect against fraudulent property transactions. According to a Freedom of Information (FOI) request by Thirdfort, 108,290 property owners […]

London’s renters face fierce competition as lettings market heats up

21st August 2024

London’s rental market has seen a surge in tenant activity, with offers and enquiries jumping 22% and 7% respectively compared to June, one lettings firm reports. Chestertons also says that it has registered a 14% increase in the number of landlords instructing for their property to be let. The data mirrors findings published this week […]

Generation Z landlords on the rise as property investment gains popularity

21st August 2024

More than 3,000 buy-to-let landlords in the UK are now under the age of 21, according to a new study. Research by UHY Hacker Young Accountants reveals Gen Z landlords are now collectively earning more than a whopping £66 million in rental income. Despite young property investors making their mark the 51-60 age group remains […]

My landlord has just increased my rent by £700 per month

20th August 2024

“My landlord has just increased my rent by £700 per month.” That’s what my tenant client said to me last week in panic mode. They’re a family of 4 consisting of a couple and 2 small children. They live in a 2-bedroom flat in Hammersmith and Fulham Council. You might be thinking… “How on earth […]

Pic of bailiff outside a tenants house arrears landlords property118

Will the council rehouse a tenant in rent arrears?

20th August 2024

Hi, if a possession order has been granted and the tenant is waiting to be evicted because he thinks he can get a council house – his rent is 2 months in arrears – does this means that he is making himself intentionally homeless? And will the council still rehouse him when the bailiffs evicts […]

pic of tenements in Glasgow landlords tenants Scottish government property118

Scotland’s housing market outpaces England and Wales despite June dip

20th August 2024

Despite a drop in house prices in June, Scotland’s housing market is recovering more quickly than those in England and Wales. According to Walker Fraser Steele’s house price index, after several strong months, the average house price dropped by 0.7% to £223,923. Even with the slowdown in June, three local authorities in Scotland reached new […]

Pic of a leasehold hall being flooded landlord leaseholder property118.com

Do I still pay service charges for my flooded leasehold apartment?

20th August 2024

Hi, I live in a leasehold apartment which suffered serious flooding 10 months ago and caused a lot of damage. Since then, the loss adjusters and builders have been working on renovations, and I have not had any access to my apartment during this entire period. Given that I’ve been unable to use the property […]

Finance expert warns Budget tax raid could drive landlords from the private rented sector

Boom for holiday let mortgages

20th August 2024

The number of mortgage options available for holiday let landlords has significantly increased, an analysis reveals. But tax changes will impact profits from next year. According to Moneyfactscompare.co.uk, there has been a surge in holiday let mortgage deals, with the number of options jumping from 362 in August last year to 445 currently. This rise […]

Landlord overwhelmed by paperwork and financial documents while managing rental property changes.

Landlords could ‘lose control’ of properties

20th August 2024

Labour’s proposed Renters’ Rights Bill could significantly impact the level of control landlords have over their rental properties, one leading law firm says. Osborne Clarke says landlords need more clarity about the proposed Bill which offers tenants increased security but will reshape the private rental sector. The removal of Section 21 ‘no-fault’ evictions will mean […]

Pic of woman landlord tearing up an ast contract property118

Post-RRB: How will evictions work at end of an AST agreement?

20th August 2024

Hello all, I’m hoping this isn’t a silly question, however it would be great to know what people think about the following as I have not been able to find much on the matter. When the Renters Rights Bill take places (if it does and which reforms will get enacted) will the end of a […]

Is it time for landlords to take action?

19th August 2024

The last so-called Conservative government enacted some terrible policies on the PRS. After our initial shock, many of us flexed and adapted and eventually habituated to greater risks for fewer profits, many of us sold up and left the sector. All of this pales into insignificance when compared to what our current socialist government has […]

Judge’s gavel and legal scales symbolising landlord possession court actions.

Council seizes properties from landlord

19th August 2024

Merton Council is believed to be the first in the country to seize a landlord’s properties because – it claims – this will protect tenants. The council says the landlord has repeatedly flouted housing regulations by not licensing them. Under its selective licensing scheme, the council has the authority to address poor housing conditions and […]

Can I still evict a tenant with rent arrears despite council intervention?

19th August 2024

Hi, I am evicting a tenant who has been verbally abusive and threatening, and generally uncooperative. His rent is £795 pcm, and the arrears are £1,756.94. He is not the worst tenant I have ever had and the arrears are not the worst either. But he is getting to be a problem that I do […]

Revealed: The top cities for property investment

19th August 2024

Yorkshire cities are leading the way in property investment returns, outpacing traditional hotspots like London. According to the investment platform easyMoney, three Yorkshire cities have become Britain’s property investment hotspots. easyMoney has analysed average house price growth data in Britain across 15 major cities between December 2021 and today. Sheffield tops the list In December […]

nottingham story

Council prepares for overdue social housing survey despite harsh penalties for landlords

19th August 2024

Despite punishing landlords with hefty fines for selective licensing rules and failing to inspect private rented sector properties, one council will finally inspect its social housing stock after eight years. Nottingham City Council has announced a full survey of its 26,000 council homes which will take two years to complete. The long-delayed survey, originally announced […]

Landlords on edge ahead of October budget despite positive market trends

19th August 2024

Bank of England base rate cut offers a summer boost to the housing market. According to the latest Rightmove House Price Index, since the Bank Rate cut earlier this month, the number of potential buyers contacting estate agents to view homes for sale is 19% higher than in the same period a year ago. However, […]

How a SSAS pension can transform your financial future

16th August 2024

Standard pensions often bring to mind confusing jargon and offer little to no control but imagine a pension that changes all that. A Small Self-Administered Scheme (SSAS) offers full financial control and helps leave a legacy for your family. SSAS pensions are particularly beneficial for property investors and developers as they are exempt from inheritance […]