Page 191 – Property118

Rent controls do ‘more harm than good’ – IEA

16th August 2024

Rent controls do far more damage than benefit tenants, according to a comprehensive global review. A new briefing paper from the Institute of Economic Affairs (IEA) has poured cold water on calls for rent controls in Britain, finding overwhelming evidence of negative consequences. The paper by Dr Konstantin Kholodilin, analysed 196 studies spanning six decades […]

Landlords are buying more PRS homes than they sell

16th August 2024

More landlords are investing in the private rented sector than exiting it, research from the TDS Charitable Foundation reveals. Despite a small net increase in rental properties, the study of more than 2,000 landlords found a significant imbalance between supply and demand. The survey reveals that while 19% of landlords purchased properties in the past […]

sadiq khan rent controls

Sadiq Khan seeks rent control powers over London landlords

16th August 2024

Sadiq Khan is pushing the Labour government to give him the power to impose rent controls in the capital. The Telegraph claims that if given the go-ahead, the Mayor plans to set up a commission to create rent control plans that are tailored to London. Parliament would be required to pass laws giving him the […]

Scottish housing market growth shown with rising property values in West Lothian

Industry leaders warn Scottish Housing Bill could have severe consequences

16th August 2024

A new lobbying group of industry leaders has warned that the Scottish Housing Bill will create uncertainty and hamper investment. The More Homes More Quickly Group, representing private rented housing providers across Scotland, told the Herald newspaper that some aspects of the Bill could face a “potential legal challenge.” The Scottish Housing Bill aims to […]

Business professional in light blue blazer smiling against grey background

Landlords prefer five-year fixed rate mortgages – Landbay

16th August 2024

Buy to let landlords are increasingly opting for the stability of five-year fixed rate mortgages, research from Landbay reveals. The lender’s survey found that 71% of landlords plan to choose a five-year fixed rate when they next remortgage, a significant rise from 49% last year. This preference for longer-term certainty contrasts with a decline in […]

Signing housing agreement with model house on desk

Setting up as an agent?

16th August 2024

Hi, I have a friend who has had too many bad experiences with letting agents and sick to the back teeth of them not doing what he pays them to do. He has approached me to look after and manage his property on his behalf – exactly on the same basis he would employ an […]

Black mould growth on a damp window corner after tenant eviction.

Housing associations under fire for failing to address window repairs

16th August 2024

Britain’s largest housing association has been slammed by the Housing Ombudsman for failing to fix a faulty window for four years. Clarion Housing Association left a child’s bedroom window boarded up for four years which caused damp and mould in the property. The Housing Ombudsman report is part of a series on severe maladministration of […]

Will Higher CGT Rates Crush Property Investment?

15th August 2024

In this video, Ranjan Bhattacharya dives into the potential consequences of equalizing Capital Gains Tax (CGT) with income tax and why this policy could be disastrous for property investors. We explore the impact on the property market, the possible decline in investment incentives, and what this change could mean for both new and seasoned investors. […]

FHL, Paragon and Aldermore unveil lower BTL rates

15th August 2024

‘Buy to Let by Foundation’, the BTL brand of specialist lender, Foundation Home Loans, has revealed lower rates across its core buy to let product range by up to 30 basis points (bps). This follows price reductions announced last week on their ‘Specials’ offerings. The latest cuts impact a wide variety of mortgages, catering to […]

Expert hits out after councils escape safety fines that would ruin private landlords

15th August 2024

A landlord law expert has blasted four council housing providers for avoiding hefty penalties despite severe safety breaches which would bankrupt private landlords. Phil Turtle, a director of Landlord Licensing & Defence, is furious that Brighton and Hove City Council, London Borough of Hackney, South Derbyshire District Council, and Ashford Borough Council escaped punishment for […]

UK rents surge and house prices rise – ONS

15th August 2024

The average private rent in the UK surged by 8.6% in the 12 months to July 2024 and house prices rose by 2.7%, to £288,000, the Office for National Statistics (ONS) reveals. Its latest rent and house price index shows that there’s no change from June’s rent rise which remains below the peak of 9.1% […]

Tenant deposit and rent arrears

Rent arrears soar leaving landlords struggling with shortfalls

15th August 2024

Rent arrears have surged by a staggering 30% year-on-year, according to new data Deposit alternative provider Reposit reveals the average claim for rent arrears hit £2,092 in the second quarter of 2024. This marks a 15% rise from £1,816 in Q1 2024 and a 31% increase from £1,594 in the same period last year. UK […]

What should I do if my property is reclassified to a domestic property?

15th August 2024

Hi, I have a property with eight flats, including the one I live in. I used to do holiday lettings, but due too my age (76) and less holiday makers, I have decided to let them on a six month assured tenancy. The property is listed on the Valuation Office Agency (VOA) as Holiday Lettings […]

pic of woman tenant not communicating with landlord property118

How to deal with an uncooperative tenant in arrears?

15th August 2024

Hi, I have a tenant in my apartment and he has been withholding the rent for two months, despite our best efforts to resolve a complaint that he raised. The problem has been, that both my managing agent and the workman have had difficulty contacting him to arrange a visit. We have also placed the […]

bailiff

How to get a earning deduction order from court?

15th August 2024

Hi, I have finally got a court order against my ex-tenants after nine months of struggle, they owe me over nine months rent, not to count the damages done to my house. However, they moved out before the bailiffs could be instructed from a previous court order to evict them. The court order is addressed […]

What can I do if my R2R in London was mis-sold?

15th August 2024

Hello everyone, I took on a rent-to-rent (R2R) unit in June through a property sourcer based in London. The sourcer promised hands-off management with a 14% + VAT fee. However, the data presented by the sourcer hasn’t matched reality, and I’m losing about £800 per month. There are no bookings for September and October, so […]

Pet clause in lease for a share of freehold property?

15th August 2024

Hi, I bought a share of a freehold flat, there are two flats, and my co-freeholder lives downstairs. We both bought the flats at the same time but they moved in two months before us. Our lease states the following about pets: *No birds, dogs or other animals which may cause annoyance to any owner […]

Eviction notice with red cross symbolizing dispute over Section 21 and rent arrears eviction

What does Labour’s hardship test mean for landlords?

14th August 2024

Just when landlords thought it could not get any worse, it seems it has! It’s all over the news that Labour is planning to deliver the final hammer-blow to landlords. There is some uncertainty to what it actually means in practice until the details are written down but could the proposed hardship test mean even […]

Landlord criticises policies for pushing tenants into homelessness

14th August 2024

A landlord is blaming selective licensing and universal credit errors as a “recipe for disaster” that are causing tenants to become homeless. According to government data, landlords asking tenants to move out is the leading cause of homelessness in Nottinghamshire. Mick Roberts, one of Nottingham’s largest landlords for housing benefit tenants over the past 27 […]

Business professional in blue suit representing NRLA leadership on housing crisis.

NRLA warns Labour that rent controls could spark rental crisis

14th August 2024

The National Residential Landlords Association (NRLA) is warning the Labour government that a third of private landlords could sell up if rent controls are imposed on the private rented sector (PRS). It points to a study it carried out which found that in the second quarter of the year, 82% of landlords in England and […]