Page 201 – Property118

Right to Rent checks soar 577% as fines increase

30th May 2024

Landlords and letting agents in England are conducting Right to Rent checks at an unprecedented rate, with a staggering 577% rise year-on-year, according to research. Credas Technologies says the surge comes after big increases in fines for non-compliance with the Right to Rent scheme. It requires verification of a tenant’s immigration status before they can […]

Social housing provider slammed for poor tenant services and worker treatment

30th May 2024

Social housing landlord Sanctuary Housing has been accused of prioritising profits over tenants and staff well-being by the union, Unite. The UK’s leading union is highlighting ongoing strikes by Sanctuary’s London repair workers. It points to a recent Housing Ombudsman report criticising the landlord’s service provision as evidence of a systemic problem. Sanctuary, with assets […]

Paying for a selective licence?

30th May 2024

Hi, as far as I am aware, while the cost of a selective licence is determined by councils, the process of paying in parts is set out in legislation. This was further clarified after the case R (Hemming t/a Simply Pleasure v Westminster CC [2017] 3 WLR 317). The case stated that under Part 2 […]

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Addressing new owners’ legal non-compliance in leasehold property?

30th May 2024

Hi, we own the freehold of a property in Wales containing three individual leasehold flats, one of which has recently had a change of owner, who is failing to uphold or comply with his legal obligations. Note, we own the entire freehold. We sold the ground floor leasehold flat approximately 5 years ago, and it […]

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Record number of homes for sale will dampen price growth

30th May 2024

The UK’s housing market is experiencing a surge in the number of homes for sale, with Zoopla reporting the highest levels in eight years. This influx of properties is expected to dampen house price growth for the rest of the year while offering more choice for buyers. The platform’s research highlights that while sales are […]

Should I choose a corporate let over an AST for summer tenants?

30th May 2024

Hi, I have prospective tenants who own two coastal properties (to let out in summer), who wish to live in my city house for five months over the summer season on a short-term corporate let, not AST. They’re happy with a corporate short-term contract with two named occupants. With election looming is this advantageous over […]

Is a vote for Reform the logical choice for landlords?

29th May 2024

I’d appreciate your thoughts because it seems to me that the only realistic hope for landlords teaching the two major political Parties a lesson is to vote Reform in the hope of a Labour  / Reform coalition. Surely that would put the cat among the pigeons! Reform appears to me to be the only UK […]

Angela Rayner cleared by police over housing allegations

29th May 2024

Angela Rayner will not face any further action from Greater Manchester Police over housing allegations, but details of the probe have been passed onto HMRC and Stockport council.   Ms Rayner faced allegations of avoiding capital gains tax when selling her former council house in 2015 and electoral roll fraud. She has maintained that she […]

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Confusion around Leasehold Freehold Reform Act?

29th May 2024

Hi, does anyone have any information regarding the Leasehold and Freehold Reform Bill particularly with the redress scheme? ie will Leaseholders who are also Joint Freeholders who manage their building have to pay the same registration fee as Professional Letting Agents? The two government approved redress schemes are: The Property Ombudsman (TPO) which Letting Agents […]

0.5% SDLT on Property Investment Company Share Purchases

29th May 2024

Hi all, I am a Ltd Company B2L investor looking to expand my portfolio. One of the key barriers I face is the additional rate of stamp duty. I’m considering whether purchasing a Ltd company in its entirety might be a more cost-effective approach. My understanding is that this would be classed as a purchase […]

Landlords on the fence ahead of general election

29th May 2024

More than 40% of landlords are still undecided on who to vote for in the upcoming general election, according to a new survey. A report by Landbay, reveals, 41% of landlords haven’t made up their minds. Among those who have, 31% back the Conservatives, while a mere 12% support Labour. The Liberal Democrats barely register […]

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HMO licences hit record highs across England

29th May 2024

The number of HMO licences issued in England surged to 27,177 last year, according to data firm Searchland. Since the introduction of mandatory HMO licensing in 2018, the number of licences has seen a remarkable increase. Starting from 7,839 licences in 2018, the figures rose sharply to 26,312 in 2020. However, the numbers dipped to […]

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Finding the Right Mortgage Deal for Your UK Property Investment

29th May 2024

Investing in property investment can be a great way to build wealth and generate a steady income stream. But before you take the plunge, it’s crucial to secure the right financing for your property investment. With numerous mortgage options available, choosing the best one can feel overwhelming. This guide explores the common mortgage types in […]

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General election not likely to dent house prices

29th May 2024

The general election will not hurt house prices in the long term, according to a new study. The research from eXp UK, the platform for personal estate agents, reveals house prices climbed by an average of 5.4% in post-election years. Mr Sunak announced a snap general election which will take place on Thursday 4th July. […]

Landlord pushes back on media’s negative view of landlords

28th May 2024

A landlord has criticised the media for its one-sided negative portrayal of landlords. Mick Roberts, one of Nottingham’s largest landlords to house benefit tenants, told Property118 that the media tends to depict landlords in an unfairly negative manner. Mr Roberts is calling for more support to help landlords and to reverse Section 24. Can a […]

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Why has landlord created leases on parking spaces?

28th May 2024

Hi, we have two phases in our property development: Phase One: 149 flats (140 with leases), built around 2005. Phase Two: 66 flats (11 with leases). The landlord rents out the rest and has created leases on parking spaces in this phase. Any idea why the landlord would create leases for parking spaces in phase […]

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Letting agency demands policies that support landlords

28th May 2024

A letting agency has called for the next government not to punish landlords and instead promote policies for more investment in the private rented sector. Leaders Romans Group has compiled a Top 10 Manifesto Wishlist with a list of fiscal reforms for the private rented sector. Some of the reforms on the wishlist include tax […]

Bank extends tenancy contracts to three years amid pressure from tenant group

28th May 2024

A bank has caved in to pressure from a renter group and agreed to extend the maximum length of tenancy contracts in their buy-to-let mortgages from 12 months to three years! Tenant union group ACORN called on TSB to remove the restriction on tenancy lengths, arguing that the 12-month limit forces tenants into a cycle […]

London’s rental market shows signs of revival

28th May 2024

London’s rental market appears to be picking up as tenant demand rises after data shows there was a 12% rise in applicants in April – the first time since January. Data from Foxtons shows that tenant demand is down 10% year-on-year, but it appears that renters are taking advantage of less competition to move home. […]

Agent mistake confirming wrong TDS deposit scheme?

28th May 2024

Hi Everyone, An unusual one here as my tenant engaged solicitors to claim against me, because my agent made a mistake on the AST prescribed information stating the deposit is put in the TDS custodial scheme. However, I actually used the TDS insured scheme. Has anyone come across this issue before and could the tenant […]