Page 211 – Property118

Rent rises to outpace wage growth despite cooling prices

8th April 2024

Despite a recent cooling down in rent price growth, renters are likely to see their housing costs rise faster than their earnings in the coming years, a new report reveals. The think tank Resolution Foundation says average rents could rise by 13% over the next three years, as today’s high market rates work their way […]

Making Tax Digital – Maximum efficiency option?

8th April 2024

As landlords, we are forever accommodating new changes, a major procedural one will be the switch to (Make Tax Digital) MTD – April 2026 for some and April 2027 for the rest. This is widely understood to increase workload? As someone with many years experience of being an IT programmer and systems architect I do […]

Who pays for damaged door after police welfare call?

8th April 2024

Hi, I am a new landlord and the police carried out a welfare call at the property. The police would not share any details with myself. When they forced entry the tenant was inside the property and the case was closed. There is now a damaged door which needs replacing. Do I pay for this […]

Substantial water damage not reported to me by tenant or agent!

8th April 2024

Hi, a recent inspection received from my managing agent revealed substantial water damage to the upstairs bathroom walls and flooring and also damage to the walls and ceiling of the downstairs cloakroom underneath. My builder believes the damage was caused over many months if not years by the tenants being careless when bathing/showering and some […]

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EPC’s are changing – apparently?

8th April 2024

Hi, just read a new article on the NRLA website. This one seems to come out of the blue to me. Never heard of it until now. Is anyone else none the wiser? Not heard about any consultation or anything yet this looks a done deal! Thoughts everyone? EPCs are changing: what does this mean […]

Secrets to Success in Property Development with Immanuel Ezekiel

8th April 2024

Join Ranjan Bhattacharya for a podcast with Immanuel Ezekiel, a seasoned veteran in the world of property development. In this exclusive episode, Immanuel shares his wealth of wisdom and insights on how to thrive as a property developer. From identifying lucrative opportunities to overcoming challenges, Immanuel’s expertise will inspire and empower aspiring developers. Whether you’re […]

Contrast between traditional terraced houses and a large modern social housing block in an English city

Labour’s PRS review nears completion – ‘bold’ solutions promised

8th April 2024

A comprehensive review of the private rented sector (PRS) which was commissioned by Labour, is nearing its conclusion, the website LabourList reveals. The review is expected to be published soon after the local elections on 2 May. In early 2023, Lisa Nandy, the former Shadow Levelling Up and Housing Secretary, entrusted the review to Stephen […]

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Help – Dwelling Count for Deed of certificate?

8th April 2024

Hello Folks, I am in the process of completing the Leaseholder deed of certificate and I need some help. On question 1 of the qualifying lease criteria, I am confused, about whether additional properties purchased in Limited company should be considered. Here is my situation – 1 Leasehold BTL purchased from builder in 2017 1 […]

Rental property sign outside a house highlighting UK housing supply shortage and rent rise concerns

Renters are spending nearly 40% of their wages on rent

8th April 2024

The average UK tenant is spending nearly 38.3% of their monthly income on rent which means many will be teetering on the edge of affordability, research reveals. Financial experts generally advise keeping the rent proportion of income below 40%. The findings from Canopy looked at tenant income and rent payments to calculate the rent-to-income ratio. […]

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Council keeps housing waiting list open amidst housing crisis

8th April 2024

One of England’s largest councils announces it will not close its social housing waiting list. Birmingham City Council considered the option of closing its social housing list to new applicants in February but it has since announced its decision not to close waiting lists. The move comes after several councils in England, including Leeds, are […]

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The Renters (Reform) Bill doesn’t need tweaking – it needs sinking

5th April 2024

News that the Government is tweaking the Renters (Reform) Bill has been welcomed by landlords everywhere, not so much by the usual suspects, but this awful legislation really needs sinking. The proposed changes, including the abolition of section 21 ‘no-fault’ evictions, do nothing to help the private rented sector (PRS) and only contribute to rising […]

UK house price growth slows after five months of rises

5th April 2024

UK house prices continued to rise year-on-year in March, although the pace of growth slowed compared to the previous month, Halifax reveals. Its house price index shows that annual property price growth came in at 0.3%, down from 1.6% in February. There was a slight dip in monthly prices too, with the average house price […]

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BTL landlords are shrinking portfolios despite rising rents

5th April 2024

Buy to let investors in England and Wales are reducing the size of their portfolios, despite healthy rental income growth, research reveals. According to Open Property Group, which analysed data on portfolio sizes and profitability, the average investor now holds 8.5 properties, a 1.6% year-on-year decline. However, the regional variations are stark with Yorkshire and […]

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Rents in England have risen by 28% since 2020

5th April 2024

Rents in England continued their upward annual climb in March and while month-on-month prices remained flat, they rose 6.4% compared to March 2023, Goodlord reveals. The firm’s latest rental index also highlights that rents are now 28% higher than in March 2020, just before the pandemic lockdown. In 2020, the average rent for a property […]

BTL lending slumps amid rising costs for landlords

5th April 2024

The UK’s buy to let market is experiencing a significant slowdown, with a sharp decline in new lending and increasing financial pressures on landlords, according to the latest quarterly data. UK Finance has revealed that the value of new BTL mortgages in Q4 2023 plunged by 55.4% compared to the same period in 2022, reaching […]

Fears of landlord exodus over stricter laws are ‘overblown’ – SMF

5th April 2024

Stricter regulations of landlords, including ending Section 21 ‘no-fault’ evictions, wouldn’t lead to a shortage of rental properties, one think tank says. New research from the Social Market Foundation (SMF) challenges the government’s justification for watering down the Renters (Reform) Bill. It says by studying other countries, England lags in tenant security with short tenancies […]

Landlords prioritise energy efficiency despite government policy changes

5th April 2024

Landlords are now prioritising energy efficiency when purchasing a new investment property, according to new research. Data from The Mortgage Lender, reveals a quarter of landlords (25%) are now placing a strong emphasis on energy efficiency when buying new properties for their portfolios. This comes despite the government scrapping EPC targets which would have required […]

Rental market under strain as demand outpaces supply

5th April 2024

A new report reveals demand consistently outstripping supply in the rental market, leading many landlords to sell as their mortgage deals end. According to the latest figures from Propertymark’s Housing Insight Report, February saw a significant 26% decrease in the number of available rental properties. Rents also continue to fluctuate with member agents reporting rent […]

Warning: Are landlords being encouraged to sell too early?

4th April 2024

By now you’ve probably heard of Landlord Sales Agency, and our articles that suggest the market is in favour of landlords selling. But is this a genuine concern or is it another strategy designed to get landlords to ‘sell for less’? Recently a landlord reached out to us to question whether the buy-to-let industry really […]

Universal Credit claimants face housing affordability crisis despite benefit increase

4th April 2024

Universal Credit claimants face a severe shortage of affordable rental properties, with a recent rise in housing benefit failing to keep pace with soaring rents. While Local Housing Allowance (LHA) will increase for the first time in four years from this week, research by Savills reveals a significant gap. It says that the average LHA […]

Housing crisis emerges as top priority in new poll

4th April 2024

The housing crisis takes the lead as the most crucial issue for Generation Rent, according to a new poll. A survey by flatshare website SpareRoom reveals the top seven election issues for renters with the housing crisis beating the cost-of-living crisis and immigration. The poll also reveals that only 16% of renters can identify the […]