Page 215 – Property118

Half the council tax tenants pay should be saved for a home deposit – SMF

21st March 2024

In a bid to help tenants save for a deposit to buy a house, half of their council tax payment should paid into a dedicated savings account, one think tank says. The novel solution by the Social Market Foundation (SMF) acknowledges government efforts to help first-time buyers but argues they haven’t addressed the issue in […]

Scotland’s rent cap backfires with big rent rises for tenants

21st March 2024

Tenants in Scotland are seeing big rent rises and the rent cap brought in by the SNP is being blamed – as rent rises elsewhere in the UK begin to fall. According to the Daily Telegraph which used Zoopla data, the rent cap and eviction ban implemented by Nicola Sturgeon is behind the rent increases. […]

professional portrait of a young man in a suit representing tenant advocacy in the Renters’ Rights Bill debate

Call for rent cap in Wales to help key workers

21st March 2024

A rent cap is needed in Wales to help essential workers struggling to find affordable housing, Generation Rent says. It warns that a one-bedroom flat in Cardiff accounts for 48% of a teaching assistant’s salary. The campaign group says this highlights the wider issue of rent affordability across Wales, with many key worker roles facing […]

Estate agent boards outside rental properties in London highlighting demand in the private rental sector

Annual rent rise is the highest ever recorded – ONS

21st March 2024

The cost of renting in the UK has hit a new high as average rents across the UK rose by 9% in the 12 months to February – the highest rise recorded by the Office for National Statistics (ONS). The trend of rising rents is consistent across the UK, with all nations experiencing significant growth. […]

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

PRS supports more than 390,000 jobs and generates £45 billion

20th March 2024

The private rented sector (PRS) in England and Wales supports more than 390,000 jobs across its supply chain and the wider economy, underlining the crucial role that landlords play in society and the economy. The report by PwC was commissioned by the National Residential Landlords Association (NRLA) and Paragon, and it also found that the […]

Appointment of Court Bailiff – How do I pay?

20th March 2024

Hello, I received an order for possession operative on or after 5 March from Southend County Court. My agent tells me that a Court Bailiff can only be appointed following payment of a further fee, which has to now be paid over the telephone, to be instigated by the Court making the call. Over the […]

Students sitting around a coffee table

Is the student lets end date really in the Renters Reform Bill?

20th March 2024

Hi everybody, regarding the Renters Reform Bill, I know Michael Gove said that he would allow student lets to have an end date which would be a positive step for student landlords. However, my wife tells me she can find no mention of this in the draft text of the Renters Reform Bill. Is Michael […]

Unregulated gas charges?

20th March 2024

Hi, I’ll try and be as clear as I can with this, it is not a system that everyone is aware of – new builds now come with a heating/energy system that produces heat and hot water to flats, this is billed separately to anything else and the leaseholder is directly responsible, usually you can […]

Report reveals rise in agent complaints and landlords feeling dissatisfied

20th March 2024

The Property Redress Scheme’s annual report paints a picture of a property sector facing challenges with agent complaint enquiries rocketing by 20% in 2023 compared to the previous year. The scheme says it is investigating 55% more cases but despite this rise, the average complaint rate per member fell. The report also features the results […]

Social housing landlord slammed for mushrooms growing in a mouldy bedroom

20th March 2024

The Housing Ombudsman has severely criticised social landlord Guinness Partnership for failing to fix problems in tenants’ homes – including a child having to live in mould for three years. Another resident had to put up with mushrooms growing in their mould-ridden bedroom. This is the second case this week which has seen the Housing […]

City’s selective licensing scheme sees a surge in applications

20th March 2024

A council’s mandatory licensing scheme for private landlords has received a higher-than-expected response in its first year. The scheme, launched in September 2022, requires all rented homes in the city to be licensed. Landlords and letting agents have submitted applications for more than 12,300 properties, exceeding the council’s forecasts by 34%. Oxford City Council says […]

Pic of garages for rent

Any advice now I can’t do DIY conveyancing anymore?

20th March 2024

Hi, I’m a niche landlord with a small portfolio of garages. These are mostly small properties able to house a single vehicle, each (a garage, not a vehicle) priced in the £20-30K range. All freeholds, all owned by my company outright, most bought off auctions with me doing my own conveyancing. When I bought my […]

Tenant passed away with no will?

20th March 2024

My long-term tenant has sadly died. She lived alone and had been in my property for over 15 years. She was on an AST tenancy agreement through my local council. The flat needs clearing and there is a lot of work to do in order to be able to rent it out again as quickly […]

Property investors turn to trade press amid economic uncertainty

20th March 2024

Property investors in the UK favour trade publications over advisors when making investment decisions, research reveals. The study of 2,000 adults by Market Financial Solutions (MFS) reveals that 16% hold property investments. The investors have interests in buy to let and holiday homes, along with second homes and commercial units. Of the investors, 55% say […]

Man outside Welsh Parliament discussing housing white paper and rental sector reforms.

Propertymark calls for better landlord support in Wales

20th March 2024

Propertymark is urging the Welsh Government to learn from Scotland’s experience with legislative changes in the private rented sector (PRS) with increased support for landlords to understand and follow new regulations. Speaking at the Local Government and Housing Committee inquiry into Wales’s PRS, Propertymark’s Timothy Douglas said the organisation supports the right to adequate housing, […]

The Art of Location Selection: Strategic Property Investing

19th March 2024

Unlock the secrets to selecting a goldmine location for property investing. In this video, Ranjan Bhattacharya delves into the tactical considerations and strategic approaches that savvy investors use to identify lucrative property opportunities. Watch the video below 

Andy Hulme of Hyde Housing Association responding to Housing Ombudsman report

Council tenants awarded £40,000 for damp and mould issues

19th March 2024

Three council tenants have been awarded a total of £40,000 by the Housing Ombudsman after enduring unacceptable living conditions caused by damp and mould. The Ombudsman identified ‘severe maladministration’ by Lewisham Council in all three cases. The compensation reflects the impact on the residents’ well-being and the loss of enjoyment of their homes due to […]

Landlords see a huge rise in Right to Rent fines

19th March 2024

Landlords and letting agents in England have been hit with a significant rise in fines for failing to comply with Right to Rent regulations. According to government figures, penalties jumped by a staggering 405% last year – hitting £151,480 compared to just £29,960 the previous year. The number of fines issued also increased dramatically, rising […]

Can a limited company be considered a direct descendant for inheritance tax purposes?

19th March 2024

Hello, my son is in the process of inheriting a residential property from his late grandmother’s estate. He’s exploring the possibility of creating a deed of variation to transfer the property into his limited company. However, I’m concerned about the implications this might have on the estate’s eligibility for the residential nil rate band relief. […]

Property expert outdoors discussing rising UK rent prices

Landlords will save £4,468 in CGT on each property sale

19th March 2024

The average landlord will benefit from a cut in Capital Gains Tax (CGT) but will still face a significant tax bill when exiting the buy to let sector, research reveals. Zero Deposit, the tenancy deposit alternative provider, has analysed house price growth over the last decade to assess the potential CGT owed by landlords. Its […]

Pic of old houses for HMO property118.com

Mandatory HMO Licence requirements?

19th March 2024

Hi, I have a 3-bedroom house in Newham I am thinking of converting the through lounge to two bedrooms thus making it five bedrooms suitable for five individuals. The kitchen and bathroom will be shared. This will be just the ground floor and first floor. Does anyone know the exact requirements? Maybe someone who has […]