Page 217 – Property118

Government urged to stop ‘grandstanding’ and help landlords

3rd April 2024

There needs to be a shift in government policy to stop ‘grandstanding’ and recognise landlords’ rental income as business income for tax purposes, one firm warns. The call comes from Andy Halstead, the chief executive of HomeLet, after its latest rental index revealed an annual 7.52% rise in UK rents. Tenants are now paying an […]

Helping a tenant who has had a stroke?

3rd April 2024

Hello, I have had a great tenant for the last 16 years, always paid on time, he kept the place reasonable tidy, always phoned if there was a leaking tap etc and I would repair it within a couple of days. I have not hiked his rent massively, just the odd £10 or £20 over […]

Buy to let profits dip despite rising rents

3rd April 2024

Landlords have seen a 6% drop in the average buy to let property’s total return over the past two years as costs rise, research reveals. Octane Capital says the profits fall is down to rising mortgage costs, rising agent charges and lower capital growth – despite rental income rising by 19%. The firm looked at […]

Houses of Parliament in London viewed from across the River Thames

Renters (Reform) Bill will face tweaks to help landlords – and tenants

2nd April 2024

The government is set to tweak its Renters (Reform) Bill in England, aiming to address concerns from landlords while still delivering security for tenants. Critics say the changes will create ‘a landlords charter’ but ministers are responding to criticism from Conservative MPs who say the Bill is too burdensome for landlords. The revised proposals include […]

Business professional in suit representing Aldermore mortgage update

Most tenants say they have good landlords

2nd April 2024

Landlords in the UK should ignore what the likes of Shelter and Generation Rent say since most tenants say they have a good landlord, research reveals. The findings from Aldermore challenge the stereotype of what those organisations and the media portray as tense relationships. The majority (69%) of private renters report having a positive experience […]

Pic of pound coins landlords insurance property118

Has anyone claimed on tenant default insurance?

2nd April 2024

Hello, Does anyone have experience of claiming on tenant default insurance? I have had a tenant default claim refused since they say that as the tenant does not have any money that they could recover, they consider the case does not comply with their policy. Seems weird as I would have thought that that is […]

pic of blocks showing a rent rise for a tenant property118

Rent increase paperwork dilemma?

2nd April 2024

Hi, I want to make a 5% rent increase for tenants who are on assured shorthold periodic tenancies. I have never increased rent but have a clause in the tenancy agreements which states: “If the tenancy continues beyond one year and is an Assured Periodic Tenancy then the rent will be reviewed annually on or […]

confused

Can’t get building insurance certificate from freeholder?

2nd April 2024

Hi, despite my repeated emails to my block managing agent, my freeholder is not providing the block’s building insurance certificate. I am entitled to a copy by law. But what law? How do I identify the individuals who own the freehold (I have the company name) and their addresses in order to write to them […]

tenants’ fear becoming homeless agents landlords property118.com

Is legislation forcing people to live on the streets?

2nd April 2024

I am exasperated by my situation and navigating the never ending legislation forcing landlords to evict, sell or face a criminal conviction. The great majority of landlords, to my knowledge, are normal caring people. We want to help others by providing accommodation for a fair price. We want to treat tenants fairly and we want […]

Business professional in formal suit at modern office building

UK house prices edge up despite monthly seasonal dip – Nationwide

2nd April 2024

The UK’s house prices rose by 1.6% in March compared to the same period last year, following a 1.2% growth in February, according to Nationwide. This represents a modest increase but there was a 0.2% dip in prices on a monthly basis when adjusted for seasonal variations. The lender’s chief economist, Robert Gardner, said: “Activity […]

rabbits

Rabbits and bird running loose in property!

2nd April 2024

After the trauma of my first section 8 eviction, I finally enter the house to find the tenant, has let rabbits and a bird run loose in the house. As a pensioner I am left with clearing up this disgusting mess and trying to repair the property, gnawed balustrades, doors, gas fire insulation, scratched carpets […]

Woman in red dress smiling while seated in an office chair.

First-time buyer numbers surge in 2024

2nd April 2024

First-time buyers are a driving force in the housing market this year, making up a record one-third (33%) of all purchases in Great Britain during the first quarter, Hamptons reveals. This marks a significant jump from 29% in 2023, the previous high point. Lower mortgage rates compared to last year have improved affordability, enticing many […]

landlord question water leak property118.com

Need for repairs hindered by a challenging tenant?

2nd April 2024

Hi, I have a block of 10 small studios, all long term and lovely tenants – one of my lovely tenants has become tricky since his girlfriend moved in – his shower leaks into the studio downstairs, a couple of repairs have been made over the last couple of years as there was nowhere for […]

A landlord’s stark warning to tenants on legislation impact

28th March 2024

A landlord has warned that “tenants will suffer the most” if new legislation and regulations get the green light. Mick Roberts, one of Nottingham’s largest landlords told Property118 about the harsh realities facing both sides of the rental divide. He also says selective licensing is causing chaos for landlords in Nottingham. Help tenants find a […]

Landbay's sales and distribution director, Rob Stanton wearing a light blue suit and white shirt

Landbay, YBS and Foundation unveil new BTL products

28th March 2024

Landbay has introduced new five-year fixed-rate offerings at an 80% loan-to-value (LTV) ratio, catering to both standard properties and small houses in multiple occupation (HMOs) and is the latest among several BTL lenders announcing product changes. In addition, the lender has implemented numerous rate reductions. Its new 80% LTV five-year offering for standard properties is […]

Have we got possession after death of tenant?

28th March 2024

Hi, I’m very much an accidental joint landlord with my brother. The flat we had was rented through a letting agent however at the beginning of the year our tenant sadly passed away. The church acting on behalf of the tenant’s estate has now cleared the flat and handed back the keys. I was told […]

Leasehold rights from freeholder property118.com

Non-Qualifying Leaseholders push for reform

28th March 2024

Following the Non-Qualifying Leaseholders Campaign Groups member representations including correspondence to their MPs and case studies reported by media, the government are considering an amendment to the Leaseholder Protections in the Building Safety Bill to give parity to those holding properties jointly. Currently the act deems innocent leaseholders to be liable for some remediation costs […]

Keep Portfolio or buy into a REIT?

28th March 2024

Hello all, my father is a portfolio landlord who wants to retire. He doesn’t want the hassle of managing property anymore, but has very little interest in the stock market as to him it’s not a tangible option. My suggestion to him for his peace of mind if he were to sell up would be […]

Property expert outdoors discussing rising UK rent prices

UK rents rocket by 46% in a decade

28th March 2024

The average UK rent has climbed by 46% in the past decade thanks to surging tenant demand and limited rented home supply, research reveals. According to Zero Deposit, it is the lack of available rental properties that is a key driver of this surge. While the total number of rental homes reached an estimated 5.22 […]

Yorkshire Building Society launches £5,000 deposit mortgage

28th March 2024

Yorkshire Building Society (YBS) has unveiled a groundbreaking £5,000 deposit mortgage specifically designed for first-time buyers. The unique product allows potential homeowners with the deposit to buy a property valued up to £500,000. The building society’s research has identified £5,000 as the crucial amount that could dramatically reduce the time needed to save for a […]

Modern Scottish Parliament building in Edinburgh with Calton Hill in the background

Concerns over proposed rent controls in Scottish housing bill

28th March 2024

The Scottish government has published its new housing bill which claims to prevent homelessness and strengthen tenants’ rights. Proposals in the new bill include bringing in long-term rent controls for private tenancies and new rights to keep pets. The Scottish Association of Landlords warns the proposals will “exacerbate Scotland’s housing crisis”. Create rent control areas […]