Page 257 – Property118

UK house prices bounced back in October after six-month slump

7th November 2023

The UK’s house prices rose by 1.1% in October to end a six-month slump of price falls. However, the Halifax house price index reveals that prices are still down by 3.2% in the year to September. The average house is now worth £281,974 – which is £40,000 higher than before the pandemic. Halifax says that […]

Right to manage company adding a director?

7th November 2023

Hi, We have a RTM (Right to Manage) Ltd company running our block, of which out of the 12 properties, 6 owners are directors who set up the company and paid all the fees to take over – approx £4k. My question is, if someone existing or a new owner wants to be a director, […]

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

Landlords split on selling property amid rising costs

7th November 2023

Landlords in the UK have different plans for their portfolios in the next 12 months, with two-thirds (66%) of landlords not wanting to sell any of their property, research reveals. The findings from Landbay also show that one-third (34%) are considering selling some or all of their property – but just 10% of these landlords […]

Scottish housing minister denies rent cap is causing housing crisis

7th November 2023

The SNP’s housing minister has refuted claims that the government’s rent cap policy is exacerbating Scotland’s housing crisis. Paul McLennan denied claims the rent cap is driving up prices and reducing supply in Scotland. Scottish ministers introduced a 3% cap on private sector tenancies in October last year to help with the cost-of-living crisis, and […]

three students one bed property118.com

Student accommodation crisis: rents soar as supply dwindles

7th November 2023

The UK’s student accommodation market is facing a crisis, as rents skyrocket, supply falls behind and demand increases, according to a new report. StuRents, a student accommodation portal, says that student rents are now up more than 10% year-on-year, while student maintenance loans have only increased by 2.8%. The average price for a bedroom in […]

Pic of leasehold word and explanation property118

Need help with Leaseholder Deed of Certificate?

7th November 2023

Hello Folks, Are there any landlords out there being asked to provide Leaseholder Deed of Certificate by ground rent management Company due to the Building Safety Act 2022 and associated regulations? It seems quite complicated and I’ve not got a clue about it. Has anyone managed to complete it? Any advice will be much appreciated! […]

The times newspaper logo

The Times wants to speak to student landlords

6th November 2023

Are you a student landlord who is selling up as you find it unprofitable? Then, Ali Hussain, The Times and The Sunday Times chief money reporter would like to speak with you. Mr Hussain would like to speak to Property118 readers about: Why are or were you invested in student accommodation? Is it still a […]

Shelter slams the prospect of charity fines for handing out tents

6th November 2023

Homeless charity Shelter has hit out at the prospect of charities being fined for dishing out tents to homeless people under government plans – which could be revealed in tomorrow’s King’s Speech, the Sunday Times reveals. The paper quotes Shelter’s chief executive Polly Neate as saying: “Living on the streets is not a lifestyle choice. […]

Landlord overwhelmed by paperwork and financial documents while managing rental property changes.

Utility companies and legal services – debt paid?

6th November 2023

Hi, If a rental property is empty and being refurbed for several months, and the landlord (from another area) then visits, there can be quite legitimate electric bills waiting. But what if the utility company has contacted a legal firm who have added a few hundred pounds to the bill to pursue the debt – […]

Can anything be done if Agent has given wrong advice for the past 3 years?

6th November 2023

Hi all, I need some help here and any advice will be much appreciated! My agent has given me the wrong advice in the past 3 years+ that it’s against the law to charge a tenant rent arrears fees (Whereas the Government’s How to Rent Booklet clearly stated rent arrears can be charged with 3% […]

Councils spend £1.74 billion on temporary accommodation for the homeless

6th November 2023

The Local Government Association (LGA) has warned that homelessness has reached record levels, with 104,000 households living in temporary accommodation at the end of March 2023. This is an 89% increase over the past decade and the highest figure since records began in 1998. The LGA, which represents councils across England, said that the severe […]

Picturesque towns face housing crisis

6th November 2023

Idyllic towns in England are being overrun by second homeowners and holiday lets with some towns declaring a housing crisis because local people have nowhere to live. Frome in Somerset is just one of several towns to declare a crisis because locals are being priced out of the market due to soaring rents. This Property118 […]

Neil Cobbold discusses impact of Renters’ Rights Bill on letting agents

Renters (Reform) Bill could increase homelessness, warns industry expert

6th November 2023

A proposal to abolish section 21 ‘no-fault’ evictions to protect tenants from being unfairly evicted could have the opposite effect, according to a leading industry figure. The Renters (Reform) Bill proposes to scrap Section 21 notices, which allow landlords to evict tenants without giving a reason. However, Neil Cobbold, the managing director of PayProp UK, […]

Professional woman standing outdoors, illustrating commentary on pressures facing renters and landlords

‘Devastating rent rises’ for tenants as landlords sell up

6th November 2023

Private rents have soared in England and Wales over the past year, according to a new report from the Office for National Statistics (ONS). The report, based on data collected from February 2022 to September 2023 as ONS researchers revisit privately rented properties, They do so, on average, every 12 months in England or nine […]

45 Minutes with Mark Alexander on The HMO Podcast

3rd November 2023

The founder of Property118, Mark Alexander, recently appeared on The HMO Podcast to share his 36 years of experience in property, finance tax and law. The podcast is entitled: ‘Building A 7-Figure Property Business, Tax Planning, And The Future Of The PRS’ and was recorded on 5th September 2023. It was released by the interviewer […]

Will The UK Housing Market Crash In 2024?

3rd November 2023

Will there be a crash in UK house prices in 2024 or will the property market just see a ‘correction’ in house prices? Ranjan is back with another video sharing his property price predictions for 2024 as well as tips on how property investors can benefit from a market crash. Check out the video below:

Knight-themed Landlord Crusader logo symbolizing landlord advocacy

Why the Renters’ Reform Coalition is bad for landlords AND tenants

3rd November 2023

The Renters’ Reform Coalition (RRC) is a group of organisations that claim to fight for tenants’ rights, but in reality, they are harming both landlords and tenants in the private rented sector (PRS). They are pushing for radical changes that would make renting more expensive, less secure, and less available for millions of people who […]

Landlords are ‘being pushed out of’ the PRS

3rd November 2023

The Government’s inaction and the rising interest rates are driving landlords out of the rental market, according to a new report. The study by Yorkshire Building Society (YBS) revealed that more than half of landlords feel they are being ‘squeezed out’ of the sector and most of them think it is becoming ‘less appealing’. The […]

Angela Rayner faces fury from landlords over Section 21 removal

3rd November 2023

Angela Rayner has promised to abolish Section 21 straight away if Labour wins the next general election. In an interview with LBC, the Shadow Housing Secretary answered questions from worried landlords about the removal of Section 21. Ms Rayner argued that “no-fault evictions are causing misery for people”. What happens if Section 21 is abolished? […]

Scottish housing minister discusses landlords’ role and investment rights

Scottish government’s rent freeze deemed legal

3rd November 2023

A senior judge has rejected landlords’ pleas and found the Scottish government’s rent freeze and eviction ban was not unlawful. Landlords expressed “disappointment and frustration” but vowed urgent action must be taken by the Scottish government to address fundamental problems in the housing sector. A coalition of members including the Scottish Association of Landlords (SAL), […]