Page 264 – Property118

Renters face ‘bleak’ future as average rent hits record high

12th October 2023

Renters in the UK are facing a ‘bleak’ future as the average rent price has reached another record high of £1,276 in September 2023, according to one index. The data from HomeLet, the tenant referencing and insurance provider, reveals that the average rent price in the UK has increased by 8.9% since September 2022, and […]

Smaller university towns offer the best returns for student landlords

12th October 2023

Student landlords are seeing higher returns on their investments in smaller university towns and cities, according to a new analysis. Paragon Bank says that the average rental yield for buy to let properties in popular student postcodes has risen from 5.63% in September 2020 to 6.66% in August 2023. The highest yields were recorded in […]

NRLA urges Government to end LHA freeze

12th October 2023

The National Residential Landlords Association (NRLA) has called on the Government to lift the freeze on housing benefit rates, which it says is a ‘travesty’ that harms tenants and landlords. The NRLA made the plea at a Labour Party conference event, where it also highlighted the need for more investment in private rented homes. The […]

Renting linked to accelerated ageing claims researchers

12th October 2023

Living in a private rented property is related to faster biological ageing, according to new research. Findings by the Journal of Epidemiology & Community Health reveal living in a rented home can make you age at double the rate of those who own their homes. The health journal says the scrapping of Section 21 will […]

Gas hob burner with blue flame during operation, relating to gas safety checks after appliance repairs

Gas charged for 6 months that isn’t used in the house?

12th October 2023

Hello, in March of this year, a heat pump was installed in a large Victorian HMO, great idea. Since then Octopus hasn’t removed the old gas meter, and keeps on charging a maintenance fee, yet the gas meter is disconnected and gas isn’t used! I have frequently asked for the meter to be removed therefore […]

Spotlight 63 – HMRC and Property118 Agree

11th October 2023

Following the social media frenzy regarding HMRC’s Spotlight 63 on “Hybrid LLP” abuse we have been asked numerous times by our clients how they might be affected by planning we have recommended to them. The answer is simple, they are not. There are times when landlords opt to place their property rental business into an […]

Angela Rayner dodges landlord questions in LBC interview clash

11th October 2023

In a feisty exchange on LBC, the Shadow Housing Secretary Angela Rayner refused to comment on Labour’s plan for landlords. Ms Rayner found herself in a heated exchange with LBC presenter Andrew Castle, who repeatedly pressed her about the growing number of landlords leaving the market. The Labour politician vehemently disagreed landlords were leaving and […]

Starmer promises houses – but landlords will be alarmed at fringe meeting promise

11th October 2023

While Labour leader Keir Starmer didn’t mention the private rented sector (PRS) in his speech to his party’s conference in Liverpool, a fringe meeting held earlier will alarm landlords. That’s because a Labour MP promised that the Renters (Reform) Bill will become law under a Labour government – and says it is a ‘good starting […]

Rental market frenzy: Nottingham landlord sheds light on supply and demand imbalance

11th October 2023

The mismatch between supply and demand is worse than ever with a frenzy of activity in the rental market. New research by Rightmove reveals letting agents report an average of 25 enquiries from prospective tenants for every property on offer. One of Nottingham’s largest landlords reveals why tenants are struggling to get housing and why […]

Portrait of a business leader in suit and tie

Scotland’s house prices soar by 27% since pandemic

11th October 2023

Scotland has seen a remarkable surge in house prices since the start of the pandemic, according to a leading property firm. DJ Alexander Ltd, Scotland’s largest estate and letting agents, said that average prices have increased by 27.4% since March 2020 when the pandemic began. This is a stark contrast to the previous 40-month period, […]

solicitor's fee signing DPS form property118.com

Inventory clerks can help landlords avoid fines under the Renters (Reform) Bill

11th October 2023

The Renters (Reform Bill), which aims to improve the quality and safety of rental properties, could impose heavy fines on landlords who fail to comply with the Decent Homes Standard. However, inventory clerks could play a key role in helping landlords avoid such penalties by providing professional inspections and reports. That’s the view of Nick […]

Pic of frustrated woman landlady dealing with UC helpline property118

Tenant in rent arrears and universal credit denied?

11th October 2023

Hello, this a case whereby I have served a section 8 to my tenant and at the same time tried to negotiate with Universal Credit if they could pay the tenant’s rent. Unfortunately, I received an email from the Universal Credit team that the tenant does not qualify for Universal Credit and will not be […]

Upgrading – what options are there?

11th October 2023

Hello, to reduce paperwork/printing etc, I’m looking at options (like DocuSign as just one example) where my own docs/contracts etc plus copies of gas certificates and the like can be sent through to the tenant to be marked as received, signed for and copies of the same returned electronically. Also, need the ability to send […]

Finance expert warns Budget tax raid could drive landlords from the private rented sector

BTL mortgage market recovers with lower rates and more options

10th October 2023

The buy to let mortgage sector has bounced back from the pandemic slump with lower fixed rates and more product options, according to the latest analysis by Moneyfactscompare.co.uk. The comparison site found that the overall BTL product availability – both fixed and variable – has improved month-on-month by more than 100 deals. There are now […]

Housing market shows resilience amid high interest rates

10th October 2023

The UK housing market is proving resilient in the face of high interest rates, according to Nicky Stevenson, the managing director of Fine & Country. She says that the market is recalibrating to a higher interest rate environment, and that sentiment should slowly improve as buyers and sellers increasingly know where they stand. Ms Stevenson […]

Chancellor delivering a speech on Britain’s economic future

NRLA welcomes promise to boost home supply by Labour

10th October 2023

The National Residential Landlords Association (NRLA) has welcomed plans by Labour to boost the supply of homes in the UK should it be returned to power. Shadow Chancellor Rachel Reeves had told the Labour Party conference in Liverpool that the party would ‘rebuild Britain’. That would see the speeding up of the planning for critically […]

ECO 4 Anyone

Insulation and fire exit challenges?

10th October 2023

Hello, I have a building control issue whereby the extension was built and not enough insulation was put in the cavity wall by the builder who was not aware. Building control wants this done as per the required amount. They have been advised that the whole property is an old one and no cavity wall […]

Government calls on social housing tenants to take action for improved living standards

10th October 2023

Social housing tenants are being urged to put pressure on landlords to improve their living conditions in a new campaign. The government has launched the next phase of the ‘Make Things Right’ campaign, which aims to empower residents to report issues and make complaints to improve social housing conditions. The government wants to inform social […]

eviction notice opened envelope landlords property118.com

Eviction notice cancelled?

10th October 2023

Hello, I tried to evict a tenant in 2022 and got a possession order asking the tenant to leave on 1st December 2022. Got bailiffs involved but we cancelled the bailiffs as the tenants paid the majority of the debt. Now the tenant has not finished paying the old debt, but we agreed to let […]

Engineer performing maintenance on a home boiler system to ensure safe winter operation

No Gas and No gas certificate?

10th October 2023

Hello, what do you do as a responsible landlord when your plumber arranges an appointment not once but twice to visit your tenant’s flat on the anniversary of your gas safety check to be greeted by the tenant/contract holder (Wales) with there is no gas running to the boiler. The tenant hasn’t paid the bills […]