According to Foxtons, the average weekly rent for tenants in London last month was 11% higher than in August 2022, with rental prices remaining high for the third consecutive month. The average rental price has shown little change since June. Applicant registrations increased by 6% month on month, with August seeing the largest volume of […]

Hello, I was happy with my agent until they decided to retire and sold out to what turned out to be a rogue agent who against my wishes afforded an AST to someone not referenced, knowing she couldn’t pay the rent leaving me with £3000+ debt ignoring a mate living in the property. Another agent […]

The average asking price for homes in the UK rose by just 0.4% to £366,281 in August, Rightmove reports. It says that the price rise is smaller than the average of 0.6% recorded for the same month over the past 10 years. However, prices have risen at this time of year in all but three […]

The average rent in Great Britain has now passed £1,300 for the first time in a decade, according to new data. Hamptons say renters face having to fork out more than £1,000 in some areas in England whilst renters in Inner London see rents soar past £3,000. Rents in London have been rising at a […]

Lots of councils see selective licensing schemes as a way of improving housing stock in the private rented sector (PRS) and work hard at gaining government permission to set up and run these schemes. But many of the same councils that claim to need a licensing scheme to boost standards in private rented homes are […]

An updated version of the ‘How to Rent’ guide will be published next month with details of the new Housing Loss Prevention Advice Service. The move follows March’s update which saw various updates, including the installation of carbon monoxide alarms in rooms with fixed fuel-burning appliances. The newest version will focus on revising sections 15 […]

The average renter in the UK must spend 64% of their net monthly income just to pay the deposit on a new rental property, a study reveals. The findings from Zero Deposit highlight that for women, the proportion is even higher, at 77%. The study, which compared the average monthly earnings (net) with the average […]

This is a first for me so looking for some advice please! A tenant has contacted me to say they have put in all the paperwork to legally change their name. They are also undergoing transitioning from female to male. She/he asked me how this would effect their tenancy (in terms of the docuementation side). I […]

The Renters’ Reform Bill has been delayed yet again! The government confirmed that the second reading of the legislation will not take place until after the party conference season which ends on the 16th of October. There is a relatively short window of opportunity for a second reading before the King’s Speech outlines Parliament’s agenda […]

The BBC has challenged London Mayor Sadiq Khan’s claims that rents in the capital will rise to £2,700 per month – leaving renters to struggle since the average salary is £2,131. The mayor has called several times for a rent freeze to help tenants cope with the housing crisis – and used these figures as […]

Hello, I’m hoping for some advice please. I had rising damp treatment carried out beneath the bay window of a Victorian terrace and the firm I used recommended ‘tanking’ as the way to deal with it. The contractor’s 20-year guarantee now appears to be worthless on the sale of the property. (I had no sight […]

All tenants have a right to quiet enjoyment, but can councils still inspect a property if a tenant and landlord refuse? The answer to the question – which many landlords may find surprising – is ‘Yes’. Councils do have a legal right to entry and don’t need permission from the landlord or the tenant. In […]

A staggering five million households will be forced to spend more than a third of their income on housing by the end of the decade, according to a new study. The National Housing Federation reveals the sharp rise in renters struggling to meet housing costs. The report finds that by 2030, compared to the most […]

If you need to sell you no longer have to worry about Estate Agents taking too long, or auctions offering too low a price, portfolio exit specialists are the solution. Over the last 12 months we’ve have had to deal with impossible rules and regulations that have put an end to property being a savvy […]

The government have announced £50 million in funding to help older and disabled people make adaptions to live independently in their own homes including in the private rented sector. Landlords can access the funding from the local authority Disabled Facilities Grant (DFG), providing they have a tenant living in the property that requires the adaptation. […]

Buy to let landlords wanting cheaper BTL mortgage products are seeing rates being reduced as three more lenders are now offering cheaper products. The Mortgage Works (TMW) has unveiled rate reductions of up to 0.5% on selected new business products, delivering potential savings to investors in the buy to let market. Fleet Mortgages, a specialist […]

Renters in the UK are facing the highest level of rental affordability in a decade as demand for rented homes outstrips supply across the country, Zoopla reveals. The property platform has published its latest Rental Market Report and found that renters need to spend 28.4% of their gross earnings to cover the average rent. That’s […]

The UK’s rental market is facing a shortage of available properties, as tenant demand continues to outweigh landlord instructions, the Royal Institution of Chartered Surveyors (RICS) reveals. The survey also shows that house prices are on a downward spiral, as the sales market slows down. According to RICS, tenant demand rose for the third consecutive […]

QUESTION If a UK letting agent collects say £10,000 in rents from tenants and passes this onto landlords net of the agents 5% fees, what income does the agent need to declare to HMRC? Would it be the full £10,000 of rent collected or would it be his 5% agency fees only? ANSWER FROM PROPERTY118 […]

Up and down the country landlords are caught in the trap of having to pay for a selective licence. These licenses aren’t cheap and for the money landlords spend, councils don’t appear to be inspecting properties. In a series of special reports, Property118 looks at the issues surrounding selective licences starting with the expansion of […]

Landlords have been reducing their property portfolios across England and Wales due to unfavourable policies by the past few Conservative governments, one letting and estate agent says. The research by Benham and Reeves compared the number of properties owned by investors in the first quarter of 2022 and 2023. It found that the average portfolio […]