Page 299 – Property118

Michael Gove backtracks on student let reforms

24th May 2023

In what appears to be a sudden U-turn, housing secretary Michael Gove is apparently backtracking on his Renters’ Reform Bill, just a week after unveiling it, the Daily Telegraph reports. It says that the government is now reconsidering whether it should end assured shorthold tenancies for student lets to become periodic tenancies. The move follows […]

Property Investors Awards Property Deal of the Year XP Property

24th May 2023

Being dynamic and challenging the norm are the watchwords that have seen Jack Jiggens and Ben Richards from XP Property enjoy success in the property market. The company specialises in delivering the highest quality residential, commercial, land and mixed-use space and the duo have won a Property Investors Award two years in a row – […]

Pic of fire hose and extinguisher tenant communication fire safety property118

Landlords urged to boost communication for fire safety rules

24th May 2023

Landlords and letting agents have been warned that updated fire safety regulations need to be strictly adhered to so they will ensure that tenants in high-rise buildings are safe from any potential danger. The warning comes from inventory provider No Letting Go, which is now calling on landlords and agents to improve communication with tenants […]

Pic of a tenant wth fingers in ears ignoring a s13 notice property118

Section 13 rent increase?

24th May 2023

Hello, What can you do when a tenant just ignores a Section 13? If he/she takes it to a Tribunal then you have to abide by the judgement. When it is just ignored, is the initiation of a Section 21 eviction the only option? Although you may not want to. Thank you, Steve

Pic of tenant with an empty wallet because of affordability issues over rent property118

A third of renters are spending more than 50% of their wages on rent

24th May 2023

Research reveals that 81% of renters in the UK are spending more than 30% of their take-home pay on rent – which means that most Brits are now classified as ‘rent burdened’ and it’s getting worse. The data from flatshare site SpareRoom also shows that one in three (34%) tenants are spending more than half […]

pic of city of london where commercial landlords are looking to invest further afield property118

Large Portfolio landlords set to defy economic gloom and boost portfolios

24th May 2023

Professional landlords look set to seize opportunities in the property sector despite the tough economic background with plans to expand their portfolios, research reveals. Handelsbanken says that more than half of large portfolio professional landlords (57%) are gearing up to acquire at least one new asset in the coming year. And nearly two-thirds (60%) are […]

pic of landlord questioning deed of variation property118

Superior landlords – the Thieves of Variation?

24th May 2023

Hello, As a reasonably large portfolio landlord, we had been caught out by the ‘Doubling Ground Rent’ clause in numerous leases for a multitude of apartments. These clauses make the property un-mortgageable in many cases, and the Competitions and Markets Authority (CMA) recognises these clauses as punitive and unfair. Many superior landlords undertook a pledge […]

Pic of old houses for HMO property118.com

HMO clarity within a ‘residential ‘lease’?

23rd May 2023

Hello,  I manage staff accommodation for our company and recently the company split and the original directors of the company went off and started a new company. These directors own houses in which we have staff living in them. I personally completed all the HMO licenses for them and they signed them. Since then those […]

pic of student tenant renters reform may mean she can leave after a month property118

Renters Reform Bill – the end of fixed term tenancies

23rd May 2023

By abolishing fixed term tenancies, the Renters’ Reform Bill will cause serious problems for landlords of student accommodation. The issue is not that the tenants may stay after the end of the tenancy but that they might leave early. Even now it can take months to evict over-stayers. Many properties are unlikely to let to […]

BTL repossessions rocket by 28% in the first quarter

23rd May 2023

There’s grim news for BTL landlords and homeowners alike as the cost-of-living crisis tightens its grip to push up mortgage repossessions, UK Finance reveals. The trade body says that in the first quarter of the year, there were 410 buy-to-let properties that were taken into possession – a 28% increase from the previous quarter. For […]

Happy tenant holding a playful French Bulldog outdoors, highlighting pet-friendly rental rights.

Smokers more likely to find a rental home than pet owners

23rd May 2023

Pet owners are facing a ruff time finding rental properties, with landlords more likely to welcome smokers than a tenant with furry friends, research reveals. According to the Vape Club, just 7% of available rentals are listed as ‘pets considered’ – compared to a whopping 44% for smokers. That means tenants who quit smoking are […]

HMRC will get a tax ‘gold mine’ with the new landlord database

23rd May 2023

The Renters’ Reform Bill has unveiled a new database that could turn into a tax ‘gold mine’ for HMRC to chase after landlords who haven’t been paying their taxes, one firm warns. Accountancy and business advisory firm BDO say the new private rented sector database will have a record of all landlords and their properties […]

Project to support landlords meet energy efficiency requirements

23rd May 2023

The Centre for Sustainable Energy (CSE) has launched an innovative project to help landlords nationwide meet the proposed energy efficiency requirements. The work is being funded by the TDS Charitable Foundation and there’s a one-stop website that is packed with helpful tips and advice. Landlords can now easily learn how to ensure their rented homes […]

How to increase the profit from your property portfolio

22nd May 2023

As we all know, thanks to the current high-interest rates, purchases of single-let properties don’t really stack up for many investors at the moment. For those property investors who already own single-let properties on variable rate BTL mortgages, now the monthly mortgage interest can be higher than the rent they receive, despite the rise in […]

Oli Sherlock the managing director of insurance at Goodlord

The Renters’ Reform Bill complexities unpacked in a free webinar

22nd May 2023

As landlords and letting agents gear up to say goodbye to Section 21 and hello to a tenant’s furry friends, property experts are offering advice in a free webinar to explain the complexities of the Renters’ Reform Bill. Property tech firm Goodlord is organising the webinar that will have expert insights tomorrow (Tuesday 23 May) […]

pic of a tenant signing tenancy contract property118

Forged signature? Court hearing for possession claim

22nd May 2023

Hello, I have a tenant who denied that she signed the tenancy receipt document at the court hearing in April. I tried to evict her using section 21. The judge told her to write a witness statement that she did not sign the NRLA Tenant Receipt Document. She denied receiving How to Rent, the EPC, […]

pic of landlord changing a light bulb tenants property118

How many tenants does it take to change a light bulb?

22nd May 2023

Hello, During a routine property inspection by my letting agents, the tenant advised that the bulb in a bathroom wall fixture had failed. He said he did not know how to undo the fixture to replace the bulb and the inspection report has come back that it is a “landlord repair”. The fixture itself is […]

pic of sun and climate change as landlords worry about epc ratings property118

41% of landlords see the ‘importance of EPC regulations’

22nd May 2023

Landlords are apparently feeling the pressure over proposed environmental regulations with 41% believing it is essential to meet the planned Energy Performance Certificate (EPC) requirements, research reveals. According to Mortgage Advice Bureau, landlords are keen to do their bit ‘for the greater good of the planet’. There is currently no legal obligation for a landlord […]

Smart home energy dashboard displaying EPC efficiency ratings for property upgrades

EPC A-C proposals affecting landlords/tenants and owner occupiers alike?

22nd May 2023

Hello, the Renters’ Reform Bill, should it be enacted, will as we know mean even fewer rental properties available and higher rents (supply and demand). Never mind rental properties not being able to meet EPC A-C  that cannot legally be rented out! What happens to those tenants living in properties that cannot meet EPC A-C? […]

property prices, rents,

Improving house market pushes prices up to a record high

22nd May 2023

The UK’s property prices are rocketing again with the latest figures revealing a surge in the average price of homes being put up for sale, research reveals. Rightmove says there has been a whopping 1.8% increase – or £6,647 – in price to push them up to a new record of £372,894. The property platform […]