Page 305 – Property118
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Rising rents force tenants to become first time buyers

3rd May 2023

While house price growth has slowed to 3%, the country’s high rents mean it is cheaper for tenants to buy, research from Zoopla reveals. The platform says that the worst of the house price falls ‘is over’ and buyer demand is continuing to recover. Also, the supply of homes for sale has risen by 66% […]

12 Months Market Rent in Advance – Subject to references

3rd May 2023

When a tenant pays rent 12 months in advance you don’t have the concern of whether the tenant will pay on time, the hassle of chasing them if they are late or the legal concerns that accompany the situation if they fall into arrears but not every tenant has the available capital to do so. […]

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If a tenant dies in my property, could I lose everything?

3rd May 2023

Hello, As legislation around landlords has increased, I am nervous that if a tenant dies in one of my properties and the insurance company finds a loophole, I or my company are held liable (we have some properties personally and some in a company). It has been suggested that if I set up a management […]

National Grid insulation scheme?

3rd May 2023

Hello, has anyone had any dealings with any contractors who are applying for government funding for insulation under the National Grid insulation scheme? I have a flat that is a bit low on insulation. It has been agreed by the surveyor it can be topped up for free and they have put me in touch […]

London leads the way with rent rises

3rd May 2023

England’s rents are on the rise and London is leading the way, one rental index reveals. According to Goodlord, rents in the capital hit a high for 2023 last month as rents steadily increased in most regions. However, renters in the South West saw their rents fall. The index also reveals that voids either remained […]

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Mould and damp a problem for majority of students

3rd May 2023

More than half of students living in the private rented sector (PRS) are living with mould or damp, according to a new study. The research by SOS UK and Universities UK reveals 57% of students have experienced condensation in their current accommodation. And nearly half (49%), also said their accommodation is poorly insulated and draughty. […]

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Property prices rocket in Scotland over the last decade

2nd May 2023

Scottish house prices have rocketed by 50% over the last decade, according to a leading property firm. The findings from DJ Alexander reveal that whilst average house prices have risen by more than half, there are enormous variations across Scotland. For example, in Aberdeen, average house prices have fallen by 16%, while in Glasgow they […]

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Guarantor for tenants?

2nd May 2023

Hello, If anyone has children in university, they’ll be familiar with the annual signing of the guarantor agreement, promising to pay the rent should your young student fail to do so themselves – and, if you don’t read the agreement carefully, their flatmates rent too. But, what are the pros and cons of asking for […]

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Freeholders blocking sale of my flat?

2nd May 2023

Help! I desperately need to find a way to sell a flat with over a 900 year leasehold. The flat is in a small conversion of 7 flats . The other 6 are owned by a family who all have a share of the freehold. Since I purchased the flat about 14 years ago, we […]

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You must be registered with the Information Commissioner?

2nd May 2023

Hello, I wonder how many landlords are NOT aware that they must be registered with the ICO (Information Commissioners Office) for the Data Protection Registrar. I received my renewal today (£35 yearly). Whether you are a LTD company, partnership or just you, it is almost certain you need to be registered and there are very […]

House prices rise after seven months of falls

2nd May 2023

The UK’s house prices rose 0.5% in April – after seven consecutive months of prices falling, Nationwide reports. The lender says that on an annual basis, prices fell 2.7% in the year to April – but that is a slight recovery from last month’s figure of 3.1%. Nationwide says that the average house price is […]

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Airbnb scam alert? A landlord’s tale of deceit, tenant troubles and growing costs

2nd May 2023

Hello, I am writing to report a situation regarding the leasing of my flat in South West London. I enlisted the services of a small local agency and we eventually found a tenant, a Canadian citizen who visited the property with his girlfriend. Despite my asking price of £1,825, he offered £1,850 and proposed a three-year […]

Over 65s have record £2.6 trillion in housing wealth

2nd May 2023

Research reveals that owner-occupiers who are older than 65 have £2.587 trillion of net housing wealth in homes that are worth £2.735 trillion. The finding from real estate firm Savills shows that most of that wealth – £2.038 trillion – is held by mortgage-free homeowners. For those aged between 50 and 64, their worth is […]

Stephen Henesy: Why Helpthemove can solve a landlord’s utility billing issues

2nd May 2023

If you are a landlord, agent or property manager looking to centralise and automate utility notifications to the council, water and energy suppliers when a tenancy change takes place, then Helpthemove could be for you. Founded by Stephen Henesy in 2014, it is an online platform to effectively manage a property portfolio and help reduce […]

The best service for Landlords who need to sell their properties

28th April 2023

If you’re a landlord who needs to sell their properties and is struggling, keep reading, because we have the best solution for you. No catch, no fuss, we simply know exactly what to do to help you. You need to sell. Whether it’s to pay off a tax bill, cut the rot of mortgages outweighing […]

Rent ‘reality gap’: London’s tenants are paying more than official data suggests

28th April 2023

Renters in the capital are paying 37% or £613 more per month than official statistics suggest, research reveals. The findings from lettings and estate agent, Benham and Reeves say that high demand is pushing up rent prices – and creating a ‘reality gap’. That’s because official figures from the Office for National Statistics (ONS) show […]

Welsh government says landlords need crucial financial help

28th April 2023

The Welsh government has acknowledged that landlords will need financial help to improve their rental homes to meet energy efficiency targets. The announcement comes after all 29 recommendations of the Senedd’s Climate Change, Environment, and Infrastructure Committee’s report on the decarbonisation of the private rented sector, either in full or in principle. Among the issues […]

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Holiday lets and HMRC rules?

28th April 2023

Hello, Does anyone here understand the rules surrounding extended lets of 31 days plus, please? Here is the Gov link: The letting condition. In one paragraph it states this: The pattern of occupation condition If the total of all lettings that exceed 31 continuous days is more than 155 days during the year, this condition is not […]

property prices, rents,

Rents hit new high – but record growth is slowing down

28th April 2023

Tenants are faced with rents hitting a new record high with renters outside of London now spending an average of £1,190, Rightmove reveals. The platform says that rents have risen for 13 consecutive months, but the pace of growth is now slowing down. However, average rents in London have hit a new record by soaring […]

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Unreasonable leaseholder refusing to pay towards ‘Major works’?

28th April 2023

Hello – I was hoping someone could help me and stumbled upon this site. We have a share of freehold of a small Victorian house – there are 4 flats and we own 2 – 50% of the freehold. We have the obligation to repair/redo the house every 7 years – and we’ve passed that […]

Rent price increases easing

Revealed: Cheapest place to rent in the UK

28th April 2023

Average monthly room rents in London now cost a staggering £952, according to a flatshare website. Spareroom reveals that nearly a quarter (23%) of UK renters have been priced out of the area they were living in in the last six months. Nearly half (48%) of these have had to move in with flatmates in […]