Page 316 – Property118

Landlords enjoy rising rents and plummeting voids

1st March 2023

Landlords in England are seeing rising tenant demand pushing up rents with voids plummeting by an average of 26%, Goodlord reveals. Its rental index shows that rents grew by 1% to hit a four-month high to reflect strong renter demand. And the proptech firm warns that landlords leaving the private rented sector is also a […]

House prices fall for the first time since June 2020

1st March 2023

The UK’s house prices have recorded their first annual fall since June 2020 after dropping by 1.1% year-on-year in February, Nationwide reports. It is also the ‘weakest performance’ for prices since November 2012. Prices between January and February fell by 0.5% – that’s the sixth month in a row – and prices are now 3.7% […]

Landlords opting for fixed rate deals when remortgaging

1st March 2023

More than 75% of landlords expect to opt for a fixed rate deal when it is time for them to remortgage, a survey reveals. The lender Landbay has revealed that five-year fixed rates are still the most popular option for landlords. More than half (46%) preferred five-year fixed rates, however this has fallen from 68% […]

Probe into the ‘consumer rights’ of renters launched

1st March 2023

The Competition and Markets Authority (CMA) has revealed that it is to investigate the consumer rights of tenants and explore what can be done to help landlords and intermediaries to understand their obligations. The organisation is also launching a market study into housebuilding amid concerns that housebuilders are not delivering the homes people need at […]

Landlords deliver a big boost to EPC rated homes in the PRS

1st March 2023

Landlords in the private rented sector (PRS) have reportedly driven a 165% increase in the number of homes that have an Energy Performance Certificate (EPC) rating of A to C. The findings from Paragon Bank show that over the past 10 years, a focus on the energy performance of rented property by landlords has seen […]

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Plagues of pests are the most common maintenance issue for landlords

28th February 2023

Landlords will have to carry out maintenance or repair work on a buy-to-let property 72 times during their ownership – costing them more than £34,000, research reveals. And, according to lettings and estate agent, Benham and Reeves, the most common maintenance issue facing landlords are plagues of pests. The firm says that roofing repairs are […]

Propertymark representative discusses rent control concerns in Scotland

Low public and landlord awareness of boiler upgrade scheme

28th February 2023

The UK Government’s Boiler Upgrade Scheme ‘is failing to deliver’ – and many landlords and agents are unaware of it. The House of Lords’ Built Environment Committee Inquiry has found public awareness of low-carbon heating systems is very limited, and promotion of the Boiler Upgrade Scheme has been ‘inadequate’. The scheme provides grants to cover […]

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EPC and banning Section 21?

28th February 2023

Hello, I know I may be jumping the gun somewhat but if the proposed minimum EPC rules are sanctioned, and also a ban on Section 21 comes into force, what are the likely outcomes? We will be able to evict on EPC grounds? I know it’s a lot of conjecture, but interested in other landlords […]

Home sellers are forced to slash prices to find buyers

28th February 2023

Home sellers are having to slash asking prices in a bid to find a buyer, one house price index reveals. Zoopla says that home sellers are accepting an average 4.5% discount on the asking price – that’s the highest amount in five years. And, as the buyer’s market takes hold, price inflation has slowed down […]

Most tenants want to own – but know this won’t happen in 2023

28th February 2023

A survey has revealed that 83% of renters want to buy their own home but more than 75% believe that they won’t be able to do so in 2023. Unsurprisingly, the main reason for 54% is an inability to save for a deposit. And now the Finbri ‘UK Renters’ Report 2023′ also highlights that 32% […]

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Problems with an alcoholic tenant who is now in hospital?

28th February 2023

Hi, I do 6 monthly checks on my tenant and have never had any issues previously. They have been in my house for 18 months and there are no rent arrears. I have been trying to go around since Nov 2022 to fit a fence panel but kept being cancelled due to covid/illness/funeral/illness again etc. […]

EPC upgrades account for a third of renovation costs

28th February 2023

Landlords might be interested to hear that the cost of upgrading an old property is more than £70,000 – with EPC costs accounting for a third of that bill, research reveals. The Home Builders Federation’s (HBF) says that most potential homeowners are underestimating significantly the costs of doing up an existing property. In a report, […]

Propertymark representative discusses rent control concerns in Scotland

Scotland’s Cost of Living Act has led to rent rises

27th February 2023

Propertymark has told Scottish Parliament’s Local Government, Housing and Planning Committee that the Cost-of-Living Act 2022 has led to rent rises and landlords leaving the private rented sector (PRS). The organisation’s head of policy and campaigns, Timothy Douglas, gave evidence showing that most letting agents in Scotland are seeing landlords continuing to exit the market. […]

New mandatory qualifications will ‘drive up standards’ in social housing

27th February 2023

A crackdown on unqualified social housing managers will see new rules being brought in to protect residents.  The Department for Levelling Up, Housing and Communities (DLUHC) has announced that social housing managers must gain professional qualifications. Around 25,000 social housing managers will now be required to have an appropriate level housing management qualification regulated by […]

Landlords lose out as the UK’s housing wealth hits £8.68trn

27th February 2023

The total value of the UK’s homes reached a new record last year at £8.68 trillion, research reveals. The findings from real estate firm Savills show that house prices saw a 5.1% year-on-year increase and with mortgage debt standing at £1.66 trillion, the net housing wealth in the UK exceeds £7 trillion for the first […]

Rebuild costs for Landlords Insurance are now higher than market value?

27th February 2023

Landlords – How do you calculate your properties’ rebuild value when your insurance is due for renewal? For those who don’t know, the rebuild cost is the amount it would cost to completely rebuild your property if it was destroyed beyond repair. It includes the price of labour and materials. This cost is usually lower […]

Person tearing a rental contract in half, symbolizing landlord licence or tenancy breach.

Ending a 12 months fixed tenancy agreement?

27th February 2023

Hello. I have a situation that commenced last month and I got some good pointers from here. Tenants are on a 12 month fixed contract ending in Oct 2023. However, due to domestic violence (DV), one of the parties wanted her name removed from the tenancy. I organised a meeting with both to discuss their […]

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Non-freehold tenants do not feel safe in their own home

27th February 2023

New research shows that four in 10 non-freehold tenants do not feel completely safe in their homes. A national sample of 2,000 non-freehold tenants was surveyed twice over an 18-month period (from 2021-2023) to assess whether their perception and impression of building safety has changed. Findings from the management software company Zutec revealed that eight […]

My experience of moving to Portugal and the associated tax benefits

24th February 2023

I have been asked to write an experienced based article on the benefits of moving to Portugal for portfolio landlord owners. Whilst I lack the expert tax knowledge of the organisers of this forum at the moment, they have confirmed that I’ve been able to accurately summarise several of the key tax incentives of moving […]

Knight-themed Landlord Crusader logo symbolizing landlord advocacy

Are our MPs the worst hypocrites or are they just clueless?

24th February 2023

As landlords, we face the bizarre situation of being taxed without taking into account loan interest and not on the actual profits that we make – unlike any other business in the country. Making a profit isn’t necessarily a bad thing because we provide a home and have expenses that need to be met when […]

Boiler/heating cover recommendations?

24th February 2023

Hello, I am looking for some advice. I used to have boiler and heating cover for my semi-commercial residential house with British Gas. Now they have closed, I am looking for something similar. Does anyone on the forum have any recommendations? It’s a large house with a domestic boiler but because the pipes are greater than […]