Page 334 – Property118

Has the “fairer private rented sector” really been fair to landlords?

23rd February 2023

The Government boasted a “fairer private rented sector” but has it really been fair to landlords? For many landlords, it’s hard not to panic. With the overhaul of the rental rules this year, indefinite tenancies plus not to mention the end of section 21 evictions, hurdle after hurdle seems to be stacking up on top […]

Pic of Robin Hood auditor nottingham selective licensing property118

Auditor says Selective Licensing DOES push up rents and cause homelessness

23rd February 2023

A council’s Selective Licensing scheme has been slammed by an external auditor – just as the council unveils a consultation process to start a new scheme in August – with critics saying the scheme has led to tenants being made homeless but the council says it doesn’t have data on the issue. The audit was […]

Letting agent termination charge landlord contract property118.com

Agent termination charges for landlords?

23rd February 2023

Hello, My agent has doubled the monthly management charges effective 1st March (this is for a fully managed service). I was informed on the 21st February. When I informed them that I will move the management to a different agent, they informed me that there will be a £600 termination charge. Does anyone know whether […]

Pic of terraced street England converting three beds into one bed flats property118

Finding appropriate Lender for a multi let property?

23rd February 2023

Hello, I would be interested to know whether anyone has had similar problems as me in finding an appropriate lender in order to release funds on my multi let property. I recently re-developed my original residential home from a three bedroomed house to two one-bedroomed flats, after a long time and considerable expense the project was […]

Landlord working out service charge demands property118

Service charge demands but no explanations?

23rd February 2023

Hello, I hope someone can give an opinion. A long story short. We own 2 leasehold apartments within a 56 block. Up until now the managing agent serves service charge (SC) demands and we just pay them. However, we are getting fed up with having no explanation to what we are paying for, he won’t supply […]

How tenants can reduce their rents in major cities

23rd February 2023

Research has revealed where tenants in several cities could cut their renting costs by up to half. The findings from Barrows and Forrester highlights that tenants could save by searching for homes to rent in nearby towns. The estate and lettings agent says it has analysed the current cost of renting in six major cities […]

Handing keys for a buy to let over tenant in situ landlord property118

Tenants in situ – Previous landlord does not have Gas/Electric/DPS?

23rd February 2023

Hi All, Just a bit of advice please. I am in the process of purchasing my first buy to let and was expecting the property empty on completion. The agent has now come back and stated that the property is tenanted. The tenants want to stay and the seller wants to sell the property with the […]

pic of old staircase building control access property118.com

Existing outdoor stairs, very steep – access?

23rd February 2023

Hello, We own a mansion block of flats made up of Ground Floor, First Floor and Second Floor flat. The GF flat currently has access to the garden. There are stairs from the FF to the garden, historically we have agreed with FF tenants that the stairs are only for emergency use. Thankfully they’ve never […]

Capital allowances enable commercial property buyers to claim cash back from HMRC

23rd February 2023

A capital allowance claim is a way to offset the cost of certain assets in your property against your taxable profits. In the case study below the purchasers were able to claim £23,950 cash back from HMRC based on unclaimed capital allowances of £66,300 for the following:- Electrical Systems Plumbing Systems Sanitary Systems Telecommunications and […]

black mould in a rented property being cleaned property118.com

Citizens Advice calls for ‘Awaab’s law’ to be extended to PRS

22nd February 2023

A charity is calling for a new law aimed at cracking down on mould issues in social housing to be extended to private housing landlords. Citizens Advice is urging the government to bring regulation of the private rented sector (PRS) in line with social housing after the death of Awaab Ishak. The government recently announced […]

Piggy bank being smashed claiming tenant back rent landlord property118.com

Were you successful in getting back rent?

22nd February 2023

Hello, In cases of eviction, the chances of getting rent owed (plus legals etc) seem remote, but are there any landlords out there who have been successful? “Blood out of a stone” I know, but how do we find out if the ex-tenant actually has any funds, his bank account details etc? Even with a […]

Two-year fixes brought back by Fleet Mortgages

22nd February 2023

The specialist buy-to-let lender Fleet Mortgages has revealed that it has brought back its two-year fixed-rate products for landlord borrowers. The firm also says that it is launching a new range of five-year fixes. Advisers can now access the new 75% LTV two-year fixes which complement Fleet’s existing range of five- and seven-year fixes, plus […]

Built a house in garden remortgage property118.com

Built a new house – now struggling between splitting title and remortgaging?

22nd February 2023

Hello to everyone, I’m new here and pretty fresh in the property world as well. I own a 3 bed semi with a pretty uncomfortable mortgage as my residential house. This had plenty of room in the back garden and planning approved, so I have built a new 3 bed detached house there. Now I’m struggling […]

Affordability for BTL investors bounces back

22nd February 2023

The loan sizes being offered to buy to let investors have bounced back after last autumn’s market contraction, data reveals. According to Mortgage Broker Tools (MBT), an analysis of real cases processed through its research software shows that BTL affordability fell to its lowest level on record last November 2022. That’s when nearly a fifth […]

Hand separating wooden puzzle pieces symbolising a broken contract in an eviction context

Agent requesting 2 months notice on a periodic tenancy?

22nd February 2023

Hello, I’m hoping the Forum can help me. Bit of a different one as the advice needed is for a tenant rather than a landlord. My niece has a periodic tenancy after the fixed term lapsed. In the initial contract, it had a break clause: Break clause 7 months it is agreed that 2 months […]

Portrait of a business leader in suit and tie

Selling homes for £1 is a ‘politically-led housing gimmick’

22nd February 2023

A promise to sell homes that have been empty for a long time for just £1 by Scottish Labour has been slammed as a politically led housing gimmick by a leading property firm. DJ Alexander Ltd, Scotland’s largest lettings and estate agency, said that the announcement by Scottish Labour leader Anas Sarwar at the party’s […]

Net Rental Yields and how to increase them

Rent yields outstrip house price rises

21st February 2023

The UK’s highest average rental yields are in Bradford where they currently stand at a massive 11.06%, according to a new report. Data from debt advisory specialists, Sirius Property Finance, revealed the current average UK rental yield is 4.08%, a 0.19% increase over the past year. UK rental yields have increased by 2.5% over the […]

Landlords selling up take a 30% hit to quickly exit the sector

21st February 2023

One property auction firm says that more than a third (38%) of their current lots are from buy-to-let investors looking to get out of the market quickly. And it claims that some landlords are willing to take a hit of up to 30% on the property’s price just to leave the private rented sector. Online […]

tenant with condensation, mould, damp, landlord, sueing property118

Tenant suing for condensation problems?

21st February 2023

Hello, I have a tenant who is suing me for damp and mould problems. When the tenant moved into the property it was just renovated with a new carpet and painted throughout. The flat is a two bedroom ground floor. She and her three children ages 12, 14 and 10 months – all boys. After about […]

Woman with noisy tenant neighbour landlord issues property118.com

Single occupancy AST installs wife and 2 children?

21st February 2023

Hello, In November 2022 I accepted a new tenant on a 1 year AST. The property is a 2 bed first floor flat in a converted building. He is aged mid 30s (I think of Nigerian origin) and doing a post grad course at a local University. Let via an agent, but I manage. It […]