Page 395 – Property118

Levelling Up and Regeneration Bill gives Councils power over private property

12th May 2022

Government released details of the Levelling Up and Regeneration Bill discloses powers that will be given locally to councils to take control over empty properties, second properties and high streets. This kind of power would seem a slippery slope and includes: New powers for local leaders to run High Street Rental Auctions, where they can […]

Tenant cannot quite raise enough to buy their home?

12th May 2022

Hi everyone, We have a very good tenant of nearly 13 years standing. However, we would now like to sell the house and the tenants would like to buy the property which is their home. The maximum mortgage they can get is about £40,000 or ca. 25% under the market value of the property. I […]

Shelter’s newest attack on letting agents is appalling and childish

11th May 2022

Shelter claims Landlords and letting agents have got away with cutting corners for far too long and have released a satirical video with an agent played by comedian Rory Marshall (see video below) However, Propertymark CEO, Nathan Emerson, responded: “Shelter’s newest attack on letting agents is appalling. Their war on the private rented sector is […]

Government says it will ‘end injustice’ with new deal Renters Reform Bill

11th May 2022

Michael Gove, and the Department for Levelling Up, Housing and Communities, have followed up on the Queen’s speech with exactly what their intentions are for the Renters Reform Bill. Apparently, 21% of private renters live in homes of an unacceptable standard and 22% did not end their tenancy by choice (ignoring the fact this could […]

Guaranteed Rental agency – Can’t get my property back after 3 years

10th May 2022

Back in 2013, we signed a contract with a Guaranteed Rental letting agency for a 3 year period. The contract stated that if/when we wanted our property back (after the 3yr period) we would give 2 months notice, but the actual time taken to return vacant possession could be delayed due to eviction proceedings etc. […]

I am inclined to Ok tenant leaving early before the break clause?

10th May 2022

I rent out an apartment. The initial contract started on February 13th 2021 and the fixed term was for twelve months. The tenant renewed for a further twelve months from Feb 13th 2022. The tenant is now in some difficulty financially and her mother has become unwell and they need to go and live with […]

This is simply not good enough

10th May 2022

Responding to confirmation in the Queen’s Speech that the Government will bring forward its planned Renters Reform Bill to abolish Section 21 repossessions, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “We welcome the Government’s acceptance that reforms to the rented sector need to strengthen the ability of landlords to tackle anti-social […]

Queen’s Speech – Landlord Reactions

10th May 2022

In the State Opening of Parliament, the Queen’s speech (this year given by Charles the Prince of Wales) sets out the laws her government wants to pass and the priorities for the months ahead. For the Property Sector the main headlines are: Her Majesty’s Government will introduce legislation to improve the regulation of social housing […]

New Shelter video attacking letting agents and rental conditions

10th May 2022

Shelter claims Landlords and letting agents have got away with cutting corners for far too long and have released a satirical video with an agent played by comedian Rory Marshall. In the latest press release, Shelter’s ‘research’ also indicates one in six private renters in England (equivalent to two million people) are forced to accept […]

Spare room demand and prices spike

10th May 2022

New research reveals that Sunderland has experienced the biggest increase in rental demand of all the main UK towns/cities. Data from SpareRoom, showed that listings posted on the platform for rooms in Sunderland saw a 165% increase in demand since Q1 2020, with the average cost of a room also rising by 24% from £327 […]

CGT return – Have I got this right and can I use paper?

10th May 2022

My net income for the tax year ending April 2021 will be £20,000 and I expect it to be the same next tax year ending April 2022. However, I now have a vacant property and am considering selling it. I have roughly worked out that after initial purchase costs, legal/agent fees, CGT allowance etc that […]

HMO regulations driving decline in supply

10th May 2022

A constant barrage of regulations, restrictions, responsibilities and Selective Licencing has driven an overall decline of supply in England’s HMO sector by 3% from 511,278 properties in 2019/2020 to 497,884 in 2020/21. These figures come from market analysis performed by Octane Capital. In 2018, the UK government introduced new regulations which insist that a Houses of […]

The Council has no workers?

6th May 2022

My neighbour is a council tenant and is not the best neighbour it is possible to have. Her children have made the fence fall down and that has taken my tenant’s privacy. The fence belongs to the council and as such declined me from putting it back up as it is considered as council’s land. […]

NTSELAT deem Price on Application unlawful

6th May 2022

The National Trading Standards Estate and Letting Agency Team (NTSELAT) has released its opinion, with the collaboration of the Competition and Markets Authority (CMA), on the use by agents of the term price on application (POA) in property listings. The settled decision was that this contravenes consumer protection legislation. This opinion was requested to provide […]

Build to Rent – A good idea or not?

6th May 2022

I am wondering what subscribers think about the new trend of large build to rent developments. I can see the attraction to young people, with communal hubs, IT suites and on-site coffee shops etc. It means that if their own home is the size of a box they can go and hang out in other […]

Deposit friendly decorating ideas?

6th May 2022

The number of people in the UK renting their homes is at a 13 year high and, as a result, the amount of people looking for temporary and reversible interior decorations online has increased by 200% over the last 12 months. Fortunately, there are many ways to decorate without breaking the bank, losing the deposit, […]

Bank of England emblem symbolising decision to hold the Base Rate at 5%

Bank Base rate kicking us when we’re down

5th May 2022

The Monetary Policy Committee have voted by a majority of 6-3 to increase Bank Rate by a quarter-point to a full 1% with 12 month CPI inflation rising to 7.0% in March, around 1% higher than expected in the February Report. This is despite the vast majority of inflationary pressure coming from external global costs […]

Government fuelling rental demand and supply crisis

5th May 2022

The NRLA is warning that government efforts to dampen investment in rental housing are fuelling a supply crisis, hiking rents and making homeownership more difficult to afford. All at the same time data shows demand for rental property is at a record high. Since 2015 the Government has embarked on a deliberate effort to reduce […]