Page 408 – Property118

Why sell the geese that lay the golden eggs?

14th February 2022

After implementing the strategies recommended by our Property118 Tax Consultant my husband and I were asked to leave a Testimonial comment. However, just a few short sentences were not enough for me, so I have decided to submit this Readers Question instead. First though, I think a bit of background is in order. When we […]

227,000 new private rented homes required per year to meet government targets

14th February 2022

The UK needs almost 230,000 new private rented homes a year to meet government housing targets across the UK, according to a new report by the economics consultancy, Capital Economics. The report, commissioned by the National Residential Landlords Association, observes that Government targets would amount to the need for 340,000 new homes a year across […]

Homes for 2,900 rough sleepers

14th February 2022

Rough sleepers across the country will be supported off the streets and into long-term homes with £174 million funding boost, the Department for Levelling Up, Housing and Communities has announced. The funding, which forms part of the government’s Rough Sleeping Accommodation Programme, will create over 2,900 move-on homes between 2021 and 2024 as part of […]

Could tenant provide their own referencing/credit check info?

14th February 2022

Is there anything stopping you from asking your prospective tenant to do their own credit referencing etc. and give you copies of the details? Wouldn’t this take away the cost and time of the landlord searching for this info and speed up an application? With competition so rife for rentals, surely the best candidate who […]

Verbally abusive tenant refuses rent increase on renewal of AST?

14th February 2022

I have a very difficult and combative tenant who is quibbling over my proposed rental increase of just over 3%, at the lower end of current increases. After verbally abusing me, he is now trying to negotiate. I met him halfway in the negotiations and have suggested an increase of just under 3%. He has […]

New HMO Article 4 announced while HMO is being built?

14th February 2022

What do you do if an Article 4 is announced before you have built your HMO? A popular HMO Article 4 question we get asked a lot is while your HMO is under construction, we are regularly asked “How does an Article 4 affect my proposed HMO.” We are back again with Linda Wright, who […]

Pie Shop Conversion Creates £1 Million Price Tag

11th February 2022

When you convert a commercial building to residential use under permitted development rights (PDR), how much will that residential property be worth? £100,000? 500,000? perhaps a £1,000,000? Yes, a pie shop to resi conversion is actually worth a million pounds. Today I’m joined by Andrew Roberts to discuss whether this may be a conversion too […]

Shelter warns of cost of living consequences

11th February 2022

Shelter warns in their latest press release that more renters are likely to get into financial difficulty in the coming months as living costs continue to rise. New government figures show that 14,123 landlords in England started court proceedings to evict tenants from their properties between October and December 2021, up by 43% on the previous quarter. Shelter […]

Housing Association flat that does not allow subletting?

11th February 2022

Hi, I have a young member of staff who purchased a flat in a housing association block of flats. He did not realise that when purchased, he could not sublet. Has tried to sell his flat and the purchaser wants the right to sublet! The other flats are all the housing association’s tenants! It seems […]

In a pickle and need legal expertise?

10th February 2022

Got a strange situ here – I have 2 licensees who originally rented 2 rooms in a shared house. Then they got together. The other 2 licensees moved out before Christmas and these remaining 2 asked if they could rent the whole house. I agreed reluctantly as they’ve been a pain with late payments and […]

Agent didn’t protect tenant deposit and now in liquidation?

10th February 2022

Hi everyone, I may be in a bit of a situation. I have an agent who I have used for one of my properties who it looks like took a 3k deposit from tenants, didn’t protect it, and are now about to go into liquidation… The AST contract signed with the tenants is between them […]

Increased demand from renters mismatching a fall in supply

10th February 2022

Demand from tenants in the rental market continued to rise, according to a net balance of +64% of respondents, representing the strongest on record since 1999, whilst landlord instructions remained in decline according to -15%. Given this ongoing mismatch between tenant demand and property supply, a net balance of +59% respondents said they expect rents […]

Energy rebate/loan questions for student accommodation?

10th February 2022

OK so in October every house using electricity will get a £200 rebate (loan by stealth) then it has to be paid back over 5 years. The information says that if someone shares and moves to a new property they don’t take a share of the £200 loan, they take all of it. In a […]

Stamp duty trap transferring property back into sole name?

10th February 2022

Dear All, I am trying to re-mortgage a leasehold flat as my current deal has moved onto an SVR. The flat is jointly owned with my wife (as a Tenancy in Common with the intention of my share being 99% and my wife 1% – however, we never did create a Deed of Trust to that […]

HMO tenant vanished?

10th February 2022

I hope someone can help me after I issued a section 8 about 3 weeks ago. I have had no reply from the tenant, who is also 3 months in arrears with their rent. I visited the room in the HMO property today, but no one seems to have seen him in over a month. His […]

NRLA want councils to use all of the powers at their disposal

10th February 2022

New research published by the National Residential Landlords Association (NRLA) reveals that a majority of local authorities in England do not accurately record the number of private rented sector tenure complaints that they receive. These NRLA findings, based on Freedom of Information Act requests, indicate that, in all, 56% of councils do not accurately record […]

Belvoir CEO warns of continuing rental increases in 2022 and beyond

9th February 2022

Belvoir’s rental statistics reveal the highest rental increases since records began in 2008. Belvoir CEO Dorian Gonsalves warns of further challenges to come, as years of flawed government policies continue to impact the market, resulting in stock shortages and high tenant demand. “Taking into account that most of our offices are outside the London area, […]

89% of local authorities built zero council homes in 2021

9th February 2022

Using the most recently published data by the Department for Levelling Up, Housing and Communities, Admiral Home Insurance analysed which parts of England have seen the most and the fewest new homes being built. With a shortage of housing for many years in England, and unaffordability continuing to be a neglected issue, Admiral’s analysis reveals […]

EPC targets are a threat to the PRS

9th February 2022

Specialist Buy to Let and commercial bank Shawbrook has released a report concerned about the threat to the rental market posed by a future C rating EPC target. Click here The headlines of the report indicate that 23% of landlords surveyed say the EPC ratings of their properties are currently D or below and that […]

Shuffled in – Yet another new Housing Minister

9th February 2022

In a very minor Cabinet re-shuffle, Chris Pincher was replaced by Stuart Andrew MP for Pudsey as Minister of State (Minister for Housing) in the Department for Levelling Up, Housing and Communities. Stuart is what could be termed as an accidental landlord with a house in Leeds let for over £10,000 a year recorded in […]

Lendlord logo representing property finance and landlord tools.

Free Financial Management Software for Landlords from Lendlord

8th February 2022

Lendlord is an online platform that helps landlords (with and without letting agents) to optimise their property investments with the following features: Document Management Securely store all your property details and documents in the cloud, set up custom views, filter your portfolio by ownership type (company/private) and different owners and export the relevant data for […]