Tag Archives: Newham

Why are Social Housing Tenants Seen As Second Class Citizens? Guest Articles, Guest Columns, Property Market News

As I read my way through developments in the housing world on a daily basis I see increasing reference to perceptions about social housing tenants which seems to be becoming a source of more concern for many landlords.

People have often had negative opinions about that world, but not as serious as the direction it seems to be going. I thought it might follow on from last summer’s riots, I don’t know, but 3 things happened on the same day last week to make me ponder on this more seriously Continue reading Why are Social Housing Tenants Seen As Second Class Citizens?

Letting Unlicensed HMO is a Crime, According to Judge HMO's & Student Lets, Latest Articles, Property Market News

A London council has won a criminal compensation order against a letting company who failed to licence a house in multiple occupation.

In what is believed to be a landmark case, Newham Council claimed rent paid to the company, Sumal & Sons Properties, of Stamford Hill, was a criminal benefit as the property did not have an HMO licence.

A judge at Inner London Crown Court agreed with the argument and awarded £12,000 fines, costs and compensation for rent paid while the property was let without a licence. Continue reading Letting Unlicensed HMO is a Crime, According to Judge

Council wants to invest taxpayer cash in buy to let Buy to Let News, Latest Articles, Property Market News

1 green property amongst a row a red properties

"Councillors want to buy rundown buy to lets"

Councillors want to dabble in property investment by spending millions on purchasing ‘substandard’ buy to let homes.

The plan is for Newham Council, East London, to buy and let the homes to improve housing standards – and to make a killing on capital appreciation as well.

The council is banking on cheap borrowing rates offered to local councils to underpin the scheme, but throw the deal open to private and institutional investors.

The scheme depends on the outcome of financial negotiations with the government ministers. No details of how the scheme would work and how much investment would be needed to refurbish and manage property are not finalised.

Blackpool Council had a similar scheme on a smaller scale that recently failed. The council bought property worth £2.7 million with the intention of renovating and letting them as homes only to run out of money – the portfolio was sold to a housing association for £3.

The council area that has benefitted from investment billions generated by the new London Olympic 2012 stadiums and infrastructure.

Newham has an estimated 35,000 buy to let and houses in multiple occupation (HMOs) and the council claims tenant turnover rates are 60% compared with just 5% for social housing.

Councillors are formulating a social lettings allocation policy that pushes employed people ahead of those on benefits in queues for social housing.

Sir Robin Wales, Newham’s directly elected mayor, told Inside Housing magazine: “It is clear to us that we have to stabilise the private sector or we will just become a transit camp. That’s why we want to invest – there is a logic driving us.

“We want to purchase property in the private sector and run our own private rented sector. That way we can have longer tenure. That is a big issue for me.”

Sir Robin added that buying private properties would increase the council’s options for housing people on benefits.

Repossession hotspots highlight homes at risk Latest Articles

Repossession map of the England

Click image to view

Property owners can check if they live in a repossession hotspot with a new map compiled by homeless charity Shelter.

Researchers plotted repossession data from county courts against council areas to come up with the towns and cities where house and flat owners are most at risk of losing their homes.

Around 45,000 homeowners are evicted every year by banks and building societies – that’s around 125 homes repossessed every day. Continue reading Repossession hotspots highlight homes at risk

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