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Private rented sector hits 10 month high in rent hikes
It’s been revealed that the number of tenants experiencing rent hikes reached a 10 month high in June this year. The amount of tenants seeing rent hikes increased to 35 per cent, up from May’s figure of 28 per cent. This is the highest level of rent increases since August 2017, which saw the same […]
Survey claims 84 per cent of PRS tenants are content with their property
The most recent English Housing Survey conducted by the Government has shown that one in five residents in England now rent through the private rental sector (PRS). This figure has risen significantly since the current survey was introduced in 1996. The report has also shown that the vast majority of tenants within the private rented […]
Rent a room relief test for shared occupancy leads to unnecessary complexity
The UK Government has announced an agreement to retain the current rent-a-room annual relief amount of £7,500. However, a new assessment, named the “shared occupancy test” has also been proposed. The aim of the test is to ensure that landlords renting their spare rooms are able to continue qualifying for the relief. The Association of […]
Landlords given incentives to house the homeless
Landlords are being given assistance in order for them to help people who are at risk of homelessness. The idea has been introduced by Barrow Borough Council, which is offering incentives to landlords such as free gas and electricity checks. As in many other districts, the Cumbrian town has a severe lack of affordable housing […]
New licensing scheme set up to improve standards
A new licensing scheme has been set up for private rental properties in Nottingham in a bid to drive up standards. Nottingham City Council has set up the selective licensing scheme to cover around 32,000 private rental homes across most parts of the city. The aim is to improve conditions for tenants, so that they […]
Is it time to scrap tenants’ deposits?
The idea of scrapping rental deposits has risen again, thanks to a start-up which replaces deposits with an insurance policy. Instead of handing over a deposit of between four to six weeks’ rent, tenants can take out an insurance bond. Typically, this would cost them the equivalent of around one week’s rent. Many tenants would […]
Landlords offered cash to revamp properties
Landlords are to be offered cash incentives to repair and improve rental properties which are under par. The pilot scheme has been launched in Oldham to improve rental stock so that it meets the minimum housing standards. Oldham Council is also hoping the pilot scheme will increase awareness about rental property standards and increase the […]
Get the most of the hot summer rental season
The London rental market is starting to heat up again for the summer. Agency Express said the number of new rentals being listed as ‘to let‘ rose by 22.4% in June, compared to the month before. The volume of properties that were actually ‘let’ increased by 12.3% in the same period. Summer is the peak […]
Mind the gender gap
Women make less money from property investment than their male counterparts, new research has revealed. The gender gap for the UK’s residential landlords shows that male landlords have an average rental income of £24,050 a year. Women make an average of £22,550, according to figures from Knight Knox’s annual landlords’ survey. When the property investment […]
Tenants and landlords let down by rental sector
Insecurity, substandard properties, and rights and responsibilities are among the problems which are letting down the private rental sector, according to a damning Which? report. The far-reaching study shows a wide range of issues which are adversely affecting the rental sector. Both tenants and some landlords had a lack of knowledge about their rights and […]
Supply of rental homes to drastically drop
About 133,000 homes could be lost to the UK private rental sector in the next 12 months, according to new research. The stark figures have been released by the Residential Landlords Association research group, PEARL, after it surveyed 2,600 landlords. It comes as no surprise that tax changes, stamp duty hikes on second homes and […]
Businesses are reaping the benefits of proptech
More property companies now feel that technology will have a positive impact on their business. Traditionally, the property industry has not readily embraced proptech, with some feeling it is a threat to business rather than an asset. But, according to PropertyWeek’s Power of Proptech survey, attitudes are changing. In this year’s survey, 61% of people […]
Fears that rental properties will not cover costs
Many landlords face a bleak future, with fears that their buy-to-let investments will not cover costs or provide them with the finances for a decent retirement. Traditionally, investing in ‘bricks and mortar’ has been considered a healthy option. Property prices are always rising, usually much faster than inflation, and property was seen as a safer […]
Tenants are happy with their rental homes
Most tenants are happy with their private rental properties. One in three has no intention of ever buying their own property. A report by English Housing Survey shows 84% of tenants in the private rental sector are satisfied with their housing. In the social rented sector, the figure is 81%. Private landlords can take the […]
Landlords face long wait to evict problem tenants
Landlords can be waiting as long as four months for bailiffs appointed by the courts to evict their problem tenants. Some regions in the UK have a much higher rate of court claims and evictions than their neighbours. It’s not surprising that London is the capital of evictions, according to the Ministry of Justice figures. […]
Longer tenancies could be bad news for tenants and landlords
Longer contracts are being seen as the way forward for Generation Rent and older renters who are looking for security. Generation Rent need security for work, while older tenants are often looking to stay in a neighbourhood they know or that is close to their family. So offering mandatory three-year tenancies could be seen as […]
Fewer rental properties on the market
For the 21st month running, the supply of rental properties has fallen. The housing crisis appears to be deepening, with the latest RICS UK Residential Market Survey showing the housing market in the UK is very subdued. It forecasts that any improvements regarding new properties coming on to the market will be short-lived. With fewer […]
Build-to-let surges nationwide
The number of build-to-let properties is surging across the UK, with more properties being developed in the regions than in London. It is a close call, but figures from the British Property Federation show there are 62,021 build-to-rent properties in the pipeline, being built or recently completed in the UK regions outside London. In the […]
Lower purchase price is the key to better rental yields
Whilst location is always the key factor when investing in property, prices are a major consideration for buy-to-let landlords too. Average house prices have gone up by about 17% in the UK in the past three years, while average rents have risen by only 4.7% in that period. That means landlords could be making more […]
Landlords urged to get ready for new energy efficiency deadline
Buy-to-let landlords in the private-rental sector are being urged to prepare themselves for the next deadline relating to improved standards in energy efficiency. In April, the Minimum Energy Efficiency Standard came into effect, requiring landlords in England and Wales to ensure their properties had a minimum energy performance of E. The aim of the new […]
Improved housing stock is good for your health
The better the quality of your property, the better your health, according to several studies. Now, a new report by The Independent has revealed that four in ten homes in Britain do not meet the basic requirements for the wellbeing of the occupants. The report says researchers studied measures to improve properties and the effects […]
Landlords taking action against buy-to-let taxes
Buy-to-let landlords are calling for the tax relief changes on their properties to be reversed. Landlord and property investment specialist, Mark Homer, has set up an online petition calling for the reversal of the tax reforms. If the petition gets 100,000 or more signatures, than it will have to be debated in parliament. The government […]
Landlords set their sights on holiday lets
Landlords are likely to switch their investments from buy-to-let properties to holiday lets if the government imposes minimum tenancy leases of three years, it has been suggested. The government has started a consultation process to meet the needs of today’s tenants. With more families with children and older people renting properties, the need for the […]
Landlords could get financial incentives for longer tenancies
Landlords are welcoming ideas to provide tax incentives in return for longer tenancies. The government is looking into a number of options to put in place a three-year tenancy model. With more people renting for a variety of reasons, rather than turning to home ownership for their property needs, more are seeking the security of […]
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