The government’s decision to clamp down on the £21bn housing benefit bill has sent shockwaves throughout the private rented sector. From next April, housing benefit will be capped at £400 per week for a 4+ bedroomed property, £340 for a 3-bedroomed, £290 for a 2-bedroomed and £250 for a 1-bedroomed. The cut is aimed to […]
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There’s been much debate and banter in the news in the run up to 22nd June about the Chancellor’s economic strategy regarding the emergency budget. Yesterday, laying facts to all the conjecture, George Osborne delivered his emergency budget. · The controversial CGT hike, which was first proposed last month at an intended increase to 40-50 […]
Read MoreJust as Samantha Cameron is busy remodelling in Downing Street, it appears her husband’s party and his coalition partners are also busying themselves with a clear-out of their predecessors out worn policies. Since the election in May and the appointment of Grant Shapps as Housing Minister and his ‘age of aspiration’, the PRS has seen […]
Read More‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ There’s some good news this week for the PRS in England and Wales, as Housing Minister, Grant Shapps announced the scrapping of any intention for a national landlord register. In response to Labour’s landlord register scheme, Shapp’s decision to ditch the register was due to his view that such a scheme would not encourage […]
Read More‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ If only evictions were as easy and straightforward like the ones on Channel 4s Big Brother. Although most evictions are due to rent arrears and none payment of rent, there is still a number of landlords who serve notices due to nuisance tenants. Last year one landlord issued an eviction notice on 2 tenants […]
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Why Landlords Always Read Repair Requests Carefully This post offers a welcome moment of levity for landlords at a time when the sector is facing uncertainty and pressure. Against the backdrop of an upcoming budget and widespread industry concern, it shares a collection of unintentionally humorous extracts from real-life tenant correspondence. The examples highlight how […]
Read MoreThere is always the odd, undesirable hard to let property that becomes the bane of a landlord. The one that was bought when an area seemed reasonable, but has since gone to the dogs. Selling the property becomes out of the question as any sane buyer wouldn’t touch it with a proverbial bargepole. The temptation […]
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As we await expectantly for the dreaded ‘B’ day on the 22nd this month, those of us in the private residential sector can only speculate on the controversial hike in capital gains tax. George Osborne is aware he could face rebellion from Conservative MPs, should he raise Capital Gains Tax more than 25 per cent. […]
Read More‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ While much is said about a possible landlord register being introduced in England to crack down on rogue landlords, it’s a pity that one can’t be set up to protect landlords from rogue and violent tenants. Last month, it was revealed that one woman made a career of renting houses from unsuspecting landlords. Once […]
Read MoreScotland’s Government has been urged to review its landlord registration scheme. Since the register has been introduced in January 2007, not one landlord has been prosecuted for failure to register with the scheme. Alex Neil, Housing Minister in Scotland stated that in excess of 1,200 notices have been issued by the end of March this […]
Read MoreResidential rental arrears have had a massive negative impact on private landlords in the UK. The introduction of the policy by the then Labour government in April 2008 for LHA payments to go direct to the tenant, rather than the landlord has had a detrimental effect on the private residential sector. Pre-election, the Conservative […]
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LforL’s Winning Franchise With rents fast approaching their 2007 peak, and private residential property in much demand, landlords are now looking to increase their portfolios. The PRS is becoming a growth industry, through lack of consumer mortgages and social sector housing. The industry sectors supporting and supplying services to letting agents and landlords are rapidly […]
Read MoreIt’s been an uneasy period in the UK for Landlords and Letting & Estate Agents this year, while we await news on the PRS industry following the elections last month. As the HIP packs have been abolished, the UK has seen a raised increase of houses coming onto the market as owners initiate sales. The […]
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Arguments regarding the controversial hike in Capital Gains Tax were being taken ‘carefully into consideration’, said Prime Minister David Cameron yesterday. Indicating a tapered increase, Cameron promised to listen and consider the advice of his fellow Tory backbenchers. The CGT hike, which was promised in the coalition agreement to raise it in line with income […]
Read More‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾ Despite the unstability of the UK property market, PRS is fast becoming a growth industry. Rents are still rising, regardless of uncertain economic conditions. Annual yields appear to have increased within the private residential sector to nearly 5 per cent from last year. Rents are now approaching their 2007 peak, with a rise in […]
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