Nation’s HMOs currently worth 26bn
The combined value of the nation’s HMO market is estimated to be almost £26bn in current market conditions, with London home to by far the most valuable HMO portfolio of all regions, according to the latest market analysis by Revolution Brokers. Currently, there are some 55,849 HMOs operational across the rental market in England. With […]
Bureaucrats not ready yet for rental reform, insists landlord boss
The National Residential Landlords Association has made a blistering attack on a “big bureaucratic and unaccountable beast” at the heart of a rental sector reform programme. NRLA chief executive Ben Beadle makes the outspoken attack on the Rent Smart Wales operation, run by the Welsh Government. The NRLA has received calls from landlords who are […]
Rental market pauses for breath but demand remains high
England’s rental market continued to move at breakneck pace during August, although rental costs and void averages took a month off from their record breaking streak, according to the latest data from Goodlord. Voids were up across the country after July’s historic lows, and the cost of rent dipped fractionally. The average cost of rent […]
Landlords are being driven away from PRS in Scotland, agent warns
Landlords are being driven out of the PRS in Scotland, a letting agent has warned. Riccardo Giovanacci, managing director of Glasgow-based Newton Letting, says the role of landlords is not appreciated. “In the current climate, especially in Scotland, the positive contribution that the PRS makes to the ongoing housing crisis can seem not only to be […]
Wear and Tear clarity would reduce disputes with tenants – claim
A prominent industry supplier says greater clarity over what constitutes fair Wear and Tear would slash the number of end-of-tenancy disputes. The Association of Independent Inventory Clerks says landlords who are unable to distinguish between fair wear and tear and genuine damage are likely to raise disputes; often they may have no record of their […]
Periodic tenancies likely to result in a mass exodus of private landlords
The government’s plans to introduce periodic tenancies are not fit for purpose and will almost certainly lead to a mass exodus of landlords from the PRS, according to Propertymark. The industry body has submitted evidence to the Levelling Up, Housing and Communities Committee’s Reforming the Private Rented Sector inquiry. It warns that fewer homes may […]
Warning to government – reform agenda is WRONG for HMOs!
A network of professional landlords is warning the government that its reform agenda for the private rental sector is plain wrong for Homes in Multiple Occupation. Platinum Property Partners says some measures in the government’s Fairer Private Rented Sector White Paper will have a detrimental impact on shared households, potentially deterring HMO landlord investment and […]
Landlords face large IHT bills due to lack of estate planning
More than one in two landlords with large property portfolios have no succession plan in place, potentially leaving heirs with large inheritance tax bills. Handelsbanken has found that 52% of landlords with more than 10 properties have no longer-term estate management plans, which could force heirs to sell properties to meet these future tax bills. […]
Significantly fewer landlords offering ‘bills included’ tenancies amid surging energy costs
With energy bills for a typical household set to rise to £3,549 a year on 1 October, when a new price cap is introduced, many private landlords are no longer willing to offer tenancies that come with the cost of bills included. According to new research from tenant referencing platform Vouch, there has been a […]
Tie up your landlords’ remortgage needs now
As I write, we are quickly approaching that ‘new school year’ period which often feels like something of a new beginning for the mortgage market, particularly for the next three months which tend to be busy times for all. This year, I suspect, will be no different in terms of activity and demand, although there […]