New Buy to Let Data Charts the Rise of Company Landlords
The number of homes rented out by corporate landlords has soured since the government announced scrapping mortgage interest relief for private landlords. The new tax rules phased over recent years allow companies to claim mortgage interest relief as a property...
600,000 Landlords Set to Quit Buy to Let
Hundreds of thousands of landlords are thinking about quitting buy to let due to the increasing time and costs involved with renting out a home. Around 600,000 landlords - just over 40% of the country’s 1.3 million buy to let investors - are thinking about selling up,...
New Faces Take Over Housing in Johnson Minister Shake-Up
Former journalist and TV presenter Esther McVey is Boris Johnson’s new housing and planning minister. She takes over the role from Kit Malthouse. Although she has yet to announce any plans for her job, she has plenty of controversial landlord and tenant changes under...
Understanding the Tenant Fees Act 2019
The Tenant Fees Act 2019 commences from 1 June 2019 and applies to England only (for the time being as it has the ability to extend to Wales). The Act controls what payments a landlord or letting agent may require “in connection with a tenancy of housing in England.”...
Buy to Let Rent Rises Running Out of Steam
Buy to let rent rises are cooling as most places across the country have seen no change in the past two months or more. Average rents were up 1.3% over the year to the end of June 2019, says the Office for National Statistics. But the rate remains unchanged since May...
Uncertainty Takes a Toll on Buy to Let Growth
Buy to let investors are enjoying their best yields and fastest rising rents for years even though government efforts to slow the market and Brexit have taken a toll. Yields are outpacing house prices - hitting a two year high of 4.5% outside London. Meanwhile, rents...
Rogue Landlords Face Naming and Shaming Online
Secretary of State for Communities James Brokenshire wants to name and shame bad landlords by allowing tenants to look at their convictions before they sign a rental agreement. He feels tenants in England should know if they are heading for trouble by moving into a...
Welsh Government Consultation on Increasing Notice Period
Under the Renting Homes (Wales) Act 2016, many things will change when it becomes fully introduced including the replacing of assured shorthold tenancies with “occupation contracts” or more specifically a “standard contract”. In addition, the section 21 notice will...
Consultation on Proposals to Ban Section 21 Published (England)
During April 2019, the government announced an intention to ban the use of section 21 notices for the private rented sector in England. The long-awaited consultation following that announcement has today been published titled “A new deal for renting: resetting the...
Johnson Wants to Make Sellers Pay Stamp Duty
Tory leadership hopeful Boris Johnson wants to make sellers pay stamp duty instead of buyers. He hopes the change could see the Treasury pick up an extra £700 million year as the move would see the first-time buyer exemption scrapped. Johnson has pledged to include...
Health and Safety Revamp Ahead for HMO Landlords
Housing minister Heather Wheeler wants to simplify the health and safety ratings process for houses in multiple occupation (HMOs). She has announced a revamp of the system will start later in the year. The review will cover the Housing Health and Safety Rating System...
Tenancy Builder Updated – Now Includes Break Clause Option
Despite us disliking break clauses greatly (this statement is toned down from our true feelings), it’s one of the most common requests to be inserted into our tenancy agreements. We have therefore given in to the pressure and today, we have updated the Tenancy Builder...
Rents Rising as London Recovers From Slowdown
Buy to let landlords have seen rents rise 1.3% in a year, according to the latest official data. The underlying figures vary across the country. Tenants in England are paying 1.3% more, while those in Wales are paying slightly less - at 1.1%. The figures from the...
EPC Requirement for HMO and Section 21 Notice
For an assured shorthold tenancy in England granted or renewed since 1 October 2015, it is a requirement that in order to serve a section 21 notice, certain prescribed requirements must have been complied with. The prescribed requirements are to provide an Energy...
Over 50s Plan to Unlock Cash Tied Up in Homes for Retirement
The over 50s plan to spend the cash locked in the value of their homes rather than leave the money to loved ones when they die. Just over half say property wealth accounts for a major part of their financial planning for retirement. New data reveals property accounts...
Updated Landlord Handbook and Accreditation Course
A quick note to let you know that we have published an updated version of the Landlord Handbook for England. We are holding off the Wales version until all sub-regulations for the tenant fees ban are published. This handbook is not just available for subscribers to...
High Streets Lose Eight Property Agents a Week
High streets across the country are seeing estate and letting agent branches close at the rate of more than eight a week. New data shows property agents are the third worst business for closing on the high street, behind banks and pubs. In 2018, a net 448 property...
Silver Renters Becoming a Force in Buy to Let
A generation of over 50s is taking to renting either as a lifestyle choice or because they cannot afford to buy a home of their own. These renters live alone (48%), pay an average £1,000 a month rent and live in two bedroomed homes (44%). Property experts at letting...
Deposit Penalty – Multiple Breaches and Limitations
With thanks to NearlyLegal for reporting this one. In Howard v Dalton, County Court at Dartford, 7 May 2019, a couple of interesting points were raised in relation to the penalty provisions where a deposit had not been protected nor prescribed information given...
Watchdog Puts Unfair Leasehold Charges Under Scrutiny
Landlords could be unshackled from paying unfair and costly charges as the competition watchdog launches a probe into how the leasehold property market works. The Competition and Mergers Authority (CMA) fears landlords and other homebuyers are locked into crippling...
Coronavirus Guidance
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