According to the Royal Institute of Chartered Surveyors, (RICS), latest Residential Lettings Survey, the UK Private Rented Sector (PRS) experienced sustained growth between February and April 2012, with houses in greater demand than flats. 13% of chartered surveyors reported that PRS rents had increased with tenant demand largely responsible for the growth. 15% of chartered […]
The National Landlords Association (NLA) have disclosed that more than half of its landlord members are unable to rent their properties to tenants claiming housing benefit because they can’t afford to allow their properties to be rented at reduced rates, due to the rate caps imposed on the Local Housing Allowance (LHA). The NLA found […]
Showing tenants around the rental property personally is a chance for the landlord to gain a little insight into the people who may soon be living in the rental property, providing that all parties like each other. It is also a good opportunity for landlords to engage with the prospective tenants and listen to their […]
There are fresh fears that First-Time Buyers (FTBs) and next time buyers are being forced out of the UK residential property market by Buy-To-Let landlords. The Council of Mortgage Lenders (CML) said that 32,300 Buy-To-Let mortgage loans were made over the first quarter of 2012, a 32% increase on the first three months of 2011. […]
Not all landlords feel the need to use a letting agent, preferring to handle all aspects of the letting and management of their rental property and tenancy themselves. Landlords and tenants are recommended to use the services of a reputable letting agent, to save time, reduce stress, ensure legal compliance and provide them with professional […]
The latest research by the Association of Residential Letting Agents (ARLA), shows the cost of renting PRS property in the UK finally appears to be stabilising. Despite the huge demand for rental property in many areas of the UK and media reports of rising private rented sector rents as landlords attempted to cash in on […]
Squatting in residential properties is to become a criminal offence in Britain, after the Legal Aid, Sentencing and Punishment of Offenders Bill received Royal Assent this week. As from September 1st 2012, squatting in a private residential property in the UK will become a criminal offence and offenders could face up to six months in […]
Legal4Landlords are celebrating a record breaking 12 months by recruiting extra staff to their Head Office team! The Warrington based specialist landlord services company look set for a turn-over of £2 Million (GBP) this year, following a great deal of hard work by all their staff and franchises. Legal4Landlords have relocated the 25 strong head […]
Mainstream Buy to let mortgage lenders are changing their products and lending policies as they prepare for the new rules to be implemented that will tighten up on the necessary criteria borrowers must meet, causing a stir in the market. The Co-Op Bank announced this week that it was scrapping residential “Interest Only” mortgage products […]
Investing in a specialist landlord insurance policy is something all buy-to-let property owners should do, but it is the one vital area where people mistakenly try to curb their financial expenditure, it has been claimed. The statement comes at a time when a recent Paragon Mortgages report revealed that during the last 3 months, UK […]
Savill’s Estate Agents, have released a report which is sweet music to every UK property investors’ ears: Private Rented Sector (PRS) rents are likely to rise by 20.5% between now and the end of 2016. Additionally, it is estimated that 20% of all UK households will be in the Private Rented Sector, securing growth and […]
The number of properties purchased using Buy-To-Let mortgages increased by 84,000 during 2011, increasing the supply of suitable Private Rented Sector (PRS) housing according to the latest data released by the Council of Mortgage lenders (CML). During the last quarter of 2011 a total of 34,800 Buy To Let mortgages, including 15,600 remortgages, were granted […]
There are scores of the current generation who are already facing the nightmare that is an under-funded retirement. It may appear unfortunate, but more and more people over the age of 60 are beginning to realise that it’s not too late to do something! It must be extremely scary to reach the end of your […]
New Deposit Protection rules are now in force and the deadline for landlords and letting agents for the registration of a tenant’s deposit, for every single tenancy, must be completed within 30 days of 6th April 2012, therefore, the deadline will be the 5th May 2012 This Affects All PRS Landlords If They Have Never […]
More working tenants are attempting to renegotiate with their landlords to try to get their property rents reduced. Many tenants are increasingly struggling to pay their rents on time due to mounting financial pressures, leading to calls from specialists within the lettings industry for more Rent Guarantee insurance products. 41.2% of members surveyed by the […]
Negative equity is not a situation that many professional landlords with Rent Guarantee insurance and good rental yields has to worry about, but for many new or “reluctant” landlords forced to rent out their former homes in order to keep the mortgage paid, it can be a real problem. UK Buy To Let landlords and […]
Landlords in the UK Private Rented Sector (PRS) face a new threat to their livelihood following a ruling by the Supreme Court. UK landlords may be unable to pursue the eviction of tenants who have failed to pay their rent or who have committed anti-social behaviour as a result of the Supreme Court ruling. Hounslow […]
County court closures are being blamed for prolonging tenant rent arrears eviction hearings The number of tenants in severe financial difficulty has climbed by 10.2% in the first quarter of this year according to the latest tenant arrears tracker by Templeton LPA, part of the LSL Property Services plc Group. Almost 8,800 more tenants were […]
The rise in numbers of accidental landlords has accelerated over recent years but now mortgage lenders are beginning to clamp down on the practice. The National Landlords Association (NLA) said the number of would be vendors forced into letting their properties because they were unable to find a buyer has now risen to 7%, (up […]
A large number of private residential properties are being rented out to tenants because the owners have moved out but found it difficult to sell the property on. In fact, according to the Association of Residential Letting Agents (ARLA), many people are choosing to rent out homes they cannot sell. This has led to an […]
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