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11
Feb
2010
The "worryingly high" level of tenants' rental arrears could see a number of residential landlords default on their mortgage, one industry body has warned.According to the Association of Residential Letting Agents (ARLA), despite a monthly decrease, more than half of its members have reported an increase in the number of tenants that are "struggling" to meet their rental demands.
Continue reading "Tenant arrears could mean landlord mortgage defaults"...
9
Residential landlords, who may be looking to redecorate their properties in order to attract new tenants, have been advised to go for a black and white theme this year.Carolyn Trevor, interior designer to the stars, has advised that teaming "dark and dramatic" shades together is "the look for 2010".
Continue reading "Landlords urged to go black and white"...
8
Dec
2009
Changes to how the Local Housing Allowance operates have been urged by the National Landlords Association (NLA).The organisation, which represents the interests of people letting out their properties, said that the payment system is causing problems for landlords.
Continue reading "Landlords want change to Local Housing Allowance"...
Landlords have been advised to check whether their tenancy deposits are being managed correctly.The call came from rent collection firm Landlord Assist in response to news of cases of homeowners having to pay back deposits they are not required to.
Continue reading "Landlords urged to review tenancy deposits "...
7
Residential landlords could be seeing tenants vacate their properties to get away from neighbours, new research has suggested.A recent survey by Abbey Mortgages revealed that 95,200 people have moved home in the last two years to get away from their neighbours.
Continue reading "Thousands move to get away from neighbours"...
3
Residential landlords are set to benefit from improved rents as more "accidental landlords" take advantage of house prices and leave the lettings market, it has been suggested.The number of rental properties on the market has decreased for the first time since January 2008, according to the latest quarterly survey by the Royal Institute of Chartered Surveyors (RICS).
Continue reading "UK rents set to rise"...
19
Nov
Residential landlords in Coventry, who suspect illegal activity may be taking place in their properties, are being urged to "shop dodgy tenants".West Midlands Police have written to 2,500 people, who rent out properties in the city, encouraging them to take part in scheme called Tenant Watch, the Coventry Telegraph reported.
Continue reading "Landlords urged to turn in "dodgy tenants""...
The Property Ombudsman (TPO) has expelled a London-based estate agent who failed to safeguard a tenant's deposit or pay compensation.Global Realty, which has two north London offices, has had its membership to the ombudsman scheme revoked after failing to comply with a £1,600 award decision.
Continue reading "Agent fined over deposit issues"...
18
More than a quarter of residential landlords reported decreased or stagnated revenue during the third quarter of the year, new figures have shown.Almost 25 per cent were found to either be making a loss or struggling to break even, according to the latest quarterly report from research agency Business Development Research Consultants (BDRC).
Continue reading "Landlords' revenues continue to fall"...
The National Landlords Association (NLA) called on the government yesterday to raise the tax threshold on its rent-a-room scheme.Under current regulations, landlords who let out spare rooms in their homes are entitled to £4,250 of tax-exempt earnings.
Continue reading "NLA calls for threshold increase"...
10
Buy-to-let landlords in Brentwood are benefiting from increased property sales, according to estate agents in the area.An increase in property sales in the borough has lead to less rented accommodation being available on the market.In turn this has meant that landlords have been able to put up rental rates and increase profits.
Continue reading "Brentwood landlords see rental increases"...
A recent boom has been reported in the market for letting rooms to workers in need of affordable weekday accommodation.The growing trend of people renting affordable rooms throughout the week, as opposed to making a long daily commute, is producing a huge impact on the buy-to-let sector, the Daily Mail reported.
Continue reading "Weekday rents 'untapped source' for buy-to-let landlords"...
6
Landlords showed "renewed" confidence in their industry during the third quarter of 2009 in a new study. Findings from Paragon Mortgages' PRS Trends report revealed that many landlords anticipate the value of their portfolio will increase during the next 12 months.
Continue reading "Landlords show "renewed" confidence"...
4
Landlords who let homes of multiple occupancy (HMO) were reminded of the importance of licensing this week (Monday November 2nd), after a Brighton landlord was fined more than £1,200.HMO licences have been required by landlords since 2006, and under the Brighton and Hove City Council scheme, can last for up to five years.
Continue reading "Brighton landlord fined over HMO licence"...
2
An increasing number of landlords and letting agents are using video evidence in tenancy disputes, according to one deposit protection organisation.Up to five pieces of video evidence per week are now be submitted to the online dispute service of mydeposits.co.uk, a government-approved scheme.
Continue reading "Landlords turn to video evidence"...
30
Oct
The number of homeowners reluctantly letting out properties has fallen for the third quarter in a row, according to figures from the Association of Residential Letting Agents (ARLA).Six in ten of the organisation's members reported property being rented out rather than sold between July and September.
Continue reading "Decrease reported in "reluctant landlord" numbers"...
Rents in the UK have risen by almost three percentage points in the last two months following an increase of 1.2 per cent in September, a new report has shown.London and the south-east proved to have the strongest growth with increases of 4.5 and 6.5 per cent respectively.
Continue reading "UK rents on the rise"...
15
Residential landlords on the south coast will be able to learn about their expectations and responsibilities during a meeting later this month.Gosport Borough Council is hosting its Landlord's Forum on October 22nd, which will allow those involved in residential lettings to ask questions about any issues they are unsure of, the Southern Daily Echo reports.
Continue reading "Landlord's Forum to get underway in Gosport"...
Residential property owners in Loughborough wanting to know more about landlords insurance can attend a free advisory surgery later this month.Charnwood Borough Council is hosting the event at its offices in Southfields Road on October 26th between 16:00 and 18:00, inloughborough.com reports.
Continue reading "Landlords insurance information to be made available in Loughborough"...
The importance of taking out appropriate landlord insurance has been highlighted by one property expert.Speaking to the Liverpool Echo, Zoomf's Katie McLoughlin said that property-related problems, albeit small ones, are inevitable "regardless of the size of their property portfolio".
Continue reading "Importance of landlord insurance highlighted by expert"...
14
More than half of property experts have seen a "significant improvement" in the way in which investors view UK property investment conditions over the past three months.This is according to Reita's Property Investment Perspective, which showed that this is true among 54 per cent of those surveyed.
Continue reading "Conditions good for landlords looking to expand portfolios"...
Being a homeowner for increasing numbers of younger people has become an unrealistic expectation.This is according to Steven Hilton, spokesperson for the National Landlords Association, who was responding to new research revealing that the average age of those renting accommodation has risen.
Continue reading "Owning a property an 'unrealistic expectation' for many young adults"...
13
Portfolio values are expected to increase over the next 12 months for landlords, a development that could see demand for landlord insurance to increase.Paragon Mortgages latest quarterly survey has revealed that landlords expect, on average, a 0.8 per cent increase in the value of their portfolios during the next year.
Continue reading "Landlords hopeful of higher portfolio values"...
12
Increasing numbers of landlords could experience a rise in property activity following the publication of new research.Abbey Mortgages has found that those looking at buying a property in the capital would be better off renting.It was revealed that the 187,000 people looking to get on the property ladder in London would be £466.19 worse off each month if they chose to buy as opposed to rent because of continued high prices in the capital.
Continue reading "Landlord insurance set to be in demand in London"...
Individuals letting a property have seen the average age of tenants increase during the past three years.According to research by Spareroom.co.uk, the average age of a tenant is now 28-years-old, which is up from 2006's average of 25-years-old, the Press Association reports.
Continue reading "Landlords see average age of renter increase"...
Landlords need to get their finances in order to make sure that their property investment are a success.That is the view of Mortgages for Business, which has called for more professionalism within the sector.Financial considerations for landlords include arranging let property insurance, sorting out mortgages and deciding whether or not to look for and purchase new homes.
Continue reading "Landlords should 'get finance right'"...
5
House prices increased by 0.9 per cent in the UK last month, new statistics have shown.Research from the Nationwide Building Society revealed that during September property rose in value for the fifth month in a row.The organisation claimed that home prices have increased by 4.1 per cent in 2009 so far, though they are still 13.5 per cent lower than at the peak of October 2007.
Continue reading "House prices on the rise"...
More housing needs to be available in the rented sector, a property website has claimed.According to upad.co.uk, there needs to be action from the government to help stimulate growth in the marketplace.A combination of economic factors and social issues has resulted in more potential tenants, which in turn provide more opportunities for landlords.
Continue reading "More rental homes needed"...
29
Sep
There has been a rise in demand in the rental market for the first time since the start of the recession, new statistics have shown.The Association of Residential Letting Agents (ARLA) indicated that the rental sector is stabilising and more new tenancies are being agreed.
Continue reading "Rental market demand rises"...
23
Rent prices in several regions of the UK are on the rise, according to new statistics from Gumtree.com.The website has indicated that landlords in cities such as Birmingham, Leeds, Oxford and Glasgow have all seen average rents increase.
Continue reading "Regional rental prices rise"...
Many people are choosing to rent properties rather than trying to buy a home while the market is not in their favour, an expert has claimed.Yolanda Barnes, director of research at Savills, has explained that the rental market is offering good short-term opportunities for people used to owning homes, as well as long-term benefits to others.
Continue reading "People 'renting until more choices available'"...
Conditions within the UK housing market are steadily improving, according to property experts.Smiths Gore has suggested that there are still good opportunities for people looking to buy new homes.This is in part due to the relatively poor state of the housing sector, with the property consultants explaining that a weak market offers better value for money for shrewd investors.
Continue reading "Property market 'moving ahead'"...
Both landlords and tenants have a responsibility to ensure that deposits are secure and systems are in place to ensure both parties are satisfied.That is the view of the Tenancy Deposit Scheme, which has noted that many people are trying to find rented accommodation at the moment.
Continue reading "Joint responsibility for deposits"...
People with landlords insurance will see the property market "kick-start" in spring 2010, it has been suggested.Jane Marr, company director at the Little House Company, said that although prices were rising at the moment, the "real" increases would only be seen next year.
Continue reading "Property prices 'to shoot up next spring'"...
26
Aug
Landlords have been urged to maximise the rental potential of their properties but making minor adjustments.ServiceMaster has called for homes to be spruced up this summer in order to gain an edge over the competition and secure new tenants.
Continue reading "Improve 'rental potential' of homes"...
24
Tenants that can be relied on by landlords are worth keeping - even if the rent they are willing to pay is slightly less than other people.That is the view of Marc Lockley, who suggested that receiving payments on time and in full is more valuable to landlords than charging more rent but being fraught with problems.
Continue reading "Good tenants 'worth more'"...
People renting property for the first time have been given advice by a government-approved tenancy deposit protection service.According to mydeposits.co.uk, people entering the rental market need to know the rules in advance regarding privacy, money and deposits.
Continue reading "First-time renters get advice"...
The government has been called upon to intervene in order to stop house prices from increasing to unpractical levels.PricedOut.org.uk has suggested that home values will become more reasonable over the next few months.However, the affordable property campaign website indicated that action must be taken to "prevent a future boom in house prices".
Continue reading "Government urged to act on house prices"...
20
Jul
The UK housing market crash may not yet be over and properties could continue to fall in value next year, according to an influential commentator.A new report from PricewaterhouseCoopers (PwC) has suggested that, despite "green shoots" in the property market, prices could still fall in 2010, although at a slower rate than has been seen over the past year and a half.
Continue reading "House prices 'could fall further in 2010'"...
Young people are increasingly choosing to rent properties because of the financial downturn, according to an expert.Jon Brown, partner relationship manager at iammoving.com, an online change of address service, explained that many young adults are finding it difficult to get on the property ladder, with mortgage availability low and fears of redundancies high.
Continue reading "Young people taking "more positive" view on renting"...
Landlords across the country are losing out because of a change to how the government pays benefit to private tenants, according to a report.A number of buy-to-let investors spoken to by the BBC said that the new scheme, where tenants rather than landlords receive rent payments from the government, is leading to unscrupulous behaviour.
Continue reading "Tenants on benefits 'not paying'"...
Boris Johnson, the mayor of London, has backed plans to invest in the rented sector on a large scale.Upon launching the new London Housing Design Guide consultation, he explained that he is "keen to attract institutional investment into rented housing in London".
Continue reading "Mayor backs rented housing plans"...
The chief executive of the RSA has called for a change of attitude towards rented accommodation.Matthew Taylor, writing in the Times, explained that the British psyche has for too long equated property ownership with success.He said that people should feel no shame in renting, given that the recent property market crash has indicated that houses may not be as safe an investment as people think.
Continue reading "Expert touts rented accommodation"...