Property panel experts to tackle landlords’ tax problems

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Following monumental changes in the residential property lettings industry in the recent budget, Nottingham will be playing host to one of the biggest ‘Ask the Experts’ events at the East Midlands Landlord & Letting Agent Expo on 5 May. East Midlands Property Owners (EMPO) is hosting the FREE event at the Nottingham Belfry Hotel and […]

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View Full Article: Property panel experts to tackle landlords’ tax problems

Scandal of empty homes at heart of RLA’s London campaign

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The scandal of ‘buy-to-leave’ investors denying Londoners the homes they need is at the heart of the RLA’s mayoral election campaign, with representatives lobbing candidates in the capital ahead of next week’s election.

Almost 57,000 homes in the capital thought to be lying empty and the RLA is in the city, demanding the next Mayor of London to use powers available to ensure they are brought back to the market – for sale either to landlords who want to offer properties to live in or would-be home owners.

According to an analysis by the accountants PwC, around 60 per cent of Londoners will be in private rented housing by 2025. The RLA is calling for the new Mayor to work positively with landlords to ensure that these homes are safe, legal and secure by encouraging good landlords to develop new homes.

Commenting, David Smith, Policy Director for the Residential Landlords Association, said: “With access to decent and affordable housing the number one issue in London, it is a scandal that so many homes lie empty as investors wait to sell them off for a profit.

“The next Mayor needs to use all the powers they have to stamp out this practice, and encourage good, decent landlords to provide the homes to rent Londoners need.”

The association has launched its own manifesto-  Landlords4London, outlining the key issues facing PRS landlords and how the successful candidate can support the sector, which is vital when it comes to housing London’s burgeoning population.

In addition to addressing buy-to-leave, London Campaigns Coordinator Ryan Buckley is now in the city lobbying the candidates on other issues the RLA believes should be priorities for the successful candidate including discouraging rent controls, encouraging better enforcement, boosting supply and introducing flexible tenancies.

He has held meetings with Sadiq Khan and Caroline Pidgeon’s campaign teams as well as representatives from across the London boroughs and will continue to campaign in the city post-election.

The RLA is robustly opposing any plans to introduce rent controls on the basis they will reduce the supply and quality of private rented accommodation, at the same time encouraging the successful candidate to look at better enforcing existing legislation to tackle criminal landlords.

Alan Ward, RLA Chairman said: “The Private Rented Sector is a vital provider of housing in the capital, with a huge shortfall in the social housing offer and spiralling house prices.

“After the hammering buy-to let landlords have taken at the hands of the chancellor we want the successful mayoral candidate to recognise the essential role these landlords play in tackling London’s housing crisis.”

To visit the RLA election website click here.

To read the Manifesto click here.

… LandlordZONE.

View Full Article: Scandal of empty homes at heart of RLA’s London campaign

Top Eight Places To Invest In London

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Where should you invest in property in 2016?

Acton

Crossrail – Europe’s largest infrastructure project – isn’t actually due to launch until 2018, but the new railway is already creating hotspots along its route. We expect property prices in Acton to have risen by up to 20% by the time the east-west line is complete.

A £50 billion high speed rail line (HS2) is also being built at nearby Old Oak Common, connecting the HS2 line to Crossrail and the Great Western Main line, and providing opportunity for regeneration of the area. This regeneration and infrastructure improvement will undoubtedly have a positive effect on the surrounding areas, and further push up prices in Acton.

Tottenham Hale

Tottenham Hale is fast becoming a first-time buyer haven. It is one of London’s most affordable areas, (a 1 bedroom property would cost around £300,000 or £1,400 per month), it’s being smartened up through regeneration, and the area is blessed with great transport links.

But the main reason Tottenham Hale is enjoying hotspot status is because it’s undergoing a transport revolution, with £110 million being invested in a new Tube, rail and bus station. Tottenham Hale is also on the preferred route for Crossrail 2, which if granted, could see property prices rise by a further 10%.

Archway

Archway is still relatively cheap when compared to its north London neighbours, but we expect prices to increase by at least 5% this year. This is because TFL have recently begun a £12.8m radical transformation on the area, removing the one-way system and replacing it safe cycle lanes, improved pedestrian crossings and a new public piazza.

King’s Cross

King’s Cross has transformed into a hub of commercial and cultural activity in recent years, due to considerable rejuvenation and a large number of investment projects taking place in the area by the station.

Property prices are beginning to reflect the area’s increasing popularity, and flats in the recently completed Plimsoll Building are selling upwards of £1,400 per square foot, which is a record high for the area. This is also having a positive ripple effect on the surrounding areas: Caledonian Road, Angel, and Bloomsbury.

There are still many opportunities to invest with a view to solid capital growth during the next 5-10 years as further projects are completed, including Google’s headquarters, the large Francis Crick Institute medical research centre and various other head offices for well-known brands such as New Look. We also anticipate that the demand from professional tenants for high quality housing in the local area will sky rocket as a result of the new jobs generated.

Elephant & Castle

Elephant & Castle is currently undergoing a £3 billion redevelopment, which will see the Heygate council estate and the eyesore shopping centre demolished to make way for 1,200 new homes and almost 2,500 new apartments and shops.

We expect property and rental prices to slowly increase in the area as a result of this regeneration, and we also expect the new luxury developments to attract a younger, more affluent demographic to the area.

Oval/Stockwell

Battersea is set to get the Tube, with two new stations planned to be built at Nine Elms and Battersea Power Station by 2020. The longer-term intention is to extend the Northern line to Clapham Junction, which will further increase property prices in the area.

Nine Elms and the new build market in Battersea has taken a bit of a hit recently, possibly as a result of an influx of new builds being offered to the market at once. This is however having a positive outcome for pre-owned homes – specifically anything that’s older than 50 years. The investors who cannot afford the new build stock are buying up the older stock in anticipation of long-term capital growth in the area once the new build projects have been finished.

Despite Nine Elms taking a bit of a hit recently, nearby areas Oval and Stockwell have really benefited from being within close proximity to the regeneration zone. Both areas have fantastic transport links, and have recently seen an influx of new amenities in the form of shops, bars and cafes.

Streatham

Streatham is affordable (especially compared to its expensive neighbours Clapham and Balham), plus it offers great transport links to London Victoria and good schools.

It’s for these reasons that homebuyers are being drawn to the area in large numbers, and property prices in the area are up 10% in the last 12 months. We expect prices to rise by at least 5% in 2016.

Streatham Hill is also fast-becoming a buy-to-let hotspot, and a landlord can expect a high yield of 4.4 per cent in the area. Check out the Portico rental yield map to get an indication of potential rental income at the click of a mouse.

Brixton

Brixton first became popular because it was a cheap alternative to Clapham, but now both renters and homebuyers and are moving here because it’s a fantastic area in its own right. It’s one of the most gentrified places in the capital, jam packed with trendy bars, cafes and restaurants. The average price of a 1 bedroom property in Brixton now sits at £400,000, and we expect prices to rise by a further 5% this year.

Article Courtesy of: Portico

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View Full Article: Top Eight Places To Invest In London

Call of the week – the problem with licensing

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The implementation of selective licensing has caused a massive headache for many landlords across the country, but few areas have had more migraines than London. This week’s case is a perfect example of how it can all go wrong for the landlord.
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RLA victory on Immigration Bill

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Members of Parliament have approved measures that will give greater protection to landlords wanting to evict illegal immigrants.
Changes to the Immigration Bill proposed by the Government and approved yesterday will provide protection for landlords who take reasonable steps in an appropriate time frame to terminate tenancies of tenants in the country illegally.
View Full Article: RLA victory on Immigration Bill

Government denies trying to “kill-off” Buy-to-Let

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Housing Minister Brandon Lewis denies claims that the Government is trying to “kill-off” buy-to-let (BTL) but on the contrary wants to “create a more professional private rental sector and eliminate rogue landlords.” The Minister was responding to claims from ex-Conservative MP and Minister Michael Portillo. Speaking Speaking at the Association of Residential Letting Agents (ARLA) […]

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View Full Article: Government denies trying to “kill-off” Buy-to-Let