Landlords challenged, but by no means down and out

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Buy-to-Let Investment Returns:

This is the conclusion of recent report. The bi-annual “Rent Check” report from BDRC Continental in collaboration with Allsop LLP is a unique measure of the rents being agreed by landlords for Private Rented Sector (PRS) tenancies across England and Wales. This latest research tracks 1,557 landlords in Q3 and Q4 2016 providing a statistically robust overview of the rental market – it covers 11,595 properties.

The figures obtained for the last six months show a marked uncertainty continuing in the rental market as landlords come to terms with the new taxation and other regulatory rules, and although confidence remains “well below the long term trend”, as recorded by previous Rent Check reports going back to Spring 2013, the Spring 2017 report still projects an optimistic message for the future, showing that despite the obstacles, landlords’ investments returns from buy-to-let are projected at well above alternative investment opportunities:

“In a housing crisis which is not showing any signs of going away, the role of residential investors and smaller scale landlords has been an issue of growing controversy, contention and debate for much of the last 18 months.

“With an increasingly stringent legislative framework, the requirement for additional compliance checks and a worsened taxation position (both on entry with a surcharge in SDLT on second homes and on income via a reduction in mortgage interest relief), the investment motivations and expectations of residential landlords are being fundamentally challenged at a granular and ideological level,” says the report.

The authors make the distinction between “market value” and “worth” to the individual of a particular investment opportunity, given their own circumstances; chiefly the tax band they are in, but also alternative earnings, and other factors such as shared ownership with a spouse etc.

For those landlords in the basic rate tax bracket, tax relief will continue the same for all their mortgage interest payments, thus ‘worth’ will differ between different investors at each tax level.

For comparison and insight the report provides figures for the general mix of property types in the PRS, according to the English Housing Survey, average property values in each region (calculated against gross yields provided).

So, given that landlords are overcoming their doubts and confidence is still increasing in buy-to-let investment, despite the legislative changes, the report’s estimate of future returns for investors in terms of individual ‘worth’ using BDRC Continental and based on Office for Budgetary Responsibility’s (OBR) forecasts for national wage and house price growth, these returns look highly respectable in comparison to alternatives.

The report concludes that private rented housing still has a crucial part to play in solving the UK’s housing crisis. That the emerging institutional build-to-rent sector is encouraging in terms of new supply, but given the scale is unlikely to be sufficient to provide all the quality housing needed across the whole of the UK.

There will, it seems, still be room, depending on individual circumstances, for the small-scale buy-to-let investor who are selectively looking for a safe investments that offer very respectable total returns over the long-term. Indeed, however much home ownership is desirable, with an increasingly flexible and global economy this is not immediately compatible with fewer properties available for rent.

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Vacant on vacation

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Is your tenant jetting off on an extended summer break this year? The experts at Belvoir reveal their ten-step plan to help protect your property while it’s vacant and vulnerable

Lock up lowdown

Ensure your tenants lock up before they leave…

“It may sound obvious but make sure all door and window locks are adequate and fully functioning,” says co-owner of Belvoir Basingstoke Mike Jones.

“At Belvoir Basingstoke we check these at inventory stage when a tenancy begins, making sure there are a sufficient supply of window locks and that they are all working.

“A tenant should have copies of all necessary keys and should be made aware that they are expected to use them.”

Securely stored

Don’t leave it on display… put it away!

“Ensure the tenant knows not to leave valuables on display by doors or windows,” says co-owner of Belvoir Bedford Zoe Bywater. “Small items, which are clearly visible and can be removed easily, may prove tempting to opportunistic thieves.

“It’s advisable that all valuable items should be put away securely where they are hidden from view.”

Night lights

Keep it light and bright… dark corners and shadowy spots are welcomed by would-be intruders.

“A number of the rental properties we deal with have external security lights with motion sensors,” says Mike. “Not only are these a great deterrent for potential burglars, but they are also beneficial for your tenant’s personal security, especially if the property has a dark porch or is situated in an unlit alley.”

Good neighbours

Get a little neighbourly help…

“If you have a good relationship with the neighbours then they can be extremely helpful in creating the illusion that the property is occupied,” says Zoe.

“From opening and closing the curtains and switching lights on and off again, to moving post gathering behind the front door and bringing in the bins, a good neighbour’s help can be invaluable.

“Additionally, if there’s a local Neighbourhood Watch scheme you may wish to register, plus you may want to give the neighbours your contact details and ask them to get in touch if they notice any problems.”

The great outdoors

It’s not just what’s on the inside that counts…

“During an extended empty period for your property it’s also important to protect garages, sheds and outbuildings,” says Mike. “These can house expensive items, such as lawnmowers and other garden equipment, and are often seen as an easier target than the main property itself.

“Make sure a good quality lock is provided for any outbuildings, plus perhaps supply a lock for back gates in order to make entry to the garden more difficult.

“Talk to your tenant about what’s being left on display too and consider covering the windows, perhaps with some hardboard, to reduce visibility… and temptation.”

And, don’t give would-be thieves a helping hand. “Never leave outside bins under a window or next to a garage,” advises Zoe. “Doing so can give a potential burglar easy access to the property.”

Insurance essentials

Has your insurance policy got it covered?

“Having adequate landlord insurance is essential at all times of the year but it becomes particularly pertinent when a property is empty and at its most vulnerable,” says Zoe.

“An insurance policy can help protect your pocket if something, such as a leak, happened which could cause considerable damage if left unnoticed in an empty property.

“Likewise, an insurance policy will be beneficial if a burglary was to occur. Burglaries can be commonplace in the summer months when occupants are most likely to be away.

“Always check your policy documents and read the small print. Some policies may require notification if a property is going to be empty for an extended period of time.”

Read all about it!

Shhh! Don’t advertise that there’s no one home…

“More and more of us our sharing our thoughts, feelings and whereabouts on social media,” says Mike. “However, this is unadvisable when on holiday or during an extended break. Uploading photos of landscapes and landmarks while you’re away is advertising that no one is at home, potentially providing an easy invitation for break ins.

“If your tenant is active on social media, perhaps chat to them about this and ask them to wait until they return before uploading their holiday memories.”

Zoe agrees and adds, “It’s important to be cautious about what is revealed on social media. Posting photographs of expensive equipment and valuable items that are kept at the property, for example, is not advisable.”

On time

Time it right with useful light timers…

“Providing light timers for the property can also be helpful in the fight against holiday crime,” continues Zoe. “These are small gadgets that are fitted to plug sockets and can be set to switch lights on and off while the property is unoccupied.

“However, be aware that if your timer is coming on and going off again at the same time each day this could signal that no-one’s home to a potential burglar who may have been watching the property for a few days.”

Be alarmed

Are your fitted security features fully functional?

“If the property has a burglar alarm make sure this is working correctly and that your tenant knows how to use it and has a copy of the manual,” says Zoe.

“The code should be a sequence that isn’t easy to guess, plus it’s also important to ensure that the code is changed regularly, particularly between outgoing and incoming tenants.

“Check your insurance policy carefully too. This may state that if there is an alarm at the property then this will need to be set when the property is empty as part of the policy agreement.”

Visiting rights

Proactive visits to the property while it is empty can help prevent problems before they progress.

“Before your tenant leaves for their break it can be useful to arrange for permission to enter the property during their absence,” says Mike.

“Regular visits to the property will allow you to check that all is well, plus enable you to troubleshoot in emergencies.”

“During your visit it’s advisable to check that cookers and taps have been switched off correctly, plus look out for signs of leaks, disturbance or theft.”

Article courtesy of Belvoir

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Keen to diversify your property portfolio? Consider looking at these countries

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Given the constant changes and evolutions seen throughout global politics the importance of diversifying your property portfolio to help protect yourself from adverse changes is significant. We have created a brief overview of recent changes in the property market of four countries we feel represent exciting areas to invest.

Spain:

The scepticism regarding investment in Spain is understandable. Over the last decade, the Spanish economy has undergone a terrible recession. The most notable crisis was the property bubble bust faced in 2007/08. However, since 2016, the Spanish property market has seen sustained economic growth, with house prices increasing. A combination of increased demand in Spain’s construction sector and increased lending goes a long way to explaining these changes.

Further to this, Rightmove has revealed that Spain remains the most popular destination for Brits looking to buy property abroad.

Ireland:

Over the last few years, the Irish market has experienced somewhat impressive growth.  However, in 2017 this has soared; Irish house prices have increased more in the first quarter of 2017 than the entirety of 2016. One potential region to look at would be North Dublin, the area that has experienced the largest rise in property prices. The Irish Times explains this rise as prospective buyers being “priced out of the expensive South Dublin property market”, forcing them to look elsewhere.

Australia:

Venturing outside Europe, Australia presents an interesting opportunity for prospective buyers. CoreLogic have revealed that the South East of Australia has experienced the highest rate of growth amongst the country; most particularly Sydney, in March 2017, experienced an 18.90% increase on the previous year.

Whilst there are many who continue to support the Australian economy, it is worth noting that there is a school of thought amongst some analysts that the Australian property bubble may burst. As such, it is worth approaching this with some caution, none the less, it is a country worth looking at.

Hong Kong:

Within Asia, Hong Kong is currently experiencing the most significant growth rates. When looking at House Price Indexes year on year, there is a general trend demonstrating sustained growth.

Moreover, Jones Lang LaSalle (JLL) has forecasted continued growth over the next 30 months predicting an increase of housing prices by 15%. This is partially explained by strong housing demand; household formation is currently outstripping transaction volumes.

Whilst these countries are not guaranteed opportunities, they do represent interesting prospects to have a look at if you as a landlord are keen to expand and diversify your existing property portfolio.

Written by Jafar Tabaqchali of Arthur Online.

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Does the deposit have to be physically returned ?

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I have a tenant in arrears.

The deposit was unprotected (i.e. not re-protected at renewal due to an admin error)

I offered the tenant the chance to use the deposit against the arrears, we agreed and he signed a letter stating the deposit had been returned. (This was around 2 years ago)

We are in court next week for a possession hearing.

Any advice ?

Thanks

Mick

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Poverty, evictions and forced moves

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Four people from the Cambridge Centre for Housing and Planning Research (CCHPR) wrote the report, and a summary, for the Joseph Rowntree Foundation (JRF).  That is to say, four of its members are credited with writing it.  However, it looks as though Generation Rent has had a hand in it as well. Statistics about one method of eviction, Section 21 (S21), have been given a prominence they do not merit, and precedence over the conclusions, and S21 has been given a misleading prefix throughout.

The conclusion near the end of the full report does not mention S21.  It is followed by 18 recommendations, but again S21 is not mentioned.  Yet the Executive Summary at the beginning of the report concentrates on Section 21 – as if it was taken from a different report.

A separate document was issued which summarised the full report and concluded that:

“Increasing eviction rates are linked to the overall growth of the PRS and to cuts to LHA. Whilst the greatest impact is being felt in London, similar issues were found in other high-pressure markets. The continuing programme of cuts and restraints on state assistance with housing costs will intensify this pressure.”

It does not mention S21, but the two biggest paragraphs in the Key points on page 1 relate to S21:

• “In the past 12 years, the rented sector as a whole has grown by nearly a half, and the number of tenants being evicted from their homes has grown by a third: 10,000 more tenants lost their homes in 2015 than in 2003
• The number of tenants evicted by private landlords exceeded the number evicted by social landlords for the first time in 2014
• The increase in repossessions in recent years has been almost entirely due to the increasing use of ‘no fault’ evictions, using Section 21 (S21) of the Housing Act 1988, which enables landlords to end an assured shorthold tenancy after the end of its fixed term, with two months’ notice, without giving any reason. Tenants do not have a defence against a valid S21 notice.
• The use of S21 is highly concentrated geographically. Four out of every five repossessions using S21 are in London, the East and the South East, and nearly two-thirds are in London alone, although London only has one-fifth of the private rented housing stock. Even within London, repossessions using S21 are highly concentrated, with a third occurring in only five boroughs.”

The last two key points are:

• “Changes in welfare benefits have combined to make rents unaffordable to benefit claimants in many areas.
• As a result, tenants on low incomes are being evicted because their benefits do not pay market rents, and they are unable to afford alternative homes in the private rented sector, or access social housing.”

This put the cart before the horse.  The last two sentences explain why evictions have risen. Section 21 is just the means used.  It is chosen in preference to Section 8 because it costs less in time and money, and does not require a court case.  It is no surprise therefore that its use increased when benefits stopped covering the rent.

Both the report and the summary use the term “no fault” to describe S21 evictions because there is no requirement to prove to a judge that there has been a breach of the tenancy agreement in the form of rent arrears or anti-social behaviour.

The use of the term “no fault” implies that there were no grounds for S21 evictions, that the tenants had done nothing wrong and were therefore being victimised. However, the report itself acknowledges that S21 is being used to evict tenants for rent arrears and for anti-social behaviour.  The term “no fault” is deliberately misleading, brainwashing people into thinking that if S21 is used the tenant cannot have been at fault.

The full report and the summary can be downloaded from a page on the JRF website:  https://www.jrf.org.uk/report/poverty-evictions-and-forced-moves

This has an introduction which includes the Key points from the summary report, except that the last two, above are missing.  So the rest of the introduction is a non-sequitur: “JRF is calling for the Government to end the freeze on support for housing costs, and uprate Housing Benefit in line with local rents.”  It also uses the term “no fault”.

A press release was issued about the report: https://www.jrf.org.uk/press/100-families-day-lose-their-homes

This says that “The increasing eviction rates are linked to the overall growth of the private rented sector and cuts to Housing Benefit, the report by the Cambridge Centre for Housing and Planning Research found.

“The rise is being driven by high numbers of ‘no-fault’ evictions by private landlords. [Emphasis added]  More than four in five of the increase in evictions are carried out under Section 21 – a law which allows landlords to evict a tenant after the initial rental period without giving a reason, and without any wrongdoing on behalf of the tenant.”  [Emphasis added]  This last phrase was not in the reports, and was added for good measure by the authors of the press release.  It implies that there were no grounds for these evictions, yet the report shows otherwise.

The press release does go on to explain that changes in benefits have made rents unaffordable to benefit claimants in many areas, and as a result tenants on low incomes are being evicted.

It continues “Four out of every five repossessions using S21 are in London, the East and the South East, and nearly two-thirds are in London alone. Even within London, repossessions using S21 are highly concentrated, with a third occurring in only five boroughs: Newham, Enfield, Haringey, Brent and Croydon.”  The authors probably don’t understand that landlords prefer the simple procedure of S21 to the more cumbersome procedure of Section 8.

Campbell Robb, Chief Executive of JRF,and Anne Baxendale, director of campaigns and policy at Shelter are then quoted as demanding that the government lift/abandon the freeze on Housing Benefit.  They do not mention S 21.

Finally, Anna Clarke, Senior Research Associate at the CCHPR, and the senior of the authors is quoted: “Alongside the difficulties caused by evictions, our research highlights the complete lack of options people on low incomes face when they lose their home. Greater protection from eviction is needed, but affordable, secure alternatives are too so people do not face even more stress and costs when they are forced to move.” [Emphasis added].

That gives us a clue as to who may have written the Executive Summary and the Key points that are so different from the conclusions and recommendations – by concentrating on “no fault” S21 instead of the HB freeze.

The Guardian then produced two articles based on the press release, to give S21 a good kicking

The first one, was by Michael Savage, Policy Editor with the headline:

“100 tenants a day lose homes as rising rents and benefit freeze hit”

https://www.theguardian.com/society/2017/jul/22/100-tenants-a-day-lose-homes-rising-rents-benefit-freeze

He didn’t just put the cart before the horse, he made it look as if they had nothing to do with each other.  He used the press release’s statistic about more than four-fifths of the increase in evictions being through “no-fault” S 21 before mentioning that Housing Benefit no longer covered the rent, but he did not connect the two things.

He wrote “High numbers of “no-fault” evictions by private landlords is driving the increase. More than 80% of the extra evictions had occurred under a Section 21 notice, which gives a tenant two months to leave. The landlord does not have to give a reason and there does not need to be any wrongdoing on the part of the tenant.” [Emphasis added]

Even after writing, “the study found that changes in welfare benefits have combined to make rents unaffordable to claimants in many areas,” he did not mention that was the reason for the evictions.  It was as if he was writing about two different groups of people – no-fault tenants who were being evicted for no reason, and people on benefits who were “struggling to meet their bills”.

But the article by Dan Wilson Craw, director of Generation Rent, was much more misleading.

“Landlords are turfing people out of their homes without reason – and it’s completely legal”

https://www.theguardian.com/housing-network/2017/jul/25/no-fault-evictions-landlords-tenants?CMP=Share_AndroidApp_Copy_to_clipboard

The headline is complete nonsense.  Nobody “turfs” people out of their homes, and nobody evicts tenants without a reason.

His article starts with “For every school in England there are five children without a home. The Local Government Association reports that 120,000 children are living in temporary accommodation. The primary cause of this homelessness is the end of a private sector tenancy, ie eviction.

Unfortunately, there is no official explanation for this, because private landlords don’t need to give a reason when they ask tenants to leave. In a study released on Sunday, Joseph Rowntree Foundation attributes 80% of the recent rise in evictions to this “no fault” process.”

The first paragraph is nonsense.  Eviction is not the cause of homelessness, it is merely the process through which it occurs.  The cause of homelessness is whatever triggered the eviction.  It can be the actions of the tenant.  It can be the needs of the landlord.  It can also be the actions of the government, driving landlords to sell up or increase rents due to tax increases (which ironically were supported by Campbell Robb when he ran Shelter).

The second paragraph is shameless.  The reason is in the full report, the summary report, and the press release: Changes in welfare benefits have combined to make rents unaffordable to benefit claimants in many areas.

He continued “While building more homes for long-term rent is important, we need a quicker solution. Ending section 21 could just be it.”  No it couldn’t.  Ending S21 could just be the last straw that drives small landlords out of the market.  About 1.7 million landlords have only one property, but they account for 38% of rental stock.

He went on: “Landlord groups claim their members only evict delinquent tenants and only use section 21 to do that, because it’s quicker than section 8. The English Housing Survey begs to differ, finding that 63% of evictions happen when a landlord plans to sell or otherwise use the property.”

This is a patently untrue.  No landlord group has ever denied that evictions occur due to the owner moving in or selling.  On the contrary, for two years now they have been telling all and sundry, including Generation Rent, that Osborne’s tax attacks are forcing landlords to sell with vacant possession.

“The majority of landlords, who are interested in keeping reliable tenants have no need for section 21.”  They certainly need it when their tenants become unreliable and stop paying the rent or become anti-social.  He clearly does not understand why S21 is used.

And “Landlords should be legally accountable for ending a contract early.  Enforcing a penalty for this type of behaviour, which could be paid to tenants, at a high enough rate that it could pay for setting up a new tenancy, would discourage blameless evictions.”   The very first comments beneath his article point out his ignorance: S21 cannot take effect before the end of the fixed period of a tenancy.

“Reforming this damaging law is Generation Rent’s top priority.”  He is so ignorant of the PRS that he does not realise that this would drive landlords out of the market and deter others from entering it, so that the stock of rental accommodation, already in short supply in some areas, will fall further while the population continues to increase.  This would make rents rise even more, to the detriment of the tenants he claims to represent. It would also cause an increase in evictions as landlords leave.  Is this the “greater protection from eviction” that Anna Clarke has in mind?

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Two children dead after couple sets a house on fire

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Arson attack on landlord:

A Washington couple is facing arson charges after they allegedly set fire to a two-story home, killing two young child residents, in their attempt to get back at their landlord.

It was reported by The Associated Press that Kimberly Marie Hughes, 32, and Jaramy L. Chism, 24, were evicted from their home in Mount Vernon. Just days later the deadly fire went through the building when Rose, 8, Xavier, 6, were killed.

Other residents in the building were awoken at around 2 a.m. to fine fire coming into their accommodation through the windows.

Two residents attempted to put the fire out, while one of the homeowners reportedly ran to rescue her two small children, the six-year-old boy and eight-year-old girl, from the second floor.

The woman is said to have attempted to pull the children through a window, but she fell out of the building whilst trying.

A statement said:

“When she pushed the screen to open it, she fell through the window, falling to the ground from the second story, the children did not make it out.”

The suspects had allegedly threatened to burn the house down after they were evicted.

Hughes, who has a previous arson charge, threatened a neighbour she worked for that she would burn the house down, the week before the fire.

The pair are each being held on $2 million bail and both deny the allegations.

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JRF spin on eviction data is disgraceful

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I read the RLA’s response to the JRF report on evictions and went on to read the full JRF report.

Given it is built on interviews with 145 tenants who were Shelter clients it was never going to be unbiased was it?

This is just one example of the spin in the report:

Reasons reported by tenants for tenancies ending:-

• Wanted to move 78%
• Asked to leave by landlord/agent 8%
• Accommodation tied to job and job ended 2%
• Mutual agreement 8%
• The tenancy was for a fixed period 6%
• Rent increases by the landlord 2%

This suggests that just under a quarter of moves from private rented properties in England were forced in some way – not simply because the tenant wanted to move.

So, the statistics show that only 8% of the tenants were asked to leave by their landlord, but JRF manages to turn this into ‘just under a quarter of moves from privately rented accommodation were “forced” in some way.’ The intimation is, of course, that the landlord ‘forced’ the tenant out without using a S21 or S8.

How can these organisations (Joseph Rowntree Foundation, Shelter) hope to maintain credibility when they spin better than Alastair Cambell did?

When will someone have the courage and confidence to interview tenants AND landlords, to produce a balanced, unbiased, and ultimately far more helpful report?

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AIRBNB Management Company Reviews

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AIRBNB Management seems to be a big growth sector, particularly in London, Birmingham, Edinburgh and other big cities. I haven’t been able to find a National operator yet but I suspect it is only a matter of time before we see them launching.

I have looked into this in some detail and many of the London operators appear to have excellent Trust Pilot ratings, so I am keen to engage a discussion about this on Property118 with my fellow members.

There are a number of issues such as whether letting with AIRBNB breaches mortgage, insurance and lease conditions but I am particularly interested to hear from landlords who have used these agencies.

Have AIRBNB Management Companies been able to give you a higher net return than would would have received by letting your property(ies) on a traditional AST?

What has been your experience of treatment of the property and also the bookings process, cleaning and key management?

Why did you decide to switch to this business model? Was it because furnished holiday lets are treated differently for tax, was it the lure of higher net rental yields or was it something else?

I look forward to reading your replies.

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A Game Changer For Landlords

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Many years ago I did a management training exercise with a human behavioral psychologist and an also an accomplished author. You may have heard of him or read some of his books. His name is Dr Ken Blanchard, author of ‘The One Minute Manager’, ‘Whale Done’, Gung Ho! and many other best sellers.

One of the exercises took the form form of a party game which was designed to explain change and human behavior in relation to it.

He asked everybody in the room (about 100 people) to pick a partner, turn their back on each other and to make 5 changes to their appearance. Most did this in silence, save for a few giggles. Individuals within the group were entirely reliant on their own creativity and oblivious to other creativity all around them.

Ken then asked us to spot the changes our partners had made. That was the easy bit and got quite a few laughs.

He then told the group to do the same again, but this time to make 10 additional changes this time, so 15 in total.

The vast majority of people in the group became very defeatist at first whilst others achieved the task with ease, but mostly still in silence. Ken hadn’t told people to look around them or to communicate at this point, so most didn’t. They were stuck in their own little bubble having a their very own private creativity block. They self-talk had turned negative and they didn’t like the game any more. Those who performed the task with ease had spotted what others were doing and were copying them.

When Ken explained this to the group it was then much easier for everybody to accomplish their task, so he asked them to make a further 10 changes to their appearance, making it 25 in total. At this point there were more moans and groans and a lot more laughs as people started swapping clothing, to the point we had a room full of very strange looking cross dressers and a few virtually naked exhibitionists. Most were all having fun at the end though, communicating well and sharing their creativity. It wasn’t easy for Ken to restore order back to the room and it took quite a while, but of course he knew that would be the case because he’s Ken Blanchard.

So why am I sharing this you might well ask.

The reason is to explain that there will always be early adopters, people who are more creative, some people who are better communicators than others and a lot of people feeling just like you do. When we open ourselves up to see the creativity and communicate it with others, dealing with life changes becomes a whole lot easier. Perhaps you can relate to that in some way as a landlord; whether it is changes to legislation, the new tax regime all private landlords are now coming to terms with or something else.

My own dilemma right now

It has been quite a few months since we launched the Property118 Landlords Events Calendar but it hasn’t performed in quite the way I have expected it to. In much the same way as in the ‘change game’ I’ve explained above, a few organisations have recognized what it is all about though.

NLA and RLA have been using the free advertising on the Property118 Events Calendar to promote their events for a while now. You might have noticed, they certainly have because their events are now full of Property118 readers!

What I couldn’t understand, until thinking about the ‘change game’ when I woke up today, is why the smaller landlords associations and property network event organisers don’t use it so much. Where else can they advertise to such a large and targeted audience for FREE? Perhaps they don’t want too many visitors to their events, but I very much doubt that is the case. I suspect it’s because they are so busy organizing and promoting their events that they are oblivious to what is going on beyond that, much like the people who didn’t spot and copy the changes going on around them in the ‘change game’.

It has now occurred to me that 10’s of thousands of landlords have already looked at our events calendar but probably never considered the benefits to the landlord community as a whole of sharing this innovation with the organisers with events they already attend.

Just think how many more landlords you could network with and share ideas and stories with if ALL landlord events were advertised for free on the most popular landlord focused website in the UK.

If you are believer in “what goes around comes around” then please share with others what Property118 is all about for you. Without people asking questions and sharing their experiences and thoughts on ‘best-practice’ Property118 would be a pointless website. Just imagine how much better it could be if every landlord in the UK was to visit and contribute to it!

How much more could we all learn from each other?

So, hopefully, now you know what to do. Talk to other landlords about Property118 and if you attend any landlord events please tell the organisers about the free publicity they can tap into to promote their future events to the largest landlord audience in the UK.

And if you are having an event or a party any time soon, try playing the change game. You will have lots of fun

National Landlord Investment Show sparks lobbying by Iain Duncan Smith

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The UK’s leading property investment show has brought the controversial subject of landlord licensing and laws into the national press by its Expert Property Panel, including Iain Duncan Smith MP and David Smith, the Economics Editor of the Sunday Times.

The Property Panel and the coverage around it sparked interest from The Times, The Telegraph and extensive coverage in industry media including Property188, Property Tribes and LandlordZONE, generating thousands of comments and views, and resulting in many landlords to writing to Parliament with their concerns about the effects of Section 24 in particular.

The panel debated and discussed current issues affecting including landlord law, licensing and Section 24 in front of an audience of 350 nationwide landlords and property investors.

Following on from the debate, Iain Duncan Smith was quoted in the Sunday Times addressing the areas brought to light: ‘“Finally, it is time to look again at the way we treat private landlords who buy houses to
rent. George Osborne’s decisions to impose a stamp duty levy on the purchase of homes to rent, to restrict mortgage interest relief to the basic rate of income tax and to tax a landlord’s turnover rather than profits have led to landlords scaling back or even leaving the sector altogether.

‘They are a significant provider of the additional housing we need. We should be encouraging them with devices such as VAT relief on conversions or even capital allowances, not punishing them. It’s no wonder buy-to-let purchases have fallen dramatically. If the purpose was to stop foreign owners buying up property and leaving it empty we would be better off levying a tax on empty homes. For example, in New York, apartments can incur a tax of up to $20,000 if they are left empty. We are in danger of throwing the baby out with the bath water’

He continues, ‘the issue of home ownership and home rental been at the forefront of political dialogue for some time. In the UK we face today a growing crisis in the availability of housing. However, with recent immigration running at the level it has for some years this issue has become one of the key issues facing the government and one which although it featured in the election, I had hoped would feature
more than it did.’

David Smith added, ‘the panel discussion provided an ideal opportunity to asses the lie of the land after the General Election. I made that government announcements, particularly from Chancellor George Osborne, has gone from being heroes of the Tory party to almost pariahs. Iain Duncan Smith said that this was not the intention, but pledges to take up these issues with his colleagues’

Richard Bowser of Property Investment news highlights the opportunity the National Landlord Investment Show has presented: “With 2m plus private landlords out there and a government who are now on shaky ground, lobbying now could really make a difference as the impact of these taxes becomes apparent and rental properties become scarcer and rents increasing”.

National Landlord Investment Show and its sister publication, Landlord Investor Magazine will be reporting on any developments as soon as they happen. The Property Panel will once again come together on 7 November at Olympia, London with Iain Duncan Smith to discuss
industry developments and any development brought on by the recent lobbying.

Read the full review of the Expert Property Panel in the July issue of Landlord Investor magazine

Full coverage of the debate, commentary and press coverage is available at www.landlordinvestmentshow.co.uk/mediacoverage

Registration for the forthcoming Autumn shows in London, Sussex and Cardiff is complimentary at www.landlordinvestmentshow.co.uk

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