LATEST: Stock, viewings and confidence return to rental market, leading companies reveal

admin    Uncategorized     agents

Both Rightmove and Spareroom report an energetic re-opening of the private rental market since the government’s decision to allow home moves last week.

Monday
saw the highest number of rental searches ever recorded in one day on Rightmove.

The
platform reports that demand for rental properties is up 33% compared to this
time last year as renters start trawling the site in earnest, with the largest year-on-year
increase in Rotherham (+97%), Cambridge (+77%) and St Helens (+75%).

With
the market now open, it’s the same story on flat-sharing site
SpareRoom which reports that more than half (54%) of renters are feeling
confident again about viewing a property now restrictions have been lifted.

SpareRoom’s survey found that while one in three (32%) would only feel comfortable viewing properties if they absolutely had to move, it’s reporting a huge increase in the number of video viewings since lockdown began, with six times the normal volume of uploads.

Virtual methods

Director Matt Hutchinson says renters,
landlords and agents are keen to get on with their search as safely as possible. “It’s clear that people are embracing virtual methods to continue
searching for properties safely,” he says.

“We’d
encourage as many people as possible to upload a video to their ads, especially
if it includes the people living in the property. We may well see video
remaining a natural part of the way people find rooms and flatmates way beyond
the end of social distancing.”

Rightmove reports that there are almost 23,000 new rental listings since the first day of reopening, down 10% on the same week last year, with total available rental stock up 13% since before lockdown. Asking rents – on average £1,089 pcm – are currently up 2.1% on 2019, but down from an annual rate of 3% before lockdown.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Stock, viewings and confidence return to rental market, leading companies reveal | LandlordZONE.

View Full Article: LATEST: Stock, viewings and confidence return to rental market, leading companies reveal

FCA proposal to extend mortgage payment holidays to 31st October

admin    Uncategorized     agents

The Financial Conduct Authority (FCA) has announced proposals which will continue support for customers who are struggling to pay their mortgage due to coronavirus.

The proposal outlines the options firms will be required to provide customers coming to an end of a payment holiday

The post FCA proposal to extend mortgage payment holidays to 31st October appeared first on Property118.

View Full Article: FCA proposal to extend mortgage payment holidays to 31st October

Scotland Coronavirus Bill amendments defeated

admin    Uncategorized     agents

A second Coronavirus bill was passed by Scottish Government 20 May 2020 and thanks to lobbying by Scottish Association of Landlords (SAL) proposed amendments to enact a two-year private sector rent freeze; place a two-year ban on tenant evictions for rent arrears.and extinguish rent arrears in cases of extreme hardship as a result of Coronavirus were defeated.

The post Scotland Coronavirus Bill amendments defeated appeared first on Property118.

View Full Article: Scotland Coronavirus Bill amendments defeated

Landlord Hero of the Week #5: Julia Dee

admin    Uncategorized     agents

As the nation continues to clap its NHS and other front line workers, we highlight one landlord who has opened up her rental property to offer people working in Central London hospitals free accommodation.

Julia Dee didn’t think twice when an email landed in her inbox from UnderTheDoormat asking if homeowners wanted to offer their property to NHS staff.

“I didn’t even ask my husband but just said yes immediately,” says Julia, who owns a clothes alteration business in Battersea, central London.

“They found me a tenant within a couple of hours – a consultant anaesthetist at Chelsea and Westminster Hospital, who didn’t want to stay at home because his wife is undergoing chemotherapy.”

Julia usually stays in her one-bed flat in Chelsea for three days a week and for the last year has let it out for the rest of the time when she’s at home in Hampshire.

But she, like many of UnderThe Doormat’s clients, is part of the NHS Homes Initiative; it’s hooked up medical staff with free accommodation so they can stay nearer hospitals during the COVID-19 outbreak and currently has 100 properties in the scheme.

“I requested a mortgage holiday from my lender and was furloughed from
my business in March,” she explains. “I knew I couldn’t rent the flat out so
wanted to help out instead. I’m glad to have taken away some of the strain from
someone – after all, he’s saving lives.”

Her anaesthetist tenant moved in at the beginning of April and will
stay until early June, when Julia hopes to rent out her flat again, adding:
“I’m sure he’ll be very glad to get back home by then!”

The UK Short Term Accommodation Association is coordinating the scheme, arranging for the laundry to be done and deep cleaning it when tenants leave. And while the utility bills are minimal, her tenant agreed to pay them in May. Julia says the initiative has made the whole process really easy. “NHS Homes epitomises the spirit of what this couple of months has been about,” she adds.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlord Hero of the Week #5: Julia Dee | LandlordZONE.

View Full Article: Landlord Hero of the Week #5: Julia Dee

Government tells students one last time: you’re not being let off your rent

admin    Uncategorized     agents

Education minister Michelle Donelan confirms Johnson government has no intention of helping students who live in private rented accommodation despite a noisy campaign conducted by the NUS.

The Government has confirmed
once more that it won’t be handing out cash to help students survive the crisis,
despite rising cries of anguish from student organisations.

Unlike Scotland, where the government has
provided a £5 million package of emergency support for those suffering COVID-19
hardships, and is also about to enable tenants to quit tenancies early, Westminster
has demurred.

In answer to a Parliamentary written question
from Catherine West, Shadow Minister for Foreign and Commonwealth Affairs,
Education Minister Michelle Donelan said students should approach landlords
with requests for help.

West asked what steps the department was taking to support university students with accommodation they could no longer use because of the Covid-19 outbreak.

Early release

Donelan replied that students who were tenants
with individual private landlords could discuss the possibility of an early
release from their tenancy agreement, as they might be entitled to a refund,
depending on the terms of their contract.

She added: “Tenants without an agreed release
date are still liable for their rent and should pay this as usual. They should
speak to their landlord if they think they will have difficulty meeting a
rental payment.”

Donelan also referred students to Citizens
Advice and suggested they raise a complaint under the accommodation codes of
practice.

The National Union of Students
(NUS) has written to private landlords with a list of demands to help student
renters financially survive the crisis, including rent
subsidies, reductions or waivers for six months for those impacted by Coronavirus,
and no rent increases for the
next 12 months.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Government tells students one last time: you’re not being let off your rent | LandlordZONE.

View Full Article: Government tells students one last time: you’re not being let off your rent

Breaking: Scottish housing market to reopen in mid June, says First Minister

admin    Uncategorized     agents

Nicola Sturgeon makes announcement today after publishing her government’s five-phase roadmap for Scotland’s emergence out of Coronavirus shadow.

Landlords in Scotland will be able to begin renting out their properties once more on or after June 18^th, it has been announced by First Minister Nicola Sturgeon.

This date is the beginning of Phase 2 of the SNP government’s five-phase roadmap to ease Scotland out of the Coronavirus pandemic, albeit at a much slower pace then in England. Its housing market reopened fully last week following a sudden announcement.

Instead, Sturgeon says Scotland will move out of its current complete lockdown on 28^th May and move to Phase 1, which will see Scots able to fraternise with family and friends in outdoor spaces, workplaces re-open but only where home working is not possible.

Restrictions relaxed

During this period Sturgeon has said her government will work with landlords and agents to prepare for a relaxation of restrictions on house moves.

This will take place during Phase 2 of the plan, which will begin on June 18^th this summer.

During both Phase 1 and 2 there will also be a limited re-opening of schools and house builders will also be able to restart their construction sites.

But Sturgeon has warned that her roadmap is not fixed and will be dependent on careful monitoring of the virus, including the infamous R number being kept below one.

“This document sets out the steps that will take us there,” says Sturgeon. “It doesn’t have all the answers and it doesn’t set exact timescales. That’s because we are still learning about the virus. We will have to move carefully and gradually to ensure we keep it under control and develop the best ways of doing so.”

Read the roadmap in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Breaking: Scottish housing market to reopen in mid June, says First Minister | LandlordZONE.

View Full Article: Breaking: Scottish housing market to reopen in mid June, says First Minister

Uni tenant demanding 3 months rent for water damage?

admin    Uncategorized     agents

The house I rent to students was water damaged by storms and my tenant was unable to use her room for 10 days.

She therefore  went home as the University was Closed.

I have offered her two weeks rent

The post Uni tenant demanding 3 months rent for water damage? appeared first on Property118.

View Full Article: Uni tenant demanding 3 months rent for water damage?

Negotiating rent arrears repayment

admin    Uncategorized     agents

During the pandemic, many employees will have found themselves furloughed, or worse, without employment. This means that they might struggle to continue to pay their rent.

If you have a tenant who has not kept up with payments and has built up rental arrears there are steps you can take.

The post Negotiating rent arrears repayment appeared first on Property118.

View Full Article: Negotiating rent arrears repayment

LATEST: Landlords will begin quitting the sector if blanket evictions ban continues, it is claimed

admin    Uncategorized     agents

NRLA boss Ben Beadle says evictions over anti-social behaviour or tenants who wilfully withhold their rent should be allowed after the end of June.

Disillusioned private landlords will create a housing shortfall by quitting the rental market if the government continues to make it difficult to evict tenants during the crisis, the National Residential Landlords Association (NRLA) has warned.

“We need landlords who are going through a
difficult time to have the confidence to stay in the market otherwise we are
only going to end up with a worsening housing crisis as more tenants chase
fewer properties,” says NRLA chief executive Ben Beadle.

“The vast majority of landlords are doing
everything possible to support tenants through difficult times.

“As ministers consider their next steps
regarding the ban on evictions, they shouldn’t make it more difficult to take
action against tenants who may be committing anti-social behaviour or domestic
abuse, or where they are wilfully withholding rent which they can afford to
pay.”

NRLA research shows 90% of landlords who had
received a request for support from a tenant had responded positively, by
either offering tenants a rent reduction or deferral, a rent-free period, early
release from a tenancy or a refund on service charges.

Of the 4,500 landlords surveyed, 44% had received a request for help. 

Rent payment problems

It found that more than half of landlords had
been affected by the impact of the virus on their tenants, with 54% having
experienced rent payment problems or unanticipated periods when properties were
empty.

NRLA says 60% of landlords with declared rent
arrears had experienced at least the equivalent of one month’s loss of income
across their portfolio.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Landlords will begin quitting the sector if blanket evictions ban continues, it is claimed | LandlordZONE.

View Full Article: LATEST: Landlords will begin quitting the sector if blanket evictions ban continues, it is claimed

Are rent guarantee policies still being offered?

admin    Uncategorized     agents

I have been told that it is impossible now to arrange a rent guarantee and tenant eviction insurance policy as these have been suspended, a better way is to say they have been withdrawn from the market.

I was told by the NRLA yesterday that rentguard with whom they work has suspended and the brokers I use have a similar message on their site.

The post Are rent guarantee policies still being offered? appeared first on Property118.

View Full Article: Are rent guarantee policies still being offered?