May
6

Landlord’s plea: Why won’t police help me evict drug-dealing tenant?

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A landlord who’s been waiting for a court to hear his application to evict a drug-dealing tenant for more than a year fears his case could be further delayed due to a lack of police co-operation, he has told LandlordZONE.

CCTV captured the woman letting people into her flat in his serviced accommodation property which was raided by police in 2019.

During subsequent raids, she appeared to be involved in County Lines drugs activities.

The landlord finally managed to get a closure order in August 2020, which flushed out London drug dealers visiting the property, but he says people still regularly turn up to buy drugs, upsetting neighbours.

After serving both a Section 21 and Section 8 notice in October, he finally has a review hearing on Monday, but has struggled to get a police statement that supports his case.

Vulnerable

He tells LandlordZONE: “They’ve promised to send it since the beginning of March but when I finally got one, it only talked about how vulnerable the tenant was and just said we, ‘felt intimidated by the environment’.

It doesn’t mention the anguish we’ve been going through for nearly two years. It’s impacted our business as it’s effectively closed me down, as well as our mental health.”

The landlord is now desperately trying to get the police to provide a more thorough statement and says if they don’t, he won’t bother submitting it to the court.

“It might suggest that I’m making things up in my statement as I’ve provided so much more detail in my report. However, without it, I don’t think it will be enough for the judge to make a decision. I feel so let down – it’s a real slap in the face.”

Please note: The landlord was only happy to talk to LandlordZONE anonymously until his eviction is over.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlord’s plea: Why won’t police help me evict drug-dealing tenant? | LandlordZONE.

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May
6

Bank Base rate remains 0.1% as pandemic slows global growth

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The Bank of Englands Monetary Policy Committee (MPC) has voted unanimously to maintain Bank Rate at 0.1% and current levels of Quantitative Easing. This was due to the fall in inflationary pressures caused by global economic activity being more adversely affected by the pandemic than predicted.

The post Bank Base rate remains 0.1% as pandemic slows global growth appeared first on Property118.

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May
6

NEW: Landlords warned to expect court delays as 100,000 evictions pile up

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Courts are set to buckle under the pressure once the eviction ban restrictions end, with most cases entering the system now not likely to be completed until well into 2022, a report has warned.

Compiled by the LSE, the report paints a bleak picture of the court system, estimating that at least 100,000 claims could be subject to court proceedings during this year.

While only a third of those that start the eviction process reach formal repossession, it says about twice as many tenants as normal are in arrears and these arrears are likely to be rising.

As a result, the time taken to get an order, let alone to reach repossession – 42 weeks on average – is unlikely to fall.

The report predicts that hardly any potential claims under either Section 21 or Section 8 will get to court until at least the second quarter and many might not even start the process through the courts until late in 2021.

The latest figures for the last quarter of 2020, compared to 2019, showed that landlord possession actions in terms of claims (8,382), orders for possession (2,195), warrants (1,792) and repossessions (548) dropped by 67%, 89%, 86% and 93% respectively.

Solutions

LSE London suggests that if social landlords who, pre-pandemic brought the majority of the cases, continue to delay starting eviction proceedings, more space would be left for private landlord cases.

The government could also put more resources into the courts. The report says: “This obviously has potential but seems to be unlikely given the priority that must be given to the criminal system and the attitude of government to private landlords during the pandemic.”

It adds: “It is likely that the need to speed up criminal cases in county courts will put further pressure on those available to deal with civil issues. Arguably therefore whether or not landlords start formal proceedings hardly matters, except for the months of insecurity, mental stress and hardship facing so many tenants and indeed landlords.”

Read the report in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – NEW: Landlords warned to expect court delays as 100,000 evictions pile up | LandlordZONE.

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May
6

LATEST: Rental market to take two years to recover from Covid

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Long-term arrears and loss of credit-worthiness among tenants and loss of income and confidence among landlords will continue to scar the private rented sector until 2023, warns a new landmark report.

Homelessness and rough sleeping in the time of Covid’ finds that the evictions ban has left tenants racking up debt while nothing has been done to help landlords facing significant losses from arrears.

The report – by a research group within the LSE – believes re-starting evictions won’t alleviate the problem for many months.

Lower rental incomes could also lead to a significant restructuring of the private rental sector, making the future even more uncertain.

It adds that normality, even with respect to court proceedings, appears to be at least two years away.

The LSE report says that more than 400,000 private tenants may be in significant rent arrears by the end of 2021 and at risk of eviction if the government lifts its suspension on eviction proceedings from 1st June.

Slow burn until 2023

But it adds that spikes in evictions are highly unlikely; rather there will be a slow burn that will go on at least into 2023.

Currently, 6-7% of tenants appear to be in arrears, which is twice the proportion of a ‘normal’ year.

But large numbers won’t immediately find themselves homeless because the courts simply won’t be able to cope with the cases.

It recommends that greater protections are put in place to protect private tenants and landlords, including immediately stopping ‘no fault’ Section 21 evictions while speeding up court proceedings for extreme cases of failure to pay rent.

It wants the government to support Discretionary Housing Payments and to help those without access to UC but in rent arrears, such as through low interest rate loans.

Dr Nancy Holman (pictured), co-author of the report, says: “Unfortunately, these solutions are partial. In a crisis of this magnitude there are no easy answers. One in five households in England rent, with many having no other option. If we are to avoid catastrophic problems in the future, we must ensure that the private rented sector remains sustainable.”

Read the report.

Read more about arrears.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Rental market to take two years to recover from Covid | LandlordZONE.

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May
6

Housing Market Update For May – Why Property Prices Will Boom?

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In this month’s UK Property Prices and Housing Market Report, I explain why I believe the current house price boom is set to continue. In this video I share:

The eight reasons why house prices are booming

Why The house price boom will continue

When the boom will end

What you need to do to capitalise on current opportunities.

The post Housing Market Update For May – Why Property Prices Will Boom? appeared first on Property118.

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May
6

CAMPAIGNING Danny Butcher foundation donates cash to homelessness charity

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The trust set up in the memory of Danny Butcher, the former army reservist who took his own life after getting into debt after attending a Samuel Leeds ‘financial freedom’ course, has donated its first funds to charity.

Butcher’s father Alan (pictured), who runs the foundation with the help of family and supporters, says the problem of homelessness in particular among former services personnel was close to his son’s heart.

“When Danny attended the course run by Samuel Leeds he wanted to both improve his own financial position so he and his partner could lead a better life, but also said any spare cash his property investments generated would be donated to homelessness and armed forces charities,” he tells LandlordZONE.

His son, who was already in financial difficulty, borrowed £13,000 to attend a Samuel Leeds course.

“That’s why we’ve begun fund raising via the foundation and so far we’ve raised £3,000 with the first tranche of £500 going to Help 4 Homeless Veterans charity.”

Donate to the foundation here.

Danny Butcher’s desire to end his financial problems by following Leeds’ investment advice didn’t pan out as he had hoped and the then 37-year-old instead sank further into debt.

“He stood in my kitchen and told me he’d made a mess of everything but I told him we’d get through it together,” says Alan. “But I could tell something had changed within him.”

Guru regulation

The Danny Butcher Foundation is campaigning for ‘property gurus’ such as Leeds to be regulated to protect inexperienced and vulnerable people like Butcher, and has launched a petition.

“Over the last 15 years, the ‘wealth creation/property training’ market has grown to become a multi-million pound market with little regulatory oversight,” the foundation says.

“This lack of regulation has created an opportunity for unscrupulous individuals to run rampant.

“Significant numbers of people are being pushed into debt after having been sold an expensive dream of easy riches. Many more find themselves in a worse financial situation than before they signed up to the expensive ‘training’.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – CAMPAIGNING Danny Butcher foundation donates cash to homelessness charity | LandlordZONE.

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