Guaranteed Rental agency – Can’t get my property back after 3 years

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Back in 2013, we signed a contract with a Guaranteed Rental letting agency for a 3 year period. The contract stated that if/when we wanted our property back (after the 3yr period) we would give 2 months notice, but the actual time taken to return vacant possession could be delayed due to eviction proceedings etc.

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EXCLUSIVE: Controversial landlord Fergus Wilson to appeal £125,000 fine over ‘harassment’

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Multi-millionaire landlord Fergus Wilson has vowed to appeal against a High Court ruling ordering him to pay £125,000 to Ashford Council for harassing staff.

A defiant Wilson tells LandlordZONE that he continues to dispute claims and believes the authority is now suffering the fall-out of his decision to sell off hundreds of rental properties in the area.

Last year, he was slapped with an injunction not to contact the council after the High Court heard he had sent hundreds of letters and emails and made needless phone calls and formal complaints against officers, councillors and legal representatives.

An unrepentant Wilson says: “I didn’t harass them. They said I made ‘needless phone calls’ but I could never get through on the phone so I had to email them – and of the 454 letters they said I sent over four years, that only works out at a couple of letters a week relating to my 300 houses.

“We housed people who couldn’t get a house elsewhere but all the thanks we got was them saying I was harassing them.”

It prompted him to exit the sector and he has now sold the last of his 150 houses – from an original 970 properties around Kent – and points to news this week that the council-run private rental sector lettings agency, ABC Lettings, is launching an advertising campaign to win private landlord clients, saying that “the private sector landlord market is considered to be a hard to reach audience”.

Wilson adds: “Ashford Council told me they couldn’t cope if I pulled out of the area – and now they’re having a terrible time. Do they think any private landlord will want to invest in Ashford when they see this?”

The High Court has now ruled that the controversial landlord must pay £125,000 by 17th May as a part payment while the full costs are assessed. The council believes this value, just under 75% of its estimated costs of £170,000, represents a reasonable sum.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – EXCLUSIVE: Controversial landlord Fergus Wilson to appeal £125,000 fine over ‘harassment’ | LandlordZONE.

View Full Article: EXCLUSIVE: Controversial landlord Fergus Wilson to appeal £125,000 fine over ‘harassment’

This is simply not good enough

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Responding to confirmation in the Queen’s Speech that the Government will bring forward its planned Renters Reform Bill to abolish Section 21 repossessions, Ben Beadle, Chief Executive of the National Residential Landlords Association, said:

“We welcome the Government’s acceptance that reforms to the rented sector need to strengthen the ability of landlords to tackle anti-social tenants and those with repeated rent arrears.

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SHOCK drop in number of HMOs blamed on growth of council licensing schemes

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HMO numbers in England have dropped by 3% during the past 12 months many landlords offloaded their buy-to-let stock instead of negotiating more legislative hurdles.

Market analysis by Octane Capital reveals that while there were 511,278 HMOs in 2019/2020, this fell to 497,884 in 2020/21, driven by the London market which saw a 13% reduction in numbers, by far the biggest drop of all the regions.

In the capital, 11 different boroughs have reported a decline, with the biggest in Ealing where the number of HMOs are down by -59%, followed by a -58% drop in Lambeth. Other big losers were Redbridge, Barnet, Greenwich, Enfield, Wandsworth and Croydon.

Licensing

Octane blames the regulations introduced in 2018 that require an HMO licence for all properties occupied by five or more people who are not members of one family, while all rooms must exceed a minimum size and can only sleep a certain number of people over 10 years old.

However, another of the lender’s recent studies found that the average HMO is now worth £364,508, 32% more than the typical house, with professional buy-to-let investors still hungry to expand in the sector, infused by the benefits of greater rental incomes and capital growth.

CEO Jonathan Samuels (pictured) says the changes mean that those reliant on the rental sector now have even less choice when it comes to finding suitable, safe accommodation.

However, he adds: “We’ve continued to fund a high number of quality HMO deals throughout the pandemic and this sustained level of interest from professional investors is yet to show any signs of decline.

Read: The complete guide to renting an HMO property.

“This includes a large number of refurbishment transactions whereby investors are looking to drastically improve the quality of existing HMOs, so while volume has certainly fallen, we don’t believe this will be a long-term trend.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – SHOCK drop in number of HMOs blamed on growth of council licensing schemes | LandlordZONE.

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Queen’s Speech – Landlord Reactions

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In the State Opening of Parliament, the Queen’s speech (this year given by Charles the Prince of Wales) sets out the laws her government wants to pass and the priorities for the months ahead.

For the Property Sector the main headlines are:

Her Majesty’s Government will introduce legislation to improve the regulation of social housing to strengthen the rights of tenants and ensure better quality

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New Shelter video attacking letting agents and rental conditions

admin    Uncategorized     agents

Shelter claims Landlords and letting agents have got away with cutting corners for far too long and have released a satirical video with an agent played by comedian Rory Marshall.

In the latest press release, Shelter’s ‘research’ also indicates one in six private renters in England (equivalent to two million people) are forced to accept poor conditions to find somewhere they could rent.

View Full Article: New Shelter video attacking letting agents and rental conditions

CGT return – Have I got this right and can I use paper?

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My net income for the tax year ending April 2021 will be £20,000 and I expect it to be the same next tax year ending April 2022. However, I now have a vacant property and am considering selling it.

I have roughly worked out that after initial purchase costs

View Full Article: CGT return – Have I got this right and can I use paper?