Smart Property Investment UK – Bank Conversion Site Tour

admin    Uncategorized     agents

How you can do smart property investment in the UK right now.

Join me on site of my latest Property Deal, where I have purchased a bank in Rickmansworth.

I plan on using Permitted development to turn the uppers into flats and keep the ground floor as a commercial unit all without needing planning permission nor having any money left in the deal.

View Full Article: Smart Property Investment UK – Bank Conversion Site Tour

LATEST: Rising living costs drive tenants into ‘bills included’ BTR sector

admin    Uncategorized     agents

The cost of living crisis is driving more and more tenants into the arms of build-to-rent landlords as renters seek ‘bills included’ tenancies, Rightmove has claimed.

Its latest Quarterly Rental Tracker reveals tenants exhibiting a variety of behaviours to avoid higher bills including staying put longer to avoid paying more rent at a new tenancy and seeking ‘bills included’ homes.

The portal’s analysis of features in over 20,000 build to rent listings on its platform has revealed a significant increase in demand for properties with all bills included.

Over the past year, enquiries from tenants have jumped by 36% for this type of property, the biggest increase out of all available features.

Inflation

The report also reveals that landlords are responding to the cost of living crisis prompted by high inflation, the war in Ukraine and rising energy prices.

Rightmove says many landlords have recognised the challenges of rising household bills for tenants, with two-thirds choosing not to put up rents over the past year, while a third have increased rents.

Nevertheless, a lack of stock and a growing tenant population mean rents continue to rise at the fastest rate ever recorded, now standing at £1,088 per calendar month (pcm) per tenancy, up 11% on this time last year.

It is a similar story in the capital where rents are up over 14% to £2,195 pcm.

“People who had been waiting to see what happened last year are now being faced with record rents and so are seeking out properties where they can have more certainty over their outgoings, with all bills included becoming increasingly sought after,” says Tim Bannister, Director of Property Data at Rightmove.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Rising living costs drive tenants into ‘bills included’ BTR sector | LandlordZONE.

View Full Article: LATEST: Rising living costs drive tenants into ‘bills included’ BTR sector

Birmingham City Council renting out properties they would destroy a private landlord for letting

admin    Uncategorized     agents

Yet again two-faced Birmingham City Council has been found out for renting properties with deadly dampness and mould.  If this were a private landlord they would issue them with  Civil Penalty Fines in the multiple £10,000s

However, guess what

View Full Article: Birmingham City Council renting out properties they would destroy a private landlord for letting

POLL – What is the ROOT CAUSE of increasing homelessness, lack of supply of quality rental properties and rising rents in the UK?

admin    Uncategorized     agents

Please select just ONE answer to the following Poll before clicking the Submit button.

Please choose carefully, because the results will be displayed publicly even though your answer will be anonymous.

I am hoping that hundreds of Property118 Members will vote and that mainstream media will pick up on the results of this Poll and publish their own articles based on the outcome.

View Full Article: POLL – What is the ROOT CAUSE of increasing homelessness, lack of supply of quality rental properties and rising rents in the UK?

Personal borrowing hampered by BTL mortgages?

admin    Uncategorized     agents

Has anyone else found that since the financial crash of 2008 you are unable to get so much as a credit card?

We previously had our mortgages in business loans with a single lender. This loan didn’t appear on our personal credit searches and we had no trouble getting credit approved for personal lending such as car loans

View Full Article: Personal borrowing hampered by BTL mortgages?

Oops! Council leaks plans to widen licensing despite problems with initial one

admin    Uncategorized     agents

Great Yarmouth Council has inadvertently flagged up plans to widen its selective licensing scheme by advertising for a new housing manager.

Its job advert states: ‘The post holder will manage the selective licensing scheme and will take for the council’s aspirations to widen this scheme into other areas of the borough as well as tackling the issues of poor accommodation and illegal HMOs.’

The new full-time employee (on a salary of up to £44,624) will be responsible for leading the council’s private rented sector housing team which already oversees a selective licensing scheme for the most challenged parts of the Nelson Ward, which was launched in January 2019.

Glory

Great Yarmouth hasn’t exactly covered itself in glory since then; in April last year, a Freedom of Information request by The Eastern Daily Press revealed that the authority did not have records of how many eligible landlords had not applied for a licence.

Many local landlords still did not know about the scheme last year, while tenants complained that council officials had not inspected their mould-infested homes more than two years after the launch.

One landlord told the paper how he hadn’t received any information about the scheme but was then slapped with a £1,000 late application penalty.

It found that the council had spent £257,000 on selective licensing in the two years, received £153,000 in licence fees and £94,000 in late penalties.

Landlords said while they were not opposed to the scheme in principle, they believed it was overly punitive and had had the effect of demonising and alienating the ethically-minded among them.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Oops! Council leaks plans to widen licensing despite problems with initial one | LandlordZONE.

View Full Article: Oops! Council leaks plans to widen licensing despite problems with initial one

It is surprising that conditions have remained so buoyant

admin    Uncategorized     agents

The latest Nationwide House price index for April indicates annual UK price growth slowed a little to 12.1%, down from 14.3% in March with prices up 0.3% month-on-month after taking into account seasonal effects.

The average price of a property now stands at £267,620 up from £265.312 in March.

View Full Article: It is surprising that conditions have remained so buoyant

No let up on the lack of new rental listings coming to the market

admin    Uncategorized     agents

The Housing Market readies itself for the latest economic measures to impact the UK housing market, as forward-looking metrics soften, but current activity is still buoyant and house prices are continuing to rise, according to the latest RICS Residential Market Survey.

View Full Article: No let up on the lack of new rental listings coming to the market

Tenant cannot quite raise enough to buy their home?

admin    Uncategorized     agents

Hi everyone, We have a very good tenant of nearly 13 years standing.

However, we would now like to sell the house and the tenants would like to buy the property which is their home.

The maximum mortgage they can get is about £40,000 or ca.

View Full Article: Tenant cannot quite raise enough to buy their home?

LICENSING: NRLA slams Oxford for taxing all landlords instead of targeting bad ones.

admin    Uncategorized     agents

The NRLA has criticised Oxford City Council for failing to use its data to target rogue landlords after announcing the launch of a controversial new selective licensing scheme.

Oxford finally received Secretary of State approval for the scheme – covering half the city – last month after it was first announced in August 2020, meaning that all private rented homes will need a licence from 1st September.

The landlords trade body argues that like many councils, the city is taking an ineffective route by licensing all landlords at a cost instead of using the data available to take direct enforcement action against bad landlords.

No clear link

A spokesman says: “All our research shows there is no clear link between licensing schemes and improved enforcement against criminal and rogue landlords.

“Too often such schemes penalise responsible landlords who will come forward to be identified, whilst failing to find those operating under the radar.

“Oxford, like all other councils, should focus instead on better using the wide array of data already available to identify landlords and take action against those bringing the sector into disrepute.

“This includes council tax and housing benefit data along with information held by the Land Registry.”

The NRLA opposed the new scheme during the authority’s consultation, arguing that HMO licensing had led to rents increasing and to those on lower incomes in the city being driven out of it, as the council seeks to rehouse people in Birmingham and elsewhere.

Complaints

However, in 2021 the authority said it had received 3,360 complaints from private renters about 2,990 properties in a five-year period – around one in 10 of all privately rented homes.

Oxford was the first council in England to introduce a citywide scheme that required every HMO to be licensed back in 2011 – making up less than 15% of private rented homes.

Its new five-year licence will cost private landlords £480, with £80 off for those who apply within the first three months, and a discounted fee of £280 for accredited landlords.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LICENSING: NRLA slams Oxford for taxing all landlords instead of targeting bad ones. | LandlordZONE.

View Full Article: LICENSING: NRLA slams Oxford for taxing all landlords instead of targeting bad ones.