Exorbitant RPI linked ground rent?

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Exceptionally high RPI in the current cost of living crisis means those existing leaseholders with RPI-linked ground rents face exorbitant increases.

The UK Government has stated it plans to do something about this, as it has now created a very unjust and uneven playing field by ensuring all new leases are with peppercorn ground rent only.

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SHAMPLINA: Evictions ban will kill landlord confidence unless courts are upgraded

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Growing numbers of landlords could quit the sector if they don’t have confidence that they can get their property back.

That’s the warning from evictions expert Paul Shamplina, who says that without more investment in the court system and mediation, landlords might think is it not worth all the aggravation.

After serving an eviction notice, it currently takes between six and eight months to get a property back.

Speaking after Prime Minister Liz Truss’s ‘non U-turn’ when she reaffirmed the government’s intention to scrap Section 21, he says perfectly good tenants who have lived in a property for years might find themselves being evicted – especially when the impact of the rising cost-of-living hits.

“Landlords might need to sell the property…they are worrying about the economy and rent arrears and anti-social behaviour,” Shamplina told Talk Radio‘s Ian Collins.

“We’ve seen a big rise in interest rates, so if landlords find themselves in a mortgage deficit and with a lot of landlords heavily taxed – particularly as the majority have only got one to three properties – they might say they don’t want to be a landlord anymore.”

Shamplina advised landlords to understand where they want to be on their landlord journey, to treat it as a business and make sure they always communicate with tenants.

“Tenants need to feel that the property is their home and landlords still need to see that tenants are their customers – without them there’s no rent,” he added.

Learn more about the evictions process.

View Full Article: SHAMPLINA: Evictions ban will kill landlord confidence unless courts are upgraded

Private and social housing tenants urged to join rent strike

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Campaigners are warning that unless the government imposes an across-the-board freeze on rents and service charges in England, then private and social housing tenants will be urged to join a rent strike.

The warning comes from Social Housing Action Campaign (SHAC) which

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Lettings coalition seeks legal opinion on Scotland’s rent freeze and eviction ban

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A coalition of landlord and lettings bodies is seeking legal advice on the Scottish Government’s rent freeze and eviction ban legislation.

The coalition has been formed between the Scottish Association of Landlords (SAL), Propertymark, the National Residential Landlords Association (NRLA) and Scottish Land and Estates (SLE).

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Shelter admit 10 million landlords rent good homes

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Shelter’s Polly Neate on BBC news Wednesday 12 Oct 2022 approx 07.20 said well over 1 million privately rented homes are not meeting the required standard. Now if there are 11 million private rented homes, does that not tell us that 10 million homes have no problem?

View Full Article: Shelter admit 10 million landlords rent good homes

BREAKING: Welsh parliament rejects Plaid Cymru’s rent freeze proposals

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Wales has walked away from its own version of the Scottish rent freeze after Labour members of the country’s parliament voted against Plaid Cymru’s plans to introduce one, calling for the Government to “protect people not assets” during the cost-of-living crisis.

But following the vote on Plaid Cymru’s proposals, thousands of landlords across Wales will now be spared the convulsions currently taking place in Scotland after its First Minister Nicola Sturgeon revealed emergency legislation to push through her rent and evictions freeze.

It is due to last until at least March, and potentially longer if the cost of living crisis persists.

But the Welsh Labour government, including several key ministers and Member of the Senedd, warned during yesterday’s debate that a rent freeze would have unintended consequences including further shrinking the PRS and leading to a spike in rent increases ahead of any legislation.

Carolyn Thomas, Labour north Wales MS, said: “The time for a private rent freeze isn’t now. The situation is too volatile, complex and risky under the UK government’s political, economic crisis.”

Conservative MS Janet Finch-Saunders said rent controls were a nightmare and that Plaid’s debate was trying to ‘do down’ the private rented sector.

While Plaid Cymru called on Labour Members of the Senedd to ‘be brave’ and push through the rent freeze, Housing Minister Julie James, speaking via Zoom, said her government wanted to “target the support at the people who are most vulnerable and make sure they stay in their homes”.

“We don’t want to drive landlords away from the sector,” she said.

She called on the UK government to unfreeze housing allowance, which has not kept up with rent rises.

But landlords in Wales are not out of the woods yet – as LandlordZONE has reported in the past, ministers are still considering rent controls following the publication of a White Paper earlier this year.

The NRLA says: “We share the same goal as the Welsh Government on private rented housing – we want a sector that
is affordable, accessible and that works for both tenants and the vast majority of landlords who are fair and responsible.

“Ultimately, however, the drawbacks that will come from rent controls will significantly outweigh any possible short term gains that might be delivered by such a policy, as evidence from both the UK and internationally shows clearly.”

Watch the Senedd debate – 03:32:00 onwards.

View Full Article: BREAKING: Welsh parliament rejects Plaid Cymru’s rent freeze proposals