LANDLORD: ‘Why I’ve been exiting residential and moving into commercial property’

admin    Uncategorized     agents

A leading portfolio landlord in Northern Ireland has vowed to focus on the commercial sector after becoming fed up with the UK’s overbearing tax regime.

Ian Jackson, a Belfast-based property investor and consultant, has offloaded all but 40 of his 142 residential properties in the last few years – 20 of them in the last 12 months – and has started buying commercial properties instead.

“I’ve had to rethink my tactics which was driven by the changes such as Section 24,” he tells LandlordZONE.

“I bought commercial buildings some time ago but have decided to revisit that because the sector isn’t as affected by the tax issues and there is less interference – although it is still challenging, with different pitfalls.”

Jackson has properties in Northern Ireland, Manchester and Scotland which means dealing with three different governments, none of whom are interested in what landlords think.

This is a mistake, he says. “They’ll find out the hard way that zero foresight will cost them more than the extra tax from landlords.

Snapped up

The properties I’ve sold have usually gone to homeowners, which means there are fewer rental properties on the market, while every time we put something on for rent, it’s snapped up in a day.”

Jackson says the housing shortage is here to stay and doesn’t believe government will catch up, ignoring the warning signs and even hard data as they chase votes instead.

He reckons this attitude is particularly hard on new investors with less capital, so that anyone putting money into property will now be questioning their decision.

“It’s taking way too long for landlords’ voices to be heard. It may be too late for landlords like me who are wanting to get out, but the government certainly needs to support younger investors,” he adds.

Find out about protecting your commercial property.

View Full Article: LANDLORD: ‘Why I’ve been exiting residential and moving into commercial property’

Police forces launch cannabis farms campaign targetting landlords

admin    Uncategorized     agents

Police forces across four big UK counties have united to urge landlords and letting agents to join them in their fight against cannabis factories in rented properties.

Four Police and Crime Commissioners or PCCs (main picture) in the southwest counties of Wiltshire, Avon and Somerset, Devon and Cornwall are calling on landlords, letting agents and housing companies to help them drive drugs off the region’s streets.

Specifically, the commissioners want those who rent properties to identify and report suspected cannabis farms.

They are also asking landlords to write to their national trade to raise awareness and ask for greater collaboration to fight cannabis cultivation in communities.

The initiative is part of a region-wide drugs campaign by the commissioners and their police forces known as Operation Scorpion.

It is focussing on the supply chain by organised crime groups and associated crime, in particular cannabis cultivation.

The latest aspect of this is targeting the private rented sector, with landlords and agent being asked to watch out for:

• Tenants who ask for complete privacy – requesting no periodic inspections.
• Blacked out windows and frequent visitors throughout the day and night.
• Light source coming from a property even during the night.

The campaign also includes how letting agents housing companies have a legal obligation to report any concerns, what information should be reported and how to file a report.

Wiltshire Police and Crime Commissioner Phillip Wilkinson (third from left), says: “Communities where drugs are cultivated and dealt are simply fed up with the misery this type of crime brings to their doorsteps.

“Criminals target properties for cultivation and we are calling on all landlords, letting agents and housing companies to be wise to the types of activity that could be happening in their properties.

“This is why we must tackle the issue of cannabis cultivation head on, and this collaborative approach between myself and the other PCCs reinforces the message that no matter where you live in the South West, there is no place for drugs.”

Read more: Landlord who allowed property to be used as cannabis farm jailed.

Main picture: David Sidwick, Dorset PCC, Mark Shelfold, Avon and Somerset PCC, Philip Wilkinson, Wiltshire PCC and Alison Hernandez, Devon and Cornwall PCC

View Full Article: Police forces launch cannabis farms campaign targetting landlords

Co-Op Bank gets in bed with Shelter to make wild claims

admin    Uncategorized     agents

First, it was a claim by Generation Rent that families are being evicted every 15 minutes – but now Shelter has gone one better by saying a family is evicted every EIGHT minutes in England.

The charity says it has calculated the figure by using the number of families living in the private rented sector from the English Housing Survey –

View Full Article: Co-Op Bank gets in bed with Shelter to make wild claims

Co-op Bank and Shelter slam Government over stalled evictions reform

admin    Uncategorized     agents

Shelter has this morning launched a campaign in partnership with the Co-operative Bank to persuade the Government to press ahead with its proposal to abolish Section 21 evictions.

The two organisations have launched a PR stunt on Parliament Square today covering it with 172 cardboard boxes, each one representing the number of families evicted by private landlords every day.

This figure is based on Shelter’s analysis of a YouGov poll, funded by The Co-operative Bank, that reveals more than 188,000 private renters with children have received a no-fault eviction notice in the last three years.

Shelter says it is frustrated that the Government’s Renters (Reform) Bill, which entered parliament in May this year, will now not see its second reading until after the Summer recess.

It includes the proposals to ban ‘no fault’ Section 21 notice evictions which many landlords rely on to remove tenants in breach of their contracts.

Failing renters

Polly Neate (pictured), Chief Executive of Shelter, says: “The government is failing renters by stalling on the Renters (Reform) Bill.

“For each day that MPs are off on their six-week summer break, another 172 families will be hit with a no-fault eviction notice, giving them just two months to pack up and leave their home.  

“With private rents rising rapidly and no genuinely affordable social homes available, those with an eviction pending face an increasingly hostile situation.  

Fighting talk

Nick Slape, CEO of The Co-operative Bank, adds: “Fighting poverty and inequality across the UK is extremely important to our customers, and that’s why we’re campaigning on this issue alongside Shelter.  

“We were encouraged to see this bill brought to parliament, but we need to see tangible action from the government now. Families across the country are depending on it.” 

View Full Article: Co-op Bank and Shelter slam Government over stalled evictions reform

Government reveals EPC cost upgrades for PRS homes

admin    Uncategorized     agents

Energy efficiency improvement costs for some private rented sector homes could cost nearly £15,000.

The English Housing Survey for 2021-2022 reveals 19% of PRS homes could cost between £10,000 and £15,000 to improve to at least an EPC rating of C.

View Full Article: Government reveals EPC cost upgrades for PRS homes