Buy a vacant BTL and have up to 6 months to refurbish it using final rental figure for affordability

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A brand new product was launched on the 17th of January for landlords who want to carry out light refurbishments. Light refurb means new bathrooms, kitchens, and non-structural redecorations.

These new products from Suffolk Building Society use the estimated rental income after the work has been carried out

View Full Article: Buy a vacant BTL and have up to 6 months to refurbish it using final rental figure for affordability

Rent rises set a record in 2023 amid landlord costs and housing shortage

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Renters in the UK paid an extra £1,488 per year on average in 2023 as rent prices soared by a record high of 10.2% year-on-year in December, according to a new report.

The research from Hamptons, found that rent prices broke 2022’s record of 7.7%.

View Full Article: Rent rises set a record in 2023 amid landlord costs and housing shortage

Working tenant wants to bring long term boyfriend?

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Hi, I have a working tenant who wants to bring her boyfriend to live with her. Her tenancy says just her and we have rent guarantee insurance.

She says she will continue to be responsible for the rent and does not want to add him to the tenancy.

View Full Article: Working tenant wants to bring long term boyfriend?

Landlords are owed an average of £725 in arrears

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A survey has found that nearly 60% of UK landlords have seen a rise in late rent payments due to the current financial situation, and that landlords are each owed an average of £725 in arrears.

The research from digital mortgage lender Molo also reveals that one of the main concerns for landlords in 2024 is the possibility of tenants not being able to pay their rent

View Full Article: Landlords are owed an average of £725 in arrears

Region with the best house price growth in Britain revealed

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One region has outperformed all other regions of Britain in terms of house price growth since the Bank of England began to hike interest rates in December 2021, a study reveals.

According to GetAgent.co.uk, it used seasonal adjustment to measure the true state of the housing market.

View Full Article: Region with the best house price growth in Britain revealed

The random rolling out of HMO definitions?

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The Department of Levelling Up has provided the opportunity for local authorities to roll out their own legislation under the umbrella of their more penal HMO regulations covering all kinds of bizarre areas.

I have been caught out as I have 4 tenants (Parliament says 5 or more the London boroughs have reduced the number to qualify to 3) I have had to install institutional lighting and other intrusion items at a cost of £5000.

View Full Article: The random rolling out of HMO definitions?

Buy to let incorporations surge despite property market slump

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The property market saw a decline in the number of homes purchased by landlords in 2023, but this did not stop the growth of buy to let companies with a record 50,004 new limited companies being formed, research reveals.

According to Hamptons

View Full Article: Buy to let incorporations surge despite property market slump

It’s time for a Good Tenants Charter – but what should be in it?

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This week saw a cornucopia of stories that illustrate the current wrong thinking on the private rented sector – and that landlords are the fault for everything.

First up is Andy Burnham’s political nonsense, the ‘groundbreaking’ Good Landlord Charter.

View Full Article: It’s time for a Good Tenants Charter – but what should be in it?

Should I rent out a dilapidated property?

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Hello, We have a property in the family that we have taken back into possession after a very long rental term, circa 50 years. As you could imagine it is now quite dated and run down inside. All still functional just in need of modernisation all the way through.

View Full Article: Should I rent out a dilapidated property?

Rents fall slightly in December to offer tenants ‘a minor win’

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The UK’s rents for new tenancies dipped by 0.9% in December 2023, reaching £1,268 which is still 8.01% more than the same month in 2022, the HomeLet rental index reveals.

The average rent, excluding London, was £1,061, a 0.5% decline from November 2023

View Full Article: Rents fall slightly in December to offer tenants ‘a minor win’