Farm Tenancies offer little security argues the TFA

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Rural Land:

The Tenant Farmers’
Association (TFA) says that rural landlords are now offering
‘cripplingly low’ security of tenure to their tenant farmers.

This, argues the
TFA, simply results in short termism – the short-term nature of
agricultural tenancies is crippling progression, investment,
sustainable land use and productivity on farms, it says.

The TFA thinks it is
‘unacceptable’ that 90% of farm tenancies let in 2018 had terms of
five years or under, while newly released figures show that security
of tenure on agricultural tenancies continues to decline.

These figures are
gleaned from statistics produced by the Central Association of
Agricultural Valuers (CAAV) in its annual Agricultural Land
Occupation Survey recently released. They show another worrying
decrease in security of farm tenure in 2018 in comparison to the
previous year.

There is currently
much higher demand for farm land than there is supply. This means
that it’s a landlord’s market, allowing owners to offer
short-term from tenancies at high rents, with little risk of void
periods. In addition, agricultural landlords have the benefit of
“generous and unconstrained” tax concessions, which the TFA is
arguing needs to be addressed.

These CAAV figures
report that the average length of tenancy on all farm business
tenancies granted in 2018 decreased from the 2017 figure of under
four years, to below three years.

When sub one-year
tenancies are excluded, that means the average tenancy length has
dropped from just below five years to four years overall last year.

Even fully equipped
holdings, which once would be expected to be let for much longer
periods, have seen reductions to just seven and half years in 2018,
which in most cases is around half the length of term seen two years
previously.

In 2018, in what the
TFA says is an ‘unacceptable’ situation, that 90% of farm tenancies
let in 2018 had terms of five years or under. Furthermore, 63% of all
new lets are offered were for under two years and on the most
insecure terms.

Chief executive of
the TFS, George Dunn, has said:

“These statistics
are simply dreadful. Everyone agrees that long-term relationships are
the best way to achieve positive outcomes for landlords and tenants.

“Yet, the market
is failing to deliver efficient or sustainable outcomes, in fact, it
is going backwards.

“It is now urgent
that the government steps in to address this major market failure, in
a sector that makes up one third of all UK farmland and where FBTs
represent about half that area.”

Mr Dunn added: “The
best way to do this would be through the taxation environment within
which rural landlords make decisions about letting land to encourage
longer term FBTs.

“However, with the
government cancelling next week’s Budget, another opportunity to
change this terrible situation will be missed.”

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Number of regulations have increased by 32% since 2010

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The number of laws creating an obligation on private landlords has increased by 32% since 2010. According to a new analysis by the Residential Landlords Association, the total number of regulations affecting landlords has increased to 156, up from 118 when the Conservative-led coalition government came to power.

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Landlord regulations up by a third

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The number of laws creating an obligation on private landlords has increased by 32 per cent since 2010. According to a new analysis by the RLA, the total number of regulations affecting landlords has increased to 156, up from 118 when the Conservative-led coalition government came to power.  The RLA is warning the increase in […]

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The hybrid letting agency that’s bucking all trends

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In the midst of one of the UK’s largest online letting agencies closing its doors to new business and others losing money raised from Crowdfunding hand over first, LettingSupermarket.com are well and truly bucking the trend.

They successfully completed two crowdfunding campaigns in 2015 and 2016 and raised £375,000 of seed funding from 121 investors to help grow the business.

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Borough-wide licensing in Islington could lead to rent increases-RLA

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A borough-wide licensing scheme that has been proposed in Islington could lead to rent increases if it is introduced, the RLA has warned. Islington Council is proposing to introduce a borough-wide additional HMO licensing scheme, and a selective licensing scheme to cover all properties in the Finsbury Park ward not already covered by mandatory licensing. […]

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LLP or LTD for mixed age Joint Venture

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LLP or LTD Co.? We are a group of 4 individuals – all 40% tax payers looking to do a Commercial to Residential flip. Gross Development Value (GDV) £2.2M Net profit £450k (when the last of the 12 Residential units has sold!)

We will be borrowing from friends and family as well as the “banks”

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Watch out how you describe threatening tenants to the police

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I had cause to report the threatening behaviour of a male tenant to the Police. The tenant was British White in terms of appearance. I did not mention this and reported nothing about either his nationality or his appearance.

I then hear back from Kent Police that there were “racial undertones” in my reporting this tenant!

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RLA has published its own election manifesto…

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Landlords’
Vision:

With a general
election pending and the private rented sector (PRS) in crisis the
Residential Landlords Association has set-out a six-point manifesto
unveiling what it says is a “positive vision for the private rented
sector.”

Arguing that instead
of constant meddling, what the PRS needs is “a positive, ambitious
programme for the sector, which supports tenants and good landlords,
whilst at the same time rooting out the crooks who have no place in
the sector.”

The positive view of
the PRS is that 84 per cent of private tenants are satisfied with
their accommodation – a higher proportion than in the social sector –
and that private tenants stay for an average of four years plus. I
addition – despite misconceptions promulgated by the popular media –
88 per cent of private tenancies are ended by the tenant, says the
landlords’ association.

Its manifesto
stresses the importance of the private rented sector: “an important
source of housing for growing numbers of families with children,
older people, the homeless, students and young people who need to
swiftly access new work and educational opportunities.”

Key proposals
include:

• improving
  access to justice for tenants and landlords when things go wrong by
  developing a housing court,

• supporting
  vulnerable tenants by ending the Local Housing Allowance cap and
  ensuring councils have the resources to find, and
• rooting out
  criminal landlords using the wide range of powers they already have.

The RLA warns of
“noticeable rent rises as a result of the demand for private rented
housing outstripping supply”, and it calls on all parties involved
to boost supply by scrapping the Stamp Duty levy on additional
properties where landlords provide homes adding to the net supply of
housing.

Rent controls, the
RLA argues, should be rejected out of hand as they would serve only
to “dry up the supply of homes to rent”, and they would reduce
choice for tenants and thereby increasing rents overall.

David Smith, Policy
Director for the RLA, has said:

“For too long we
have let the actions of a minority of landlords who bring the sector
into disrepute dictate the debate around rented housing. Whilst we
must find and root out such people we cannot let it distract from the
positive news in the sector.

“The vast majority
of landlords and tenants enjoy good relations, with many tenants
staying long term in their rental properties.

“It is important
that we build upon this record, ensuring pro-growth policies to
ensure a sufficient supply of homes to rent, supporting vulnerable
tenants and ensuring tenants and landlords can access justice more
quickly if things do go wrong.

“We call on all
parties to accept our positive, pragmatic programme for the sector
and end the unnecessary scaremongering which is causing many tenants
to live in fear.”

The RLA’s election manifesto

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Welsh Housing Minister to speak at RLA Wales conference

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THE Welsh Housing Minister, Julie James AM, will address landlords, agents and property professionals at the Residential Landlord Association’s Future Renting Wales conference next month.

The third annual conference, in Cardiff, will be held at the city’s Jury’s Inn on November 28th offering landlords a valuable insight into the future of the private rented sector in Wales.

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Housing Minister to address RLA Wales conference

admin    Uncategorized     agents

The Welsh Housing Minister, Julie James AM will address landlords, agents and property professionals at the Residential Landlord Association’s Future Renting Wales conference next month. The third annual conference, in Cardiff, will be held at the city’s Jury’s Inn on November 28thoffering landlords a valuable insight into the future of the private rented sector in Wales. With the […]

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