The UK’s best and worst rental yield spots revealed

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Research that could help landlords and potential property investors alike has been published that highlights the best and worst rental yield spots in the UK.

According to Track Capital it has never been more important for investors to weigh up the facts before choosing an area that is right for investment.

View Full Article: The UK’s best and worst rental yield spots revealed

Ringleaders of shocking illegal HMO property gang fined £434,000

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The activities of a huge HMO renting scam gang has been uncovered following a four-year investigation, with the five key individuals and three companies involved fined a total of £434,000.

Following an investigation by West Northamptonshire Council’s Private Sector Housing Team, it was found that the group had been operating at least 14 unlicenced HMOs in the region.

Its investigation also discovered multiple breaches relating to fire safety, tenant information and maintenance of the properties after an initial probe in 2019 and Housing Warrants to inspect homes in 2020 and 2021.

False and misleading

The council says the five individuals used a range of false and misleading documents to acquire properties from high street letting agents, purporting to be taking on properties for themselves as single family properties before converting them to HMOs.

They then set up companies to handle the rent payments between themselves, the tenants and the property owners.

Following a trial, the gang has now been found guilty of a “deliberate, large-scale operation of falsity and that the defendants broke safety laws with no regard to the safety of the tenants, engineered solely for financial gain and profit”.

The ringleader was Aleksejs Cugurovs, 33, of St Leonards Road, Northampton (pictured), who must now pay a fine of £270,000 – with a contribution to the Council’s investigation costs of £5,000.

The other defendants included Maxims Borozdins, 37, who was fined £30,000 with a costs contribution of £5,000, and Valdims Oblikovs, 33, of Riga Latvia, who was fined £2,000.

Other individuals and companies involved, who were not represented in court, were fined lesser amounts.

Cunning and conniving

Councillor Adam Brown (left), Deputy Leader and Cabinet Member for Housing, Culture and Leisure, said: “This was a well-planned, cunning and conniving scheme for the purposes of financial gain.

“I am pleased the court has imposed a substantial fine which will hopefully deter rogue landlords and persuade them to comply with the law in future.

Read more about HMO fines.

View Full Article: Ringleaders of shocking illegal HMO property gang fined £434,000

‘Revenge evictions’ following tenant repair requests still common, says Shelter

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Private renters who complained to their landlord, letting agent or local council in the last three years were two and a half times (159%) more likely to be handed an eviction notice than those who kept quiet.

New research from Shelter – compiled by YouGov using online survey results from 2,000 renters – also reveals that a quarter of private renters in England (25%) have not asked their landlord for repairs to be carried out or conditions to be improved for fear of being evicted.

Disrepair

It says that in the last year, 76% have experienced disrepair in their home, 51% had issues with damp and mould, 31% had problems with lack of hot water or heating, and 18% experienced electrical hazards or issues with essential safety equipment.

Shelter reports that since the beginning of the year, its online advice pages on disrepair have been accessed every 18 seconds, a 53% increase on the same period last year.

The charity is urging the government to urgently introduce the Renters’ Reform Bill to put an end to unfair evictions, drive up standards, and hold landlords to account for poor behaviour.

Chief executive Polly Neate (pictured) says that by dragging its heels, the government has left private renters in a terrible catch-22; they either shut up and put up with disrepair, or risk more than doubling their chances of eviction in a cost-of-living crisis.

“Renters are bearing the brunt of government dithering over urgently needed private rental reforms,” adds Neate.

“Renters can’t wait any longer, the government must urgently make its Renters’ Reform Bill law to protect tenants who call out poor conditions from unfair evictions and homelessness.”

Read more: How to handle the eviction process.

View Full Article: ‘Revenge evictions’ following tenant repair requests still common, says Shelter

Ever seen a McDonald’s employment contract like this?

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Hi all, Has anyone ever come across a McDonald’s work contract in the course of tenant referencing?

This is the one that was sent to me earlier this week:

Dear N
Employment details
We’re delighted to confirm your appointment as Crew Member with McDonald’s at our restaurant situated at BRISTOL ….

View Full Article: Ever seen a McDonald’s employment contract like this?

Landlords will have until 2028 to hit EPC target – claim

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Landlords will have five years to reach planned EPC targets for ALL rented homes, and the new cap on costs will be £10,000, a newspaper reveals.

The Telegraph says the government will announce the new deadline after responding to fears that landlords do not have time to meet the proposed 1 April 2025 target.

View Full Article: Landlords will have until 2028 to hit EPC target – claim

App that helps tenants fix their own leaks launches service for landlords

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National video maintenance platform Help me Fix is extending its reach to more self-managing private landlords with the launch of a new service.

The software virtually connects tenants to tradespeople who can resolve simple maintenance issues remotely and for more complicated ones, recommend the right parts for a first-time fix, eliminating the need for an initial call-out fee.

While it has mostly worked with letting agents and portfolio landlords since launching in 2020, its new Hub service is a specifically landlord-facing software product which can automatically request quotes from a landlord’s own contractors or auto-instruct in an emergency after a call.

Hub also has a national network of vetted tradespeople that a landlord can access on demand.

Hub launches in May, charging landlords £10 per property per month for unlimited calls, promising to save them 50% on their maintenance bills.

Founder Ettan Bazil (pictured) tells LandlordZONE that the company is active in more than 20,000 properties in the UK.

He adds: “We have never had an incident where our advice has caused damage to a property, in fact, the reverse applies. Because tenants are usually connected with a tradesperson in under 30 seconds, we prevent major incidents from escalating and causing damage to the property.”

Social media

He recently shared an example on social media (main picture) about how Help me Fix had walked a tenant through disassembling and re-making the trap connections, permanently resolving a leaking basin waste.

Bazil adds: “The resident was happy for us to share the footage and photos and even happier that he had progressed from someone that had never made a plumbing connection to master plumber in 15 minutes.

“All of this without a property manager having to instruct a contractor, no carbon footprint from a diesel-guzzling van, and no call out charge for the landlord.”

View Full Article: App that helps tenants fix their own leaks launches service for landlords

BREAKING: Landlords ‘to be given three more years’ to reach EPC minimum

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Ministers are considering a punitive scheme to fine landlords up to £30,000 if they fail to upgrade their properties to a minimum band C by an extended deadline of 2028 instead of the current 2025.

The Department for Energy Security and Net Zero had previously proposed a deadline of 2025 for newly-let rentals to achieve an energy performance rating of at least C, and a deadline of 2028 for all other rented properties.

But now all rental properties will have to reach the minimum standard by 2028, it is claimed.

This adds fuel to an already flammable debate over how landlords are expected to pay for upgrading properties, particularly in areas where the circa £10,000 to £15,000 costs of meeting the EPC minimum represents a considerable chunk of the bricks and mortar’s value and/or annual rental income – particularly outside London and the SE.

The Daily Telegraph’s report is linked to the Government’s yet-to-be published results from its consultation on the issue, which was launched in earl 2021.

If true, the proposals would see some two million landlords forced to upgrade their properties even though the maximum spend cap will be set at £10,000.

This cap, which was originally £3,500, is the upper limit of expenditure that landlords will be expected to fork out to upgrade properties without being banned form renting them out – or £6,500 more upfront than before.

Read more: 2025 EPC deadline causing confusion.

It is reported that discussions had been held with stakeholders on the proposals, but ‘no decision has yet been made’.

Rik Smith (pictured), Head of Tenancy services at rent guarantee platform Goodlord, says: “I’m sure the sector will welcome the proposed extended deadline to get properties up to standard, but there’s an enormous amount to do before then.”

View Full Article: BREAKING: Landlords ‘to be given three more years’ to reach EPC minimum

Child poverty activist revealed as new leader of Generation Rent

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Generation Rent has appointed charity boss Ben Twomey as its new director, replacing Baroness Alicia Kennedy.

Twomey joins the campaigning group from his current role as director of policy and communications at the National Youth Advocacy Service and has promised to lead Generation Rent’s efforts to secure better rights and protections for the UK’s private renters.

The group believes its long-running campaigns around abolishing Section 21 evictions and introducing a national registration scheme for landlords in England encouraged the government to announce the Renters Reform Bill, which Twomey says is a huge opportunity to transform renting at such a critical time.

“There’s still a lot of work to be done to make sure it delivers real improvements in the lives of those of us whose only option is to rent,” he adds.

Deepens

“As the cost-of-living crisis deepens, I will be making the case that everyone deserves to live in a safe, secure, and affordable home.

“I look forward to working with the team at Generation Rent to build on their achievements and keep making renters’ voices heard in the corridors of power.”

Generation Rent’s outgoing director, Baroness Alicia Kennedy (pictured), says: “I am immensely proud of what the team has achieved in the past three years.

“The organisation is in a very strong place to continue leading the public debate on renting and I know Ben will do a fantastic job in the months and years ahead.”

View Full Article: Child poverty activist revealed as new leader of Generation Rent

How to Evaluate a Potential Real Estate Investment Opportunity

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Evaluating a potential real estate investment opportunity can be stressful. There are many factors to consider, including market conditions and property prices. However, it’s also important to consider whether your plan for improvements will be successful in increasing the value of the property over time. In this blog post, we will explore strategies for evaluating real estate opportunities so that you can make an informed decision about whether or not investing in a particular property is right for you.

The property must be located in a favourable market.

Property must be located in an area with a favourable market like the upcoming Pine Tree Hill located at Pine Grove. This means it must be located in an area with a growing population, economy, and several businesses.

A growing population means more potential buyers who can purchase your real estate investment property. Likewise, a growing economy means more jobs (and thus more people with money to spend). For example, suppose you are looking to buy an apartment building or commercial office space. In that case, the number of businesses near your property will also determine how much rent you can charge for it because these companies may need more space as they grow and expand their operations over time.

The rent must be well above the current market average.

You should also ensure that the rent is high enough to cover all your expenses, including real estate taxes and insurance. If you plan to finance your investment property with a mortgage loan, be sure that the rental income will cover both principal and interest payments.

Finally, if other similar properties in the area rent at below-average rates (and if they’re not vacant), there may be something wrong with this particular property and its location.

The property must be in a desirable neighborhood.

The first thing that you need to consider is the neighborhood. If it’s not in a desirable area, you may need help selling your property later. So how do you know if a neighborhood is desirable?

The answer depends on what type of buyer you hope will purchase your investment property. If you want someone to live there and call it home, they’ll care about access to local amenities and stores/restaurants nearby (or lack thereof). They’ll also want good schools if they have kids who go there; otherwise, they might not be able to sell their home as quickly when they decide they want out of town because no one else wants their kid to go there.

If what matters most is convenience and low cost-of-living (which makes sense if all they’re doing with those properties is renting them out), then look at things like proximity between where people work versus where they live–how long it would take someone from each job site? How many jobs do those companies offer locally? What kind of commute times can we expect if we move here?

Your plan for property improvements must make sense.

• Don’t overcapitalize on improvements.
• Don’t put money into things that don’t need to be improved.
• Don’t put money into improvements that will not improve the property’s value.

Your plan for property improvements must make sense and be well thought out before you start spending money on it.

If you’re looking for a good investment, it’s essential to consider the market and neighbourhood. The best way to do this is by talking with locals who have lived in the area for years and checking out community boards and other online resources that can provide information about local trends. You should also consider hiring an appraiser or real estate agent who knows the area well enough to help determine whether or not there will be demand for what type of property you want to build (or renovate).

View Full Article: How to Evaluate a Potential Real Estate Investment Opportunity

Landlords selling up will keep rent inflation high

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The latest rental market report from Zoopla offers tenants little hope that rents will begin falling any time soon – as landlords ‘rationalise their portfolios’ or leave the market altogether.

Zoopla says that rent inflation in March has slowed to 11.1% –

View Full Article: Landlords selling up will keep rent inflation high