Why do I consider Landbay a specialist BTL lender?

admin    Uncategorized     agents

Landbay’s Buy to Let Mortgages proposition is new and improved for 2023 and their criteria list below shows why they should be considered a serious specialist lender for the property rental market. Interesting? How many other lenders can offer all of this?

View Full Article: Why do I consider Landbay a specialist BTL lender?

Alphaletz is now FREE

admin    Uncategorized     agents

Modern software is saving landlords 50%-75% of their time and Alphaletz cloud-based software has announced today that they are now GIVING AWAY a free plan which allows users to connect their bank account, with full functionality from their desktop and mobile device!

View Full Article: Alphaletz is now FREE

OFFICIAL: Half of PRS properties tracked by ONS saw rent rises last year

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More than half the privately rented properties in England saw a rent rise in the last year, according to new figures from the Office for National Statistics.

It reports that 50.6% of properties in England experienced a price increase in February compared to 36% in February 2022. However, the ONS admits that tenancies may have changed between visits, meaning that the figures don’t show how many tenants saw a rise in rental costs.

The new figures come as Housing secretary Michael Gove has vowed to stop unscrupulous landlords from raising rent well above inflation.

Speaking on the BBC’s Sunday with Laura Kuenssberg programme, the Minister said he did not think it was acceptable that some were increasing their rents by 20-30% at a time when many people were struggling with the rising cost of living.

Gove added: “In every market there will always be actors who will attempt to exploit circumstances in their interests, not in the public interest.”

He promised that the government’s rental reforms would “look at how the private rental sector can be better regulated”, although he ruled out the idea of rent caps or freezes.

Unscrupulous

“We do need to make sure that we protect tenants from unscrupulous landlords as we also give landlords the power to get rid of anti-social tenants as well,” Gove said.

According to the ONS, London renters were most likely to be paying more this year (66.8%) with those in the North West the least likely (27.9%).

The average price increase was 9.7%, up from 7% in February 2022, with those in the capital also seeing a larger average price increase (12%) than the England average. Since early 2022, flats and maisonettes have experienced the highest average percentage rental price change of all property types in London.

View Full Article: OFFICIAL: Half of PRS properties tracked by ONS saw rent rises last year

BBC’s Panorama – The return of ‘slum landlords’

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A BBC investigation will highlight that council houses that were built to house tenants to protect them from ‘slum landlords’ have been sold under the Right to Buy scheme and are now being let by ‘slum landlords’.

Lord Richard Best

View Full Article: BBC’s Panorama – The return of ‘slum landlords’

Is new Freeholder liable for previous overcharging?

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Hello, I live a in block of flats where the former freeholder (the company is now dissolved) overcharged the service charges: the percentages we paid added up to more than 100%.

The new landlords are fixing the problem but they bought the freehold in 2016.

View Full Article: Is new Freeholder liable for previous overcharging?

PODCAST: Leading legal expert highlights latest law updates for landlords

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Hosts Eddie Hooker and Paul Shamplina of the HFIS group are joined by David Smith, Head of Property Litigation at JMW Solicitors, legal advisor to the NRLA and a regular face in national media trusted for advising the private rented sector.

With the Renters’ Reform Bill due to be laid before Parliament imminently, this podcast taps into David’s legal expertise, taking a deep dive into the nitty gritty of lettings law and holding them to scrutiny. What are the limitations of the Renters’ Reform Bill from a lawyer’s perspective?

To kick off the discussion, David describes the background to the recent Rakusen v Jensen rent repayment order case, where he acted as legal advisor to the NRLA.

The landmark Supreme Court case illustrates how the interpretation of legislation changes over time, he explains. With an increasing number of ‘property gurus’ damaging the reputation of the sector with their ‘get rich quick’ schemes, perhaps the Government should be taking the opportunity to reform rent to rent rules as part of the Renters’ Reform Bill, says David.

You can also watch this video Q&A in which LandlordZONE editor, Nigel Lewis, asks Eddie Hooker, should rent to rent be regulated?

When it comes to the issue of property condition, already a major focus for reform through the proposed application of the Decent Homes Standard to the private rented sector, will the tragic death of Awaab Ishak be a milestone? The difficulty, argues David, is how any legislative change will be matched by enforcement, which has been consistently weak.

With so many increasingly complex legal changes to contend with, should landlords take on a professional agent to manage their property? Not necessarily, says David – if the agent gets it wrong, the fact the landlord instructed an agent is no defence, and it’s not currently possible to seek a rent repayment order against an agent. Should agents have to take more responsibility, or should educating landlords be enforceable in England, as it is in Wales?

Tune in to hear detailed discussion on these questions and a wide range of topics, including the proposed new property portal for landlords in England, the remit of landlord redress, the introduction of fixed term tenancies, student lets, new grounds for possession, whether agents without a bank account are in breach of client money protection law, and more.

They may not have all the answers, but this podcast will provide you with informed opinion and lively debate.

The latest episode of The Property Cast – an in-depth legislation special – is now available to download.

View Full Article: PODCAST: Leading legal expert highlights latest law updates for landlords

Revealed: Chain-free property market hotspots

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There has been a rise in the availability in chain-free properties in 21 major cities, according to a new report.

House Buyer Bureau reveals that chain-free stock availability has increased by 3.4% since June 2022, rising from 36.6% of all available homes to 40%.

View Full Article: Revealed: Chain-free property market hotspots

Tenant makes unusual crowdfunding plea to pay £12,000 ‘upfront’ rent

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A mature international student has turned to a crowdfunding site to raise £12,000 after his landlord demanded a year’s rent upfront.

Mohamed Elsawwah, who lives in Birmingham with his wife and three children, has been studying international business in the UK for the last eight months and is trying to raise the cash in an appeal on Crowdfunder. He has yet to attract any donors.

“I moved here to pursue higher education, but due to visa restrictions, I am not allowed to work to support my family,” says Elsawwah.

Dire need

“Unfortunately, our landlord has asked us to pay 12 months’ rent in advance, which we cannot afford at the moment. We are in dire need of your support to help us raise the required funds and avoid becoming homeless.”

He adds that as well as applying for grants and scholarships, he’s looking for fundraising ideas to help reach his goal.

Adds Elsawwah: “We understand that these are challenging times, and many people are facing their own financial difficulties. However, we are grateful for any support that you can provide and promise to pay it forward once we are in a more stable financial position.”

Graham Hayward, COO at rent guarantor service Housing Hand, says it’s clearly a ridiculous situation and exactly why his company was formed in the first place – more than 10 years ago.

“If he can share his student credentials and provide a co-signer we would be happy to assist,” he tells LandlordZONE. “Occasionally landlords are fussy on who the guarantor is, but we have a 100% pay-out record and are backed by a highly rated insurance company.”

Read more about rent guarantors.

View Full Article: Tenant makes unusual crowdfunding plea to pay £12,000 ‘upfront’ rent

BREAKING: Landlords to be given more powers to evict ‘unruly tenants’

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The Government is preparing to compromise over its plans to abolish Section 21 ‘no fault’ evictions by beefing up landlords’ ability to eject ‘unruly’ tenants including those involved in anti-social behaviour, the Prime Minister has revealed.

The initiative is part of the Government’s Anti-Social Behaviour Action Plan launched tomorrow morning (27th March) which will a wide-ranging initiative to crack down on anti-social behaviour including “giving landlords and housing associations more powers to evict unruly tenants who ruin their neighbours’ lives through persistent noise or by being drunk and disorderly”.

This would be appear to allay many landlords’ fears that abolishing Section 21 evictions will prevent them removing tenants who terrorist neighbours and, in the case of HMOs, fellow tenants through violent or intimidating behaviour.

Other measures within the plan include bigger fines for graffitti and littering, sprucing up green areas and parks, and re-opening empty shops.

Housing secretary Michael Gove (pictured) says: “Anti-social behaviour erodes local pride, blights our high streets and parks and is a stain on too many communities across the country.

“We know that it is more likely to flourish in areas that have, for too long, been overlooked and undervalued.”

No Explanation

“Plans to end ‘no explanation’ repossessions risk making it harder to tackle such behaviour,” says Ben Beadle (pictured), Chief Executive of the National Residential Landlords Association (NRLA).

“Whilst we will study the detail of the Government’s plans carefully, we welcome its commitment to strengthen the ability of landlords to evict unruly tenants.

“It follows extensive campaigning by the NRLA to ensure swift and effective action can be taken against those causing misery in their communities.

“The law must be on the side of the victims of anti-social behaviour and we are glad that the Government agrees.”

Polling by the NRLA found that half of landlords have at some point attempted to repossess a property because of a tenant’s anti-social or criminal behaviour.

Of this group 84 per cent had received no help in tackling it from their local authority and 75 per cent had no assistance from the police in dealing with anti-social tenants, the NRLA says.

Commenting on his Government’s new initiative, Prime Minister Rishi Sunak says: “This action plan maps out how we will tackle this issue with the urgency it deserves and stamp out these crimes once and for all – so that wherever you live, you can feel safe in, and proud of your community.”

View Full Article: BREAKING: Landlords to be given more powers to evict ‘unruly tenants’

Inspired by a new generation of property investors

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Dear Property118

The latest videos you have published on your Property118 TV YouTube channel were very timely for me because I was on the verge of throwing the towel in following the barrage of bad news for property investors in recent years.

View Full Article: Inspired by a new generation of property investors