Regulation of short term lets would help landlords

admin    Uncategorized     agents

Despite offering opportunities for letting agencies and landlords, the fast-growing short-term lettings market could benefit from regulation, according to PayProp. The professionalisation of short lets, akin to that seen in traditional lettings, is needed to provide the necessary protection for all stakeholders.

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Safeagent manifesto calls for streamlining not scrapping of licensing

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Safeagent, a not for profit accreditation scheme for lettings and management agents, has released it’s own manifesto of policies for political parties to consider promising the Private Rental Sector going into the December general election. Click here to download the full document.

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11% of all homes let by overseas landlords

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The proportion of homes in Great Britain let by overseas based landlords rose to 11% during the first 10 months of 2019, up from 7% (a record low) during the same period last year. This is the first year-on-year increase since our records began in 2010 when 14% of homes were let by non-UK based landlords.

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Buy to Let is still stable

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Paragon’s latest Financial Adviser Confidence Tracking (FACT) Index , based on interviews with 201 mortgage intermediaries, has revealed:

– Buy-to-let increases from 15% to 17% of business in Q3 2019

– Intermediaries expect buy-to-let mortgage business to increase by 1% in the next 12 months

–

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Wales fees ban: Welsh Government publishes default fees consultation responses

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The Welsh Government confirmed that it intends to bring forward regulations to provide clarity on what landlords will be able to charge in respect of default payments, as part of the Wales fees ban, in the New Year. The tenant fees ban in Wales was introduced on 1st September 2019. Unlike the Tenant Fees Act,introduced in […]

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A day in court with Shelter and council’s impartiality part 2

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I finally got a reply! Here is my original article “A day in court with Shelter and the council’s impartiality?” We got an email about another property of ours:

Hi Xxxx

I am emailing with regards to the above letter that was sent to Xxxxxx on 14th October 2019.

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Bare Trust as IHT mitigation tool?

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I wonder if anyone could comment on this case.

Two sisters own an unencumbered (mortgage free) leasehold flat with share of the freehold on the residue of a 999-year lease, value approximately £1.2-1.5 million, in London as tenants in common.

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General Election 2019 – What we know so far

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Ahead of political parties launching their election manifestos over the next week, we look at some of the statements politicians from each of the three major parties have made when it comes to housing – and in particular the private rented sector. You can also check out the RLA’s six-point election manifesto which has been […]

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Welsh Government to pilot lease scheme for private landlords

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This week, the Welsh Government announced plans to introduce a pilot ‘lease’ scheme for private landlords, designed to increase housing stock in the country. The scheme would mean that local authorities in Wales would manage private rented stock themselves on behalf of landlords. In return, landlords would receive a guaranteed rental income at Local Housing […]

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Minister takes rent controls off the table…

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Rent Controls:

In a pre-elction
boost for buy-to-let landlords, housing secretary, Robert Jenrick has
indicated that he is not in favour of rent controls in the private
rented sector (PRS).

This comes as
officials have been discussing ending section 21 possession orders,
the two-month eviction notice that landlords can use to end a tenancy
without having to give a reason – the so called “no-fault”
eviction process.

Previous,
restrictions on rent increases in the PRS had been mooted as part of
the Government consultation on section 21 by a Housing, Communities
and Local Government select committee.

Mr Jenrick had said:

“I am not in
favour of rent controls. As I said, that has proven to be very
negative for both landlords and tenants in the past, and I do not
want to see any move in that direction.”

It was though
previously that rent controls would have to be part of any section 21
reforms as there was concern in some quarters that landlords would
simply use “rent hikes” to remove tenants if they lost their
‘no-fault eviction’ process.

The consultation
rubric had stated that:

“The Government is
clear that there must not be any mechanism for landlords to force a
tenant to leave the property by including clauses in fixed-term
tenancy agreements which hike up the rent by excessive or
unreasonable amounts just before the agreement is due to expire.”

However, rent
controls have received strong backing from London mayor Sadiq Khan,
who will make the issue part of his 2020 Mayoral re-election
campaign, similar to the policy outlined in the Labour’s Party’s
2017 election manifesto.

Rent controls or
some variant of them (rent stabilisation) have been introduced in
Scotland, the Irish Republic and in some countries in Europe. But
England has not seen rent control legislation since the Rent Acts,
pre 1989 when Margaret Thatcher’s government deregulated the
industry setting loose an unprecedented grow spurt in renting.

David Smith, of the
Residential Landlords Association trade body, told The Daily
Telegraph:

“We welcome the housing secretary’s recognition that rent controls are ultimately bad for tenants. All the evidence from around the world where they have been introduced shows that they reduce supply and drive up cost, making the situation for tenants worse.”

Consultation – A new deal for renting

The government mulls the return of rent controls

The Problems with Price Ceilings: Rent Controls – a YouTube Video

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