As the UK Government battles growing criticism on various fronts, watchdogs and industry bodies are sharing their dissatisfaction. A recent report from the National Audit Office (NAO) suggests government regulation of the Private Rental Sector (PRS) makes it unfair towards renters. That's a view that lettings professionals and even some MPs have shared in the past week or so.
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As gas prices continue to climb, many tenants are becoming increasingly concerned about their energy costs. Some argue that, however careful they are about their usage, their ability to keep bills under control is hopelessly compromised in less energy efficient properties – and that landlords should be doing their bit by making upgrades where necessary.
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As we near the end of a whirlwind 2021, many people are considering their plans for the coming year, including potential investment options. If Buy-to-Let (BTL) investment is on your wish list for 2022 - as a new landlord or expanding your existing portfolio - then some recent research might be helpful. An annual BTL city tracker details some key elements property investors look for, giving you a good idea of what kind of price you can expect to pay and also the potential yield you could secure.
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While much is often made of unscrupulous landlords in the UK’s still growing Private Rental Sector, research based on official data shows that thanks to investment from buy-to-let landlords, the standard of rental properties in the PRS has actually improved dramatically over the past ten years. Indeed, thanks to refurbishment by PRS landlords, which costs an average of £12,000 per property, the proportion of rental homes classed as non-decent has almost halved in a decade.
With so much uncertainty remaining across the UK, it might be difficult to know where to go next with your property investment plans. However, even though Brexit and politics are far from certain right now, a new development in Bracknell suggests the town that is already very much part of the UK's tech corridor, still has some value for residential property and BTL investors.
A recent report has highlighted the UK’s still ongoing housing crisis as it shows that over 600,000 families in England are living in overcrowded conditions. A severe shortage of housing, particularly social housing, means that there are 96,000 more children who are living in an overcrowded home today, than there were a decade ago.
A Private Rental Sector landlord has been banned from the sector and ordered to pay back housing benefit paid to him by Telford and Wrekin council, after he was found not fit and proper to receive an HMO (house of multiple occupation) license. This is the first time a landlord has been banned from the PRS sector since new rules were introduced and is a landmark case.
Two separate reports highlight that while London's property market is still subdued at best, the rental market remains healthy and rents area rising. However, even though rents are rising after being 'too low for too long' according to one report, another confirms what many of us already know; London rents remain unaffordable for over half of the population and will cost over half of a tenant's monthly earnings to afford.
Birmingham City Council has been ordered to pay a landlord over £1,200 in rent arrears after it agreed to pay rent directly to a benefit claimant with a history of arrears, who then left the property with the money, without paying the landlord. Initially, the council apologised for the error but refused to pay the landlord. However, a court has ruled it has made a mistake and must atone for that by paying the landlord the arrears in full.
A big thank you from us to all tenants past and present for their kind words about RentGuarantor.com!”
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsed in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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