LandlordZONE Update - Bank Interest Rate Rise Predicted

 

Bank Interest Rate Rise Predicted

  Bank Interest Rate Rise Predicted

Breaking News - Bank Rate Rise:

Accelerating GDP growth in the economy demonstrated by the last quarter’s figures suggests a rate rise coming.

The UK economy is doing better than expected post Brexit, with the latest quarterly growth figure accelerating to 0.4%. This is well above the forecast 0.3%, which adds weight to arguments that…

Central London Rents:

Average rental values in prime central London dipped just 0.1% in the three months to September, and average rents were down 3% year-on-year, representing the slowest declines in almost two years, that’s according to the latest Knight Frank PRIME CENTRAL LONDON RENTAL INDEX.

Higher supply in the rental market had been due…

Landlords and Tax:

The revelation that almost 50% of landlords who had registered for the property licensing scheme in Newham - something all landlords there must do if they want to let property in the borough – had not registered for or filed a self-assessment tax return.

Of the 27,000 landlords registered on the scheme…

 
 

Big Changes for Scottish Residential Tenancies

  Big Changes for Scottish Residential Tenancies

New Tenancies Scotland:

This week the Scottish Government published the new “Model Tenancy” agreement for residential lets in preparation for major reforms of the private rented sector (PRS) due to commence 1st December.

The Private Housing (Tenancies) (Scotland) Act 2016 recently passed by the Scottish Parliament will mean a new private residential tenancy in Scotland…

Under pressure to do more for tenants, the Conservatives have said they will introduce redress schemes for landlords, similar to those introduced for letting agents.

The announcement was made at the Conservative Party Conference last week, alongside other plans to regulate letting agents and bring in incentives for landlords to offer their tenants longer term…

Sub-Letting Licenses: (SOLITAIRE) LIMITED Appellant and CHERRY LILIAN NORTON and other cases [2012]

Landlords of leasehold buy-to-let flats are often asked to pay a fee (sub-letting licence or registration fee) to the freeholder when seeking permission to sub-let their flat, and this fee is usually due each time a new tenancy is signed.

This is…

 
 

Credit Checks and Rent Payments

  Credit Checks and Rent Payments

Rent Payment History:

Most landlords and letting agents are now doing credit checks and referencing on prospective tenants as a matter of course.

Taking on a new tenant without doing these is risky because not only do you not know their financial background, the way they are handling their finances month to month, you don’t…

Substandard Homes:

Following the prime minister’s speech at the Conservative Party conference, when she promised to look into tenancy problems, an inquiry has been launched by Clive Betts MP into local authorities’ powers to tackle landlords renting out substandard or even dangerous homes.

A CLG Select Committee is investigating whether councils have adequate powers to…

The latest Private Rented Sector (PRS) report from the Association of Residential Letting Agents (ARLA Propertymark) shows that landlords are responding to the squeeze on their income by passing on at least some of their increasing costs, by way of rent increases.

Around one-third of member letting agents surveyed in July 2017 saw rents increase…

 
 

Low interest rate era coming to an end…

  Low interest rate era coming to an end…

Interest Rate Rises:

John Bagshaw, corporate services director of Connells Survey & Valuation, comments relevant to this morning's UK Finance High St Banking Statistics:

“Having benefited from a decade of low interest rates, consumers are sensing the risk that this era is nearing an end.

“Many older mortgage deals are expiring this autumn which will…

Substandard Homes:

Following the prime minister’s speech at the Conservative Party conference, when she promised to look into tenancy problems, an inquiry has been launched by Clive Betts MP into local authorities’ powers to tackle landlords renting out substandard or even dangerous homes.

A CLG Select Committee is investigating whether councils have adequate powers to…

The latest Private Rented Sector (PRS) report from the Association of Residential Letting Agents (ARLA Propertymark) shows that landlords are responding to the squeeze on their income by passing on at least some of their increasing costs, by way of rent increases.

Around one-third of member letting agents surveyed in July 2017 saw rents increase…

 
 

Condensation – how to deal with it

  Condensation – how to deal with it

Damp & Condensation:

Condensation occurs in a property when warm moisture laden air (steam) comes into contact with cold surfaces. As winter arrives, the problem often occurs.

To simplify this as much as possible, there are just two main causes:

1 – Not enough heating in the building

2 – Too much unvented steam being…

Energy Grants:

Private (BTL) landlords who rent to housing benefit tenants could be inline for help with energy efficiency grants as the government decides to support a programme to improve the EPC rating of properties inhabited by tenants claiming housing benefits (HB).

The idea behind the initiative, ahead of the impending legislation enforcing minimum energy…

Validity of Section 21 Notice: Amak Property Investments v Laura Sonny [2016]

This case was an appeal by the tenant following a county court judgement relating to the validity of a s21 notice on the basis that the landlord had not complied with the deposit protection (MyDeposit) scheme rules.

The wording in the relevant Act…

 
 

New Guide on Meeting Minimum Energy Standards

  New Guide on Meeting Minimum Energy Standards

Energy Efficient Properties:

The Government has just issued new guidance on complying with minimum EPC standards.

With just six months to go now until the Minimum Energy Efficiency Standards (MEES) are introduced for residential rental properties the government has issued detailed guidance for landlords.

The MEES Regulations will make it unlawful for a landlord to…

Build to Rent in Scotland:

The latest published research by the British Property Federation (BPF) suggests that Build to Rent (BTR) is approaching the 100,000 unit milestone at 95,918 homes now completed, under construction or at the planning stage.

Many housing industry professionals now see BTR as a big part of the solution to the…

Record Commercial Sales:

London commercial property has hit an £llbn record so far this year, with the City of London seeing it's strongest trading in a decade.

Savills, the property agency and consultancy, has produced data which shows July turnover was £2.1bn across 11 deals, equating to an average lot size of £190.92m. The sale…

 
 

Fire - a Landlord's Webinar - Friday 3rd November

  Fire - a Landlord's Webinar - Friday 3rd November

Don't miss this important Fire Safety Webinar - Friday 3rd November at 12:30pm - register below.

At the time of the Grenfell Tower fire, most responsible landlords would have been questioning their own properties' infrastructure and safety provisions.

A few months on, however, the horror and tragedy have slipped from the headlines, and the minds…

Damp & Mould:

You may have seen or heard of the 1970s TV series Rising Damp, which featured a landlord and his tenants (lodgers in this case) which rather implies that all rental properties are troubled with this kind of damp.

Far from the case, but some are. In fact the problem can affect any…

Property Security:

Technology has taken over nearly every aspect of our everyday lives, including how we choose to secure our homes. Following recent tests carried out by Hilton UK, smartphones could soon replace card keys as the way for guests to access the hotel chain's luxurious rooms. Smart locks are quickly becoming…

 
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