Universal credit has been highly controversial since it was first introduced back in 2013. On paper, it sounded like a good idea. Rolling individual benefits up into one single payment cuts red tape and makes it easier for benefits claimants to apply. However, in practice, it has caused a nightmare for the government – and for claimants.
New research published by the National Landlords Association has revealed that many landlords are struggling to keep their heads above water. NLA research indicates around 79% of landlords are finding it impossible to pay more than the interest in their buy to let mortgages. They say this is down to the rising costs of being a landlord in the current economic climate.
While tenants often assume that landlords are flush with money because they own extra properties, the opposite may well be true. Landlords may have hefty mortgages to service, which take the majority of their rental income. Yes, they are making capital gains in some areas, but with other costs to consider, including housing maintenance, licencing fees, and landlord insurance, operating as a landlord can be an expensive business.
New research has indicated that tenants prefer renting furnished properties. Since the majority of properties in the buy to let sector are let unfurnished, landlords could be missing out.
Researchers from a leading property website looked at rental income from similar two-bed properties in nine UK cities. One property was furnished, and the other wasn’t. The data indicated that furnished properties earn up to 21% more each month in rent. It appears that many tenants are willing to pay a premium for a furnished property, especially in cities like London. The downside for landlords is that adding furniture is a costly business.
The Homes (Fitness for Human Habitation) Act has made its way into the statute books. How does this affect landlords? Let’s find out.
There aren’t many words to describe how last year went for most people. If you weren’t thrown into an existential crisis by all the negative political and climate change news, you were being affected by the latest legislation and mulling over questions about Brexit that just don’t have an answer.
Yep it’s a scary time to be anyone right now. We’re heading into a New Year, and that uncertainty sticks with us. As we put away the Christmas decorations, we’re left with a reality that’s as stark as the place the Christmas tree used to be.
I’ve got a feeling the numbers on the calendar are the only thing that’s changed.
If last year is anything to go by, we’re heading into an unknown future, where any one of a million things could go wrong.
We each react differently to this uncertain future. You might let it get you down, you might run from it and go into denial, but maybe you can use it to fuel change in your own life?
It was Jim Carey who said:
“If you aren’t in the moment, you are either looking forward to uncertainty or back to pain and regret.”
He’s got a good point.
This year it’s time to start living in the moment.
Take the time to appreciate everything of value around you at any given moment. Your family, your friends, your home and your situation in life.
Stretch your good moments out by being fully present in them. Instead of considering how much better this moment could be, or how much worse this moment once was, think about what it is now and what you can and should value in this moment.
Pay attention to your moments and the people you share them with. Start taking account of the good in your life, not the bad. Help give others happy moments they may not have had without you.
It’s an art form, that’s for sure, but what better time to learn a new skill than January? What better time to put some kindness and happiness into the world than right now?
Here’s wishing you all a happier new year with enriched and fulfilling moments that you can be truly present in.
From
Amer Siddiq
“What is this life if, full of care,
We have no time to stand and stare?”
Leisure – WH Davies
Learn more about Amer on Landlord Vision’s Meet the Team Page.
