According to data released by HMRC, there was a 7% rise in landlord acquisitions in 2013-14, but given the recent surge in lending this figure is now likely to be a lot higher. HMRC figures reveal that there were 1.75 million buy to let landlords declaring income from properties between 2013 and 2014.
In what is thought to be the first case of its kind, a man from Sheffield, Rami Nazzal, has been prosecuted for sub-letting his council property and then forcibly evicting the tenant. So essentially he has been prosecuted for both offences at the same time.
HMOs are traditionally run by more experienced landlords as they tend to be more hands-on than regular buy to let properties. However, research carried out by a leading mortgage company has found that the number of landlords looking into buying an HMO has risen by 10% over the last six months.
The aim of the landlord game is to find the perfect property – one that offers a high yield as well as great capital gains. This is not always easy, as it depends on whereabouts in the country you live. You also need a crystal ball to be able to predict what tenants are likely […]
Discovering a property is absolutely filthy at check-out is not uncommon. According to research carried out by an online letting agent, 70% of landlords claim their properties have been returned at the end of a tenancy in a ‘dirty condition’. Some even claim that they were forced to completely renovate their property to bring it […]
According to figures published by the National Landlords Association, around 36% of landlords have had a property where tenants have simply disappeared overnight, often leaving rent arrears in their wake. The problem is even worse in the North of England, with 58% of landlords reporting property abandonment.
The Housing and Planning Act has finally been given Royal Assent. So how does this important Act affect landlords? The main purpose of the Act is to weed out rogue landlords, many of whom make tenants’ lives a misery. There are various measures contained within the Act. These include:
March saw a stampede of landlords racing to complete on new buy to let purchases before George Osborne’s stamp duty changes kicked in. This sudden flurry of activity has had a knock-on effect on the UK housing market, leading to an increasing gap between supply and demand.
The NLA has issued a challenge to the new mayor of London, Sadiq Khan. Whilst the NLA welcomes the appointment of Mr Khan to the role, they would like him “to use just a fraction of his £17bn budget to help support London’s private rental sector.”
A recent study by leading insurer, Direct Line, has revealed that tenants now spend around 18 months in their properties before they move on to pastures new. It has also revealed that in some parts of the UK, void periods are longer than others.
A prolific scammer is facing jail for a string of property fraud offences in Luton. Moses Ogoe has pleaded guilty to six charges of rent-to-rent fraud, whereby he rented several large properties under false pretences and proceeded to sub-let them to multiple tenants.
Rental property in London is typically around £1,600 a month, which is unaffordable for many people. As a result, many tenants are forced to share homes or live in less than perfect properties.
London is the most expensive place in the UK to rent a home. It costs, on average, anywhere from £1,300 to £2,200 to rent a studio or one-bed flat in the capital. For graduates and young professionals in entry level jobs, this is completely unaffordable, so their only option is to live in a flat-share.
It was not too long ago that buy to let lenders were queuing up to offer landlords great mortgage deals. Now, though, the buy to let mortgage market is undergoing a radical change in response to government tax cuts and Bank of England’s regulatory changes for buy to let mortgages.
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