Tuesday 30 August 2011

Housing market to become 'preserve of the rich' as home ownership predicted to slump to 63%

A generation could be shut out of the ‘dysfunctional’ housing market over the next decade because of higher prices and miserly mortgage-lending, a report warns.

Home ownership in England will fall to 63.8 per cent in 2021, according to the National Housing Federation – the lowest level since the mid-Eighties.

The grim forecast predicts that many will be unable to get on the property ladder because rising rents make it even harder to save for the large deposits banks now demand.

Click here to read the whole story Housing market to become 'preserve of the rich' as home ownership predicted to slump to 63%

Friday 26 August 2011

Credit where it's due: Universal Credit, social landlords and direct payments

It threatens to create a sharp spike in rent arrears and lead to interest hikes on bank loans, but the Government remains committed to paying the new Universal Credit direct to social tenants, not landlords.

But as we stand on the cusp of the biggest shake-up to the welfare state since Beveridge, a forum staged by the G15 group of housing associations, attended by Government welfare officials and chaired by 24housing magazine, reveals that amid reform and risk lies reward and opportunity. Ross Macmillan reports.

“It’s expected that the great majority of social tenants in receipt of Universal Credit will have their benefit paid to them rather than to their landlord.”

Click here to read the full article Credit where it's due: Universal Credit, social landlords and direct payments

Thursday 25 August 2011

Rents rise for sixth consecutive month

Rents rose for the sixth consecutive month in July, increasing by 0.6% to £705 per calender month and marking a new record high.

It means that the average rent is now £29 higher per month than in July 2010. Nevertheless, the level of late of unpaid rents fell slightly from 9.3% to 9%, according to the latest Buy-to-Let Index from LSL Property Services.

Click here to read the full story Rents rise for sixth consecutive month

Wednesday 24 August 2011

Welcome to the residential landlord insurance policy jungle

The property insurance sector is a complicated minefield packed with a myriad of policies, each offering a range of prices, terms and conditions. Here, Robert Graver explains the basics.

It is important when considering residential landlord insurance to ensure you are offering a product that is tailored to this specific market sector and not a standard private household policy.

A private house policy is not arranged with any business risks in mind and will therefore lack elements of cover that are essential for a property owners’ protection.

Click here to read the full article Welcome to the residential landlord insurance policy jungle

To help landlords choose and purchase the most appropriate insurance cover at the best possible prices we work with Towergate Risk Solutions, part of the Towergate Partnership, Europe's largest independent insurance brokers. Click here for Insurance through NetRent.co.uk.

Tuesday 23 August 2011

Private landlords fear potential increase in rates

The Bank of England’s Monetary Policy Committee may have kept interest base rates on hold at 0.5% in July, but 31% of private landlords surveyed agree or strongly agree that they are worried about their ability to repay should BTL mortgage rates begin to rise.

The BDRC Continental research reveals that BTL mortgage interest rate rises will present a financial challenge to many private landlords. Almost three quarters of private landlords (73%) have at least one mortgage on their rental property and almost half (47%) have at least five BTL mortgages held against their portfolio.

Click here to read the full story Private landlords fear potential increase in rates

Private landlords 'to stop offering Local Housing Allowance tenancies' due to payments cap

Private landlords are to stop offering Local Housing Allowance (LHA) tenancies as a direct result of the Government's cap on payments, according to research published today.

The latest findings from BDRC Continental’s Landlords Panel research reveals that 15% of private landlords say they will stop offering LHA tenancies altogether.

The research indicates that changes to LHA payments - which have been applied since 1 April 2011 - will have a significant impact upon private landlords operating in the sector.

Click here to read the full article Private landlords 'to stop offering Local Housing Allowance tenancies' due to payments cap

Saturday 20 August 2011

Buy-to-let landlords: behind the bad image

According to most things that I read in Guardian Money, I'm one of the evil property-owning elite. As a buy-to-let landlord, I'm automatically lumped in with notoriously bad landlords, living in luxury while my tenants pay extortionate rents to live in slums. Tenants tell of their stories of despair at the hands of people like me, while I'm blamed for, well, pretty much everything.

So I'm here to tell the other side of the tale – what being a landlord is actually like. For starters, many landlords aren't rich.

Click here to read the full article Buy-to-let landlords: behind the bad image

Wednesday 17 August 2011

Human Rights Warning Over Satellite TV for Tenants

Landlords who say no to tenants who want to install satellite TV or broadband could infringe their human rights.

Following a landmark ruling in the European Court of Human Rights, a family in Sweden won the right to add a satellite TV dish to their rented home after the landlord declined permission.

The landlord was also ordered to pay the tenants £12,280 compensation.

Click here to read the full story Human Rights Warning Over Satellite TV for Tenants

Tuesday 16 August 2011

House of Horrors - One Landlord's Story

A landlord has been describing his 'year from Hell' while a tenant wrecked his property over a six month period as he was powerless to remove them.

Click here to watch the video House of Horrors - One Landlord's Story

NetRent Comment

Watching this video will worry every landlord because it can happen at any time. The one crumb of comfort is the comments from the police officer at the end. It will be interesting to see whether or not they prosecute the tenant.

Meanwhile, NetRent extends it's sympathy to Mr Schofield as he starts to repair his property.

Don't forget to visit and support our Facebook campaign The Damage That Some Tenants Do.

Monday 15 August 2011

Tenant used landlord’s credit card in £10k fraud

A tenant stole his landlord’s credit card and racked up more than £10,000 in debt in a “galling” and “disturbing” fraud, a judge said.

Landlord Paul Hardiment only discovered that Michael Wild had been using a Barclays bank card in his name while he was undergoing a York County Court order to obtain months of unpaid rent from his tenant.

Click here to read the full story Tenant used landlord’s credit card in £10k fraud

Friday 12 August 2011

Residential landlords feel more hopeful about prospects

Almost a quarter of landlords are feeling more optimistic about the prospects for their property portfolios, rental income and yields.

They are helped by a perception of availability of buy-to-let finance: 22% in the second quarter of this year said that it was reasonably available, compared with 17% in the first quarter.

According to Paragon Mortgage’s Q2 Private Rented Sector Trends Report, 23% of landlords feel more optimistic than was the case in Q1, particularly if they are professional landlords, with 30% stating they were more optimistic, compared with 15% of smaller-scale landlords.

Click here to read the full article Residential landlords feel more hopeful about prospects

Click here for independent buy to let mortgages with no broker fees

Thursday 11 August 2011

Landlords fined £20,000 after tenant leaps three stories to escape blaze

Two Epsom landlords have been fined over £20,000 after a 25-year-old musician was forced to jump three stories from their death-trap building when it caught fire.

Musician Charlie Flynn, who fronts band Warehouse Republic, was forced to leap from the window of the attic room that he was renting from them at the property in Miles Road, Epsom on December 5.

Click here to read the full story Landlords fined £20,000 after tenant leaps three stories to escape blaze

Monday 8 August 2011

A new mandatory power of possession for anti-social behaviour: Consultation

A new Consultation paper from the Communities and Local Government office was launched on 3rd August. Their website says:

"This consultation seeks views on the detail and practicalities of a new mandatory power of possession to enable landlords to take swifter action to evict their most anti-social tenants.

"The Government's intention is that the necessary legislation be introduced alongside legislative changes required following the Home Office's recent consultation on reforming tools and powers to tackle anti-social behaviour."

Click here for more information A new mandatory power of possession for anti-social behaviour: Consultation

Friday 5 August 2011

Is this failed buy-to-let 'guru' Jim Moore back in business?

Property ‘get-rich-quick’ schemes – where potential landlords are encouraged to buy flats and ‘put no money down’ – are back, with at least two companies encouraging investors to enter into risky and potentially illegal transactions.

Intriguingly, some of the correspondence is signed ‘James Moore’ and comes from the personal email address of Jim Moore, who founded the notorious get-rich-quick property firm Inside Track.

Read the full story here Is this failed buy-to-let 'guru' Jim Moore back in business?

NetRent Comment

During the buy-to-let boom companies like Inside Track made fortunes selling the dream of a property empire worth millions to people looking for the next great investment. We strongly advise anyone thinking of investing in any of these property schemes to seek independent legal and financial advise and then walk away.

There is no short cut to owning a property portfolio. Like any business it takes hard work and dedication to succeed.

Thursday 4 August 2011

Landlords From Hell Revisited

Channel 4 have updated their recent programme Landlords From Hell in which Jon Snow exposed some of the worse elements of letting in the UK.

To see the latest comments and view the video update click here Landlords From Hell Revisited