Saturday 24 December 2011

Latest Inside Letting Online Magazine Released

The latest edition of the excellent Inside Letting magazine from Edinburgh Council is now available online.

Please click here to view Inside Letting

Tuesday 20 December 2011

Assembly calls for longer tenancies in London’s private rented sector

The London Assembly is calling for longer tenancies of at least five years and tax incentives for landlords who improve their properties, as part of a push to improve conditions for the growing number of Londoners living in the private rented sector.

About a third of the private rented sector in London – around 280,000 homes - fails to meet the “decent homes” standard used in the social rented sector, and one in three private landlords is considered to be “rogue”, leaving tenants at the mercy of poor conditions or sudden eviction.

At the same time, London’s boroughs are paying more than £400 million of public money to private landlords to house some of the capital’s most vulnerable households, sometimes in appalling conditions or with little or no security of tenure.

Click here to read the full story Assembly calls for longer tenancies in London’s private rented sector

Monday 19 December 2011

Families face fast-track eviction to help landlords cash in on higher rents


Inner-city landlords are exploiting the country's acute housing shortage by evicting tenants and replacing them with those prepared to pay more.

The rent increases come as cuts to local housing allowance (LHA) are phased in from next month, amid warnings that a combination of rising rents and reduced allowances will see poorer families priced out.

New figures reveal a 22% increase in the number of fast-track evictions – known as "accelerated possessions" – between 2010 and 2011. It is thought the rise is largely down to landlords taking advantage of being able to re-let their properties at a higher rent.

From next month, an increasing number of poorer families are expected to seek alternative accommodation when reductions to LHA – the amount benefit claimants receive from councils towards the cost of their rent – will mean they cannot afford to stay in their homes. Future payments will be matched to the rents of the cheapest third of properties; previously they were based on the local average.

Click here to read the whole story Families face fast-track eviction to help landlords cash in on higher rents

Wednesday 14 December 2011

Cleaning remains a big problem for landlord and agents

According to the Association of Independent Inventory Clerks (AIIC), landlords and agents are increasingly faced with dirty properties at the check-out stage, which has led to cleaning accounting for 40 per cent of deposit disputes.

Many tenants fail to leave their property in the same condition at check-out and are often very surprised when they are told that professional cleaning is required. Pat Barber, Chair of the AIIC, said: “Tenants rarely treat their rented property in the same way as they would a property they owned themselves. 'Not my problem' is a common statement from some tenants, however sometimes it is. Accidents happen during a tenancy and tenants need to realise that they must take financial responsibility for things that are beyond normal wear and tear.

“For example, a tenant looked after someone else’s cat for a few weeks during the tenancy. On check-out, there were pet hairs on the curtains and soft furnishings, cat claw marks on the corners of the sofa and scratches to the back door. The tenant said it wasn't her cat so why should she pay for the cleaning and repairing the damage?
Click here to read the full story Cleaning remains a big problem for landlord and agents

Tuesday 13 December 2011

Private tenants are trapped into higher fuel bills

Tenants who live in the coldest privately rented homes which haemorrhage heat through the walls, windows and doors are trapped into higher fuel bills because they rely on landlords to make their properties energy efficient.

Citizens Advice and Friends of the Earth today (Tuesday 13 December) called on private landlords and Government to take action on heatless homes that are costing tenants hundreds of pounds in wasted energy a year. Citizens Advice wants:
  • private landlords to take responsibility for cutting tenants’ fuel bills and make their homes more energy efficient now, instead of waiting for the Government to force their hand in 2018;
  • the Government to bring forward, from 2018 to 2016, the date when it will be an offence, in most cases, to let or market a property that falls below an Energy Performance Certificate (EPC) rating Band E – a move which would save tenants in the worst insulated properties up to £1000*.
Click here to read the full story Private tenants are trapped into higher fuel bills

Friday 9 December 2011

Over 70% of possession claims 'driven by rent arrears'

Nearly half (45%) of private landlords have experienced rental arrears in the last three months, with 72% of those who have sought possession driven to do so by rent arrears, according to new research.

The figures come as market research agency BDRC Continental - responsible for the data - warns that increased demand and the rising cost of maintaining property mean private tenants are likely to face a rise in rental rates this winter.

It said other reasons for seeking possession include anti-social behaviour, which contributed to nearly half of possessions

Click here to read the full story Over 70% of possession claims 'driven by rent arrears'

Wednesday 7 December 2011

Rental yields rise for landlords as market can't meet demand

Yields on rental properties are rising as a result of increased tenant demand and rising rents, new research has revealed.

The latest survey from the Royal Institution of Chartered Surveyors (RICS), shows that in the three months to October, 15 per cent more chartered surveyors reported rental yields rose rather than fell.

This is the seventh consecutive quarter that yields have increased. According to RICS, it reflects the “imbalance between rental demand and supply which is continuing to push rents higher”.

Click here to read the full story Rental yields rise for landlords as market can't meet demand

Monday 5 December 2011

Buy-to-let landlords set to suffer more regulation from the EU

New rules could mean buy-to-let mortgages are underwritten the same way as normal mortgages. And that would spell bad news for landlords.

If there’s one thing landlords can’t stand, it’s red tape. When the last government talked of launching a landlord register, to monitor the standards being offered by different landlords, there was uproar.

So it’s unlikely that a new directive from the European Union (EU) will go down too well with them.

Click here to read the full article Buy-to-let landlords set to suffer more regulation from the EU

For more infomation about Buy-to-Let mortgages please click here NetRent Mortgages