Landlords urged to tell tenants about their right to accept a smart meter as fuel poverty crisis deepens
Landlord News
by Em Morley
6M ago
A national awareness campaign has launched to boost the national smart meter rollout across the private rental sector, in readiness for what is going to be the hardest winter for millions of tenants. Launched by Utilita – the UK’s leading Smart+ Pay As You Go (PAYG) energy provider – the ‘Smart Landlords, Smart Tenants’ campaign is designed to help landlords understand the basics about the latest smart meters, and the benefits they can deliver for them and their tenants, including life-saving connectivity and remote financial assistance. Utilita’s previous research reveals that 75% of househol ..read more
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Nationwide drop in the percentage of asking price being achieved by home sellers
Landlord News
by Em Morley
6M ago
The latest data release by estate agent comparison site, GetAgent.co.uk, has revealed that over the last six months, the average home seller across England and Wales has achieved 97.3% of asking price, a -2.4% drop versus the previous six months, with every region seeing a decline in the percentage of asking price achieved.  GetAgent monitors the percentage of asking price achieved for sales across each postcode of England and Wales, based on the original price a property was first listed for sale at, versus the price they achieved upon completion.  The latest research shows that ove ..read more
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Rental demand increases, led by south coast
Landlord News
by Em Morley
6M ago
The latest Rental Demand Index from estate and lettings agent, Barrows and Forrester, has revealed that rental demand has surged during the third quarter of 2023, with a surprisingly strong element of this growth coming from regions in the South East, like West Sussex and Hampshire. The Rental Demand Index by Barrows and Forrester is a quarterly review of tenant activity, analysing rental demand based on the proportion of total rental market listings that have already had a let agreed.  The latest index shows that across England some 39.8% of rental stock has been snapped up by tenants in ..read more
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Rental data reveals London has become unaffordable for graduates
Landlord News
by Em Morley
6M ago
Data from leading flatshare site SpareRoom reveals that London is now entirely unaffordable to graduates, with every postcode in the Capital a ‘no-grad zone’ thanks to sky-high rents. September sees many new grads flock to London, enticed by the prospect of career opportunities and quicker advancement up the professional ladder. However, average room rents in London & surrounds are at a record high, reaching a staggering £1,013 in August 2023. According to SpareRoom’s latest Quarterly Rental Index, not one postcode in the Capital has average room rents that are ‘affordable’ on the average ..read more
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Landlords urge ministry of justice to speed up court wait times
Landlord News
by Em Morley
6M ago
The national body representing private sector landlords has called on Justice Ministers to take action to speed up the time taken for courts to process legitimate possession cases and set out a clear plan for reforming the Court service.   In an open letter, the National Residential Landlords Association (NRLA) sets out the need to tackle the delays of sometimes six months or more before landlords can take back possession of their rental property – particularly so with Section 21 set to be abolished in the Renters’ Reform Bill. The letter cites a recent report by the Levelling Up, Ho ..read more
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Landlord debt is on the rise
Landlord News
by Em Morley
6M ago
New research by specialist property lending experts Octane Capital reveals that the average landlord has seen the amount of money they owe via buy-to-let mortgage loans increase by 19% in the last year. To understand how recent months of economic turmoil have impacted buy-to-let landlords across England & Wales, Octane Capital analysed the average number of properties owned by each buy-to-let landlord, the average number of buy-to-let mortgages held by each landlord, and the average total amount of each landlord’s buy to let mortgage debt.  The data shows that, across the nation, the ..read more
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Landlord portfolios shrink due to government policymaking
Landlord News
by Em Morley
6M ago
Landlords are reducing their stock in response to the hostile policies enacted by the past few Conservative governments. This is according to the latest research by London lettings and estate agent, Benham and Reeves, which compared the size of investors’ portfolios between the first quarter of 2022 and the same quarter this year. Throughout England and Wales portfolio sizes have fallen by -5.6% year-on-year, dropping from 9.1 to 8.6 – though the situation is far worse in some regions. Investors in Wales worst affected In Wales, professional landlords seem to be leaving in droves, as portfolio ..read more
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How will the Renters Reform Bill redefine landlord responsibilities?
Landlord News
by Em Morley
7M ago
First proposed in 2019, the Renters Reform Bill intends to introduce widespread rental reforms that will significantly impact landlords and tenants throughout England.  As the proposed changes will have implications for the rental housing sector and private landlords, London lettings agency JOHNS&CO are providing their expert insight on the opportunities and protections being explored for landlords. Graeme Goessen, Management Services Director for JOHNS&CO, said: “Now that it has been published after years of speculation, there is some concern that the current proposal provides va ..read more
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Tenant survey reveals the crisis facing the private rented sector
Landlord News
by Em Morley
7M ago
A survey of tenants who rent homes has revealed the depth of the crisis facing the private rented sector (PRS), with more than three quarters of respondents effectively trapped in their current home due to the major shortage of alternative rental properties.  The survey was carried out by estate agent HOP, which manages a vast rentals portfolio worth more than £245 million across Leeds and beyond and it asked more than 600 tenants about their current circumstances and property aspirations. More than 70% of respondents said that they ideally want to own their own home, but for three quarte ..read more
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Nine in ten outer London landlords report rising tenant demand 
Landlord News
by Em Morley
7M ago
Landlords with property in Outer London and the East Midlands are reporting the strongest levels of tenant demand in Britain, Paragon Bank research has revealed.  The research of 983 landlords, carried out by BVA BDRC, showed 91% of landlords reported rising tenant demand in outer London during the second quarter of the year, with 67% reporting demand grew ‘significantly’. In the East Midlands, 86% of landlords reported rising tenant demand, followed by Wales at 82%.  The weakest region for tenant demand was the North East, with 69% of landlords recording an increase in demand and 6 ..read more
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