Private renting’s hidden costs revealed

May 24th, 2013

The hidden costs of renting private accommodation in Northern Ireland have been revealed in an undercover survey carried out by the Housing Rights Service (HRS).

Mystery shoppers conducted a survey of 40 lettings agents across the country and found that upfront fees of as much as £100 were demanded by some agents to cover routine services such as credit checks and general administration costs.

This was on top of a deposit – normally one month’s rent – and a month’s rent in advance. Continue reading »


Immigrant checks would be ‘light touch’, Prisk promises

May 23rd, 2013

The immigration status of tenants will only have to be checked under a ‘light touch’ regime, housing minister Mark Prisk has said.

Prisk was speaking to MPs who were asking questions about proposals unveiled in the Queen’s Speech which will make landlords responsible for checking whether their tenants have a right to be in the UK. Continue reading »


Warning for landlords and investors over size of contingency fund needed for buy to let

May 22nd, 2013

Residential investors and landlords in the UK are not factoring in the costs of owning a buy to let property with a contingency fund and this is leading to an upward trend in repossessions, it is claimed.

Recent statistics show that one in five repossessions during the first three months of 2013 were on buy to let properties, according to the Council of Mortgage Lenders. In the last quarter of 2012, landlord properties represented 12.8% of the repossessed total. Continue reading »


Rental services firm offered ministers free immigrant check service

May 21st, 2013

A tenancy referencing firm approached the Government three years ago and offered an immigrants’ checking service which would have cost taxpayers nothing.

However, the offer was turned down flat.

It has emerged that in 2010, FCC Paragon offered the Government what it calls “a credible free solution” that it had already trialled with the UK Border Agency. Continue reading »


Architects in the UK launch campaign for more spacious homes

May 20th, 2013

The Case for Space study reveals that 75% consider a lack of space a key problem, be sure to invest in properties that are spacious and with plenty of natural light so as to improve your chances of letting the property quicker.

Everyone is aware that the UK needs hundreds of thousands of new homes in the next decade but little thought seems to have been given to the size and quality. Indeed, there is no national minimum standard for the size of a new home in England.

This is worrying, according to the Royal Institute of British Architects (RIBA), which points out that the UK has the smallest homes in Western Europe. Continue reading »


Private rental reforms based on ideology not evidence, say landlords

May 17th, 2013

Reforms to the way the private rented sector operates in Wales are based on ideology rather than evidence, the Residential Landlords Association (RLA) has claimed.

The RLA is warning that the government’s Welsh Agents and Landlords Licencing Scheme (WALLS) will impose “a bureaucratic and ill-defined licencing scheme” on the sector. Continue reading »


Just one in a hundred deposits ends in formal dispute

May 16th, 2013

The ratio of deposit disputes in England & Wales is just over 1% according to official figures released by the Department for Communities and Local Government.
The Government figures show that of the seven million deposits (7,052,255) that have been protected since the launch of the legislation in 2007, only 91,802 have ended up requiring formal dispute adjudication – just 1.3%. Continue reading »


Full impact of housing benefit reforms in private rented sector ‘still to happen’ – report

May 15th, 2013

The impact of housing benefit reform on tenants living in the private rented sector has been “geographically limited” but London has been hardest hit, according to research published today by the Department for Work and Pensions.

Research from an independent consortium led by the Centre for Regional Economic and Social Research (CRESR) at Sheffield Hallam University on behalf of the DWP covers the impact of changes to local housing allowance (LHA) in the private rented sector. Continue reading »


Ten thousand letting agents now signed up to Ombudsman scheme

May 14th, 2013

Letting agencies in membership of The Property Ombudsman scheme now exceed 10,000 branches for the first time.

The milestone number was passed at the beginning of May. Continue reading »


Number of first-time landlord cases increases, says Paragon

May 13th, 2013

Research by specialist buy-to-let lender Paragon Mortgages has revealed that intermediaries are seeing a steady increase in the number of first-time landlords entering the buy-to-let market. Continue reading »