Students dominating tenancy starts in central London

July 25th, 2014

Research from London Central Portfolio shows that students made up a staggering 41% of tenancy starts in the last 12 months. Students are outbidding the corporate sector for properties, paying an average of £600 a week for a flat. The demand can be partly attributed to students from wealthy, foreign families who can often afford to pay a year upfront.

Full story available from Mortgage Introducer: http://www.mortgageintroducer.com/mortgages/250193/238/Buy-to-let/Foreign_student_renters_on_the_up.htm

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Banning of rental properties with low EPC ratings moves a step closer

July 24th, 2014

A new consultation has been launched which states that that minimum standard for all rental properties will be an EPC rating of E. If implemented it will not be possible to rent properties that fail to meet this standard to new tenants from 1st April 2018.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/ministers-move-closer-banning-rental-properties-low-epcs/

RentPro cloud based rental property management software for letting agents and landlords.


London provides lowest rental yields

July 23rd, 2014

Research from BM Solutions has revealed that London is providing landlords with the lowest rental yield out of all the regions in the UK. Analysts from the company advise that whilst regions from outside the capital should be considered as investment locations, landlords should be wary of chasing after cheap properties in ‘up and coming’ areas.

Full story available from Mortgage Solutions: http://www.mortgagesolutions.co.uk/mortgage-solutions/news/2356802/london-rental-yields-lag-behind-rest-of-uk

RentPro cloud based rental property management software for letting agents and landlords.


Interest rate rises could cause havoc in private rented sector

July 22nd, 2014

The loan-to-income cap introduced last month by the Bank of England governor Mark Carney did not apply to but-to-let mortgages. Given these are the fastest growing type of mortgages, and have undoubtedly been the major contributory factor to the increases in UK property prices, concerns have been voiced as to what will happen when interest rates rise. Economists say that such an increase could lead a repeat of the high numbers of repossessions experienced during the 2008 financial crisis.

Full story available from IPIN Global: http://www.ipinglobal.com/ipin-live/407278/uk-buy-to-let-market-on-very-shaky-ground

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Survey predicts stable growth in private rented sector

July 21st, 2014

A survey of landlords conducted by Paragon Mortgages found that the average yield across their rental portfolio had increased slightly from 6.1% in Q1 to 6.2% in Q2. Encouragingly the survey also found that 16% of landlords were planning to add to their portfolios during the third quarter.

Full story from Mortgage Introducer: http://www.mortgageintroducer.com/mortgages/250176/238/Buy-to-let/Landlords_expecting_stable_growth_.htm

 RentPro cloud based rental property management software for letting agents and landlords.


Rents rise by just 1.4% and tenant arrears improve over the last 12 months

July 18th, 2014

According to LSL’s latest Buy-to-Let Index, the average residential rent across England and Wales is now 1.4% higher than in June 2013 which is below the rate of inflation (CPI of 1.9%) for the thirteenth month in a row.

Tenants’ finances have improved on an annual basis in June. The total amount of late rent across England and Wales now stands at £266 million as of June 2014, down from £280 million in June 2013, with tenant arrears now representing just 7.8% of all rent compared to 8.3% a year ago.

Read the full story on the Financial Reporter

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New immigration legislation worries landlords

July 17th, 2014

80% of landlords are worried about the new immigration legislation which comes into force in October 2014. These are the findings of a study conducted by The Online Letting Agents. Such worries could lead to housing shortage for a growing segment of the population if landlord and letting agents refuse potential tenants if they believe them to be immigrants.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/view.asp?ID=14007

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New survey reveals that half of tenants feel ripped off

July 16th, 2014

A new survey conducted by Ocean Finance has revealed that half of tenants in the UK feel that they have been ripped off by either a private sector landlord or letting agent. The main cause of dissatisfaction is failure to get repairs done or in a timely fashion.

Full story available from PropertyWire: http://www.propertywire.com/news/europe/uk-tenants-landlords-survey-201407159357.html

 RentPro cloud based rental property management software for letting agents and landlords.


Campaign launched against licensing schemes in the private rented sector

July 15th, 2014

The new national campaign against selective licensing schemes is to seek a legal opinion on the issue of tenants’ legal rights to the peaceful enjoyment of their property.

The launch comes as Liverpool city council, wants landlords and agents to keep tenants and their visitors under what appears to be permanent surveillance as part of its proposed licensing scheme.

Read the full story on Property Industry Eye

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Restricting buy-to-let lending may restrict supply

July 14th, 2014

According to tenant eviction and rent recovery firm Landlord Assist, imposing lending restrictions on the buy to let mortgage market in the UK could have damaging consequences for landlords and the supply of rental properties.

Read the full story on Property Wire

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