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Few changes were made to property taxes in Chancellor George Osborne’s 2012 budget, and the majority of buy to let landlords will not be affected. However some significant changes have been made to the stamp duty rules for homes worth more than £2 million, marking an effort by the Government to stop Stamp Duty avoidance… Continue Reading
Category Archives: News
Tenancy Deposit Protection Changes
As of 6th April, the Department of Communities and Local Government (DCLG) will be making changes to the regulations around Tenancy Deposit Protection in England and Wales. The changes to protection requirements and potential recriminations for non-compliance will come into force on 6 April 2012. In summary, from 6th April 2012, the Localism Act makes… Continue Reading
Electrical Safety Advice for Landlords
Research from the Electrical Safety Council has found that misunderstandings between landlords and tenants over responsibilities for safety are exposing many people to life-threatening electrical dangers. There are serious consequences for landlords who are found to be negligent over electrical safety, including fines or even imprisonment. Our guidance for landlords outlines the simple steps you… Continue Reading
Why is Tenant Referencing so Important?
Your property is probably one of the most expensive things you own, so you don’t want just any one moving in. Referencing is the best way to protect yourself against bad tenants, ensuring that they are who they say they are, giving an insight into their ability to pay the agreed rent and their history… Continue Reading
Rents Rise in January
The trend of rising rents continued in January, despite it being a month that traditionally sees a drop in rental prices. This is the first time in the history of LSL Property Services collecting monthly rent data that they have seen an increase in rental prices in January. In January, LSL Property Services reported a… Continue Reading
Rents On The Way Up After Seasonal Drop
The usual seasonal drop off in rents has almost come to an end, according to the latest figures from the rent index. The rent index tracks actual rents in real time, using information gathered from more than 5,500 landlords over the past 90 days. It shows that the average rental price paid has increased by… Continue Reading
Number of BTL properties increased by 84,000 in 2011
According the latest data from the Council of Mortgage Lenders, the number of properties being bought with buy-to-let mortgages increased by around 84,000 in 2011. During the fourth quarter of 2011, a total of 34,800 buy-to-let mortgages were advanced (a total value of £4 bn). This was almost identical to the third quarter figures (34,300… Continue Reading
Statistics: Private Rental Sector vs. Social Rental Sector
Following the release last week of the 2010-2011 English Housing Survey Report, we can see the difference between the private rental sector and social rental sector. The social rented sector accounted for 17.5% (3.8 million) of households and the private rented sector accounted for 16.5% (3.6 million) of households Over half of all private renters… Continue Reading
English Housing Survey Report Summary
The Department for Communities and Local Government has published the English Housing Survey (EHS) Headline Report 2010-11. A summary of the key findings are as follows: Average weekly rents in the private rented sector continued to be well above those in the social rented sector (£160 per week compared to £79). 63 per cent of… Continue Reading
RLA Defends Good Landlords
Responding today to Shelter’s five point plan for tackling “rogue landlords”, the Residential Landlords Association (RLA) has called on local authorities to more effectively root out those who flout their obligations under the law. The RLA says that according to the Government’s English Housing Survey 84% of the over 8 million private rented sector (PRS)… Continue Reading