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Under government proposals, council tenants in England who are convicted of sub-letting their homes, could face up to two years in prison. The new criminal offence of tenancy fraud could also incur a fine of up to £50,000. Sub-letting a council property is not currently a criminal offence, and official estimates are that around 160,000… Continue Reading
Category Archives: News
Buy To Let Yields for 2011
“Vanilla” buy to let mortgages had a good year in 2011, exceeding the expectations of the CML. Buy to let figures for 2011 Q1 Q2 Q3 Q4 Average loan size £116,238 £126,522 £144,006 £126,240 Average property size £175,819 £187,708 £224,639 £198,529 Average loan to value 66% 67% 68% 65% Average yield 5.6% 5.8% 6.3% 6.13% Continue Reading
Buy To Lets Boom in 2011
At the start of last year, the council of mortgage lenders predicted that buy to let mortgage lending would reach £11 billion in 2011. In actual fact, the figure was closer to £13 billion, nearly 10% of the overall mortgage lending market. There are many reasons why the buy to let market continues to flourish,… Continue Reading
Gas Safety: Make Sure You Are Compliant
As a landlord, you must make sure that any pipe work, appliances and flues that you provide for tenants are maintained in a safe condition. You must have a gas safety check every 12 months. This must be carried out by a Gas Safe registered engineer, who will then issue a gas safety certificate, which… Continue Reading
Rent Your House for the Olympics
Many homeowners are planning on cashing in on the 2012 Olympics, by renting out their homes for the period. A four bedroom house in Muswell Hill is currently on offer for £3,500 per week during the Olympics. With this sort of cash incentive, it is easy to see the appeal. However, making a quick buck… Continue Reading
London is 2nd Most Expensive City to Rent Property
If you thought it was expensive to rent in London, you’d be right, according to the Global Property Guide. Based on the average size of apartment, at 120 sq m (1291 sq ft), in a prime inner city area, Monaco gets the number one spot, at £5931 per month. Our very own London is close… Continue Reading
Accelerated Possessions
There has been a 22% increase in section 21 notices issued this year compared to last year. This is thought to be due to landlords wanting to bring in new tenants who are prepared to pay higher rents. With demand outstripping supply by 5/1 in some places, it is no wonder that rents have been… Continue Reading
Still a Demand For Student Accommodation
High University fees and the economic downturn have led to fewer University applications for 2012. Some have speculated that this would be reflected in demand within the student accommodation sector. However, this is not the case, says Caroline Kavanagh, group lettings director of Townends estate agents, who has seen no evidence of a downturn in… Continue Reading
What Repairs are Tenants Responsible For?
Tenants are required to use the property in a responsible way, taking proper care of it. For example, turning off the water when going away if there is a risk of burst pipes, and unblocking sinks. Tenants often have responsibility for some minor repairs and maintenance, for example, internal decoration, gardens, furniture or equipment, though… Continue Reading
What Repairs are Landlords Responsible For?
Landlords are responsible for most repairs to the exterior or structure of a property, for example, the roof, chimney, walls, guttering and drains. Some structural problems may be covered by your building’s insurance, and you should contact your insurer as soon as possible. The landlord is also responsible for the repair of sanitary installations (basins,… Continue Reading