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According to mortgage brokers, the buy-to-let boom is set to continue, with landlords predicted to buy more properties in 2012. Interestingly the number of first-time investors in this sector is also growing, with newbie landlords making up around 23% of the buy-to-let market. While life is still tough for first-time buyers and home owners, with… Continue Reading
Category Archives: News
Ken Livingstone’s Manifesto for Lower Rents and Better Homes
Concerned by the cost of living in London, Ken Livingstone is making some big pledges in his 2012 Manifesto for the London Mayoral elections on May 3rd. Amongst other things, he promises to “establish an all-London non-profit making lettings agency which, by cutting out Estate Agents’ profit, will help reduce rents and provide secure tenancies” and to campaign for a London Living… Continue Reading
DPG and Zoopla Merger Approved by The Office of Fair Trading
The Office of Fair Trading (OFT) has now given clearance for the proposed merger of Zoopla with Digital Property Group to go ahead. Digital Property Group is the umbrella for some of the biggest property websites, including Prime Location, Find a Property and Globrix. The transaction is expected to complete within the next few weeks… Continue Reading
“Rental Britain”: Summary of the Special Report by Savills and Rightmove
Savills and rightmove have teamed up to produce a special “Rental Britain” report. Here we provide a summary of the findings. The total value of private rented stock in the UK reached £840 billion at the end of 2011, a rise of 42% in only 5 years. That equates to in the region of 4.8… Continue Reading
Landlord gets community service for flouting gas safety certificate rules
A woman who owns a number of properties in Basildon which she rents to vulnerable families has been given community service for failing to keep their gas appliances well maintained and safe. Investigations by the Health and Safety Executive (HSE) found that Onyemauche ‘Fidelia’ Peel, 49, of Thamesmead in London, had not been ensuring Landlords’… Continue Reading
2012 Budget Review for Landlords
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
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