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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
Category Archives: News
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
Shelter Calls for Tougher Sentencing for Serial Rogue Landlords
Shelter is asking Grant Shapps, the Housing Minister, to keep the Government’s promises in their Housing Strategy in November 2011: to ‘deal with rogue landlords’ and ‘tackle dangerous and poorly maintained homes’. Despite the Government’s assurances, Shelter says that rogue landlords are still cashing in on the high demand for rented homes, and trapping families… Continue Reading
FSA Publishes Damning Report on Sale and Rent Back Firms
The Financial Services Authority (FSA) has published a report which reveals that most sale and rent back (SRB) transactions were either unaffordable or unsuitable, and should never have been sold. Firms in the SRB sector faced floods of complaints for offering last-chance below market value deals to home owners facing bankruptcy and repossession. The firms… Continue Reading
Winter Weather Advice for Landlords
With the cold weather upon us, it is time to consider how to protect your buy to let investment against weather damage. If your property has a tenant in situ, you can begin by arranging a mutually convenient time to visit, and make checks both internally and externally. Pipes and tanks in the loft should… Continue Reading
Landlord Checklist for Tenancy Deposits
Mydeposits have released a step-by-step checklist to help landlords and letting agents in disputes with their tenant over the return of a deposit. The checklist gives advice on what to do at all stages of a tenancy, in order to ensure that you have the right evidence available, should a dispute arise. Although formal disputes… Continue Reading
Paul Tennant voted vice president of the CIH
Orbit chief executive, Paul Tennant, has been elected as the new Vice-President of the Chartered Institute of Housing (CIH), following a ballot by its members. His appointment follows a candidacy campaign against experienced interim manager, Jan Taranczuk. The election was held over a three week period in January, from Monday 9th January to Monday 30th… Continue Reading