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Right To Rent Immigration Checks Making PRS Landlords Over Cautious

Right To Rent Immigration Checks Making PRS Landlords Over Cautious

Lawful Tenants Refused Rental Properties
Because Of Right To Rent Immigration Checks

Right to Rent immigration checks could cause more UK private rented sector (PRS) landlords to refuse tenancy applications from lawful tenants because they are over cautious about letting to tenants with foreign accents and names or have unfamiliar identity documents.

According to the Residential Landlords Association, (RLA), the complexity of the Government’s plans to turn landlords into unpaid Border Agency staff could see lawful tenants being refused housing.

The warning comes as new research by the Joint Council for the Welfare of Immigrants (JCWI) indicates the difficulties caused by the Government’s Right to Rent scheme, originally piloted in the West Midlands, concluding that UK PRS landlords Right to Rent checks have resulted in discrimination against tenants who appear “foreign”.

The JCWI research discovered that:

  • 42% of landlords were less likely to consider tenant applications from someone who did not have a British passport,
  • 27% of landlords were reluctant to engage with tenancy applications from people with foreign accents or names

Under the new immigration bill, PRS landlords are set to be legally responsible for checking the immigration status of tenants. Following the pilot scheme in the West Midlands, the Government recently announced that the immigration checks by landlords would be expanded nationwide, with landlords facing up to five years in prison for failure to undertake the Right to Rent checks.

Residential Landlords Association policy director, David Smith, said: “Whilst the RLA opposes discrimination against tenants because of their race or nationality, the Government’s plans are causing confusion and anxiety for many landlords. If the Government expect landlords to act as border police it should provide the training and material needed to give them the confidence to carry out the checks required of them. In the absence of such support, today’s research sadly shows the inevitable consequences of the policy which the RLA has long voiced concerns about. Faced with considerable sanctions, landlords will inevitably play it safe where a tenant’s identity documents are either unclear or simply not known to them. It is concerning that the Government remains committed to rolling out the Right to Rent policy nationwide without first publishing its assessment of the impact it has had in its own pilot area. Ministers should halt plans to proceed with its rollout to allow time for proper scrutiny and consideration of the impact it is likely to have.”

The research by the Joint Council for the Welfare of Immigrants comes before the publication of the Home Office’s own assessment of the Right to Rent pilot scheme detailing its level of effectiveness.

There seems to be a huge communication breakdown somewhere, we as landlords are now unpaid members of the UK Border Agency, like it or not, we mustn’t discriminate against any tenant applicant because it is an “ism” and can be punished by imprisonment and a large fine, however, if we house someone in need, we leave ourselves open to prosecution and a large fine. If we act in a professional manner, we are accused of not caring, but if we have too much contact with tenants we are seen as overbearing and interfering. If we spend money on properties we are seen as rich money grabbers that are open to exploitation and if we don’t spend vast amounts to correct damage caused by tenant lifestyles as and when tenants demand then we are called tight and heartless. Homeless charities want the UK PRS closed down, the Government want as much of our profits as they can get their hands on and the media think we are all descendants of Rachman and Rigsby – How is the system supposed to work?

HMRC Tax To Deter Foreign Investment In UK

HMRC Tax To Deter Foreign Investment In UK

Estate Agents Warn That New
HMRC Tax Announcement

Will Put Off Willing Overseas Property Buyers

 

The announcement made by HMRC about altering the Government position on taxation of using foreign capital as collateral for borrowings could have a significant impact on the residential market in UK cities, especially London, according one estate agent.

Cluttons’ Head of Residential Development, Julian Briant, reckons that the new rules over the use of foreign capital in order to be able to obtain a loan in the UK will now result in a taxable remittance, making mortgages less attractive for investors hoping to use money held abroad as security.

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2 Million Foreign Investors Own UK Properties

2 Million Foreign Investors Own UK Properties

Foreign Property Investors Think UK Property Is A Safe Investment

According to the accountancy group – UHY Hacker Young, the number of foreign property investors owning UK property has now exceeded 2 million.

The accountancy group analysed HMRC data and discovered that the number of overseas property investors owning and renting out property in the UK private rented sector increased by 6% in the past 12 months to 2.04 Million, up from 1.93 Million in 2012.

In the past five years the number of foreign property investors owning UK PRS property has risen by 39%.

However, the accountancy group says that the consistent growth in the number of foreign investors targeting UK property may come to a halt following the Government’s recently announced plans to charge Capital Gains Tax (CGT) on the sale of properties owned by foreign investors from April 2015. A move which could discourage foreign buyers from investing in UK property when the deadline comes in to force.

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Capital Gains Tax For International Property InvestorsUK To Tax International Property Investors

The Chancellor, George Osborne’s has taken a step towards levelling the playing field for UK property investors after deciding to introduce Capital Gains Tax (CGT) for international property investors, a move that has attracted a mixed response from property professionals.

While UK property investors have broadly welcomed the new tax for international property investors, some industry professionals have slammed the Chancellors decision to introduce it, with some pundits speculating that it could drive foreign investors away, increase housing supply and push property prices down.

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As previously reported on “Spotlight”, the UK rental market has already seen an increase in the number of foreign investors looking to get involved in the buy-to-let sector. Read the article here

Successful Property Investor warns UK rental market is target for foreign investors

Successful Property Investor warns UK rental market is target for foreign investors

This phenomenon was recently commented on by successful property investor, mentor and professional speaker Dr Rohan Weerasinghe who regularly speaks at UK Property Networking Events. He explained that overseas property investors are keen to secure properties that can produce “a positive monthly cash flow”, and the UK certainly has a healthy rental market.

Dr Weerasighe claimed that the overseas investor focus is “less on capital growth” as investors are aware that the UK has not yet moved on from the effects of the recession. As a result most investors are more interested in acquiring an income from renting properties, as a way of providing “long-term security”.

Many investors are keen to purchase run-down properties with a view to renovating them and selling them back to the market to create cash profit which can then be used to buy further rental investments. This pattern is particularly popular with Italian and German property investors and can be a very lucrative method of producing a positive monthly cash flow.

Talk to the RIGHT people

Property bargains are usually in short supply, however this is set to change as thousands of property specialists gather in London for a very special property event.

As in so many areas of commercial life, to find the really good property investment deals it’s not what you know it’s WHO you know that really counts. And the good news is that many of those “in the know” people will be attending this year’s Property Investor Show & OPPLIve – at Excel London, 11-13 October.

So if you are serious about making money from property – and looking to access some of the best “never advertised” deals available today you MUST make a point of attending. So register for free show entry today – then take advantage of our “2 for 1” Seminar Seats Offer.

2 For 1 Seminar Seats Offer
(while seats last)

Presented by some of the top names in UK & International property, this show will feature 70+ sessions over 3 days. Many will sell out before the show opens. To take advantage of this offer, follow these steps …

1. Register online for FREE show entry click here.
2. View the seminars available in this offer. Click here.
3. Complete your booking.

Note: Offer available to online applicants only ‘while seats last’. Offer closes 18.30 on Wednesday 10th October.

“… Since launch 10 years ago this exhibition has clearly established itself as the ‘Gold Standard’ live event for the property investment community. Our readers are savvy investors who know how to identify a good investment deal. This is one event that they will diarise to attend because they know what they will find …” Richard Bowser, Editor,

Show Highlights 2012 – will include…

The new styles of purpose-built student properties are one of the UK’s fastest growing property investment asset classes. They offer property investment at an affordable level with exciting yields and returns. Property bargains indeed!

Many universities simply do not have the resources to address the shortages or deficiencies in student accommodation – this creates the opportunity for the private sector to step in. Among the companies presenting a broad spectrum of student investment at this year’s show will be…

Assetz PLC, Principal International, Knight Knox Student Accommodation, Icon Inc, Pinnacle MC & Mistoria Group.

The continued growth in popularity of the USA as a preferred investment location has been one of the big news stories of the last 12 months. 5 years ago, the investment focus was on Florida exclusively – but times have changed and this show will feature a range of locations including Detroit, Memphis, Chicago, Atlanta, St Lewis, California, New York State and New York city. In fact the show will see one of the largest turnouts by companies promoting US real estate it has ever seen. Plus – a number of US property experts will speak within the seminar schedule.

Live Auction – Friday 12th October

In response to the increasing popularity of buying at auction, the show is delighted to confirm that a ‘Live Property Auction’ will take place within the exhibition on Friday 12th October.

Around 100 lots from across the UK will be presented in conjunction with auction specialist ‘MustBeSold.com’. Graham Penny – well known to followers of BBC Television’s ‘Homes under the Hammer’ auction programme – will be holding the gavel.

Auction starts at 12.00 midday.

The show’s NRI/PIO visitors will be delighted to learn that this year’s event will feature a brand new selection of Indian properties.

A particular highlight is the presentation of 2 major township projects in Gurgaon and Noida.

In addition, a broad range of property types will be available to view, from ‘city living’ in Mumbai to holiday investment in Himachal Pradesh.

One in five holiday-bed nights in the UK is spent on one of 4000+ parks. In fact the ratio would be higher in 2011 but for many parks having to refuse visitors because they had reached maximum occupancy. This trend has not gone unnoticed by the investor community – and many investors have identified ‘Park’ and leisure/Holiday-linked investments as an emerging sector that fits within a balanced investment portfolio. Be sure to speak to sector-leader Haulfryn (stand 212) about the investment options.

www.propertyinvestor.co.uk/london

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