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Shelter Target PRS Landlords Again!

Shelter Target PRS Landlords Again!

Shelter Attacks PRS Landlords With
More Bogus Propaganda

The homelessness charity, Shelter are once again targeting private rental sector landlords, with claims of abuse and neglect being aimed at the sector.

Shelter claim that that 125,000 tenants have suffered abusive behaviour from landlords in the past year and the health of 1 Million private rental sector tenants have been affected by rogue landlords not doing property repairs or dealing with poor conditions in their rented property, with almost 300,000 parents who rent reporting serious impacts on their children’s health caused by poor property management.

The charity maintain that damp, mould, and bad ventilation in private rented sector properties are causing asthma, allergies, breathing problems and worse among tenants, and they are laying the blame squarely on landlords shoulders.

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UK Private Sector Rent Still Rising

UK Private Sector Rent Still Rising, Albeit Slowly

Private Sector Rents Rise By 1% Over Last 12 Months

New data published by the Office for National Statistics (ONS) suggest that private sector rents are rising below the level of average earnings for first time in many years, bringing some good news for tenants.

According to the ONS, in the 12 months to September 2014, private rental sector rental prices increased by:

  • 1% in England
  • 4% in Scotland
  • 2% in Wales

The ONS say that the UK’s underlying annual earnings growth increased by 1.2% in the year to August, up from 0.5% recorded in April 2014.

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Shelter Say Rogue Landlords Are Damaging Tenants Health

Shelter Say Rogue Landlords Are Damaging Tenants Health

New Survey Reckons PRS Properties Are In Such A Poor
State They Affect Tenants Health

According to a newspaper report published in The Independent last week, around 10% of private rental sector tenants have suffered ill health in the last 12 months because they feel that rogue landlords had failed to deal with poor conditions in their rental properties.

Housing and homelessness charity Shelter and British Gas commissioned a survey of 4,500 private rented sector tenants and reckon that poor living conditions are commonplace for tenant families in the UK’s private rented sector.

Around 50% of the tenants surveyed said they had lived in a rental property with damp or mould in the past year, and 20% of tenants said their rented home has electrical hazards, while 17% of tenants reported living with pest infestations including mice, ants and cockroaches.

Campbell Robb, Shelter’s chief executive, said “No family should have to live in a home that puts their health and well-being at risk, let alone face eviction just for asking their landlord to fix a problem. Yet every day, we hear from parents up and down the country living in fear that damp or gas and electrical hazards are putting their children in danger, but feeling powerless to do anything about it. With a bill to end revenge evictions going through parliament next month, we now have a real chance to change the law and protect renting families. We’re calling on people across the country to email their MPs and ask them to vote to end this unfair practice once and for all.”

Have Shelter got their facts wrong?

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Funding Boost For Government Build-To-Rent Plans

Funding Boost For Government Build-To-Rent Plans

Finance Secured To Build Thousands Of
Affordable Properties For Rental Purposes

Government housing minister Kris Hopkins has welcomed a deal that will release £500 Million (GBP) of additional funding to build new affordable residential properties in the UK.

The new investment finance has been secured through an agreement with the European Investment Bank (EIB), that will help deliver up to 4,300 new and affordable homes to rent in areas of the UK.

The funding is set to form part of the £3.5 Billion (GBP) Affordable Housing Guarantees programme, which enables housing associations to use Government guarantees to secure private investment at more competitive rates than they would otherwise be able to secure.

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UK PRS Landlords Expect Tenant Demand To Increase

UK PRS Landlords Expect Tenant Demand To Increase

UK PRS Landlords Confident About Continued

Strong Tenant Demand

As we reported yesterday (UK Property Boom ContinuesSpotlight – 7th January 2014), the private rented sector boom looks set to continue throughout 2014 and a recent survey conducted by LSL Property Services, has discovered that six in ten UK private rented sector landlords agree.

The LSL survey of 2,195 private rental sector landlords found:

  • 58% of UK PRS landlords are confident that tenant demand will continue to increase over the next twelve months
  • 41% of UK PRS landlords reported growth in tenant demand in past six months
  • 16% of UK PRS landlords expanded rental property portfolios during 2013
  • 18% of UK PRS landlords expect to expand their rental property portfolios in 2014
  • 10% of UK PRS landlords expect tenant demand to fall
  • 6% of UK PRS landlords experienced a drop in tenant demand
  • 77% of UK PRS landlords believe now is a good time to buy or sell rental property
  • 71% of landlords cited attractive property prices
  • 50% of UK PRS landlords highlighted better capital returns on offer compared to other types of investments
  • 47% of landlords said that strong tenant demand was a key investment driver

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Expect 1 Million More PRS Tenants In 5 Years

Expect 1 Million More PRS Tenants In 5 Years

UK PRS should prepare for a million more tenants, say Savills

Giant UK estate agency, Savills are predicting a massive increase in the number of tenants living in the UK private rented sector (PRS) over the next five years.

The company is also predicting that more UK housing associations will seize upon a fantastic business opportunity and that these associations will add to increasing competition for private rented sector landlords.

Savills say there were 4.3 million tenanted households in the private rented sector in the UK during 2011 and tenant demand remains strong despite the recent upturn in the UK economy and recovering housing market, leading to the prediction of at least another 1 Miliion additional tenancies being required over the next five years.

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Government Seek Bids For Build-To-Rent Scheme

Government Seek Bids For Build-To-Rent Scheme

Build-To-Rent scheme seeking bids from property developers to help bring about the fastest rate of affordable residential property construction for two decades 

UK Government Housing Minister, Mark Prisk, last week announced a second round of funding for the construction of new rental properties and the government are seeking fresh bids for a share of at least £400 Million (GBP) to build new properties specifically for the private rental sector (PRS).

The funding is part of the flagship £1 Billion (GBP) Build-To-Rent fund, which offers support for property developers and property investors who want to get into the private rental sector for the first time.

Mr Prisk said the new Build-To-Rent scheme would encourage investment in the UK’s private rental market and offer prospective tenants a greater choice of rental property. The scheme is intended to run alongside up to £10 Billion (GBP) in government housing guarantees.

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UK Property Prices Increase Again

UK Property Prices Increase Again

UK Residential Property Prices
Return To Good Health

UK residential property prices increased again in June 2013, marking the return to good health of the property market.

Property price rises are at their fastest rate in over two-and-a-half years as mortgages became more available and less expensive, adding to fears of another property market bubble as overall housing supply remains low.

The latest monthly residential property price index from UK mortgage lender, Nationwide, shows that UK property prices were up 0.3% in June 2013, while the annual increase of 1.9% was the sharpest residential property price increase since September 2010, but those gains were below the 0.4% monthly rise and 2.1% year-on-year price increases forecast by many economists.

In May 2013, residential property prices rose an unrevised 0.4% on the month and 1.1% on the year overall, signalling the recovery of the UK property market.

The number of mortgages approved by UK banks also increased by a quarter in the twelve months to May 2013. However, over the same period, the value of outstanding mortgage loans secured on property dropped by 0.2%.

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Landlords Can Do More To Retain Tenants

Landlords Can Do More To Retain Tenants

Helping Tenants Move Rental Property

There are occasions when landlords need to rise above expectations in order to retain good tenants, even if it means the landlord has to make some arrangements or do extra work.

When tenants request to end a tenancy so that they can move property, there are times when portfolio landlords are in a position to offer them a choice of alternative rental properties to choose from, rather than lose good tenants.

Tenants may want to move for a variety of reasons, including moving to a smaller property that costs less to rent and live in and run due to a change in their circumstances. Downsizing can be a daunting process for anyone because many decisions need to be made about what to take and how much furniture is needed.

In such circumstances it makes sense for the landlord to go above and beyond normal expectations and help the tenants as much as possible, after all if the tenants pay the rent every month without fail and have looked after and even improved the property they currently live in, they are very likely to repeat their actions, benefitting the landlord, so going the extra mile for them is good business.

One way for landlords to help tenants decide what furniture of their own they will be able to take to the new smaller rental property is for the landlord to provide them with an accurate plan of the property including measurements of the size of the rooms and they can then map out each room so that they can work out what will fit.

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Residential Property Prices Continue To Rise

Residential Property Prices Continue To Rise

Residential Property Prices Up For Fourth Consecutive month

UK residential property prices increased for the fourth consecutive month in May 2013, according to the latest Halifax House Price Index (HPI).

Data from the latest Halifax House Price Index has shown that UK residential property prices rose by 0.4% in May 2013.

This means that the value of UK residential properties have now risen for four consecutive months, with prices in the three months to May 2013 coming in at 1.5% higher than in the preceding three-month period.

UK residential property prices have been rising modestly on this quarter-on-quarter measure since December 2012, with price increases between 1-2% in each of the past five months, while an increase in residential property sales has also been observed in the property market.

The Halifax House Price Index report as a whole indicated that UK residential property market conditions are better now than they were in 2012, with the ratio of residential property sales against the stock of unsold properties improving and demand for UK residential property purchases gradually gaining momentum.

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