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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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Letting Agents Confirm Rents Are Rising Again

Letting Agents Confirm Rents Are Rising Again

Letting Agents Confirm PRS Rents Are Rising Again

The latest report from the Association of Residential Letting Agents has discovered that 36% of ARLA registered letting agents reported private rented sector rent increases in June, taking PRS rental prices to their highest point since records began.

80% of ARLA letting agents surveyed expected private rental sector rents to continue to grow significantly over the next five years.

East Midlands letting agents reported 48% of tenants were charged increased rents, while letting agents in Wales only recorded 17% of tenants facing increased rental charges.

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Looking For A Buy To Let Mortgage?

Quarter Of Potential Property Investors Don’t Know How To Apply For Buy To Let Mortgages

New Research Discovers That Quarter Of Potential Property Investors Don’t Even Know How To Apply For Buy To Let Mortgages

New research by a specialist mortgage lender has discovered that an amazing 28% of would-be property investors don’t know how to apply for a buy to let mortgage in order to finance their property purchases.

The figures show that 1 in 4 potential property investors considering investing in property to boost their retirement income don’t know how to apply for a buy-to-let mortgage to get started on their property investment journey.

The research, conducted by specialist mortgage lender Kensington, also found that 54% of people approaching retirement age would consider investing in property using buy-to-let mortgages in order to help increase their income in retirement, but many didn’t know what they needed to do or what evidence to provide in order to apply for the correct type of mortgage.

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UK Private Rental Sector Landlords Fear Upcoming General Election

UK Private Rental Sector Landlords Fear Upcoming General Election

UK Private Rental Sector Landlords Fear Upcoming General Election

With The UK’s next General Election less than 80 days away it is feared by some economists that many UK private rental sector (PRS) landlords will choose not to expand rental property portfolios this year.

Fluctuations in regional property prices and housing legislation changes have already hit the UK property market, and now the electioneering hype being spouted by MP’s from all political parties is doing very little to encourage landlords to increase their rental property portfolios.

Already there is a great deal of talk and speculation about the possible introduction of rent controls and the threat of increased taxes for landlords as the current Government and opposition MP’s attempt to leverage the strength of the UK’s buy to let property market.

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New Data Reveals UK Private Rental Sector Hotspots

New Data Reveals UK Private Rental Sector Hotspots

Private Rental Sector Rents Continue To Rise
In 10 Out Of 12 UK Regions

New data published by HomeLet has revealed some UK private rental sector hotspots for property investors and portfolio landlords to consider.

In some areas of the UK PRS rents have continued to increase, despite all the doom mongering that is going on in the media, with rents increasing by the most in:

  • Leicester – PRS rents up 45% on 2013
  • Southall – PRS rents up 38% on 2013
  • Cambridge – PRS rents up 24% on 2013

Meanwhile other parts of the UK witnessed the biggest falls in rental prices in 2014 on new rental agreements with the biggest rental price falls recorded in:

  • Colchester PRS rents Down 24% on 2013 prices
  • Croydon – PRS rents down 23% on 2013
  • Brighton – PRS fall 18% lower than 2013 prices.

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Recent Survey Discovers UK Landlords And Tenants are happy!

Recent Survey Discovers UK Landlords And Tenants are happy!

Four Out Of Five Tenants Happy
With Their Landlords

The majority of tenants living in private rental sector (PRS) rented properties have nothing but good things to say about their landlords, according to a survey conducted by Saga Home Insurance.

In a poll of UK tenants conducted by the insurance company, 77% of tenants who responded rated their landlord as either ‘good’ or ‘excellent’.

Fewer than 8% of tenants, (1 in 10) described the quality of service they received from their landlords as ‘poor’, which the insurance firm claimed to be contrary to popular stereotypes.

The survey surmised that UK landlords are largely a morally sound, ethical group of business people!

However, 56% of the tenants polled by Saga still identified room for improvement in their tenant-landlord relationships. With:

  • 23% of tenants complaining about hard-to-reach landlords
  • 21% of tenants had reservations about the quality of tradesmen used for repairs.

The insurance firm also spoke to landlords themselves about their relationships with tenants, and the biggest obstacles to a cordial co-existence with their tenants were:

  • Late rent payments cited by 37% of landlords,
  • Damage to rental property – 32%
  • Failure to provide notice when vacating rental property – 20%.

Finally, the insurance company also discovered that at least 10% of landlords, an alarming one in ten,  had not paid tenants’ deposits into one of the three the Deposit Protection Schemes currently in operation, which as well as being illegal, can result in problems when tenant eviction becomes necessary.

Saga’s head of home insurance, Sue Green, commented on the survey results, saying “In the age of housing shortages and escalating rents, landlords have been getting some bad headlines, but the research shows the extent to which this portrayal is unfair. The vast majority of landlords are conscientious and ethical, although tenants do believe more can be done which is why we have released a guide with practical tips to help them improve their ethical credentials.”

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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Tenants Fighting Each Other Over Rental Properties As Supply Drops And Demand Increases

Tenants Fighting Each Other Over Rental Properties As Supply Drops And Demand Increases

Tenants Fighting Each Other Over Rental Properties
As Supply Drops And Demand Increases

Tenants looking to rent in the UK’s private rented sector face competition from other would be tenants as demand increases and supply contracts, according the Association of Residential Letting Agents (ARLA).

ARLA’s latest report has discovered that 68% of landlords surveyed reported more interested tenants than available rental properties.

This is the largest successive increase in tenant demand in the last 12 months, with tenant demand figures up from 46% in Q3 2013, 54% in Q1 2014, 59% in Q2 2014; meaning an increase of 9% between the second and third quarters of the year to date.

The tenant demand data is reinforced by the fact that supply of suitable rental properties in the private rental sector has decreased in the last quarter, with ARLA letting agent members recording a 6% drop in the average number of managed Buy To Let properties on their books, down from 143 to 135 per member agency.

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Property Turn Offs Are Good News For Property Investors

Property Turn Offs Are Good News For Property Investors

The Top 20 Property Turn-Offs
That Are Good News For Property Investors 

There are a number of obvious things that can put the general public off buying a property including damp, rotten windows and lack of a garden among the list of deal breakers for potential property buyers.

A survey by popular comparison website gocompare.com found that 70% of potential property buyers would not buy a property which had damp patches or stained walls or ceilings, 63% were put off by properties in a poor state of repair and 15% were put off by clutter.

Properties with problems are good news for landlords and property investors, as they have experience of rectifying issues in order to turn a profit and problems mean discounted sale prices, allowing equity to be locked into the deal from the start.

Generally, ordinary home buyers are afraid to spend money on issues that they know nothing about, however landlords and property investors can see beyond the solution and realise potential profit by fixing the issues that put off everyday home buyers.

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MPPT Spotlight are focusing on Tenants this week with a series of articles on getting the best out of tenant

MPPT Spotlight are focusing on Tenants this week with a series of articles on getting the best out of tenants

Tenants Thoughtlessness
May Go Against Tenancy Agreements

According to new research conducted by Ocean Finance, the majority of tenants in the private rental sector could be guilty of breaching their tenancy agreement for their rented properties.

The study found that 94% of tenants in private rented sector properties admitted to acting in a manner that could be considered to be in breach of their tenancy agreements, as not all tenancy agreements include restrictive clauses, but many do.

The survey discovered that:

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