Landlords Associations found that there are different approaches in dealing with the letting business between female and male landlords; where female landlords are more supportive and understanding towards their tenants than male landlords.
Women are typically more understanding and caring in comparison to men. According to a research of 500 property women by the Landlords Associations, female landlords were resulted having different approaches to their tenants compared to the male property holders. Read more…
Government’s Green policy is urged to change targeting the commercial property market, as emerged by the country’s biggest property companies.
Government’s Green policies plan to reduce carbon emission of the commercial market to 1990 levels by 2050 are set to fail, according to some property companies. Report has showed that real estate is responsible for about 50% of the total carbon emissions in the UK; thus, Government should focus and target more on the property market in order to achieve the goal of reducing carbon emissions by 2050. Read more…
Private landlords have increasingly taking in housing benefit claimants on their rental properties, emerged by Business Development Research Consultants (BDRC).
Market researcher, Business Development Research Consultants (BDRC), showed an increase in the proportion of private landlords taking up housing benefit claimants in their rental properties. Report illustrated that the proportion of British private landlords letting to benefits claimants has risen to 20% in the first quarter of 2009 from 9% in the previous quarter.
It has been explicated that the issue of increasing tenants on benefits is because private landlords are being squeezed by the increasing cost of buy-to-let mortgages as well as its lack of availability; also, more tenants have financial problems in paying their rents under the economic downturn. With the higher risk of tenants struggling and not paying the rent, many private landlords have switched to housing benefit claimants who had regular “benefits” from the Government. Read more…
Renting the property or rooms is a good way to earn some income during the recession. Research has shown that almost 5 million homeowners have considered renting their home or rooms out to survive through the economic downturn.
The current economic climate has certainly affected the UK property market. As the house prices have fallen significantly in the past year, nearly 5 million homeowners have revealed that they would consider being “reluctant landlords” renting out their house or room for extra money. It has also been recorded that a third of this group considered renting out their property to avoid making a loss for sale in this current market situation.
Research illustrated those 280,000 homeowners considered renting their properties or rooms out because they cannot find a buyer. National Landlords Association (NLA) estimated that 43% of landlords came into the residential letting market unintentionally. Read more…
UK housing market resulted significant increase in repossessions this year. The number of people who have lost their homes has increased more than 50% to a total of 12,800 in the first three months this year, compared to 8,500 properties lost in the same period last year, Council of Mortgage Lenders (CML) reported.
According to the Council of Mortgage Lenders (CML), repossession in the UK has increased considerably from 8,500 properties in first quarter 2008 to 12,800 in same quarter 2009. This figure has showed a 50% jump in repossession whilst reflecting the situation and effect on homeowners under the economic downturn. Expert has further forecast that the total number of repossessions would increase to 75,000 in 2009; compared to 40,000 properties being repossessed in 2008.
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After the Times’ revealed the landlord registration plan considered by the Government in England on 5th May 2009, a proposal on private rented sector has finally publicised today in response to the independent report by Julia Rugg and David Rhode on the buy-to-let market in October 2008.
The Times had reported that a compulsory registration scheme would be launched to all private landlords in England on 5th May 2009 in response to the “Rugg Review”, which aims to protect tenants from unscrupulous landlords as well as to suggest and impose more regulations in order to increase the quality of the buy-to-let market. After the revelation from the Times, the Government has finally announced and exposed its detailed proposal today regarding these issues and providing greater support to the landlords and tenants in the private rented market. Read more…
Spring time has come and it is nearly the end of the University academic year: students are busy to look for places to stay for their next academic year. As recommended, spring time is always the best time for landlords to attract student tenants to take up their properties.
As the academic year is nearly over, there are more demands on the buy to let industry among the students. This year, the industry should be expecting more student tenants since more individuals are going back to school due to the economic downturn. Both finalists and the unemployed are considering furthering their studies and gaining more qualification under the recession. There is about 8.8% increase in students applying through UCAS for an undergraduate degree. Particularly, there is an increase of 15.8% of mature students applying for university places in England this year. Under these situations, classes of every faculty would possibly intake students to maximum. Read more…
