The news that all UK landlords need to know

At Ezytrac, our business is to ensure that our landlords and their tenants get the best service possible. So, it won’t surprise you that we are avid watchers of all the news that affects UK buy-to-let landlords, investors and tenants.

We’ve captured the news that you may have missed recently and that we think you can’t afford to ignore. Below are our top 10 buy-to-let news items from the last few weeks. These include:

  • Average rents are up by 1.9% year-on-year, with rents rising strongly in London again. Other rental price research shows that rental affordability has improved modestly. In the North, renting is more affordable than it has been for 10 years. (On the subject of rental price increases, our landlords are benefitting from an average 4.6% rise – more than twice the rate of inflation.)
  • The rise in popularity of staycation holidays could offer some huge potential for buy-to-let investors to diversify their portfolio and benefit from this growing market.
  • The government is racing toward a ban of Section 21 evictions. It says it will improve the court process to allow speedy repossession of property for landlords. Is it the right strategy?
  • Despite the fanfare when banning orders were introduced for rogue landlords, the legislation appears to have been a complete failure. Not a single banning order has been made.
  • A warning to tenants: fraudsters are preying on you. Fake landlords are on the prowl and targeting desperate tenants who are going DIY and searching for a home without using a letting agent or property manager.

You can read more about each landlord news item by clicking on the headline or the ‘Read more’ link. And don’t forget, if you have any questions, get in touch with the team here at Ezytrac.

·      Slow growth in rents leads to ‘modest improvement in rental affordability’

Weak rental growth has resulted in improved affordability for renters across many parts of the country, including London, while rents in Northern regions are now the most affordable for a decade, new research shows. (Read more)

·      Average rents up 1.9% year-on-year

Rents in Great Britain increased 1.9% year-on-year in March, driven by a 3.7% rise in Greater London where rents hit a record high, according to new research. (Read more)

·      Rise in popularity of the ‘staycation’ creates opportunities for BTL landlords

The rise in popularity of holidaying in the UK – or ‘staycation’ – has led to a mini-boom for the UK tourism industry. (Read more)

·      Is a holiday let a good investment?

Buy-to-let property investors have been put under some pressure over the last couple of years. However, property remains a solid investment in the UK. Are holiday lets a good investment for investors who want to maximise the potential of investing in UK property? (Read more)

·      Government set to abolish Section 21

The government is today proposing to consult on scrapping Section 21, so-called ‘no fault’ repossessions in the private rented sector in favour of improving the court system to ensure landlords can more speedily repossess properties through them in legitimate cases. (Read more)

·      Mum ‘’searching for a warmer house for kids’’ loses entire deposit to a fake landlord

A mum-of-two who’d been saving for months to raise enough money to move her kids to a warmer home has revealed how she lost hundreds of pounds to a ‘fake landlord’ and is now trapped. (Read more)

·      RLA welcomes tax relief for rental home improvements proposal

The Residential Landlords Association (RLA) has welcomed calls by a parliamentary committee for tax incentives for private landlords to improve the quality of their property. (Read more)

·      How will the gas boiler ban affect BTL landlords?

On 13th March the Chancellor announced that it will be illegal to install gas boilers in new build homes from 2025. The decision was taken after advice from the government’s independent advisory organisation, the Committee on Climate Change (CCC). Will these affect landlords? (Read more)

·      Banning orders flop: not even one issued after 12 months

This was despite a prediction a year ago that there were as many as 10,000 rogue landlords in England alone and that a possible 600 would be put on the database. (Read more)

·      New EPC rules mean buy-to-let landlords could face costs of £8,500 

Buy-to-let landlords can no longer claim a funding exemption from making their properties more energy efficient – meaning they could be on the hook for improvement costs of up to £3,500 and fines of up to £5,000 if they fail to make necessary changes. (Read more)

For the news, advice and services that will make a real difference to your property investment profits, get in touch with Ezytrac at  +44 0 1522 503 717. We make property management effortless.

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Brett Alegre-Wood