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Tenants are using falling rents in London to renegotiate their rents. It seems the tide is turning in favour of renters, and landlords stuck with buy to let mortgages are caught between a rock and a hard place.
Tenants are using falling rents in London to renegotiate their rents. It seems the tide is turning in favour of renters, and landlords stuck with buy to let mortgages are caught between a rock and a hard place.
Covid-19 may have crippled the economy and sent government debt levels soaring, but the buy to let sector is enjoying a renaissance. As lockdown eases across the UK, the number of people searching for rental accommodation has increased. This has led to many landlords increasing the rent in their properties.
Rents in London and the South East have fallen dramatically during the Covid-19 pandemic. Figures show that in inner London, rents fell by 7.4% while in outer London boroughs, they fell by 3.6%, compared to a fall of just 0.7% across the whole of the UK.
A landmark ruling in a case backed by Shelter has ruled ads stating ‘NO DSS’ tenants are unlawful. The case was pursued through the courts by a disabled single mother who ended up homeless when a letting agent refused to accept her because she was on housing benefit.
A surprise stamp duty holiday has given hope to thousands of landlords. In a bid to kick-start the housing market, chancellor Rishi Sunak has raised the threshold at which stamp duty land tax kicks in. Buyers are now exempt from stamp duty on the first £500k of a property purchase (the threshold was previously £125k). […]
Court of Appeal judges have announced their decision in Trecarrell House Ltd v Rouncefield: landlords can still serve a Section 21 notice even if they failed to issue a gas safety certificate on time, as long as the certificate is given to the tenant before the Section 21 notice.
When the COVID-19 pandemic struck, the government announced a temporary ban on evictions in the private rental sector to prevent tenants from being made homeless at a time when they needed to stay in place.
On the road to recovery:
The government has drafted a voluntary code of conduct designed to offer protection to hard-hit commercial tenants, but critics say the plan is “toothless” and it won’t protect tenants from aggressive landlords.
There is a lot to think about when you first start renting out property. From protecting deposits to checking-in your new tenants. It’s hardly surprising that some inexperienced landlords make mistakes or neglect to tick all the boxes. Now that the restrictions preventing people from moving house have been lifted, there is likely to be […]
The COVID-19 pandemic has disrupted the economy and caused havoc to so many people, and the private rental sector is no exception.
An online letting agent is calling on landlords to pass on their savings from a mortgage holiday to their tenants. The agent says landlords should not expect cash-strapped tenants to pay off their rent arrears and they should be willing to offer rent cuts during the Covid-19 crisis.
The London Renter’s Union is calling on tenants to stop paying their rent if they are struggling financially due to Covid-19. Their campaign follows hot on the heels of action taken by renters in other parts of the UK and abroad.
Times are tough for landlords and tenants right now. Huge numbers of people have lost their jobs or had their hours cut, which has made it very difficult for tenants to pay their rent. There is help in place for landlords with mortgages, as lenders have agreed to offer temporary payment holidays for anyone experiencing […]
