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. This roundup contains our top buy-to-let news items from the last few weeks. These include the following:
- Landlords have continued to adjust how they hold their portfolios since the government introduced landlord tax changes, especially the phasing out of tax relief on mortgage interest. Research from Hamptons International shows there are now more than 640,000 buy-to-let homes held under company names.
- Mayor of London Sadiq Khan has called for more powers. He now wants to control rents. Perhaps he sees this as an essential fight against exploding youth knife crime in the capital? He thinks this will ‘rebalance London’s private rented sector’. We say he is deluded.
- Letting and property agents could face tougher regulation. About time, we say. Here at Ezytrac, we are members of professional bodies, and many of our staff hold professional qualifications already – with most others on their way. We welcome more regulation in the sector.
- While the UK government is clamping down on rogue landlords, and Sadiq Khan is hell-bent on controlling rents in the private sector, a report has found that most tenants are happy with their private rented housing. Who’d have thought this from all the negative headlines surrounding the sector?
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.
More Than One in Ten Homes Is Let by Company Landlords
The proportion of homes let by a company landlord has been rising steadily since 2016, when the tapering of mortgage interest tax relief for non-company landlords was announced. In H1 2019, 12% of homes were let by a company landlord, reaching the highest level since 2011 and up from 9% in 2015. (Read more)
Rent Control: London Mayor Sadiq Khan calls for More Powers
The mayor of London has called on the government to hand him extra powers so he can cap rents in the capital. Sadiq Khan said the controls were needed to “fundamentally rebalance London’s private rented sector” and make it “fit for purpose”. Critics said his plans were “deluded” and could have a negative long-term impact on the quality of housing. (Read more)
Final Report on New Regulatory Proposal for Letting Agents Released
Based on the Regulation of Property Agents (RoPA) Working Group’s recommendations, the final report has been compiled by the Ministry for Housing, Communities and Local Government (MHCLG). The aim is to raise the professional standards in the industry, with the introduction of a regulatory framework. (Read more)
Most Tenants Satisfied with Private Rented Housing, Says New Report
The majority of private renters were satisfied or very satisfied with their current accommodation, according to the English Housing Survey report on the private rented sector 2017/18, published yesterday. (Read more)
Government Needs to Avoid Breakdown of Trust
The government urgently needs to provide tenants with better information on their rights and responsibilities if it is to avoid a breakdown of trust between renters and their landlords, the National Landlords Association warns. (Read more)
UK Average Rents up by 13.9% in Five Years
The latest data from HomeLet shows demand for rental properties remaining high, and in examining the data from the last five years, HomeLet has found that the UK as a whole has experienced a 13.9% growth in rental values (12.5% when London is excluded). (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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