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:
- According to an RLA survey, almost half of buy-to-let landlords could quit if the government goes ahead with its plans to end Section 21. Nine in 10 landlords support the idea of a special housing court to bring all housing disputes under a single body.
- Prior to the release of its Section 21 survey results, the RLA welcomed the government’s pledge to review court procedures and make repossession of properties easier for landlords when there are legitimate reasons.
- The Tories may have lost their grassroots support because of their atrocious handling of Brexit, but it appears that their atrocious handling of the BTL market has lost them the support of the UK’s landlords, too. According to the NLA, almost 70% of BTL landlords voted Tory in the 2017 general election. Only 16% of NLA members would now vote Tory.
- Rental market demographics continue to evolve. Middle-aged workers are less able to buy a home today and more likely to rent. Research commissioned by Intus Lettings found there has been a 15% rise in the number of people aged between 35 and 44 who now rent in the last three years.
- The Right to Rent guidance has been updated, in preparation for the new post-Brexit world – should it ever happen. You may not be border police, but you must check EU nationals’ right to rent.
- Ever wondered how much you are likely to make as a landlord? Figures released by Hamptons show that 85% of landlords sell for a profit, and the average profit is £80,000. This is down a little on 2017, but still a cracking result with an average hold time of less than 10 years.
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.
Half of the landlords more likely to sell over Section 21 plan
Nearly half of UK landlords and letting agents are more likely to sell some or all of their rental homes as a result of government plans to end Section 21 repossessions, so-called ‘no fault’ evictions. (Read more)
RLA welcomes MP’s pledge to fix court system before Section 21 is scrapped
The Residential Landlords Association (RLA) has welcomed the housing minister’s pledge to make changes to the courts to speed up the ability of landlords to repossess properties for legitimate reasons. (Read more)
Landlords abandon Tories in protest at the buy-to-let crackdown
Landlords are turning their backs on their traditional ally, the Conservative Party, to punish it for a series of policy changes that have squeezed property investors like never before. (Read more)
Middle-aged renters on the rise
Rising UK house prices have left many middle-aged workers unable to afford a first home, or as accidental renters after a relationship break-up, which is why significantly more older tenants are now renting from a private landlord than they were a few years ago. (Read more)
Post-Brexit Right to Rent guidance issued
New guidance on Right to Rent checks for EU citizens after Britain leaves the European Union has been published by the UK government. (Read more)
Where landlords are cashing in on buy-to-let
Times may be tougher for Britain’s landlords, but new figures suggest the blow of selling up for many has been softened by years of house price gains. Figures released today from estate agents Hamptons International show that landlords who sold a buy-to-let property in England and Wales last year did so for £79,770 more than they paid for it. (Read more)
Letting market activity slows
There was a notable drop in the number of new rental listings, while the volume of properties let last month also fell, as reduced supply restricted choice for potential renters, according to the latest data from the Agency Express Property Activity Index. The figures show that there was a 14.1% drop in national month-on-month figures for new listings to let in April, while properties let during the period fell by 9.9%. (Read more)
Inventory provider anticipates a surge in tenant activity next month
Landlords and letting agents are being urged to prepare for a significant increase in tenant activity from the start of next month. No Letting Go believes that many tenants will be looking to move after the Tenant Fees Act officially becomes law on 1st June in order to avoid paying upfront fees and benefitting from capped security and holding deposits. (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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