Renting news

NLA: Background tenant checks to include immigration status

Landlords in the UK property market will soon have another issue to contend with when it comes to letting their properties to tenants, as the Queen's speech has suggested they might have to check the immigration status of those renting from them. At the moment, owners already have to deal with issues such as references, checking that people are employed and have the ...

9th May 2013

Tenant arrears on the rise

The number of people living in buy-to-let accommodation across the UK who have fallen into arrears with regards to their rental payments is on the rise, a new report has shown. According to the findings of LSL Property Services, the number of tenants who are in 'severe arrears' has jumped by 4,000 households to reach 94,000 in the first three months of 2013. This ...

5th Apr 2013

Rental costs falling - know how to maximise your income

The cost of renting a property is falling across the UK, potentially leaving a raft of landlords who saw the potential of getting themselves a buy-to-let mortgage in the past looking at ways to keep themselves competitive and their properties filled. According to the latest report released by LSL Property Services, monthly charges for tenancy dropped in February, with ...

18th Mar 2013

Rental market boosted by recession

In recent times, it has become more and more difficult for people to purchase their very first properties for sale in the UK. With increased scrutiny from banks and mutuals when it comes to mortgage lending, first timers are typically having to stump up around 20 to 25 per cent of the value of a house to secure a loan to buy it. And now, according to a new survey, this has ...

5th Mar 2013

More landlords now using their property as a pension

A greater number of Brits operating in the market for property to rent are now seeing their investment as something they can fall back on in their retirement. According to the findings from the BM Solutions/BDRC Continental study, the volume of people who see this as a useful way to fund their later life is increasing. As many as 84 per cent now believe that the money they ...

22nd Feb 2013

Unauthorised subletting concerns aired as practice rises

The rising prominence of the practice of subletting has led to an increase in the concern for landlords, a new report has stated. According to findings from lettings insurer and tenant referencing firm LetRisks, there are a growing number of tenants who are taking out a lease with a landlord and then renting out the property in question to a third party without prior ...

20th Feb 2013

Letting agency regulation is a necessity, says Rics

People working in the buy-to-let sector of the UK property market as lettings agents should face greater scrutiny and regulation in the future, a new report from the Royal Institute of Chartered Surveyors (Rics) has claimed. The organisation had reported towards the tail end of last year that close to 90 per cent of people across the country felt that letting agents should ...

6th Feb 2013

Govt unveils new housing guarantee schemes

The Department for Communities and Local Government (DCLG) has unveiled further details on two new housing guarantee schemes that will aim to provide a significant boost to the UK's rented housing sector over the coming years. Housing minister Mark Prisk and chief secretary to the Treasury Danny Alexander made a joint statement outlining the new £10 billion ...

5th Feb 2013

Landlords urged to carry out greater number of property checks

British landlords with rental homes have been urged to make checks and inspections of their properties a more regular affair to ensure that damage and other issues are kept to a minimum in the long run. According to one expert, the fact that the average length of a tenancy is greatly increasing at the moment, with the demand for renting being far higher in recent years ...

29th Jan 2013

Average rent drops as arrears grow

The cost of renting in the UK has been almost constantly rising for more than a year in the UK property market, thanks to the demand that has remained in place, and the fact that people cannot afford to buy their own houses. However, in spite of this, December saw a drop in the average price tenants paid on a monthly basis. The mean payments dropped to £734, a fall ...

18th Jan 2013

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