Each month we bring you the latest news on landlords and tenancy with a quick round-up all in one place.
A Look Ahead at Lettings Legislation in 2022
Newsagent (10 min read + Audio)
This is a great post covering the latest on the Regulation of Property Agents, the Renter’s Reform Bill and Minimum Energy Efficiency Standards. You can use the handy links to jump to topics of interest and listen to the audio version if you prefer.
Full story > https://bit.ly/3IyvSq9
Voids Drop as Renters Rush to Capitalise on Cooling Prices
Newsagent (1 min read)
Tom Mundy, Chief Operating Officer at Goodlord says that a ‘slight dip in rental costs is being capitalised on by tenants’ and that the market in November has been ‘really encouraging’. Get the latest stats in this brief article.
Full story > https://bit.ly/31OYQkK
Average Tenancy Lengths are Increasing, English Housing Survey Shows
Landlordnews (3 min read)
A new survey has revealed that private renters, on average live in their home for 4.3 years before moving on. This is an increase from a figure of 4.1 years back in 2017/18. What are the implications for landlords?
Full story > https://bit.ly/3ycnxDD
Purplebricks and Other Hybrid Agents Have ‘Run Aground’ Claims FT
The Negotiator (2 min read)
Purplebricks’ share price has plunged 75%, this year. Why? In contrast, competitors with a more traditional model have had a very good year thanks to 2021’s bumper year. Experts point to an internal re-structure at the company plus, a key difference in the way Purplebricks transacts on each house sale.
Full story > https://bit.ly/3Gv4wix
“Landlord Licensing Won’t Work”, Claims Rightmove’s Legal Director
The Negotiator (2 min read)
It “didn’t work in Scotland… and will not work here” is the claim by David Coz, Rightmove’s Director of Legal and Compliance. However, he believes some sort of scheme along these lines will be included in a rent reform white paper due next year…
Full story > https://bit.ly/3oWF0wP
Report Offers ‘Unique Insight Into the Rental Market’ During Covid
Property Industry Eye (2 min read)
“The lettings market survived the impact of the pandemic incredibly well” says Belvoir CEO, Dorian Gonsalves. After the pandemic initially led to a freeze in rents and tenants moving, tings have largely started to return to normal levels.
Gonsalves adds “Despite the government’s efforts to encourage more people to buy, many tenants prefer to rent properties to achieve a much more flexible lifestyle.”
Full story > https://bit.ly/3lOB5jx
Fifth of Landlords have Already Improved the EPC Rating of a Property
This is Money (7 min read)
To EPC or to not EPC, that is the question. Currently all BTL homes in England and Wales are required to have an EPC rating of ‘E’ or better. According to this article 20% of BTL landlords have taken steps to improve the EPC rating of a property in the last 12 months. Others are advocating a ‘wait and see’ strategy before making significant investment ahead of regulation changes in 2022.
Full story > https://bit.ly/3IGHM1g
Energy Efficiency and Tax Allowances – LESA Revisited
NRLA (3 min read)
Following on from the article above The National Residential Landlords Association (NRLA) has published this piece about the possibility of a tax allowance to offset the cost of upgrading properties to improve EPCs. A ‘Landlords Energy Saving Allowance’ (LESA) was introduced in 2004 but it failed to gain traction. Is it time to reintroduce LESA or something similar as we head into 2022?
Full story > https://bit.ly/3rTj47D
Aaron Stannard, Head of Lettings
With over 130 years in the industry, Watsons is firmly established as a leading independent Norfolk letting agent. Whether it’s a classic let, a buy-to-let, or increasingly let-to-buy, we offer a range of services designed to make letting a property simple and hassle-free. Visit our lettings page to get in touch with a lettings specialist.
