Archive for Landlords

Should landlords lower rents to fund housing benefit cuts?

Local Housing Allowance (LHA) is already a bit of a mess, with many landlords choosing to shy away from this sector of the rental market (see 2 reasons why landlords say “no” to housing benefit tenants). Now, with the Government’s budget cuts, even more landlords will be turning away housing benefit tenants. Read more of this article (Should landlords lower rents to fund housing benefit cuts?) ...

The 2 reasons why landlords say “no” to housing benefit tenants

Because there are more tenants around than properties available to rent, landlords and letting agents are quite rightly, selecting the tenants in the best position. And given the choice, landlords would rather rent their properties to people in employment than people claiming housing benefit. Here, we discuss the reasons why. Read more of this article (The 2 reasons why landlords say "no" to housing benefit tenants) ...

Landlords and Capital Gains Tax

Capital Gains Tax (CGT) is a tax payable on a profit. The profit is calculated when an asset is disposed of e.g sold or given away. As landlords, we pay CGT when we dispose of a property other than our main residence. Profits are subject to an 18% tax for basic-rate taxpayers and 28% for higher-rate taxpayers. There are many exemptions and reliefs available to landlords to help reduce the amount of CGT payable. Read more of this article (Landlords and Capital Gains Tax) ...

Landlords and Interest rates – when will the love affair end?

Over the last 18 months, many landlords on variable rate deals have been making relatively low mortgage payments. In terms of cashflow at least, some landlords have never had it so good.

But what happens when interest rates go up? And they will go up. Read more of this article (Landlords and Interest rates - when will the love affair end?) ...

Lack of properties to rent in East and West Sussex causes higher rents

Tenants are seeing an increase in rents due to a lack of supply in the rental market.

As the number of available properties to rent remains low, compared to the number of potential tenants looking for property to rent, rental prices are pushed upwards. Read more of this article (Lack of properties to rent in East and West Sussex causes higher rents) ...

Emergency Budget 2010 – implications for Landlords and tenants

From Phillip James Letting Agents in Worthing and Brighton & Hove.

So what does the Emergency Budget delivered yesterday mean for landlords and tenants? Here are some of the key points Read more of this article (Emergency Budget 2010 - implications for Landlords and tenants) ...

Rental yields rise on buy to let properties

From Phillip James Letting Agents in Worthing and Brighton & Hove. 

Landlords are achieving a better rate of return on their property investments than they have since December 2009. The latest Buy to Let Index from LSL Property shows that landlords are yielding an average of 4.8% on their buy to let properties. Read more of this article (Rental yields rise on buy to let properties) ...

Failure to regulate letting agents and managing agents will hurt leaseholders

Phillip James Letting Agents in Worthing and Brighton & Hove is a full member of the Association of Residential Letting Agents (ARLA) , the National Approved Lettings Scheme (NALS) and The Property Ombudsman for Lettings. Read more of this article (Failure to regulate letting agents and managing agents will hurt leaseholders) ...

Landlord’s optimistic about property rental market

From Phillip James Letting Agents in Worthing and Brighton & Hove.

The latest quarterly research from BDRC Continental reveals that private landlords are at their most optimistic since the financial crisis first started to take effect in 2007.

BDRC, says that almost a third of the 519 landlords taking part in the research are making Read more of this article (Landlord's optimistic about property rental market) ...

Rental properties in Worthing and Brighton & Hove rise in value!

From Phillip James Letting Agents in Worthing and Brighton & Hove.

Landlord’s with portfolios of properties to rent in Worthing and Brighton & Hove have (at last) seen a rise in value.

Paragon Mortgages, who provide tenant assessment services and residential mortgages for landlords Read more of this article (Rental properties in Worthing and Brighton & Hove rise in value!) ...

Less than 25% of properties above-average for Energy Performance

From Phillip James Letting Agents in Worthing.

Recent research from Halifax has shown that less than a quarter of properties have an ‘above average’ energy efficiency rating.

Energy Performance Certificates (EPCs) are now required for all property being rented. An Energy Performance Certificate lasts for 10 years. To order your EPC, call Phillip James Letting

Landlords not reponsible for tenants’ water bills

A new report from the Department for Food and Rural Affairs (DEFRA) has been welcomed by landlord bodies.

It was proposed last year that landlords be automatically charged the unpaid water bills of their tenants. Read more of this article (Landlords not reponsible for tenants' water bills) ...

Buy to let makes 4.1% for landlords in 2009

Buy to let investment has ended the year on a positive, according to property-giant LSL Property Services.

The average landlord acheived a rental of £7,600 per property over the year – a yield of 4.6%. Although they also made an average £600 loss on the capital value of each property (in 2008, average capital losses were £23,000). Read more of this article (Buy to let makes 4.1% for landlords in 2009) ...

Benefit tenants could pay landlords direct (again)!

Why do most letting agents turn down potential tenants who are in receipt of Local Housing Allowance (LHA)

Ultimately, the decision on whether to accept a tenant in receipt of LHA is down to the landlord, not the agent. Read more of this article (Benefit tenants could pay landlords direct (again)!) ...

Lettings Agents in Brighton & Hove predict strong demand for rental properties in 2010

Phillip James Letting Agents – Brighton & Hove has predicted that demand for rental property in Brighton & Hove will remain very strong in 2010.

Our opinion is backed up by lettingsearch.co.uk who believe that although the outlook for the sales market over the next 12 months remains uncertain, 2010 looks set to be a good year for landlords. Read more of this article (Lettings Agents in Brighton & Hove predict strong demand for rental properties in 2010) ...

Landlords confused by Digital TV switchover

Landlords are still confused by what they need to do in order to ensure that their rental properties are ready for the digital TV switchover. According to Digital UK, properties in Worthing will be switched over in 2012. Read more of this article (Landlords confused by Digital TV switchover) ...

Housing charity agrees with Worthing Letting Agents – LHA is failing tenants

Phillip James Letting Agents in Worthing has long claimed that Local Housing Allowance is not currently benefiting tenants (specifically because most tenants can no longer opt for their allowance to be paid direct to landlords).

In their report ‘For Whose Benefit’, housing charity Shelter agrees with us, saying that systematic flaws in the way Local Housing Allowance is administered has led to many tenants falling behind with their rent payments and facing the loss of their homes. Read more of this article (Housing charity agrees with Worthing Letting Agents - LHA is failing tenants) ...

Worthing letting Agents and landlords experience the xmas rush

Phillip James Letting Agents in Worthing have found that we’ve been busier than usual for this time of year and this seems to be the case for many letting agents in Worthing and the surrounding areas. Read more of this article (Worthing letting Agents and landlords experience the xmas rush) ...

Surveyors agree – rental prices are about to rise

Recent months have since a decrease in the amount of property available to rent, according to the latest RICS letting survey. The fall in available property has led to surveyors feeling optimistic about rent increases for the first time since July 2008. Read more of this article (Surveyors agree - rental prices are about to rise) ...

Brighton & Hove rental prices to rise

Phillip James Letting Agents in Brighton & Hove report that many landlords and tenants believe the price of renting in Brighton & Hove will rise next year, resulting in a record number of lets being completed this November. Read more of this article (Brighton & Hove rental prices to rise) ...

Buy to let in Brighton & Hove entering a ‘new-era’

Buy to let in Brighton & Hove has changed since the global financial crisis hit us. It is only eighteen months ago when it seemed that anyone could raise a mortgage for buy to let purposes. Then the money dried up, buy to let investment pretty much dissapeared overnight. The only people investing in property in Brighton & Hove were cash buyers who could afford to take advantage of a sluggish sales market. Read more of this article (Buy to let in Brighton & Hove entering a 'new-era') ...

A Landlord’s relationship with a Letting Agent

Within the rental industry, a Letting Agent is considered to play a most important role. The level of service received from your Letting Agent could be the difference between a great experience and one of which you would rather not talk about again. Taking this into consideration, what are some of the responsibilities and duties you should expect a Letting Agent to take on? Read more of this article (A Landlord’s relationship with a Letting Agent) ...

Evicting a tenant

Being educated on the eviction process is a crucial skill that should not be overlooked by Landlords. Not only will mastering this skill save you headaches and phone calls, it will also save you from financial losses.

Let’s take a look at some important points to consider: Read more of this article (Evicting a tenant) ...

Landlords urged to make sure they use quality Letting Agents

The Property Ombudsman has said that complaints about letting agents is currently the number one reason that people contact him for help.

In his latest report which covers the second quarter of 2009, the Ombudsman, Christopher Hamer, says that 110 people a week have been contacting him about problems with their letting agents. Read more of this article (Landlords urged to make sure they use quality Letting Agents) ...

Landlords and mortgage arrears: a harsh reality

It has been reported that Landlords experiencing difficulty making their mortgage payments are being charged an average of £25–£50 for each month they are in arrears. In addition to this, many of the major mortgage lenders – like Halifax and Abbey – have the right to take a monthly ‘administration charge’, usually within the same range, in the event of arrears. Read more of this article (Landlords and mortgage arrears: a harsh reality) ...

Worthing rents rise for the first time this year

Rents in Worthing have risen for the first time this year, according to the latest Phillip James Letting Agents rental survey.

The survey analyses advertised rental prices from Worthing postcodes on popular property sites such as Rightmove, Findaproperty, Propertyfinder and Primelocation.

Rents advertised by Landlords and Letting Agents in Worthing have been falling since January 2009 when the Read more of this article (Worthing rents rise for the first time this year) ...

6 million young people rely on Landlords, Letting Agents or parents for rental properties

Despite the recent falls in house prices, millions of young people remain forced to rent properties or continue living with parents, according to a recent report by The National Housing and Planning Advice Unit. Read more of this article (6 million young people rely on Landlords, Letting Agents or parents for rental properties) ...

Landlords ‘placing tenants under greater scrutiny’

Landlords seeking tenants for expensive properties are becoming increasingly exacting in their scrutiny of prospective tenants, according to a property agent.

Knight Frank told the Financial Times that letting agents are looking to perform thorough financial background checks on those enquiring about London flats amid rising fears of rent defaults or renegotiations. Read more of this article (Landlords 'placing tenants under greater scrutiny') ...

Landlords ’seeing increase in rent payment issues’

Landlords are finding that an increasing number of tenants are struggling or unwilling to pay rent, according to new research by Arla.

A survey conducted by the letting agents association has revealed that 93 per cent of its members have seen an increase in tenants attempting to secure rent reductions, with the figure rising to 98 per cent in central London. Read more of this article (Landlords 'seeing increase in rent payment issues') ...