UK Real Estate RSS News Feeds

London Estate Agents News: Make money by renting out your spare room

Fri, 07 Oct 2011 16:50:20 +0100

People who have secured UK mortgage deals on flats & houses for sale in West Hampstead, London, might be able to make some income on the side by renting out their spare room.

Property expert Michael Holmes explained that many homes have unused spare rooms that are only collecting junk, so there is "enormous letting potential" across the UK.

"By taking in a lodger, you can earn serious money. In fact, under the government's rent a room scheme you can earn up to £4,250 tax free and there aren't many opportunities these days to earn tax free money," he pointed out.

However, property owners might need to take out landlord insurance because they could face large bills if the house sustains damage while a tenant is living there.

"Anybody who is thinking of taking in a lodger would first of all want to make sure that their insurance company are aware of what they are up to, there is no point in trying to do this under the radar, because you are not going to be paying any tax anyway, for most people," Mr Holmes added.

London Estate Agents News

Change of Use News: Conversion of empty homes 'cheaper than new build properties'

Tue, 28 Jun 2011 16:40:53 +0100

As the rate of new build properties being constructed is at its lowest since the 1920s, it is important to consider all the options to address the growing housing shortage.

David Ireland, chief executive at Empty Homes, noted that there is a "real problem" with regard to increasing housing waiting lists.

"The amount of homes that are being built at the moment is well short of the numbers needed to deal with that problem, therefore you have got to look at what other options there are for providing homes for people - particularly providing affordable homes," he said.

One such option is to upgrade derelict properties in London and other parts of the country to turn them into homes, business start-ups and community centres.

"It is certainly cheaper than building a new house," added Mr Ireland.

Under government plans announced by planning minister Greg Clark, red tape could be cut to encourage 'meanwhile uses' of empty buildings.

Change of Use News

Health & Safety News: Landlords reminded to tackle carbon monoxide dangers

Wed, 26 Jan 2011 17:15:35 +0000

A new reminder has been issued regarding the danger of carbon monoxide, which is one of many health and safety issues for landlords.

Confused.com's head of utilities, Gareth Kloet, pointed out that as the cold weather is set to continue, it may be a good idea to check that each property has an up to date gas safety certificate.

"This is a legal requirement in rental properties but should be considered essential for all households," he noted.

"I'd encourage everyone to get gas appliances checked before switching them on and to check that chimneys, flues and vents have not become blocked over the summer."

Carbon monoxide poisoning can be fatal because the emissions cannot be seen, smelled or tasted. It can cause headaches, nausea and fainting and can affect the health if an individual is exposed over the long-term.

Those with landlord licences can purchase carbon monoxide detectors for the high-risk areas in their rental properties and will alert the occupant if there is an excessive level of the gas in a home.

Health & Safety News

NAEA News: Government plans to launch estate agent licence 'is good for regulation'

Fri, 19 Nov 2010 15:25:36 +0000

Government plans to bring out a licence for estate agents will help to protect first time buyers and other property purchasers from unethical agents, the National Association of Estate Agents (NAEA) has stated.

Patrick Bullock, chair of the London NAEA, commented that while other professionals, such as nurses, lawyers and taxi drivers, are required to have licences for their work, estate agents are relatively free to operate without regulation.

"There are laws and things we have to comply with, and the Office of Fair Trading can enforce those, but the point is that we are just about the only country where you don't have to show you are qualified to be an estate agent," he explained.

The NAEA's licence will therefore drive more customers to look for licensed estate agents, with the view to using market forces to expand the regulatory system to all estate agent practices.

Housing minister Grant Shapps noted that this is "exactly the sort of measure the housing market needs" and said the licence is designed to deliver results.

NAEA News

London Property News: Landlords 'need protecting from unscrupulous tenants'

Wed, 10 Nov 2010 12:18:29 +0000

Landlords with property to rent in London and elsewhere in the country need to be given greater protection from 'unscrupulous tenants', it has been claimed.

Last week, Landlord Action and the Southern Landlords Association launched a joint initiative calling on the government to do more to protect their members from tenants who refuse to pay their rent and then hide behind the law in order to avoid eviction for as long as possible.

Now, the Residential Landlords Association (RLA) has announced its support for the 'Rebalancing the Law' campaign, which argues for landlords to be given better rights of access to their own properties should rent have been withheld or tenants have been guilty of anti-social behaviour.

The body's chair, Alan Ward, explained: "Under the present system, [the eviction process] can take up to six months and, as a result, landlords with mortgages are losing properties as well as the chance for decent tenants to take their place."

The jointly signed petition is to be delivered to Downing Street within the next few days.

The RLA lists achieving a 'more professional' private renting sector in the UK as one of its main aims, while its manifesto also calls for the establishment of a self-regulatory regime aimed at taking swift and decisive action against rogue landlords.

Residential Landlords News

London property news: Government 'should encourage sustainability'

Fri, 05 Nov 2010 14:36:58 +0000

Green building & construction should be positively encouraged by the government, an expert has argued.

David Green, CEO of HomeSun, an organisation that works to improve access to solar energy systems, said that government plans should push people toward making positive changes.

"People are very concerned about their initial outlay, even though the long-term benefit will be substantial," said Mr Green.

He added that the more government can do to help people overcome concerns about initial costs, the more investment would take place.

Mr Green suggested that it is important for the government to make long-term investments in the development of more energy-efficient properties.

His comments follow an announcement by energy and climate change secretary Chris Huhne confirming the implementation of the Green Deal, designed to lead to improvements in the energy efficiency of properties across the country.

Aside from energy efficiency improvements, the Green Deal is designed to provide up to 100,000 new jobs by 2015.

Building & Construction News

London Property News: Landlords welcome Green Deal

Tue, 02 Nov 2010 16:36:46 +0000

The government's Green Deal for houses could bring some positive landlord and tenant news, the National Landlords Association (NLA) believes.

Chairman of the association David Salusbury suggested that the new deal could provide an opportunity for landlords to improve the energy efficiency of their properties and for tenants to benefit from lower energy bills.

"While we would like to see more detail, the Green Deal should provide landlords with an innovative new avenue to invest in their properties, creating warmer, greener houses while simultaneously improving the fabric of the private rented housing stock," said Mr Salusbury.

He added that the organisation is looking forward to working with the Department for Energy and Climate Change in order to ensure that the Green Deal can work to encourage landlords to make green improvements to their properties and to assist them in making buildings more energy efficient.

The Green Deal, confirmed by energy and climate change secretary Chris Huhne, is designed to make energy efficiency projects available to all people regardless of whether they rent or own a property.

Residential Landlords News

London Property News: Tenants urged to expand their search area

Mon, 06 Sep 2010 12:41:08 +0100

Those looking for property to rent in London have been advised to consider expanding their search area.

According to LettingZone, tenants need to comprehensively research the rental market in their ideal areas and widen the scope of their regions of interest in order to secure the best price.

Mark Garner, director and founder of LettingZone, suggested that prospective tenants could also focus their attention on the edges of their ideal areas because they may find much better deals in those locales.

Mr Garner went on to say that the current situation in the housing market signifies that there will be no real change in the letting market for the next six months at least.

"Looking forward in perhaps in two to three years time, lenders with their balance sheets in a much healthier position may then be charging sensible fees and margins so the market may start approaching a more balanced situation," he commented.

London Property News: New builds scheme hailed as welcome development

Tue, 10 Aug 2010 14:29:02 +0100

An industry figure has welcomed new government plans to increase the number of new builds around the country.

Steve Turner, head of communications at the Home Builders Federation, hailed the announcement of the New Homes Bonus as a welcome development.

The New Homes Bonus was recently announced by housing minister Grant Shapps and is due to be introduced in the Spending Review period. The scheme will reward local authorities for any new residential properties built in their area.

It is hoped that the scheme will increase the number of houses for sale in NW9, across the London and throughout the UK.

Mr Turner stressed that it is imperative for the government to provide councils with the full details of the plans as soon as possible in order to give local authorities enough time to prepare.

"Clearly if it is going to work, we need to see clear proposals from them so that local authorities can seek decisions on house building," he said.