Students at Oxford Brookes University are being asked to rate their landlords. Results of the questionnaire will be compiled into a comprehensive landlords database and passed on to Oxford City Council.

“There are varying standards of landlords across the city and we are hoping we can put pressure on the council to sort this out,” says Andy Pederson, President of the Students’ Union.

“You will find a similarly poor standard of housing in other cities, but when you look at the price of housing in Oxford you will be paying more for less here.”

Bi-Annual Student Survey
University students will be given two questionnaires to fill in: one at Christmas and the second at the end of the academic year. Mr Pederson wants students to be more aware of their rights to good quality housing, so by encouraging them to get involved with the Rate My Landlord campaign, it is hoped that problems in the city’s student housing can be rectified. He says the Rate My Landlord scheme will put pressure on the local council to sort out any problems that are highlighted – and if there are none, they will congratulate the council on a job well done.

NLA Interested in Campaign
The National Landlords Association is following the campaign closely:

“The National Landlords Association is interested to see the findings of Oxford Brookes’ private housing survey as we believe that no one should have to put up with sub-standard accommodation or suffer unsafe living conditions,” says local policy officer, Gavin Dick.

The National Landlords Association (NLA) has warned Croydon Council that their plans
to extend the current landlord licensing scheme to include all landlords will deter
landlord investment in the area and force existing landlords to raise rents in order
to cover rising costs.

Increased Landlord Costs
The current landlord licensing scheme in Croydon only applies to landlords with Houses
of Multiple Occupation (HMOs), but the council has begun to consult on new proposals
that will extend the scheme to all homes in the private rental sector. If the scheme
goes ahead, landlords will face increased costs of up to £1,000 per property, which
they will have to pass on to their tenants. The proposal will also force landlords to
take responsibility for managing anti-social behaviour and monitoring visitors to
their properties.

The NLA, along with local MP, Gavin Barwell, are strongly opposed to the scheme and
are urging landlords and tenants to attend a meeting on 25 September to discuss the
matter. Croydon Council representatives have also been invited to attend.

Landlord Stealth Tax
“It doesn’t take a genius to work out what will happen if this scheme goes ahead –
landlords will simply pass the additional cost on to their tenants. It is a classic
Labour stealth tax that is predicted to raise over £4.5 million for the council,
lifted straight from the pockets of hardworking residents. Introducing a stealth tax,
which will lead to some of the most vulnerable people in society facing even higher
rents, is beneath contempt,” says Gavin Barwell.

Landlords come in all shapes and sizes: some good, some mediocre, and a few terrible ones. Life as a tenant is not always a bed of roses, especially if you have to deal with a landlord in no rush to fix a faulty boiler or call in a pest control company, but things could soon be very different.

Corporate Renting Comes to the UK
According to an article in the BBC, corporate renting is about to come to the UK. If it takes off, corporate renting could change the landscape of the UK rental market forever. So what is corporate renting?

Corporate landlords are companies not people. It is common in the US, but not here. However, one UK company is preparing to offer as many as 5,000 corporate rental flats in London. The flats are described as ‘up market’ and have been carefully designed to encourage tenants to stay for as long as possible. Costs will be kept down – the company will even change light bulbs to reduce tenant breakages.

On the face of it there are many advantages for tenants. After all, the landlord isn’t likely to put the property on the market and there are no letting agents charging hefty fees. Tenants will also get problems sorted quickly.

However, critics say most of the flats will be far too expensive for ordinary tenants on ordinary wages. The company behind the scheme disagrees: they argue that their properties will be marketed at middle earners rather than wealthy tenants.

Will the Idea Take Off?
Unless hundreds of other companies jump on the bandwagon, probably not, but if the scheme proves to be successful, investors may decide to dip a toe in the corporate rental market.

A recent report published by the Chartered Institute of Housing in conjunction
with the Resolution Foundation is calling for letting agents to stop charging
tenants fees. The report argues, amongst other things, that if fees are
eradicated, the private rental sector will improve. They also suggest that the
government should offer landlords tax breaks if they make an effort to improve
the quality of their accommodation.

Chartered Institute of Housing Recommendations
The main recommendations of the report by the Chartered Institute of Housing
include:

• creation of a set of minimum standards covering management and standards of rental property;
• extend regulation of letting agents and estate agents to prevent them from charging tenants fees;
• offer landlords tax incentives for housing improvements; and
• development of a set of accreditation standards for rental properties

“With more and more people living in the private rented sector – including more
older people, more families with children and more vulnerable people from the
housing waiting list – it’s vital that we look at new ways to raise standards,”
says CIH CEO Grainia Long. “The cost of housing means that for many people,
the private rented sector is the only option, but too many of them are having
to put up with poor standards and insecurity.”

The Chartered Institute of Housing says the rental sector has doubled in size
in the last twenty years – it now accounts for 18% of housing in the UK.
Unfortunately many rental properties fail to meet modern standards and are long
overdue improvements.

There has been much discussion of late concerning the cost of renting a property in London. Although rental prices have risen in many parts of the UK, which is a reflection of the demand for rental homes, rental costs in London are far higher than anywhere else. In London, demand outstrips supply. As a consequence even tiny studio flats barely large enough to house a hamster are £700 per month. But by any standards, the next property is a little bit more than just ‘expensive’.

Exclusive Knightsbridge Penthouse
A six-bedroom penthouse apartment in exclusive Knightsbridge, overlooking Hyde Park, is available for short term and long term lets at a staggering £260k per month. Although if you need a roof over your head for a longer period of time, say for a year, then the cost of renting this apartment drops to a far more reasonable £25k per week.

Lifestyles of the Rich and Famous
The property is perfect for A List celebrities, Qatari billionaires, Russian oligarchs and visiting royalty. It has a beautiful bespoke designed interior, five bedrooms, five bathrooms, a library, a screening room, a gym, a massage room, several large terraces, and two reception rooms. You can even enjoy his ‘n’ hers bathrooms as part of the extensive master suite.

Nearby amenities include Harrods – you could even order in your groceries instead of mixing with the riff-raff in Harrods Food Hall – the West End, and of course Hyde Park should you wish to enjoy a spot of fresh air.

Student accommodation pods have been heavily marketed in recent years as the ideal way to take an initial step on to the property investment ladder. The deals often sound very attractive and many amateur landlords are seduced by the idea of a guaranteed rental income with none of the hassle involved in managing a buy to let property. Many are sold as a ten-year investment with guaranteed rental yields, but are these deals really too good to be true?

Reasons to Invest in Student Pods
One of the main selling points of student pods is that instead of having to deal with irksome student tenants, landlords can buy a property and then hand over the day-to-day management to an agent while the money comes rolling in. Student pods are also sold as investments with great capital growth potential.

Disadvantages of Student Pod Investment
There are some considerable downsides to investing in student pods and investment specialists are warning landlords to take predictions of capital potential and income with a large pinch of salt.

Landlords Beware
Student pods cannot be bought with a buy to let mortgage and developers eager to sell often overstate rent predictions. There is also a large question mark over capital appreciation since student pods are typically leasehold and therefore their value will depreciate over time. In fact student pods are very highly priced when compared to other residential properties and have no re-sale value, so landlords need to consider whether such an investment is right for their needs before they hand over cash to a persuasive developer.

Joint research carried out by Endsleigh Insurance and Trustmark has revealed that a surprisingly high percentage of UK landlords do not consider their lettings business a commercial enterprise – which could go some way towards explaining why so many of them have yet to file a tax return declaring their rental income to HMRC!

Accidental Landlords Booming in the UK
The study found that nearly 85% of the 1500 landlords currently operating in the UK are ‘accidental’ landlords. Many end up letting a property out because they can’t sell. Others start letting a property because they have moved in with a partner, moved abroad, or relocated with work and would like to keep a base to come back to at some point. Only 17% of landlords questioned say they began a buy to let venture with the express aim of making money. Of these, 15% bought a buy to let property as an investment for another family member.

Beware the Risks of becoming an Accidental Landlord
Becoming an accidental landlord is, however, not a risk-free venture. If the property is financed with a mortgage, it is very important that you tell your lender you are letting it to tenants. Although being upfront about it could mean you are switched to a higher interest rate loan, if your lender finds out you have breached your loan contract, they could demand you pay the outstanding balance in full. Don’t assume the lender will never find out – many are checking online to make sure borrowers are actually living at the property. Letting a home without the permission of the mortgage lender will also invalidate your insurance policy.

Green Deal funding has only been available for six weeks, but already the sums on offer to landlords and private home owners has already been slashed by the government. At the start of the scheme, people could apply for a maximum of £7,600 towards energy saving measures. However, despite the fact that the take-up was extremely high – £50 million of vouchers was claimed in the first few weeks – the Department of Energy & Climate (DECC) has reduced the amount of money households can claim.

NLA Critical of Government Funding Slashed
“Just as the Green Deal looks like it will finally succeed, the Government seems determined to sabotage its own policy,” says the National Landlords Association.

Solid wall insulation offers the biggest incentives. Solid wall insulation is mostly found in older properties, and with the biggest number of properties containing solid wall insulation in the private rental sector, landlords are going to lose out with the reduction of Green Deal funding.

Solid Wall Insulation in the Private Sector
“Lowering the incentive for solid wall insulation to £4000 will increase the contribution that the landlord will have to make, and inevitably push more projects beyond the capacity or willingness of the landlord to fund them as a result. As the greatest proportion of solid wall properties are in the private rented sector this move therefore risks exempting a significant proportion of homes from meeting the energy efficiency targets set by DECC.”

The NLA is advising all landlords with a draft Green Deal plan “to act immediately”. You have until the end of July 24th to claim your cash back.

Despite the fact there are believed to be an estimated 1.4 million landlords in
the UK at the current time, only 500,000 have contacted HM Revenue & Customs to
register their income. Many of the landlords own second homes or holiday homes,
which they let out to generate some extra income, but this doesn’t excuse them
from paying tax on their profits.

HMRC Targeting UK Landlords
UK accountancy firms are warning landlords that HMRC is targeting them. The
government is concerned about the estimated £550 million in unpaid tax and is
trying to do everything in its powers to recoup the money. Landlords who have
failed to register with HMRC face being investigated and fined if it is found
that they have unpaid tax.

Many buy to let properties have been bought in the recent property boom and
although first time buyers are finding it hard to secure funds, older buyers and
those with a large deposit have had very little problem. Landlords purchasing a
property with a buy-to-let mortgage only have to provide a decent deposit and
show that they can afford the repayments based on the estimated rental income of
the property.

Bank of England to Look at Buy To Let Lending
However, the Council of Mortgage Lenders is warning that landlord mortgages
could soon be coming under the scrutiny of the Bank of England. There are also
tough new EU rules coming into effect soon, which will also affect buy-to-let
lending, so landlords may soon find it a lot harder to secure funding.

According to the National Landlords Association (NLA) there are three types of landlord: professional, amateur and accidental. Amateur landlords run their property portfolio part-time, typically using this extra income to supplement their main job. However, research carried out by the NLA has revealed that there are now more amateur landlords in the UK than ever before.

What is the Profile of a Part Time Landlord?
A typical part-time landlord has four properties and enjoys an annual gross income of £31k, of which a quarter is spent on maintaining his properties. More than 40% of amateur landlords have bought their properties using buy to let mortgages and most of them say that it is now easier than ever to secure finance.

Boosting the UK Private Rented Sector
An army of private buy to let landlords currently boosts the UK housing market to the tune of £20 billion and thanks to historically low interest rates many more are likely to be jumping on the bandwagon soon. Indeed, buy to let investment is viewed as a good way of supplementing a pension and/or saving for the future, but despite the apparent buoyancy in the buy to let market amongst amateur landlords, the NLA has a few words of warning to impart:

Being a landlord can be very rewarding but it’s vital that anyone considering a move in to buy-to-let, or indeed looking to expand their portfolio, is thoroughly researched and aware of what it involves. A part-time landlord typically has a day job so it can be a very challenging task to keep on top of managing and maintaining homes for people whilst juggling the demands of daily life.”