Tag Archives: Repairs

Landlords say they will not be increasing rents

The vast majority of landlords in the UK say they have no plans to increase rents over the next six months, according to a survey. The HomeLet Rental Index has revealed that 91% of landlords will not be charging their tenants more to rent their home. However, 34% of landlords said they would increase rents within the next year. The chief executive of Barbon Insurance which owns HomeLet, Martin Totty, said: “Our landlord clients tell us they would prefer to retain tenants for a long period rather than receive extra income. This attrition of tenants is not something that landlords want.” Rents on new tenancies being charged has fallen   The index has also revealed that 10 out of the 12 regions they analyse, the rents on new tenancies being charged has fallen slightly or remained static in the third quarter of 2015. Excluding new tenancies in London, landlords around the UK saw average new rents of £743 a month, that’s a 0.7% fall on the previous quarter. Landlords in Greater London saw the average rent falling 1% to £1,544. However, landlords in the East Midlands saw rents rise by 1.2% to £635 while landlords in Yorkshire and Humberside saw […]

Property damage affects “400,000 landlords”

According to the National Landlord’s Association (NLA), around 400,000 landlords have had tenants damage their property in the last year. That’s around 29% of all UK landlords and, the NLA claims, around 120,000 landlords or 8% have had to make an insurance claim as a result. This means that the average landlord is now spending around 5% of their rental property income on premiums for landlord insurance. The survey also reveals that 49% of landlords have not spent any money on such insurance premiums and 46% say they spend up to 10% on premiums. Around 4% of landlords are spending more than 10% of their rental income on premiums. Insurance premium tax for landlords is rising   The survey follows the announcement in the recent budget when the Chancellor revealed that insurance premium tax is rising from 6% to 9.5%. This new increase should generate around £1.75 billion for the government. Carolyn Uphill, the NLA’s chairman, is urging landlords to insure against the unexpected and to cover all possible eventualities. She added: “We hear from landlords who suffer for failing to check their tenants properly before granting a tenancy. “It’s a hard way of finding out that a basic home […]

London landlords spend £5,000 a year on repairs

Maintenance is the biggest buy to let expense for landlords – with a quarter spending more than £5,000 a year on repairs on central London homes.

Hundreds of Buy to Lets Unsafe To Live In

Nearly 600 homes were upgraded last year after complaints about poor standards from tenants to Westminster City Council.

Unexpected bills pile up for landlords

Unexpected expenses cost the average buy to let landlord £1,500 in unplanned business costs, according to a new study.