Search Results for: hmo
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Regulation & Law
Speeding up evictions
The eviction process is lengthy, costly and an absolute pain, says Andrea Kirkby.
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Features
Setting the stage
Andrea Kirkby discovers that ‘home staging’ really helps to sell property.
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Housing Market
Rental yields fall
Average rental yields on buy-to-let properties fell in the second quarter of this year, the latest buy-to-let index compiled by Mortgages for Business shows. Returns on residential rental properties fell from 6.4 per cent to 5.8 per cent between the first and second quarters of 2015, led by declines in the Houses in Multiple Occupation (HMOs) sector which saw yields drop 1.3 per cent to 9.3 per cent. The figures also reveal that the average loan-to-value (LTV) ratio in the second quarter of 2015 for standard buy-to-let and multi-unit freehold blocks remained unchanged at 66 per cent and 67 percent in relation to the first quarter of this year. David Whittaker (left), Managing Director of Mortgages for Business, said, “While rental yields are still robust they seem to have lost the momentum they were gathering between the end of last year and the start of this one.” But Whittaker pointed out that multi-unit freehold blocks seem to have avoided the yield downturn, demonstrating once again that complex property types produce higher yields “because they offer tenants more features and facilities”. He added, “While many landlords had hoped that the improving economic climate may have pushed loan-to-value ratios even higher, the…
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Features
Playing the buy-to-let game
Andrea Kirkby says investors can win the buy-to-let game, if they hit the right location, at the right price, at the right time.
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Housing Market
PRS set to soar
The private rented sector (PRS) is expected to increase by 700,000 households to 5.5 million by 2020, accounting for one-fifth of the total housing stock in this country, according to a new report. A fresh study on the buy-to-let sector by Kent Reliance finds that the PRS now accounts for 18 per cent of all housing stock, after almost 150,000 new households were added to the PRS in the year to March. A higher number of buy-to-let investors entering the market coupled with capital growth have led to an average rise of 11 per cent in the total value of PRS property, or £97.8 billion, to £990.7 billion, with gains led by London, at £406.5 billion, followed by the South East at £147.6 billion. Andy Golding, Chief executive, Kent Reliance, said, “Buy-to-let has come of age, moving from a niche asset class to one big enough to rival the stock market. Landlords are seeing the benefit of a structural change in Britain’s housing market, with tenant demand ever strengthening. Yes, house prices are showing signs of steadying somewhat, but growth remains brisk.” If recent growth continues, the whole sector is set to be worth in excess of £1 trillion by…
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Housing Market
Post-Election housing market activity set to improve
House hunters faced with restricted choice could soon find that they have significantly more homes to choose from as the result of a post-Election surge in homes for sale, according to Righmove. The property portal is forecasting a sharp rise in the volume of residential properties set to come onto the market in the coming weeks, now that the Election uncertainty is over. In the three months after the May 2010 Election, the number of properties coming to market rose by 17 per cent compared to the previous three-month period, Rightmove said. “This is an election-driven price stall which gives some buyers only short-term relief from the back-drop of a long-term housing shortage, and many estate agents are now reporting a resurgence in interest following the surprise election result,” said Miles Shipside (left), Rightmove Director and Housing Market Analyst. He pointed out that the threat of Labour’s proposed mansion tax on homes valued at £2million-plus had “put a brake on the market”, but believes that “their removal gives a reason for a rebound in activity and prices.” Mr Shipside added, “Buyers should note that there is often a surge of property supply after an Election, as those who have held…
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Agencies & People
Lettings – it’s all about risk and reward
Are you doing everything possible to support your landlords?
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Software
PropCo PropCo Software, which incorporates a range of leading features for letting, client accounting and property management, aims to reduce admin and stationary costs through eSignatures, secure online portals for landlords to access their property records and documentation, produce bespoke reports from rich data stored in client’s PropCo databases. What’s more, the software’s Core’s Client Accounting functionality is compliant with RICS NFOPP ARLA regulations and Bylaws, while there is a wide range of documents available, including tenancy agreements and legal notices. www.propco.co.uk Reapit Reapit provides a fully integrated ICAEW and NALS accredited RPS software solution across lettings, property management, client accounts and sales, o ffering a number of unique selling points, including its new Landlord Tracker; an online login area accessed through the agent’s website that allows landlords to view key information about their property or portfolio 24/7. This includes scheduled works orders, key documentation and accounts information. www.reapit.com Rentman Rentman letting, management and accounting PC and cloud-based software provides a wide selection of features. These include rent collection, management and let-only statements, record contractor details, monitor and track maintenance jobs, prompt agents to arrange or renew safety certifi cates, HMO licences and insurance premiums, instantly create and send job sheets. The software can also help landlords with their tax returns, issue legal notices, produce legally compliant AST agreements, instantly match applicants to properties, issue property details, track to let boards,…
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Features
Regulation strangulation
Will regulation be the death of us? Adam Walker fears that increasing regulation is driving property businesses to closure.
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Latest property news
New OnTheMarket website gets thumbs up
The new OnTheMarket.com website, which requires their member agents to stop advertising on either Rightmove or Zoopla, finally launched last week. But what do property professionals actually think of the new website, including its look, usability and layout? “The website looks simple and effective and I’m looking forward to it becoming the first stop for all landlords and tenants,” said Steve Cook, Lettings Manager, Henry & James. James Bailey (left), also of Henry & James, has found the website “easy to use”, and believes that OnTheMarket’s red white and blue pointer “will become memorable in a short space of time.” Also finding the new website to be “very clear and user friendly”, Carol Peett, Managing Director, West Wales Property Finders, commented: “It’s format is far cleaner and quicker to load than Zoopla and the layout makes searching for suitable properties easier and quicker than either Zoopla or Righmove. I think it will be a great success as, once agents who have not yet subscribed realise its advantages, more and more will join.” OnTheMarket was deemed to be “thoroughly British” by James Wyatt, Partner of Barton Wyatt thanks to its “great colours.” “The site is incredibly quick and very easy to…
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