tax relief
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Features
What’s next for buy-to-let?
"After an exciting and long ride, buy-to-let is now under attack from higher taxes, posher, new student homes and build-to-rent. So what’s next for buy-to-let?"
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Latest property news
Half of tenant subletting occurs without consent
Landlords and managing agents should regularly check their rental properties to ensure that their tenants are not subletting without consent after new research found that almost half of tenants who sublet their property do so without their landlord’s permission. The findings from the NLA found that of the 11 per cent of tenants who say they have sublet all or part of their property before, just 5 per cent did so with their landlord’s authorisation. The NLA is now urging all landlords to insert a clause into new tenancy agreements that makes clear sub-letting is only permitted with the landlord’s consent, which should not be unreasonably withheld. “This would reduce their exposure to a whole host of unnecessary risks, including hefty fines and even a prison sentence,” said Carolyn Uphill (left), Chairman of the NLA. Some 26 per cent of tenants say they have approached their landlord about sub-letting but have had the request declined, and 63 per cent say they have never asked their landlord about subletting their property. Overall, the findings show that 32 per cent of tenants have approached their landlord about sub-letting their property, with 22 per cent of requests being permitted by the landlord. “These…
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Housing Market
Labour plans for PRS would be disastrous – NLA
Labour’s plans to cap rents, ban letting agent fees, and restrict tax reliefs for landlords who do not keep properties to basic standards could have an adverse impact on the private rented sector (PRS), according to Richard Lambert, Chief Executive Officer at the National Landlords Association (NLA). While acknowledging that Labour has tenants’ “concerns at heart”, Lambert points out that the policy will almost certainly backfire because “they don’t understand the economics of supplying private housing to rent”. The NLA’s CEO (left) insists that these changes “will have far-reaching consequences for the PRS”, and could deter many people from investing in the buy-to-let market which in turn would reduce the supply of housing stock in the PRS. He commented, “If these proposals are going to be rushed into the first Queen’s Speech, less than a month away, without time to think through the consequences, Labour’s good intentions could make the housing crisis worse, not better.” NLA research has found that around two-thirds of landlords do not increase rents during a tenancy. Lambert continued, “Capping annual price rises to inflation sounds like a great consumer protection initiative, but wherever these formulas have been introduced, it’s proved to be counterproductive because it…
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