For landlords in student-dominated towns all over the country, that means the traditional yearly changeover, with a new intake of student tenants that have been let loose from mum and dad and are living alone for the first time. How can landlords make sure their properties are prepare for the influx of students, and what steps can they take to ensure a successful tenancy all-round?
Landlords to Help Crackdown on Illegal Immigration
Landlords will be given the right to end tenancies without having to worry about obtaining a court order, but only when a tenant has lost the right to live in the UK. Landlords also face having to check a migrant’s status before they agree to a lease – those who don’t, or those who knowingly let properties to illegal immigrants, could face up to five years in prison.
Landlord Licenses Cause Chaos Around the Country
As the UK government tries to tackle problems within the private housing sector, many councils are considering putting landlord licensing into place, or have already done so. Powers have been devolved to local authorities, which means as it stands there are different rules for landlords depending on where in the UK they let properties – causing chaos for private landlords across the country.
Buy To Let Landlords Enjoy Lucrative Year
British buy to let landlords have had one of the most lucrative years to date, with recent equity gains allowing them to negotiate better mortgage deals. In fact, according to the latest statistics from the Mortgage Advice Bureau’s Mortgage Search Tracker buy-to-let deposits have increased by 15% over the past 12 months. This bought the national average up to £100,000. The results are better deals for buy-to-let landlords, increased income and the opportunity to expand portfolios.