What does 2015 have in store for Landlords?
Thu 19 Feb 2015
As we move further into 2015 and closer to a General Election in May what can today's landlord expect from the Lettings market in 2015?
The Lettings market was very much in the political spotlight towards the end of 2014 and that looks set to continue in 2015. More, not less regulation is likely.
The Immigration Act introduced a requirement for Landlords to conduct checks to ensure that new tenants have the right to rent in the UK. This is due to become compulsory in the first half of 2015. The issue of Retaliatory evictions is currently being debated in Parliament and could become law later this year. This would prevent a landlord serving a section 21 notice in certain situations in response to a tenant asking for repairs to be carried out to the property.
If Labour win the General Election then they are likely to introduce an outright ban on all tenant fees, introduce a National Register of Landlords and create longer tenancies.
The rental market is predicted to remain very healthy and rental demand for property will continue to be high. Recent figures suggest that rents will continue to rise as more and more people look to rent. With interest rates predicted to be held until 2016 and house prices rising, buy to let is currently the strongest performing sector of the mortgage market and this looks set to continue as pension changes in April will allow access to more funds for property investors.
In summary, more changes are likely over the coming months and it is even more important to consider the advantages of using an accredited Letting Agent with specialist knowledge and experience.
January 2015View older stories >
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