News relating to the private rented sector from both England and Wales, affecting landlords.
NRLA training has added two new courses to its offering this new year, shining a spotlight on renovations and property auctions. The two courses have been devised by Henry Davis MBA a property trader of over 30 years and offer practical advice on both buying properties and getting them ready for tenants.
A new scheme being brought in this spring will ban banks and landlords from chasing tenants for unpaid debts, by offering them a period of time to try to find a solution to their financial problems.
An 'accountability deficit' exists within Rent Smart Wales,
the nation's registration and licensing authority for the private rented sector, according to a report published by the NRLA today.
The eviction ban in England has been extended for six weeks, in a move described as a 'sticking plaster' by landlords. Current restrictions were due to end on Monday. The NRLA says the move will do nothing to support landlords and tenants long term and what is needed is a comprehensive financial package, to allow tenants to continue to pay their rent without building unmanageable debt.
Responding to the Government's announcement of an extension to the ban on the enforcement of most repossessions in the rental housing market in England, Ben Beadle, Chief Executive of the National Residential Landlords Association said:
The Welsh Government have announced that the suspension on eviction enforcement - due to end on 11 January - will be extended to the end of March 2021. The Welsh Government will review this every three weeks.
The National Residential Landlords Association, Big Issue and Ride Out Recession Alliance, Shelter, ARLA Propertymark, the Nationwide Building Society, and StepChange the Debt Charity have issued a statement following the re-introduction of a national lockdown.
With England plunged into a new national lockdown landlords will be relieved to know, for the moment at least, there have been no new announcements that will directly impact the PRS. However a word of warning, there are likely to be further changes in the coming weeks, so be prepared.
Landlords are welcoming news the Government has changed the Green Homes Grant Scheme installer terms and conditions to overcome the challenges landlords and homeowners were facing finding an installer.
More than half of private landlords have lost rental income as a result of the COVID-19 pandemic, according to new research published today. A third of landlords have also indicated that they were now more likely to either leave the market entirely or sell some of their properties.