If people renting a home continue to do so and not move onto the housing ladder at present rates then the UK will see more renting than owning a home by 2039, according to new research.
Claim is made by leading recruiter for industry which says smaller independent estate agents will be hit hardest.
The new Tenant Fees Act will save renters across England £240 million a year as tenancy deposits are capped and landlords and agents are banned from charging unnecessary fees, it is suggested.
But rent activists are concerned that some agents intend to flout new laws
The Tenant Fees Act 2019 (Act) has recently been enacted and is due to come into full force on 1st June 2019. The key provisions of the Act restrict the kinds of payments that landlords and letting agents can require and prohibit certain arrangements in connection with the letting of housing in England.
Wales is the latest country within the UK to enact a ban, leaving just Northern Ireland without plans for similar legislation.
There is a huge sum of money currently tied up in the private rental market across England and this will fall with the introduction of the tenant fee ban on 01 June by almost £3 billion a year, new research suggests.
Rents in England Wales fell by 1% in the 12 months to March 2019 and barely changed month on month, taking the average to £860 per month, the latest index shows.
The British Government has failed to prepare the rental market for Brexit with landlord warning that European Union citizens may face problems securing a home to rent.
Abolishing “no-fault” evictions in England, a move described as the biggest overhaul for renters in a generation, could have a huge impact on rural landlords and agricultural tenants.
Private landlords will no longer be able to evict tenants at short notice without good reason under new plans.
Rents for new tenancies in the UK have begun to rise at a rate not seen in the market for over two years, up 3.3% in the 12 months to March 2019, the latest index shows.
New guidance is being issued to local authorities across England as part of the Government’s plans to reform the private rented sector and crackdown on rogue landlords.
Residential Landlords Association blames lack of clarity over settled status scheme
Advertised rents in the UK fell by 1.25% year on year in the fourth quarter of 2018 but there is considerable variation depending on location, the latest letting agent index shows.
More than half of tenants in the private rented sector in the UK are interested in alternative or insurance backed schemes as a substitute for paying an upfront lump sum deposit when renting, new research has found.
Rents in the UK’s private rented sector increased by 1.1% in the 12 months to February 2019, up from 1.0% in January 2019, official figures show.
On the eve of new rules aimed at making sure that homes to let in the UK are fit to live in, new research suggests that almost half of tenants claims to have been injured or become ill due to the condition of the property they rent.
Rental growth in Britain nearly doubled to 1.1% in February 2019, driven by a 2.4% year on year rise in Greater London rents, according to the latest lettings index.
Plan will address ‘power imbalance’ and insecurity of rentals, says shadow minister
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