While rent prices have been increasing across the UK, Liverpool and Nottingham have seen a drop in prices. In the past three months rental prices in Liverpool and Nottingham have dropped by 2%, compared with a 4% increase on average for the country as a whole.

The slump in rental prices is good news for some, such as the 50,000 strong university population at Liverpool’s three universities, who will be clamoring for cheap rental properties. However, for landlords and investors looking to re-mortgage, the fall in prices is disastrous.

The buy to let market in Liverpool boomed in previous years, with many amateur landlords jumping on the bandwagon, leading to an oversupply of rental accommodation which has prompted the drop in prices.

The buy to let market has now dropped off, with property and rental prices down, it is not such an attractive option. With less mortgage deals available, many are finding that they cannot secure a buy to let deal even at specialist brokers.

Investors who took part in investment clubs where properties were sold off plan with guaranteed rental incomes are finding that these guaranteed rental prices are now unrealistic and face trouble ahead.

On a brighter note, Hometrack, the housing intelligence firm which released the figures says that rental income should increase for the majority of investors over the next year.

 

As the date of April 7th, 2008 draws nearer, private landlords are anticipating increased rent collection problems as a result in the pending Housing Benefit changes that commence on this date. The changes to the Housing Benefit payment system will mean that new Housing Benefit claimants will have their rent payments deposited directly to them selves and not to their landlord as id mostly the case now. Rent collection issues are likely to cause problems for many landlords as a result.

Law firm, R. James Hutcheon Solicitors have launched an 'Information Request' to private landlords that believe they have been charged disproportionate and unreasonable fees in respect of tenants renewing tenancy agreements with landlords. This practice has already been denounced by the National Landlords Association (NLA) and BBC Watchdog who have called for tenancy renewal fees to be scrapped.

Hutcheons Solicitors are asking private landlords to contact them if they feel they have been unfairly charged by a letting agency with respect to tenancy renewal terms in contracts.

An investigation into 'dodgy' landlords and letting agencies is being considered by Housing Minister Yvette Cooper following numerous complaints from tenants in the UK. Unfair rent collection practices and repair standards are the main drivers behind the campaign.

Many private landlords dread the day when they have to take formal action against a tenant that has significant rent arrears or has breached other parts of the tenancy agreement. The process of issuing Section 8 and Section 21 notifications and ultimately the small claims court is not enjoyable but sometimes very necessary in order to deal with a problem tenant correctly.

Private student landlords in the St Andrews area of Scotland are to be named and shamed by St Andrews Student Union it has been announced.

The students union asked student tenants to provide feedback about local private landlords and letting agents and subsequently revealed the names of the better performing landlords and letting agents. However St Andrews Student Union has now written to the poorest performing operators to inform them that in next years survey those private landlords and letting agents that have received a consistent negative amount of feedback from local students will be publicly named and shamed. The students group hopes that this act will serve to improve the property standards in the area.