Landlords who entered the buy-to-let market five years ago are unlikely to have made any money at all – and could be counting their losses.
Those with buy-to-let mortgages are making losses on their investments, while cash buyers are unlikely to make profits.
The majority of landlords in the private rented sector (PRS) will be freezing their rents this year, according to a new survey.
Members of the Residential Landlords Association (RLA) told the survey that they would be taking a real terms cut to their incomes by freezing rents in 2013 - as a result of tenants facing real term cuts to their wages.
Regulation of the private rented sector (PRS) is one of several measures being called for to help end homelessness in England.
Homeless Link, the umbrella body for homelessness charities, has mapped out steps that it believes need to be taken to prevent and tackle homelessness in the face of service cuts and the Government's forthcoming welfare changes.
A tax specialist has expressed concern that HMRC, armed with information provided by local authorities, could now be hounding private landlords in an attempt to track down tax dodgers.
Mike Down, of accountancy firm Baker Tilly, said he had seen a copy of a ‘stencilled’ letter sent to one landlord client. The landlord in question had been perfectly compliant about declaring his rental income. The information utilised by HMRC had been supplied by a local council in the west country.
A housing association's chief executive has labelled the Government's plans for direct payments to tenants under Universal Credit as "daft".
Matt Cooney, CEO of asra Housing Group, has written to MPs to urge them to pressure the Government into rethinking its plans, claiming that direct payments will be damaging to both social landlords and tenants.
The Office of Fair Trading (OFT) has called for better regulation of lettings agents after identifying several consumer protection issues.
An OFT report which analysed almost 4,000 complaints made by renters and landlords found that both groups were concerned about fees levied by agents, poor service and that "surprise" charges were introduced or "drip-fed" once contracts have been signed.
“The very high housing costs in Camden and across London mean that low-income households will find it increasingly hard to find affordable accommodation if they are not in social housing.
“Sadly however, the scale of the cuts, high private rental costs and lack of available housing in Camden will mean that more people will soon have to consider moving from the borough and in some cases London entirely.”
Labour’s Stephen Timms, speaking on Radio 4 yesterday, criticised the controversial policy, under which benefit claimants in social housing of working age with spare rooms will have their benefit cut from 1 April.
Mr Timms said: ‘We have argued for the last two years that it would be fine to apply the penalty where people have refused to take smaller accommodation, but to penalise people when there’s nowhere smaller to move to is perverse.’
A London council is considering shipping tenants that'll be hit by the coming benefit cuts as far away as Leicester and Birmingham.
Camden Council's Tory leader, Andrew Mennear, has backed the plan, saying that "London's not everything. There is a life outside of London".
A flagship Conservative council is housing families in hotels costing more than £1,000 a week because it cannot find alternative accommodation.
Figures released by Westminster Council show it has used six hotels where a room for a week costs more than £1,000, with the most expensive, the Royal Eagle Hotel, costing £1,540.