Maintaining maximum trust ensures landlords enjoy consistent long-term returns despite increased prescriptive legislation
- 18th August 2018
- Landlord Property News
25 years of increasing regulations - but the rental sector remains strong as landlords embrace change
Since ludlowthompson began back in August 1993, the private rental sector has faced a multitude of legislative changes which landlords have had to familiarise themselves with. Quite a few of these changes have come in over the past five years alone.
Several new proposals and pieces of legislation from the Government are putting the sector increasingly under the microscope. These include, for example:
- Buy-to-let tax changes, including the 3% stamp duty premium levied on investment property;
- Putting the emphasis on landlords to pay for the ‘Right to Rent’ checks;
- Government proposals for the introduction of a minimum 3-year tenancy, with a 6-month break clause
Looking ahead the private rental industry is likely to be more regulated by the Government in the coming years, and ludlowthompson embraces this if it replaces the current patchwork of licencing by local authorities.
It is important to note that many of the Government’s recent proposals have been targeting smaller buy-to-let investors, which risks reducing the availability of homes to rent and rising rental prices. This seems to go against the Government’s intent of keeping the price of rents down.
In an industry built largely on professional knowledge, personal relationships and customer care, it’s very important - ludlowthompson is a member of all the regulatory bodies including ARLA and NAEA Propertymark, NFOPP and TPOS. Our landlords know through trusted advice that offering good-quality rental properties that exceed expected standards will enable them to enjoy higher total returns over the long term. Indeed, ludlowthompson's research shows that our long term landlords have enjoyed total returns of 9.9% per annum since the millennium.
Stephen Ludlow, chairman of ludlowthompson, says: “For the private rental sector, professionalism is vital – this is something we have always prioritised. Legislation that reinforces the high standards we already work to will help ensure landlords continue to achieve consistently, high long-term returns.”
“Given that renting is essential for labour mobility and, thereforetherefore economic growth, more carefully considered policy-making is crucial.”
“Regarding three-year tenancies, for example, we already recognise the demand for them as our average letting time currently stands at 29 months. However, there will need to be a mechanism for shorter tenancies to be available if both tenants and landlords want one. Shorter -term tenancies, 12-18, months are necessary to keep ‘discretionary landlords’ – those renting a property out if they are not able to sell at the price they want – on the market, as this facility has stabilised the property market generally in times of economic correction."
“A lot of the recent Government proposals targeting smaller buy-to-let investors risk reducing the availability of homes to rent and putting up prices and surely that is not what is intended?"
Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
“Daniel and crew did a great job letting my flat in Southwark, very nice to deal with.”
- Stephen Carroll on Google Reviews
“Daniela Gomes let out our property very quickly and we received great service throughout the process. Would highly recommend her and her office.”
- Kavi Raja on Google Reviews
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three year period we are ranked as the number 1 agent in the UK on allAgents out of 15,000+ agents, with 5800+ 5* reviews, and we are linked with feefo, a global Google Partner giving the customer another place to search for independent reviews of the company and the individuals that work at ludlowthompson.
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