Industry news
Wales: Housing Minister backs NRLA tax calls
The Welsh Minister for Climate Change, Julie James MS, has supported the need to review the way the private rented sector is taxed. Speaking at an event to launch the National Residential Landlords Association’s (NRLA) State of the Welsh Private Rented Sector report, the Minister said she would welcome ideas about how to ensure the tax system supports the provision of long-term homes to rent.
Landlords’ profits hit 16-year low
Landlords’ profits have hit the lowest rate since 2007 according to new research, with fears many could quit the sector for good. Average net profits for investors in the PRS dropped below 4% in the first quarter of this year, according to a report by property agent Savills, and are now at their lowest since 2007.
Renters (Reform) Bill: Watch our webinars on demand
The Renters (Reform) Bill was published a month ago, setting out the Government's plans to fundamentally reform the private rented sector (PRS) in England. Following the publication of the Bill, the NRLA continues to campaign in these early stages of the Bill’s progression, on behalf of members.
High-risk evictions paused over safety concerns
The NRLA has received correspondence from HM Courts and Tribunals Service informing us that certain types of high-risk bailiff evictions are to be temporarily paused in some regions.
Wales update: what landlords need to know this week
Earlier this week, the Welsh Government opened a consultation on introducing rent controls in Wales. NRLA Head of Policy, James Wood, discusses this and the latest requirements around converted contracts here.
Supply and demand gap widens in private rented sector
Government considering possession ground for student lets
A possession ground allowing student landlords to take back their properties at the end of an academic year could be in the pipeline. Housing Minister Rachel Maclean MP has confirmed the Government is considering developing a ground that would guarantee vacant possession to let to students at the start of each academic year, following a campaign by the NRLA.
Rent control proposals would be a disaster for Welsh renters
Following the Welsh Government's publication of its Green Paper on fair rents and adequate housing in the Welsh private rented sector, the NRLA calls on all those who have an interest in the future of the market to make their views known.
Time to sell up or carry on letting your property?
Interest rates, over-regulation, tax changes and cost of living have been blamed for a growing number of landlords selling their rental properties. But is there a strong case for carrying on with letting? How can renting become easier and more cost-effective for those landlords with a long-term view? NRLA partner Inventory Hive take a look.
In pictures: First Wales NRLA on Tour event a success
More than one hundred landlords attended the inaugural NRLA on Tour event in Wales, which took place at Cardiff City Stadium this month. NRLA South Wales representative Gill Owens and Operations Manager Steven Bletsoe hosted as an impressive line-up of speakers, including Welsh Government Minister Julie James MS, who presented on pressing matters concerning the private rented sector.
