Inventory screenshot for new PM3S

Just to keep you updated on the new version of our free property management software, here's a screenshot on the preparing a property inventory screen we're currently working on.

The excitement ... I know it's all getting too much …

Londons surge in property price since 2008

The office has released June's property data.

The ONS reflect on recent property price rises, as a result of rising employment, better availability of mortgage finance, pent ip demand and a return of market confidence. 

 

London's growth is put down to an 'increase in the level of foreign demand'.

That about sums it up.

Here's their chart on relative change since Q1 2008. It shows just how well London has done in comparison with the rest of the UK.

Read the full ONS data for June 2014.

Leicester landlord fined £35,000

Landlord, Harishbhai Rambhai Patel has been fined nearly £35,000 after failing to obtain the required licence for three Houses in Multiple Occupation he owns in the city.

The landlord pleaded guilty to 12 offences under the Housing Act 2004. Patel was fined £10,000 for each property, £500 for failing to produce required documentation, £4,000 for breaching the Management of Houses in Multiple Occupation (England) Regulations 2006, legal costs of  £4,124.15 , and a £120 victim surcharge.

The total bill amounted to £38,744.15.

Environmental health officers reported that the rental properties did not meet fire safety standards, had a faulty fire detection system, damaged fire doors, torn carpets, cracked plaster and broken windows.

Councillor Sarah Russell said: "Proper licensing for HMOs is there to ensure the safety of residents and landlords who fail to do so are putting tenants at risk."

Landlord shares portfolio building story

A landlord shares her tips in the Telegraph on building a profitable rental portfolio of Houses in Multiple Occupation that she rents out to professional shares in the South West.

Worth a read.


 

Top ten UK rental yields

Southampton remains the top yielding area for BTL investment. Relatively cheap property prices in the city and strong rental demand keep it ahead of the pack according to HSBC latest rental yield data.
Reading and Brighton have seen the fastest growth in rental yields, with them growing by 12.8% and 12.6% respectively over the last 12 months. Rental yields in Reading are now 5.48% compared to 4.86% last year.

Top ten UK yields | Create Infographics

Paragon reports returning confidence

A Paragon Mortgages survey reports BTL mortgage intermediaries are increasingly confident about the BTL lending market.

Paragons confidence index has been running since 1995. The quarterly survey of mortgage intermediaries tracks their perception of the market.

The first quarter survey of 2014 reported confidence was at its highest level since the beginning of 2008 at 104.7.

Confidence peaked in 2007 at 147.6 and dropped to its lowest level in the third quarter of 2010 at 63.0.

John Heron, Director of Mortgages, said: “Thanks to this unique long-running survey we can see very clearly how confidence was “knocked for six” during the financial crisis. It stayed depressed through to 2011 when things started to improve. We are now seeing a significant improvement in confidence as the market recovers and it will be interesting to see if this is maintained through the implementation of MMR.”