During the first six months of 2018 our City and East London branches have performed extremely well, thanks to high rental demand matched by good supplies of sensibly-priced properties, says Mark Wellington, Area Mananger, Benham & Reeves Residential Lettings.
Our Highgate branch is very bust, both concluding tenancies for landlords and tenants and taking on new instructions, says Ivan Hrissimov, Branch Manager, Benham & Reeves Residential Lettings, Highgate Branch.
The phasing out of tax relief for interest at higher rates of income tax entered its second phase on April 6th 2018. Previously landlords who were higher-rate of tax - 40% or 45%. They could offset the interest on their mortgage/loan repayments against the income they received from rent before paying tax.
The residential lettings market in London is fairly neutral with many postcodes showing little or no rental increases, according to the latest analysis.
One of London’s leading letting agencies says in the current neutral rental market, buy to let owners must work hard to protect their investments. Benham & Reeves Residential Lettings says the market in the capital is neutral - there has been an increase in the number of tenants but with no rent increases in places like Zone 2 and 3 because of the amount of choice people have.
The latest research from Benham & Reeves Residential Lettings shows a neutral market; many postcodes are showing little or no rental increases, with some showing rental decreases. The market is buoyant with an increase in the number of tenants however, rents haven't seen increases in places like Zone 2 to 3 because of the amount of choice people have.
Yet another leading lettings agent has hit out at the government over its proposals for three year tenancies beng the norm in the rental sector. Marc von Grundherr, lettings director of Benham and Reeves Residential Lettings, argues that the proposals fail to address the requirements of the UK's diverse and rapidly changing rental landscape.
Benham and Reeves Residential Lettings has responded to the Government’s plan to establish three-year tenancies for private tenants as mandatory. Marc von Grundherr, Lettings Director for the company, has voiced his opinion that the proposals so far announced have not actually addressed the requirements of the UK’s “diverse and rapidly changing” Private Rented Sector (PRS).
First, contact your letting agent. If they manage your property, they should have systems in place to deal with this type of problem. Communciation is key - when a tenant misses a payment we immediately call them to find out why.