Managing a House in Multiple Occupation can look straightforward on paper, but in practice it can be one of the most complex forms of property
This year, the lettings landscape—particularly for HMOs and student HMOs in Bristol—has become significantly more challenging. We’re seeing more and more properties sitting on the market for longer periods, even after landlords and agents have reduced rents in an attempt to attract tenants. For many, it’s an incredibly frustrating and financially stressful time, with void periods mounting and returns shrinking.
Renters’ Rights Bill Update: What Landlords Need to Know Now!
The much-anticipated Renters’ Rights Bill continues its progress through Parliament and is currently at report stage in the House of Lords. As part of our commitment to staying ahead of the curve, we’ve been actively monitoring developments and collaborating with fellow industry thought leaders to ensure that ourselves as landlords, our agency and our clients, are all informed and prepared for what’s coming our way, in what will be the biggest shake up, of the private rental sector, in the last 30 years.
Today, we had the privilege of attending a highly informative webinar organised by Sue Sims of Genie Homes via her Birmingham Landlords group in conjunction with the NRLA (National Residential Landlords Association). The NRLA has been a tireless advocate for landlords throughout this legislative journey, consistently lobbying for a fair and balanced approach to the PRS reform.
The Renters’ Rights Bill, which is scheduled to move into Report Stage, in The House of Lords, from 1st to 15th July, is just one parliamentary vote away from becoming law. We have been focussing on some of the individual clauses of the draft Bill over the past weeks and months, and, in this week’s blog article, we look at a clause designed to stop landlords who put their homes on the market for sale, from relisting properties as rentals, for up to a year, in the event that their sale falls through.
This is important to note, because Agents can vary wildly when it comes to valuing a property and some listings remain on the market for long periods, due to unrealistic valuations.
With as many as a third of house sales falling through, it could leave thousands of potential rental properties locked out of the market, resulting in costly void periods for landlords, less stock in the private rental sector and the potential for higher rents.
Creating Safe and Festive Shared Living Spaces
Living in a shared house, or HMO (House in Multiple Occupation), is a unique experience that means different things to different people. For some, it’s a practical solution driven by affordability. For others, it’s a temporary arrangement due to changing life circumstances, while for many, it’s a conscious choice to build connections and friendships in a new city. In Bristol, a city known for its vibrant atmosphere and thriving business community, shared living has become a popular choice for those looking to create lasting memories while enjoying all that the city has to offer.
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