Business as usual in the rental sector
- Credit: Archant
SPONSORED Eastern Landlords Association chief executive Peter Davis says it's business as usual for private landlords in the wake of the Brexit vote
It is now a couple of months since the Brexit vote – and no property crash, as some rather pessimistically predicted. Almost business as normal in the property game, and certainly for private landlords.
The Bank of England has cut the base rate, and we have some more quantative easing. What effect this action will have on the housing market, and on the rental side, is not likely to be huge.
Private landlords are getting on with their work, with concerns on the 'Tenant Tax', and for many the continuing implementation of Universal Credit.
On the former, there is now a date for the hearing hopefully to be granted a judicial review, and for the latter – especially for landlords in Waveney and Great Yarmouth attempting to get grips with the foibles of the benefit masterplan from the DWP.
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In Norwich of more concern for many landlords is the resurrection by the council of the possibility of the introduction of Article 4, a special planning regulation adopted by a local planning authority, operating by removing certain permitted development rights: in this case, in simple terms, control of new HMOs.
Working with UEA, the Eastern Landlords' Association (ELA) is opposed to these plans, which will have an effect on the availability of certain types of much needed accommodation for the city, especially for students and single people. A decision is likely to be made at a meeting of the Cabinet next month.
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September also sees the National Landlord Investment show roll into Carrow Road Norwich on September 28. The ELA, as the local landlord association, is proud to be a main sponsor of the day, and will be one of more than 30 exhibitors, predominantly local companies, at this free to attend event.
The show, back in Norwich this year, will focus on opportunities in the area, and be of benefit to all landlords, and those considering this business. The day will also include a number of seminars from key speakers on various subjects relating to the sector.
For those who cannot attend on the day, we, with our office in Norwich are available with help and advice on any residential lettings matter five days a week through our experienced staff.
The sector is forever changing, and through our regular newsletters and website we do our best to keep members informed of the legalities and good practice in the business - and it is a business - of being a landlord.
The prime minister, not surprisingly, has juggled the pack and we have a plethora of new ministers, including yet another incumbent at housing and planning. As if this was not enough for one individual, London is added to the portfolio, but no seat at the high table (Cabinet).
We wish Gavin Barwell all the very best, the fifth housing minister since 2010, Brandon Lewis having managed two years in the position. Mr Barwell's interests, according to his official parliamentary listing do not include London, planning or housing. Just the chap for the job then.
01603 767101; www.easternlandlords.org.uk