Property News In Reading

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Reading Council Proposes Borough-Wide HMO Licensing and New Fees 30 August 2024

The Reading Council is planning to expand licensing to all HMOs in the Borough that house three to four occupants, in addition to the current licensing rules for larger HMOs. Landlords will need to pay a fee of £950 for the HMO licence, which can be reduced to £800 for members of the National Residential Landlords Association (NRLA).... Read More

EPC Targets to be Reintroduced 23 August 2024

Labour are looking to reintroduce the EPC targets which was set in the most recent Conservative government. These targets included all private rental properties to have an EPC rating of C or better by 2030. This was abandoned a year ago though by Rishi Sunak.... Read More

Don`t Trigger Evictions Till New Reform Comes In 19 August 2024

With the announcement from Labour of the new Renters Rights Bill, international legal practice Osborne Clarke is warning the new government to give clarity to the measures coming into place. Osborne Clarke has stated that the minimal amount of information shared about the proposed bill by the government in the King"s Speech and subsequent official documents.... Read More

Possible Capital Gains Tax Rise 12 August 2024

Recently a lot of articles in the press have suggested that Labour may align Capital Gains Tax (CGT) with income tax rates. Chancellor Rachel Reeves has also refused to rule out whether she will increase the rate of CGT in her Autumn Budget that takes place on October 30th.... Read More

Interest Rates may be cut in August 26 July 2024

Currently the Bank of England has been at a 16-year high of 5.25% base rate. This is expected to be dropped to 5% as of August. The majority of economists surveyed, 49 out of 60, estimated this decrease. The interest rate decrease will be the first one after 14 consecutive hikes for the Bank of England.... Read More

Renters Rights Bill Confirmed 22 July 2024

A new Renters Rights Bill has been confirmed on the 17th July 2024. This was confirmed as an announcement was made in the King"s Speech saying the government would give "greater rights and protections to people renting their homes, including ending ‘no fault" evictions and reforming grounds for possession.... Read More

The Future of Housing in a Labour Government 17 July 2024

The results of the UK general election were announced on 4th July and saw Labour win by a landslide majority over the Conservative party. This has ended the Conservative"s 14-year reign and Labour plan to make a lot of significant changes to the housing market as stated in their manifesto.... Read More

Why it is still Profitable being a Landlord in 2024 14 June 2024

With all the doom and gloom from the recent months, we look at some of the points in which being a Landlord still reaps financial benefits in the present day.

Recently, Landlords in the UK have faced criticism from government policies. They have been portrayed as easy targets in a political battle aimed at gaining tenants" favour, often at the expense of those who have invested in the private rental sector.... Read More

What happens to the Renters Reform Bill during the Election? 10 June 2024

With a General Election being called for July 4th many of us are wondering what may happen to the current Renters Reform Bill. The Renters Reform Bill is part way through its Parliamentary process having gone through the House of Commons and has had its first reading in the House of Lords.... Read More

Rent Rises are Slowing Down 03 June 2024

Landlords have seen some big rises in rent over the last few years, however signs are showing that rental prices are slowing down. Average private rents in the UK increased by 8.9% in the last 12 months which is down from 9.2% in the previous month. This means on average tenants are still paying £103 more every month than they were a year ago.... Read More

Attention Landlords: Possible Expansion of HMO Licensing in Reading 28 May 2024

On 21st May, Reading Borough Council sent an E-Mail round to HMO Landlords within the area to propose a new property licensing scheme. This would be an optional scheme which sits beside the existing mandatory scheme for larger houses in multiple occupation.... Read More

Plan Ahead with Your Taxes 20 May 2024

HMRC is giving new guidance to Landlords to file their Self-Assessment tax returns early. There are many benefits to doing this and figures are showing that more and more Landlords are getting earlier with filing this. The trend of submitting tax returns last minute every January is changing in the UK.... Read More