Rob looks into the ongoing British rental crisis, highlighting the decrease in listing times for rental properties and the high demand for homes. He delves into the reasons behind the lack of available properties, such as government tax changes affecting landlords and uncertainty in the market, emphasising the importance of understanding economic fundamentals in the property market and reiterates the need for sustainable housing policies to address the crisis.

KEY TAKEAWAYS

• The British rental crisis continues due to high demand and lack of available properties.
• Two-bedroom rental homes are now listed on average for 25 days, 10 days less than before the pandemic.
• Landlords are selling properties due to tax changes and uncertainty in the market, leading to a decrease in available properties.
• The conservative target for new homes is 300,000 a year, but only about 210,000 are being built, contributing to the housing shortage.
• Understanding economic fundamentals in housing is crucial for investors to navigate the current market challenges.

BEST MOMENTS

"The big British rental crisis continues... renters are in races for homes as listing times are slashed."

"Landlords have had the rough end of the stick... quite a lot of landlords have been looking to sell up."

"Scotland likes to shoot itself in the foot... Actually, to be fair, most of the UK does."

"Everyone warns about danger ahead... there's not enough supply coming to the market."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/homeandproperty/how-cornwall-s-crackdown-on-second-homes-backfired/ar-BB1mmFWU?ocid=winp2fptaskbar&cvid=5dec6af5503849e3a3bb1dae3f11ebf2&ei=6&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses the controversial topic of selective licensing, looking into the implications of selective licensing on landlords in certain areas of the UK, particularly in England. The episode highlights how selective licensing can be seen as a cash generator for councils, creating more bureaucracy and expenses for landlords.

KEY TAKEAWAYS

• Selective licensing is a process where landlords in certain areas are required to obtain a license for each property, leading to additional costs and bureaucracy.
• The implementation of selective licensing can result in councils having more power and potentially targeting good landlords for fines and penalties.
• Selective licensing can deter landlords from investing in certain areas, leading to a decrease in available rental properties and potentially driving up rents due to supply and demand.
• The scheme of selective licensing should ideally be non-profit to ensure that the income matches the outgoings.
• It is important to be cautious and aware of selective licensing regulations in the areas where you operate as a landlord or property investor.

BEST MOMENTS

"Selective licensing is not a good thing. It gives councils too much power."

"Selective licensing is another way to bash landlords. It's another way to put a cost of business on the landlord."

"The challenge with selective licensing is what it can do is it gives the councils more power and then they will exacerbate that power."

"If landlords start selling up and first-time buyers start buying, or landlords sell up and there's no other landlords to buy, then the amount of stock available goes down."

VALUABLE RESOURCES

https://www.bbc.co.uk/news/articles/cxr33l9dx0yo

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses the Village Green Protection Law, dating back to 1857, and its impact on property development in the UK. The law allows certain areas to be designated as village greens, preventing any development or enclosure on the land. The episode highlights how residents are using this law to halt developers from building on specific plots of land, creating obstacles for increasing housing supply.

KEY TAKEAWAYS

• The Village Green Protection Law, dating back to 1857, is being used by villagers and individuals to prevent developers from developing land.
• In order for land to be designated as a village green, it must have been used for sports, pastimes, and recreation for at least 20 consecutive years.
• Developers need to consider the Village Green Protection Law when looking at land for development, as more people are seeking to designate areas as village greens.
• Examples of the law being used include blocking a housing development in Bristol and designating a plot near a supermarket in Ashford, Kent, as a village green.
• Once land is designated as a village green, it cannot be developed or enclosed, regardless of ownership.

BEST MOMENTS

"It pretty much means that that land is not able to be developed on. No matter who owns it, you are not allowed to develop on it, nor are you allowed to enclose that land either."

"You're in an area where you don't want development to happen. You're a nimby, as they say, not in my backyard. You don't want developments to happen. You want to be able to protect it somehow."

"If you are a developer and you're developing something or you're looking to develop something, you're going to have to now be aware of this law, the Village Green Protection Law from 1857."

"Purely because once something is designated as a village green, it cannot be developed or enclosed. Regardless of who owns what, it cannot be developed on."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob delves into the intricacies of leaseholds in this episode, focusing specifically on the importance of lease length when considering purchasing a leasehold property. Rob highlights the potential challenges that arise when a lease falls below 80 years, making it difficult to secure a mortgage and significantly increasing the cost of extending the lease. Listeners are advised to consult with a specialist solicitor and factor in the premium for extending the lease when evaluating the value of a property.

KEY TAKEAWAYS

• When considering purchasing a leasehold property, it's crucial to pay attention to the length of the lease. Leases typically range between 99 and 125 years, with longer leases being more favourable.
• Extending a lease comes with a cost, which can significantly increase when the lease falls below 80 years. This can impact the property's value and the ability to secure lending.
• The premium for extending a lease can vary based on factors such as the property's value and the remaining lease length. It's essential to factor in these costs when buying a leasehold property.
• To extend a lease, there is an ownership test requirement, where the claimant must have owned the lease for two years before making a claim. This test can impact the premium for extending the lease.

BEST MOMENTS

"There comes a point where if the length of the lease gets to a certain time frame, then it could become much more challenging to get a mortgage on that property."

"The cost, though, of increasing the length of lease significantly increases when the lease falls below 80 years. This normally means that lenders won't lend on it."

"Surprise, surprise, the government have proposed reforms to make it cheaper to extend short leases. But as with anything and everything that's been going on through the halls of Westminster, you probably won't be surprised to hear that that's going to take a while for that to go through."

"If, for example, a flat's worth £500,000, and it's got 81 years left on the lease, then the premium on extending that lease would be around about 11,000 pounds."

"General rule of thumb is that when a leasehold or when a lease is 80 years or less, then it becomes significantly more challenging to get any form of lending on it."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses five simple and cost-effective energy-saving measures that can be implemented in both homes and property portfolios. The measures include changing to LED lighting for energy efficiency, addressing air gaps around doors and windows, upgrading loft insulation to meet building regulations, maintaining radiators by bleeding them and adding reflective sheets, and insulating pipework to reduce energy consumption. Rob focusses on the importance of these measures in improving energy efficiency, reducing bills, and potentially increasing energy performance certificate ratings.

KEY TAKEAWAYS

• Change over to LED lighting for energy efficiency and longer lifespan.
• Check for air gaps around doors and windows, and use draft excluders to retain heat.
• Upgrade loft insulation to meet building regulations and improve heat retention.
• Bleed radiators and add reflective sheets behind them to increase heat effectiveness.
• Insulate pipework to prevent freezing, maintain hot water temperature, and reduce overall energy consumption.

BEST MOMENTS

"You could change your old halogen light bulbs to LED ones. This will help you become more energy efficient because the LED lights use less energy."

"Loft insulation might not be applicable to you if you live in a flat, but if you do have a roof area with insulation, check the depth and contact your energy supplier to upgrade it to meet building regulations."

"Bleed your radiators, add some foil behind them to reflect heat back into the room. That's quite useful."

"Having insulated pipes keeps things warmer for longer, reducing overall energy consumption and helping to reduce bills moving forward."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob delves into the complexities and issues surrounding leasehold properties in England and Wales. He highlights the challenges faced by leaseholders, such as escalating ground rent and service charges, as well as the low threshold for repossession if payments are not made. Rob also touches on the proposed Leasehold Reform Bill, which aims to ban the creation of new leasehold houses and make it easier for leaseholders to buy their freeholds.

KEY TAKEAWAYS

• The government is considering the Leasehold Reform Bill to ban the creation of new leasehold houses in England and Wales and make it easier for leaseholders to buy their freeholds.
• Currently, a leasehold property can be repossessed if the leaseholder owes as little as £350, which is considered a low amount and needs to be increased.
• It is crucial for individuals considering buying a leasehold property to conduct thorough research, especially regarding ground rent and service charges, and to engage a solicitor to review all agreements.
• Freeholders are urged to set fair charges and not take advantage of leaseholders, as unethical practices can tarnish the reputation of the housing market.

BEST MOMENTS

"A freehold basically means that you own the land that the buildings are on, and therefore you've pretty much got the right to do what you need and want to do."

"£350 is what is all it takes at the moment for a property to potentially be repossessed if that's what the leaseholder owes. And that's not good."

"Leasehold houses, modern leasehold houses, are just a bad idea in general, because people, if you're buying, especially if you're buying a house, and it's leasehold, that to me just spells danger."

"The Leasehold Bill, it's making its way through Parliament. This would ban the creation of new leasehold houses in England and Wales. It would also make it easier for leaseholders to buy their freeholds."

"From a freeholder point of view, dear freeholders, I understand there's a lot of things, costs out there, but do not rip people off because this is then painting everyone in a bad light."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses the government's backtracking on the no-fault eviction ban, specifically focusing on Michael Gove's inability to guarantee its implementation before the next election. The episode delves into the complexities of the housing crisis, highlighting the perspectives of both landlords and tenants on the issue

KEY TAKEAWAYS

• The government is backtracking on the no-fault eviction ban, with uncertainty about its implementation before the next election.
• There are two sides to the debate on no-fault evictions, with landlords wanting the option for scenarios where they need the property back quickly, while tenants seek security and stability.
• The government's promises regarding the no-fault eviction ban have been inconsistent, leading to skepticism about its actual implementation.
• The issue of no-fault evictions currently only applies to England.
• It is suggested to wait for the new government to see how they handle the no-fault eviction ban issue.

BEST MOMENTS

"The government have had this in place since I believe 2019 and they've wanted to bring this in and then some pandemics and all that sort of stuff that pushed things to the back burner."

"There's many reasons why demand is much higher than supply at the moment, and that's not going to change."

"Landlord's point of view is quite simple. We still want no full evictions because there are scenarios where we want the property back or if a tenant's been very difficult."

"Tenants want security, they want to be able to get by day to day, knowing that they've got that medium to long term security."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses a new property strategy that may be available for property investors to explore. With many councils facing financial struggles and looking to sell off assets to cover liabilities, there is a unique opportunity for property developers and investors to potentially acquire land or buildings at discounted rates. Rob encourages you to reach out to your local council, particularly those in financial distress, to explore potential opportunities for collaboration or investment.

KEY TAKEAWAYS

• A new property strategy may be available through local councils selling assets to fund liabilities.
• Property developers and investors can benefit from contacting struggling councils to potentially purchase assets at discounted rates.
• It is advisable to reach out to local councils, such as Nottinghamshire City Council or Birmingham City Council, who are aiming to raise funds through asset sales.
• Building a win-win situation with councils by offering to purchase assets or potentially joint venture with them can be advantageous.
• Success stories from engaging with councils should be shared, and support for the podcast by liking, subscribing, and checking out the YouTube channel is encouraged.

BEST MOMENTS

"There might be a new property strategy available and there might even be a new way to obtain quite a lot of property."

"Selling assets to pay for your liabilities is not a good thing, you need to do it the other way around."

"You could be in a very good position to help your council. What you need to do is to just get in contact with them."

"There are always opportunities out there, and for the sake of reaching out to your council, you never know what you might end up with."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast