Latest news with #rentalproperties
Telegraph
a day ago
- Business
- Telegraph
I'm an old-school landlord – the future of the rental market terrifies me
Have a question to ask The Secret Landlord? Email secretlandlord@ It struck me today, as I was organising a batch of electrical certificates (rental properties must have electrics checked every five years), how all my tenants are the same ones I rented to when the contractor last visited five years ago. In fact, for two thirds of the properties, they are the same tenants as when I received the previous certificate 10 years ago. Electrical certificates were not made law until 2020 for new tenancies, and 2021 for existing, but I've been carrying out these checks for much longer than that. I may not have been required to by law, but seeing as, by law, I've been required to provide safe accommodation, it's something I've always done. Something else that I've always done is use the same contractor for the same properties. It may not sound competitive, but I value customer service over saving a few pounds, and it's worked very well for me. Of the properties I manage myself (I operate a hybrid model whereby I self-manage some and have agents for others), I give the tenants the contractors' contact details and urge them – if faced with an issue – to contact the contractor directly. In my 21 years of being a landlord not one tenant has ever abused this system. Considering the trust I've built up over the years with my tenants, I was struck by how much trust has been eroded from the rental sector while reading about rental supply being at an all-time low. With the exodus of what the Americans call 'mom and pop landlords' – the likes of most smaller-scale British private landlords – tenants are now being forced to stump up thousands of pounds for purpose-built shells from large corporates. It makes me feel very old-school, and sad. As a portfolio landlord, I know I'm in the top percentile in terms of the number of properties I own. But whether you have 100 or one, I think the reasons for providing accommodation to someone, in return for rent, doesn't really change: it makes you feel good. I know that line of thinking flies in the face of many people's views of landlords, and successive government policies designed to destroy the sector, but bear with me: being a landlord is a good thing. I enjoy helping people out. I like fixing problems – I was called by a tenant who's broken a tap while writing this! I adore my properties, and I love that people are able to build their lives and stay with me for many years. I enjoy that we can have a relationship, for want of a better word, and that when times get tough (I've had tenants die, divorce and get into debt), I can point people in the right direction. But it's not just practical stuff. Tenants with private landlords can also benefit from the little nuggets of an area we get to know – which doctor's surgery is the best, the new bars that have opened, which streets are best avoided. The stuff no corporate call centre staff will ever grasp, no doubt because they've likely never visited the place, let alone have any knowledge of the ins and outs of the actual property. Of course, I also know my tenants should probably buy their own place at some stage. But I think we can often lose sight of the fact that's not something that suits everyone, and renting a property is an option that should be made available to most people – should they want to. What terrifies and angers me the most about where the rental market is heading is how expensive and corporate this whole sector is becoming. I remember a time when if you wanted to rent a hovel for a pittance, you could. It may not have been much, but at least it would have been a roof over your head in return for not much money. Those days are gone. It shows the impact of regulations on improving the sector, which is a good thing – but at what cost have these changes come about? You see, every improvement has to be paid for in some way, and that, dear reader, only ever leads to higher rents. Over the past few years, I have sold a lot of properties. It wasn't really that I wanted to, but the changed tax law on Section 24 and upcoming EPC changes meant I had to reevaluate my business. It's been a difficult time, but an enlightening one. I had the choice – I still have the choice – to sell everything, but I don't. Being a landlord is a right pain at times, but it's also a rewarding lifestyle and investment choice. This year I celebrate 21 years in the landlord business and honestly, I can't think of anything else I'd rather do with my life.
Telegraph
4 days ago
- Business
- Telegraph
Landlords can force tenants to pay for insulation demanded by Miliband
Landlords will be able to pass on the cost of upgrading rental properties to tenants, the Government has admitted. Ed Miliband's net zero rules will require all rental properties to meet a minimum energy performance certificate rating of C by 2030. Despite the Energy Secretary's insistence that landlords will not put up rents to reach new efficiency targets, a minister has now said there are grounds for 'higher market rents'. The Conservatives say rents could rise as much as £4,000 a year to cover the cost of upgrading older properties or to match lower rental housing supply when landlords sell up. But Mr Miliband has previously said that when past standards were introduced 'we didn't see rent increases', and pointed to government schemes that help with the cost of insulation and heat pumps. The Government claims tenants will save £240 a year on their energy bills if their homes are better insulated. Sarah Sackman, a justice minister, has now admitted to Parliament that the cost of upgrading properties can legally be passed onto renters, paving the way for significant rises over the next five years. She was asked by Kevin Hollinrake, the shadow housing secretary, whether rents could legally be increased because of the cost of net zero upgrades if a tenant challenged a rise in court. Ms Sackman said that 'expenditure on the upgrading of an energy performance certificate to a higher level of energy efficiency is a material consideration, which may result, in certain circumstances, in a higher market rent being determined'. The admission comes despite Mr Miliband's insistence that the new rules will not push up rents. Asked in February whether the rules would impact the cost of housing, he told LBC: 'There is some government help, we're looking at what more can be provided. 'There are some local grants, there's the boiler upgrade scheme. When this was done before with a less exacting standard, we didn't see rent increases and half of landlords already do this.' Announcing the policy earlier this year, the Government said that it would 'save private renters £240 per year on average on their energy bills'. Calls to abandon net zero But Mr Hollinrake told The Telegraph: 'Red Ed promised to reduce everyone's bills but his mad dash to net zero is picking people's pockets. 'Not content with sending bills skyrocketing, hardworking families' rents are now in his crosshairs. Maybe this confession will make him finally realise that Labour's war on landlords just leaves renters worse off. 'He needs to heed our calls to abandon net zero by 2050 and fast, or working families and Middle England will continue to be clobbered by his eco cult.' Separate analysis found the policy is likely to push up rental prices by up to £4,000 a year for tenants. Some landlords say they would prefer to sell historic homes with poor energy efficiency than be forced to undertake extensive renovation to meet the standard. Ben Beadle, chief executive of the National Residential Landlords Association, called in February for ministers to pursue a 'realistic' version of the policy. 'The chronic shortage of tradespeople to carry out energy efficiency works needs to be addressed, alongside a targeted financial package to support investments in the work required,' he said. 'Gentler trajectory' Rob Wall, assistant director at the British Property Federation, said it would be ' challenging ' for all properties to meet the standard required. He said: 'We would like to have seen recognition of the time lost reflected through a gentler trajectory, to provide the sector with sufficient time and support to carry out necessary work.' A Department of Energy Security and Net Zero spokesman has said: 'Everyone deserves to live in a warm, comfortable home. 'We have recently consulted on plans to require private landlords to meet higher energy performance standards, which will help deliver cheaper-to-heat homes. 'These plans could lift up to half a million households out of fuel poverty by 2030, while also making renters hundreds of pounds better off.'
RNZ News
22-05-2025
- General
- RNZ News
Some landlords, tenants unaware of Healthy Homes standards despite looming deadline
Photo: RNZ / Dom Thomas Liam White can share some horror stories about rental properties in Dunedin. "I went into a flat and I saw a window - the landlord had cut out the corner wide enough that you could stick your finger through it so they could open the window past a balcony - there was just a constant draught coming in. There's heat pumps that don't work … there's the classic holes in walls, cladding on the side of houses broken that hasn't been fixed. It's a lot of stuff." White is president of the Otago University Students Association. The government's Tenancy Compliance and Investigations team (TCIT) has this week been visiting student rentals in Dunedin to check whether they comply with the Residential Tenancies Act. Acting TCIT national manager Clare Lyons-Montgomery said landlords must provide rental homes that are warm, safe and dry. "Young people are a priority population for our team, as they can be vulnerable and unaware of their rights because they are new to renting. Auckland Property Investors Association general manager Sarina Gibbon says some people don't understand how strict the deadline will be. Photo: Supplied "Landlords have obligations and responsibilities under the Residential Tenancies Act and must provide a rental home that complies with all building, health and safety requirements in additional to tenancy law." All rental properties must also comply with the Healthy Homes standards by 1 July this year, which require ventilation, heating and insulation. Tenancies started or renewed on or after 3 March had until then to comply but from 1 July there is no leeway and every new tenancy must comply immediately. White said he had been told about 30 percent of Dunedin student rentals would not comply. But he said students were sometimes hesitant to raise problems with property managers or landlords because they worried about their ability to get a reference in future, or about creating other problems for themselves. The Ministry of Housing and Urban Development said its most recent survey of Healthy Homes compliance was in January 2024 and found 17 percent of landlords said they fully met the standards and almost three-quarters had done something to prepare. "From July 1, all private rentals must comply with the healthy homes standards. All boarding houses, Kāinga Ora houses and registered community housing provider houses must already comply with the healthy homes standards," Lyons-Montgomery said. "Landlords who do not meet their obligations under the standards are in breach of the Residential Tenancies Act 1986 - and may face consequences, like financial penalties." Sarina Gibbon, general manager of the Auckland Property Investors Association, said she had been talking to colleagues about the lack of awareness about how the deadline applied. "The situation appears to be split across experience lines. Seasoned landlords and property managers who have had the standards drummed into them since 2019 have largely adapted and developed the right muscle memory. "You'll recall that in 2022 when the government extended the deadline out by two years so that Kainga Ora could have more runway [it] went down like a lead balloon for the private sector. That said, the already generous compliance timeline should mean that there is no excuse for rental properties to not comply. We are finally getting to a point in the rental sector where we can stop negotiating on tenants' wellbeing." But she said she was still seeing things that concerned her. "Many less experienced landlords and property managers seem unaware that, from July 1, there's no grace period - properties must be fully compliant, period. So none of that 90 or 120 day runway from the start of the tenancy. That's fine because the TCIT can clean that up. What worries me the most is that the knowledge gap extends to tenants too. Many don't realise they will have the right to a fully Healthy Homes compliant home from 1 July. This is potentially harmful for vulnerable renters in non-compliant houses. " She said if landlords did not treat compliance as a priority, it was reasonable to expect the Tenancy Tribunal and TCIT to "come down hard on them". "The industry has had way too long to get our heads around the standards, let's get on with it already." Some property managers are understood to be preparing to drop clients who are not willing to make changes to comply with the rules. But MBIE is likely to monitor bond forms for a change of landlord from a property manager to a private arrangement, then audit those properties. Matt Ball, spokesperson for the NZ Property Investors Federation, said his organisation's members tended to be well prepared. But he said there could be some "accidental landlords" who had decided to rent a property rather than sell it who might not have considered it properly. He said he had heard from tradespeople that there had been an increase in inquiry from property owners needing work done to comply. "There might be some people rushing at the last minute to get everything done." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
22-05-2025
- General
- RNZ News
Dunedin rental check reveal improvements needed in student accommodation
The Minister found landlords who had not ensured their properties were up to standard. Photo: RNZ / Dom Thomas An investigation has found Dunedin students often find problems with rental properties soon after moving in. The Ministry of Business, Innovation and Employment inspected student rentals this week to check that landlords weren't offering damp, rundown homes. From July, healthy homes standards will come into force, setting a benchmark for heating, insulation, ventilation, moisture barriers, drainage and draught stopping in rental properties. The tenancy compliance and investigations team have already visited 53 properties and planned to visit more next week. The Ministry found landlords who had not ensured their properties were up to standard or reasonably clean before students moved in, but the problems were usually sorted out quickly. Maintenance issues - including heatpumps not working or needing installation, and healthy homes standards not being met within time frames - were also discovered during the visits. Most landlords who were contacted before visits were receptive, but the Ministry confirmed it would follow up with the landlords or property management companies who did not respond or declined inspections. The team observed recent maintenance or improvements had been done at several properties, but most properties needed minor work under the Residential Tenancies Act 1986. "Several students explained that their landlord had completed smoke alarm inspections in the past two weeks and left a copy of a healthy homes standard statement at the property," the Ministry said. Otago University Students Association previously said many students were forced to live in cold, old, and mouldy flats, and did not speak out, fearing they would jeopardise future references or create more problems for themselves. Students had been very receptive to the visits, and appreciated advice on their rights and responsibilities, the Ministry said. A more detailed update on the state of Dunedin student rentals was expected later in the year. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Associated Press
20-05-2025
- Business
- Associated Press
'Turning Rental Properties Into Passive Income Profit$': How a Side-Hustle Becomes Your Secure Retirement
The Beginner's 10-Step Real Estate Investing Book for Early Retirement and Creating Wealth KNOXVILLE, TENNESSEE / ACCESS Newswire / May 20, 2025 / For those new to real estate investing and seeking a reliable path to financial freedom, Turning Rental Properties Into Passive Income Profit$ by Dustin Roberts, offers a comprehensive and action-oriented playbook that's rooted in experience and Properties Into Real Estate Investing Profit$ Beginner Rental Property Investment and Real Estate Investor Book: Real estate has been a proven vehicle for building long-term wealth, especially through passive income generated by rental properties. However, many real estate investing 101 beginners often find the early steps confusing and overwhelming - analyzing deals, securing financing, managing tenants,and maintaining properties can feel like navigating an unfamiliar maze. Roberts addresses these challenges head-on with clarity and confidence, delivering a blueprint designed notably for first-timers. Subtitled The Beginner's 10-Step Real Estate Investing Book for Early Retirement and Creating Wealth, this guide provides a step-by-step framework that decodes the matrix of rental property investing. Drawing from real-life experience, Roberts lifts much of the fog by offering an accessible, actionable,and motivating approach. His ABCs of real estate investing handbook is written especially for readers starting at the same place that he first began, meticulously working to escape the poor rat race cycle with a cashflow side-hustle. Roberts' proven investor roadmap is also for those that are all-in committed to rentals as their primary vehicle for a secure retirement and creating generational wealth. This guidance is specifically designed by the numbers to inspire readers with calculated decision-making and certainty. What sets this book apart in the crowded newcomer space is its end-to-end approach. Rather than focusing solely on getting started, Roberts takes readers through the entire millionaire real estate investment cycle. You'll dive into the types of rentals: single-family, multifamily and commercial real estate. Deeper topics include market research, deal evaluation (emphasizing cash flow), funding strategies, property management options (landlord self-managing vs. turn-key solutions), and even scaling up a rental portfolio. Each chapter is intentionally structured to build on the last, featuring helpful summaries, analysis formulas, all-encompassing checklist, and candid examples drawn from the author's own journey. One of the book's strongest qualities is its honesty. Roberts does not play games or promise a get-rich-quick-for-dummies guide. Instead, he presents rental property investments as a realistic, long-term path that requires effort, planning,and consistent action. His focus on implementation over concept helps readers build purposefulness and real momentum. Just as mom or dad mentors their own child, he reveals what every real estate investor needs to know in today's rental market. By setting accurate expectations and combining determination with tangible steps, this guidebook becomes not just an introduction, but a tool for sustained growth, worth revisiting time and again. Whether your goal is supplemental income, early retirement or creating a scalable rental portfolio, Turning Rental Properties Into Passive Income Profit$ equips you with the mindset, strategy, and tools to move forward. More than just a rookie how-to manual, it serves as a launchpad for building wealth - one house at a time. Contact InformationDustin Roberts Author, Self-Publisher, Entrepreneur and Active Real Estate Investor SOURCE: Dustin Roberts LLC press release
