Private renting in Wirral - 12th Jun 2014 5:16pm
Saw this on a NW Landlords Assoc website today. Doesnt seem good news for NW renters , a lose lose situation, or am I being short sighted and overlooking something?
Advertising Properties
June 6, 2014 by Admin ·
It has become very noticeable that many landlords and agents are advertising properties in the local press and on the internet quoting rents which are lower than prevailing LHA levels. Members will also have noticed that the LHA level for two-bedroom accommodation has been reduced from £475. pcm to £450.pcm. This is a reduction of £300. per year. There is a direct correlation between the advertisements and the reduction:- the valuation office which collates information about market rents and then uses such information to determine LHA levels from time to time will be influenced very much by the advertisement it sees. If landlords persist in offering properties at less than LHA levels, this will become a self-fulfilling prophecy and all landlords will lose. Over a five year period the loss in the case of two-bedroomed accommodation would amount to £1,500. Compare that with the cost of a licence at £500. Many members are rightly concerned about the proposals for the licensing of private rented sector properties in Liverpool. The purpose of this article is to draw attention to an even more costly danger which confronts landlords and which may be of their own making
Advertising Properties
June 6, 2014 by Admin ·
It has become very noticeable that many landlords and agents are advertising properties in the local press and on the internet quoting rents which are lower than prevailing LHA levels. Members will also have noticed that the LHA level for two-bedroom accommodation has been reduced from £475. pcm to £450.pcm. This is a reduction of £300. per year. There is a direct correlation between the advertisements and the reduction:- the valuation office which collates information about market rents and then uses such information to determine LHA levels from time to time will be influenced very much by the advertisement it sees. If landlords persist in offering properties at less than LHA levels, this will become a self-fulfilling prophecy and all landlords will lose. Over a five year period the loss in the case of two-bedroomed accommodation would amount to £1,500. Compare that with the cost of a licence at £500. Many members are rightly concerned about the proposals for the licensing of private rented sector properties in Liverpool. The purpose of this article is to draw attention to an even more costly danger which confronts landlords and which may be of their own making