Strood: An Untapped HMO Location?
Hello Readers, I have been doing some research into HMOs within the Medway Towns and thought I would give some time to writing about Strood, which I feel is something of an untapped location when it comes to HMO. Before delving into some statistics I thought I’d share an interesting article about one large unlawful […]
Licensed HMOs in Medway – the data
For those of you who read my articles regularly, you may recall that at the beginning of the year I reported some interesting statistics on the number of HMO license approvals being granted across the country. Incase you don’t, the stats showed that over the past 12 months, 18,984 HMO license applications were made to […]
Finally, some real progress in tackling unfit rental properties
There seems to have been another round of legislative changes that have all come at once and this one tackles some of the unfit rental properties that are a curse on our industry. The Homes (Fitness for Human Habitation) Act 2018 amends the Landlord and Tenant Act 1985 to state that landlords must ensure their […]
99.4% of HMO applications are being approved but 72% of Councils are not enforcing license law
As you all know, my lettings company specialises in management of Houses of Multiple Occupation (HMO) so I always have a vested interest in the HMO market. In October last year, one of the most important legislations for HMOs changed; the mandatory HMO licensing rules removed the three storey rule (previously licensing applied to HMOs […]
Beneath the Brexit terror headlines; Medway house prices show annual growth of 11.5%
A few weeks ago I gave you a round up of the Kent Property Market Report. If you didn’t read it, please do. There were a few points I wanted to dig into more, especially the Brexit effect on the Medway market. With the Brexit deadline of 29th March fast approaching, the PM surviving a […]
Is the complexity of licensing going to drive landlords out?
I’ve just written an article on some license changes in Bexley which could considerably change the landscape of Houses in Multiple Occupation (HMO) ownership in that area, which led me to thinking about the wider impact of licensing complexities for buy-to-let landlords. Currently Medway Council follow the prescribed licensing set out by the government; that […]
What does the interest rate rise mean for the rental market?
Incase you missed it, The Bank of England raised the base rate from 0.25% to 0.5% this week. The base rate is the Bank of England’s official borrowing rate, which influences what borrowers pay and savers earn. The base rate has remained fairly static over the last decade, with 0.25% being the lowest on record. […]
Stamp duty hike sees fall in supply and rising rents for quality Medway property
Rental prices are constantly in flux, and latest research by Countrywide shows that rent figures are on the rise, with average figures increasing from 1.1% to 2.2% between June and July. That rise brings to an end eight months of falling rental prices, going on what’s happening in the capital, where Countrywide’s figures focus. There’s […]
Is Nelson Road in Gillingham a sleeping giant in the Medway property market?
With Medway continuing to be a hotspot for property investment, people will often get in touch with me wanting to know what the prime areas in the Towns are to look out for. It’s one thing knowing that Rochester demands the highest prices (third for buy-to-let in country, in fact!) and that Chatham is up […]
