The Key Place Newsletter, July 2017 1st Jul 2017

Welcome to the July edition of our newsletter, giving you news from across the rental industry.  This month we look at the latest PRS market research.  We discuss the increase in renting amongst pensioners, and how buy to let could add to your pension pot.  If you want to know how to beat the tax man then find out here.  We outline new changes to Edinburgh HMO fees.  And we introduce the Shelter Scotland Letting Agent Plus project which The Key Place is delighted to be a part of.  We hope you enjoy The Key Place Newsletter.  Please share with friends and they can subscribe to be added to our mailing list.

1 in 4 Renting by 2021 1st Jul 2017

Almost one in four households in Britain will be renting privately by the end of 2021, with a predicted rise in the Private Rented Sector (PRS) of 24% (Knight Frank), bringing it to 5.79 million households. The Multihousing Report surveyed over 10,000 people living in the PRS across the UK. 68% of renters expect to be living in the PRS in 3 years time.

Grow Your Pension Pot 1st Jul 2017

Landlords are facing challenging times with tax changes and tougher criteria for mortgage lending, yet the right buy to let investments can provide an enviable pension pot for landlords who grow their portfolio.

The Rise of the Silver Splitter 1st Jul 2017

As divorce rates amongst older couples soar across the UK, the knock on effect is being felt in the Private Rented Sector (PRS), with a record increase in pensioner bachelor pads. A few months ago I wrote about the rise of the silver renter, now we have the rise of the ‘silver splitter`. Official data shows divorce rates amongst the 60+ age group have been rising since the 1990’s.

Letting Agent Plus Project 1st Jul 2017

With 14% of all households in Scotland now calling the private rented sector home compared with just 5% back in 1999, more people than ever are looking to the private rented sector for long-term housing solutions either through choice or necessity. This growth has led to a more diverse tenant base and, for a variety of reasons, many more private tenants now require extra ongoing or occasional support to access and sustain private tenancies.

HMO Fee Change 1st Jul 2017

The City of Edinburgh Council has introduced a new fee structure for House in Multiple Occupation (HMO) licences. This came into effect on 1st June 2017. If there are 3 or more unrelated tenants in your rental property, it is essential you have an HMO license.

10 Ways to Beat the Tax Man 1st Jul 2017

Being tax efficient is key to being a good landlord. Experts were asked by Portico (London) for 10 legitimate ways to reduce tax bills. This is what they had to say . . .