Industry News


Brighton is named as most profitable city for private landlords


most profitable area for private landlords to invest in property. Brighton ranked as most profitable city for


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landlords making an average monthly profit of £668.95, beating London (£570.22) to top place. The study by CIA Landlord reveals UK landlords need to spend a whopping £925.40 per month on average in costs. Solihull in the West Midlands was revealed as the worst city to become a landlord making a loss of £207.41 a month CIA Landlord put together a study looking at


every cost associated with being a landlord. From licence fees to maintenance costs, the research gives an overview of the best and worst places to become a landlord in the UK. The 10 best cities to become a landlord based


on the average property price, mortgage cost, average rent, and the monthly costs of being a landlord to calculate monthly profit, were Brighton, followed by London, Leeds, Bristol, Manchester, Nottingham, Belfast, Newcastle, Glasgow and Coventry. Meanwhile the worst cities to become a landlord, where it is predicted a loss would be made are Solihull, followed by Sheffield, Bradford and Wakefield. Annual fees for expenses like landlord insurance,


obtaining an Energy Performance Certificate and paying licence fees are estimated at £609.95. On top of this landlords need to factor in the cost of maintenance repairs and replacements. Whether it is supplying a toaster for a new tenant


or replacing an entire dishwasher, these costs soon add up. The study revealed that the average cost of buying all household appliances (dishwasher, fan oven, tumble dryer, fridge, washing machine and boiler) comes to a hefty £3,652.88, with an average annual replacement cost of £50.38.


study undertaken by an insurance company specialising in the rentals market has found the coastal city of Brighton is the


Brighton ranked as most profitable city for landlords making an average monthly profit of £668.95, beating London (£570.22) to top place.


When it comes to furnishing a buy-to-let house,


it is important to take into account these costs as well. For example, the total cost of purchasing furniture, (bed frame, mattresses, sofa, wardrobe, drawers) comes to an average cost of £1,314.65 in a 1 bed house, with an average annual replacement cost of £115.32. Richard Wayman, Finance Director at CIA


Landlord said, “When looking into the true costs of being a landlord, it can certainly come as a surprise to some at just how expensive certain requirements are. Before taking your first step into the property ladder, we recommend you consider all the required costs involved and ensure you invest in an area that will be profitable for you in the long-term future.”


Union demands extra protections for student renters


The National Union of Students is demanding that the Government acts to reassure students and remove housing anxieties caused by the Coronavirus crisis and responses to it. The union claims that students are particularly


vulnerable to losing their tenancies in a period of uncertainty. Eva Crossan Jory, NUS Vice President (Welfare) said: “NUS is working hard to ensure there are


protections for all student tenants in place during this crisis. The current crisis demands that students have a safe, affordable and secure roof over their head – this is a matter of social justice and public health! “We are calling for student landlords to offer a


no-penalty release from tenancy contracts to their tenants, an end to evictions and the subsidy, and the reduction or waiving of rent payments for students impacted financially by coronavirus." The union’s five key demands for Government, regarding student renters are:


1. Ensure all tenants and landlords have access to clear and holistic public health advice.


2. Every student landlord must offer a no-penalty release from tenancy contracts for the current


16 | HMM April/May 2020 | www.housingmmonline.co.uk


and next academic year.


3. Government must ban all evictions, for all renters, for the duration of the crisis.


4. Government must ensure that renters who are financially impacted by the coronavirus have their forthcoming rents subsidised, significantly reduced or waived entirely for 3 months – with the option to renew if needed.


5. Government must enact a universal freeze on all rent increases for the next 12 months.


The NUS are looking to universities and the private sector Purpose Built Student Accommodation (PBSA) providers and landlords to implement all of these demands voluntarily with immediate effect and implement the current Government advice on the coronavirus pandemic.


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