Extortionate court fee increases will impact landlords

Landlord Action has lambasted Government plans to increase court fees as “extortionate”.  The planned changes will take effect from 22nd April 2014, where fees for possession claims will see one of the largest increases at 60%, and could spark a stampede of possession cases in the next two weeks from landlords trying to beat the rises.   Currently the application for possession, which is used after service of a section 8 notice, costs £175, the same as an accelerated possession claim used after service of a section 21 notice. From 22nd April, this will increase to £280. The possession claim online (PCOL) service which can only be used after a section 8 notice on rent arrears grounds, currently has a substantially discounted fee of £100. This will rise by 150% to £250, making the discount for using the online system far less appealing. The Government has stated “the benefits brought...
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Rental Yields strong on Supply falls – at least in the South!

Findaproperty.coms Q3 Rental Index, released recently, shows an increase in average rental by 1.4% - now standing at £851. It is believed that this is due to the rental stock levels having fallen by an amazing 14.5% in the last quarter, with fewer properties available since July 2008. Nigel Lewis, property analyst at FindaProperty.com, said: "Now is a great time for people with properties to rent, particularly for people in London and the South with asking prices for rent continuing to rise and demand holding firm." Not surprisingly on a regional basis the figures are not all in line with London and the South holding the majority of the increases in Sept 2010 – a whopping 5.1% in London. Areas like Scotland, Wales and East Midlands however see some fairly large falls in rental of -3.4%, -2.7% and -1.8% respectively. For more information visit: http://www.findaproperty.com/rental-index.aspx Have you had any experience with...
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