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Rents are increasing due to supply versus demand in line with property prices and a survey reveals that 92.5% firmly believe that they will never join the property ladder.
Jane Morris, MD of the company said: “These stats show that many tenants are still unable to afford to buy a property and believe more should be done to help them. Recent research shows that homes in a fifth of local authority districts across the UK have increased in value by more than the average employee's annual wages over the past two years. The vast majority of these areas are in London, the South East and the East – 68 out of the 73.
“In eight local authority districts across the UK, the increase in house prices over the last two years have outstripped the amount someone would have typically earned over the period by more than £80,000.
“These price rises have made it much tougher for first-time buyers to get on the property ladder in areas where they are renting. Many tenants are stuck in a difficult cycle of saving just enough for a deposit, only to find that prices have risen out of their reach again.”
Rent Smart Wales - Landlords Watch Out
Immigration Act revised 2016 should a landlord or letting agent fail to ensure ALL tenants/occupiers have a righto reside for the duration of the tenancy then they may be fined £3000 for each breach. The Secretary of State may instruct the landlord to remove such persons without the need of a court order by way of reasonable force
Labour market enforcement - restriction on illegal migrants to work. A labour market enforcement undertaking (an “LME undertaking”) is an undertaking by the person giving it (the “subject”) to comply with any prohibitions, restrictions and requirements set out in the undertaking