BREAKING NEWS – 5 top stories 08/01/2020
PROPERTY CLADDING SCANDAL CRISIS GROWS
Yesterday there was joy with Leasehold reforms moving forward, which would free up homeowners living in properties that had become tainted and hard to sell, and of course meant ratcheting costs.
But there seems no end to the chaos caused by the external cladding debacle which has left around 900,000 plus homeowners unable to sell, and a large number to re-mortgage and take advantage of lower repayments.
Add to this the need for many to move from high level flat to traditional two up to down with a garden, as WFH looks set to stay, and again housing which is supposed to be a castle is turning into a prison.
The inability to get the necessary sign off on properties that will satisfy lenders, either through shortage of trained staff, covid-19, or lenders being less than helpful, classifying tiny wooden balconies on properties with no external cladding as un-mortgable has just heaped on the pain.
PARTIAL LOCKDOWN 3.0 AND SDLT HOLIDAY A PERFECT STORM
An industry source has said that the latest government inniative regarding the pandemic, is going to make the physical moving of sellers and buyer’s an impossible logistical hazard. In that although the property industry is open for business, March 2021 is likely to see a peak flow of completions.
Which will mean that the infrastructure to move a large number of people in a safe manner against a backdrop of a pandemic, in three or four peak weeks – even if we are out of Lockdown 3.0 is not on.
WILL UNDERGRADUATES BECOME BAD TENANTS?
The pandemic has hit many sectors in the property vertical, but the University undergraduates who are now not able to physically go to lectures for a month and a half at best, are now beginning to form action groups – designed not to pay rent.
On their call-to-action website under the catchy slogan ‘Does my university have a rent strike and how do I get involved’ there are listed twenty-eight universities who seem to be part of the movement, and the number is growing daily.
COHO NEW COLIVING SOFTWARE SOLUTION LAUNCHES
Founder Vann Vogstad, a serial entrepreneur, and an evangelist on the concept of coliving, aims to help property professionals to not only administer their rental portfolios more efficiently with modern tools such as AI technology, but also enables people to find compatible housemates.
Vann explains, “COVID has hugely accelerated the evolution of the private rental sector. With changing economics many new people are looking to HMOs for affordable living, but do not want to forego quality, and definitely don’t want to feel they live with people they don’t get on with.”
“COHO helps property investors and managers remove much of the admin effort from running a shared house, whilst helping get a home of compatible housemates, and offering a great user experience all around.”
The new management platform carries all the smart tools expected by the modern digital user, including, automatic listing of available rooms in a property to the leading tenant-find marketplaces. Unified and organized messaging to keep track of all communications within your property portfolio including the tracking of service and maintenance tasks.
Automation of important tasks with timely reminders to ensure compliance with the latest regulations. Over 25 services to date simplifying property management including rent tracking & collection, and digital signing of important documents.
BREXIT AND HOUSE PRICES
In less troubled times journalists would be covering the affect of leaving the EU, and what this means for housing and house prices, the fact that there is zero focus on blighty waving goodbye to the European states, shows sadly how deeply we are in a dark hole, where the usual considerations are whisked away by the boyish sweep of an overlong fringe, as Boris daily returns to the rostrum.
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