{"id":2914,"date":"2017-06-19T07:00:31","date_gmt":"2017-06-19T06:00:31","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2914"},"modified":"2017-06-19T07:00:31","modified_gmt":"2017-06-19T06:00:31","slug":"london-highest-landlord-costs-uk","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/06\/19\/london-highest-landlord-costs-uk\/","title":{"rendered":"London has highest landlord costs in UK"},"content":{"rendered":"<p><strong>London has now been named as the most expensive part of the UK to be a landlord whilst England\u2019s North East has been located as the cheapest area, a new research found.<\/strong> <\/p>\n<p>Specialist lender Kent Reliance put the research together and found out that the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/22\/majority-uks-landlords-tenants-like\/\" target>average landlord<\/a> in London pays \u00a36,535 a year, or 32% in rental income. This number excludes any mortgage and tax but includes any void periods. <\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"6uwIMvkteT\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/25\/right-woman-job-rise-female-landlord-infographic\/\">The right woman for the job? The rise of the female landlord. [Infographic]<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;The right woman for the job? The rise of the female landlord. [Infographic]&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/25\/right-woman-job-rise-female-landlord-infographic\/embed\/#?secret=QZlJzWjlMh#?secret=6uwIMvkteT\" data-secret=\"6uwIMvkteT\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Nationally, the average cost for a landlord sits at \u00a33,632 per year, which is still a fairly big chunk of their income as it equates with 34% of incoming rent, due to average rents being lower than in the capital. <\/p>\n<p>In the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/16\/property-investment-england-focus-south-east\/\" target>South East<\/a>, landlord costs average at \u00a33,691 or 37% of their rental income and in England\u2019s East costs sit at \u00a33,212 or 35%. <\/p>\n<p>In the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/11\/property-investment-england-focus-north-east\/\" target>North East<\/a> the average cost for a landlord every year amounts to \u00a31,895, which is still 34% of their rental income. <\/p>\n<p>Furthermore, the report also suggests that landlords might be looking into ways to cut costs, especially after increasing tax burdens due to stamp duty changes and mortgage tax relief changes. Most landlords said they were looking at <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/22\/will-landlords-ditch-letting-agents-tax-cuts\/\" target>letting agent fees<\/a>, property maintenance and  mortgage costs to reduce costs whilst one in five also admitted they are thinking about raising rents to balance some of the costs. <\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"YLyhrKtybZ\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/06\/13\/private-rented-sector-forecast-grow-24-2021\/\">Private Rented Sector forecast to grow by 24% by 2021<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Private Rented Sector forecast to grow by 24% by 2021&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/06\/13\/private-rented-sector-forecast-grow-24-2021\/embed\/#?secret=IkujCMXoBe#?secret=YLyhrKtybZ\" data-secret=\"YLyhrKtybZ\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>According to John Eastgate from OneSavings Bank, landlords play a central role in supporting today\u2019s housing market as one in five households live in rental accommodation. <\/p>\n<p>\u201cWhile taxes may seem to be a simple way to tackle the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/20\/uk-property-markets-current-state-overview\/\" target>UK\u2019s housing crisis<\/a>, they will have a ripple effect, and will impact businesses who support the property industry as landlords apply cost cutting measures, or cause rents to rise as tenants cover the cost of rising taxes, or even both,\u201d he said.<\/p>\n<blockquote><p>\u201cAnother effect that will emerge is a rise in professionalisation of the sector as amateur and accidental landlords leave the market, leaving fewer, bigger landlords. But this alone will not solve the nation\u2019s housing crisis.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>London has now been named as the most expensive part of the UK to be a landlord whilst England\u2019s North East has been located as the cheapest area, a new research found. Specialist lender Kent Reliance put the research together and found out that the average landlord in London pays \u00a36,535 a year, or 32%<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/06\/19\/london-highest-landlord-costs-uk\/\" title=\"ReadLondon has highest landlord costs in UK\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,12],"tags":[29,11,60],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2914"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=2914"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/4300"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=2914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=2914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=2914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}