By Whilst waiting for the main debate to start at the National Landlord Investment Show at Olympia, I was looking around, thinking ‘this is a bit of a change from the original show in Croydon, May 16th 2013’.
Then it was called the Surrey Landlord Property Investment Show, becoming the London Landlord Investment Show the following year at Olympia, before finally becoming the National Landlord Investment Show in 2015 – again at Olympia.
There was another veteran of these shows on the panel with me, Richard Bowser from Property Investor News. You can see us both in the photograph, we’re the handsome ones!
And look what has changed since that inaugural show:
· Deregulation Act 2015 – amended deposit schemes, and the Section 21 process, among others.
· Finance Bill 2015 – introduced Section 24, restricting relief on interest paid.
· Finance Bill 2016 – applied 3% surcharge on stamp duty: abolished wear and tear allowance.
· Immigration Act 2016 – introduced Right to Rent Checks
· Minimum Energy Efficiency Rating (MEES) 2018 – restricted letting poorly rated properties.
· 2018 – N5b form substantially changed, used when going to court for a Section 21.
· Homes (Fit for Human Habitation) Act 2018 – allows tenants to apply direct to courts.
· 2019 – Letting Agents mandatory Client Money Protection Accounts.
· 2019 – Theresa May pledges to abolish Section 21.
· 2023 – Renters Reform Bill presented to Parliament.
No wonder it is critical for landlords, and agents to remain up to date by attending shows, and hopefully joining a landlord association.
As ever, the show was packed, with the presentations and panels well attended.
Our panel session was the first of the day, chaired by Ian Collins (talkTV). In addition to Richard and me, we also had Scott Marshall from Roma Finance and Mark Chick from Bishop & Sewell.
The theme was what 2024, and beyond will hold for landlords. The panel in general were optimistic, unlike some of the audience! We all agreed that it was imperative to treat landlording as a business, and to be always professional. It’s always been important to take time at the commencement of the tenancy, and with the proposed abolition of Section 21 and Fixed Terms, along with the ability for a tenant to give two months’ notice at any time, it is imperative to fully check prospective tenants – even if the property is empty. Better a few void days at the commencement, rather than months of arrears at the end.
As ever, there were a whole mix of talks and panel sessions during the day, and a plethora of information on the stands.
If you missed it, why? You can see the list of forthcoming shows here, and will be able to see highlights of this panel debate at Olympia please click here.
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