Comment from Danielle Cullen, Managing Director of StudentTenant.com and ClickTenant.com:
“Yet more crippling announcements by the Chancellor for private landlords - with the introduction of 100% council tax now for all empty properties. Landlords have been completely paralyzed by Conservative announcements recently, with the UK moving down 10 places in the list of best European countries to invest in BTL property in recent months.
“We’re also still no more informed on the tenant lettings fee ban, which is also set to increase rental costs for landlords, as many agents have outlined they will have to pass over the costs.
“I really must stress though, that where possible landlords should not be discouraged from investing, or continuing to rent their properties in the UK. Parliamentary changes are reducing yields, but savings can be made elsewhere to maintain them.
“Technology was a huge focus in Hammond’s Autumn Budget today where he described the UK as ‘on the brink of a technological revolution’. Landlords MUST be utilising new technologically advanced platforms to reduce costs. Prop-tech is a massively growing industry and landlords need to become accustomed to using technology to make the lettings process more efficient and cost-effective.”