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Student landlords target B&Bs to beat planning problems By Simon Thompson |
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Student landlords are cashing in on struggling bed & breakfast hotels as new letting properties.
Small hotels are facing a financial crisis as business dries up, forcing many to close.
But their properties offer student landlords several advantages - especially in council areas where planning permission is required for new houses in multiple occupation (HMOs):
• Bed & breakfasts already have use similar to an HMO, and although they are a different planning class, switching to an HMO does not involve the same issues as converting a home in a residential neighbourhood
• The properties generally already have fire safety measures installed
• Parking is not an issue unless the property is extended as use is already established
• Properties are generally located in town centres and close to good transport connections
One city where student landlords are cashing in on the financial problems of small hotels is Chester.
Two hotels on the city’s Hoole Road have been snapped up with a view to converting in to student housing.
Hoole Road is a main route in to the city centre and is lined with bed & breakfast accommodation.
Alton Lodge Hotel has applied for planning permission to provide 21 en suite student rooms with communal facilities.
English in Chester, a language school, is looking to convert The Glann Hotel, in to 10 bedrooms for adult students.
Although Chester City Council is seeking to tighten controls on HMOs, the local university is expanding at a fast rate and is appealing for local landlords to offer more accommodation for students.
For many landlords, the argument is that switching a hotel from a bed & breakfast to student accommodation is not a change that planners can easily reject - and is likely to be upheld by a planning inspector.
The alternative for areas with large numbers of small hotels is empty buildings lining the streets as businesses close. Owners tried for around two years to sell Glann Hotel without success and the language school was the only interested buyer when the property was entered in to an auction.
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Landlords warned - prepare for more regulation |
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Landlords in England are being warned that they should prepare for more regulation after the government published a consultation.
The warning comes from Tim Miles who is a partner at law firm Clarke Willmott.
He says that the Government is cons |
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Research reveals that 2017’s rents fell in real terms |
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The rents being paid to landlords in all parts of the UK fell in real terms during 2017, research suggests.
The findings from HomeLet reveal that rents in November rose by 0.7%.
That's the 11th straight month that rent increases have fallen beh |
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Rents for the UK’s rental properties rise by 2.1% |
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The average rent for a buy to let property grew by 2.1% in the year to September, an index has revealed.
The figures from HomeLet show that the average rent now being paid is £927 every month.
For landlords in London, rents rose by 1.9% o |
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Landlords start exiting the buy to let sector |
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One leading firm of letting agents is warning that buy to let investors are beginning to exit the sector.
The warning comes from Belvoir who say that while the numbers of landlords leaving is not huge, there is a trend appearing.
The firm's chi |
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Landlord confidence takes a knock |
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Despite the prospect of high yields and profitability, a survey has revealed the landlord confidence around the UK has fallen.
The findings from BM Solutions looked at all the key indicators for the second quarter of 2017.
They say that the lev |
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Landlords 'don't know what tenants want' |
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Landlords in the private rental sector are out of touch with their tenant’s wants and needs, according to new research.
The findings from an online letting agent revealed that tenants are clear most often about what they want and t |
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