Tag: Housing Crisis

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Autumn Budget 2024: What property owners need to know

Autumn trees in a London Park

The recent Autumn Budget has brought several changes that could impact property owners.  Whether you’re a property developer, owner, or investor, the Autumn Budget has implications for your property portfolio.  

Here’s a breakdown of the key points and how they might affect you. By understanding these changes, you can make informed decisions to protect your assets and maximise their value. 

capital gains shake-up

The headline change for property owners is the increase in Capital Gains Tax rates. From October 2024, the higher rate jumps from 20% to 24%, potentially impacting your exit strategy timing. This could incentivise property owners to hold onto properties for longer. 

Social housing and affordable housing

The budget announced an increased investment in social and affordable housing. This could lead to more development projects. 

The government is injecting fresh energy into the housing market with a £500 million boost to the Affordable Homes Programme. They’re targeting 1.5 million new homes this Parliament, supported by: 

£3 billion in guarantees for SMEs and Build to Rent 

£46 million for planning authority capacity 

Focused regeneration in northern cities 

building safety investment

Building safety remains a priority, with remediation investment increasing to over £1 billion by 2025-26, particularly focused on social housing improvements. 

business rates relief

Some welcome news for commercial property owners – retail, hospitality, and leisure properties will receive 40% relief on business rates in 2025-26, capped at £110,000 per business. 

property guardianship: a smart solution

These changes create both challenges and opportunities. While increased CGT rates might affect sale timing, the broader investment in housing and planning could create new development opportunities.  

For those holding empty properties during this transition, property guardianship offers a practical solution to maintain security and generate income while navigating these changes. 

Property guardianship offers a range of benefits, including:

✓ Security: Guardians deter vandalism, theft, and squatting. 

✓ Maintenance: Guardians can help maintain the property and report any issues to us to resolve. 

✓ Community Enhancement: There are volunteer schemes in place for property guardians to give back to their communities such as the DEX Together initiative.  

If you would like to find out more about our Guardianship service, please get in touch here.  

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2024 Spring Budget: Addressing The Housing Crisis

Palace of Westminister

Chancellor Jeremy Hunt’s Spring 2024 budget announcement sparked various discussions on its implications for tackling the ongoing housing crisis, particularly in light of strategic investments and policy shifts. While the budget emphasizes measures aimed at stimulating economic growth and addressing various sectors’ needs, its impact on housing affordability and availability remains a focal point.

HOUSING INITIATIVES IN THE BUDGET

Amidst the broader strategies outlined in the budget, such as investments in key industries and tax reforms aimed at bolstering economic growth, the spotlight shines particularly brightly on housing initiatives. The allocation of £242 million to transform areas like Barking Riverside and Canary Wharf not only underscores the government’s commitment to addressing housing shortages but also serves as a tangible step towards revitalising communities and stimulating local economies. However, as the housing crisis persists nationwide, it becomes increasingly evident that conventional approaches alone may not suffice to alleviate the pressing challenges faced by individuals and families seeking affordable housing. In this context, innovative solutions emerge as indispensable tools in bridging the gap in the interim, ensuring that vulnerable populations are not left behind amidst the ongoing struggle for adequate housing.

PROPERTY GUARDIANSHIP AS AN INTERIM SOLUTION

Amidst the housing crisis, property guardianship emerges as a promising solution to repurpose vacant properties for affordable accommodation. This arrangement benefits both property owners and guardians, providing security and maintenance in exchange for living space. This solution efficiently utilises existing infrastructure, contributing to community revitalisation. While not a permanent fix, property guardianship offers a pragmatic approach to maximising available resources and meeting immediate housing needs. It fosters a sense of community among guardians, who often share common interests and values, promoting social cohesion. As policymakers and stakeholders seek innovative strategies to address the housing shortage, property guardianship stands out as a practical and sustainable approach to utilising existing infrastructure while providing affordable housing options for those in need.

ALIGNING WITH GOVERNMENT OBJECTIVES

Given the government’s objectives to stimulate economic activity and rejuvenate communities, as highlighted in the budget’s focus on strategic investments and economic forecasts, property guardianship emerges as a pivotal strategy. By safeguarding vacant properties, property guardianship directly contributes to community stability and actively mitigates the risks associated with derelict buildings. Additionally, the inherent flexibility of property guardianship offers a dynamic housing solution capable of adapting to evolving needs and market dynamics. In the face of the persistent housing crisis, which demands innovative approaches, property guardianship stands out as a compelling opportunity to effectively utilise underutilised spaces, thereby addressing critical housing needs while aligning with broader governmental goals for economic growth and community development.

While the budget outlines various measures to address the housing crisis, including investments in housing projects, tax reforms, and economic forecasts, it is clear that property guardianship stands out as a pragmatic interim solution. Leveraging existing infrastructure and providing affordable housing options, property guardianship significantly contributes to alleviating the strain on the housing market. Property guardianship remains a vital strategy to meet immediate housing needs and foster community development. To explore how guardianship and empty property management can play a role in alleviating housing pressures, get in contact with us. Let’s work together towards sustainable housing solutions for all.

Spring Budget 2024
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Thriving in 2024: Navigating a Changing Housing Market

Housing Crisis

In the dynamic realm of UK property, securing affordable and flexible housing solutions is paramount for residents. As we navigate through 2024 amidst a housing crisis, where renting is on the rise and property acquisition is becoming more challenging, it’s essential for individuals to maximise the potential of various unique living arrangements. Whether you’re already a property guardian or considering becoming one, here’s how you can thrive in the ever-evolving housing landscape while embracing co-living, sustainability, community engagement, and innovative design solutions.

EMBRACING CO-LIVING AND FLEXIBLE ARRANGEMENTS

In the midst of a nationwide housing crisis, property guardianship emerges as a beacon of affordability and adaptability, offering individuals the opportunity to reside in vacant properties at reduced costs while safeguarding them from potential risks such as vandalism and deterioration. Embrace the benefits of co-living and the flexibility it offers, allowing you to tailor your living space to your evolving needs and preferences. Stay updated on available properties with DEX by following us on Instagram for timely notifications and exciting opportunities.

maximising space with innovative solutions

As demand surges and investors aim to capitalise on the growing market, living spaces are becoming more compact. To maximise your living area, integrate innovative design solutions that enhance functionality and aesthetics. Explore inventive storage options, multifunctional furniture, and space-saving techniques to create a comfortable and efficient home environment. If uncertain about permissible modifications, please consult your guardian manager for guidance.

Sustainable living

In the face of budget considerations, sustainable living becomes not only a choice but a necessity. Reduce your environmental footprint by adopting eco-friendly practices within your living space, such as energy conservation and waste reduction. For example, embrace communal living by sharing meals and splitting bills or subscriptions with fellow guardians, fostering a sustainable and cost-effective lifestyle.

COMMUNITY ENGAGEMENT

Building on the foundation of sustainable living, one of the standout advantages of being a property guardian is the vibrant sense of community, especially in larger guardian properties. Undoubtedly, cultivating meaningful connections within your guardian community enhances your overall living experience. This can be achieved through active participation in communal events, engaging in shared activities, and contributing to a positive and supportive living environment. By nurturing a sense of belonging and camaraderie, you unlock the full potential of this distinctive living arrangement, enriching your life in myriad ways.

budgeting tips

Mastering the art of budgeting is a significant privilege that should not be overlooked. Effectively managing your finances can profoundly impact your quality of life. Creating a budget that aligns with your income and expenses is essential, and as a property guardian, you benefit from the affordability that guardianship can provide. Take advantage of this opportunity to explore budgeting strategies and enhance your financial literacy. This proactive approach is crucial for maintaining stability and achieving financial well-being, especially in the face of challenges posed by a challenging housing market.

2024 presents a wealth of opportunities for guardians to thrive amidst the housing crisis. By embracing flexibility, sustainability, community engagement, and innovative design solutions, guardians can make the most of their unique housing solutions while navigating the dynamic housing market with resilience and adaptability.

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Empty School Buildings Rise As Primary School Enrolment Drops By 16.6%

Primary school enrolment in England is projected to decline by 16.6% over the next decade, resulting in over 750,000 fewer pupils. However, in London, factors such as Brexit, Covid, and high housing costs are contributing to a migration trend, exacerbating the issue.

This surplus in school places creates a financial burden as schools receive funding based on the number of pupils rather than their capacity. According to the Department for Education, Lambeth is predicted to have the highest percentage of unused primary school places at 29.2% next year, with eight out of the top ten areas with the highest proportion of surplus places being London boroughs.

The decrease in pupil numbers is affecting not only state schools but also the approximately 2,600 Catholic schools in England and Wales. The number of Catholic schools has been decreasing dramatically in recent years due to a decline in the Catholic population, competition from other schools, and again, financial strains.

EMPTY SCHOOLS – A TARGET

Unfortunately, empty public buildings, such as schools, are attractive to vandals and squatters. They are often in central locations, with multiple access points and due to their commercial status, squatting in them isn’t considered a crime.  Should an empty school be targeted by squatters, owners face a very lengthy and costly court process to get control of the property back.

Some owners of empty schools board up the property, but since many are located in residential areas, this often doesn’t go down well with local residents. Not only do boarded up buildings look unsightly, they are often still susceptible to antisocial behaviour and dilapidation. In addition, as the UK goes through a cost of living and housing crisis, having large, empty, publicly funding buildings, clearly sitting empty doesn’t demonstrate efficacies in public spending.  

THE WIN WIN SOLUTION

However, there is one option that education providers are increasingly turning to, one that makes both economic and social sense – Property Guardianship. It’s an option that benefits not only the property owner, but also the local community and those in need of affordable accommodation.

Thanks to their good transport links and often central locations, schools are often sought after by property guardians. They often have large rooms and plenty of communal space, often even a garden or courtyard.  

On a practical level, schools are often well equipped for hosting property guardians thanks to built-in toilet facilities and kitchens. Any additional features such as showers can easily be fitted and DEX can typically have a building fit for guardians within just 10 days of conducting a site visit.  Should a school face a sudden closure, we can usually place an emergency guardian in the building within just 24 hours.

Guardianship also makes financial sense. Not only are property guardians provided at zero cost, in many cases owners make money back per guardian in situ – turning what would be a cost into a revenue stream. DEX are often able to get the property ready for guardians at no cost to the owner.  

READ CASESTUDY

the next steps

If you own an empty school, DEX Property Guardians can provide you with a cost-effective solution that mitigates the risk of vandalism and squatting. Our reliable Guardian security services offer peace of mind, allowing you to focus on new opportunities and even generate additional revenue streams.

Contact us today, and we can arrange to secure your property at no cost to you. Don’t let your unoccupied school become a target for threats – let DEX Property Guardians provide a practical and efficient solution.

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The Important Role Of DEX Reps In Our Houseshares

In order to keep our larger house shares running smoothly and harmoniously, we often place an experienced Property Guardian as our ‘DEX Rep’.

DEX Reps live in the property and act as a point of contact for their fellow guardians. They liaise closely with DEX’s Guardian Management Team, reporting any issues promptly and assisting with monthly inspections and viewings. Above all, they ensure the property is being well cared for, guardian guidelines are being followed and that the house has a welcoming and friendly atmosphere.

A Watchful Eye

DEX Reps are responsible for overseeing their fellow guardians and ensuring rules and regulations are being followed. They inform DEX promptly of any maintenance issues and help conduct regular property inspections. Their watchful eye helps ensure DEX properties are well-maintained and guardian guidelines are being adhered to.

Providing Access

As well as helping DEX in the maintenance and upkeep of the property DEX Reps also help provide access to the building. Should a client or contractor need to gain entry to the building, DEX Reps are on hand to facilitate. They also help DEX with viewings, showing new guardians around the property when they are thinking of joining the property guardian community.

Communication

DEX Rep’s provide a point of contact between DEX and their fellow property guardians. They liaise directly with the Guardian Management team reporting any maintenance issues promptly. This ensures that there are clear and effective communication channels between all parties helping to prevent any misunderstandings or conflicts.

Create a Sense of Community

DEX Reps are a point of contact for guardians in their building. They provide support and guidance to fellow guardians, ensuring they are comfortable and settled in their property. They help guardians connect and socialise with each other, often organising communal events, such as meals or film nights.

DEX Reps also help to resolve any issues or conflicts that may arise among the guardians, which help ensure a positive and supportive community within the houseshare.

Want to find out more about becoming a DEX Rep?

We are always looking to for more DEX Reps, so if you feel like you have what it takes to go that extra mile please get in contact with the Guardian Management Team today.
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Guardianship: Solving the Housing Crisis by Addressing Vacancy

Room with a desk and table

As the cost of housing increases, particularly in urban areas, many young professionals are really feeling the impact of the housing crisis, finding it increasingly difficult to find affordable and flexible housing solutions. On the other hand, owners of empty commercial and residential property worry about the soaring costs associated with maintaining vacant property while securing buildings against antisocial behaviour and squatters.

As a result, property guardianship is gaining popularity in cities across the UK, providing an innovative, win-win solution to both individuals and property owners alike.  

What is Property Guardianship

Property guardianship, is a housing arrangement where fully vetted individuals live in empty or unused properties for a small monthly fee, often much cheaper than market rent, in exchange for maintaining and securing the property.

A huge range of property types can be turned into great spaces for guardians to live and thrive in, even places you might not expect. Churches, old schools, police stations and care homes can make wonderful, unique living spaces, as do more traditional houses and flats that are waiting regeneration or development. Otherwise empty buildings get a new lease of life, while providing an affordable and flexible housing solution.

Property Guardians sign a licence agreement rather than a tenancy agreement, giving more flexibility on both sides. Guardians are entitled to the same legal protection as tenants in regard to health and safety, fire and HMO legislation but both parties can terminate the agreement with 28 days’ notice.

Guardianship – Part of The Housing crisis Solution

Guardianship won’t fix the whole housing crisis and it isn’t the right for everyone, but it can be part of the solution. It’s not for families or people looking for long term housing, but for many people the flexibility suits their lifestyle, especially in today’s society.

Guardians are part of a growing community and often enjoy the social connection of living with other like-minded individuals, something that is particularly beneficial for people who are new to a city or looking to make new friends. Property Guardians are always carefully and extensively vetted, resulting in a socially responsible, professional and trusted community.

Helping the wider community

In addition to providing affordable housing options, guardianship helps address the issue of vacant properties. In many cities, there are numerous empty buildings that are boarded up and left unused for extended periods of time. Not only is this an eye sore for the local community, it can lead to a range of issues, such as vandalism, deterioration and squatters.

By allowing trusted property guardians to live in these empty properties, landlords can keep them occupied and secure, which can help to prevent these issues from occurring, positively impacting the local neighbourhood.

Next steps...

The team at DEX Property Management are here to guide you through the process of securing empty property through guardianship. Click below to find out how guardians could be securing your property within 10 days, often free of charge.

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