Tag: Rental Property

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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.