As the year draws to a close, we look back at 2024’s hot topics and ahead to what we’ll see in 2025...
2024
Profit
Recovery from the 2022 Mini Budget has been protracted. Mortgage rates have come down, but costs still stack up. However, property investment remains very profitable, especially when using Orchards as your agent – we’re top of the 2024 leaderboard for both listings and agreed lets!
Compliance
Compliance is as important as ever, with an increasing list of rules and regulations for landlords. It comes hand in hand with maintenance; if you aren’t maintaining your property, you’re risking fines, even imprisonment. We dot i’s and cross t’s without fail, and we have an in-house maintenance department for fast, effective repairs.
Renters’ Rights Bill
The Bill is yet to pass, but we’ve been gearing up for a while. A landlord database is on the cards, as are strengthened rights to have pets, plus the well-publicised abolition of Section 21 evictions. We keep our landlords in the loop and fully informed of any updates, while helping them adapt to upcoming changes.
2025
Stamp Duty
Extra Stamp Duty on additional homes was raised in the 2024 Autumn Budget. This will affect profits on new purchases, but look beyond initial costs to regular income and long-term capital – and use an agent that will protect your investment.
Awaab’s Law
Awaab’s Law will soon extend to the private rented sector. Landlords will be set clear expectations on what action to take and when to ensure safe homes for tenants. By staying on top of maintenance, you’re already one step ahead.
Reform
Whether lettings or leasehold, industry reform focuses on transparency, fairness and safety. We’ll be ready for any developments, and on hand for any advice our landlords need.
