The ongoing progress of the Renters Reform Bill has finally moved across to the House of Lords, after months of ‘horse trading’ between the government and organisations representing landlord and tenant interests.
It should come as no surprise that concessions have been made which do not meet with widespread approval, on either side, but it would appear that the Bill is likely to be finally approved in the upcoming months. The most contentious part is of course the abolition of the Section 21 notice, widely referred to by the likes of Shelter as the ‘no fault’ eviction notice. However, as explained by Richard Blanco on page 32, this will only take place after a review of the court system which adjudicate on property possession cases.
Our lead article on page 14, looks at how technology advancement is now enabling us all to do desktop research on locations and potential investment property, before we leave home to do a viewing. With artificial intelligence (A.I.) in particular advancing rapidly, those who ignore its implications and the opportunities it presents, could well be losing out to those who keep an open mind.
On page 19, you can read this month’s investor interview about a Cambridge based family led by Sam and Stephen Carter, who take ongoing learning quite seriously and then put that to good effect with their growing portfolio of properties.
Anyone who has attended any of my event talks in recent years, will be aware that I have consistently said that treating property as a business and not a hobby is now essential to meet the challenges of the rapidly changing market. On page 26, I am pleased to see that our regular columnist Adam Lawrence is of the same opinion.
Without question there is one major sector where genuine opportunity exists in 2024 to buy property, at what is arguably the bottom of the cycle and that is of course the commercial property market. Advances in the use of technology is transforming the way we buy goods and services online and how and where we conduct office-related work. On page 28, Suzi Carter explains more.
Technology advances have also transformed the property auction sector, with live in-room auctions becoming ever rarer, a trend which myself and many others regret, as we value face to face contact and networking.
The recent event that Piotr Rusinek refers to in his article on page 42, underlines the value of having high quality live events, but those working within the main auctioneers and who have to justify the annual outlay for expensive hotel ballrooms, have a firm eye on the obvious cost savings using online technology to hold their property auctions.
