Sweat Assets?

admin    Uncategorized     agents

My question is would it be better to release equity from your rental portfolio whenever the opportunity may arise or to leave it where it is?

If it is the latter then I guess there is a real risk that should the market crash

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Stamp duty refund via Limited Company?

admin    Uncategorized     agents

My hubby and I were unable to sell our residential property (1) before buying our new residential home (2) so we therefore paid an extra £11k in stamp duty because of the second home rule.

In the meantime we’ve rented out property (1).

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My Tenant Won’t Allow Access!

admin    Uncategorized     agents

Landlord’s Access to Property:

Many landlords will have experienced a tenant denying them access to a property – whether for an inspection, viewings or legal duties. It’s easy to understand the view of ‘It’s my property, I can enter when I want’, but unfortunately that’s just not the case.

When a tenant moves into your buy-to-let, they gain a fundamental right in English property law, what’s known as ‘quiet enjoyment’. This effectively means that they can deny access to anyone, including the landlord owner, the have what’s known as exclusive possession whilst they reside there.

Quiet enjoyment gives tenants the legal right to live in a property without interference from the landlord, or their representatives such as a letting agent. So, although you own the property, you cannot behave as a property owner with full access rights once a tenancy is granted.

As a landlord you’ll also need to be wary when attempting to gain access, as the Protection from Eviction Act 1977 protects tenants from harassment and unlawful eviction. Always ensure you give a minimum of 24 hours’ notice and receive written (email or text would be valid) confirmation from your tenant that they agree to the access, especially if they are not going to be present.

Many landlords and letting agents write into their tenancy agreements that access must be given, as long as they give 24 hours’ notice to the tenant. Whilst the minimum 24 hours’ is correct, this stipulation is unlawful.

Stating that access must be allowed for viewings or inspections directly contradicts a tenant’s right to quiet enjoyment. They can prohibit entry to the property. Another area to be wary of is prior permission for access. If a tenant has previously allowed a landlord or agent access, you could assume that this will always be the case. However, it’s not worth the risk if a tenant later objects to access so always ensure you are giving the required notice.

Tenants have busy lives too and it’s best to be considerate of their availability. Rather than stating that you will be visiting at a certain time, ask for a few dates and times that suit both of you. This shows respect to their home whilst allowing you to maintain your property.

If a tenant denies access for a legal requirement, such as a gas safety check or serious maintenance issue, there are ways to gain entrance. Firstly, explain to the tenant that you need access for legal reasons and this is for their protection as well.

If your tenant still denies access, you’ll need to get in touch with your local authority who will be able to serve an order on your tenant to allow access. Because of this potential scenario, it’s best to arrange and notify your tenant as early as possible when it comes to legal obligations.

This issue could become much more important going forward as any landlord needing to serve a section 21 notice may be stymied if access for gas checks and EPC re-assessments is denied – a valid Section 21 cannot be served without these current certificate being in place.

Viewings are a sore point. It’s important to a landlord to show a property to prospective tenants when the current tenant is leaving, but the tenant in situ is not legally required to allow this. This could lead to a dreaded void period if you are made to wait for the current tenant to leave.

Unless there’s been a severe communication breakdown, talk with your tenant to explain that the quicker you can get new tenants signed up, the quicker you’ll be out of their hair, to let them finish their tenancy and get their deposit back.

The most important thing to remember about access is that whilst this is your buy-to-let property, to a tenant it’s their home. Think how you would feel if someone wanted to access your property to carry out an inspection or bring viewers round?

Be respectful, communicate and be flexible when arranging access. Explain why you need access and don’t assume that you can enter whenever you please, you must have the tenant’s confirmation to avoid any tricky legal situations.

If you’re having difficulties with a tenant denying access, you can join the Upad Landlord Club and access free legal advice.

This article has been supplied to LandlordZONE® by online letting agents Upad

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – My Tenant Won’t Allow Access! | LandlordZONE.

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Nottingham Council follow up letter – Making 350 homeless

admin    Uncategorized     agents

Follow up letter to Nottingham City Councillors regarding disastrous Selective Licensing that will force me into making 350 people homeless

Dear Rav & John,

Regarding your letter dated 2 March 2018.

You say you are not sure if I’m aware

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What paperwork do I need if joint tenants break-up?

admin    Uncategorized     agents

My property is occupied by joint tenants who are about to break-up after 11 months of a 12 month AST agreement.

When visiting two weeks ago, one of the tenants told me that his partner had moved out and that he may want to leave if he and she decided that their differences were irreconcilable.

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RLA reveals new identity

admin    Uncategorized     agents

RLA’s new image:

The Residential Landlords Association today (Monday) reveals its new corporate identity, as the “home for landlords”.

For the last two decades the RLA brand has been synonymous with trusted information and advice, quality training and robust campaigning and research work.

Now, to coincide with the RLA’s 20th birthday, it has undergone a total rebrand to reflect the changing landscape of the private rented sector (PRS) and the dynamic attitudes of modern landlords.

While it may not look the same, the association will continue to offer all those services members have come to rely on and more, with a new conference programme and a range of 20th anniversary celebrations planned this year.

RLA chairman Alan Ward said:

“The RLA is a very different organisation from the one we launched 20 years ago and our original logo has served us well.

“Always innovative, we needed to
reflect the
modern values of
landlords and renting and
the new logo makes that statement emphatically.

“Our mission to advise, inform, educate, represent and protect our members remains unchanged.

“We’re extremely proud of how much the association has grown over recent years and we want to continue evolving and welcoming new members.”

Chief Executive Andrew Goodacre added:

“Our new identity is more than a rebrand, it is part of our aim to empower better landlords and change the perceptions of landlords in the mainstream media – an ongoing battle.

“We believe our powerful and contemporary new look will make us more approachable, more powerful in campaigning and more accessible to members, politicians and academics.”

• The Residential Landlords Association: The home for landlords
• The RLA represents the interests of landlords in the private rented sector across England and Wales. We’re home to over 50,000 landlords nationwide, with a combined portfolio of over a quarter of a million properties. A growing community of landlords who trust and rely on us to deliver day-to-day support, expert advice, government campaigning, plus a range of high-quality services relevant to their needs.
• At the RLA, we understand the challenges faced by a landlord – after all, we’ve been fighting their corner for over 20 years. Providing the expertise, support and tools they need, so they can do the right thing – for themselves, their tenants and the industry as a whole.
• We campaign to improve the private rented sector for both landlords and tenants, engaging with policymakers at all levels of Government.  Our vision is to make renting better for everyone involved in the private rented sector. We will go the extra mile to deliver an informed, better educated and more supported membership community.
• Further information about the RLA can be found at http://www.rla.org.uk/aboutus or by following it on twitter @RLA_News

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – RLA reveals new identity | LandlordZONE.

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JRF report is a missed opportunity to sort out Government’s mess

admin    Uncategorized     agents

The Joseph Rowntree Foundation (JRF) has once more commissioned work on ‘how to improve’ the private rented sector, using researchers from the Cambridge Centre for Housing and Planning Research. I have previously critiqued their work Click Here.

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Should I appeal Judge’s decision on renewal fees?

admin    Uncategorized     agents

I went to county court on Friday and the Judge at first said I had not submitted counter claim and that I would not be able to speak. I then told him where my counterclaim was on the papers submitted by the estate agent with my writing on it.

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Agents will need to check their landlords’ EPC ratings

admin    Uncategorized     agents

Find EPC Rating:

Checking out a rental property’s EPC rating is a relatively simply process that any agent or landlord can do instantly online. Providing the property has had an Energy Performance Assessment done within the last 10 years, (EPCs last for 10 years and usually cost between £70 and £100) the information is available from the MHCLG website – see below.

With the coming of the MEES (Minimum Energy Efficiency Standard) regulations in April, letting agents, and indeed landlords themselves, will need to make sure that a property is reaching a minimum energy efficiency standard of “E” before it is marketed to let.

New regulations coming into force this April 1 mean that residential landlords and their agents are obliged to ensure that their rental properties meet the required rating before a new or a replacement tenancy is granted, or otherwise they will face heavy penalties.

The penalty for renting out a property on a new or renewal tenancy for any period of fewer than three months will be in breach of the MEES Regulations and will be equivalent to 10% of the property’s rateable value, subject to a minimum penalty of £5,000 and a maximum of £50,000. After three months, the penalty rises to 20% of the rateable value, with a minimum penalty of £10,000 and a maximum of £150,000.

Also, in two years’ time, even with existing tenancies – 1 April, 2020 – it will become illegal for residential landlords to continue letting out a property if they have not addressed the issue of energy efficiency and ensured the property meets the minimum “E” EPC rating.

Another pressing reason for doing this is for mortgage renewals. Under the new mortgage regulations, underwriting standards for buy-to-let mortgage contracts, issued under the Bank of England’s Prudential Regulation Authority, new buy-to-let mortgages and renewals require proof that

Mortgage lenders granting new finance deals will typically require properties to be revalued. If single rental properties or properties in a landlord’s portfolio do not meet the minimum MEES standards after April, value could be affected would possibly result in mortgage applications being turned down.

Find the EPC rating for a property instantly online using the property address here

Guidance for landlords and Local Authorities on the minimum level of energy efficiency here

Underwriting standards for buy-to-let mortgage contracts here

New Energy Regulations could scupper mortgage renewals

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Agents will need to check their landlords’ EPC ratings | LandlordZONE.

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I am having to make 350 people homeless this year!

admin    Uncategorized     agents

Sajid Khan wants more houses building, but his other policies are forcing thousands to be homeless with Nottingham City Council’s Selective Licensing.

My Letter to Sajid Khan,

Dear Sajid

I am having to make 350 people homeless this year because of your decision to allow this Selective Licensing.

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