Significantly less rental stock coming on to the market as PRS feels the presure

admin    Uncategorized     agents

The results of Belvoir’s Q4 rental index, and a survey of landlord trends, confirm that significantly less stock is coming on to the market, putting further pressure on the PRS. From a tenant’s perspective, the good news is that tenancy lengths are naturally increasing

The post Significantly less rental stock coming on to the market as PRS feels the presure appeared first on Property118.

View Full Article: Significantly less rental stock coming on to the market as PRS feels the presure

Eviction under a Periodic Tenancy?

admin    Uncategorized     agents

My tenant since 2010 has refused to sign an AST tenancy agreement since May 2014.

She gave me notice that she wanted to move out in Oct 2015, but when I went to do the checkout (17.12.15) she refused to move out as I said I couldn’t give her her deposit back there and then in cash as is held on the DPS

The post Eviction under a Periodic Tenancy? appeared first on Property118.

View Full Article: Eviction under a Periodic Tenancy?

New rules on Gas Safety Checks give more flexibility

admin    Uncategorized     agents

Gas Safety Checks:

Similar the car MOT, where the test can be done ahead of time, while retaining the existing renewal date, landlord gas checks will now be allowed on the same basis, up to 2 months ahead of time.

The idea behind the move is to prevent landlords falling foul of the law when they experience difficulties arranging access to the property and the gas appliances. Landlords and agents, after April 2018, will be in a position to start the process early and have a valid test certificate in place before the old one runs out without affecting the renewal dates.

Failure to comply with the gas and other safety standards in rented properties render landlords open to heavy fines and even prison if things go wrong. So some relaxation in the timing of the rules will be welcomed by landlords, but any transgressions are likely to be less tolerated by the enforcement agencies, including local authorities and the Health & Safety Executive (HSE).

The new Gas Safety (Installation and Use) (Amendment) Regulations 2018 are due to come into force on 6 April 2018, amending those in force since 1998. The HSE say they are not aimed at reducing or relaxing safety standards, but to allow greater flexibility over when regular checks are being carried out.

Landlords often experience difficulties arranging inspections, checks and servicing of gas systems and appliances, and complying with the law when tenants are either reluctant to allow access or they themselves find it difficult when the need to take time off work to be present. Another difficulty landlords have is when the engineer turns up and is unable to gain access. This involves costs which all parties are reluctant to pay.

Landlords cannot force access without their tenant’s cooperation, so through no fault of their own, they may be put in a position where they are breaking the law. The new system is designed to give landlords, agents and tenants more time to comply.

The new rules aim to address situations where landlords may be forced into making last minute checks, being unable able to arrange access at short notice, or having the expense of shortening the annual gas check cycle to comply with the law.

The Health & Safety Executive says:

Main changes to the legislation

The changes to GSIUR, which do not relax regulatory requirements or reduce safety standards, are to:

• introduce of a degree of flexibility to the timing of landlords’ annual gas safety checks. This MOT-style change means that landlords can carry out the annual gas safety check in the two months before the due date and retain the existing expiry date. This avoids landlords waiting until the last minute and not gaining access, or having to shorten the annual cycle check to comply with the law. There is no change to the legal requirement for an annual gas safety check or for maintenance to be carried out
• incorporate an existing exemption into law to carry out alternative checks in situations where there is no meter to directly measure the heat input and it is not possible to measure the operating pressure, and extend the scope slightly to include situations where the meter is not accessible or the meter display is not working
• disapply most of the requirements of GSIUR for installations fed by a dedicated gas supply, which are primarily used to supply compressed natural gas (CNG) to vehicles and which incorporate at least one gas compressor with an electric motor input power rating exceeding 5 kilowatts, bringing them in line with other industrial premises. Other more appropriate regulations already apply to these premises

Gas Safe Register Tips on Gas Safety in Rental Property:

1. Have all gas appliances in your rental property safety must be checked annually by a Gas Safe registered engineer. As part of any safety check ensure that the engineer carries out a tightness test of the pipework to ensure there are no gas leaks, and a visual inspection of accessible gas pipework should also be completed to ensure the installation is in good condition.
2. Find or check a Gas Safe registered engineer in your areausing our online search or call on 0800 408 5500.
3. Make sure you ask to see your engineer’s Gas Safe Register IDcard both front and back. The front will confirm their registration and identity, the back will confirm they can do the gas work you’ve employed them to do.
4. Stay aware of the symptoms of carbon monoxide poisoning– headaches, dizziness, nausea, breathlessness, collapse and loss of consciousness and make sure you comply with the law by providing a carbon monoxide monitor in any room with a solid fuel appliance, and ideally any room with a gas burning appliance.
5. Look out for warning signs that a gas appliance isn’t working properly– lazy yellow flames, excessive condensation and black marks/stains. However, gas appliances can be unsafe without displaying these symptoms.
6. Buy audible carbon monoxide alarmsand install (in accordance with manufacturer’s guidelines) near to gas appliances, and it is a legal requirement in rental property to have these near solid fuel burning appliances. Alarms are a strong second line of defence against carbon monoxide poisoning.
7. Use gas appliances for their intended purposes only, e.g. cookers should not be used to heat a room.
8. Provide enough ventilation for gas appliances to burn correctlyand make sure no air vents or chimneys are blocked.
9. If you know of anyone doing gas work outside of Gas Safe registration, they are breaking the law.You can report them to us online or contact us on the consumer helpline above.
10. Make sure you always have in place and supply your tenants with a copy of a current annual gas safety check certificate, at the start and during every tenancy – find out more about renting a property.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – New rules on Gas Safety Checks give more flexibility | LandlordZONE.

View Full Article: New rules on Gas Safety Checks give more flexibility

Replies to my critique of Economist BTL article

admin    Uncategorized     agents

Regular subscribers to this site may have seen my critique of the Economist article on buy-to-let. Click Here to view original article. What follows is my reply to the reply by Tom Wainwright, their Britain Editor. I am still waiting for their next reply.

The post Replies to my critique of Economist BTL article appeared first on Property118.

View Full Article: Replies to my critique of Economist BTL article

Another Council Abandons Selective Licencing Proposals

admin    Uncategorized     agents

Only a few weeks ago we heard the Telford and Wrekin Council had abandoned their proposals for Selective Licensing of landlords due to overwhelming feedback advising against it.

Clearly these Councils can be persuaded against the introduction of Selective Licensing if enough people take the time and effort to explain the alternatives.

The post Another Council Abandons Selective Licencing Proposals appeared first on Property118.

View Full Article: Another Council Abandons Selective Licencing Proposals

Landlord Law Conference 2018 – the easy way to get up to date with the law

admin    Uncategorized     agents

Landlord Law:

As you will know if you have been reading the LandlordZONE® news postings – there are going to be quite a few legal changes this year.  And that following on from several years when we have had a succession of new rules and procedures – and new penalties!

It’s not surprising that landlords are feeling bemused by it all.  How can you possibly keep up?

One solution is the Landlord Law Conference, sponsored by TDS.  It’s a serious training event with ten talks from property professionals and legal specialists on important topics – but it’s also a really good day out!

So, you can listen to talks explaining about how to avoid problems with section 21, or rent to rent, or dealing with your deposit disputes – and also have a great time networking with other landlords and letting agents and chatting to the speakers and exhibitors. Not to mention the hot buffet sit down lunch!

The Conference is an annual event and this year we are going back to Sprowston Manor Hotel & Country Club as it proved such a great venue last year.  It may be a little off the beaten track, just outside Norwich, but Norwich is only two hours away from London by train, or if you want to drive, the venue has free parking!

If you are at a distance – why not stay over for a few days?  Norfolk is a fantastic place to visit plus the hotel has its own golf course, swimming pool and spa, as well as two restaurants and bars.

People love the Conference.  It is a very friendly event.  If you attend you will come away feeling uplifted and full of confidence about the law and what you need to do to be compliant (and also where to go to find out more).  Plus you will have the Conference Handbook with detailed speakers notes to help you remember it all.

So, what are the Conference details?

The Conference in a Nutshell:

Date: 18 May 2018

Venue: The Sprowston Manor Hotel & Country Club just outside Norwich

Price: £216 (£180 + VAT) per person (discounts available for bulk bookings)

Price includes:

• Attendance for 10 x 30 minute talks (giving you 5 hours CPD),
• Welcome refreshments on arrival and in the morning and afternoon comfort breaks
• Sit down hot buffet lunch  (most special diets catered for)
• Free wi fi
• Free parking at the venue
• Conference handbook with speakers notes

For more information visit www.landlordlawconference.co.uk

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlord Law Conference 2018 – the easy way to get up to date with the law | LandlordZONE.

View Full Article: Landlord Law Conference 2018 – the easy way to get up to date with the law

Temporarily Switch Residential Home to BTL

admin    Uncategorized     agents

We’re buying a new home to live in ourselves & have therefore been trying to sell our current main home. This is taking longer than we wanted and we’re on a timeline as the builders for the new home set the exchange and completion dates according to their build schedule.

The post Temporarily Switch Residential Home to BTL appeared first on Property118.

View Full Article: Temporarily Switch Residential Home to BTL

Scottish letting market reacts to new tenancy laws with rent increases

admin    Uncategorized     agents

Rent Increases:

Rent costs in Scotland have rocketed in January following the introduction of new tenancy laws last December 1^st.

According to ARLA Propertymark research, around half (44 per cent) of Scottish tenants have seen their rents increase in January, a figure that contrasts sharply with the national average of increases affecting around just one-fifth (19%) of tenants.

These findings from ARLA Propertymark’s network of letting agents in Scotland come following the introduction of the new Private Rented (Tenancies) (Scotland) Act on 1st December 2017.

The letting agents’ professional body says that this highlights “a market reaction to indefinite tenancies and the potential for rent controls.”

David Cox, Chief Executive, ARLA Propertymark says:

“Rent controls have a history of dramatically deteriorating property conditions as landlords struggle to meet mortgage payments in addition to maintenance costs. However, it seems the very idea of these controls – and open-ended tenancies – is now affecting rent prices for tenants; in anticipation, landlords are raising rents to make sure they can make ends meet, should they be introduced.

“It’s now been two full months since this form of new Private Residential Tenancy came into force in Scotland and while in December, just over a third (36 per cent) of agents witnessed rent hikes, January’s results show a much larger swing. For the sake of the Scottish rental sector we hope this isn’t a growing trend, but while rent controls are on the agenda, it’s just a waiting game to gauge how the market reacts”

[1] Opinium Research carried out an online survey among 361 ARLA members, from 1st – 8th February 2018. ARLA Propertymark Protected letting agents were surveyed on a number of key rental sector issues including supply and demand, the management of BTL properties, and monthly

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Scottish letting market reacts to new tenancy laws with rent increases | LandlordZONE.

View Full Article: Scottish letting market reacts to new tenancy laws with rent increases

Scottish letting market reacts to new tenancies laws with rent increases

admin    Uncategorized     agents

Rent Increases:

Rent costs in Scotland have rocketed in January following the introduction of new tenancy laws last December 1^st.

According to ARLA Propertymark research, around half (44 per cent) of Scottish tenants have seen their rents increase in January, a figure that contrasts sharply with the national average of increases affecting around just one-fifth (19%) of tenants.

These findings from ARLA Propertymark’s network of letting agents in Scotland come following the introduction of the new Private Rented (Tenancies) (Scotland) Act on 1st December 2017.

The letting agents’ professional body says that this highlights “a market reaction to indefinite tenancies and the potential for rent controls.”

David Cox, Chief Executive, ARLA Propertymark says:

“Rent controls have a history of dramatically deteriorating property conditions as landlords struggle to meet mortgage payments in addition to maintenance costs. However, it seems the very idea of these controls – and open-ended tenancies – is now affecting rent prices for tenants; in anticipation, landlords are raising rents to make sure they can make ends meet, should they be introduced.

“It’s now been two full months since this form of new Private Residential Tenancy came into force in Scotland and while in December, just over a third (36 per cent) of agents witnessed rent hikes, January’s results show a much larger swing. For the sake of the Scottish rental sector we hope this isn’t a growing trend, but while rent controls are on the agenda, it’s just a waiting game to gauge how the market reacts”

[1] Opinium Research carried out an online survey among 361 ARLA members, from 1st – 8th February 2018. ARLA Propertymark Protected letting agents were surveyed on a number of key rental sector issues including supply and demand, the management of BTL properties, and monthly

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Scottish letting market reacts to new tenancies laws with rent increases | LandlordZONE.

View Full Article: Scottish letting market reacts to new tenancies laws with rent increases

CGT base cost on selling part of the garden?

admin    Uncategorized     agents

As an accountant I know the Capital Gains rules regarding selling a BLT property that you once lived in.

However, has any one got any advise on the rules in selling part of the garden of a house you once lived in.

The post CGT base cost on selling part of the garden? appeared first on Property118.

View Full Article: CGT base cost on selling part of the garden?