Call of the Week: Extension of Deregulation Act and Section 21

admin    Uncategorized     agents

On the 1st October 2018, the Deregulation Act is set to be extended, which will mean that ALL landlords will be required to provide their tenants with the ‘prescribed documents’ no matter when the tenancy started. At present, under the Deregulation Act, all landlord with a tenancy agreement in place which began after October 2015 […]

The post Call of the Week: Extension of Deregulation Act and Section 21 appeared first on RLA Campaigns and News Centre.

View Full Article: Call of the Week: Extension of Deregulation Act and Section 21

Why Tenancy Deposit Protection needs to stay

admin    Uncategorized     agents

Steve Harriott, Chief Executive of the Tenancy Deposit Scheme

In the last week we have seen Which? publish a report that cast doubts about tenancy deposit protection. If its recommendations were implemented there is a very real possibility that the consumer protection for tenants might end up being worsened.

The post Why Tenancy Deposit Protection needs to stay appeared first on Property118.

View Full Article: Why Tenancy Deposit Protection needs to stay

Scottish rental reforms put future Edinburgh Festivals at risk

admin    Uncategorized     agents

The Scottish Government’s private rental reforms are shaking up the sector according to new data, which reveals rental property sales have outstripped purchases five-fold in the last three months.

Findings from the National Landlords Association (NLA) show that almost a quarter (24 per cent) of landlords with property in Scotland have sold over the last three months

The post Scottish rental reforms put future Edinburgh Festivals at risk appeared first on Property118.

View Full Article: Scottish rental reforms put future Edinburgh Festivals at risk

Tampered energy meters risk millions of lives

admin    Uncategorized     agents

Almost three million UK households could be at risk of potentially fatal fires, electric shocks and even street-wide gas explosions caused by an undetected energy meter tamper.

The figures come from new research, which revealed that 14% of UK residents have encountered the signs of a tampered energy meter in person;

The post Tampered energy meters risk millions of lives appeared first on Property118.

View Full Article: Tampered energy meters risk millions of lives

Boris Duty?

admin    Uncategorized     agents

In his weekly Monday Column for the Daily Telegraph, Boris Johnson, has told Theresa May slash the absurdly high Stamp Duty (SDLT) tax rates and abandon affordable housing targets.

Boris indicated he thought the housing market is the single biggest and most urgent crisis we face and would lead to an impending crisis of capitalism.

The post Boris Duty? appeared first on Property118.

View Full Article: Boris Duty?

Will Landlords have to test smoke alarms?

admin    Uncategorized     agents

Does a new court ruling in reference to smoke alarms mean that smoke alarms inside a property will have to be tested by Landlords?

“Landlord Terry Millis, 63, admitted that he put the lives of five residents at risk and pleaded guilty to two counts of failing to comply with requirements to prevent the risk of fire.

The post Will Landlords have to test smoke alarms? appeared first on Property118.

View Full Article: Will Landlords have to test smoke alarms?

Just incorporated – Now can’t sell for 6 months?

admin    Uncategorized     agents

So, you have just incorporated your properties. Now you want to sell one of them. A buyer has been found, then, at the last minute, the buyer has been refused a mortgage.

A seemly arbitrary and little known rule common to all mortgage lenders is if a property that is to be mortgaged has not been owned by a property company in excess of 6 months

The post Just incorporated – Now can’t sell for 6 months? appeared first on Property118.

View Full Article: Just incorporated – Now can’t sell for 6 months?

The IRRV Severnside and South West Association enforcement forum

admin    Uncategorized     agents

On 10th and 11th September we are sponsoring the IRRV Severnside and South West Association enforcement forums alongside Excel Civil Enforcement.

10th September – The Aztec Hotel in Bristol

11th September – The Mercure Southgate Hotel

The post The IRRV Severnside and South West Association enforcement forum appeared first on Property118.

View Full Article: The IRRV Severnside and South West Association enforcement forum

Protecting property and land

admin    Uncategorized     agents

With the summer months meaning an increase in travellers moving from place to place we thought we’d look at how you can protect both property and land from unwelcome visitors.

Secure doors and windows

It will be worth considering installing steel security doors and looking at how you can also best secure all entrances such as windows.

The post Protecting property and land appeared first on Property118.

View Full Article: Protecting property and land

House of Fraser has settled a crucial legal challenge over CVA terms

admin    Uncategorized     agents

Insolvency:

Up-market national retailing chain House of Fraser (HF) has settled a contentious legal dispute with a group of its landlords that challenged the company over the terms of its restructuring vehicle, known within the industry as a Company Voluntary Arrangements (CVA).

A CVA is an insolvency procedure, similar to the personal IVA (individual voluntary arrangement). It allows a company with debt problems to reach a voluntary agreement with its business creditors. However, for some time now landlords have seen this legal procure as being abused by some occupiers, using it as a means of conveniently getting themselves out of lease contracts.

In a statement issued last week and reported by CoStar Marketing Group, House of Fraser had said:

“House of Fraser is focused on concluding discussions with interested investors as per the original timelines set out by the business and recognising the risks in and around this litigation has entered into this settlement now to remove any risk to those discussions presented by this legal process.�

The group of landlords which owns stores occupied by House of Fraser throughout the UK claimed that they were “unfairly prejudiced� and that there had been alleged “material irregularities in the implementation of House of Fraser’s CVA�.

The restructuring plan proposed the closure of 31 of its 59 department stores, including its flagship Oxford Street store in London, as well as major stores in Edinburgh, Birmingham, Cardiff, with the loss of around 6,000 jobs.

The group of landlords bringing the legal challenge to the process had said that, “Although we will not have our day in court, we are pleased with the outcome and hope that our landmark legal challenge sends a clear message to any other companies considering a CVA.

The landlords claimed that they were willing to enter into negotiations with HF but that the HF CVA process “misused and prejudiced” the landlords. They said that CVAs were designed to rescue a business, “not simply a tool to shed undesirable leases for the benefit of equity shareholders.â€�

“…We believe that thanks to our actions, landlords in future CVAs will be in a far stronger position to challenge what we regard as unfair treatment and demand greater transparency from companies and their nominees from the outset,� said a spokesperson for the landlord group.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – House of Fraser has settled a crucial legal challenge over CVA terms | LandlordZONE.

View Full Article: House of Fraser has settled a crucial legal challenge over CVA terms