Social Security Advisory Committee consultation on Universal Credit and next steps for managed migration- RLA response

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The RLA has submitted its response to the Social Security Advisory Committee consultation, on Universal Credit and next steps for managed migration. The response, which you can read here outlines the impact that Universal Credit has had on landlords in the private rented sector. Want to find out more about welfare reform? Come along to our […]

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Rented Housing Chief to Address Landlord Conference

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Landlord Conference:

THE Government’s lead civil servant for private rented housing will address the Residential Landlords Association’s (RLA) Future Renting conference to be held in the Sherfield Building, Imperial College London, Exhibition Road, London SW7 2AZ in London next month – Thursday, 13th September.

As Deputy Director the Private Rented Sector in the Ministry of Housing, Anne Frost has overall responsibility for forming and implementing government policy and feeding opinion from stakeholders, including landlords, back to Government ministers.

The event, on 13th September, will be hosted by LBC Radio’s Clive Bull, award-winning presenter of the Property Hour.

Anne will be joined at the conference by Karen Buck MP, whose Homes (Fitness) For Human Habitation Bill is currently passing through Parliament and the Property Ombudsman, Katrine Sporle.

Other speakers include the property expert, Kate Faulkner, who will be delivering a session on market prospects and Richard Tacagni of London Property Licensing who will give delegates the lowdown on local licensing schemes.

The conference is open to all landlords from those with just one property to those with larger portfolios, letting agency owners, local authority councillors and officers, journalists, and housing charities.

John Stewart, RLA policy manager said:

“The wide range of speakers at the conference, particularly the Government’s lead official on private rented housing, will offer insight into what MHCLG is thinking and possible legislative changes. It will be an important opportunity for landlords and agents to ask questions and share their views on the considerable changes being faced by the sector.�

For up-to date information and tickets visit https://www.rla.org.uk/future-renting/

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.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Rented Housing Chief to Address Landlord Conference | LandlordZONE.

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Property Redress Scheme partners with Client Money Protect

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Client Money Protection:

With the introduction of mandatory client money protection from April 2019, Hamilton Fraser is announcing a joined up approach to its group companies; the Property Redress Scheme (PRS) and CMProtect (CMP).

With the mounting commercial pressures on letting agents, the partnership will deliver a more effective and convenient solution for client reassurance. In particular the 10,000 (and rising) members of the PRS will have access to preferential rates as well as a simplified membership process.

CMP, launched in 2014, is a membership scheme that focuses purely on protecting client money – an insurance service that until then was only available to agents that were members of an industry trade body.

In the event that a letting agent becomes insolvent or cannot return the client money, the landlord or tenant contacts CMP and they deal directly with them, reimbursing their losses where appropriate. By being a member of CMP letting agents’ clients obtain this very important protection from an acknowledged expert in the private rental market.

CEO of Hamilton Fraser, Eddie Hooker said:

“The Property Redress Scheme and CMProtect go hand in hand by giving consumers the reassurance that their relationship with their agent, whether financial or service wise is protected. Irrespective of what happens, the client’s money will be safe.

“A large proportion of the PRS membership do not have this important protection and subject to obtaining a government licence to operate a scheme we will ensure that all of our letting agent members across our group of companies fully comply with the forthcoming law. By using this group approach we can deliver the benefit at an even more affordable price. �

As part of the partnership CMP are offering PRS members a special rate on CMP starting at £199 plus VAT (per annum) until 1st October 2018 compared to the normal rate of £299 for agents holding less than £100k of client’s money.

Based in Borehamwood, Hamilton Fraser, (parent company to Property Redress Scheme, CMP, Total Landlord Insurance, mydeposits, and Landlord Action) has been providing specialist insurance and ancillary services for the private rented sector since 1996.

The Property Redress Scheme

The Property Redress Scheme (PRS) is a straightforward and easy to use consumer redress (ombudsman) scheme for Property Agents and Professionals. The main purposes of the Property Redress Scheme are to allow Agents to comply with their legal requirement to be a member of a government authorised consumer redress scheme and to settle or resolve complaints made by consumers against our Members. Our Members and consumers will both benefit from our simple three stage process to resolve the complaint:

1. The Member will first be given an opportunity to resolve the complaint directly
2. The PRS offers a mediation service
3. The PRS Ombudsman will make a binding decision on the complaint

Client Money Protect

Client Money Protect (CMP) is a client money protection Membership designed to protect client money held by Property Agents and Professionals. The Member’s clients are protected in the event that the Member misappropriates the client money held in the course of running their business. Our Members and consumers will both benefit from our simple Membership and claim processes.

All Property Agents and Professionals can apply to become Members. The application process requires the completion or an application form and a client money questionnaire. Provided the applicant passes both and pays the Membership fee they can then become a Member. There is an annual renewal.

There is a three stage process for the Member’s clients to make a claim to CMP:

1. They must be owed money by the Member.
2. They must have reported the theft of the client money to the police.
3. They must complete the CMP claim form.

If CMP are satisfied there has been a theft of the client money then CMP will reimburse the client. The limits are £500,000 per Member and £25,000 per individual.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Property Redress Scheme partners with Client Money Protect | LandlordZONE.

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Birmingham – the prime hotspot to live, work and invest

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We believe in the growth and power of an off-plan investment and therefore we have teamed up with one of Birmingham’s leading developers to bring our investors four incredible ‘early bird’, off-plan opportunities in prime locations of Birmingham.

Investing at this early stage enables you

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Tenant asking for hardship compensation over bins?

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I became a landlord in May 2018 as I moved in with my partner into Central London. I own a 1 bed flat in Buckinghamshire which has a lounge/kitchen, bedroom and bathroom. The property is situated on a corner by a shop and a business park and is a terraced property (ground floor) with no front or rear garden.

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Stoke-on-Trent Selective Licensing Update

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Stoke-on-Trent City Council carried out a consultation exercise earlier this year considering the introduction of Selective Licensing in 14 areas of the city to “tackle problems in areas with high levels of privately-rented housing and improve property conditions and the health and wellbeing of residents.”

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EIGHT student tenant FAQ’s ahead of term starting again

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Over the next few weeks many students will be moving in to student properties ready to start the University term. From what to do if a tenant signs a contract and then changes their mind, to whether you need to pay council tax, read on to check out the most common questions the landlords have […]

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Was Shelter’s campaign with Rosie likely to succeed if it got to court?

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Last week Shelter issued a document in partnership with the National Housing Federation (NHF) called “Stop DSS discrimination� Click Here

Their argument is on Page 6, with the heading “What does the law say – is a blanket ‘No DSS’ policy unlawful?�  (The answer is No

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Agency group Countrywide approves £140m rescue plan

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Estate Agency:

Shareholders in Countrywide, the UK’s biggest estate and letting agency group, have voted in favour of a £140m rescue package. The £200m debt fuelled company will now use the money to strengthen its balance sheet and provide a financial cushion while it implements its 3-year turn-around plan.

Countrywide is one of the UK’s biggest agency groups owning brands including Hamptons International, Bairstow Eves and Chappell & Matthews. It is also a leading provider of Residential development and consultancy practices, Surveying, Conveyancing, Corporate Property Services, Leasehold Estate Management and Auctions, serving major lenders, investors, house builders, commercial businesses, corporations, local authorities and housing associations.

The company has had a very difficult year, with two profit warnings and a collapse in its share price. A downturn in house sales, and their woes compounded by new online entrants with lower cost bases, such as emove and Purplebricks, the company is now looking at a new strategy and a ruthless cost cutting exercise.

The rescue plan was backed by 98 per cent of the company’s shareholders and will raise new funding at a big discount to Countrywide’s share price earlier in the year, considerably diluting existing shareholdings.

Shares were trading around the 50p level before the fundraising announcement just a month ago, whereas the one billion new share issue is at 10p each.

The company initially failed to raise its target amount when offered to a selected group of shareholders taking up just £111.4 of the first tranche of new shares, later taken up to target by another £28 million added in a secondary offering.

Two City firms, Oaktree Capital Management and Brandes Investment Management, which own the majority of the company’s eligible voting stock betweeen them, helped vote the share offering through.

However, the move has so far failed to impress in the City as the share price slid from its opening price of 15p on the day, down to 13.7p.

The company is not alone in its property market woes as this year has seen London “bricks and mortar” estate agency, Foxtons Group plc’s share price slide from around 90p in April to just 55p today.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Agency group Countrywide approves £140m rescue plan | LandlordZONE.

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