Newly launched luxury Manchester apartments

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We are delighted to launch a brand new, off plan investment opportunity in Manchester called Greenwood Place.  Prices for a 2 bed apartment with parking start from only £135,000.

Greenwood Place is ideally situated on the outskirts of Manchester and is only a 20 minute drive to the city centre. 

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Bank managers are a virtually extinct species

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Many years ago, property investors and developers knew their local bank manager and would simply arrange a meeting with them to discuss the various finance options. However, today, bank managers are a virtually extinct species and where they do exist

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Laws on overcrowding in rental properties

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Alexandra Morris, Managing Director of MakeUrMove, shares details on what landlords need to know on the laws of overcrowding in rental properties.  At the end of 2018, the government introduced details of the Homes (Fitness for Human Habitation) Act, which is to replace the Landlord and Tenant Act. 

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Agents – time running out to register for CMP

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Client Money
Protection:

Client Money Protection (CMP) is an insurance product for letting agents.

CMP protects the rental money that a tenant pays their letting agent to pass on to a landlord. Many landlords and tenants are unaware of CMP and how it can safeguard rental money should an agent go into administration or attempt to use client funds fraudulently.

CMP is becoming available through several providers and policies will be in place well before the deadline of 1^st April 2019. Agents that belong to an industry trade body may already be covered under their membership schemes. The following trade bodies offer comprehensive CMP cover to their members: RICS, ARLA, UKALA and NALS.

From 1^st April 2019 all agents managing lettings
in England must belong to an approved CMP scheme and must:

• Display a certificate confirming membership of
  an approved CMP scheme in each branch and on the firm’s website.
• Give a copy of the agency certificate to anyone
  who reasonably requires it, free of charge
• Notify all clients within 14 days if their CMP
  membership is revoked, or they change to a different approved CMP scheme
• Provide clients with the name and address of the
  scheme to which they become a member

The agent must ensure the level of CMP membership provides
sufficient cover to compensate clients for the maximum amount of client money
being held.

Local authorities will have the power to impose fines of up
to £30,000 for failure to belong to a scheme and up to £5,000 for failure to display
the correct scheme membership details on the business premises and on websites.

There are currently 4 schemes to choose from and more are
expected:

Client Money Protect

Money Shield

NALS

UKALA

To avoid heavy fines, agents must have CMP in place by April
1st 2019, so time is running out.

Here is the enacting legislation:

The Client Money Protection Schemes for Property Agents (Requirement to Belong to a Scheme etc.) Regulations 2018

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Landlord Licensing costs are a postcode lottery

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The cost of landlord licensing schemes in Britain are a postcode lottery reveals new research1 from Direct Line for Business. The analysis of licensing charges between local authorities show a large variance, with the cost of a new licence ranging from just £55 to £1,150

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Homes (Fitness for Human Habitation) Act 2018 – Landlord Guide

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Homes (Fitness for Human Habitation) Act 2018 comes into force today 20th March 2019

The Ministry of Housing Communities and Local Government has released its official guide for landlords. Click here to view the full guide.

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