Consent to let charge silent in lease?

admin    Uncategorized     agents

I am planning to rent out my flat for a shorthold tenancy agreement. On my lease it says that I need to get written consent of the landlord for subletting. I had enquired with the landlord (this being the freeholder).

The post Consent to let charge silent in lease? appeared first on Property118.

View Full Article: Consent to let charge silent in lease?

Landlord Incorporation Checklist

admin    Uncategorized     agents

If you’re contemplating a transfer of your rental property business into a Limited Company, this checklist will prove extremely useful for you.

1. Does the operation of your rental property business occupy at least 20 hours a week of time

The post Landlord Incorporation Checklist appeared first on Property118.

View Full Article: Landlord Incorporation Checklist

Rents rise as tenant fees ban looms

admin    Uncategorized     agents

According to the latest data from HomeLet’s Rental Index, UK rents for new tenancies have begun to rise at a rate not seen in the market for over two years. The annualised picture shows rental values having increased at a higher rate than was seen in 2018 rising by 3.3% in the last 12 months.

The post Rents rise as tenant fees ban looms appeared first on Property118.

View Full Article: Rents rise as tenant fees ban looms

Government changes MEES Regulations

admin    Uncategorized     agents

Energy Efficiency:

Since April 2018, a new legal standard for minimum energy
efficiency applies to rented residential dwellings and commercial buildings.
The new legal standard brings both threats and opportunities for landlords,
property investors and developers.

The minimum energy efficiency standard (MEES) was introduced
in March 2015 by the Energy Efficiency (Private Rented Property) (England and
Wales) Regulations 2015. The MEES Regulations originate from the Energy Act
2011 which contained the previous coalition government’s package of energy
efficiency policies including the Green Deal.

Currently rented dwellings have an energy efficiency rating
that goes from A – G but under the new law a minimum standard of E has been
introduced meaning that buildings cannot be rented out on a new letting unless
they meet that minimum standard. From April 2020 it also means that existing
lettings cannot continue unless they meet the new standard.

However, following a consultation after the introduction of
the new law, the government has decided that there is a necessity to amend some
of the rules. Therefore the Energy Efficiency (Private Rented Property)
(England and Wales) (Amendment) Regulations 2018 have passed through Parliament
and come into force on 1 April 2019.

The amended rules make changes to the Energy Efficiency (Private Property)
(England and Wales) Regulations 2015 and apply to private
rented properties in England and Wales.

The UK Government initially thought that the landlord
contribution would be capped at £2,500, based on its estimated average cost per
property at £1,200 needed to raise the energy efficiency (EPC rating) of an F
or G rated property to E. The amendment means that landlords will now be
required to pay up to £3,500.

The main changes the amendment brings are:

• Under the new rules landlords will be expected
  to contribute up to £3,500 (including VAT) per property to raise its EPC rating
  to a minimum of E.
• From 1 April 2019 the “no cost to the landlordâ€�
  exemption will no longer be available and will no longer appear on
  the PRS Exemptions Register and existing properties will be removed from the PRS
  Exemptions Register after 31 March 2020. All affected landlords will be
  contacted at the beginning of April.
• When the cost to achieve an EPC E exceeds
  £3,500, landlords can register a ‘high-cost’ exemption on the PRS Exemptions
  Register. This is providing they submit three separate quotes from different
  installers.
• Where improvements have been made since 1
  October 2017 up until 31 March 2019, these costs can be deducted from the
  £3,500 cap to determine the value of any further improvements to be made.
• The ‘consent exemption’ will also no longer be
  available where a sitting tenant has refused a Green Deal finance plan.

ARLA Propertymark has been lobbying government on the
regulations arguing that the government’s targets for EPC ratings of existing
stock were too ambitious. It said:

In January, we also submitted a response to the Business, Energy and Industrial Strategy Committee inquiry into energy efficiency. We stated that targets for EPC ratings of existing stock were too ambitious, as private landlords are provided little funding or incentive to make changes. We think that the UK Government should instead focus on introducing a Property MOT, encompassing many areas of property standards including energy efficiency. To aid landlords, the Energy Company Obligation should focus on providing funding to the private rented sector.

The Private Rented Property minimum standard – landlord guidance documents

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Government changes MEES Regulations | LandlordZONE.

View Full Article: Government changes MEES Regulations

New government guidance to protect tenants

admin    Uncategorized     agents

New online support as part of government’s commitment to give greater protection to tenants, and reform the private rented sector for the better – written by MHCLG and Heather Wheeler MP.

Local authorities across the country are set to receive a new package of online support as part of the government’s commitment to give greater protection to tenants

The post New government guidance to protect tenants appeared first on Property118.

View Full Article: New government guidance to protect tenants

Forfeiture of holding deposits/reservation fees

admin    Uncategorized     agents

Imagine this scenario. A prospective tenant, T, answers an ad and phones up and arranges to view a property. T meets the Landlord, L, and agrees to rent the property for 12 months starting in 14 days’ time at £900 per month.

The post Forfeiture of holding deposits/reservation fees appeared first on Property118.

View Full Article: Forfeiture of holding deposits/reservation fees

Should violence go with the territory?

admin    Uncategorized     agents

No too long-ago Property 118 covered Kicking Landlords. Now we have Stabbing Landlords. Such a Course of Action is not to be recommended. If a tenant or his representative threatens violence towards the landlord or his employees, it is certain to result in the termination of the tenancy.

The post Should violence go with the territory? appeared first on Property118.

View Full Article: Should violence go with the territory?

Scotland’s Landlords Association calls for UC direct payments

admin    Uncategorized     agents

Universal Credit:

Scotland’s leading landlords’ association, The SAL has
called for the housing element of Universal Credit to be paid direct to
landlords for all claimants

The SLA is Scotland’s largest landlord membership
organisation in the private rented sector and has asked the UK and Scottish
Governments to ensure that the housing element of Universal Credit is paid
directly to private and social landlords for all Scottish claimants.

In giving his oral evidence to the social security committee
of the Scottish Parliament, reported by Scottish
Housing News, John Blackwood, chief executive of SAL, said the move will
encourage landlords to provide homes to benefit recipients.

John Blackwood said that SAL believes this move would also
increase the supply of housing, prevent rent arrears, help tackle homelessness
and reduce the need for councils to provide temporary accommodation.

Currently, the Universal Credit regime limits direct payments
to those tenants with what are defined as tier 1 or tier 2 vulnerabilities*
such as addiction, mental health issues, bereavement or those not in education,
employment or training.

In giving his evidence Mr Blackwood pointed out a number of
other problems with Universal Credit which are leading to landlords avoiding renting
to Universal Credit recipients. These would include:

• Poor response times from DWP
• Misleading or incorrect information being given
  to landlords and tenants
• Unclear payment schedules

These types of delays and confusions are leading to tenants
building up significant rent arrears, and discouraging landlords from providing
housing to Universal Credit recipients, he said.

Speaking after giving evidence to the committee, John
Blackwood told Scottish Housing News:

“Private landlords in Scotland want to provide high quality
accommodation to anyone who wants it, including those receiving Universal
Credit. However, landlords are constantly frustrated and discouraged from doing
so because of the uncertainty inherent in the current system.

“In addition to numerous administrative delays and confusion
which see landlords and tenants receiving inaccurate or misleading information,
the limitation that only some of those on Universal Credit have their housing
element paid directly to their landlord, be that private or social, is a
significant systematic flaw.

“We want to see changes made that would see the housing
element paid directly to landlords in all instances. This would provide a
degree of certainty and help prevent tenants getting into rent arrears, thus
encouraging private landlords to continue to provide housing to those on
Universal Credit.

“This increase in supply would help to tackle homelessness and reduce the pressure on councils to provide temporary accommodation which is sometimes of very poor quality. The committee seemed receptive to these ideas and arguments and I hope will recommend urgent action is taken.�

Scottish Association of Landlords

SAL’s written evidence to the social security committee can be seen here

*Vulnerability is
generally defined as someone who is more likely than the ‘average’ person to
suffer detriment or harm if they become homeless. Although this is not intended
to be an exhaustive definition, as each case should be considered on its own
merits, for the purpose of this Protocol the types of people who may be
considered to be vulnerable can include:

• Families
  with children under 18 and pregnant women;
• 16-17 year
  olds;
• Households
  experiencing domestic violence and abuse;
• People
  with mental health problems;
• Older
  people;
• People
  with a physical disability;
• People
  with a learning difficulty;
• People
  with alcohol or substance misuse problems;
• Asylum
  seekers or refugees;
• Former
  rough sleepers;
• Ex-offenders;
• People
  with multiple problems e.g. mental health and alcohol problems.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Scotland’s Landlords Association calls for UC direct payments | LandlordZONE.

View Full Article: Scotland’s Landlords Association calls for UC direct payments

Bank of England survey of attitudes to inflation and interest rates

admin    Uncategorized     agents

This news release describes the results of the Bank of England’s latest quarterly survey of public attitudes to inflation, undertaken between 8 and 9 February 2019.

Q: When asked about the future path of interest rates, 22% said rates might stay about the same over the next twelve months

The post Bank of England survey of attitudes to inflation and interest rates appeared first on Property118.

View Full Article: Bank of England survey of attitudes to inflation and interest rates

Be a guest of Mark Smith (Barrister-At-Law) – Croydon

admin    Uncategorized     agents

Our Hon. Legal Counsel, Mark Smith, Head of Chambers at Cotswold Barristers will be presenting an overview of several landlords tax strategies at the pin Croydon Meeting property networking event Wednesday 17th April 2019.

The event will start at 6:00pm until 9:00pm and will be free for guests of Mark Smith that have not previously attended a pin meeting.

The post Be a guest of Mark Smith (Barrister-At-Law) – Croydon appeared first on Property118.

View Full Article: Be a guest of Mark Smith (Barrister-At-Law) – Croydon