‘Rumble with the Agents’ raises over £19k for Make-A-Wish UK

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On Thursday 23rd May, the fifth annual ‘Rumble with the Agents’ white-collar charity boxing event took place at The Holiday Inn in Finchley Central.  The sell-out event, attended by more than 300 property professionals, raised in excess of £19,000 for Make-A-Wish UK

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Reminder – Tenant Fees Ban commences tomorrow

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Tenant Fees Ban:

The Tenant Fees Act 2019 becomes effective from tomorrow,
Saturday 1st June 2019.

It applies to England only for now, but is likely to be
extended to Wales in due course.

The Act controls payments that landlords and letting agents
can require a tenant to pay in connection with a tenancy or licence for a
residential dwelling in England with very few exceptions.

Effectively, the Act bans all payments a landlord or letting
agent may take from a tenant except those expressly set out in the Act as “permitted�
payments. These are:

Rent – which will
include an advance payment for the first rent period, which must be the same as
all the subsequent rent payments. In other words, the first period cannot be
loaded to recover costs

Holding Deposit –
refundable, and no more than the equivalent of one week’s rent, with its terms
of refund and retention set-out clearly in writing

Tenancy Deposit,
sometimes referred to as a security or damage deposit, again refundable and
capped at no more than five weeks’ rent, if the total annual rent is less than
£50,000, or a maximum of six weeks’ rent, if the annual rent exceeds £50,00

Amendments charges,
mid-tenancy, amendments requested by the tenant are capped at charges of £50,
unless a greater cost can be fully justified.

Early Termination,
payments associated with this when requested by the tenant

Provision of
Utilities, such internet services, telephone, TV licence and council tax
when appropriate.

Default Fees,
when the tenant defaults on rent payments or other permitted payments specified
in the tenancy agreement, including such items as replacement of a lost keys,
etc.

There is considerably more detail within the Act itself –
see the link below – so landlords and agents should familiarise themselves with
the detail.

Tenant Fees Act 2019

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Report shows 10,000 extra rentals added to English dwelling stock

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Rental Housing:

Between March 2017 and March 2018, the private rented dwellings in England increased by 10,000. Over the same period the owner-occupied dwelling stock increased by 226,000 while the social and affordable rented stock decreased by 1,000 dwellings. Other public sector stock decreased by 13,000 dwellings.

The figures clearly demonstrate the trend, how private landlords have increasingly become relied upon to provide the much needed extra rental housing.

The Dwelling Stock Estimates to 31 March 2018, for England
published in a Government Housing Statistical Release last week (24 May 2019)
show there were 24.2 million dwellings in England at 31 March 2018, an increase
of 222,000 dwellings (0.93%) on the same point the previous year.

15.3 million of these dwellings were owner occupied dwellings, 4.8 million private rented dwellings and 4.0 million social and affordable rented dwellings (Private Registered Providers plus Local Authority).

Between March 2017 and March 2018, the owner-occupied dwelling
stock increased by 226,000 and the private rented stock increased by 10,000. The
social and affordable rented stock decreased by 1,000 dwellings and the other
public sector stock decreased by 13,000 dwellings.

There were 634,453 vacant dwellings in England on 1 October
2018, an increase of 28,562 (4.7%) from 605,891 on 2 October 2017. Vacant dwellings
are 2.6 per cent of the dwelling stock.

Long-term vacant dwellings numbered 216,186 on 1 October
2018, an increase of 10,893 (5.3%) from 205,293 on 2 October 2017. Long-term
vacant dwellings are 0.9 per cent of the dwelling stock.

The publication states
that these tenure statistics differ from those published from the English
Housing Survey which are in terms of households not dwellings. In addition, the
dwelling stock figures include vacant dwellings. The trends are consistent. The
English Housing Survey is the primary measure of tenure, as the unit of
households is the preferred metric, but the Dwelling Stock figures are a useful
leading indicator.

Dwelling Stock Estimates: 31 March 2018, England

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