Sold after 28 years

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I purchased my first Buy To Let in Paddock Wood Kent on 5th July,1991 and completed on the sale yesterday (21st August, 2019). Basically, it has gone up in value 10 times in 30 years.

The house was a regulated tenancy and became a de-regulated tenancy (an Assured Shorthold Tenancy) prior to sale with vacant possession.

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Mortgage with a council grant?

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Does anyone have any experience with grants from the council, and subsequently, getting a mortgaging on a property?

I own a long term empty property which is eligible for a £25k grant from the council to bring the property back into rentable condition.

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Reducing moving stress for tenants and landlords

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Tenant Moves:

The lettings industry (letting agents) should do more to
raise awareness of reducing moving stress for tenants and landlords, that’s according
to Tenant Shop, a company that takes care of all the administration process around
tenant moves.

There’s a lot of advice available for home buyers and
sellers about how to deal with the moving process, but relatively little in
comparison for landlords and tenants in the private rental sector (PRS) says
Tenant Shop MD, Glenn Seddington.

“Considering the rapid growth of the PRS – which now
accounts for approximately 20% of all households and represents the largest
housing tenure in London – more needs to be done to make the moving process
smoother for landlords and tenants,” says Glenn Seddington.

“It’s also crucial that advice and guidance is readily
available for these stakeholders as the PRS becomes more widely regulated and
the lettings process is subsequently more complex.”

Here are some of the main “moving pain points� for landlords
and tenants according to Mr Seddington:

• It’s crucial that landlords understand how key
  legislation such as the Tenant Fees Act, deposit protection and the Right to
  Rent scheme work in order to stay on the right side of the law and protect
  their investment.
• It’s also important for tenants to be fully
  aware of their rights and obligations when it comes to renting a property and
  have the ability to showcase their value as a good tenant to a potential
  landlord.
• If both sides of the transaction are aware of
  what is required of them from the outset, this can help to make things run more
  smoothly and speed up the moving process.
• Landlords will also want to make sure that as a
  new tenancy starts, the previous one is tied up and signed off, paving the way
  for a smooth changeover with no unpaid bills or charges outstanding.
• The majority of moving pain for tenants,
  meanwhile, is likely to relate to financial issues, with finding a deposit for
  a new property before receiving their existing deposit back being one of the
  main challenges.
• Once a tenant moves into a property, they will
  be eager to get everything sorted quickly so they can start to enjoy their new
  home. This can range from organising bills and council tax to managing
  utilities, and getting the TV up and running so they can get started on their
  next boxset.
• Another moving stress for renters is packing and
  creating a precariously constructed Jenga tower of their belongings in their
  van or car. Any advice tenants can receive on these matters could also help
  them greatly when it comes to moving day.”

What can letting agents do to reduce moving stress in the
PRS?

• A lack of understanding and awareness is one of
  the key drivers of stress among landlords and renters during tenancy
  changeovers, according to Tenant Shop.
• As the rental process becomes more professional,
  letting agents need to be on hand to provide consumers with the guidance and
  advice they need to feel at ease during the moving process.
• Providing a first-class customer service has
  always been a vital part of maintaining long-term relationships with landlords,
  while impressive customer relations will not go unnoticed with tenants, who
  could go on to become future sellers or landlords.
• Agents can also help to minimise stress for
  tenants by providing them with access to innovative products such as deposit
  replacement schemes and new referencing options, which could reduce the financial
  pressure on their move.
• It’s also important to have the technology and
  systems in place to manage changeovers efficiently.

All of this not only will this reduce the chance of human
error and provide consumers with a more succinct service, but it will also
allow letting agents to spend more time growing other parts of their
business,” Mr Seddington says.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Reducing moving stress for tenants and landlords | LandlordZONE.

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New Paragon 80% BTL products for individuals Ltd co and LLPs

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Paragon has refreshed its buy-to-let switch and further advance product range for portfolio and non-portfolio landlords, with a range of two- and five-year fixes available at 75% and 80% LTV for individuals, limited companies and limited liability partnerships.

Paragon’s portfolio range is designed for landlords with four or more mortgaged properties

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Citizens Advice response – Landlords and tenants need clearer standards

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The second Citizens Advice article can be viewed if you click here:

“Landlords and tenants need clearer standards
Why we’re calling for a national housing body for the private rented sector”

Below is a breakdown of what I believe to be errors and misinformation in the above-named report

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Shortage of brickies is the problem!

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The Children’s Commissioner for England reports that over 200,000 Children are Homeless and presumably one or both parents.

The only answer us to build more houses and quickly! However, Developers report an acute shortage of construction workers. The planning process has rapidly speeded up

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Crowd Justice appeal: Gas safety Certificate and Section 21

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Landlord Trecarrell House Limited is being supported by the RLA and has launched a Crowd Justice appeal: “Protecting Landlords Rights: Gas Safety and Section 21” Click Here

The Court of Appeal has now granted the landlord the right to appeal.

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Citizens Advice articles and my responses – the full articles

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The first Citizens Advice article can be viewed if you click here:

“3 things we know about how private landlords work
Key findings from the government’s first survey of landlords in 8 years”

There are some important discrepancies in the above-mentioned article

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Another reason not to accept tenants on benefits: a case study

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I was surprised to see that Shelter still hasn’t given up on its campaign to prevent private landlords from using the phrase ‘no DSS,’ and that it is continuing to spend its considerable financial resources on this. This is despite the overwhelming evidence in research by Openrent that 90% of tenants on benefits want to know if the landlord genuinely will accept them or not – so Shelter is doing the diametric opposite to what those it purports to advocate for would wish it to do.

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Eviction costs can seriously dent your rental income

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Letting Costs:

Research carried out by agents Benham and Reeves has
produced some worst case scenario costs of removing a really bad and determined
tenant, costs which are truly alarming.

These high figures would be a major concern at any time, but
with the government planning to remove the Section 21 accelerated possession
process they are doubly so.

Benham and Reeves think that on average, in this situation,
it can cost a landlord around £30,000 to remove a really troublesome tenant
when taking into account lost rent, the legal costs, and repairing damage to
the property, which is very common in these circumstances.

Of course, most landlords never experience a tenant dispute
that ends in eviction. Going the whole hog from a long notice period, court
action to obtain a possession order, and finally employing bailiffs to evict
can certainly rack up these sorts of costs, not to mention the stress that’s involved
– more than a few sleepless nights over a period of 9 months.

But landlords can reduce the risk of this scenario by making sure that new tenants are vetted thoroughly. Using professional letting agents who are members of one of the recognised professional associations or, if you do the letting yourself, using a good tenant checking service such as www.tenantveify.co.uk is highly advisable.

Also, having the right insurance cover.  Benham and Reeves claim that their research found
that 13% of landlords don’t have any landlord insurance cover, let alone any
rent guarantee and legal protection insurance. When the worst happens they have
no cover for accidental damage by tenants, loss of rent if the property becomes
uninhabitable or during an eviction, and no landlord’s contents cover. What’s
more they are leaving themselves open to horrendous claims if the tenants or
visitors should injure themselves and claim off the landlord.

Typically landlords will lose around nine months’ of rent payments
while pursuing an eviction, which with average rents will amount to around
£6,111. Add to that fixing up or replacing a damaged kitchen and bathroom,
commonly the most abused, can cost around £8,000, and £4,875, respectively. Redecorating
adds another £2,900, and new windows and or doors will add a further £7,000.
Legal fees typically come in at £3,000.  

Clearly this is a worst case scenario, but entirely feasible if the wrong tenants are taken on, and in some regions like London and the South East these costs can be even higher.

Director of agents Benham and Reeves, Marc von Grundherr, has
said:

“Rogue tenants are a landlord’s absolute worst nightmare,
and apart from the stress and time consumed dealing with them, the financial
impact can be crippling.

“We’re not talking about a bad apple that doesn’t pay rent
for the last two months of a tenancy and leaves a dirty protest on their way
out.

“We’re talking about serious criminal organisations that
know the letter of the law and every trick in the book to prevent you from
getting rid of them, including how to stall the court date for weeks on end and
how to deter the bailiff through threats of violence when they finally do call.

“At the very least, you’ll have a dangerously overcrowded
sub-let on your hands but more often than not it will be a brothel, workhouse
or drug farm.

“We’re not kidding when we talk about the complete
renovation and refurbishment of the property afterwards either, as they will
take every single thing they can and destroy whatever is left.

“It’s an extremely deep-rooted issue that goes beyond the
tenant, even as far as the bribery of the concierge, and so you really are fighting
from day one to get them out.�

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Eviction costs can seriously dent your rental income | LandlordZONE.

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