Sadiq Khan wants Welfare reforms to protect PRS tenants

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The Mayor of London, Sadiq Khan, has called on the government to stop the roll out of Universal Credit, after new analysis from City Hall showed welfare cuts over the last decade have led to a rise in the number of people in London forced into homelessness.

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SDLT reclaim?

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I have a question based on the below scenario:

Property A purchased by Mr. X as residential. Mr. X moved away for work and was renting. During this period converted the residential to BTL.

In the meantime found another as residential property B and purchased jointly as Mr.

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Call of the Week: Brexit and Right to Rent

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It’s a subject that has dominated the news headlines especially in the last few months. Brexit. For landlords, Brexit can pose some questions when it comes to Right to Rent checks. It is a requirement for all private landlords in England to check the immigration status (carry out a Right to Rent check) on prospective […]

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October licensing update: Landlords urged to respond to consultations

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This month the RLA has responded to several local authority licensing consultations, representing our members. Here, we take a glance at some of the current consultations that are being run by local authorities, recent RLA licensing consultation responses and other news related to licensing. Current licensing consultations Islington additional licensing and selective licensing consultation [closes 3rd November] Islington Council is proposing to introduce borough-wide additional HMO licensing, and also a selective licensing scheme […]

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Blog: Landlord Electrical Checks Look Likely from 2020

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The government has laid further regulations under the Housing and Planning Act 2016 in order to start the process of bringing into force the requirement for all landlords to carry out electrical safety checks. In this blog first published on Anthony Gold, RLA Policy Director David Smith takes a closer look at the issue of electrical safety […]

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Landbay say 75% of tenants are happy

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Landbay conducted a study ‘delving into the psyche’ of 2,000 private renters in the UK and as suspected the vast majority (75%) said they were happy.

Landbay went on to report:

“Some of this is a reaction to the financial demands of buying a home

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Landlords Alliance donates to defend our property rights

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Unless you’ve been living under a stone, you will have seen the Government waging a relentless war against private landlords. Some of the effects of this are now being seen in the courts, where extremely poor legislation, full of ‘unintended consequences’ is beginning to hit landlords hard. 

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Criminals laundering money for fraudulent rental payments

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Fraud:

Criminals have been sentenced for money laundering after fraudulent rental payments.

Three London criminals have been sentenced after pleading guilty to money laundering in April 2019. Two criminals were sentenced on 27 June 2019 and the third was sentenced on 21 September – all the sentences were handed down at Snaresbrook Crown Court.

The sentences follow an investigation spearheaded by the National Trading Standards eCrime Team, which found that an online property letting business – Oliver Knights – was being used as a vehicle for fraud that has led to at least £50,000 financial loss for tenants and landlords.

All three defendants pleaded guilty to money laundering, having knowingly allowed their bank accounts to be used to launder the proceeds of lettings frauds between the 31 December 2013 and 4 September 2015.* These proceeds specifically relate to rental payments received for properties that were never available to rent.

The final sentences handed down were as follows:

• Adnan Iqbal 34 from Barking, sentenced to 10 months, suspended for 18 months on 21 September 2019
• Shaidul Islam 29 from Ilford, sentenced to 1 year, suspended for 18 months
• Kamran Malik 31 from Plaistow, sentenced to 1 year, suspended for 18 months.

Mr Islam and Mr Malik were also ordered to pay compensation orders totaling more than £15,000, which is being redistributed to victims. All three were also ordered to do 120 hours unpaid community work each.

The investigation was prompted by more than 40 complaints to Action Fraud and Citizens Advice about Oliver Knights and has exposed how the business was used a vehicle for fraud, causing financial loss, distress and significant inconvenience (such as leaving people without a home) for prospective tenants and landlords. It is not suggested that the defendants were involved in the underlying frauds.

Lord Toby Harris, Chair, National Trading Standards, said:

“The defendants knowingly allowed fraudulent payments to be made into bank accounts and – while not being the architects of the fraud – have benefited financially from fraudulent activity. We are determined to clamp down on those who benefit from the financial exploitation of others and I am grateful to our investigators for their determination to secure justice and compensation for the victims, who have been left out of pocket and, in some cases, emotionally scarred.”

“The internet is a natural place to search for rental properties, but online search portals can be manipulated by criminals and it’s important to be vigilant. You should always check properties through accredited schemes – such as the Residential Landlords Accreditation Scheme or the National Approved Letting Scheme – and avoid paying deposits before you have visited the property yourself. Importantly, never feel pressured to transfer money to strangers.”

To report any suspected cases of fraud you should contact the Citizens Advice consumer helpline on 03454 04 05 06.

Background on Oliver Knights – a vehicle for fraud

Whilst it is not suggested that the defendants were involved in the underlying frauds, the background to Oliver Knights is important to understand the impact of the money laundering on victims.

Oliver Knights advertised properties to let on websites such as Rightmove, Zoopla, Gumtree and their own site to attract interest from prospective tenants. After initial dialogue and property viewings, consumers paid deposits and rent in advance – totalling hundreds or thousands of pounds – only to be told that the property was no longer available, or to not hear anything further from Oliver Knights representatives.

Some of the properties offered for rent had never been available and had been falsely advertised without the consent of the owners. In other instances, consumers paid deposits and rent and moved into the property before discovering that the transaction had been completed without the landlord’s knowledge and/or without the necessary payments being passed on to the landlord by Oliver Knights. This left some renters without a home and caused financial loss to landlords.

Victims – both consumers and landlords – have mentioned the impact of the experience on them. This includes:

• Causing stress and anxiety
• Loss of money, including being forced to borrow money from high-interest lenders to pay for deposits
• Leaving people without a home – some victims had to sofa-surf for weeks or relocate to a different city and change jobs
• Health issues, including headaches, exhaustion, weight loss and panic attacks.

* The charges were money laundering contrary to section 327 of the Proceeds of Crime Act 2002.

For more information visit www.nationaltradingstandards.uk

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BLOG: Wales homeless debate misses out key component – the PRS

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Calum Davies is the Welsh Policy & Public Affairs Officer at the RLA. Here he reflects on the last few weeks in Welsh politics. Homelessness has been high on the political agenda in Wales over the last month. With October 10 marking World Homeless Day, we were updated on the Welsh Government’s homelessness strategy, with […]

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Buy Build Complete to generate quicker returns

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PIP is delighted to offer investors the chance to invest in a beautiful 1-bed apartment in Shipley, near Leeds starting from only £77,000.  These apartments have been discounted by 12% off current selling prices.  According to local letting agents, Martin &

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