The hybrid letting agency that’s bucking all trends

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In the midst of one of the UK’s largest online letting agencies closing its doors to new business and others losing money raised from Crowdfunding hand over first, LettingSupermarket.com are well and truly bucking the trend.

They successfully completed two crowdfunding campaigns in 2015 and 2016 and raised £375,000 of seed funding from 121 investors to help grow the business.

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Borough-wide licensing in Islington could lead to rent increases-RLA

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A borough-wide licensing scheme that has been proposed in Islington could lead to rent increases if it is introduced, the RLA has warned. Islington Council is proposing to introduce a borough-wide additional HMO licensing scheme, and a selective licensing scheme to cover all properties in the Finsbury Park ward not already covered by mandatory licensing. […]

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LLP or LTD for mixed age Joint Venture

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LLP or LTD Co.? We are a group of 4 individuals – all 40% tax payers looking to do a Commercial to Residential flip. Gross Development Value (GDV) £2.2M Net profit £450k (when the last of the 12 Residential units has sold!)

We will be borrowing from friends and family as well as the “banks”

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Watch out how you describe threatening tenants to the police

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I had cause to report the threatening behaviour of a male tenant to the Police. The tenant was British White in terms of appearance. I did not mention this and reported nothing about either his nationality or his appearance.

I then hear back from Kent Police that there were “racial undertones” in my reporting this tenant!

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RLA has published its own election manifesto…

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Landlords’
Vision:

With a general
election pending and the private rented sector (PRS) in crisis the
Residential Landlords Association has set-out a six-point manifesto
unveiling what it says is a “positive vision for the private rented
sector.”

Arguing that instead
of constant meddling, what the PRS needs is “a positive, ambitious
programme for the sector, which supports tenants and good landlords,
whilst at the same time rooting out the crooks who have no place in
the sector.”

The positive view of
the PRS is that 84 per cent of private tenants are satisfied with
their accommodation – a higher proportion than in the social sector –
and that private tenants stay for an average of four years plus. I
addition – despite misconceptions promulgated by the popular media –
88 per cent of private tenancies are ended by the tenant, says the
landlords’ association.

Its manifesto
stresses the importance of the private rented sector: “an important
source of housing for growing numbers of families with children,
older people, the homeless, students and young people who need to
swiftly access new work and educational opportunities.”

Key proposals
include:

• improving
  access to justice for tenants and landlords when things go wrong by
  developing a housing court,

• supporting
  vulnerable tenants by ending the Local Housing Allowance cap and
  ensuring councils have the resources to find, and
• rooting out
  criminal landlords using the wide range of powers they already have.

The RLA warns of
“noticeable rent rises as a result of the demand for private rented
housing outstripping supply”, and it calls on all parties involved
to boost supply by scrapping the Stamp Duty levy on additional
properties where landlords provide homes adding to the net supply of
housing.

Rent controls, the
RLA argues, should be rejected out of hand as they would serve only
to “dry up the supply of homes to rent”, and they would reduce
choice for tenants and thereby increasing rents overall.

David Smith, Policy
Director for the RLA, has said:

“For too long we
have let the actions of a minority of landlords who bring the sector
into disrepute dictate the debate around rented housing. Whilst we
must find and root out such people we cannot let it distract from the
positive news in the sector.

“The vast majority
of landlords and tenants enjoy good relations, with many tenants
staying long term in their rental properties.

“It is important
that we build upon this record, ensuring pro-growth policies to
ensure a sufficient supply of homes to rent, supporting vulnerable
tenants and ensuring tenants and landlords can access justice more
quickly if things do go wrong.

“We call on all
parties to accept our positive, pragmatic programme for the sector
and end the unnecessary scaremongering which is causing many tenants
to live in fear.”

The RLA’s election manifesto

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