Student landlords: Don’t write off this year yet… as market enjoys last minute surge

admin    Uncategorized     agents

The student accommodation market is still a mixed picture following dire warnings earlier this summer that students might not sign tenancy agreements next term.

Many landlords feared youngsters would spurn their accommodation due to coronavirus, but student accommodation search engine accommodationforstudents.com reports a late surge of those looking for homes, with 25% more online searches in June versus the same month last year, and searches up 12% in July compared with the previous year.

It also reports that 24% of its searches have been made by international students so far this year, compared with 28% last year.

Director Simon Thompson says there’s been a rush of activity in the last six weeks. “Students are now eagerly making plans to return to university,” he says.

“Although it’s likely that more lectures will be carried out virtually, students still want to maintain that freedom and sense of independence they get from living away from home and would prefer to be living with friends as opposed to their parents and siblings.”

However, Owen Cosslett, lettings manager at Oak Student Letts in Nottingham, tells LandlordZONE that some sectors of the market are struggling, particularly the high-end studios favoured by international students.

“They rely on these students who don’t want a shared experience – but many are vacant and will need to drop their prices quickly,” he says.

His office expects to see increased movement through clearing when universities look set to accept more domestic students, to make up for any downturn in international admissions.

Adds Cosslett: “A lot of people have written off this year but I’m hopeful that it’s just a blip and that next year we’ll be back to near normal. As purpose-built providers are being hit harder it’s possible that they might decide to reduce rents next year, then everybody else will have to adjust theirs – but it’s unlikely.”

Read more about student accommodation.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Student landlords: Don’t write off this year yet… as market enjoys last minute surge | LandlordZONE.

View Full Article: Student landlords: Don’t write off this year yet… as market enjoys last minute surge

Another licensing scheme delayed ‘due to Covid’

admin    Uncategorized     agents

Weymouth’s proposed selective licensing scheme has fallen victim to COVID-19 and still hasn’t been approved more than a year after its public consultation ended.

More than 500 people had commented on the seaside town’s proposals by the end of last April and since then, Dorset Council has held meetings with the police, landlords and agents, but admits that dealing with the pandemic has held things up.

The scheme, planned for part of the Melcombe Regis ward, would cover more than 900 properties and cost up to £625 for a five-year licence; it’s in the 10% most deprived neighbourhoods in the country, with 46% of properties privately let.

The council hopes licensing would raise management standards there and ensure proper tenancy arrangements are in place, while tackling anti-social behaviour and deprivation. Its consultation revealed that 60% of people thought that the scheme would positively improve the area.

Councillor Jon Orrell says: “It is frustrating that progress has stalled. Good standards of housing are key to improving the lives of many people. Now the council reorganisation is settled and coronavirus has temporarily abated the Melcombe board is due to resume with a new chairman. I hope to see improvements in the most deprived streets of Dorset.”

The council received representations from the Weymouth Landlords Association, Dorset Police and the National Residential Landlords Association. A spokesman adds: “We have also considered alternatives such as targeted enforcement of rental properties, improving relationships with landlords and agents and by providing training.”

Its executive advisory panel is set to meet on Wednesday when it’s due to recommend the next step.

Read more about selective licensing.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Another licensing scheme delayed ‘due to Covid’ | LandlordZONE.

View Full Article: Another licensing scheme delayed ‘due to Covid’

LATEST: Liverpool reveals latest licensing plans after rejection

admin    Uncategorized     agents

Liverpool City Council has opened its politically-sensitive consultation on a new Selective Licensing scheme for 16 wards within northern and western parts of the city, half the number its previous city-wide scheme covered.

The revised scheme will run for five years from 2021 and will cost landlords between £300 and £570 per property depending on whether they take up an early bird offer and which type of licence they choose.

Landlords have until 26^th October to have their views heard alongside those of letting agents, industry associations, residents and resident’s groups, private tenants, charities, advice agencies, registered housing providers, councillors and businesses.

The new scheme is the latest salvo from the council in its ongoing battle with Housing Secretary Robert Jenrick to re-introduce selective licensing for rented properties.

In January Jenrick rejected its bid to renew the council’s existing city-wide scheme, citing insufficient evidence of low demand for homes within the city.

Liverpool City Council then said it planned to launch a judicial review of the decision but this was shelved in favour of a new application. After the consultation ends, the council will make a fresh application to government in December.

“This will cover council wards where there are high levels of private sector rented properties, and acute problems with complaints and hazards,” the council says.

“Owners will be required to licence their properties and comply with conditions. By doing this we can tackle poor management and condition of properties. There are several options for this. Views are welcome on these alongside proposed fees and draft licence conditions.”

Read the consultation documents in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Liverpool reveals latest licensing plans after rejection | LandlordZONE.

View Full Article: LATEST: Liverpool reveals latest licensing plans after rejection

BREAKING: People can move home within North West lockdown, government confirms

admin    Uncategorized     agents

The government has updated its guidance on the regional lockdown in the North West today to clarify that people can continue to move home.

This will be a huge relief for landlords and letting agents in the affected areas, as many other activities have been curtailed.

This includes a ban on visiting gyms and swimming pools and restrictions on weddings, funerals, travelling by car, visiting friends at home, going on holiday and visiting people in care homes.

A Ministry of Housing, Communities and Local Government said the guidance update has been included following questions from those working within the housing market following the regional lockdown, which includes Greater Manchester, five areas of Lancashire (Blackburn (pictured), Burnley, Hyndburn, Pendle and Rossendale) as well as three areas of West Yorkshire (Bradford, Calderdale and Kirklees).

This new lockdown, which was announced over the weekend following spikes in Covid infections within these areas, enables both sales and letting agents to go about their business along with removals firms.

Also, landlords and their contractors can continue to attend to repair and maintenance issues at properties, and those planning to move home can still attend viewings.

Two other regional lockdowns have been implemented so far. These are in Luton, which ended on 1st August, and in Leicester, where restrictions continue albeit in a smaller area.

Read the guidance in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: People can move home within North West lockdown, government confirms | LandlordZONE.

View Full Article: BREAKING: People can move home within North West lockdown, government confirms

Tenant demanding deposit back unfairly?

admin    Uncategorized     agents

We have a prospective tenant that failed the referencing due to a CCJ they apparently didn’t know about (we refunded their holding deposit). We liked them and tried to work with them and offer an olive branch through them finding a suitable guarantor.

The post Tenant demanding deposit back unfairly? appeared first on Property118.

View Full Article: Tenant demanding deposit back unfairly?

Myth-busting – Electrical Safety installations Act 2020

admin    Uncategorized     agents

The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 came into force on 1 June 2020 and will apply to all new tenancies in England from 1 July 2020.

Thanks to Bill Stiles from Adept Electrical –

The post Myth-busting – Electrical Safety installations Act 2020 appeared first on Property118.

View Full Article: Myth-busting – Electrical Safety installations Act 2020

Landlord mortgage holidays ‘don’t give tenants an automatic right to rent cancellation’

admin    Uncategorized     agents

A leading industry figure reckons critics should give landlords a break and not assume that they’re raking in cash by taking a Covid ‘mortgage holiday’.

David Alexander, who is boss of he property management platform Apropos, has defended those landlords getting help from their bank, and hopes to dispel the misconceptions and assumptions made by those who believe they shouldn’t charge rent while taking a payment break.

“This assumes that the rent is required only to cover the mortgage payments when it’s often part of the landlords’ income as well. Equally not all landlords have mortgages, and many are solely reliant on their rental income to live,” he says.

Alexander believes there’s been a tendency to portray the landlord and tenant relationship as an ‘us and them’ situation but says the welfare and well-being of both is paramount.

He adds: “The truth is that both are interdependent on one another and need to work with agents to create a fair and fully functioning connection.”

Evictions – and disruption to tenants’ lives – should be the last thing on anyone’s mind now, he says, while agents and landlords must work closely with tenants to build strong relationships.

500 tenants

Apropos is currently working with about 500 tenants whose landlords have reduced rents, agreed payment plans and, in some cases, cancelled rents altogether.

“These are temporary solutions for unusual times and we would, when the situation improves, always work with landlords and tenants to maintain regular payments to avoid arrears becoming an issue,” he explains.

“Obviously, many landlords have major issues of their own at the moment, and it is important to respect these but developing long-term, mutually beneficial relationships is crucial and requires understanding, communication, and trust.”

Read how landlords are being penalised for taking a mortgage holiday.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlord mortgage holidays ‘don’t give tenants an automatic right to rent cancellation’ | LandlordZONE.

View Full Article: Landlord mortgage holidays ‘don’t give tenants an automatic right to rent cancellation’