BREAKING: Major NW council prepares major selective licensing expansion

admin    Uncategorized     agents

Salford plans to extend selective licensing in two more wards to help stem the rise in hazards identified since the last scheme ended and to eject rogue landlords.

The council, which was the first local authority to introduce landlord licensing in the Seedley and Langworthy area in 2007, aims to reintroduce it in the Eccles & Barton and Winton wards where a scheme ran from 2015 until 2020.

The new proposal includes some additional streets and covers 847 private rented properties, 35 of which are small HMOs and subject to additional HMO licensing. Landlords would pay £609.01 for a five-year licence.

Salford reports that positive progress was made during the previous scheme, which led to improved social and economic conditions.

However, housing conditions continue to be a cause for concern and the council believes that further action is needed, particularly as the number of category 1 and 2 hazards found during inspections have been increasing since the scheme ended; up from nine in 2018/19 to 36 in 2019/20.

Excessive number

A council report says that the city’s private rented sector is growing with an excessive number of investors looking for an investment in the proposed area.

“Investor purchases are reducing the number of properties available to home seekers and driving prices up,” it explains.

“A designation would allow the council to work in supporting and educating those landlords who are not providing good quality accommodation or managing their tenancies effectively and removing ‘rogue landlords’ altogether.”

This summer, Salford introduced landlord licensing for small HMOs with three or four tenants, across the whole of the city. It runs alongside the current mandatory scheme, which covers larger five or more person HMOs, and its other selective licence areas.

It reports that over the life of its licensing scheme, 18 offences have been successfully prosecuted with fines totalling more than £22,000.

The proposed scheme’s consultation period runs for 12 weeks until 1st February.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: Major NW council prepares major selective licensing expansion | LandlordZONE.

View Full Article: BREAKING: Major NW council prepares major selective licensing expansion

LATEST: More property educators sign-up to join bold new accreditation scheme

admin    Uncategorized     agents

Another 11 property educators have applied to join a new industry group and are now going through the vetting process.

The Property Educators Accreditation Scheme (PEAS) aims to help property investors identify credible property educators, create greater transparency and increase protection for those accessing property education.

All members go through a rigorous six-month-long process that is likely to deter less genuine applicants.

Verified individuals who have bought products or services from applicant members can now comment on live applications during the probation period. Click here to view all live applications.

Launched in September, its founder members are John Howard, Mark Lloyd of Property Master Academy, Ranjan Bhattacharya of Succeed in Property and property consultant David Temple.

The Property Investors Bureau estimates that there could be thousands of property educators in the UK. 

A spokesman tells LandlordZONE: “Once property educators have applied, they go through a rigorous process to help us identify whether or not PEAS is right for them.

“The goal is to build a sustainable future for the property education sector by providing self-regulation for educators and security for consumers who are purchasing property education products.”

The three membership levels are: associate – which does not require the applicant to own property or have previously invested in property but they need at least two years of relevant property education experience; member – at least two years of relevant property education experience and two years of property investment experience in the main education area they want to be accredited for; and fellow – at least seven years of relevant property education experience and more than 10 years of property investment experience in the main education area.

Click here to view the full list of existing PEAS members.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: More property educators sign-up to join bold new accreditation scheme | LandlordZONE.

View Full Article: LATEST: More property educators sign-up to join bold new accreditation scheme

High yield cities and property types

admin    Uncategorized     agents

Research by Sequre Property Investment, has revealed which major cities are home to the largest level of high yield rental homes, as well as which property type presents the best opportunity for a robust buy-to-let return. Looking at current market stock looking at the level of high-yield investment opportunities available across 18 major cities across the nation.

The post High yield cities and property types appeared first on Property118.

View Full Article: High yield cities and property types

Luton landlords ‘furious’ after council blames HMO death on licensing campaign group

admin    Uncategorized     agents

Luton landlords have expressed anger that they have been implicated in a fatality at an HMO after challenging the town’s licensing plans.

Inflammatory councillors’ comments – reported in the local media – about its delayed selective licensing scheme demonise the private rented sector, according to one angry landlord who says that rather than treating them as scapegoats, the media should raise questions about why the council did not regulate HMO properties once its additional licensing scheme had expired.

Earlier this year, Luton Council was thwarted in its attempts to introduce a scheme, partly through the campaigning work of local landlords and letting agents, who formed Luton Landlords and Letting Agents Ltd to launch a legal challenge, and partly due to its own mistakes.

The authority admitted errors in its implementation and decision-making after it transpired it didn’t have the authority to make a designation, making attempts to introduce the scheme unlawful.

Fatality

Labour South councillor Javeria Hussain told a council meeting: “There was a fatality, a very sad death, in South ward where it was an unlicensed HMO in very bad condition.

“If we’d had that extra money from the income which would have arisen, we would have been able to fund these additional officers, one of whom perhaps would have prevented that death happening.”

One landlord, who doesn’t want to be named, has told LandlordZONE that the comments and article on the Luton Today website about the council meeting imply that if a group of agents and landlords hadn’t raised the challenge against selective licensing, the accident may have been avoided.

He says: “The tragic death and issues with South ward have clearly been stated by the council to be connected with unregistered HMO properties. The council had the power to renew the additional HMO licensing scheme and chose not to do so, which has left these properties unregulated since 2018″.

Read more about the HMO fatality.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Luton landlords ‘furious’ after council blames HMO death on licensing campaign group | LandlordZONE.

View Full Article: Luton landlords ‘furious’ after council blames HMO death on licensing campaign group

BofE Governor feeling uneasy

admin    Uncategorized     agents

The Bank of England Governor, Andrew Bailey, was giving evidence to the Commons Treasury select committee and told them: “I’m very uneasy about the inflation situation. I want to be very clear on that. It is not, of course, where we wanted to be

The post BofE Governor feeling uneasy appeared first on Property118.

View Full Article: BofE Governor feeling uneasy

First-time landlord warns others over letting agent who cost her thousands

admin    Uncategorized     agents

A new landlord has warned others about using a letting agent who faked documents to try and convince her to invest in a buy-to-let and failed to use a tenancy deposit scheme at another property.

Nelly Berova bought a flat in Birkenhead last December (main picture) and used Peninsular Property Consultants North West to find a tenant.

Director Joe Bindley (pictured) told her he had put the deposit in a scheme and then suggested she invest £70,000 in another house he had found through a local property sourcing firm.

Berova paid him the £1,200 fee and started the survey process. When problems were flagged up, she says Bindley dismissed them and provided documents proving roofing and electrical work had been carried out – which were later found out to be fake. Nelly then pulled out of the purchase.

Meanwhile, at her first property, the tenant stopped paying rent and when Nelly contacted her, she was told Bindley had entered the property without prior agreement, cut the gas off and put up an eviction notice.

She then found out that the deposit had not been lodged with an authorised protection scheme and Berova has had to stump up £1,840 in compensation to the tenant. The agent has so far cost her more than £4,500, she says.

No comment

LandlordZONE contacted Bindley for comment. He said he was “more than happy to have any input however unfortunately I no longer have any capacity to comment or act on the company’s behalf”.

He then suggested LandlordZONE contact Becky at Bespoke Insolvency and “she’ll deal with anything required”.

It is understood that his former company’s financial affairs are being handled by Bespoke, but the business is now under new management and ownership trading as Peninsula Property. Its new owners say Bindley is no longer associated with the firm, although his profile picture and bio remains on its website.

Nelly (pictured) says she has approached Peninsula Property Consultants North West’s redress scheme the PRS for help, but the organisation’s remit prevents it from dealing with companies that are not members anymore and/or which have gone into liquidation.

A spokesperson says its compliance officer will keep an eye out to see if the new incarnation of Peninsula Property joins its scheme, and also for any references to Bindley. It suggests Berova contacts local trading standards or the police if she wishes to take further action.

“To top it all, my tenant has stopped paying rent again and disappeared so it looks like I’ll need to evict her,” says Berova.

“The liquidation company registered my claim but said there’s no point taking him to court as there are no assets in the company. I probably won’t get my money back but at least want to prevent others from being burned by him.” 

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – First-time landlord warns others over letting agent who cost her thousands | LandlordZONE.

View Full Article: First-time landlord warns others over letting agent who cost her thousands

Can I go back to HMRC and request an amendment to Probate?

admin    Uncategorized     agents

My mother-in-law passed away earlier this year. I got a valuation and applied for probate. The total assets were below the IHT threshold. The house is now on the market and the value has gone up by £75k, which makes me think the original valuation was a bit low.

The post Can I go back to HMRC and request an amendment to Probate? appeared first on Property118.

View Full Article: Can I go back to HMRC and request an amendment to Probate?