Cost of Property maintenance increased 17% this winter

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Market analysis, by Benham and Reeves, has revealed how the cost of maintaining our homes this winter is as much as 17% higher than it was this time last year. They researched the average cost of maintaining a property which can include everything from cleaning the gutters

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Leading plumbing firm backs ground source heat pumps for rented properties

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A leading supplier to the private rental sector has backed the installation of ground source heat pumps, telling landlords that on balance they should consider installing them when gas boilers need wear out.

GK Plumbing has waded into the contentious topic following the Prime Minister’s recent plan to spend billions of pounds installing the technology into 600,000 homes by 2028.

Consensus on their appropriateness as an eco heating and hot water solution is far from assured despite the circa £5,000 grants available from the government – particularly as they still use electricity to drive the machinery – and the £10,000 to £18,000 that Which? recently said they cost to install.

Although ground source heat pumps are therefore more expensive to install than gas boilers, require access to a garden and use distinctly un-green hydrochlorofluorocarbons in their machinery, on balance Gareth Knell, founder of GK Plumbing (pictured) backs the technology for landlords.

Additional income

“Firstly, they require little maintenance,” he says. “So, the likelihood of receiving emergency call-outs in the middle of the night because the boiler has blown in the middle of winter are significantly reduced.

“If managed correctly, ground source heat pump technology also has the potential to generate an additional income for a landlord through the Renewable Heat Incentive.

“Also, they remove the risk of combustion, which can have a bearing on your building insurance. Lastly, ground source heat pump installation will also help you future proof your properties against coming legislation.

“There are pros and cons to every heating solution. But right now, ground source heat pumps do look to be one of the most efficient and cost-effective solutions for both homeowners and landlords of the future.”

Read more Tom Entwistle’s deep dive in the technology.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Leading plumbing firm backs ground source heat pumps for rented properties | LandlordZONE.

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Seasons Greetings from Court Enforcement Services

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2021 has been a year of constant change and challenges for everyone but for Court Enforcement Services, it’s been positive too.

Despite the difficulties created by the pandemic, we have had notable achievements this year.

We’ve grown

The latest industry data shows we achieved a market share gain for the sixth year running, making us the fastest growing company in the High Court enforcement sector.

As expected, there was a 30% drop in the number of writs issued in 2020 but despite this, we were very proud to increase our market share to 26%, making us officially the largest High Court enforcement company by volume.

To have achieved such a large market share in just six years is a huge achievement and would not have been possible without the commitment and hard work from our team and the support and trust of our clients.

We have also moved into a new and larger head office in Essex which creates room for our continued growth and brings all our office-based staff under one roof, the teams having previously occupied two separate buildings.

I have no doubt being under one roof will be beneficial for staff collaboration, engagement, and communication.

People news

Director, and co-founder Wayne Whitford was included in the Credit 500 index for the fifth consecutive year. This lists the most influential people in consumer and commercial credit during 2021. 

Also, three members of our management team were shortlisted for Women in Credit Awards this year. All three have made a significant contribution towards our growth and have played key roles in our journey to become the market leading High Court enforcement company.

With the dedication and commitment our team have demonstrated over the last year and by continuing to deliver market leading results for our clients, our expectation is that the next 12 months will be another period of significant growth for Court Enforcement Services.

Stakeholder relations

We have extended our reach significantly in 2021 becoming a Corporate Partner to the Chartered Institute of Credit Management (CICM) and joining the Civil Enforcement Association (CIVEA), the principal trade association for civil enforcement agencies.

We support the High Court Enforcement Officers Association (HCEOA) and have implemented their updated best practice guidelines and continue to support their various high-profile campaigns.

Court update

We have faced a period of 18 months of constant change and various pieces of temporary legislation being brought in at short notice to accommodate the dynamic changes caused by the pandemic. Finally, the enforcement industry is now in a position where we can enforce fully as we did pre pandemic – well, almost!

For Writs of Control, we are now enforcing at a level that exceeds our pre-pandemic performance levels. We continue to champion and strive for high levels of early engagement, currently achieving 39% early engagement during the compliance period.

Trespass and possession enforcement is back to normal; in the last few months we have serviced more residential repossessions than ever before in a similar time window and the signs are that this is set to further improve.

We are seeing cases expedited for High Court Enforcement much faster and the whole process seems to be moving along again after the stagnant period in which the Court delays due to Covid really did slow everything down.

Commercial properties and associated rent arrears continue to remain protected, to a degree, until March 2022.

While rent arrears can now be enforced for amounts due that exceed the equivalent of 554 days’ worth of rent, and, forfeiture of lease can be carried out for any reason with the exception of rent arrears, the real acid test for commercial property enforcement will be in March 2022 once the restrictions fall away.

Season’s greetings

It looks like 2022 will be a very exciting year for us and I would welcome you to share in our success by switching to Court Enforcement Services or by trialling our services to discover the difference we can make by improving the results achieved and enhancing your experience as a client.

On behalf of everyone at Court Enforcement Services, I wish you and yours a very Merry Christmas and a happy, healthy and prosperous New Year!

Call: 01993 220557
Email: bd@courtenforcementservices.co.uk
ww.courtenforcementservices.co.uk/landlord-zone-residential-evictions/

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Seasons Greetings from Court Enforcement Services | LandlordZONE.

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Property investment clubs to be more closely regulated reveals FCA

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The Financial Conduct Authority (FCA) has launched proposals that aim to better protect consumers when using financial services including property investment clubs.

Its consultation sets out ways to tackle the causes of harmful practices, with suggested rules to raise industry standards by putting the emphasis on firms to get products and services right in the first place.

Under a new Consumer Duty, firms will have to provide information they can understand, offer products and services that are fit for purpose and provide helpful customer service.

However, while the FCA’s remit covers property investment clubs – either collective investment schemes or alternative investment funds – which allow people to pool resources and invest in property often linked to developers, it does not cover unregulated property training companies and education programmes.

The FCA’s Consumer Duty proposals hope to bring about a fairer, more consumer‑focused and level playing field in which firms consistently put their customers’ interests at the centre of their businesses.

The FCA has also published draft guidance to help them prepare before it is introduced. 

Sheldon Mills (pictured), executive director of consumers and competition at the FCA, says that too often, consumers are not given the information they need to make good decisions and are sold products or services that don’t offer the benefits they might expect.

“We want to change that. We’ve been working to set a higher standard for firms, to put more of the onus on them to act in their customers’ interests and get their products and services right,” adds Mills, who says it will hold senior managers accountable if they don’t.

“The duty will also help create an environment for healthy competition between firms, encouraging them to be innovative in developing products and services that meet consumers’ needs.”

The consultation is open until 15th February and final rules are expected to be announced by July.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Property investment clubs to be more closely regulated reveals FCA | LandlordZONE.

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Tenants in arrears are falling further behind

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Average rent debts still owed by renters as a result of the pandemic have increased by 41% since May according to new research. A survey of over 2,000 private renters in England and Wales by research consultancy Dynata for the NRLA found that average COVID related rent arrears owed by affected tenants had increased to £1,270

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Bristol, Oxford and Cambridge best cities to invest in for 2022

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Aldermore’s Buy to Let City Tracker1, has named Bristol, Oxford and Cambridge as the best cities for landlords to invest in for 2022.

The Tracker analyses and assesses five key indicators that impact buy to let desirability: average total rent

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My latest UK Property Investment Deal

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See my new UK property investment deal and discover how you can apply this investing in property strategy in 2022.

In this video below, I share my latest Property Investment Deal secured with group funding.

Discover what this deal is all about and how you can find similar opportunities in 2022.

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LATEST: MPs launch probe into exempt accommodation sector and its landlords

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Birmingham Council’s report on its broken exempt accommodation sector has prompted a government inquiry.

The Levelling Up, Housing and Communities (LUHC) Committee is to investigate non-commissioned and unregulated supported housing around the UK and is calling for evidence.

Committee chair Clive Betts (pictured0 says he was concerned to hear about the problem from political leaders in the West Midlands, among others, where unscrupulous landlords were failing to provide the support and care that vulnerable tenants need, or to maintain their properties.

He adds: “When provided at a decent standard and with proper support, exempt accommodation can be a lifeline for extremely vulnerable people and a vital piece of the social housing landscape.

“But in the hands of neglectful landlords, pocketing taxpayer money to provide this housing, this accommodation can fall woefully short of the support that’s needed.”

Landlords are paid to provide support and care for tenants who include ex-prisoners, addicts, rough sleepers and fleeing survivors of domestic abuse – but this only has to be more than minimal to meet regulations.

Costs are met through Housing Benefit, with local authorities recovering some or all of the costs from the Department for Work and Pensions.

Curent model

The inquiry aims to study issues including whether the current model represents value for money, along with geographical and regional differences in the provision and whether a provider is registered or non-registered, commissioned or non-commissioned has an impact.

There were 153,701 households in exempt accommodation in England in May, an increase of 61.5% since 2016. The Regulator of Social Housing has already issued non-compliant regulatory judgements or notices against 13 providers and by July, this included three of the seven largest exempt accommodation providers in Birmingham, with three more providers subject to further review.

A council report revealed how a lack of regulatory powers in the city has led to soaring numbers of properties, prompting complaints about anti-social behaviour, drug use and safeguarding issues.

The closing date for submissions to the inquiry is 28th January. 

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: MPs launch probe into exempt accommodation sector and its landlords | LandlordZONE.

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