Can you afford for your buildings to fall behind on environmental standards?

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The commercial property industry is at a crossroads.

Industry experts are reporting sluggish growth and technology along with Covid-19 is having a huge impact on the way business is being done.

The Covid pandemic is just the latest in a long list of changes impacting on the industry, from the death of the high street, and extreme weather events, to the way tenant’s needs for physical space are changing due to the increased use of technology, and greater environment consciousness.

Extreme weather events have been occurring on an increasingly regular basis and many thousands of commercial buildings are built in floor areas. The Covid-19 pandemic is still an ongoing and serious concern for public health in the spaces where people live, work, and play.

Adapting and transforming

Transforming how buildings are constructed, configured internally and operated is going to be a key theme needed to address these crises. Owners are looking for opportunities to create better buildings, whether that means adapting operational practices or deciding how and where to invest in systems upgrades.

There is a growing commitment to measuring environmental, social, and governance (ESG) impacts. That is transitioning to resilient, low-carbon practices, improving public health, and better support for business, customers and communities in the UK commercial real estate sector.

A new report “A sustainable future for commercial real estate” has just been launched by Deepki, a leading European ESG data intelligence and consulting firm. The report shows that one-third of UK institutional commercial real estate investors and property professionals think that the ESG credentials of property assets will be an important factor in the investment decision-making process. 57% regard this as quite important, just 5% said they were neutral and 5% only said they weren’t important.

Growing importance of ESG

The majority of respondents in the Deepki study think that ESG building credentials will only grow in importance for to investors in UK commercial property over the next 12 months with 81% stating that it will become even more important in three years’ time. It underlines how critical is the commitment to addressing climate change and tackling the necessary steps to adapt buildings both for Covid-19 and to achieve Net Zero within the projected timescales.

Impact of the Covid-19 pandemic on ESG

Covid-19 has only served to accelerate the need for property owners and industry professionals to focus on ESG in commercial real estate. But many see the increased incidence of vacant commercial buildings as an opportunity to address ESG performance in them. It’s an ideal opportunity to do something about it, to carry our refurbishments that will not only address the new requirements needed for Covid, but also the environmental issues as well.

Key responses:

Deepki is a consultancy recently launched in the UK and offers a fully populated ESG data intelligence platform to help commercial real estate investors, owners and managers improve the ESG performance of their real estate assets, and in the process enhance their value.

Katie Whipp, Head of Deepki UK, says:

“Commercial real estate investors need to future-proof their investments, and strong ESG indicators are a key part of this, representing a trend which is set to continue. The Covid pandemic has also changed the focus on ESG in the sector in different ways, from owners having more time to review empty buildings, to a greater demand from tenants for higher standards.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Can you afford for your buildings to fall behind on environmental standards? | LandlordZONE.

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Much-publicised case of law student who sued landlord is a ‘warning to sector’

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A first-year law student who sued his landlord for breach of contract after claiming the halls he was due to move into weren’t fit to live in does not set a new precedent, a leading property lawyer has said, but is a wake-up call.

Jack Simm, 19, an undergraduate at the University of East Anglia, labelled the Norwich flat a ‘construction site’ and spent a year fighting the case, referring to statutes and case law that he’d learnt in his studies to build a 10-page legal claim.

He argued that his landlord was in breach of contract as there was no heating or wi-fi, dust everywhere and builders were still working in the accommodation when he moved in, in September 2020.

The undergraduate, from Newcastle, told Mail Online: “We gave the landlord a week to sort everything out and at the end, nothing had been resolved so I moved out and handed my keys in.”

Velocity Student accommodation was developed by the Freedman Project LLP and managed by Estateducation, which is also a landlord. The site is near to the campus developed on the site of a defunct pub.

Newcastle County Court ruled in Simm’s favour and ordered Freedman to pay £859 to cover his deposit and first month’s rent as well as £140 costs.

David Smith (pictured), property solicitor at JMW, tells LandlordZONE that this case is an exception rather than the rule and doesn’t expect it to prompt similar cases.

A lack of money, time or inclination are usually the reasons why tenants don’t sue their landlords, but Smith adds that this should serve as a warning for landlords that they need to fulfil their obligations and make sure a property is ready when a tenant moves in.

He adds: “The university housing service usually deals with cases like these and will come to a monetary agreement. Tenants are within their rights to walk away from a tenancy – but some don’t have that luxury.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Much-publicised case of law student who sued landlord is a ‘warning to sector’ | LandlordZONE.

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LATEST: Landlord leader voted ‘boss of the year’ at national awards

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Ben Beadle, Chief Executive of the National Residential Landlords Association (NRLA), has been voted Executive Director of the Year at an annual awards bash held online.

The award, which is one of nine gongs handed out yesterday to different trade organisations, is run by the UK Association, a trade body for the nation’s trade associations ranging across every sector of business activity from parking to sugar refining.

Beadle was up against two other candidates, John Newcomb of the Builders Merchant Federation, and Raisa McNab of the Association of Translation Companies.

The NRLA was also up for ‘Association of the Year’ but came second to the Incorporated Society of Musicians. It as also a finalist for the best podcast of the year.

The 16 judges praised Ben, who became the NRLA’s Chief Executive in September 2019, saying: “He clearly demonstrates engaged and active leadership of the NRLA staff and its members. He has made a great impact on the association as a whole”.

Beadle tells LandlordZONE: “I am grateful for the award and for the recognition of the work that the NRLA is doing.

“We have made significant strides since its creation, and it is heartening to see the organisation growing at all levels, giving members the support they need at such a critical time.”

In April last year, just before Covid struck in earnest,  the NRLA was created by two former trade groups – the RLA and the NLA – joining forces.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Landlord leader voted ‘boss of the year’ at national awards | LandlordZONE.

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Bank Base Rate increased to 0.25%

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It has started: The Bank of England Monetary Policy Committee (MPC) voted by a majority of 8-1 to increase Bank Rate by 0.15% to 0.25%. They did however vote to maintain Quantitative Easing (QE) at the current levels and not take any liquidity out of the market.

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Selling up? We’ve got buyers who’ll pay best price for your portfolio

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The recent regulatory and tax changes for landlords across the UK are hitting the sector hard and it’s why so many LandlordZONE readers are reaching out to Landlord Sales Agency to sell.
We are a specialist company who have mastered the most efficient ways to solve the problems landlords encounter when selling rental property, with the least cost and disruption.
No matter whether it’s a rental property in need of refurbishment, a private let, an HMO or whether it’s a whole portfolio, Landlord Sales Agency are the industry leaders at helping you get the highest price with the least stress. We are:

• FASTER than anyone else at selling buy-to-lets (7 to 28 days)
• THE BEST at getting the highest price possible for your rentals and portfolios.
• FAMED for our database of over 30,000 private buyers ready to buy no matter what the condition.
• CAREFUL to offer the most efficient covid guidelines to ensure that restrictions don’t hold up your sale.
• OWNED by portfolio exit specialist and co-founder of the NAPB, David Coughlin, who ensures he’s personally involved in every case to make sure they deliver for you.

Why now?

The market is high. Sky high. But the window of opportunity is closing, and we’re unlikely to get prices like this again for another seven years.
Over the last decade a huge proportion of landlords have been enjoying rental yields from portfolios and HMOs they’ve built up over the years.
But if the eviction bans, increased taxes, and constantly changing regulations have taught us anything, it’s that we’re finally at the crossroads where many landlords want to take a big cash sum and retire without the hassle of managing a large portfolio, letting agency or complex accounting.
If you’ve been waiting for the right opportunity then that time has come, and with just weeks to go until the end of the year, the time to take action is now.

If you’re looking to sell and cash in while the market is high, and before house prices drop again, there’s no better company to do it for you.

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©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Selling up? We’ve got buyers who’ll pay best price for your portfolio | LandlordZONE.

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Plans for basement with separate dwelling stalled?

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I own two mortgage leasehold titles in a house that is split into two flats – A and B. I also own the freehold title which doesn’t have a mortgage, which I am looking to transfer into a company structure.

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The PERFECT Property Investment Strategy For 2022

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I’m going door to door to let you know the PERFECT property investment strategy for 2022.

At Christmas, you tell the truth, and the truth is the market is changing in the new year.

What would you say if I rocked up on your doorstep?

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