There’s nothing that will stop Landlord Sales Agency from getting your property portfolios sold in just 19 days

admin    Uncategorized     agents

Last year, because interest rates were so low and many landlords were incorporating, landlords weren’t thinking of selling. This year however tells a completely different story. Mortgages have shot up following high interest rates, leaving an innumerable amount of landlords with impossibly large bills.

View Full Article: There’s nothing that will stop Landlord Sales Agency from getting your property portfolios sold in just 19 days

Amended rules for landlords on fitting carbon monoxide alarms

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Landlords in England have since October 2015 been required to install carbon monoxide alarms in their residential rented accommodation where a solid fuel solid fuel heating appliance was fitted.

This would include all open fireplaces that were available to be used, that is where the flue was not blocked off.

The new regulations now drafted extend the requirement for these alarms to be fitted where there is any type of fixed combustions appliance, such as gas heaters, cookers and boilers. A Draft Statutory Instrument was laid before Parliament on 11 May 2022. When approved this amendment will come into force on 1 October 2022.

For many years experts have questioned the wisdom of excluding gas appliances from the requirement to have a CO alarm in the room, so this amendment will now rectify this oversight. Landlords now have this lead time to sources and properly install a suitable CO alarm in rooms where a gas appliance is fitted.

The new regulations apply to rental houses and flats and to HMOs. The penalty for none compliance is a fine of up to £5,000. The amendment applies to England currently, but similar requirements are to be introduced in Wales through the Welsh Assembly’s Renting Homes Wales Act.

These amended rules under the Smoke and Carbon Monoxide Alarm (Amendment) Regulations 2022 include a new management requirement placing an obligation on the person responsible for managing the property to repair or replace a faulty carbon monoxide alarm when a tenant reports this defect. The regulation states:

“Regulation 5 amends regulation 4 of the 2015 Regulations. From the coming into force of these Regulations, relevant landlords of a specified tenancy are required to ensure that, during any period when the premises are occupied under the tenancy, a smoke alarm is equipped on every storey where there is a room used as living accommodation and a carbon monoxide alarm is equipped in any room used as living accommodation which contains a fixed combustion appliance (which is a wider duty to the previous requirement for a carbon monoxide alarm to be equipped in any room which contains a solid fuel-burning combustion appliance) except for gas cookers.

“The amended regulation 4 includes a new requirement to ensure that when a tenant (or a tenant’s nominated representative) reports that an alarm may not be in proper working order is made, and the alarm is found not to be in proper working order, the alarm must be repaired or replaced. New paragraph (3A) provides that the landlord must carry out the new requirements as soon as reasonably practicable.”

What is carbon monoxide (CO)?

This is a highly poisonous gas produced by the incomplete burning of any carbon fuel such as natural gas, liquefied petroleum gas (LPG) and solid fuels such as coal, coke and wood. It is likely to happen when appliances and flues have been incorrectly fitted, when repairs are not carried out correctly or when not regularly serviced by a qualified person.

Carbon monoxide will build up in a room when flues, chimneys or air vents are blocked and can be can become deadly to occupants.

It is especially dangerous because CO cannot be seen, tasted or smelled. It is easy to mistake its effects and symptoms for common ailments: colds, viruses and even a bad hangover. The main symptoms are: Headaches, Dizziness, Nausea, Breathlessness, Collapse, Loss of consciousness.

Warning flags should result when these symptoms only occur when a person is present in the room or home for a period where the appliances exist, and may abate when away from the room. It is also a flag when other household members all suffer the same symptoms.

What do you need to know about CO alarms?

Installing a Carbon Monoxide Detector & Alarm is usually a simple DIY task, with most detectors only requiring a couple of screws. Most battery alarms include long life batteries to minimise maintenance. Mains powered alarms which are better will obviously require expert fitting.

There is a wide range of carbon monoxide detection alarms available from the UK’s leading manufacturers, all Kite Marked and compliant with BS EN 50291. Battery or Mains Powered alarms, with varying features are available including brands such as Aico, FireAngel, Honeywell & Kidde.

It is suggested that landlords follow closely the alarm manufacturer’s instructions which typically say the alarm should be at head height between 1-3 meters away from the appliance.

It is advisable to get a qualified Part P and Gas Safe Engineer to install your smoke and carbon monoxide alarms in your rental properties. If you do install them yourself you should have the Gas Safe engineer to check them when carrying out the annual gas safety checks.

Requirement to ensure the alarms are in working order

The landlord of agent is specifically required to carry out a check to ensure that smoke alarms or carbon monoxide alarms are in proper working order on the day a tenancy begins where it is a new tenancy and with these new regulations the landlord is under an obligation to repair / replace if the tenant reports a defect.

From the landlord / agents’ point of view it is safest to assume an ongoing obligation to ensure that smoke alarms and carbon monoxide alarms installed in their properties are in proper working order at all times because tenants may not always do this. It has been known for tenants to remove batteries from these devices.

It is always best and safest therefore that landlords of rental properties assume this responsibility for the checks when carrying out regular property inspections, and to have them included in the annual gas safety checks carried out by a Gas Safe engineer.

Tenants should also be advised (and written into the tenancy agreement) to test smoke and CO alarms themselves regularly and clean them with a vacuum soft brush attachment to make sure dust particles don’t build up around the sensors.

In some models batteries will need to be changed annually, though most makes now provide alarms with 10 year battery operation. Even mains wired alarms will have a battery back-up. After ten years, it’s probably best to fit a whole new alarm.

Regular inspections should include testing the functioning of all alarms fitted in the property and this process should be fully documented to prove this was done. There is grey area in the rules here when landlords try to place the responsibility to check the alarms are working onto the tenant.

Who must comply with the alarm requirements?

The requirements are imposed on the immediate landlord of the tenant, including when any tenancies are granted through subletting.

In addition, as this is now a mandatory licensing condition, if the property requires a mandatory, additional or selective licence, then it is the responsibility of the licence holder to ensure that suitable alarms are properly fitted in the property, tested and maintained in working order.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Amended rules for landlords on fitting carbon monoxide alarms | LandlordZONE.

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Seamless switching… Are you thinking of changing your agent? The experts at Belvoir advise

admin    Uncategorized     agents

We are all accustomed to regularly checking that we are getting the best deal with our fuel suppliers, investments, and insurance and if we find a better deal we know it’s time to switch. But as a landlord, when was the last time you sat down and gave thought as to whether or not you are working with the best agent? This does not mean finding a cheaper agent, it means finding the best agent to work with you so that your life as a landlord is made as easy as possible. Being a landlord is not without risk, but a good agent can help to reduce the risks by finding great tenants, ensuring your property is well maintained, advising on rents and of course making sure that you receive money that is owed to you without delay each month. A good agent will also communicate with their landlords regularly, informing them of the results of property inspections, the resolution of maintenance issues and of course advise on upcoming changes to legislation, so that landlords can avoid the hefty fines that can be a consequence of non-compliance.

If you have been with the same agent for a long period of time and rarely hear from them, or you are discontented with the service that is being provided to you, then it may be time to arrange a meeting so that you can voice your concerns. Providing your current agent with a chance to understand your views and make any necessary improvements is always a good first step, particularly if you have worked with the agent for some time. Communication is a two-way street, and landlords should feel that they are able to discuss matters freely with their agent, but if after doing so you think that concerns have not been addressed and your portfolio could be managed more effectively, don’t hesitate to switch. Fortunately, changing agents is not a complicated procedure – in fact your new agent will do the majority of the work for you. Here are five easy steps to help you make the switch…

1. Research your local area to find a new agent that you would like to work with. Visit the office, talk to the agent, meet the team and discuss all the matters that concern you so that you get a feel as to whether this is a company you can work with. Belvoir has offices nationwide and offers a complete management service with quarterly property inspections and exceedingly high standards of customer service, particularly with regards to legal compliance.
2. Check the terms and conditions of your current contract so that you know what the notice period is. If you find it difficult to locate where the notice period is within the contract you can always take your paperwork in to your local Belvoir office for them to check this for you. Once you have confirmed what the notice period is, make sure you write to your current agent informing them that you intend to give notice.
3. Once you have found the right agent to work for you, you should instruct them to manage your properties on your behalf. You will then need to complete all the necessary paperwork and provide the documentation that your new agent will require.
4. Once you are signed up with the new agent, they will liaise with your previous agent and deal with everything on your behalf. This removes the need for you having to embark on any potentially awkward conversations. Your new agent will also arrange for the collection of keys and paperwork, as well as checking the important safety certificates to ensure that your property is totally compliant with existing regulations.
5. If you already have a tenant in situ, Belvoir recommends that you give the new agent at least a month to make the switch so that they have sufficient time to communicate with the tenant, explaining that they are now acting on your behalf and providing them with all the information they will need, including new contact details for reporting maintenance issues or any other problems during the tenancy.

For more information on switching agents visit: https://www.belvoir.co.uk/switch/

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Seamless switching… Are you thinking of changing your agent? The experts at Belvoir advise | LandlordZONE.

View Full Article: Seamless switching… Are you thinking of changing your agent? The experts at Belvoir advise

Queen’s Jubilee – Average house prices were £1,891 in 1952

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Analysis from Key Later Life Finance ahead of the Platinum Jubilee shows house prices have increased 138 times in value during the Queen’s 70 years on the throne.

Average house prices were £1,891 in 1952 at the start of her reign and are now £260,771

View Full Article: Queen’s Jubilee – Average house prices were £1,891 in 1952

Welsh government clamps down on holiday let landlords with tougher council tax rules

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Landlords in Wales who rent out self-catering accommodation will no longer be able to dodge council tax under new and tighter rules announced by the Welsh government.

In its bid to crack down on the impact many holiday lets and second homes are having on communities and the Welsh language, properties let out as self-catering accommodation on an infrequent basis will be liable for council tax – an average of £1,777 for a band D property.

Increased letting criteria will ensure that self-catering properties are classed as non-domestic, only if they are being used for business purposes for the majority of the year.

The number of days within any 12-month period that they will be required to be made available to let has been increased from 140 to 252 days, and actually let, from 70 to 182 days. The order will come into force on 14th June and take effect on 1st April 2023.

Challenging

Rebecca Evans (pictured), Minister for Finance and Local Government, says she recognises that the stronger criteria might be challenging for some operators to meet.

“The purpose of the change is to help ensure property owners are making a fair contribution to local communities, for example by increasing their contribution to the local economy through greater letting activity or by paying council tax on their properties,” adds Evans.

Restrictions are tightening elsewhere in the UK; earlier this year, the Scottish government announced that councils could devise their own licensing scheme for Airbnb-style properties by October, with all operators required to apply for a licence by 1^st July 2024.

In England, second homes will need to be rented out for a minimum of 70 days per year to access small business rate relief, rather than paying council tax from April 2023. The government also confirmed that councils would soon have the power to double the standard council tax rate on any home left empty for longer than a year, rather than the current two years. 

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Welsh government clamps down on holiday let landlords with tougher council tax rules | LandlordZONE.

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Does this avoid being an HMO?

admin    Uncategorized     agents

I own a 3 bed flat, in my name, not a Ltd company. When the current tenancy ends I am thinking of letting two rooms out to individuals and retaining the third as a study/bedsit for myself. I pay council tax on my own family house where I reside most of the time.

View Full Article: Does this avoid being an HMO?

TONIGHT: Learn how to fund ALL of your property deals using none of your own money

admin    Uncategorized     agents

TONIGHT you are invited to participate in a very special live online Master Class, which could be an absolute GAME CHANGER for you.

Imagine if you could fund ALL of your property deals, how would that change your life?

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