Build-to-rent giant takes a side-swipe at landlords as it trumpets benefits

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Build-to-rent developer Grainger has taken a dig at private landlords by extolling the virtues of the purpose-built sector.

Naming decorating restrictions and restrictive tenancies as some of the common myths around rental properties – obliquely referring to the perceived drawbacks of the traditional PRS – resident services manager James Bell says contrary to popular belief, those in a rental property aren’t completely limited when it comes to decorating or doing DIY.

“Some build-to-rent operators go one step further and in many properties allow residents to paint the walls within their apartment, providing they have signed up for a reasonable length of tenancy and that the space is returned to its original condition before vacating the property,” he explains.

Unbreakable

Bell says another common myth is that renting involves lengthy unbreakable contracts that can incur charges when a contract or lease is prematurely ended by a tenant.

“Many build-to-rent developments offer flexible solutions for residents, such as ‘stay as long as you want’ tenancy options in the case of Grainger,” he adds.

“This flexibility offers residents peace of mind, as well as the opportunity to relocate, downsize or upsize at far greater ease.”

Although all landlords will soon have to accept reasonable requests for pets as part of the new renting reforms, he says Grainger already has multiple pet-friendly properties which allow residents to live with their furry friends at home.

“Some developments even offer residents doggy bowls, water, and treats for dogs,” adds Bell.

Read more about BTR.

View Full Article: Build-to-rent giant takes a side-swipe at landlords as it trumpets benefits

40% of privately rented homes won’t make 2028 deadline – agents claim

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Forty per cent of privately rented homes in England are unlikely to achieve the energy efficiency rating target that is due to come into force in 2028.

Trade organisation Propertymark says its analysis of the latest English Housing Survey shows that 60 per cent of the rental sector will have achieved the minimum EPC C rating by that year, leaving the rest technically unable to be rented out.

The draft strategy includes a ‘preferred policy scenario’ for new tenancies to have a valid EPC rating of ‘C’ or above by 2025, extending to all tenancies by 2028.

But Propertymark is calling for the UK Government to move away from a one-size-fits-all policy in favour of energy efficiency proposals that consider a property’s age, condition, and size rather than its tenure.

Its Lagging Behind report highlights the variances in retrofitting costs based on individual characteristics and regional property values.

It includes proposals for local councils to develop ‘one stop shops’ to engage with landlords to find suitable methods to facilitate retrofit at pace which has also been recommended by stakeholders such as the Local Government Association.

Incentive?

“We knew it would be a huge challenge for the PRS to achieve the proposed 2028 target because the owners of rental properties will not directly benefit from lower energy bills, so where is their incentive?” says Timothy Douglas, (pictured) Head of Policy and Campaigns for Propertymark.

“The data in the English Housing Survey shows just how far there is to go.

“Our member agents are already seeing rental properties disappearing from the market for a variety of reasons and there is a real danger more could go with the EPC rating target hanging over them.”

Read more: Ultiamte guide to MEES and the EPC system.

View Full Article: 40% of privately rented homes won’t make 2028 deadline – agents claim

LATEST: Councils mount ‘flurry’ of new initiatives to regulate HMOs

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Councils around the country are launching a flurry of HMO rules and proposals – in York, North Northamptonshire and Hounslow.

York Council hopes to introduce additional HMO licensing in eight of the city’s wards: Hull Road, Guildhall, Fishergate, Clifton, Heworth, Micklegate, Osbaldwick and Derwent, Fulford and Heslington.

This would increase the number of properties needing a licence from about 1,000 to 3,000, in a scheme scheduled to start in April 2023.

The council aims to improve health and safety standards and HMO management after a consultation shaped new recommendations in a report which will go to the council’s executive on 28th July.

In North Northamptonshire, residents are being asked to take part in a two-month public consultation to explain how they’ve been affected by HMOs.

They can even pinpoint specific properties where they have had issues. It follows a council plan to scrutinise the level of HMOs in six key areas: Kingswood and Hazel Leys, Corby West, Clover Hill and Northall in Kettering, Finedon, and Croyland and Swanspool in Wellingborough.

The council says it wants to work with landlords, tenants and other stakeholders to use “the whole suite of regulation and planning requirements”, which could include an Article 4 direction.

Read more: Ultimate guide to HMOs.

Meanwhile, Hounslow Council has introduced an Article 4 direction for landlords wanting planning permission to covert family homes into HMOs. It says the new measure – which takes effect in a year’s time – aims to address increasing concerns among residents about the negative impact of HMOs in their local communities, which have been blighted by an increased level of anti-social behaviour, fly-tipping and noise.

Councillor Tom Bruce (pictured), cabinet member for regeneration and development, says: “It’s clear that many HMOs are having a detrimental impact on the local community and this new measure will ensure thorough oversight – protecting both the tenants in HMOs and the communities that surround them.”

A consultation runs until 9th September.

Read more about York landlords.

View Full Article: LATEST: Councils mount ‘flurry’ of new initiatives to regulate HMOs

Have your say on the Renters Reform White Paper

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The Levelling Up, Housing and Communities select committee is launching a probe into the Renters Reform White Paper and is asking for evidence to answer a list of questions they consider unanswered. The closing date for submissions is 19 August 2022.

View Full Article: Have your say on the Renters Reform White Paper

Keep yourself up to date at the next Virtual National pin Meeting

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It is so important at the moment to keep up to date with the Property Market. On Wednesday 3rd August at 6 pm, the property investors network will be running their Virtual August National pin Meeting.

There are three amazing speakers

View Full Article: Keep yourself up to date at the next Virtual National pin Meeting

Cost of EPC improvements exceed landlord pain thresholds

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There is a gulf between the amount that landlords are willing to pay to meet proposed new EPC requirements and what it is actually likely to cost.

A survey of landlords carried out on behalf of Paragon Bank has found that 77% of landlords are willing to spend up to £3,000 to upgrade each property they own to EPC C in order to meet new regulations proposed by the Government

View Full Article: Cost of EPC improvements exceed landlord pain thresholds