Winter of Discontent: All electric leasehold property question

admin    Uncategorized     agents

Hello everyone, What are peoples thoughts re a landlord’s requirement to provide heating in an all-electric leasehold flat, please, and what can be used should there be power cuts?

There is no open fireplace.

For emergency hot drinks

View Full Article: Winter of Discontent: All electric leasehold property question

No concession for student landlords under tenancy reform plans

admin    Uncategorized     agents

The Department for Levelling Up, Housing & Communities (DLUHC) has dismissed concerns from HMO student landlords that its plans to bring in periodic tenancies will damage the sector.

Under the proposals, students will be able to give two months’ notice at any time, making finding a replacement very difficult, according to the Northampton Student Landlords Network, which voiced its concerns to the government.

Academic year

In its response, the DLUHC explains that while it expects most students to continue to move in line with the academic year, some might face circumstances beyond their control and will need to vacate a property early, or could be locked into contracts for poor quality housing.

A department spokesman says: “Some students have families, local roots, live with non-students, or have other reasons why they may wish to remain in the property. We do not think it would be fair to apply different rules to students who often require the same level of security as other tenants, or face poor standards within the private rented sector. Therefore, all students who are renting a private home will have periodic tenancies, providing the same certainty as all other tenants will enjoy.”

Vigorous standards

It adds that it is fair to exclude purpose-built student accommodation landlords who have joined government approved codes of practice from the new regime as these codes set, “vigorous standards for the safety of student accommodation, the management of the property and the relationship between managers and student tenants”.

The network’s Jacqueline Abbott (pictured) believes the department’s response makes for disappointing reading.

“It feels like it’s a done deal with regards the government’s stance on students and fixed-term contracts,” she says, expressing the hope that it still might allow a tenant to agree to a fixed-term tenancy where it is mutually beneficial for both parties.

View Full Article: No concession for student landlords under tenancy reform plans

Welcome private landlords, don’t scare them off, warns agent

admin    Uncategorized     agents

A Scots letting agent has slammed the country’s relentless pressure on the PRS which is driving out much-needed landlords.

Glasgow-based Riccardo Giovanacci believes the trope of the rogue landlord is deeply embedded in much of the current thinking around housing needs but that the overwhelming majority of players in the PRS are wholly supportive of cleaning up and regulating the sector. Its positive contribution to the ongoing housing crisis can seem not only to be overlooked, but to be actively denigrated and obstructed, says the managing director of Newton Letting.

Prodigious rate

He tells Scottish Housing News that although news stories suggest landlords are pushing up rents at a prodigious rate, what is not generally known is that rents in Scotland are only now belatedly catching up to those in England.

“What landlords and agents have to do is be much better and much more proactive about explaining to tenants and their representative organisations the reasons behind increases, such as the greater costs that they face,” says Giovanacci. “The only way to ease the pressure on stock – and the consequent rent inflation – is to attract more landlords into the market, but little, if anything, is being done at political levels to encourage this. Quite the reverse – the inclination seems to be to drive them out.”

Current climate

While tax incentives would be the obvious way to stem the haemorrhaging of stock, that seems unlikely in the current climate, he adds. “Perhaps what might attract more entrants to the market is the reality that there are still some good deals to be done if people are prepared to look just that bit harder and, in inflationary times, the PRS is a much better bet than keeping depreciating money in the bank.”

View Full Article: Welcome private landlords, don’t scare them off, warns agent

Council rejects registration bid from very rogue potential landlord

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A convicted murderer who was jailed for life has been blocked from being entered on Glasgow’s register of private landlords.

Morton Eadie, who was involved in a hit on a man in the street in 2018, was turned down by the council, which ruled he was not a fit and proper person, reports the Glasgow Evening Times.

Ongoing trial

A council official said it had been told about the ongoing trial when it first received his application to join the register. Eadie was then convicted on 9^th February. His daughter-in-law told the committee she intends to take over the running of the property in the Wyndford area of the city and has spoken to letting agents over managing it on her behalf. She said the home had previously been let out by a property management firm.

Life imprisonment

Eadie was sentenced to life imprisonment, with 22 years before he can seek parole, for the shooting of Kenny Reilly in Maryhill, along with three other men – Darren Eadie, Ross Fisher and John Kennedy. All four were also convicted of attempting to defeat the ends of justice by setting fire to a car in Craigieburn Garden in a bid to destroy evidence.

It was reported at the time that Eadie was the getaway driver during the hit, which had been arranged by his son Darren. The men are hoping to overturn the guilty verdict at the Court of Criminal Appeal in Edinburgh.

View Full Article: Council rejects registration bid from very rogue potential landlord

Selling some properties to reduce our exposure to risk

admin    Uncategorized     agents

My wife and I only found Property118 a few months ago and we’ve since become huge fans. We have read dozens of your articles, mainly about the economic prospects for the rental property market, mortgages, strategies and tax.

Approximately half of our properties are on good fixed rates and the rest are on tracker mortgages without penalties for early repayment.

View Full Article: Selling some properties to reduce our exposure to risk

Generation Rent calls for rent freeze to fight rising bills

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Campaign group Generation Rent is calling for the government to impose a rent freeze to fight the cost-of-living crisis.

They have carried out a survey which shows that nearly half of private renters have faced a rent increase in the last year.

View Full Article: Generation Rent calls for rent freeze to fight rising bills

£400 energy rebate for 4 studio units when tenants are on the edge?

admin    Uncategorized     agents

How do my tenants get the £400 energy rebate when they pay their gas bills as part of their rent? I have a house in 4 studio units, the water and gas are included in the rent payment while electricity is paid for with a £1 coin meter in each unit which I collect and pay to the utility company.

View Full Article: £400 energy rebate for 4 studio units when tenants are on the edge?

The Landlord Exodus – opportunity of the decade?

admin    Uncategorized     agents

Simon Zutshi, founder of the property investors network, hasn’t exactly been quiet lately about what he thinks is the buying opportunity of the decade. It’s a new opportunity, a direct consequence of the current (crazy) market conditions.

Specifically

View Full Article: The Landlord Exodus – opportunity of the decade?