Labour MP suggests landlords are now ‘cherry picking’ least risky tenants

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Labour appears to be implying that landlords and agents are seeking less risky tenants, after pledging to introduce a new renters’ charter.

Following shadow housing secretary Lisa Nandy’s pledge to end automatic repossessions for rent arrears and increase notice periods in her conference speech, Rachael Maskell MP (pictured) asked the Housing Secretary if he would be making an “assessment of the equity of requirements for prospective tenants to demonstrate a level income to landlords and letting agents that is significantly in excess of the monthly rent required”.

New Housing Minister Andrew Stephenson replied that the government continued to encourage private landlords and letting agents to assess the suitability of potential and existing tenants on an individual basis. 

Fair deal

He added: “A fair deal for renters remains a priority, and I am currently reviewing next steps following the publication of the A Fairer Private Rented Sector white paper and will update Parliament in due course.”

The NRLA’s Ben Beadle has criticised Labour’s announcement for demonising all landlords, while some legal experts have voiced concerns that the Fairer Renting white paper – which includes the scrapping of Section 21 eviction powers, reform to possession grounds, open-ended tenancies, a landlord register and a property portal – tars investors with the same brush, by assuming that they abuse their position.

An NRLA spokesman tells LandlordZONE: “Every tenant should be treated on a case-by-case basis and assessed on their ability to sustain a tenancy.

“With tenants and landlords facing a cost-of-living squeeze, the government needs to do much more to help vulnerable tenants to pay their rent in full and on time.

“This should include unfreezing housing benefit rates and developing pro-growth tax plans to boost the supply of rental properties which remains the biggest factor determining rents.”

View Full Article: Labour MP suggests landlords are now ‘cherry picking’ least risky tenants

Scots short-lets landlords must get new property licences by 1st April

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Scotland’s new short-term lets law goes live on 1^st October when any new landlords will need to apply for a licence.

Those already letting their property have until 1st April to apply and will need to prove that they used the property for short-term lets before 1st October. 

The country’s Short-Term Lets Licensing Order requires all Scottish councils to have a licensing system with the aim of protecting communities in areas with high visitor numbers. Each council will set the licence cost, which is likely to vary depending on the property size and type of let. 

Propertymark now wants the Scottish government to further clarify the definition of a short-term let to ensure the system operates as intended.

It has proposed two amendments to the order that would make clear that a holiday let falls within the scope of the definition of a short-term let and ensure that HMO landlords are not subject to duplicate licensing requirements.

Health and safety

Brian Moran, Propertymark’s regional executive for Scotland (pictured), says: “Such an amendment to the HMO definition would have the additional benefit of affording contract and transient workers the same health and safety rights as those that reside in a shared rented property full-time.”

However, he says it’s positive to see the Scottish government taking proactive steps to ensure renters’ safety. “With Edinburgh in particular faced with an overhaul of short-term lets, licensing will now enable the local authority to control the number available within the capital and encourage longer term rentals which are desperately needed in order to compete with growing demand,” adds Moran.

View Full Article: Scots short-lets landlords must get new property licences by 1st April

FREE webinar: Join the deposit protection experts as they discuss the importance of resolution

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Dealing with problems is part and parcel of being a landlord and letting agent, but a slow and drawn-out resolution doesn’t need to be.

Join tenancy deposit experts, Suzy Hershman (main pic), Head of Dispute Resolution and Emma Louka (main pic, inset), Adjudication Lead at mydeposits, for their ‘Working together on resolution’ webinar on 6 October at 10am, as they explain how fast and effective resolution can save everyone a property related headache.

Suzy and Emma explain:

• Why it is important to negotiate, and how to do it successfully
• How to prepare robust evidence in the event of a dispute
• Why you should always have a comprehensive property inventory 
• The difference between landlord and tenant responsibilities
• What is classed as a potentially unfair clause
• Common complaints and how to handle them
• The benefit of early resolution

The webinar is free to attend, with useful case studies and practical advice that can help you avoid potentially costly disputes and maintain lasting relationships with your tenants.

Register for the free mydeposits webinar here.

View Full Article: FREE webinar: Join the deposit protection experts as they discuss the importance of resolution

Lenders want EPC A & B for best rates!!!

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Hi, Just checking mortgage borrowing rates this morning and came across two products with NatWest and The Royal Bank of Scotland, both asking for EPC’s of A and B to apply for their best fixed rate mortgage products on a five year fixed rate deal!

View Full Article: Lenders want EPC A & B for best rates!!!

Sell, incorporate, get a job or all three?

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My wife and I have nearly £2,000,000 on fixed-rate mortgages that are due to expire in January 2023 – YIKES!

The LTV across our portfolio is somewhere between 40% and 50% and in recent years our rental income has been apportioned at around 33% finance costs

View Full Article: Sell, incorporate, get a job or all three?

Changing estate agents, how easy is it?

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Hi, I’m renting out one property through a local estate agent, paying 11% of the rental value to them.

I have really good long term renters in and happy to keep the renters (renewed in March for another 12 months).

View Full Article: Changing estate agents, how easy is it?

Rental market is ‘still underpinned by high demand’

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Demand from tenants for a home to rent is creating a market that is like a ‘pressure cooker getting hotter’.

That’s the verdict from Nathan Emerson, the chief executive of Propertymark, who says that the number of new tenants being registered per member branch reached a new peak at 141 in August.

View Full Article: Rental market is ‘still underpinned by high demand’