Making good to the original decor?

admin    Uncategorized     agents

I currently find myself in quite an unusual situation, please could I kindly ask what, if any experience, do the readers have of this?

My Tenant of 4 years has given notice to end the tenancy.  The original letting agent closed their offices in the town some 3 years ago

View Full Article: Making good to the original decor?

Thinking of moving your properties to a limited company? – Webinar 21st February

admin    Uncategorized     agents

We’re pleased to announce yet another addition to our ongoing series with Alphaletz, the Property Management Software for Landlords.

If you’re considering moving your properties into a limited company for whatever reason, you’ll find this webinar incredibly helpful.

View Full Article: Thinking of moving your properties to a limited company? – Webinar 21st February

Home Office warns self-managing landlords’ over Right to Rent

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Official research has found that self-managing landlords are the least prepared when dealing with the legal requirements of the official Right to Rent scheme.

It requires landlords of privately rented accommodation to conduct checks on all new tenants to establish if they have a legal right to be in the UK and therefore have the right to rent, with stiff penalties for those who knowingly dodge completing the checks.

The Government research included a ‘mystery shopper’ exercise involving 2,000 tenants who approached landlords and agents, plus some 300 interviews with landlords.

This was all undertaken by independent canvassers at BVA BDRC with Professor Kath Scanlon of The London School of Economics and Political Science.

Least likely

It found that those landlords who don’t use a letting agent are the least likely to fully understand their legal responsibilities when onboarding new tenants via the Right to Rent scheme.

Although overall awareness of the scheme has been growing fast since its introduction in 2015, only half of all landlords who claimed knowledge of the scheme considered themselves ‘well or quite well’ informed.

Read more: the ultimate guide to Right to Rent checks.

The survey also looked at whether the scheme had created greater discriminatory behaviour towards tenants by landlords, with 19% being aware of tenants being discriminated against on the basis of their ‘actual or perceived nationality, race or ethnic background’.

“It is clear from this review that self-managing landlords have a knowledge gap and it’s not surprising,” says Nathan Emerson, CEO of Propertymark.

“Right to Rent has been through many complex changes in the last three years with COVID-19 lockdowns, the end of freedom of movement due to the UK’s exit from the EU and the introduction of the Home Office’s real time digital systems.

“Professional agents, particularly those in membership with a body like Propertymark, taking their compliance responsibilities seriously dedicate time and CPD to ensuring they are fully compliant.”

Read the Home Office report in full.

View Full Article: Home Office warns self-managing landlords’ over Right to Rent

APPI – the ethical landlord’s organisation

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If you are an ethical landlord with concerns about how the private rented sector is viewed and care about your tenants, then the Association of Professional Property Investors (APPI) could be for you.

The organisation’s Michelle Montgomery says there is a need for ethical landlords to work together to change the perception of the sector which has been tarnished by criminal landlords.

View Full Article: APPI – the ethical landlord’s organisation

Section 13 rent increase and the Tribunal?

admin    Uncategorized     agents

Hello, my tenants are on a periodic tenancy, only because they refuse to sign a new Tenancy Agreement.

Recently I served a section 13 to increase the rent up to the current market value, but the Tenant only offered fifty pounds

View Full Article: Section 13 rent increase and the Tribunal?

Majority of landlords have ‘no idea’ about EPC deadline and costs, survey reveals

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Most landlords are still in the dark about EPC changes, a new survey has found, raising fears that they could be blindsided when proposed new rules become law in 2025.

Only 57% of landlords with a single property and 77% of those with four or more properties in their portfolio aren’t aware of the need to get new properties up to an EPC grade C while just 38% fully understand what the new regulations will entail, according to Market Financial Solutions’ (MFS) poll of 459 investors.

Despite this lack of awareness, there is surprising support for the changes as 48% believe the government is right to take action to improve the energy efficiency of rental properties. However, a significant majority (64%) of landlords are unsure of how to make their properties more efficient and 65% want more support to help them adapt their homes

Those planning changes cite replacing lightbulbs with LED lighting (73%), loft or wall insulation (70%), new windows (68%), installing a smart meter (67%), and installing energy efficient kitchen appliances (64%).

Rents

MFS reports that just 15% of landlords have spoken to a broker or lender about securing finance to improve their property’s energy efficiency while 52% are considering increasing rents to pay for any renovations needed to comply with the new regulations.

This number falls to 42% among landlords aged 55 or over, which could point to older landlords having more capital.

CEO Paresh Raja (pictured) says that in the current climate, many landlords will not have the liquid capital needed to make energy efficiency changes to their properties.

“Flexible financial options – like bridging loans or BTL mortgages – could prove vital for landlords who are looking to keep up with a rapidly changing regulatory landscape,” he adds.

Read more about EPCs.

View Full Article: Majority of landlords have ‘no idea’ about EPC deadline and costs, survey reveals

Looming Section 8 eviction reforms will be ‘unwieldy and difficult’ says leading lawyer

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Property lawyers have flagged up potential problems with eviction reform measures within the Renters Reform Bill white paper.

An amendment to Section 8 notice evictions will expand the range of circumstances where landlords can seek possession when needing to sell or allow themselves or a close family member to move back into a property.

A new mandatory ground for repeated serious arrears will mean that possession orders will be granted irrespective of the balance of arrears at the hearing date where there have been at least two months’ arrears on any three occasions within a three-year period.

But Clyde & Co partner Keith Conway (main picture) fears the persistent arrears ground will be unwieldy and difficult for landlords to use and will be a high hurdle for them to clear.

Chunky

“It actually [covers] quite a chunky period and is very easy for a tenant to manipulate themselves into and out of that situation, so I suspect the ground will not arise that often, even though it is mandatory,” he tells Commercial Dispute Resolution magazine.

Conway says the bill lacks detail of what constitutes a ‘close family member’, giving rise to doubts about how effective this ground will be and how it could be challenged.

He believes when the legislation is introduced, more smaller landlords will exit the market in favour of those who have greater resources to cope with the changes and disputes to come.

Smaller operator

“The direction of travel is clearly against the smaller operator, and economies of scale are needed to put these systems into place,” he adds.

The bill has also signalled potential improvements to dispute resolution processes. Osborne Clarke associate director Sue Thompson believes that improving the court system – something the government has said it would tackle – is vital due to significant delays when relying on the court process.

“Reforming that area is crucial going forward to improve efficiency and provide enhanced access to other means of redress,” she says.

View Full Article: Looming Section 8 eviction reforms will be ‘unwieldy and difficult’ says leading lawyer

Shelter attacks large rise in Section 21 evictions

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Shelter has attacked Section 21 evictions as the leading cause of homelessness. 

Chief Executive, Polly Neate, has highlighted the 143% rise in ‘no fault evictions’ recently revealed by new government figures. Up from 792 households between Oct and Dec 2021 and 1,924 between Oct and Dec 2022.

View Full Article: Shelter attacks large rise in Section 21 evictions

Student property EPC downgraded moving C rating further away?

admin    Uncategorized     agents

We recently had a new EPC done on our 5-bed student rental, which initially downgraded it from a D (65 points) on the previous EPC to an E (53 points) although nothing has changed.

After complaining, the assessor agreed that he hadn’t looked in the roof (he said it was inaccessible) and after I climbed in and sent photos

View Full Article: Student property EPC downgraded moving C rating further away?

Managing Agent has gone AWOL?

admin    Uncategorized     agents

I hope a Property118 member will know how this problem can be dealt with. Our managing agent of well over 20 years has failed to pay rents received and answer queries or solicitors’ requests for a year now.

I have asked the tenants to pay me directly but still inform the agents of any issues.

View Full Article: Managing Agent has gone AWOL?