Apr

‘Letting agents must help landlords navigate looming renting reforms’

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Evictions expert Paul Shamplina has warned landlords and letting agents that the looming Renters’ Reform Act will present major challenges for the private rented sector as a wall of new red tape arrives.

Speaking to a group of Belvoir business owners Shamplina – who is also Director for Partnerships for Total Landlord Insurance – said landlords will need agents to manage their properties “more soon than ever before”.

The TV star also highlighted recent research that shows 72% of landlords think it’s become more difficult to be a landlord recently.

“Any landlord who thinks self-managing a property is going to get easier in the coming months is completely wrong,” he said.

“Agents need to understand that they are fast becoming compliance officers for the landlord clients whose properties they fully manage.

“I’m getting more agents then ever before contact me about this and when I’m speaking at PRS events of course I re-enforce the need that landlords need agents to fully manage for them’

“Landlords are looking to agents to protect them and their properties from the flurry of new legislation coming down the road, some of which will come with fines attached for non-compliance.”

Reforms

This includes halving the number of non-decent rented homes by 2020; abolishing Section 21 ‘no fault’ evictions; preventing rent increases more than once a year; introducing a single ombudsman to cover both agents and landlords and introducing a ‘portal’ to register landlord properties.

Others include preventing landlords and agents from operating blanket bans on renting to families or those with pets.

On a more positive note, agents and landlords will be able to more easily evict anti-social tenants from properties, reportedly in under two weeks.

“Also, remember that other things keep landlords awake at night other than Government policy including rent defaults, how they will pay for property maintenance costs and repairs and losing income from empty properties or voids, but the massive rise in interest rates for some has been the straw that broke then camel’s back,” he added.

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