Tenant Referencing – who do you use for a thorough check these days?

admin    Uncategorized     agents

Hello, I used to use TenantReferencing.co.uk and was very happy with their application form and their 9-point checks. They left the market some time ago, and I still haven’t found a suitable replacement thorough referencing company.

Paying for a link to be sent to a prospective tenant before I’ve assessed an application doesn’t work for me.

The post Tenant Referencing – who do you use for a thorough check these days? appeared first on Property118.

View Full Article: Tenant Referencing – who do you use for a thorough check these days?

NEW: Live show promises ‘gloves off’ debate on rogue tenants

admin    Uncategorized     agents

Visitors to the first live Property Investor Show for nearly two years are in for a treat as key members of the sector confirm they will be gathering for ‘gloves off’ sessions at the event.

This follows one of the toughest periods for the private rented sector during the pandemic, during which thousands of landlords have been prevented from evicting tenants and, particularly in England, direct financial support for those who have struggled with rent arrears has been thin on the ground.

Those appearing to fulminate on these subjects include TV star and Landlord Action founder Paul Shamplina, who will be telling landlords how to protect themselves from tenant fraud, along with leading estate agent Krstjan Byfield.

The pair recently appeared on the BBC investigative programme Inside Out when it examined the problems of rogue tenants who illegally sub-let landlords’ properties.

“There’s often a disproportionate focus on so-called rogue landlords and this tiny section of the sector tends to get huge attention,” says Shamplina (main pic).

“But I will be discussing the growing problem of bad tenants taking advantage of Airbnb popularity and how many landlords are being taken for a ride financially with dodgy individuals sub-letting properties illegally. Who should take responsibility? That’s the big question”.   

Others appearing at the show include outspoken property industry figure Russell Quirk (pictured), Eddie Hooker of Hamilton Fraser, David Cox formerly of ARLA and now at Rightmove and Chris Norris, Director at the NRLA.

Quirk, who will be chairing a panel discussion on ‘what next’ for the PRS, says: “The past 18 months has seen a bumper property market and that’s benefited landlords and property investors hugely with capital gains in the double digits.

“But this surely cannot be sustained, and I will be asking the panel what they think 2022 and beyond looks like from a property value and tenant demand perspective – and adding my own perspective of course. When does the runaway train stop, if at all.”

Further big names and panel subjects are to be revealed soon.

The Property Investor Show is taking place at the Excel Centre, London on 15^th and 16^th October 2021.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – NEW: Live show promises ‘gloves off’ debate on rogue tenants | LandlordZONE.

View Full Article: NEW: Live show promises ‘gloves off’ debate on rogue tenants

Minister rejects law reform calls to help more landlords rent to pet owners

admin    Uncategorized     agents

The government has rebuffed last week’s efforts by campaigners, MPs, Lords and private rental sector organisations to help more landlords accept tenants who wish to live with their pets.

In a written House of Commons reply by junior housing minister Eddie Hughes (main picture) made in response to campaigning MP Andrew Rosindell, the government said the current deposit law set out within the Tenant Fees Act was sufficient to enable landlords to charge tenants an additional deposit.

Rosindell (pictured, left) asked: “What assessment his department has made of the potential merits of adding pet deposits to the list of permitted payments in the Tenant Fees Act 2019 for pet ownership in rented accommodation?”.

Hughes replied that: “The five week cap should be considered the maximum, rather than the default amount charged. This approach should therefore accommodate private renters who wish to keep pets, without the need for a separate pet deposit.”

The minister’s answer, which also said the government had no plans at this time to amend the Tenant Fees Act, would suggest Ministers are unaware that the vast majority of letting agents and landlords now charge the full five-week rental deposit as standard.

This means, in order to comply with Hughes’ suggestion, landlords would have to charge a lower overall deposit, something many are reluctant to do as it become more and more difficult to recoup rent arrears through the courts.

Jen Berezai (pictured) who has been helping coordinate attempts to move the government’s position on deposits, tells LandlordZONE: “The five week cap is near enough equal to a month’s rent, and should a tenant leave a property without notice or in arrears, only covers a landlord for that initial void, with nothing left over for any potential damage by humans or pets.

“Tenants WANT a negotiating tool, they WANT to be able to pay a deposit or insurance premium in order to keep their pets. The system is broken and the government MUST take heed and seriously consider the proposals set out in the Heads for Tails! report.”

Read more: ‘Tenant Fees Act has backed landlords into a corner over accepting pets’

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Minister rejects law reform calls to help more landlords rent to pet owners | LandlordZONE.

View Full Article: Minister rejects law reform calls to help more landlords rent to pet owners

How to put my rental property on the market?

admin    Uncategorized     agents

Hi, I am sure many landlords are probably in the same situation as myself, and I am looking to now sell a rental property.

I know I have to give 4 months notice, but can I still get the property on the market before the tenant’s notice expires

The post How to put my rental property on the market? appeared first on Property118.

View Full Article: How to put my rental property on the market?

Buying younger children an investment?

admin    Uncategorized     agents

Hi, I want to purchase a flat for cash, for my two boys (aged 15 & 13yrs). The income will take care of any maintenance and service charges as well, and the balance contributing to their ISA’s. It also gives them a place to live sometime in the future should they want to live in the city of Manchester.

The post Buying younger children an investment? appeared first on Property118.

View Full Article: Buying younger children an investment?

‘Tenant Fees Act has backed landlords into a corner over accepting pets’

admin    Uncategorized     agents

AdvoCATS founder and pets campaigner Jen Berezai sympathises with landlords who have been backed into a corner by the government’s Tenant Fees Act over accepting pets.

The charity is calling for the Act to be amended to allow landlords to either take additional deposits off tenants seeking to rent with pets or require tenants to take out extra insurance.

It has prompted a cross-party group of 35 MPs, peers and industry figures to write an open letter to housing secretary Robert Jenrick urging him to make it easier for landlords and agent to accept tenants with pets.

It now wants MPs to table a question in the debate on the Renters Reform Bill and is pushing for its proposal to be included in the White Paper.

Frustration

Landlord Mick Roberts has voiced the frustration of many in the sector, saying that, in the past, landlords could just charge a higher deposit and those tenants who didn’t cause damage would get all their money back.

“There’s no better insurance than the tenants’ own money,” says Roberts, who adds that if landlords are forced to take tenants with pets, they have no choice but to increase rent across the board – even for those without pets.

Berezai says the modern tenancy agreement doesn’t cut it and agrees that landlords want to be able to cover potential damage – but their hands are tied.

She tells LandlordZONE: “Landlords currently haven’t got many options and we’re trying to provide them with some.”

Berezai started the charity in 2018 while working at a rescue shelter, after becoming frustrated at the number of people wanting to adopt pets but being refused permission by their landlord.

“Lockdown rammed it home to people who had never experienced loneliness or isolation just how valuable a pet is,” she adds.

Visit Advocats

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – ‘Tenant Fees Act has backed landlords into a corner over accepting pets’ | LandlordZONE.

View Full Article: ‘Tenant Fees Act has backed landlords into a corner over accepting pets’

HMO landlord hit hard by Scotland’s tough licensing regulations

admin    Uncategorized     agents

A landlord who was hauled up on minor maintenance issues has been refused an HMO licence by Glasgow City Council.

Khurshid Begum told its licensing and regulatory committee that he had sorted all the problems at his property in Grant Street, Hillhead, but councillors would still not approve the letting licence.

All HMO landlords in Scotland need a licence or risk a fine of up to £50,000, while all private landlords must apply for registration with their local authority every three years.

The country’s more draconian rules could be replicated in England if the government’s Renters Reform Bill gets the go-ahead; the White Paper proposes greater regulation of landlords in England including a register of landlords and compulsory membership of a redress scheme.

Cracked bath

Council inspectors found a cracked bath and broken cooker ignition switch at Begum’s property, while fire officer Kevin Murphy told the committee that there had been no maintenance records for the fire alarm system or emergency lighting since 2016.

He added that a self-closing door wouldn’t shut and said: “As far as we are concerned the premises remain unsatisfactory. To this day we have failed to receive any communication from the representative.”

Begum insisted that all necessary certification had been sent to the Scottish Fire & Rescue Service and that issues had been fixed, including the bathroom, while a new cooker had been fitted and there were plans to redecorate the house.

However, councillors described the situation as worrying and pointed to a number of fatalities in the cities caused by fires. Councillor David Turner said: “You have had students in there without fire checks. This is just not acceptable.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – HMO landlord hit hard by Scotland’s tough licensing regulations | LandlordZONE.

View Full Article: HMO landlord hit hard by Scotland’s tough licensing regulations

Hyde Park Property Meet with Mark Smith (Barrister-At-Law) – 23rd September

admin    Uncategorized     agents

We meet at our stunning new Marble Arch venue – The Hard Rock Hotel/Great Cumberland Place. As always, our gatherings serve to inform, educate and entertain – with a wealth of time for quality, relaxed networking. Our events rarely include systems based on speed and paid pitches.

The post Hyde Park Property Meet with Mark Smith (Barrister-At-Law) – 23rd September appeared first on Property118.

View Full Article: Hyde Park Property Meet with Mark Smith (Barrister-At-Law) – 23rd September

LATEST: Investors pile another £1.2m into Airbnb landlord platform

admin    Uncategorized     agents

Airbnb property management firm GuestReady’s latest crowdfunding campaign has smashed its €1 million target in 24 hours.

The Seedrs offer has been hugely over-subscribed – raising €1.5 million or £1.2 million and counting from nearly 400 investors – demonstrating the huge interest in the short-term accommodation sector and reinforcing the continued staycation holiday boom.

At the start of the year, GuestReady raised £1.3 million from a similar campaign and was the second largest Seedrs crowdfunding campaign of 2020. It also raised £4.75 million in European funding led by a Russian venture capital firm.

UK-based GuestReady manages short lets via sites such as Airbnb, Booking.com and Expedia on behalf of lanldords, offering services including guest management, property maintenance, housekeeping and listing management to help landlords maximise rental revenue.

They can then keep up-to-date with a mobile app showing revenue and ratings.

GuestReady operates in 30 cities across Europe and the Middle East with a portfolio of more than 2,500 properties and has an ambition to reach 10,000 soon.

Bookings boom

Currently in London neighbourhoods such as Mayfair and Chelsea, the company says its bookings have increased by 300% so far this year and in July were double its July 2020 booking levels.

CEO Alexander Limpert (main picture) says the fast response to its share offer is a strong vote of confidence in the company’s vision.

He adds: “There still are many investors coming in and we would like to offer them the opportunity to join us on this great journey. For now, we are officially overfunding and are still accepting more investments.

“We do not know yet for how long, and thus invite all of those who are thinking of jumping on board to not miss out on this opportunity.”

Read more about short-lets industry.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Investors pile another £1.2m into Airbnb landlord platform | LandlordZONE.

View Full Article: LATEST: Investors pile another £1.2m into Airbnb landlord platform

Tenant Fees Act barrier to renting with pets

admin    Uncategorized     agents

Propertymark is backing a Report and an Open Letter sent from a cross-party group of over 35 MPs and peers who have joined together with leading pet charities and organisations to explore how the Tenant Fees Act is impacting on renting with pets.

The post Tenant Fees Act barrier to renting with pets appeared first on Property118.

View Full Article: Tenant Fees Act barrier to renting with pets