ARLA 5 point manifesto

admin    Uncategorized     agents

David Cox, of ARLA Propertymark, has written in the Daily Mail outlining a five point plan for the PRS that will encourage landlords to stay in the sector and give tenants a better deal.

In the article he detailed the plans as a new manifesto to be considered by the government:

1.

The post ARLA 5 point manifesto appeared first on Property118.

View Full Article: ARLA 5 point manifesto

Tenants waited for fees ban, but now face higher rents

admin    Uncategorized     agents

Fees Ban:

Since the introduction of the tenant’s fees ban in England in
June there’s been a boost in the number of new tenancy applications, but rents
have been rising as landlords are unwilling or unable to absorb the extra
costs.

The tent fees ban means that letting agents are unable to
charge their administrative costs to tenants by way of tenant fees, and deposit
amounts are capped at the equivalent of 5 weeks’ rent, so inevitably these
costs are passed on to landlords.

Some landlords are willing to absorb the extra costs, or if
they manage the properties themselves they may not even charge tenant fees, but
otherwise most landlords are passing on the extra costs by way of rent
increases.

The upshot is that tenants are no longer asked to provide
high fees in addition to their capped security deposit, but the cost will be
spread out over a period by way of a slightly higher rent – still a benefit for
most tenants.

The trend has been reported by letting agency franchise
group, Belvior stating that they have seen a dramatic increase in the number of
applications since the fees ban came into force, with their July applications
up 32% on July 2018.

Both Belvoir and ARLA Propertymark are reporting rent rises
across England, Wales and Scotland, Belvoir stating by an average of just over
4.5% compared with the same period in 2018.

Bevoir CEO Dorian Gonsalves has said that Belvoir offices
reported high demand, at a time of reduced supply due to other regulatory
changes.

David Cox, Chief Executive of ARLA Propertymark, has said:

“Following the Tenant Fees Act coming into force in June,
rents have continued to rise, which we believed would happen,�

“The fees agents have been banned from charging are still
being paid for by tenants, however it’s now through their rent, rather than
upfront costs.

“The fall in the number of properties available further
increases competition in the market, which only pushes rents up or forces
landlords to exit the market entirely. As the sector faces increased levels of
legislation, it’s evident this is putting even more pressure on the industry.�

Dorian Gonsalves od Belvoir has said:

“The majority of Belvoir agents predict further rental
increases.�

“As uncertainty over Brexit continues, and tenant demand
increases, we hope that the Government will consider a more joined-up and holistic
approach to the rental sector, which will help to increase the supply of
properties introduced to the market.�

“During the past 11 years average London rents have
increased by about 4.8% per year. This increase is ahead of average inflation
of 3%, but, being a capital city with affluent individuals seeking
accommodation, and a market that is experiencing stock shortages, the rise is
inevitable.

“Outside London, average monthly rents range from £629 and
£638 in the north-east and north-west respectively, £771 in East Anglia and
£783 in the west midlands, through to £1,155 in the south-east.�

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Tenants waited for fees ban, but now face higher rents | LandlordZONE.

View Full Article: Tenants waited for fees ban, but now face higher rents

Two largest of Britain’s landlords’ associations announce merger

admin    Uncategorized     agents

Breaking News:

The RLA and NLA are joining forces to form the National
Residential Landlords Association (NRLA); together they will represent over
80,000 landlords. The result is an organisation with immensely increased fire-power
when influencing parliament, much needed at a time of unprecedented change within
the industry.

The Chairs of the Residential Landlords Association (RLA)
and the National Landlords Association(NLA) have said, “We are very pleased to
announce that after more than 20 years of friendly competition we believe that
the time is right to create a single organisation for private landlords.�

The new Association, with a membership of more than 80,000
landlords, is by far the largest organisation in the private rented sector
(PRS). Its members will own and manage half a million properties, about 10% of
the PRS.

The NRLA will serve landlords in England Wales and will have
a regional structure.

The extra resources will enable the new body to increase
support for landlords helping them to manage their properties and provide
enhanced standards for tenants. They say they will be stronger together when
presenting a unified voice to government both nationally and locally.

The merger is endorsed by the boards of both organisations
and will be put to a vote of their respective members in September.  The new Association is planned to launch
officially on 1st January 2020.

In the meantime, both the RLA and NLA will continue to
operate as now although we will be working to align our policy and campaign
work.

Sean Hooker (PRS – Head of Redress) said:

“Congratulations to the NLA and RLA on their engagement and forthcoming marriage. NRLA will be a powerful voice for landlords and will raise standards and professionalism in the sector. Hamilton Fraser is look forward to working with the new organisation to make this merger a success.�

Eddie Hooker (Hamilton Fraser – CEO) said:

“We at Hamilton Fraser Group very much welcome this
announcement from these two hugely respected bodies. Having worked with the NLA
for twenty years including a successful collaboration on mydeposits and also
having developed a strong relationship with the RLA, I know the value of
working together and the need for joined up thinking. The rental sector and
individual landlords face huge challenges but also opportunities in the near
future and this new organisation will be in a great positon to ensure a healthy
and successful sector.�

Paul Shamplina (Landlord Action – Founder and Brand
Ambassador) said:

“So many landlords I know really appreciate the value of
both these organisations and indeed some have even joined both organisations!
The new NRLA will provide a united voice and a real focus for the needs of the
private renting to build a vibrant and respected sector that serves both
landlords and their tenants.�

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Two largest of Britain’s landlords’ associations announce merger | LandlordZONE.

View Full Article: Two largest of Britain’s landlords’ associations announce merger

Will the UK’s largest Landlord Associations Merge later this year?

admin    Uncategorized     agents

Property118 has received multiple anonymous tip offs today that the National Landlords Association “NLA” and the Residential Landlords Association “RLA” will merge later this year.

Having once said “I think hell is more likely to freeze over before that ever happens”

The post Will the UK’s largest Landlord Associations Merge later this year? appeared first on Property118.

View Full Article: Will the UK’s largest Landlord Associations Merge later this year?

Landlords stronger together

admin    Uncategorized     agents

The country’s largest landlord organisations are to come together to deliver a stronger voice for the private rented sector. The National Landlords Association (NLA) and the Residential Landlords Association (RLA) will unite to form the National Residential Landlords Association (NRLA) with a membership of more than 80,000 landlords making it by far the largest organisation […]

The post Landlords stronger together appeared first on RLA Campaigns and News Centre.

View Full Article: Landlords stronger together

Only 24 minutes from London Waterloo

admin    Uncategorized     agents

Property Investor Partnership is delighted to be offering 1 bed, build-complete apartments in the centre of Woking, Surrey – discounted by 10% off list prices.

Spectrum House is an exciting development comprising of 41 apartments. Each high specification apartment has been interior designed

The post Only 24 minutes from London Waterloo appeared first on Property118.

View Full Article: Only 24 minutes from London Waterloo

Landlord needs advice on HMO planning questions

admin    Uncategorized     agents

I have an HMO situation that I may need some help and advice with. I applied to Barnet council for an HMO license which was granted.

A few weeks later Barnet council Planning Dept have now written to me asking me questions.

The post Landlord needs advice on HMO planning questions appeared first on Property118.

View Full Article: Landlord needs advice on HMO planning questions

Ministry of Justice report on mortgage and landlord possession claims

admin    Uncategorized     agents

The Ministry of Justice have released the 2019 Q2 report on mortgage and landlord possession claims.

Landlord possession claims

There has been an overall decrease in landlord possessions. Compared to the same quarter the previous year

The post Ministry of Justice report on mortgage and landlord possession claims appeared first on Property118.

View Full Article: Ministry of Justice report on mortgage and landlord possession claims

Rents increasing for tenants

admin    Uncategorized     agents

Rent Increases:

The direct effect of the Tenant Fees Ban is playing out in the form of renting increases, where the costs are simply being transferred from fees to rents, as was widely predicted.

ARLA Propertymark’s latest (July 2019) Private Rented Sector (PRS) report indicates that average rents are rising and that UK rents reached a new record high for the third month on the run.

Given their increased costs, more landlords than ever are
pushing for rent increases, with around 63% of agents being asked to increase, bringing
the number of tenants facing rent rises to the highest figure on record. 15% more
landlords increased rents since June, which was itself a record high month.

ARLA report the number of tenants seeing rent increases up 31%
since July 2018 and the West Midlands being the worst affected with 86% seeing
a rent increase.

David Cox, Chief Executive of ARLA Propertymark, has said:

“Following the Tenant Fees Act coming into force in June,
rents have continued to rise, which we believed would happen,�

“The fees agents have been banned from charging are still
being paid for by tenants, however it’s now through their rent, rather than
upfront costs.

“The fall in the number of properties available further
increases competition in the market, which only pushes rents up or forces
landlords to exit the market entirely. As the sector faces increased levels of
legislation, it’s evident this is putting even more pressure on the industry.�

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Rents increasing for tenants | LandlordZONE.

View Full Article: Rents increasing for tenants

Letting agency posing as a club fined

admin    Uncategorized     agents

A lettings agency claiming to be a members’ club has been fined more than £40,000.

Lifestyle Club LSC has fallen short of the tenant fees ban, the club sought to imply that its members are licensees rather than tenants.

The post Letting agency posing as a club fined appeared first on Property118.

View Full Article: Letting agency posing as a club fined