Property insurance – Change of tenant circumstance?

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I am just in the process of renewing my property insurance. I have three cottages in a terrace, all identical and the renewal cost is £110.00 each.

However in my discussion with the broker he asked me if all the tenants were still working.

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RLA responds to North Kesteven enforcement policy consultation

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The RLA has called for guaranteed long-term funding of housing enforcement in its response to a consultation to a draft PRS enforcement policy in North Kesteven  The response explains that councils will be able to plan, and take effective action against those who exploit tenants through dangerous properties, if guaranteed long term funding of housing enforcement […]

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GDPR sees record number of calls to advice team

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With new General Data Protection Regulations (GDPR) come into force today, phone calls about the new regulations are continuing to flood in to the RLA’s Landlord Advice Team, with landlords making sure that they are doing what they can in order to be compliant. What are people calling about? Rupinder Aujla, Landlord Advice Team Manager said: “It’s […]

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Rents stable in England and Wales according to latest rental index

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Rental Yields April:

According to the Your Move rental tracker, average rents in the private rented sector (PRS) across England and Wales remained steady in April, that’s compared with the previous month. They were 4.4% higher than a year ago at £861 per month.

Only the North East and Wales saw rents decline, but with rent increases in the 12 months to April in the South West 3% and the East Midlands 2.9%. The North East and Wales declined by 1.6% and 0.5% respectively, with average rents of £526 and £590. The North East is the least expensive place to rent in the country.

London is the most expensive for rents at £1,275 but the rate of previous increases has slowed considerably, rising by just 0.1% in the 12 months to April 2018.

Yields in the East Midlands increased by an average of 4.3%, while remaining steady across most regions of England and Wales in March and April 2018. There was a slight drop in the North West from 4.9% to 4.8% and in the East of England from 3.8% to 3.7%.

4.4% was the average yield across England and Wales, which has remained unchanged. The North East showed the highest yield at 5%, whilst 4.8% was the average yield in the North West, and 4.7% in Wales. The lowest yield overall is 3.2% in London where prices remain high, which also applies in the South East and South West at 3.3%.

Martyn Alderton, National Lettings Director at Your Move, comments:

“The market in London has stopped its recent slowdown, but still lags behind the strong growth seen in the East Midlands. The South West also grew at a strong pace while the North East delivered the strongest yields to landlords. This shows that there’s something for every investor and landlord, whether yield driven or seeing capital appreciation, in today’s rental market.�

According to Martyn Alderton, average yields are still good news landlords who have experienced falling returns in recent months. An extra administrative burden due to increased regulation of the sector, slower rental growth and government tax changes have all contributed to a subdued investment market, but rental demand is strong.

Martyn Alderton says that “even areas which have seen yield levels fall or remain flat, property continues to deliver competitive returns compared to other forms of investment.�

Your Move England & Wales Rental Tracker

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Selective Licencing Website Set to Go Viral

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You may well have been following the campaign efforts of Nottingham based landlord Mick Roberts and his monumental efforts to persuade his local Council to scrap their selective licensing scheme.

Well he taken another giant leap forwards by persuading one of his website developer friends to build a campaign website for his

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I don’t think I need to be concerned about GDPR

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I don’t think I need to be concerned about GDPR, here’s why.

I live overseas and whilst my property rental business in the UK is a substantial one, I keep no records either written or electronically in regards to any of my tenants.

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BTL electric safety – Fan over bath?

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I’ve got a major worry at the moment regarding my electric work in my BTL. Essentially I’ve had work carried out in terms of having radiators installed (ex council house) and electrics sorted in terms of adding new plug sockets into the kitchen and installation of smoke alarms.

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Foxtons fined £35,000 over one letting

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Agent Fined:

Foxtons the iconic London agents has been fined £35,000 for safety issues involving a house it was letting. Foxtons had failed in its duty to prove to the local council information that the house it was letting was safe for the tenants in occupation.

Tower Hamlets Council, in east London, had asked Foxtons to provide safety documents for the property, but Foxtons had failed to do so despite warnings over an 18-month period.

A statement issued by Tower Hamlets Council, at Bow magistrates court, claimed that Foxtons had ignored requests to provide certificates showing that the gas, electrical and fire alarm installations had been checked.

Foxtons had also failed to supply details of the landlord and details of the tenants to the council on request.

Bow magistrates heard that although the house was believed to be in good condition, without serious safety issues, Foxtons’ failure to comply with the council’s requests “demonstrated a lack of regard for its duty to comply with legal requirements.�

Deputy mayor of Tower Hamlets, Councillor Sirajul Islam, said:

“This case has sent a very strong message out to landlords and agents.�

In passing sentence it was said by the court that the fines took into account of the size of the company, its profits and the ease with which it could have provided the information to the council.

The offence committed by Foxtons comes under Section 236(1) of the Housing Act 2004: failing to comply with a notice served under Section 235 of the Housing Act 2004. The notice requires a “person with a relevant interest in a property� to provide documents to a council for any purpose connected with its housing enforcement functions.

Foxtons pleaded guilty and in addition to the fine it was ordered to pay £3,603 in costs.

In mitigation Foxtons relied in court that it prided itself on its reputation as one of the county’s largest agents. It said it was “ashamed and remorseful� of the failings that led to the offence.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Foxtons fined £35,000 over one letting | LandlordZONE.

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Landlord Law conference important update on Gas Certificates

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Last Friday I attended the excellent and very informative Landlord Law Conference, which I thoroughly recommend to anyone. In particular it helped me keep completely up to date with all the latest legislation that has passed and is likely to be passed.

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Electric shower or combi fed shower in a tenanted property?

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To my surprise I find that one of my units is currently without a shower.

So I need to get one fitted.

The question is – should I go for an electric one (given the possibly considerable expense and inconvenience of running a new cable) or would a direct from the (combi) boiler one be a good choice?

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