Posts with tag: letting agents

£5m Rogue Landlord Fund Will Not Work if Legal System is Not Updated

Published On: January 25, 2016 at 1:07 pm

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Last week, the Housing Minister, Brandon Lewis, announced a £5m fund to help local authorities tackle rogue landlords. However, the body that represents councils believes that the funding will not work if the current legal system is not updated.

£5m Rogue Landlord Fund Will Not Work if Legal System is Not Updated

£5m Rogue Landlord Fund Will Not Work if Legal System is Not Updated

The fund will be split between 48 councils in England. It is aimed at eradicating “the cowboy operators in their area and bring an end to tenants living in miserable homes in the name of profit”. Find out if your council will receive a share here: /5m/

The new fund is part of the proposed Housing and Planning Bill, which also looks to introduce banning orders for persistent rogue landlords and letting agents.

The Local Government Association (LGA) has responded, saying that the system for prosecuting rogue landlords must be modernised.

The spokesperson for the LGA, Peter Box, states: “The private rented sector is growing and, with limited resources and competing funding pressures, councils are working hard to ensure that rogue landlords are dealt with robustly and effectively.

“However, they are too often being hamstrung by an outdated system. It can take more than a year to prosecute a rogue operator and in many cases, paltry fines are handed out to criminal landlords.”

He continues: “Proposals in the Housing and Planning Bill for banning orders for the worst operators in the private rented sector will help councils tackle this issue, as will the flexibility to issue fines to private landlords as an alternative to prosecutions.

“We will be working with the Government to ensure measures in the bill are properly resourced so councils can make full use of them.

“Our chronic housing crisis is making it easier for bad landlords to exploit tenants.”

He adds: “Councils must be given a lead role in building new affordable rented homes so that people who can’t afford to buy are not forced into the more expensive private rented sector.”1

1 http://www.local.gov.uk/media-releases/-/journal_content/56/10180/7657355/NEWS

 

 

 

L & Q enters the Build to Rent market

Published On: January 21, 2016 at 11:22 am

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London housing association L &Q has announced its programme to create 5,000 new houses for the Build to Rent sector in the capital. It is hope these properties will be ready in the next five years.

L and Q claim that this will be the, ‘UK’s largest selection of purpose built and newly refurbished rental properties.’[1]

Transparency

The group has also promised, ‘transparent fees and no hidden costs,’ which will be, ‘backed by a dedicated maintenance service which includes a 24-hour helpline.’[1]

‘We understand that renting is increasingly becoming a lifestyle choice for those who appreciate a more flexible and hassle-free living arrangement,’ said Diane Hart, L & Q’s group director. ‘This shift, coupled with rising house prices, has put the current rental sector under huge pressure.’[1]

Hart continued by noting, ‘as a result, homes with the right quality, value and location from trustworthy landlords are in very short supply, We believe choosing to rent should never mean compromising on location, quality, service or design.’[1]

L & Q enters the Build to Rent market

L & Q enters the Build to Rent market

Deliverance

Concluding, Hart said, ‘our new rental portfolio will deliver on the expectations that today’s discerning tenants quite rightly have. People choosing to rent can pick from a wide selection of well-appointed, purpose-built or newly refurbished rental properties in great location to suit their lifestyle and their budget, with the added security of renting from a professional and experienced landlord.’[1]

L & Q currently rents out in excess of 800 homes privately and standard market rates, alongside managing over 70,000 homes across London and the South East.

[1] https://www.lettingagenttoday.co.uk/breaking-news/2016/1/operator-enters-build-to-rent-with-ambitious-5-000-property-programme

 

Right to Buy Could be Extended to Private Tenants

Published On: January 13, 2016 at 9:24 am

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A Conservative MP believes that the Right to Buy scheme may be extended to private tenants in the near future.

Right to Buy Could be Extended to Private Tenants

Right to Buy Could be Extended to Private Tenants

Mark Field, the MP for the Cities of London and Westminster, says the policy that allows tenants to buy their homes at a discount could soon be extended to those living in properties provided by private landlords.

Speaking in the House of Commons yesterday, where the Housing and Planning Bill was being debated, Field stated: “It has already been mooted, I think, by the opposition benches that buy-to-let landlords should be forced to sell their homes to tenants.

“I think that would be entirely wrong, but I think it would probably be an extension of what we are proposing.”

A key measure of the Housing and Planning Bill is to extend Right to Buy to housing association tenants.

Field believes the policy would reduce housing stock and result in properties being rented out to high earners.

He observed: “That’s what has happened to many of the housing estates in my own constituency, where essentially, the second or third buyer after a Right to Buy has been, dare I say it, a well-paid yuppie.”1

Field added that extending Right to Buy to social housing tenants would be unfair on private renters, whose voices are not heard so loudly.

Yesterday, the Housing and Planning Bill made it through its third reading in the House of Common and is now due to go to the House of Lords.

Alongside the extension to the Right to Buy scheme, it will introduce banning orders on landlords and letting agents, and implement fines of up to £30,000 for rogue landlords or agents.

For the latest changes to landlord law and daily updates, remember to check LandlordNews.co.uk.

1 http://markfieldmp.com/news-a-articles/housing-and-planning-bill/

 

 

Housing and Planning Bill to get Third Reading Today

Published On: January 12, 2016 at 9:34 am

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The Housing and Planning Bill is set to get its third reading in the House of Commons today.

The bill will then go through the House of Lords on a date yet to be confirmed, where it will be formally introduced in a first reading, proceed to a second reading, followed by the committee stage and a third reading.

Housing and Planning Bill to get Third Reading Today

Housing and Planning Bill to get Third Reading Todayand a third reading.

The Residential Landlords Association (RLA) has published a briefing paper to peers, calling for numerous amendments.

The RLA wants local authorities to be obliged to collect information on landlords through Council Tax forms from tenants.

It explains: “At present, local authorities have the right to ask for details of a property’s landlord to assist with the collection of Council Tax, but very few use the power.

“The RLA believes local authorities should now be compelled to collect such information on Council Tax registration forms for use in the enforcement of regulations affecting the sector.

“Getting tenants to identify landlords will mean that criminals will find it harder to hide from local authority enforcement officers.”1

The organisation is also calling for an amendment to make it easier for landlords to offer longer tenancies.

It states that in London, a huge problem is that leases on blocks of flats prohibit tenancies of more than a year. The RLA would like landlords to be able to grant sub-tenancies of up to a year.

Another amendment suggested by the RLA is that landlords included on the blacklist of rogue landlords and letting agents, which the bill would introduce, should not have their names on it permanently if they commit to a period of education.

The body notes that the banning orders on landlords and agents are not permanent under the bill’s provisions, and this should also be applied to the blacklist.

Additionally, the RLA calls for tenancy deposit schemes to be modernised, so that the prescribed information that landlords must provide to their tenants can be offered electronically as well as in paper form.

Do you agree with the RLA’s suggestions? What would you request?

1 http://news.rla.org.uk/wp-content/uploads/151109-Housing-Bill-Committee-Briefing.pdf

 

Landlords and Agents Must Prepare for Right to Rent, Says Home Office

Published On: January 8, 2016 at 3:06 pm

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The Home Office has warned landlords and letting agents that they only have a short period of time before they are obliged to check the immigration status of prospective tenants under the Right to Rent scheme.

The legal requirement will be enforced across England on 1st February. However, from this week, landlords and agents can begin conducting the checks on potential tenants, as the checks can be made from 28 days before the start of the tenancy agreement.

Landlords and Agents Must Prepare for Right to Rent, Says Home Office

Landlords and Agents Must Prepare for Right to Rent, Says Home Office

James Brokenshire, the Immigration Minister, insists that the checks are simple and do not require any specialist knowledge.

He says: “Right to Rent is part of the Government’s wider reforms to the immigration system to make it stronger, fairer and more effective.

“Those with a legitimate right to be here will be able to prove this easily and will not be adversely affected.

“The scheme is about deterring those without the right to live, work or study in the UK from staying here indefinitely.”1

The Right to Rent obligations apply to all private landlords with rental properties in England, tenants that sub-let their homes and homeowners that take in lodgers.

Landlords can appoint a letting agent to undertake the checks on their behalf.

Landlords or agents must make the checks on all adult occupants. The scheme applies to all new tenancy agreements starting from 1st February onwards, with existing tenancy agreements unaffected.

Landlords must:

  • Determine who will live in their property.
  • Obtain a tenant’s original appropriate documents.
  • Check the documents with the tenant present.
  • Copy and keep the copied documents on file.
  • Record the date of the check.

If the tenant is only allowed to be in the UK for a limited period of time, the landlord or agent must conduct a follow-up check at a later date.

All local authority homes, company lets and holiday lets are exempt from the scheme.

A Practical Guide to Right to Rent Checks event is being held in Cambridge on 18th January, aimed at educating landlords and letting agents. More details are here: http://www.easylawtraining.com/right-to-rent/?inf_contact_key=0012124fd7fe89ba77388c520451eaa739a56222a44c4ff9a0e9876a84b9b91d

1 http://www.propertyindustryeye.com/home-office-tells-agents-and-landlords-they-must-get-ready-for-right-to-rent/

 

New Year’s Property Resolutions

Published On: January 7, 2016 at 2:36 pm

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A run has been put off. A small glass of wine has been poured. A chocolate bar wrapper is all that remains…

2016 is already 7 days old. For many of us, New Year’s resolutions have already been broken. However, there is still time to make amends!

Whether you are a landlord, agent or would-be property investor, using the following checklist can see you set yourself up for a successful New Year-whatever the status of your previous resolutions!

As always, planning is paramount to a successful outcome, whether selling, purchasing or renovation a rental property.

Owning in 2016

For those looking to invest in a property in 2016:

  • Make sensible goals on how much deposit you will save and by when
  • Draw up a budget to help make goals
  • Set a maximum price
  • Think about moving savings into a high interest ISA
  • Talk to a lender about the amount you can borrow
  • Locate and research your target area
  • Compare house prices and typical rents
New Year's Property Resolutions

New Year’s Property Resolutions

Selling in 2016

  • Look at listings and sales prices in the local area
  • Make relevant improvements and renovations to the property
  • Update tired features
  • De-clutter, put things into storage units and throw away tat!
  • Tidy and clean gardens

Renovating in 2016

  • Make a realistic budget
  • Decide what can and can’t be done to the property
  • Leave any expertise to the professionals!
  • Enjoy it! Choosing features from cushions to curtains should be a fun factor as your new decoration begins to take shape