Monday 15 June 2009

Government Plan to Licence Landlords could cost £2.5 billion

We reported the Government response to The Rugg Report earlier in this Blog, we can now tell you the anticipated costs of licencing Landlords in England.

According to the Government's own Impact Assessment it could cost a staggering £2.5 billion.

Included within the Impact Assessment is a proposal to charge Landlords a Licence Fee of £500 PER PROPERTY. This is Option One under the plan. The Licence would last for 5 years and would cover every rented property in England.

Even under the Government's own preferred option, Option Two, Landlords would have to pay between £30-£50 every year.

The Impact Assessment goes on to explain how the schemes would work and sets out a timetable for the introduction of Licencing for Landlords.

The Government is currently carrying out a consultation exercise which will end on 7 August 2009. We strongly urge all Landlords and Letting Agents to visit the Communities and Local Government website and read both the Government Response to the Rugg Report and also the Impact Assessment.

We would also strongly urge every Landlord and Letting Agent to let the Government know what you think about their plans. You can write or email the consultation team at:

William Tandoh
Private Rented Sector Team
Department for Communities and Local Government
1/C4 Eland House
Bressenden Place
London
SW1E 5DU

PRSreview@communities.gsi.gov.uk

The Response and Impact Assessments can be found here Communities and Local Government Website.

Please remember - you only have until 7 August 2009 to let the Government know your views. Please act now.

You can share your views with other Landlords and Letting Agents by visiting our own forum The Landlords Club, the free forum for everyone involved in the Lettings Industry.

Landlords warned about Deposit scams

Landlords are being warned against bogus websites which appear to be one of the 3 official, Government approved tenant deposit schemes.

Unwitting landlords have been placing their deposits with these on-line companies only to find out that the deposits are not protected and the landlord could be liable for fines and penalties.

The 3 official websites are:




If you take a deposit from a tenant and fail to lodge it with one of these 3 companies you will be liable to fines and penalties. For full details please see the Government's own website:



Friday 12 June 2009

Council of Mortgage Lenders publish new guidance on Buy-to-Let arrears

The Council of Mortgage Lenders (CML) have published new guidance to lenders to ensure that they act fairly when dealing with Buy-to-Let arrears.

The CML guidelines for Buy-to-Let mortgages come into effect in September but they claim that much of these guidelines are already being upheld.

The CML guidance includes the lenders options, implications for tenants and non Buy-to-Let tenants. For more information please click here CML Guidance on Buy-to-Let Arrears.

Thursday 11 June 2009

Landlords could be forced to pay tenants water bills

According to an article published by The Times newspaper residential landlords could be made liable for unpaid water bills left by departing tenants under a government review of water charges.

Ofwat have drawn up plans and submitted them to the Walker Review which is reviewing charging and metering for water and sewerage services on behalf of the Government.

The read the full Times article click here Landlords could pay tenants water bills.