Monday 30 January 2012

The new tenancy deposit rules that will put you at risk

Landlords are gradually becoming aware that there is this thing called tenancy deposit protection.

This is fortunate because come April when the new regulations come into force, they are going to get a lot tougher.

Even with the regulations as they are now, many landlords are still making a mistake which could cost
them dear.

Click here to read the full article The new tenancy deposit rules that will put you at risk

Wednesday 25 January 2012

Landlords could become liable for tenants' unpaid water bills under Government plans

A new consultation from the Department for the Environment, Food and Rural Affairs (DEFRA) aims to reduce the sums that every water user pays to cover the cost of unpaid water bills, Environment Minister Richard Benyon said. This accounts for an average of £15 a year on bills.

There is currently no requirement that the owners of a building must provide information on an occupier's identity to the relevant water company, although these details must be provided to electricity and gas suppliers. The water industry had to write off approximately £328 million in unpaid bills in 2010-11, mainly from tenants in rented properties, the Government said.

Benyon said that he wanted to consider whether the Government could take action through a voluntary approach before introducing regulation.

Monday 23 January 2012

Tenants urged not to bury their heads in the sand

Private tenants in receipt of housing benefit have been urged to contact landlords to negotiate rents.
Housing benefit caps which where enforced on new tenancies in April last year, are now imposed on all existing tenancies throughout the UK.

The benefit caps will shortchange rents approximately £600 per year for the average rented property, except in London, where the shortfall is drastically higher.

Miles Turner, director of eviction specialists, Turner & Howard, is urging tenants to contact their landlords if the benefit caps will result in arrears.

“If tenants have not already done so, they need to contact their landlords immediately if they cannot afford the rent due to housing benefit caps. We are urging tenants and landlords to negotiate rents."

Click here to read the full article Tenants urged not to bury their heads in the sand

Friday 20 January 2012

Rental market showing signs of a downturn in fortune

After months of rising demand for rental property - and as a result, landlords being able to command higher rents - there are signs that the private rental sector might be experiencing a downturn.

According to research from the Association of Residential Letting Agents (ARLA), in the final quarter of 2011 55% of its members said they had more tenants on their books than properties to house them in.

While that might suggest that all remains rosy for the rental sector, it is a sharp fall from the third quarter of 2011 when 74% of ARLA members said they had more tenants than properties.

Click here to read the full article Rental market showing signs of a downturn in fortune

Monday 16 January 2012

60% of landlords displaying 'No housing benefit tenants' in ads - survey


Six out of 10 landlords are refusing to accept anyone on benefits, specifically stating ‘no housing benefit tenants’ in their adverts, according to a survey conducted by flat and house share website SpareRoom.co.uk.

A survey of more than 1,000 UK landlords has highlighted widespread negativity towards housing benefit tenants, with respondents citing unreliable, late or no payments as the main issues.

It found that almost nine out of 10 (87%) landlords have had problems with housing benefit tenants not paying the rent on time, with one in 10 (11%) admitting they have had tenants who stopped paying rent altogether.

Click here to read the full story 60% of landlords displaying 'No housing benefit tenants' in ads - survey

Thursday 12 January 2012

Mortgage squeeze fuels surge in buy-to-let investors

The share of residential housing stock owned by private landlords has jumped more than 40pc since the financial crisis, and now makes up almost a fifth of the total, according to estate agent Savills.

The tighter lending standards introduced by Britain's banks since the crisis have created opportunities for some investors, as the pool of potential homebuyers shrinks.

Click here to read the whole article Mortgage squeeze fuels surge in buy-to-let investors

Wednesday 11 January 2012

Landlords expect increase in tenant demand in 2012

More than half of landlords expect tenant demand to remain high in 2012, research by specialist buy-to-let lender, Paragon Group has showed.

Data from the quarterly survey showed that 56 per cent of the 199 landlords surveyed expect tenant demand to either “grow or boom” in the new year, compared to 45 per cent who were asked the same question at the end of 2010. Only 6 per cent of those surveyed thought that tenant demand would decline in 2012.

When asked whether they thought rental income would increase during the next 12 months, 45 per cent of landlords surveyed expect levels to increase, whereas 53 per cent said that it would remain stable and 2 per cent said that it would decrease.

To read the full story please click here Landlords expect increase in tenant demand in 2012

Monday 9 January 2012

Students fall victim to fake landlord scam in hunt for digs

Students looking for digs have been warned about a scam in which they are fleeced before they see a property.

The National Union of Students (NUS) says a growing number of students have been taken in by adverts posted on websites where fake landlords demand a holding deposit. Students pay up, but the letting never materialises and they lose their money.

The problem has been compounded by the high number seeking private accommodation, pushing many students on to unregulated websites.

Click here to read the full story Students fall victim to fake landlord scam in hunt for digs

Tuesday 3 January 2012

Tenant Deposits Update


Landlords face being taken to court by tenants with a claim for up to four times the amount of their deposit if they haven’t looked after deposits properly and within strict deadlines from April 2012 onwards, warns a Retford law firm.

Landlord and tenant law expert James Murray of Atteys Solicitors says that landlords will risk heavy financial penalties if they do not place their tenants’ deposits in an approved scheme within 30 days and inform their tenants about this.

Click here to read the full story Tenant Deposits Update

NetRent Comment

Tenant Deposits were thrown into confusion last year by legal rulings (see previous NetRent News Blogs for more information). This is the first article we have seen that indicates that the forthcoming Localism Act will restore the clarity that landlords, agents and tenants need.