Monday 30 April 2012

National taskforce to end the problem of 'beds in sheds'

A new national taskforce will be set up to tackle the issue of "beds in sheds" by taking action against criminal landlords and removing illegal immigrants.

On Monday (30 April), Housing Minister Grant Shapps and Immigration Minister Damian Green will hold the first in a series of cross-Whitehall summits with representatives from the police, the UK Border Agency and local government.

The meetings will find ways to close down thousands of sheds and outbuildings being rented out illegally to migrants, including some with no right to be in the UK.

Click here to read the full story National taskforce to end the problem of 'beds in sheds'

Friday 20 April 2012

Rental Britain - A Special Report

A major new report from agent Savills and property website Rightmove which analysis the rental market in the UK has been launched.

The report asks the question are we becoming a nation of renters and examines the opportunities and challenges facing the private rented sector.

Thursday 19 April 2012

Water UK: landlord regulation 'the only credible option' to cut bad debt

Landlords must be made to hand over tenant details to water companies so firms can chase bill payment, lobby group Water UK has told government.

Responding to a consultation on tackling bad debt in the industry, Water UK said a voluntary option would not close a significant information gap.

It said regulation on landlords was "the only credible option" to deal with the "unacceptable" current situation where written-off debt adds £15 to the average customer bill.

Click here to read the full article Water UK: landlord regulation 'the only credible option' to cut bad debt

Monday 16 April 2012

New legal responsibilities for landlords

As from 6th April 2012 the changes to Tenancy Deposit Protection legislation included within the Localism Act became law and affect the way you protect a tenant’s deposit.
Under this new legislation you must protect a tenant’s deposit within 30 days after taking it from the tenant. In addition you must provide the tenant with proof within this 30 day period that the deposit has been protected.
If the deposit is not protected within 30 days, you will face penalties. Courts will now order that the deposit be either protected or returned in full to the tenant. The landlord will also be ordered to pay the tenant a minimum of one and maximum of three times the deposit amount as a penalty and you will be unable to use a Section 21 notice until the penalty is settled with the tenant.
Tenants can still seek this compensation even if you protect the deposit late, but before going to court. The tenant can also seek compensation even after leaving the property. This is a major change to the legislation regarding deposits and landlords need to act to ensure that they are complying with the new legislation.
The new rules will apply to deposits which you are already holding. You will be allowed 30 day period of grace from the start date to protect these deposits and /or give the prescribed information if you have not done so already.
Make sure you protect the deposit and provide proof to your tenant that you have done so within 30 days of taking the deposit.
Further information can be obtained by clicking the links below:
Shelter – Deposit Protection

Please note that this legislation does not apply to Scotland. The Scottish Government is planning to bring in Deposit Protection but no details or dates have been finalised.

Tuesday 10 April 2012

Landlords believe deposit schemes are tipped in favour of tenants

Landlords believe deposit schemes are designed to favour tenants, according to a new survey released today by digital inventory platform, Imfuna.

Just over half (54 percent) said that they thought current schemes favoured tenants, and 35 percent claimed that neither party benefitted from the schemes.

Letting agents also largely mirrored that sentiment. 20 per cent said that the schemes, in their current format at least, favoured landlords and 52 percent said the balance has been tipped in favour of tenants. A further 22 percent felt that the schemes didn’t benefit either landlord or tenant.

Click here to read the full story Landlords believe deposit schemes are tipped in favour of tenants

Saturday 7 April 2012

Deposit protection law changes

As changes to tenancy deposit protection laws come into force, Shelter is calling on landlords to ensure they are protecting their tenants’ deposits, to protect themselves from penalties.

From Friday 6 April 2012, landlords will have up to 30 days from the start of a tenancy to place their tenant’s deposit in one of the three official protection schemes, up from the previous 14 days.

The fine for failing to do this will now be up to a judge to decide, rather than a fixed penalty, and will range from one to three times the value of the deposit, which will be awarded to the tenant.

Read the full story by clicking here Deposit protection law changes

Tuesday 3 April 2012

Tenants: how to get your deposit back

An interesting article by Neil Faulkner which lists the most common reasons why a tenant may not get either some or all of their deposit back - and importantly how to avoid the situation arising in the first place.

Neil's article covers cleaning, wear and tear, the inventory, checking out, deposits and communication.

Well worth a read whether you're a tenant or a landlord.

Click here to read the full article Tenants: how to get your deposit back