Consumer Rights Bill to require letting agents to display whether they offer client money protection (CMP)

November 25th, 2014

In a surprise move yesterday the Government amended the Consumer Rights Bill to require letting agents to display whether they offer client money protection (CMP).  This amendment has been welcomed by SAFEagent, who had wrote to housing minister Brandon Lewis recently requesting that CMP be made mandatory.

Chair of the SAFEagent steering group, John Midgley said: “We are delighted that the Government has made this common sense move and listened to our concerns on the need for financial protection for landlords and tenants.  This is the first step in ensuring that being part of a CMP scheme is made a mandatory requirement.”

Read the full story on Letting Agent Today

RentPro cloud based rental property management software for letting agents and landlords.


99.5% of people have no knowledge of tenant protection scheme

November 21st, 2014

Research from sales and lettings firm KIS shows that just 1 person in 200 is aware of the existence of a government scheme designed to protect tenants. As of October, letting agents have been required to sign up to one of three redress schemes designed to give tenants a recognised independent place to take their complaints. The schemes are run by the Property Ombudsman, Ombudsman Services Property and the Property Redress Scheme. Each scheme can assess tenant complaints and award compensation where appropriate.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/view.asp?ID=15703

RentPro cloud based rental property management software for letting agents and landlords.


Little movement on rental values

November 20th, 2014

An analysis by Kate Faulkner, Property Market Analyst and Commentator, concludes that there has not been significant rent rises on 2014. The analysis reviews indices published by Homelet, LSL and Belvoir. As is generally the case, regional variations exist, with London reporting much higher increases than the rest of the country.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/view.asp?ID=15695

RentPro cloud based rental property management software for letting agents and landlords.

 


Call for landlords to lobby MPs over nightmare tenants

November 19th, 2014

The Residential Landlords Association is calling on Landlords to lobby MPs to tell them about nightmare tenants. This is part of a plan to debunk what it calls the myth of revenge evictions. Liberal Democrat MP Sarah Teather claims that under her proposed bill a local authority will only serve a notice on the landlord if s/he is clearly at fault. The RLA however argue that there is no need for the legislation and it could actually undermine confidence in the private rented sector at a time when it is needed most.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/1196-landlords-urged-to-lobby-mps-over-nightmare-tenants

RentPro cloud based rental property management software for letting agents and landlords.


Report predicts rent increases and falling home ownership

November 18th, 2014

A report from the Joseph Rowntree Foundation paints a stark picture as to what the housing market will look like in 2040. It predicts that one in five people will live in private rented homes and the number of home owners will actually fall despite a population growth. Industry insiders have commented on the report stating that it should serve as a wake up call to political leaders to address an ongoing housing crisis.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/home-ownership-fall-renting-increases-prediction/

RentPro cloud based rental property management software for letting agents and landlords.


Tenants not convinced by reform promises

November 14th, 2014

The majority of tenants, over 60 per cent, say they remain unconvinced of promises from political parties in relation to the rental sector. Labour’s plans include default three year tenancies and a ban on letting fees, whilst the Liberal Democrats want to end the so called retaliatory evictions. The Conservatives have yet to announce any substantial policies for their election manifesto. The tenant survey conducted by the National Landlords’ Association shows that more tenants believe that Labour, more than any other political party, have the right approach to housing, albeit with an unconvincing 13 per cent.

Full story available in Letting Agent Today: http://www.lettingagenttoday.co.uk/1175-tenants-unimpressed-by-promises-to-reform-renting

RentPro cloud based rental property management software for letting agents and landlords.


New online Section 21 eviction service launched

November 13th, 2014

The government has launched a new service enabling landlords to use the Section 21 accelerated possession procedure online. With many landlords often making mistakes in court applications the online process is designed to ask questions in plain English and check the eligibility of the landlord for making such a claim.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/view.asp?ID=14661

RentPro cloud based rental property management software for letting agents and landlords.

 


Average increase of tenancy deposits up by 11%

November 12th, 2014

The latest data published by mydeposits shows that the average residential tenancy deposit in England and Wales has increased by 11% over the last year. The figures also show that a difference between the most expensive and cheapest regions in England and Wales of £1,266. With deposits usually tagged to rental values, the figures appear to imply that demand for rental properties is outstripping demand causing pressure on the rental market.

Full story available from Property Wire: http://www.propertywire.com/news/europe/england-wales-rental-deposits-201411129808.html

RentPro cloud based rental property management software for letting agents and landlords.


Buy-to-let lending hits £2.5bn in September

November 11th, 2014

According to data released today from CML, there were 18,100 buy-to-let loans recorded in September, which was an increase in the number of loans by 15% compared to August.  Within the overall total of buy-to-let loans in September, 8,760 were advanced for house purchase and 9,260 for re-mortgage.

Read the full story on Property Reporter

RentPro cloud based rental property management software for letting agents and landlords.


2019 will see 24% of all homes privately rented prediction

November 10th, 2014

A forecast from Savills predicts that there will be an additional 1.2 million households in England & Wales in the private rented sector by 2019, of which over two million private rented households will be in the 35-49 year old age group.  The only age group that is expected to decline in the number in the private rented sector is the over 65s.

Read the full story on Letting Agent Today

RentPro cloud based rental property management software for letting agents and landlords.