Court of Appeal rules on tenancy deposit case

December 19th, 2014

Long-standing tenancies could be impacted by a new Court of Appeal decision. Although tenancy deposit regulations do not require landlords to protect deposits taken before April 2007 the court ruled that the Housing Act states that a Section 21 notice cannot be issued if the “deposit is not being held in accordance with an approved scheme”. This implies that if a landlord who is holding a deposit taken before April 2007 wishes to issue a Section 21 notice, s/he should either first protect the deposit in an approved scheme or return the deposit to the tenant.

Full story available from Property Industry Eye:  http://www.propertyindustryeye.com/new-court-appeal-decision-tenancy-deposit-case/

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


Most landlords not confident completing immigration checks

December 18th, 2014

New research shows that 93% of landlords are far from happy as the immigration check scheme pilots in the West Midlands this month. With the scheme due to go national next year, nine out of ten landlords still don’t understand what is required of them. The Immigration Act required landlords to check whether prospective tenants and any occupants over the age of 18 are in the country legally before entering into a new tenancy agreement. Any non-compliance will mean that landlords could face a £3,000 fine.


Landlords expect rents to rise and tenant demand to continue but have found it harder to access mortgage finance

December 17th, 2014

According to a sentiment survey of more than 1,100 landlords conducted by Your Move and Reeds Rains,  landlords estimate that rents will increase by 1.8% in the next twelve months which is lower than the Bank of England’s 2% target for inflation.  The majority of landlords polled however, do not intend to raise their rents in the next year.

Over the last six months, 41% of landlords report seeing a rise in tenant demand. Which means the proportion of landlords who expect tenant demand to increase further now stands at 63%, up from 56% in January.  As a result, 22% of landlords intend to expand their portfolio over the coming year – an increase from 18% in January 2014.

For 42% of landlords  trying to raise mortgage finance in the last twelve months has been more difficult compared to a year ago. This is an increase from 35% in January 2014, highlighting the impact of a tighter lending environment.

Read the full story on Landlord Expert

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


MPs urge caution over introduction of revenge eviction legislation

December 16th, 2014

The All-Party Parliamentary Group for the Private Rented Sector has warned the Government not to resurrect plans to ban “revenge evictions” until it has done its homework. The group says that it heard a bewildering variety of figures during its own inquiry and no objective data is available from a group without a vested interest in the subject. The group chair, Oliver Colvile, commented that evidence is crucial to making good policy and at the moment such evidence simply isn’t available.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/revenge-evictions-mps-parties-condemn-possible-loss-section-21/

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


Rent up 8.3pc in November

December 15th, 2014

Nine out of 12 UK regions have recorded higher rental prices in November 2014 compared to the same month last year, even accounting for a 0.6% decrease in UK average rental prices since October 2014.  Scotland, Greater London, and the West Midlands experienced the highest growth compared to this time last year, with rental prices 11.7%, 11% and 8.7% higher than this time last year, respectively.

Read the full story on Mortgage Introducer.

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


Government gives go ahead for £3.5bn private rented homes deal

December 12th, 2014

The UK housing minister Brandon Lewis has signed off on a new deal unlocking £3.5bn in funding to help build homes in the private rented sector. The scheme enables landlords of new, rented homes to use a government guarantee to secure long-term financing. The investment will give tenants more choice of better quality homes by increasing the supply of purpose built, professionally managed, private rented homes.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/property/new-35bn-private-rented-homes-deal-given-go-ahead-by-the-government.html

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


Over 1/3 of disputes settled without the help of the legal system

December 11th, 2014

A new report conducted by My Property Inventories, revealed that in the last year, only 10% of landlords have been involved in a tenant dispute.  Of those, 66% opted to settle the dispute in court, while 34% managed to resolve issues without the help of the legal system.   The top three causes of disputes were damage to property (58%), followed by redecoration (51%) and cleaning and rent arrears (42%).

Danny Zane, Director of My Property Inventories explains: “It is so important that agents and landlords ensure they have all the right documentation and evidence to improve their chances of resolving or winning a dispute.

Read the full story on Property Reporter

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


Claims of chaos in tenancy eviction process

December 10th, 2014

Landlord Action claims that the tenancy eviction process is in utter chaos. Reported problems with the county court system include lost files, year long delays and basic admin errors. These are resulting in some landlords facing repossession by their mortgage lenders as they are unable to meet their monthly payments, whilst non-paying tenants stay in situ. The situation isn’t ideal for tenants either as they need to be formally evicted in order to claim homeless status.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/tenancy-eviction-process-utter-chaos/

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


Winter-proof your BTL property

December 8th, 2014

With the first cold snap upon us it is time to think about winter-proofing your property.  Valerie Bannister, President of ARLA, says “Maintaining property in the winter is important; not only to reduce the likelihood of damage and unwelcome costs, but also to ensure tenants are provided with good quality accommodation. By undertaking simple property maintenance on a regular basis, risks can be kept to a minimum.”  Taking this into consideration, the Association of Residential Lettings Agents (ARLA) has compiled a checklist for landlords to use in order to can reduce the associated risks and avoid costly surprises.

Read the full story on Property Reporter

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


Parliament to see return of anti-evictions measure

December 5th, 2014

Four members of the House of Lords plan to re-introduce a bill to ban revenge evictions that was defeated in the Commons last week. The defeat was procedural, with two Tory MPs talking out the time available in a filibustering process. Landlord bodies that opposed the original bill are likely to restate their opposition when the new amendment goes to the Lords.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/1257-it-s-back-anti-revenge-evictions-measure-back-in-parliament

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