Ban of letting agency fees requires further research says MPs

March 25th, 2015

According to an influential group of MPs the next government should assess the possible impact on the private rented sector before making any decision either to implement, or rule out, a ban on letting agents’ fees in England. The Communities and Local Government committee says that evidence from the existing ban in Scotland is not robust enough to make a decision on a ban in England. A report from the committee states that the next government should base any policy decision on the net impact on tenants’ costs and the private rented sector.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/1626-mps-want-research-on-lettings-agency-fees-ban

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


ARLA backs government curb on outbreak of landlord licensing schemes

March 24th, 2015

The Association of Residential Letting Agents has thrown its weight behind a bid by the government to curb the outbreak of landlord licensing schemes introduced by councils across Britain – the schemes which ARLA has dubbed ‘tenant taxes’.

David Cox, the association’s managing director says “ARLA welcomes the new proposals. It’s important that rogue landlords are prevented from exploiting vulnerable tenants but ARLA believes that only targeted, intelligence-led enforcement, rather than blanket licensing, will remove rogue landlords from the private rented sector”.

Read the full story on Letting Agent Today

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


Void periods continue to fall

March 23rd, 2015

Paragon Mortgages has surveyed a panel of landlord customers for 13 years, and the average void period reported in Q1 2015 – 2.4 weeks – is the lowest since the survey began.

In the last quarter of 2014 the average void period was 2.6 weeks, and comparing the first quarter of this year against Q1 2014, the void period has fallen by 14% from 2.8 weeks.

Read the full story on Property Reporter

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


No detail as yet on government’s sub-letting proposal

March 20th, 2015

The small print of this week’s UK budget contained a proposal to provide tenants with the right to sub-let their properties. The Department of Communities and Local Government has indicated that it is not yet in a position to elaborate on the initiative. Some analysts have interpreted the details provided so far as a move to allow amateur and professional landlords to emulate the likes of AirBNB, whereas others, such as the Residential Landlords Association and tenancy eviction company Landlord Action, fear that it will allow private tenants to sublet their own accommodation.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/1609-still-no-detail-on-government-s-sub-letting-proposal

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


Number of young professionals opting for HMOs on the rise

March 19th, 2015

‘Hutching up’, whereby several individuals share accommodation has traditionally been a London phenomenon due to the fact that rents in the area are prohibitively high. It appears however that this trend is on the move north with young professionals opting to live in HMO properties. Research from The Mistoria Group reveals that there has been a 23% increase in the number of young professionals preferring to live in shared accommodation. Cities such as Manchester in the North West have become expensive for young people to rent accommodation thereby contributing to this trend.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/landlords/rise-in-young-professionals-opting-for-hmos.html

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


Rise in residential rents seen by most UK regions

March 18th, 2015

Analysis from Countrywide shows that rents for new tenancies within the UK have increased by 1.7% over the last year. This brings the average monthly amount to £876. Over the period the majority of regions saw rent increases, with Greater London seeing the largest increase up 8.4% to £1251 pcm. The South East on the other hand saw the largest decrease, down 8.1%. The region’s decrease has been attributed to the move of tenants out of the private rented sector into the owner occupier sector, thus leading to a decrease in demand for rental properties.

Full story available from Property Wire: http://www.propertywire.com/news/europe/uk-residential-rents-rise-2015031710274.html

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


84% of brokers believe letting agents should be fully regulated

March 17th, 2015

According to a poll carried out by Mortgage Solutions, just 16% of respondents believe the industry does not needed compulsory regulation.

Simon Ryan, a landlord and managing director of Social Advisers, said greater landlord protection was required, “tenants are protected, landlords aren’t and we’re going to have landlords losing their pension pots if the industry is unregulated.”

Read the full story on Mortgage Solutions

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


Croydon council set to push through landlord licensing

March 16th, 2015

In response to the announcement from housing minister, Brandon Lewis, that from April 1 any landlord licensing scheme will require specific ministerial approval, Croydon council officers are recommending to their councillors – who meet today – that a planned scheme should go ahead. The council’s proposals are the most expensive in the country, with landlords told that they will have to pay £750 every five years for each property they let, reduced to £350 if they apply within the first three months of the scheme.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/1594-council-may-push-through-licensing-before-deadline

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


New restrictions to licensing schemes announced by housing minister

March 13th, 2015

The housing minister, Brandon Lewis, has moved to curb any new selective licensing schemes of private rented homes. New restrictions will come into force on April 1. From this date councils will require specific Secretary of State approval before introducing any licensing scheme covering more than 20% of their geographical area or affecting more that 20% of private rented homes in the target area. The minister believes that the new rules are necessary to prevent additional burdens being placed on reputable landlords who are already fully compliant with their obligations.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/housing-minister-moves-to-curb-new-prs-licensing-schemes/

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


Top gripes for landlords revealed

March 12th, 2015

A new study, conducted by My Property Inventories, details the issues that cause landlords most frustration. Topping the list is the view that tenants always complain about the cost of cleaning at the end of the tenancy, with 95% of landlords in agreement. Similarly, 80% of landlords feel that tenants are lazy and don’t like cleaning. Unsurprisingly the TDS reports that during disputes tenants often disagree about the state of the property at the start of tenancy, or that the tenancy agreement did not make clear what was expected of them. This highlights the need for landlords to have a professional and thorough inventory completed as part of the tenancy check-in process.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/landlords/what-is-the-top-gripe-for-landlords.html

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