Fees ban adversely impacts tenants

August 27th, 2014

Evidence from the first Scotland Buy-to-Let Index from Your Move shows that rather helping tenants, the ban on charging tenant fees has actually resulted in the same tenants being worse off. In the two years prior to the ban, the average annual rental change stood at 0%. However, in the 21 months since the ban, rents in Scotland have increased by 2.3% – a rate much higher than that in England and Wales. This rise could be explained by agents charging increased fees to landlords to compensate for the loss of income from tenants. The landlords in turn are demanding a rise in rent to maintain their property income.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/anti-fees-campaigners-warned-rents-rise-ban/

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

Unscrupulous letting agents are ‘double dipping’

August 21st, 2014

Research published by Direct Line for Business has found evidence of both landlords and tenants being charges for the same service, such as tenant referencing and contract extensions which only amounted to a change of date.  The research also revealed the disparity in charges, with the cost of a letting agent completing an inventory on a property ranging from £65 to £300; property visits from £20 to £100; and the charges for managing a checkout from £30 to £125.

Read the full story on Property Reporter

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

New survey reveals that half of tenants feel ripped off

July 16th, 2014

A new survey conducted by Ocean Finance has revealed that half of tenants in the UK feel that they have been ripped off by either a private sector landlord or letting agent. The main cause of dissatisfaction is failure to get repairs done or in a timely fashion.

Full story available from PropertyWire: http://www.propertywire.com/news/europe/uk-tenants-landlords-survey-201407159357.html

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

Shelter ‘playing to people’s fears’

June 18th, 2014

The Residential Landlords Association has recently accused Shelter of ‘playing to people’s fears’  and warned that public policy must not be based on the opinions of problems which could be distorted.

Rather than playing to peoples fears the RLA has said that Shelter should come up with ideas on how to assist good landlords whilst rooting out the bad ones.

Read the full story on Residential Landlord

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

PRS to come under the spotlight in Scotland

June 10th, 2014

Tomorrow the future of Scotland’s private rented sector will come under the spotlight  as politicians, key stakeholders, academics and housing sector representatives gather in Edinburgh.

Key topics will include how to create a more secure and stable housing experience for today’s private renters, current and future trends and the potential impact of the Housing (Scotland) Bill.

Get the full story on 24dash

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

Contrasting views on the impact of tenant fees

June 3rd, 2014

Shelter today claimed that new research has shown that a ban in Scotland on agents charging tenant fees has had no negative impact on letting agents, landlords or tenants and a similar ban should therefore be introduced in England.  ARLA countered this argument by claiming that some Scottish agents have gone out of business, some have raised landlord fees and some have increased tenant rents.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/shelter-massively-ups-campaign-ban-letting-agent-fees/

RentPro cloud based property management software for letting agents and landlords

PRS campaigners release renter’s manifesto

May 20th, 2014

Generation Rent has released a renter’s manifesto – and is now asking for people’s views and additional proposals as well as suggestions for other solutions. Continue reading »

Labour’s plans could dissuade investment in construction

May 16th, 2014

A pledge to introduce rent controls by the Labour party could dissuade companies from investing in the construction of homes for rent, two big landlords have warned.

Andrew Cunningham, chief executive of Grainger Plc, voiced concern that ”(Labour) said the rents would go up by a reference to some sort of average figure in the market place, (which) we think would not get what they want which is an improvement in standards”. Continue reading »

The Latest Buy-to-Let Index from LSL Property Services

May 16th, 2014

David Brown, commercial director of LSL Property Services, analyses the company’s latest Buy-to-Let Index, discussing a variety of issues, such as rents by region, yields and returns, and tenant finances. He also presents a very valid argument against the proposed rent reforms.  Application fees charged by agents discourage tenants from a scatter gun approach to acquiring a rental property, i.e. applying for several at the same time and hoping one application will be successful. Such an approach would increase the time taken to place a tenant in a property, potentially leaving landlords to struggle with their financial commitments. Continue reading »

Labour’s proposed ban on agent fees defeated…. for the time being

May 14th, 2014

The ban on fees charged to tenants by letting agents, proposed by Labour, was yesterday defeated in the House of Commons. It is however, likely to resurface should Labour win next year’s general election. Continue reading »