Government confirms redress scheme starts October 1

August 28th, 2014

The Department of Communities and Local Government has confirmed that the lettings sector’s compulsory redress scheme will begin on October 1. Under the scheme any lettings agency in England found not to be in one of three official schemes can be fined up to £5,000. The three schemes are the Property Redress Scheme, Ombudsman Services Property and The Property Ombudsman.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/878-dclg-confirms-redress-regime-starts-october-1

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


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.


Landlords fail to research prior to investing

August 4th, 2014

Research conduced by Platinum Property Partners shows that many buy-to-let investors carry out no or little research before making property purchases. Such news is surprising given that the value of the average property portfolio in the UK is worth £650,000. With typical investment periods of fifteen years even a small increase in the gross yield of a property can result in significant gains. This can be achieved by diligent research before investing.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/view.asp?ID=14095

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


Banning of rental properties with low EPC ratings moves a step closer

July 24th, 2014

A new consultation has been launched which states that that minimum standard for all rental properties will be an EPC rating of E. If implemented it will not be possible to rent properties that fail to meet this standard to new tenants from 1st April 2018.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/ministers-move-closer-banning-rental-properties-low-epcs/

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


New immigration legislation worries landlords

July 17th, 2014

80% of landlords are worried about the new immigration legislation which comes into force in October 2014. These are the findings of a study conducted by The Online Letting Agents. Such worries could lead to housing shortage for a growing segment of the population if landlord and letting agents refuse potential tenants if they believe them to be immigrants.

Full story available from Property Reporter: http://www.propertyreporter.co.uk/view.asp?ID=14007

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


Campaign launched against licensing schemes in the private rented sector

July 15th, 2014

The new national campaign against selective licensing schemes is to seek a legal opinion on the issue of tenants’ legal rights to the peaceful enjoyment of their property.

The launch comes as Liverpool city council, wants landlords and agents to keep tenants and their visitors under what appears to be permanent surveillance as part of its proposed licensing scheme.

Read the full story on Property Industry Eye

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


Welsh private rented sector to experience massive changes

July 10th, 2014

The private rented sector in Wales is to experience massive changes after the Housing Wales (Bill) was approved this week. Landlords and letting agents will not only have to be registered, but if they want to manage properties then they will have to be licensed as well. The new arrangements have been supported by Shelter, but strongly opposed by the Residential Landlords Association.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/huge-changes-prs-wales-go-ahead/

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


Ban bad landlords says MPs

July 8th, 2014

An all-party parliamentary group of MPs has said that bad landlords should be subject to a nationwide ban. In addition, the group said that the introduction of a national landlord register should also be investigated. The Residential Landlord Association (RLA) welcomed the report but has called on the government to use existing legislation to regulate landlords rather than introduce a new register. The RLA argues that such an introduction equates to more red tape which will stifle growth in the private rental sector.

Full story available from Simply Business: http://www.simplybusiness.co.uk/knowledge/news/2014/07/landlord-register/

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


Scottish MPs vote in favour of mandatory licensing of letting agents

June 30th, 2014

Housing minister Margaret Burgess (Scottish National Party) warned that the regulation of agents would have teeth.

She said: “Regulation of letting agents is a landmark. It was good to get the support of the letting industry and landlords’ organisations for the measure. We got that because we worked together with them.”

Read the full story on Property Industry Eye

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


Call for mandatory electrical testing

June 24th, 2014

Shelter and Electrical Safety First have called for five yearly checks of wiring and other electric fittings to become mandatory. The charities reported that a third of properties fail to meet basic standards and over a million electrical problems were reported last year. The Resident Landlords Association says that landlords are already required to meet certain obligations. Multiple occupation abodes require a safety check to be carried out every five years by a competent electrician and property owners are liable for prosecution under the Defective Premises act if a tenant suffers death of injury as a result of a defect in the electrical system in the premises.

Full story available from BBC news website: http://www.bbc.co.uk/news/uk-politics-27983675

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