New crackdown on buy-to-let sector ‘imminent’

July 23rd, 2015

In the wake of the warning from the Bank of England that the buy-to-let bubble could threaten the financial stability of the entire country, the UK chancellor, George Osborne, has indicated that a crack down on the buy-to-let sector is imminent. This is likely to take the form of new powers being given to the Bank of England to restrict the number and size of buy-to-let mortgages. The news was revealed in answers from the chancellor to the UK’s Treasury Select Committee.

Full story available from Property Industry Eye

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


Rent Smart Wales, launches this autumn

July 14th, 2015

A new compulsory licensing and registration scheme for landlords is to be launched in Wales this autumn.  The new scheme will require landlords to register themselves and their properties.  If a landlord wants to manage a property themselves they will need to demonstrate they are fit and proper to hold a licence and undertake training, alternatively a landlord can appoint a licensed agent to manage the property on their behalf.

Read the full story on Walesonline

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


Deadline looms for protecting deposits

June 22nd, 2015

Landlords have until tomorrow evening 23rd of June to protect any outstanding tenancy deposits they took for tenancies commencing before that date, according to the Deregulation Act 2015 amnesty, otherwise they will be barred from using the no-fault section 21 eviction process.  There has been much confusion on the law surrounding deposit protection and it is hoped that the Deregulation Act 2015 will clarify the situation once and for all.

Read the full story on LandlordZone

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


53% of North West landlords say they struggle to keep up with new laws

June 19th, 2015

According to a report published by the rochdaleonline.co.uk website, more than half of all North West landlords say they are struggling to keep up all the regulation changes which have been coming “thick and fast” recently.

Despite the Government’s promise to reduce red tape for businesses and cut the amount of regulation needed to run a business, it seems they are making an exception for the private rented sector (PRS).

Read the full story on LandlordZone

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


Government’s stance on landlord licensing schemes to be put to the test

June 12th, 2015

Redbridge London Borough Council has submitted a request for all of its private rented properties to be licensed. This will test the government’s apparent opposition to council-wide landlord licensing schemes having previously announced that such an approach can only be introduced with ministerial approval. Some authorities have expressed interest in licensing schemes, saying such a move would reduce anti-social behaviour and improve rental property quality. However, many in the private rented sector believe that the true motive is to raise money for council coffers, with few resources dedicated to policing the licensing.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/breaking-news/2015/6/government-put-on-the-spot-over-landlord-licensing-schemes

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


Trading Standards adopting ‘lighter touch’ approach to new lettings agent law

June 10th, 2015

Two weeks have now passed since the introduction of new laws that require letting agents in England to display details of all fees and charges on their websites and prominently in their offices. Failure to comply could result in fines of up to £5,000. Research from Property Industry Eye indicates that compliance with the new laws remains very low, yet active policing of the obligations could be lower still. The publication has viewed correspondence from Trading Standards stating that whilst they are actively engaging with the new rules, a ‘lighter touch’ on enforcement will be adopted in the early days as the matter is not safety related and also due to the fact that the institute has not received additional resources to carry out the extra duties.

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/cash-starved-trading-standards-may-not-rush-to-police-new-letting-agents-law/

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


Clock ticking on deposit protection deadline

June 5th, 2015

The Tenancy Deposit Scheme (TDS) has issued a reminder to landlord and letting agents that they have less than three weeks to protect tenancy deposits using one of three government-approved schemes. A change to the Deregulation Act means that tenancy deposits taken before 6th April 2007 now fall under deposit protection law. Landlords who fail to register deposits before 23rd June could face a penalty of between one and three times the value of the deposit and restrictions on regaining possession of their property.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/breaking-news/2015/6/time-is-running-out-to-protect-deposits-says-tds

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


Landlords and Letting Agents await details of proposed mandatory licensing

May 25th, 2015

The private rented sector in the UK said it is surprised about proposals to introduce a mandatory licensing system due to be in the Queen’s Speech at the opening of the new parliament this Wednesday.  David Cox, managing director of the Association of Residential Lettings Agents (ARLA), is urging ‘the Government to take this opportunity and impose more appropriate, over-arching regulation on the whole lettings industry. We look forward to hearing the full details of the plans in the Queen’s Speech,’ he added.

Read the full story on Property Wire

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


Industry welcomes new proposals for UK landlords

May 22nd, 2015

The National Landlords Association (NLA) has welcomed new proposals concerning immigration that will impact the country’s private rented sector. They include powers for councils to crack down on unscrupulous landlords, allowing landlords to evict illegal migrants more quickly and the roll out of the Right to Rent scheme. A new mandatory licensing scheme for landlords is also included, along with a consultation on cancelling tenancies when visas expire.

Full story available from Property Wire: http://www.propertywire.com/news/europe/ujk-landlords-immigration-rules-2015052210540.html

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


Guidance for agents in relation to display fees

May 21st, 2015

With the legal requirement to display details of all charges on websites and in offices coming into force on 27th May, the Association of Residential Letting Agents (ARLA) has created a set of templates to assist agents. The templates are available here:

http://www.arla.co.uk/news/may-2015/download-the-arla-template-and-display-your-fees/

Official guidance states that fees should be visible in an agent’s office so that they can be clearly seen by customers. Furthermore fees must be comprehensive and clearly defined. All costs must include tax.

Full story available from Letting Agent Today: http://www.lettingagenttoday.co.uk/breaking-news/2015/5/help-for-agents-who-must-display-fees-from-next-week

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