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What Does The Future Really Hold For PRS Landlords?

What Does The Future Really Hold For PRS Landlords?

Are PRS Landlords Any Better Off
After The Election?

UK private rental sector landlords may have breathed a sigh of relief after the general election results were announced last week, but is the future still rosy for the PRS?

Conservatives Vowed To Leave PRS Landlords AloneThe Conservatives may have been voted into Government by a small majority over the other political rivals, but will all the election promises be kept or is it more likely that we will see additional legislation concerning rent caps, longer tenancies and changes to tenant’s rights being introduced via other means?

The way I see it, the future under a Conservative Government will be no different from the experiences of the last 5 years.
The main targets will still be PRS landlord’s and letting agents and the victims will always be the tenants.

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Landlords Warned To Get Ready For Universal Credit

Landlords Warned To Get Ready For Universal Credit  Chaos!

National Universal Credit Roll-Out
Starts February 2015 

Department of Work and Pensions (DWP) Secretary, Iain Duncan Smith surprised commentators with an announcement that Universal Credit (UC) will be rolled out to all Jobcentres and local authorities in the UK by February 2015 following the apparent success of the pilot scheme that was originally trialled in the North West.

Many Universal Credit detractors predicted that nothing significant would happen, before next year’s General Election, however, Iain Duncan Smith stunned everyone by announcing that Universal Credit will be rolled out to all Jobcentres and local authorities across the country, starting February 2015.

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MPPT Spotlight are focusing on Tenants this week with a series of articles on getting the best out of tenant

MPPT Spotlight are focusing on Tenants this week with a series of articles on getting the best out of tenants

Tenants Admit Having Problems With Landlords And Letting Agents

55% of tenants in the UK’s private rented sector (PRS) have experienced problems with their landlord or their appointed letting agents according to the latest research from the Association of Residential Letting Agents (ARLA).

The most common issue which affected 31% of PRS tenants was the length of time taken to fix problems in rental properties including issues with boilers, heating and electrical outlets.

Once a problem was raised, tenants have waited an average of 36 days for the problem to be fully resolved. However over 14% of PRS tenants never had their rental property problems fixed at all, according to the research.

18% of tenants surveyed also reported frustrating delays with landlords not replacing worn out fixtures and fittings on demand, including requests to replace old or damaged kitchen cupboards or tired and worn carpets.

14% of the tenants surveyed, felt that their complaints about repair issues were either ignored or brushed off by landlords or their appointed letting agents.

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48% Of Tenants Would Like To Withhold Rent Over Repair Delays

48% Of Tenants Would Like To Withhold Rent Over Repair Delays

Tenants wrongly attempt to

blackmail landlords over repairs

Private rental sector tenants are wrongly taking matters into their own hands and attempting to withhold rent from landlords over delays resolving emergencies like heating and electrical faults, according to new research by HomeServe.

The figures show that 1 in 3 PRS tenants have faced emergency repairs over the last 12 months,  with boiler faults and other central heating problems the most common.

Of those, 11% took the wrong action, attempting to withhold rental payments because they claimed that the landlord had taken an unacceptable length of time to deal with the repairs, and 48% of tenant respondents said they would also be willing to withhold rent should the need arise.

  • 1 in 4 problems take landlords more than a week to repair
  • 34% of private tenants have faced a home emergency in the last 12 months
  • 1 in 10 tenants who have had a home emergency withheld rent
  • 1 in 2 tenants would be willing to withhold rent if necessary to expedite repairs

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