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PRS Landlords Victory On Selective Licensing By Local Authorities

PRS Landlords Victory On Selective Licensing By Local Authorities

PRS Landlords Victory On Selective Licensing By Local Authorities

Housing Minister, Brandon Lewis

Housing Minister, Brandon Lewis

Government Housing Minister, Brandon Lewis MP (pictured right), has announced that the selective licensing of private rental sector (PRS) landlords by Local Authorities will require Government approval from 1st April 2015, if they plan to license a large geographical area within borough or city boundaries.

Local authorities have had the power to licence landlords across an entire borough since 2010, in an attempt to combat community issues, such as anti social behaviour in troublesome areas. This blanket approach has seen a sharp increase in the number of selective licensing schemes being introduced by local authorities across the UK, much to the chagrin of landlords.

The changes to local authority selective licensing powers mean that councils will now need Government approval before they are allowed to implement a selective licensing scheme that covers a large geographical area of their council borough or covers an area that contains a proportion of private rented properties, expected to be around 20% of the local private rental market.

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UK Private Rental Sector Landlords Fear Upcoming General Election

UK Private Rental Sector Landlords Fear Upcoming General Election

UK Private Rental Sector Landlords Fear Upcoming General Election

With The UK’s next General Election less than 80 days away it is feared by some economists that many UK private rental sector (PRS) landlords will choose not to expand rental property portfolios this year.

Fluctuations in regional property prices and housing legislation changes have already hit the UK property market, and now the electioneering hype being spouted by MP’s from all political parties is doing very little to encourage landlords to increase their rental property portfolios.

Already there is a great deal of talk and speculation about the possible introduction of rent controls and the threat of increased taxes for landlords as the current Government and opposition MP’s attempt to leverage the strength of the UK’s buy to let property market.

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Shelter Say Rogue Landlords Are Damaging Tenants Health

Shelter Say Rogue Landlords Are Damaging Tenants Health

New Survey Reckons PRS Properties Are In Such A Poor
State They Affect Tenants Health

According to a newspaper report published in The Independent last week, around 10% of private rental sector tenants have suffered ill health in the last 12 months because they feel that rogue landlords had failed to deal with poor conditions in their rental properties.

Housing and homelessness charity Shelter and British Gas commissioned a survey of 4,500 private rented sector tenants and reckon that poor living conditions are commonplace for tenant families in the UK’s private rented sector.

Around 50% of the tenants surveyed said they had lived in a rental property with damp or mould in the past year, and 20% of tenants said their rented home has electrical hazards, while 17% of tenants reported living with pest infestations including mice, ants and cockroaches.

Campbell Robb, Shelter’s chief executive, said “No family should have to live in a home that puts their health and well-being at risk, let alone face eviction just for asking their landlord to fix a problem. Yet every day, we hear from parents up and down the country living in fear that damp or gas and electrical hazards are putting their children in danger, but feeling powerless to do anything about it. With a bill to end revenge evictions going through parliament next month, we now have a real chance to change the law and protect renting families. We’re calling on people across the country to email their MPs and ask them to vote to end this unfair practice once and for all.”

Have Shelter got their facts wrong?

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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

Its Tenant Focus Week on Spotlight and we are going to publish a few helpful hints and tips over the next few days for landlords to incorporate into their rental property businesses and also pass on to tenants in rental properties.

The whole point is to raise awareness and overall standards within the UK’s private rental sector, whilst educating landlords and tenants about their respective rights and responsibilities.

All parties involved in renting property should behave respectfully towards each other to minimise misunderstandings and keep the lines of communication between the landlord, letting agent and tenants open and free from irrelavant clutter over silly unconnected issues that can sometimes spoil a tenancy.

Below is an excerpt from the general advice published and offered to all parties involved in property rentals issued by the Housing Ombudsman

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Red Ed Calls For Rent Controls As Part Of Election Campaign

Red Ed Calls For Rent Controls As Part Of Election Campaign

Red Ed Calls For Rent Controls As Part Of Election Campaign

Labour leader Ed Milliband has called for a European style rent indexation to be introduced as part of the political party’s election rhetoric.

The re-introduction of rent controls under the new guise of a newly titled Rental Price Index, designed to stem excessive rent increases, is intended to be one of Labour’s biggest vote magnets

The current coalition Government decided late last year that they wanted private rental sector landlords to act as unpaid members of the UK Border Agency, controlling and reporting on the immigration status of tenants, in order to avoid excessive financial penalties. This legislation is due to come into effect later this year after passing through Parliament and the House of Lords without too much fuss from MP’s, despite lobbying from landlord associations and heated debates with lettings industry professionals. 

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UK Property Rental Prices Reach New Record High

UK Property Rental Prices Reach New Record High

UK Property Rental Prices Reach New Record High

Latest figures show that the new national average property rental price being advertised has reached a whopping £1,006 (GBP) per calendar month (pcm).

This is the first time ever that the national average property rental price has broken the 4 figure ceiling barrier in the UK.

The increase in the national average property rental price has been attributed to continued growth of the London and South East property markets.

Property rental prices being advertised in central London have reached £2,300 (GBP) per month, the highest recorded rental average apart from during the Olympic’s in the summer of 2012.

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Will Landlords Be Safe Under New Rental Rules?

Will Landlords Be Safe Under New Rental Rules?

Tenants Charter could put tenants in a

stronger position over PRS landlords

Regulations which hand private rented sector tenants more power and rights to request longer leases have been greeted with cautious optimism, although the new code of practice, intended for launch by the Government, would bring in much-needed protection for many tenants from rogue and inexperienced landlords.

The proposed Tenants’ Charter, could mean honest and hard working landlords are at a disadvantage and could be put off from renting out properties.

The results of the introduction, could lead to another shortage of available rental stock for the UK property market leading to rent increases and landlords becoming trapped by more stringent legal binding agreements.

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Good news for landlords

Good news for landlords

There is a lot of Good News For Landlords Around As PRS rents Increase, Tenancies Last Longer And Demand Remains Strong

Good news for landlords as monthly PRS rents have increased by 1.1% year on year to average £845 (GBP) per calendar month (pcm). Scotland has witnessed the greatest rental price increase at 6.7% compared with the first quarter of 2013.

There has also been an increase in the number of older private rented sector tenants according to the latest quarterly index published by Countrywide lettings agency, who noted a 6% annual growth in the number of tenants over the age of 50 renting property in the UK private rented sector (PRS). The lettings agency also report that there has been a 7% annual decline in the number of tenants aged under 25 in the second quarter of 2013.

Buy-To-Let yields are strengthening across the UK, with the average yields being recorded in 3 regions:

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Illegal Immigrants To Be Banned From Renting Property In The UK

Illegal Immigrants To Be Banned From Renting Property In The UK

Landlords Face £3000 Fines
For Letting To Illegal Immigrants

Private rental sector landlords will be risking a fine of £3000 for breaking the law by letting rental property to illegal immigrants without doing proper background checks and comprehensive tenant referencing.

The proposal is currently undergoing a seven week consultation process and set to become part of the forthcoming Immigration Bill, launched by Immigration Minister, Mark Harper.

Under the proposed new legislation, illegal immigrants will not be entitled to free NHS treatment and will be prohibited from renting property in the UK.

Mr Harper said: “The consultation seeks views on the creation of a duty to require landlords to conduct immigration status checks on tenants before providing residential accommodation, with financial penalties for those landlords who let property to illegal migrants having failed to conduct the necessary checks. The landlord checking proposal is modelled on the existing civil penalty scheme for employers of illegal migrant workers.”

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Cost Of Renting Property More Expensive Than Purchasing Property

Cost Of Renting Property More Expensive Than Purchasing Property

The cost of renting property in the UK private rented sector (PRS) is more expensive than actually buying property, according to Zoopla.

Renting works out at 13% more expensive than paying off a mortgage, although the gap between the two lifestyle choices has narrowed in recent months due to the rise in residential property values.

Zoopla say the main cause of the narrowing gap is that residential property prices have increased at a faster rate than rents during the past year.

The cost of renting a two-bedroom property in the UK Private Rented Sector is up by an average of £84 (GBP) per month compared to the cost of servicing an interest-only mortgage on the same property, which has risen by just £120 per year.

The average rental payment on a typical two-bedroom property is around £8,006 (GBP) per year, compared with £7,045 (GBP) per year to service a 5% mortgage.

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