Currently viewing the tag: "service providers"
PRS Tenants Could Be Hit With Rent Increases Despite Falling Inflation

PRS Tenants Could Be Hit With Rent Increases Despite Falling Inflation

PRS Tenants Could Be Hit With Rent Increases
Despite Falling Inflation

The increase in demand for rental properties in the UK’s private rental sector (PRS) from would-be tenants could drive local rental prices through the roof in some parts of the country according to a new report published by the Association of Residential Letting Agents (ARLA).

According to data published in the latest ARLA monthly Private Rented Sector report 31% of letting agent members recorded an increase in the cost of monthly rent for rental properties in UK regions between January and February this year.

41% of letting agents in the South East of England reported landlords increasing rental prices for their properties. However, in Wales only 13% of letting agents reported landlords increasing rental asking prices.

Continue reading »

UKALA Has Serious Concerns About Immigration Bill

UKALA Has Serious Concerns About Immigration Bill

Immigration Bill Concerns Highlighted To Government

The UK Association of Letting Agents (UKLA) has voiced some serious concerns over the introduction of the Government’s new Immigration Bill.

The concerns were raised by UKALA Executive Caroline Kenny to Parliament’s Public Bill Committee after the UKLA were called to give evidence on behalf of letting agents.
Ms Kenny used the opportunity to bring letting agents’ doubts over the enforcement and responsibilities of the proposals to the immigration minister’s attention highlighting the UKLA’s concerns over restricting access to all but low risk tenants.

The UKLA were asked to give evidence to the Public Bill Committee following lengthy discussions with the Department for Communities and Local Government (DCLG) and the Home Office.

UK Association of Letting AgentsSpeaking after the evidence session, Caroline Kenny commented, “Whilst letting agents are well equipped to carry our checks, and do so on behalf of landlord clients every day, the legal requirement to periodically monitor and report on the immigration status of tenants could affect their ability to conduct business and the safety of their staff. UKALA is deeply concerned that the Bill’s requirements will further restrict access to housing for people from outside of the UK, or with non-standard requirements. Many areas of the UK have very competitive lettings markets and it is entirely conceivable that landlords will instruct agents to favour those tenants they perceive as ‘low risk’. UKALA agrees that landlords and letting agents should act responsibly to ensure that only tenants with the proper permission to reside in the UK are granted new private tenancies. However, we believe it is not appropriate to make housing professionals responsible for policing country’s borders.”

The views shared by many UK landlords with rental portfolios within the private rented sector are more defined, they don’t want the added responsibility of having to carry out these checks on tenants immigration status, they are in the business of renting out property to tenants that can afford the rent, not being unpaid agents of the UK Border Agency performing personal vetting services.

Tenant referencing services are going to become a vital mainstay of all UK PRS landlords’ operational procedures if they are to stay within the confines of the Government new proposals, this creates business opportunities for service providers.

Landlords advised to seek student tenants

Landlords advised to seek student tenants

The Association of Residential Letting Agents (ARLA) has issued advice on the UK student lettings market to first time landlords.

UK Landlords should look to the student lettings market in order to get their empty properties rented out, according to ARLA.

With over 600,000 students starting university courses in major UK cities this September, the student lettings market is a thriving business sector.

UK landlords who are used to renting to working tenants and securing the rent with Rent Guarantee insurance may be wary of entering the student rental market but ARLA insist that the student rental market is a thriving business concern.

ARLA has issued advice on the best steps to take when renting to students that is invaluable information, especially for new or first time landlords.

Guidance for landlords includes ensuring students understand their obligations as tenants, (even when they are likely to be away from the property during long university holidays), joint or several liability clauses, in case students leave the property unexpectedly and conducting a comprehensive inventory, as students don’t always have the best reputation for looking after properties.

Specialist UK Landlord and Letting Agent service providers, Legal 4 Landlords, also urge new or inexperienced landlords to seek advice from a reputable property managing agent, with a proven track record in successful HMO and student lets, before entering the student lettings market and advise landlords to enquire with the relevant local authorities about licensing and compliance with any local legal requirements.

There Will Never Be A Better Time To Invest In Property

MyPropertyPowerTeam.co.uk helps property investors and landlords build their own property power team to enable them to profit from property - Visit our main site now!