Over the past few years the number of people that rent properties instead of buying them has increased rapidly as many people throughout the UK can no longer afford to save for a deposit for a mortgage. Since the start of the recession the cost of living has increased while wages have remained mainly stagnant, meaning that the prospect of saving enough money for a mortgage is unachievable for many.
The issue of rogue landlords is becoming extremely serious recently, especially as there are a number of people in the UK who are living in properties that are a danger to themselves and others around them. For example, one woman in north Liverpool had her entire front room floor eaten away by rats, while other homes in the area were found to be infested with a type of mould known to cause cancer. This investigation was carried out by the housing charity Shelter, [...]
It has been reported today that a substantial number of landlords in the London area are not taking the electrical safety of their properties seriously enough, which has led to many housing bodies voicing their concerns. Ensuring all electric fittings are safe is a legal requirement for all landlords, but according to a study conducted by the Electrical Safety Council nearly a quarter of tenants in private rented accommodation in London are at risk of being harmed due to faulty electrical wiring.
By law, all landlords in the UK must register their tenants’ deposits in a certified scheme so that the money is safe and if there are any disputes the deposit protection agency will step in and ensure that any decisions are fair. Until a few months ago, this type of scheme only applied to landlords in England and Wales, however with the increase in dependency on private rented accommodation the Scottish government also decided to implement a deposit protection scheme of their own.
In a number of our previous news articles and blog posts we have highlighted the importance of having a properly written Tenancy Agreement for all your lettings as they could help you if there is ever a legal dispute. Furthermore, Tenancy Agreements make it clear to your tenant when they are expected to pay rent, the length of the tenancy and their responsibilities which means that your business is protected during the length of the tenancy.
Due to the fact that most people now rent a property instead of own one, the government have been looking into news ways to crack down on rogue landlords who do not look after their properties or their tenants. This has led to the introduction of news legislations that are affecting the private rental sector, however even though most private landlords are happy to help when it comes to improving the sector, many have said that they are confused when it comes to these [...]
It’s been a hot topic in the private rented sector recently: should all landlords be regulated in order to ensure tenants aren’t targeted by rogues? So far there have been a number of statements from those both for and against mandatory regulation of the private landlords, and now it seems as though landlords on the Isle of Man are weighing into the debate, especially as legislation may pass there in the near future.
Under new government plans by 2018 any property that has an Energy Performance Rating of ‘F’ or ‘G’ will no longer be allowed to let out their property until improvements are carried out, and from 2016 all private landlords will not be able to refuse a tenant’s request for reasonable energy efficiency improvements to their properties. This is why the government set up the Green Deal scheme, which allows landlords to have energy saving upgrades to their properties for free, as it not only [...]
So far there have been numerous landlord and letting agent associations that have criticised the new Immigration Bill which states that it will now be a landlords’ responsibility to make sure all their tenants are in the UK legally. Many have had concerns over how the plan will work, and others are saying that it is unfair for the government to make landlords spend their own time and money doing a job that they believe is the government’s responsibility.
If you are a landlord in England or Wales you will already know that once you take a deposit from a tenant you must by law place it in a deposit protection scheme within thirty days. You must also give your tenants information about the scheme that you chose, and provide them with a copy of the paperwork, or you could be eligible to pay a fine of up to three times the amount of the original deposit.