Search Results for: hmo
-
Latest property news
20% of London rental properties now part of selective licensing
Twenty percent of London’s privately rented homes are now covered by a local council selective licensing scheme, it has been revealed. Consultancy and services provider London Property Licensing says there are now 30 selective licensing schemes and that 200,000 of London’s million privately rented homes are now included within them. The latest London borough to join the fray is Hackney, which is currently consulting on introducing a licensing scheme across the whole borough for HMOs and a selective licensing scheme in three wards – Brownwood, Cazenove and Stoke Newington. Giving its reasons for bringing in selective licensing, the council says it has found shockingly poor conditions 20% of properties within these wards including leaking roofs, exposed writing and vermin infestations. “Our research has exposed that in some parts of our borough, tenants face appalling conditions that put their safety at risk despite paying an average of £1,820 a month in rent for a standard two-bedroom home,” says Councillor Sem Moema. “This is simply unacceptable. We believe that introducing these licensing measures will give us the powers we need to tackle landlords who exploit renters and make sure their homes are safe, secure and well-maintained.” As we reported in August, Hackney…
Read More » -
Features
Rogue landlords and agents are not the norm
There are unscrupulous landlords who lock out their tenants and, says Frances Burkinshaw, there are rogue agents too, but they are not the norm!
Read More » -
Features
How to do Section 21 notices properly
The confusion has arisen as a result of legislation changes applying to residential Assured Shorthold Tenancy (AST) agreements which began on, or have been renewed since, October 1, 2015. To be able to action the accelerated possession procedure in relation to AST agreements made up to September 30, 2015, the Regulations require a minimum standard of proof from landlords that there is a written AST in place, that the deposit is protected and prescribed information relating to the deposit was served on tenants. Licences are also required for HMOs or in Selective Licensing areas. In order to launch the procedure using the ‘new’ Section 21 notices, however, which are currently intended to be issued for AST agreements made from October 1, 2015 onwards, and won’t apply to older ASTs until late 2018, the Regulations impose several additional obligations on landlords which must be complied with before the eviction notice can be served. OLD AND NEW NOTICES Now I am concerned that landlords and agents are serving new Section 21 notices on old AST agreements, putting them at greater risk of having their case thrown out of court. By failing to recognise the differences between the ‘old’ and ‘new’ Regulations and…
Read More » -
Features
Frances Burkinshaw: why regulation is good for us
Lettings professionals have, for years, argued for more regulation and, says Frances Burkinshaw, it has dramatically improved the sector.
Read More » -
Movers & Shakers
Coulters’ new appointments
Solicitor-estate agency, Coulters is celebrating a record year of business after reporting a 30 per cent profit on turnover, exceeding the industry average, a year after merging with HBJ Property.
Read More » -
Latest property news
Auction news – May was strong and stable…
David Sandeman from Essential Information Group, reports on the latest auction results.
Read More » -
Latest property news
Scarborough landlord licensing scheme launched
Town is latest of over 35 selective licensing schemes to be introduced over past two years.
Read More » -
Housing Market
Govt lettings squeeze drives up rents as landlords exit
The number of properties available to rent has fallen and prices are rising as the government’s recent Stamp Duty and tax allowance changes take their toll on the the lettings market, says franchise giant Belvoir. “Belvoir’s Q1 rental index, which is prepared for us by property expert Kate Faulkner, has identified some interesting trends, which we believe are a direct result of recent changes to BTL legislation,” says Belvoir’s Chief Operating Officer, Dorian Gonsalves. This includes that the number of landlords bringing between six and ten properties to the market has declined while the number of landlords bringing up to three properties to market remained static. Dorian says the reasons for this include additional Stamp Duty for buy-to-let property buyers and the radical changes to the way mortgage interest tax relief is calculated, which has reduced or cancelled out profits for many landlords. Lettings To counter these measures, Belvoir says, landlords are seeking the highest rental prices for their properties and driving up rents across the UK which have risen year-on-year by 5.75%. “Since 2008 [when Belvoir began its index] rents have moved broadly in line with wages and large movements over and above +/-5% rarely happen,” says Belvoir’s Chief…
Read More » -
Latest property news
Newport landlord is first to be fined for non-compliance with Rent Smart Wales
The first fine has been issued to a landlord for not being registered or licenced under the Rent Smart Wales scheme. Landlords who rent out properties in Wales have, since November 2016, been required to register with Rent Smart Wales and must now provide information about both themselves and their properties. Also, landlords must also either have a licence to be a landlord in Wales, or use a letting or managing agent who is licenced. Rent Smart Wales The first landlord to be collared by the scheme is Robert Ivor Grovell who lives in the village of Llanfrechfa outside Newport. After being successfully prosecuted Grovell must now pay £4,400 both for failing to comply with Rent Smart Wales but also for operating a “dangerous, unlicensed house in multiple occupation”, the organisation says. He must also pay costs of £1,000 and a victim surcharge of £170. Non-compliance Grovell was prosecuted under Section 7(5) of the Housing (Wales) Act 2014 at Newport Magistrates court for his non-compliance. The offence was one of a number brought against him by Newport City Council for housing-related offences at a property on Orchard Street in Newport to which he pleaded guilty. In December last year Environmental…
Read More » -
Purplebricks shares jump by £45m in one day
Purplebricks shares rose by 4.32% or £45.8 million yesterday during trading on London’s AIM, valuing the hybrid estate agency at £1.11 billion. At the end of trading, Purplebricks shares price stood at £4.10p, nearly four times its price in mid-November last year and the highest it has been to date – a year ago they were trading at just £1.37p each. This means the company, which recently launched a new tranche of ‘commisery’ TV adverts, is now valued at nearly three times the market capitalisation of Countrywide, and almost as much as Savills although it still has some way to go before it reaches ZPG (£1.63 billion) or Righmove (£4 billion). Belvoir Lettings also saw its share price rise yesterday, by 2.34% to £1.06p but Countrywide’s share price dropped by nearly 3%. Encouraging results Purplebricks’ most recent trading statement on the 4th may saw its share price rise by 2% on the back of good news from its UK operation including instruction growth of 83%, and “encouraging” results from its fledgling Australian operation. At the time leading investment advice website Motley Fool pondered whether its then share price of £3.22p could ever reach £4, surmising that “Purplebricks could quite conceivably…
Read More »
