deposits
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Latest property news
‘Half of landlords in the UK expecting fees rise after ban’
Half of all landlords in the UK expect their agent to pass on the costs of running their property after the draft Tenants Fees Bill becomes law next year, it has been revealed. The research, which was completed by ‘deposit alternative’ start-up Reposit, also shows that letting agent fee increases are one of the most common unexpected costs among landlords, alongside repairs and renewal fees, and that a third of landlords have experienced paying costs they weren’t expecting. But the research also reveals that increased fees are not the main reason landlords leave their agent. Of the 41% of landlords who told Reposit they had left their agent in the past, only 11% said it was over raised fees. Instead, customers service (61%) and bad property care (26%) irked them more and prompted them to find a new agent. “With changes to buy-to-let legislation and a ban on tenant fees, landlord perspectives are more important to letting agent revenues than ever before and very little is known about UK landlords’ relationships with their letting agents,” the reports says. But Reposit says the increased costs of being a landlord including the recent hikes in Stamp Duty and reductions in tax breaks,…
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Features
Deposits -v- insurance
New insurance products claim to negate the need for a deposit. Eddie Hooker, CEO of Hamilton Fraser has reservations.
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Latest property news
TDS courses now cover (much) more than just tenancy deposits
The Tenancy Deposit Scheme has launched a six part training programme for letting agents and landlords. The training expands on its existing courses, which have focused on deposit protection and adjudication workshops. The programme kicks off with the legal issues around setting up a tenancy and the full day course will be led by Solicitor and TDS legal advisor Hilary Crook. The first course starts in March and is available to book now, with future courses being released in the coming months. Commenting on the launch, Steve Harriott, Chief Executive of TDS said; “Customers have really valued our deposit protection training but told us that they want more detail. These courses all tie back to deposit protection, but take a detailed look at key parts of the tenancy life cycle. With such a focus on raising standards in the private rented sector, our training is intended to arm the property professional with the insight and very best practice to stay the right side of the law.” Further dates for the popular TDS Academy Foundation course and adjudication workshop, are also now available. To book, visit https://www.tenancydepositscheme.com/academy TDS wins place in The Sunday Times Best 100 companies Meanwhile, The Tenancy Deposit Scheme (TDS)…
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Features
Investigation: How are the tenancy deposit schemes performing?
Nigel Lewis talks to letting agents about their experience using tenancy deposit schemes and looks at a recently launched alternative.
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Latest property news
Average size of a deposit rises by £5,000
The average deposit on a property in England and Wales rose by c. £5,000 year-on-year...
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Latest property news
Beehive, tenants – it doesn’t belong to you
Direct Line for Business has published a new report which reveals that 30 per cent of people who have rented a property in the last five years think it is acceptable to take items that don’t belong to them when they move out.
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Latest property news
Deposits rise
Tenancy deposits ‘threatening to break £1,000 threshold’, says The Deposit Protection Service.
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Features
Deposits, rates and loans
Andrea Kirkby reviews the latest offerings and restrictions within the UK mortgage market.
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Latest property news
Deposit issues could be removed with special loan
Average deposit is now nearly £30,000 as house prices rise, causing problems for buyers.
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Latest property news
Private landlords letting without contracts
New research by Direct Line for Business reveals that one in ten private landlords has no formal tenancy agreement in place with their tenants. Even where contracts are in place, landlords may unwittingly be asking tenants to sign documents that are not legally compliant. Of the landlords who don’t use a letting agent, 58 per cent used adapted tenancy agreements from either old agent contracts or other landlords (38 per cent) or an updated template they found online (20 per cent). Direct Line said that it appears that some landlords employ letting agents when they first rent out the property, then use the old contract template when agreeing a direct rental with new tenants or upon renewal with their existing tenants. The lack of professionally reviewed tenancy agreements may explain why more than one in eight (13 per cent) landlords have experienced disputes specifically arising from tenants’ rental contracts in the last two years. Also concerning is that nine per cent of landlords have not informed their tenants that their deposit is held in a government-backed tenancy deposit protection scheme (TDP). Nick Breton (left), Head of Direct Line for Business said, “Tenants and landlords need a contract in place to…
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