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Tenant fees Ban

From 1st June 2019, landlords and letting agents will no longer be able to charge tenants fees for many of the things they used to charge for. The Tenant Fees Act controls what payments landlords or letting agents can ask for in England. Basically, ALL payments are prohibited unless it is a payment for something that is expressly allowed for under the Act. It’s a certainty that letting agents will look to make up the fees they used to charge tenants, by charging landlords more. So what is changing? Under the new laws, agents and landlords can only charge tenants for the following items, in connection with a tenancy: a) Rent b) A refundable tenancy deposit, capped at no more than five weeks’ rent, if the total annual rent is less than £50,000, or six weeks’ rent if the annual rent is £50,000 or over. (We strongly advise landlords to always arrange for a thorough, independent inventory to be done at the start and end of the tenancy, so they will be able to make deductions from the deposit in the event of damage to the property, missing items or anything else that can be classed as more than fair wear and tear. Always charge up to the maximum five or six weeks, as it may be prove a useful set-off against unpaid rent). c) A refundable holding fee of no more than one weeks’ rent, once you’ve agreed to let to a tenant. (This will give you a little protection against voids, if the tenant changes their mind, last minute, leaving you in the lurch!) d) Amendments to the tenancy agreement, if requested by the tenant – and capped at £50, unless you can justify a higher expense. e) Payments associated with the ending of a tenancy before the stated end date of a tenancy agreement, when that early ending was requested by a tenant. f) Payments for utilities, TV licence, council tax and communication services. g) Default fees for late payment of rent and replacement of a lost key or other security device, where this is stated and allowed for in the tenancy agreement. Letting Agents Fees Will Increase – So Will Rents As letting agents can no longer charge tenants for such services, their costs will be passed onto landlords by way of increased fees. In response, landlords are very likely to raise rents. There is evidence this happened in Scotland, when tenant fees were banned, some years ago. Landlords who use letting agents to find tenants and manage their tenancies ought to be having a conversation with their letting agent now – to find out if and when their fees will rise. Where landlords decide they must increase rents, they have to give a month of notice (where the rent is paid monthly) or 6 months notice (for those rare cases where rent is paid just once a year). Most tenancies will allow for rents to be reviewed annually. Of course, landlords should remember that all letting and managing agency fees are deductible against rental income for tax purposes. Landlords, faced with increased letting agency Tenant Find and Tenant Management fees might like to start thinking about doing the job of “Tenant Find” and “Tenancy Management” themselves. Both our two books for landlords cover in clear and simple language how to do this. There are links to both books at the bottom of this page. The “Successful Property Letting” book covers both tenant find and management (as well as a whole lot of other stuff), while the book, “Buy to Let Landlords Guide to Finding Great Tenants” is focussed just on the tenant-finding process. Both books explain how to do it all yourself, without using a letting agency and both look at the pros and cons of using a letting agent – and how to find a good agent (and avoid a duff one). Tenant Fees Ban – Was It Needed? Was the tenant fee ban really needed? No it was not, in my opinion, if the government had acted with more sense. My blog, from 2016, explains that previous tenant fee transparency laws were being routinely ignored by individual letting agents. I said back then that the government should, in response, have forced the big PORTALS to be clear about fee transparency and started dishing out fines on them. There are only two really big portals – Rightmove and Zoopla and pretty well all letting agents have to use them for their adverts to be seen by the public. Fines placed on the main two portals would have been easy to manage and soon the message would have got through to the actual letting agents – Clean up your act, be more transparent, or we will ban you from placing adverts on our portals. But this opportunity was missed. And so, the government decided to ban pretty much all fees charged to tenants – which is why the Tenant Fees Ban law has been passed now. See the link to my 2016 blog, here: Tenant Fees Are Not Being Displayed on Adverts for Let Property Tenant Fees – The Losers Will be…. Losers from the cap on deposits will be more “risky” tenants – those who landlords judge to be more likely to not pay rent. It can take 5 to 6 months to secure possession if it goes all the way to a bailiff. So with deposits capped at five weeks, landlords will be even less likely to let to risky tenants. And for some landlords, this will be another straw on the camels back, making them sell up, thus reducing the available housing. Pet owners will find it harder to find accommodation too. Previously, landlords could charge a higher deposit, where there was going to be a cat or dog in residence. They will not be able to now, so their owners will probably find more landlords will just say “no” to them and their animals. Existing Tenancies and The Tenant Fees Ban Tenancies which started before 1st June 2019 will not be affected. Neither will landlords with existing tenancies, (pre June 1st 2019), necesarilly have to pay part of deposits back, where that deposit was more than the new cap of five or six weeks’ rent. However, they will, if the tenancy is renewed. So our advice to landlords is to let existing tenancies simply run on as contractual periodic tenancies or statutory periodic tenancies. ABOUT LETTINGFOCUS Services for Private Landlords We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk. Our advice is completely independent. We take don’t commission payments or fees from anyone, ever. Services to Businesses and the Public Sector We advise a range of organisations too to help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media. HOME PAGE OF THIS BLOG: Blog THE HOME PAGE OF THE MAIN SITE: http://www.LettingFocus.com For general information on our CONSULTING SERVICES: Consultancy and Seminars For ONE TO ONE PRIVATE CONSULTANCY FOR PRIVATE LANDLORDS: Property Advice CLIENT TESTIMONIALS – from both organisations and private landlords: Testimonials IN THE MEDIA: Recent Press Coverage BOOKS: “SUCCESSFUL PROPERTY LETTING”: Our book is the highest selling personal finance and property book in the UK. Click here to Find Out More and Buy it. And if you are from an organisation and would like to bulk buy, please ask us for special rates. “BUY TO LET LANDLORDS GUIDE TO FINDING GREAT TENANTS”: Also, get this great new guide here, which covers everything you’ll ever need to know to avoid either you or your letting agent getting anyone other than the perfect tenant. Click Here to Buy It. BOOK FOR TENANTS: Kids going off and renting for the first time? My Book for Tenants is also Available TO JOIN OUR FREE NEWSLETTER MAILER which goes to over 3,990 people (as at Jan 2019) just send an email to [email protected] We do not send spam or sell our mailing list to advertisers, though we occasionally mail landlords about good products from third parties. Please put us on your “white list” to ensure you receive our emails. OFFERS ON PRODUCTS FOR LANDLORDS and TO ADVERTISE YOUR PRODUCTS to LANDLORDS: Landlords ResourcesThe post Tenant fees Ban appeared first on Letting Focus.

https://www.lettingfocus.com/blogs/2019/05/tenant-fees-ban/

#General #Tenancy deposits #Tenant Fees #Tenant Fees Ban #Tenant Fees Act

Proofing Your Property from Potential Damp

Proofing your property from potential damp is a topic that every property owner should strive to understand the significance of. In most cases, time and money is spent simply repairing the problems caused by damp, when an initial installation of a damp-proof course could have prevented these problems from occurring in the first place.By acting and seeing if installing a damp-proof course is the course of action needed, you’re putting a stop to any future damp entering your property, and therefore preventing any future damage from occurring. This is paramount as with damp affecting millions of properties each year, prevention is most certainly cheaper and better than a cure.So if you are worried that your property could be suffering from the effects of damp and think you need a damp-proof course installed then it is worth carrying out a few simple checks first and being property aware as well as getting advice from a specialist damp proofing in essex. This way you have peace of mind that you are doing everything necessary to be proofing your property from potential damp. How can I tell if my house needs damp-proof course treatment?• Start by inspecting the pointing of any exterior brickwork. If you discover any flaky or crumbling mortar, then this could be an indication of damp being present and consulting a damp specialist is advisable.• Check to see if the damp proof course is compromised in any way as this could be causing water to bypass and penetrate into the property.• Check your internal walls including basements areas. If you see a white powdery looking tide mark and the walls feel very cold or damp to touch, then this can be an indicator your property may be suffering from rising damp.• A regular check and cleaning of any gutters or downpipes is recommended. This will ensure rain water has a free unrestricted flow to your drains. Any build up of debris can cause an overflow of rainwater onto brick work and this will potentially allow damp to penetrate into your home.• Make a point of checking your roof particularly after any severe weather or storms. Damaged or missing tiles can let rainwater into your loft space and can lead to problems such as dry rot and woodworm. It is also advisable to check your chimney stack ensuring that the lead flashings are in place and everything looks in good order. A local roofing contractor will be able to carry out these checks for you, but you may also need a damp and timber specialist to check for any resulting damp problems.• Try to keep your house well ventilated at all times. By providing enough ventilation, you will help minimise internal condensation and therefore less damp will be present. Pay particular attention to utility rooms which house tumble dryers, bathrooms without extractor fans and rooms where condensation on windows is an issue, as moisture will be considerably higher.• Don’t forget a damp smell can also indicate a damp problem so keep your eyes and nose peeled. It is important to remember that not all damp problems need damp-proof course treatment to put them right. This is where the advice of a PCA registered damp proofing company is important. Their role is to diagnose the problem, the source of the moisture and recommend the correct methods to put it right. This could involve a damp-proof injection, but it could also be a case of stopping the water ingress by repairing a leaking downpipe and letting the wall dry out, adding more ventilation to the home by extractor units or repairing pointing to stop the water penetrating through the brickwork. Damp problems can be resolved in a number of ways so seeking the right advise is always paramount.The post Proofing Your Property from Potential Damp appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/proofing-your-property-from-potential-damp/

#Home Improvements #Damp #Home #property

Looking to move? Brand new and exciting developments in London to keep your eye on

With the London skyline constantly changing down to the help of ambitious regeneration zones, there are tons of exciting new homes on the horizon. Whether you’re looking to rent, buy or invest, we’ve taken a look at some of the most interesting property developments happening across the capital. With some more focused on design, and some with the environment as a priority, it’s an exciting time for London residents or those dreaming of moving to the city. Greenwich PeninsulaThis regeneration project promises to ‘be the capital’s most boldly modern cultural landscape’. With £8.4billion being invested into Greenwich Peninsula, the development will provide 3,930 new affordable homes, create 7 emerging neighbourhoods with over 150 acres of land, 2 new schools and 48 acres of green space.Although a 20 year wait until completion, a one-of-its-kind ‘design district’ is set to open in the development in 2020 providing a pedestrianised space with artists’ studios, a market hall and flexible work spaces.Working on the design of the project independently from one another are 8 architectural companies including Schulze and Grassov from Copenhagen, Architecture 00, Mole and 6a. Vauxhall Cross IslandRedevelopment has been confirmed at the Vauxhall Cross Island site near Vauxhall Station as part of the huge Nine Elms regeneration project. 257 new homes, offices, retail sites, a 618-room hotel and a new public square are amongst some of the proposed developments. The development will be a major project featuring a 53 and 42 storey tower connected by a shared podium.Approved by planning officers because of the contribution to affordable housing as well as the land swap, the development will replace a bus station that is currently at the site and change the road leading to the Vauxhall roundabout back to a two-way road. Ealing FilmworksOver 200 stylish new homes will be built at the old Empire Cinema site in Ealing town centre. Built in 1934, the project will see the original Art Deco style brought back to life with columns and cast-iron detailing at the front. The development project by St George at Berkeley Group will see the highly sought after apartments built around a central piazza creating a one of a kind property.Ealing Filmworks will also include an 8 screen Picturehouse cinema, and a variety of restaurants, community facilities and shops including Planet Organic and Vapiano, with all the amenities you could need. The apartments are now available to view and with the arrival of Crossrail they’re only 11 minutes from Bond Street. 360 BarkingWith over 2,000 homes promised as well as an art house cinema and smarter shops, the new £2billion regeneration project in Barking offers first-time buyers homes for less than £84,000. This is a fantastic opportunity for property-obsessed Londoners looking to relocate to an award-winning designed development near green space and Barking Station.A number of different properties are being built, ranging from apartment towers to restaurants, cafes and commercial buildings. The regeneration project will create a hub in East London with many new building works planned to inject life back into the area and create a desirable place for people to live. One Blackfriars One Blackfriars is an exciting new addition to London’s skyline, standing on the site of the former Sainsbury’s supermarket headquarters on Blackfriars bridge overlooking the River Thames. Once complete the building is expected to be one of London’s most outstanding examples of architecture.The development is envisioned and carefully designed by British architect Ian Simpson of SimpsonHaugh and Partners. The 170-metre high tower and 274 apartments are located perfectly to embrace the cultural life that exists on the South Bank and will create a really exciting place to live.Patchwork London is a new tool launched by housebuilder the Berkeley Group that delves into the backstory of London and highlights some of the key areas of regeneration in the capital. Offering an in-depth journey through London’s past, it provides insights in to the changing landscape of the boroughs and examples of the incredible architecture and design that has created exciting new homes across the city. The post Looking to move? Brand new and exciting developments in London to keep your eye on appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/new-exciting-developments-london/

#Property News #Investment #London #property

How to Invest in UK Property from Abroad

In one of Europe’s most exclusive markets, let mortgages provide overseas buyers a viable option to luxury or multiple property investment.“A great way to capitalise on your purchase, let mortgages provide the benefits of loan payoff terms that allow for tenant rental income to offset costs. Let loans also offer buyers maintenance or rehabilitation funds to increase the value of a property asset immediately.” Hank Zarihs Property Development Finance SpecialistsRules laid for in the Britain’s Shorthold Tenancy Act offer special let mortgage schemes to expatriate buyers, as well as UK and foreign national residents. Cross-collaterising investment mortgage packages of this sort may be attributed to the purchase of a number of property assets, covering up to 100 percent of the total financing on the investment. Buyers may source collateral from a range of International Bank Guarantees, Portfolio Investments and Offshore Bonds — for both commercial and personal property investment.In the United Kingdom it is often difficult for foreign investors to find buy-to-let mortgages. Seek loans unregulated by the national Financial Services Authority (FSA). Unregulated buy-to-let mortgages allow for property investment where not a ‘primary residence’ on application. Low interest rate indexes on buy-to-let loans are typically 1.5% – 3% — just above the UK base or Libor rate. The UK offers outstanding loan values up to 75% of total purchase price, with terms to buy-to-let payoff up to 25 years. Currency conversion agreements are flexible, and can be calculated according to home income rate as part of the pay-off plan.Despite the almost universal shortage of affordable UK properties and decline in the gross mortgage sector since 2008, investors looking for low risk resale value, mortgage prospects for foreign nationals are better than ever, says the Council of Mortgage Lenders (CML). Based on the volume aggregate market in the UK’s capital and popular holiday cities, those looking for property investment can find a wide range of opportunities in buy-to-let loan programs advertised by about 80% of UK lenders.Whether searching for a flat or multiple unit letting property, the variety of investment properties available to buy-to-let buyers has never been better.Contact an established UK financial services firm, or registered property broker to provide you with lender detailsThe post How to Invest in UK Property from Abroad appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/invest-uk-property-abroad/

#Property News #Investment #London #property

Consulting advice – a case study

Some months ago I was contacted by someone who wanted some advice on his very small landlord and property investment business. He told me he had just one property and was not sure what to do with it – whether to do it up and let it or do it up and sell it instead. Currently, he was also interested in buying a large, old run down pub on a very big space too. That would be a big project and he needed investors for it, but was not sure how to go about getting them. So, he bought a half days’ consultancy with me and we set to work looking at things like the area it was in – what was the potential for letting and sale longer term, and so on. He explained his background in some detail. He had left school with very few qualifications, but he had later trained as an electrician, becoming a qualified at this, in due course. He was now in his mid 30s. A lot of his early emails to me and his conversation too was peppered with things like “adding value”, no money down”, “cash on cash yield” and “breaking free of paradigms”. So it was clear to me from this that he had been to a lot of the property “meets” that take place around the country. And in doing so, he had picked up plenty of the vernacular and buzzwords that you often hear at such places. He admitted he often felt overawed by the people he saw speaking at these events. They all seemed so confident, so well educated, such fluent speakers and they had achieved so much too. But it was obvious to me that by going to the property events he had become more confused, unsure of himself. Then, suddenly about 25 minutes into our session, he mentioned that he had done up a property before. Then, he added, he had done others too over the years. So I asked if he had any pictures. He had – but only of one property showing various “Before and After” pictures. He had not thought to take any of the other places before he sold them. Well, when I saw the pictures, I was very taken aback. This was a really good example of work done well. He had achieved a superb transformation of a run-down property – and all in a very quick time, making a very tidy profit on the sale. And then he had repeated the exercise four more times. And he had done it all himself. So where did it go from there? Our Consulting Solution Well, I told him to prepare a portfolio listing the properties where he had done refurbs and then sold – buying prices, costs of works and selling prices plus timescales. And to also take lots of end-pictures of his current project too. Then to take that to meets where he could meet investors. But the main thing I could give him was the assurance that he was in fact, very good at what he did – and to feel confident about his abilities, which were really exceptional. What I found fascinating is that there must be lots of people who go to property meets, who are like him, who are perhaps a bit shy and who feel a little overwhelmed by what they feel are smart, clever people, who perhaps, have the gift of the gab. So, next time you are at a property meet, take time to talk to the shy man or lady who has not spoken to anyone. They may just be hidden geniuses with whom you can make a lot of money. ABOUT LETTINGFOCUS Services for Private Landlords We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk. Our advice is completely independent. We take don’t commission payments or fees from anyone, ever. Services to Businesses and the Public Sector We advise a range of organisations too to help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media. HOME PAGE OF THIS BLOG: Blog THE HOME PAGE OF THE MAIN SITE: http://www.LettingFocus.com For general information on our CONSULTING SERVICES: Consultancy and Seminars For ONE TO ONE PRIVATE CONSULTANCY FOR PRIVATE LANDLORDS: Property Advice CLIENT TESTIMONIALS – from both organisations and private landlords: Testimonials IN THE MEDIA: Recent Press Coverage BOOKS: “SUCCESSFUL PROPERTY LETTING”: Our book is the highest selling personal finance and property book in the UK. Click here to Find Out More and Buy it. And if you are from an organisation and would like to bulk buy, please ask us for special rates. “BUY TO LET LANDLORDS GUIDE TO FINDING GREAT TENANTS”: Also, get this great new guide here, which covers everything you’ll ever need to know to avoid either you or your letting agent getting anyone other than the perfect tenant. Click Here to Buy It. BOOK FOR TENANTS: Kids going off and renting for the first time? My Book for Tenants is also Available TO JOIN OUR FREE NEWSLETTER MAILER which goes to over 3,990 people (as at Jan 2019) just send an email to [email protected] We do not send spam or sell our mailing list to advertisers, though we occasionally mail landlords about good products from third parties. Please put us on your “white list” to ensure you receive our emails. OFFERS ON PRODUCTS FOR LANDLORDS and TO ADVERTISE YOUR PRODUCTS to LANDLORDS: Landlords Resources PERUSE LAST TEN BLOGS BY GETTING THE RSS FEED: Click Here NEXT ANNUAL SEMINAR EVENT FOR LANDLORDS: Landlord and Property Letting Seminar TWITTER PAGE My thoughts on property, personal finance, plus a lot of other random things: Twitter The post Consulting advice – a case study appeared first on Letting Focus.

https://www.lettingfocus.com/blogs/2019/05/consulting-advice-a-case-study/

#Consulting Advice #General

A window of buy to let opportunity – but for how long?

Political and economic uncertainty have affected the housing market for several months now, but Mark Carney has warned of possible change, that could affect buy to let mortgages in the not-so distant future. Andrew Turner, chief executive at specialist buy to let broker Commercial Trust Limited, argues that the present window of opportunity for what may seem favourable buy to let conditions in a few months’ time, may be closing.The Bank of England’s Monetary Policy Committee announced that the base rate would remain at 0.75%, on May 2nd, offering temporary good news to those with buy to let mortgages or looking to borrow.However, the announcement came with a proviso from the Governor of the Bank, Mark Carney, who told a press conference:“”If something broadly like this forecast comes to pass… it will require interest rate increases over that period and it will require more, and more frequent interest rate increases, than the market currently expects.”The caveat is of course that the outcome of Brexit negotiations and their impact on the Bank of England’s expectations, will determine future base rate moves. The impact of the base rate on buy to letFor landlords with a buy to let mortgage on a variable or tracker rate, the implications of a rates rise or fall can change their annual payments by hundreds of pounds.In an atmosphere where rates are almost at historic lows, the prospect of monthly payments increasing on a variable or tracker rate mortgage, should the Bank increase the base rate, will seem very unappealing.So the decision to hold the base rate for the eighth consecutive month, might be an opportunity for many landlords to review their existing portfolios and consider remortgaging to a lower, fixed rate buy to let mortgage, particularly given the glut of products available in a competitive market.A fixed rate mortgage is safeguarded against base rate changes for the duration of its term, while variable and tracker rate mortgages might be susceptible to any changes. Mr Carney’s suggestion is that rates are more likely to go up rather than down.Moneyfacts recently indicated that there are over 2,000 products available in the buy to let market now, a twelve-year high. Fierce lender competition has helped to drive costs down in a bid to entice buy to let landlords.A conversation with a specialist buy to let broker, can help to identify a clear strategy and the right type of buy to let deal for individual circumstances, faced with such choice. Other factorsIt has been widely reported that house price growth has stagnated, albeit on a regional basis in the UK, with many buyers and sellers holding fire to await the outcome of Brexit.However, with negotiations extended, there is a sense of getting on with normal life for many people now – and a recent report from estate agent haart, indicated a 12% monthly rise in London-based landlord registrations in March.Meanwhile, the Bank of England is forecasting up to a 1.25% fall in house prices during 2019, with Brexit and affordability in some areas attributed for this drop. A buyers’ market?Whilst this is taking place, tenant demand remains undiminished, as those unable to afford to buy a home, seek accommodation in the private rental sector.So for those with money to spend, the current environment may offer opportunity to invest in buy to let with lower house prices, soaring tenant demand and historically low interest rates.I would suggest anyone holding off at the moment, faced with these facts, to consider what they are waiting for?The bigger question is how long current conditions will last? Mr Carney’s suggestion is that a change in interest rates is just around the corner.That could mean that the competitive deals currently available, may soon evaporate with any base rate change.So whether you are a first-time landlord or considering remortgaging, while time is currently on your side regarding interest rates, how long will that last? Main image – richardharriscoaching.comThe post A window of buy to let opportunity – but for how long? appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/a-window-of-buy-to-let-opportunity-but-for-how-long/

#Uncategorised

London buy to let business picks up in Q1

New data from specialist buy to let broker Commercial Trust Limited, reveals that London buy to let business showed positive signs of recovery in the first quarter of 2019.The number of submitted purchase mortgage applications for the capital, in the calendar year to April, rose by 4% on the previous quarter.Q1 saw London regain its position as the leading region for buy to let business applications, with 15.8% of overall business, closely followed by the South East on 14.5%.In Q4 of 2018, the South East had overtaken London for the first time.Commercial Trust’s data ties-in with a recent report from London estate agent Chesterton’s, who recently reported a March increase in the number of people registering to look for and those offering properties, in London.The East of England and the North West also enjoyed an increase in the proportion of buy to let applications submitted during Q1, with both accounting for 12.5% of this type of business.The same two regions shared top billing for buy to let completions over the quarter, with each contributing 13% of overall completions.Overall, remortgage buy to let applications continued to dominate in Q1, with 60% of business coming from landlords looking to refinance their mortgages.Andrew Turner, chief executive at Commercial Trust, commented:“The effects of Brexit have been keenly felt in London and perhaps the stalling of house price growth has to some extent created a buyers’ market for buy to let.”“Our latest figures underline the importance of London and the South East within the buy to let market.”“For the first quarter of 2019, these two regions contributed over 30% of our buy to let purchase applications, an increase from the 26% recorded in Q4 of 2018.”“Whilst it is good news to see increased activity in London, movement is not restricted to that area and both the North West and East Anglia have also increased their proportion of overall purchase business during the quarter.”“With Brexit now pushed back to later in the year, the combination of low interest rates, a wide variety of mortgage product choice, stalling house prices and soaring tenant demand, many investors are of a mind to invest in the private rental sector.”The post London buy to let business picks up in Q1 appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/london-buy-to-let-business-picks-up-in-q1/

#Property News #London #property #Property Market

DSS Discrimination

Some Housing and pressure groups have started a campaign to end what they call “DSS Discrimination”. DSS Discrimination They say landlords and letting agents should not be allowed to state in adverts that they do not wish to take people on as tenants if those tenants are dependent on housing benefit. (The old DSS tag refers to the old days and is shorthand for the “Department for Social Security”, now effectively renamed the Department for Work and Pensions). Landlords and letting agents have, of course, been saying “No DSS” for a long, long time – and increasingly so since the government effectively capped the level of total benefit people could receive and also since they decoupled housing benefit from median market rents. Many (though not all) landlords and letting agents have often pointed out that the level of housing benefit is now too far away from market rents to make it feasible for the tenants to afford market rents. This is especially true of places like London. In addition to the actual level of housing benefit being too low, they also say the constant tinkering with how the housing benefits are administered – especially the hokey-cokey of whether or not it could be paid direct to the landlord – is a problem. Plus, the fact that there have been delays and problems with payments under the new over-arching Universal Credit payment system are additional reasons why landlords put up the “No Housing Benefit” signs. Landlord also don’t like the fact that housing benefit is paid in arrears, whereas rents are due at the start of the “tenancy-month”. DSS Discrimination – The Bond Solutions And while help is very occasionally available from local government for deposits (using bonds) and rent in advance assistance schemes, landlords have long complained that these are in practice, very hard to claim against, with payments-out from bond schemes being slow and the process, cumbersome. Landlords are effectively saying, “We are not social housing and we don’t have a duty to provide housing to everyone”. In addition, despite our work at LettingFocus in the past, some mortgage lenders’ terms and conditions in their buy to let loans still expressly disallow lets to people on housing benefit. And some insurance companies either refuse cover or demand higher premiums or excesses or both. Landlords with loans with such lenders have their hands tied. If they accept housing benefit tenants, they are effectively breaking the terms of their mortgage loans. It was not always this bad. Back in the day, I know many landlords who had a very good experience of letting to tenants on benefits. Indeed, I recall James Davis, Chief Executive of online letting agent, UPAD, speaking at one of my events around 12 years ago, telling landlords to remove their prejudices against tenants who were on housing benefit. DSS Discrimination Has Got Worse He said, he had let his properties to housing benefit tenants for years – and by choosing the right people, he had very few problems. He pointed out a valid truth that one of the greatest benefits was that tenants on benefits tended to stay a long time – so no costs of having to re-let very few years with the attendant voids that often come with that. But then things changed around eight to ten years ago when the government decided to cut the housing benefit payments to less than median rents and cap the total benefits a family could get. Later on, payments or benefit direct to landlords was severely curtailed, significantly increasing the risk that the tenants would spend the money on something other than rents. James, like many landlords, could no longer make it work for him in his London properties. With great regret, he had to give many long standing tenants notice to leave. And so, that is where we are today. In some areas today, outside the capital and for the right types of property in less expensive areas, the housing benefit levels mean that letting to benefit tenants can still just about be made to work. DSS Discrimination – Private Landlords are Not SOCIAL Landlords Sure, landlords can be made to stop writing “No DSS” on adverts. But they cannot be forced to actually let to people who their assessment procedures say will be unable to afford to pay the rent. They cannot be forced to act to mop up the mess created by the government years ago when it sold off the bulk of its council housing stock – stock that has still never been rebuilt in any numbers. Stopping them putting “No DSS” on adverts will not somehow magically make the tenants able to find and prove they have enough income sufficient to pay the market rents. They either have it or they don’t! After being clobbered with endless new regulations and tax rises, landlords are not willing to house people who cannot afford to pay rent. This campaign is actually a distraction and will waste everyone’s time. i recall Crisis, the housing charity whom I rather like, doing some useful work in the past, showing that tenants on benefits were often good for landlords – and setting up and linking in with local authority and charity “private rented sector access schemes”. This was useful work and could be promoted more by Shelter, if they could only get off their high horses. And I have always applauded the pragmatic and practical things Crisis do, (and far prefer it to the preaching of Shelter) – but surely these days, even they would surely struggle to make lets to housing benefit clients work for landlords in most of London. ABOUT LETTINGFOCUS Services for Private Landlords We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk. Our advice is completely independent. We take don’t commission payments or fees from anyone, ever. Services to Businesses and the Public Sector We advise a range of organisations too to help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media. HOME PAGE OF THIS BLOG: Blog THE HOME PAGE OF THE MAIN SITE: http://www.LettingFocus.com For general information on our CONSULTING SERVICES: Consultancy and Seminars For ONE TO ONE PRIVATE CONSULTANCY FOR PRIVATE LANDLORDS: Property Advice CLIENT TESTIMONIALS – from both organisations and private landlords: Testimonials IN THE MEDIA: Recent Press Coverage BOOKS: “SUCCESSFUL PROPERTY LETTING”: Our book is the highest selling personal finance and property book in the UK. Click here to Find Out More and Buy it. And if you are from an organisation and would like to bulk buy, please ask us for special rates. “BUY TO LET LANDLORDS GUIDE TO FINDING GREAT TENANTS”: Also, get this great new guide here, which covers everything you’ll ever need to know to avoid either you or your letting agent getting anyone other than the perfect tenant. Click Here to Buy It. BOOK FOR TENANTS: Kids going off and renting for the first time? My Book for Tenants is also Available TO JOIN OUR FREE NEWSLETTER MAILER which goes to over 3,990 people (as at Jan 2019) just send an email to [email protected] We do not send spam or sell our mailing list to advertisers, though we occasionally mail landlords about good products from third parties. Please put us on your “white list” to ensure you receive our emails. OFFERS ON PRODUCTS FOR LANDLORDS and TO ADVERTISE YOUR PRODUCTS to LANDLORDS: Landlords Resources PERUSE LAST TEN BLOGS BY GETTING THE RSS FEED: Click Here NEXT ANNUAL SEMINAR EVENT FOR LANDLORDS: Landlord and Property Letting Seminar TWITTER PAGE My thoughts on property, personal finance, plus a lot of other random things: Twitter Copyright of Blog: David Lawrenson 2019. Please link to us here or quote us. We actively pursue copyright infringements. The post DSS Discrimination appeared first on Letting Focus.

https://www.lettingfocus.com/blogs/2019/04/dss-discrimination/

#DSS Discrimination #General #Crisis #DSS Discimination #Housing Benefit #Shelter

Section 21 No Fault Notices and Evictions to be Banned

Section 21 no fault notices and evictions could be banned under Conservative plans for the private rented sector says David Lawrenson of www.LettingFocus.com. But the losers will be the more vulnerable and “risky” tenants who will find they are increasingly shut out of private renting. Section 21 No Fault Notices and Evictions to be Banned Oh crikey! What’s this? The Conservatives are going to get rid of Section 21 (so called “no fault evictions”), thus aping a Labour policy and copying what they already have been doing for a year or two in Jolly Scotland. And here is next PM hopeful (or one of them), James Brokenshire on the TV and radio to explain it all. He’ll be very pleased with himself as the story has got first or second billing on the main news. And why not, as it was all planned before the weekend. Journalists, including me had been briefed (or leaked to by other journalists) and most held their water (as instructed by the government) until Monday. So all were ready with the story. Suddenly the Tories are the private rented sector tenants’ friends, just in time for their votes at the next general election, which gets closer every day with every wrong turn on Brexit. Read the headline and it sure sounds like its more bad news for the private landlord, even though it is just a “consultation”. My brother is soon emailing to say, “Who needs Corbyn and the Marxists when the Tories will clobber private landlords (again) first!” But is it really that bad? On one of the TV channels, the presenter asks Mr. Brokenshire what will happen to people who are going away for a year, to work say. Surely, they will now just not let their property out, draining the sector of yet more stock – and leaving their homes empty. After all, would you risk it is the tenants had every right to stay until they fall off the perch? Section 21 No Fault Notices – Possible Exemptions But Mr. B is ready for this one. As well as some vague talk about possibly speeding up the processes via some sort of special housing court, he also implies there would be exemptions for situations like the expat one. So I got to wondering who would police such “get out clauses”. Mmm. Not the local authorities – they have more laws to use against landlords than you can shake a stick at, but usually don’t use them due to lack of resource. Even those town halls who have big cash coming in from selective licensing schemes don’t seem to do much with it, (with the exception of Newham), other than employ a bunch of people to collect the dough coming in from all the good landlords who have dutifully joined and paid their license fee (while the bad ones hide in the darkness safe in the knowledge that their tenants may have their own reasons for not grassing them up). (Think illegal immigrants / folks who lack confidence / the mentally ill… the list of trembling tenant types is very long!) So what will landlords response to this be? Well, some will see the taking away of Section 21 (no fault notices) as just one more piece of regulation – and another reason to get out of the sector, leading to a shortage of private rental accommodation. “Hooray”, say GenRent, “We can then buy the properties that the landlord sell – and the flood of stock will mean they will be cheaper too”. But that pre-supposes folks want to stay in one place (owning a home is not as flexible as renting) and if they do, that they can get a mortgage anyway. (“Help to Buy” or “Help to Make Persimmon Execs Rich” as I call it, won’t be there forever – and certainly not under the Corbynistas). Other landlords, will stay in the game – and likely find work arounds. Maybe they will all become expats (or pretend to) and seek that exemption. Section 21 No Fault Notices and Evictions – Vulnerable and More Risky Tenants Will be Left Out in the Cold But one thing is for sure, the more “risky” tenant may become less attractive to the average landlord. What do I mean by risky? I’m going to introduce an example, which is actually not that unusual, but it illustrates the point well. Imagine you are a private landlord. You don’t have a portfolio of properties, maybe you have just one or two, even three say. But you are not doing this full time. You are like the majority of landlords in the UK. Now imagine you have a choice of letting to two tenant types – and Section 21 has been abolished. Oh, and this is not a “Conservative Section 21” abolition with “get outs” with the opportunity to say you are going away for a year to work on an oil rig, so you can come back, dust off your overalls and hard hat and get your home back. No, Sir. This is a Corbyn one. This is Section 21 No Fault Notices with no “get out” clauses. In this version, the tenant gets to stay in your property for life, and life really means life, unless they don’t pay the rent for two months, which takes 5 to 6 months to go through the courts before you finally get your home back. The tenants can be as horrible as they like, annoy the neighbours, mess up the property, but as long as they just about pay the rent, they can stay in your property for life, even until after you are dead possibly! Now imagine two tenants turn up. One is an aspiring graduate couple. The other is a couple who have come from a council recovery programme from the Hostel Drug-New Life Restart programme. Of course, you’d like to help the couple on the recovery programme. Of course you would. If there still was a Section 21 No fault Notice option, you could always say, “Well, I gave it a try, but the annoyed neighbours ringing me up every night was just too much, so I gave them notice in the end”. But with no Section 21 No Fault Notice option, would you be as likely to take the risk? The tenants could be there for life, unless they are dumb enough to do something like not pay the rent for 2 months or run a cannabis farm at the property – and get caught. So, vulnerable people and other potentially risky tenants will certainly find it harder to get private rented accommodation. Maybe Polly Neate, the boss at Shelter has thought this through and has an answer. But I doubt it. Section 21 No Fault Notices and Evictions – Joe Halewood View Joe Halewood, who could no way be described as a private landlord lover, but is someone who does understand the private rented sector and housing generally, has written a great piece on this. If he can see that one of the key flaws in removing Section 21 is that, then why not the zealots at Shelter and Generation Rent? He wrote at his blog at wordpressSpeyjoe2, as follows: This doesn’t just affect general needs rented tenants but everyone who is in a homeless hostel or in a domestic violence refuge as the exit from these is mostly to the private rented sector. If hostels and refuges can’t move people on then they can’t move people into homeless hostels or domestic violence and abuse refuges! Yet today we see Polly Neate the chief executive of Shelter and previously chief executive of Women’s Aid lauding the proposed removal of the no fault eviction on mainstream TV, radio and across social media when the policy will see more homeless on the streets and more women having to suffer domestic violence and abuse because there is nowhere they can flee to that is available! Today we also see the rump of the social rented sector lauding this proposal too as good news. Let’s hope every housing association stops using ‘starter tenancies’ with immediate effect as these too can be ended by a no-fault eviction as they are the same AST tenure as used across the private rented sector and last year official figures show 83% of new housing association tenancies were these no-fault eviction starter tenancies. Joe Halewood Section 21 No Fault Notices and Evictions Ban – Data Shows it is Not Needed Government data shows that on average tenants live in their rental properties for over four years and that in 90 per cent of cases tenancies are ended by the tenant rather than the landlord. Their data also shows that it takes over five months from a private landlord applying to the courts for a property to be repossessed to it actually happening. Research by Manchester Metropolitan University for the Residential Landlords Association (RLA) has found that in a large majority of cases where tenants are asked to leave their properties under Section 21 notices, there is a clear reason. Half of the notices are used where tenants have rent arrears, are committing anti-social behaviour or damage to the property. Other common reasons include the landlord needing to take back possession of a property for sale or refurbishment. The report’s authors argue that this “raises questions” about whether the use of Section 21 notices can properly be described as ‘no fault’ evictions, as some have called them. Sources: (Thanks to the Residential Landlords Association for these) The Royal Institution of Chartered Surveyors Residential Market Survey for March 2019 can be accessed at: https://www.rics.org/globalassets/rics-website/media/knowledge/research/market-surveys/uk-residential-market-survey-march-2019-rics.pdf. It warns that: “In the lettings market, tenant demand continued to rise for a third successive month (non-seasonally adjusted data) while landlord instructions slipped further. On the back of this, contributors are pencilling in rental growth of approximately 2% over the coming twelve months. At the five year horizon, the imbalance between supply and demand is expected to lead to an acceleration in rental growth, which is seen averaging around 3%, per annum, through to 2024.” In Q4 2018 the mean average time it took for a private landlord to make a claim to the courts for a property to be repossessed as it actually happening was 22.8 weeks. See table 6a at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/778386/Mortgage_and_Landlord_Possession_Statistics_Oct-Dec_18_Annex.pdf. Manchester Metropolitan University’s report, Homelessness and the Private Rented Sector, can be accessed at: https://research.rla.org.uk/wp-content/uploads/MMU-Homelessness-and-the-private-rented-sector.pdf. Page 28 notes: “our research raises questions around whether S.21 terminations can be described as ‘no fault’ evictions.” The English Housing Survey Headline Report for 2017-18 can be accessed at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/774820/2017-18_EHS_Headline_Report.pdf. Page 18 notes that in 2017/18, private sector tenants had been living in their current properties for 4.1 years. The English Housing Survey 2016-017 report for the private rented sector found that 10.1% of tenants left a private rented property over the previous three years because their landlord asked them to leave/gave notice. See annex able 3.3 at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/723885/Private_Rented_Sector_Chapter_3_Figures_and_Annex_tables.xlsx ABOUT LETTINGFOCUS Services for Private Landlords We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk. Our advice is completely independent. We take don’t commission payments or fees from anyone, ever. Services to Businesses and the Public Sector We advise a range of organisations too to help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media. HOME PAGE OF THIS BLOG: Blog THE HOME PAGE OF THE MAIN SITE: http://www.LettingFocus.com For general information on our CONSULTING SERVICES: Consultancy and Seminars For ONE TO ONE PRIVATE CONSULTANCY FOR PRIVATE LANDLORDS: Property Advice CLIENT TESTIMONIALS – from both organisations and private landlords: Testimonials IN THE MEDIA: Recent Press Coverage BOOKS: “SUCCESSFUL PROPERTY LETTING”: Our book is the highest selling personal finance and property book in the UK. Click here to Find Out More and Buy it. And if you are from an organisation and would like to bulk buy, please ask us for special rates. “BUY TO LET LANDLORDS GUIDE TO FINDING GREAT TENANTS”: Also, get this great new guide here, which covers everything you’ll ever need to know to avoid either you or your letting agent getting anyone other than the perfect tenant. Click Here to Buy It. BOOK FOR TENANTS: Kids going off and renting for the first time? My Book for Tenants is also Available TO JOIN OUR FREE NEWSLETTER MAILER which goes to over 3,990 people (as at Jan 2019) just send an email to [email protected] We do not send spam or sell our mailing list to advertisers, though we occasionally mail landlords about good products from third parties. Please put us on your “white list” to ensure you receive our emails. OFFERS ON PRODUCTS FOR LANDLORDS and TO ADVERTISE YOUR PRODUCTS to LANDLORDS: Landlords Resources PERUSE LAST TEN BLOGS BY GETTING THE RSS FEED: Click Here NEXT ANNUAL SEMINAR EVENT FOR LANDLORDS: Landlord and Property Letting Seminar TWITTER PAGE My thoughts on property, personal finance, plus a lot of other random things: Twitter Copyright of Blog: David Lawrenson 2019. Please link to us here or quote us. We actively pursue copyright infringements.The post Section 21 No Fault Notices and Evictions to be Banned appeared first on Letting Focus.

https://www.lettingfocus.com/blogs/2019/04/section-21-no-fault-notices-and-evictions-to-be-banned/

#General #No Fault Eviction #Section 21 Notice #No fault evictions #No Fault Possession

Should You Remortgage Your House?

Once you’re on the housing ladder, you may feel as though you are trapped in your situation. Getting a foot on the ladder is extremely useful, and owning property can open doors and provide a base to build a family or integrate into an area. However, where you live in the UK may determine how soon you might be able to join your fellow homeowners.Indeed, the Office of National Statistics suggests that house prices in England and Wales ranged from £25,000 in areas of Sunderland to £5.9 million in areas of Barnet. But what happens if you are on the housing ladder and want to make some changes? Is it time to look into taking out a remortgage on your house? Remortgage to Save MoneyA remortgage involves taking a new mortgage out on a property you already own. This can replace your current mortgage to renegotiate costs or to borrow money against it to fund a new business or costly home improvements. Experts estimate that around a third of all mortgages in the UK are actually remortgages. One of the primary reasons for switching mortgages is to save money. This can occur after your previous fixed-rate mortgage ends. Most good deals expire after a few years, and then you are placed on the standard variable rate, which is higher. Even if you are tied into a mortgage rate, but spot a better offer, sometimes it can be worth remortgaging to take advantage of this deal. The benefits of doing this vary on a case by case basis, so check with a remortgage calculator offered by sites such as Trussle to see how much you can save based on your property and circumstances. Remortgage for Other CircumstancesAnother reason to investigate whether you should remortgage your house is if you suspect your property’s value has increased since the initial mortgage was set. If your home improvements or the growth of your local area have increased your property value, you may find that you are on a lower loan-to-value band, which could bring down the rate you pay. So, taking out a new mortgage would be sensible.Another common reason for taking out a remortgage is down to the fact that mortgage lengths are so long that circumstances in life change during the tenure. You may earn more money or have been bequeathed an inheritance since the initial mortgage and wish to repay more. But, some terms won’t allow for this, or will only let you make a minor overpayment. So, switching to a mortgage that suits your lifestyle may end up being beneficial in the long run. Even if you want a more flexible mortgage where you can occasionally bypass a payment, say if you have a job that pays more sporadically, a remortgage could be the solution.Deciding to take another remortgage on your house is no small matter, and due diligence should be done. By weighing up the pros and cons of taking out a remortgage in conjunction with the banks who may offer the best deals, you should come to a consensus that reflects what is best for you.The post Should You Remortgage Your House? appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/should-you-remortgage-your-house/

#Money #Finance #Investment #property

who is responsible for fixing my fence or wall

Who is Responsible for Fixing a Fence or Wall – Me or My Neighbour? The issue of who owns a fence or a wall in a garden, and whether you or your neighbour should be responsible to fix it when it blows down or needs repair, can be a tricky one says David Lawrenson of www.LettingFocus.com. And these boundary issues can lead to fallings out with neighbours. When it gets really windy for a few days or weeks, most people just shrug their shoulders and put their face into the wind. But for landlords like me, I know that, sure enough, I can expect a call about a fence that has blown down on at least one of my properties somewhere. I have one property I let out on the coast in Kent – and I know from experience that is it in an area that has much stronger wind gusts than we have in London. And so, it is always proving to be the property that is most vulnerable to gales. Next door to my place there, is a neighbour who is an old retired chap, who lives with his wife. They are both in their 80s – and as he always reminds me, “are dependent on a pension.” Who is Responsible for Fixing a Fence or Wall – What Does the Sellers Questionnaire Say? My tenant is a real sweetie who has been my tenant for 15 years. She just about “gets on” with this neighbour. The neighbour’s view is that it is for “Muggins the Landlord” – i.e. Me, who has responsibility to repair the fence. He says that the person who used to own my property always did the fence on our side – and repaired it. Unfortunately, I have no way of validating this assertion because it was a probate sale back in 2006 – and with the owner being deceased, there was no one available to fill out a Sellers Questionnaire. But even if the person who sold to me had said that they were indeed responsible, would that matter anyway? Actually, maybe, but possibly not. Because to find out whether you or your neighbour is responsible for repairing or replacing a wall or fence along the boundary between you, one first needs to check your own title documents, (title plan and title register) – as there may a statement in there, though it is very common for there not to be. You can download these for £3 from the Land Registry. If your own title documents are not clear, the next action is to check your neighbours title plan and register. Who is Responsible for Fixing a Fence or Wall – Check The Title Plan and Regsiter and What it says about Boundaries For more modern housing, especially those on modern housing estates, it is increasingly likely that the title plan attached to the first transfer of a newly built house will show internal “T” marks inside the boundaries belonging to the property. If the “T” marks are external it will indicate the boundary is the relevant neighbour’s responsibility to repair, if internal, it is your duty. “H” marks (effectively “T” marks on each side) will indicate that the boundary is shared. So far so clear, but as this involves legal stuff, you’d just kind of know that there has to be more grey areas that this. (If all was crystal clear lawyers would have no way of making money!). So, it might be that an original fence has blown down and been replaced by a neighbour who was not originally responsible for it. By doing this, they have become the owner of the new fence, so it is their responsibility to repair it – though, in the absence of a legal obligation and clear proof of past intent, they cannot actually be forced to do so. Who is Responsible for Fixing a Fence or Wall – Has Anything been Agreed in Writing? So, again it’s back to the title documents. In the same way, neighbouring owners may agree to share the cost of replacing a fence that was previously the responsibility of one of them alone. So figuring out what they actually agreed in writing in the past, goes a long way towards what responsibilities they also took on for the future maintenance of the fence or wall. (In the rare case where animals are involved, it is the animal-owner’s responsibility to fence their livestock in – though this does not automatically prove the relevant fence is theirs, but it raises an enhanced possibility that it is). Some people think that a person will have erected a fence, and therefore own it, if the posts and rails are on their side – with the “neat” side facing their neighbour owner’s side. However, it is at least as likely that the owners of the fence will want to benefit from looking at the “neat” side. This also has the logic that an owner would erect the upright posts on his side of the boundary, and nail the boards to the horizontal rails from his side – so in this case, the neat side will face the owner of the fence. So, no clarity there! Similarly, there is no truth in the myth that the boundary wall or fence on the left (or right) of a property “always” belongs to that property. So what happens if you cannot identify whose responsibility it is from past actions and if the title documents are silent on this (as they will usually be for houses built pre the 1970s, like mine in Kent)? Who is Responsible for Fixing a Fence or Wall – If the Title Register and Plan are Silent, then it’s Shared Well, in that case the legal presumptions is that, in the absence of ‘T’ marks or words confirming the position in the title documents, a wall or fence is presumed to be jointly owned and its maintenance a joint responsibility. In the special case where a fence or hedge is next to a ditch, the legal presumption is that the landowner, before erecting the fence or planting the hedge, would dig the ditch at the boundary, with the hedge or fence put on the mound that has been created by the dirt from the ditch, in which case both the ditch and the hedge would belong to that owner. In my case, when all else failed, after speaking to my neighbour, I decided to pay this time, but with my verbal parting shot being that “If the lady on the other side of me also thinks it is for me to pay for that fence too, that would change things here for us.” So, on the basis that “good fences make good neighbours”, I sent a cheque for £100 to the neighbour to pay to his man to fix the fence. I did not admit liability or even say what the money was for, in writing – I just stuck a cheque in the post. No message, just the cheque. This way, I protect myself from future liability but save from falling out with a neighbour over such a small amount. ABOUT LETTINGFOCUS Services for Private Landlords We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk. Our advice is completely independent. We take don’t commission payments or fees from anyone, ever. Services to Businesses and the Public Sector We advise a range of organisations too to help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media. HOME PAGE OF THIS BLOG: Blog THE HOME PAGE OF THE MAIN SITE: http://www.LettingFocus.com For general information on our CONSULTING SERVICES: Consultancy and Seminars For ONE TO ONE PRIVATE CONSULTANCY FOR PRIVATE LANDLORDS: Property Advice CLIENT TESTIMONIALS – from both organisations and private landlords: Testimonials IN THE MEDIA: Recent Press Coverage BOOKS: “SUCCESSFUL PROPERTY LETTING”: Our book is the highest selling personal finance and property book in the UK. Click here to Find Out More and Buy it. And if you are from an organisation and would like to bulk buy, please ask us for special rates. “BUY TO LET LANDLORDS GUIDE TO FINDING GREAT TENANTS”: Also, get this great new guide here, which covers everything you’ll ever need to know to avoid either you or your letting agent getting anyone other than the perfect tenant. Click Here to Buy It. BOOK FOR TENANTS: Kids going off and renting for the first time? My Book for Tenants is also Available TO JOIN OUR FREE NEWSLETTER MAILER which goes to over 3,990 people (as at Jan 2019) just send an email to [email protected] We do not send spam or sell our mailing list to advertisers, though we occasionally mail landlords about good products from third parties. Please put us on your “white list” to ensure you receive our emails. OFFERS ON PRODUCTS FOR LANDLORDS and TO ADVERTISE YOUR PRODUCTS to LANDLORDS: Landlords Resources PERUSE LAST TEN BLOGS BY GETTING THE RSS FEED: Click Here NEXT ANNUAL SEMINAR EVENT FOR LANDLORDS: Landlord and Property Letting Seminar TWITTER PAGE My thoughts on property, personal finance, plus a lot of other random things: Twitter Copyright of Blog: David Lawrenson 2019. Please link to us here or quote us. We actively pursue copyright infringements.The post who is responsible for fixing my fence or wall appeared first on Letting Focus.

https://www.lettingfocus.com/blogs/2019/04/who-is-responsible-for-fixing-my-fence-or-wall/

#Boundary Disputes #General #Fences and Walls

Modern retirement living in historic Salisbury

The cultural gem of southwest England is becoming known for something other than its strong English history, Salisbury is a unique city set in rolling hills that have inspired fine works of art since the 18th century. It is now the site for the new standard in retirement living.In an effort to disrupt the traditional look of retirement communities, Platinum Skies is preserving history while providing much needed stylish, contemporary living for over 55s. The retirement village Chapters is a collection of apartments, cottages, and larger houses for retirees looking to get away from downsizing to the cookie-cutter style of retirement blocks and rightsize into living in a real community.Chapters leaves behind the cramped urban lifestyle and the isolated feeling of rural living and establishes a new standard for retirement living by creating a likeminded community in a location that does not sacrifice easy access to the historic high street or the rolling Wiltshire countryside.Located in the grounds of the historic 19th century Finch House, Chapters is in the heart of the city, just a short walk to Salisbury’s fashionable high street – everything the Old Town has to offer is right at arms’ reach.Platinum Skies Chairman David Hines comments: “There is a gap in what retirement living offers. Older people do not want to spend their time in a stale retirement block or in a solitary village; they want to feel part of something. Community living is at the heart of Chapters – we have aimed to create a place that can truly be called a home. “Building a community so near the high street means that our residents can lead independent lives with the conveniences of a bustling city, without sacrificing where they have to live. The flexible ownerships schemes from Platinum Skies can make what seems like a lofty dream, a reality. “Salisbury is a thriving area steeped in history; Chapters is bringing fresh life into a segment of the city with a vibrant village far from lacking in entertainment.” A Lifestyle Manager is on hand to organise regular social gatherings and events. There is always something on for neighbours and friends to enjoy together, whether it is a fitness class, book club meeting, or gathering to watch the big match at the weekend. Take a breath of fresh air with Sunday strolls around the courtyard gardens and grow green fingers in the greenhouse and potting sheds. The on-site bistro will serve delicious meals throughout the day and the private lounge is ideal for meeting friends for coffee or an after-dinner drink.At Chapters, prices start from £112,500 for a 50% share of a one bedroom home (FMV – £225,000).For more details call 01202 805 513, email [email protected] or browse the website www.platinumskies.co.uk.The post Modern retirement living in historic Salisbury appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/modern-retirement-living-salisbury/

#Property News #Investment #property

Stamp Duty land tax for overseas buyers

It is high time that overseas buyers paid more Stamp Duty Land Tax (SDLT) and Council Tax when they buy and own UK property says David Lawrenson of www.LettingFocus.com. The additional rate for SDLT should be at least 3 per cent, the same as UK landlords and second home buyers already pay. These extra taxes would likely have little impact on demand from overseas buyers, thus the revenue raised would be very high – and could be used to tackle homelessness and rough sleeping. OK, here’s an interesting thing. I am just in the process of buying my first buy to let property since the government decreed that us nasty buy to let landlords would be clobbered with an extra 3 per cent SDLT on top of what ordinary mortals have to pay. That’s all fine and dandy – and yes I know it is easier to clobber small landlords for the cash, because just like small businesses it is easier to hit the small guy for big increases in rates (in the case of your dying high street) and taxes (for the rest of us), than to properly tax the likes of big international internet businessess, which falls into the “too hard to do” category. So, yes, I get the big picture. But what really made me laugh was the government form that the solicitor sent me to fill in, in which, in order to be exempt from the extra 3 per cent clobber, I would have had to declare that “I did not own a property in the UK or anywhere else in the world“. The bit about “anywhere else in the world” amused me. I can just imagine the overseas buyers of UK property who are based in China, India, the Middle East or wherever, dutifully telling HMRC that “Yes, of course, I already own a place in Bejing, Bombay or Bahrain, so please tax me an extra 3 per cent, Mr Taxman”. Yeah, right, I’m sure they will all do that! Consultation on Stamp Duty Land Tax for Overseas Buyers The government is presently consulting on making overseas buyers pay another 1 per cent SDLT on top of the normal SDLT rate, with the money being used to help the problems of homelessness and rough sleeping on the UK’s streets. Why not 3 per cent?, you might ask – which would make a level playing field with UK based buy to let and second home buyers. Why not indeed? Well, it is thoughtful of the government to at least be consulting on this, I guess. But you wonder why this was not considered before. Most other countries have for years imposed additional taxes on foreign nationals buying and owning property in their countries. So why not the UK? It would be a huge revenue earner and would make the UK only very marginally less attractive for the more shady foreign investor using the UK to launder their ill gotten gains. And the money would be big. To show how big, one only has to consider the Hamptons International Buyer and Seller Survey which shows that 57 per cent of homes bought in prime central London (PCL) in the second half of 2018 were purchased by an “international buyer” – i.e. someone based abroad. This is actually the highest level since the second half of 2012, which shows that despite all the worries and hand wringing, Brexit is certainly not putting off the foreign buyer of UK homes. Interestingly, 20 per cent of the international purchasers were based in EU states, which is a big increase on the second half of 2017, when they formed only 10 per cent of foreign buyers. But it’s not just in prime areas where international buyers are to be found. Taking Greater London as a whole in the last half year of 2018, the proportion of homes bought by international buyers was 36 per cent, up from 21 per cent in the second half of 2015, which was, of course, before the referendum on whether the UK should leave the EU. In Greater London too, the same pattern of increased numbers of EU buyers was evident – rising from 8 per cent in H2 2015 to 14 per cent of international buyers now. No doubt the fall of Sterling, post-Brexit, which makes property here cheaper to buyers abroad, has something to do with the increase in international buyers. But the fact remains, that for too long foreign buyers have had it too easy here in the UK – and this situation seems very unfair, especially now that home based second home buyers and buy to let investors get hit with a 3 per cent additional charge. The consultation on the additional international buyers levy ends on 6th May. You should take the time to reply to it – and if you do so, you should suggest that the levy ought to be 3 per cent to ensure a level playing field with home- based buyers. And at the same time, suggest international buyers pay an extra duty on actually owning a property – this could be added to Council Tax, which is a teeny tax compared to similar local taxes elsewhere in the developed world. To show just how teeny UK Council Tax is compared to what one would pay towards local services in Singapore, Shanghai or St Petersburg, you should know that one of the most frequent questions from international buyers to the likes of Hamptons, Savill’s and other up market estate agents and buyers agents is about the local council tax. Foreign buyers regularly call their agents up to query if they should not be paying a whole lot more – and whether they have they missed something! So, the conclusion is that foreign buyers of UK property could easily pay a lot more tax when they buy and hold UK property , without them really noticing it and without it having any impact at all on the volume of housing transactions or the Tory’s cherished house prices. If Theresa May and her conservative government is serious about helping the “ordinary people” and at the same time doing something for the homeless, this is one place she could start. ABOUT LETTINGFOCUS Services for Private Landlords We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk. Our advice is completely independent. We take don’t commission payments or fees from anyone, ever. Services to Businesses and the Public Sector We advise a range of organisations too to help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media. HOME PAGE OF THIS BLOG: Blog THE HOME PAGE OF THE MAIN SITE: http://www.LettingFocus.com For general information on our CONSULTING SERVICES: Consultancy and Seminars For ONE TO ONE PRIVATE CONSULTANCY FOR PRIVATE LANDLORDS: Property Advice CLIENT TESTIMONIALS – from both organisations and private landlords: Testimonials IN THE MEDIA: Recent Press Coverage BOOKS: “SUCCESSFUL PROPERTY LETTING”: Our book is the highest selling personal finance and property book in the UK. Click here to Find Out More and Buy it. And if you are from an organisation and would like to bulk buy, please ask us for special rates. “BUY TO LET LANDLORDS GUIDE TO FINDING GREAT TENANTS”: Also, get this great new guide here, which covers everything you’ll ever need to know to avoid either you or your letting agent getting anyone other than the perfect tenant. Click Here to Buy It. BOOK FOR TENANTS: Kids going off and renting for the first time? My Book for Tenants is also Available TO JOIN OUR FREE NEWSLETTER MAILER which goes to over 3,990 people (as at Jan 2019) just send an email to [email protected] We do not send spam or sell our mailing list to advertisers, though we occasionally mail landlords about good products from third parties. Please put us on your “white list” to ensure you receive our emails. OFFERS ON PRODUCTS FOR LANDLORDS and TO ADVERTISE YOUR PRODUCTS to LANDLORDS: Landlords Resources PERUSE LAST TEN BLOGS BY GETTING THE RSS FEED: Click Here NEXT ANNUAL SEMINAR EVENT FOR LANDLORDS: Landlord and Property Letting Seminar TWITTER PAGE My thoughts on property, personal finance, plus a lot of other random things: Twitter Copyright of Blog: David Lawrenson 2019. Please link to us here or quote us. We actively pursue copyright infringements.The post Stamp Duty land tax for overseas buyers appeared first on Letting Focus.

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#General

8 Pro packing tips for moving house

Are you in the process of planning a move? If so, you may have been warned about the challenge of packing up a home which can be presented as an overwhelming task for many households. As you start the process of packing, chances are that you find items that you’ve never seen before or completely forgot you had.A strategic and well-thought-out plan of action can transform a typically chaotic task into a successful one. Here are eight pro packing tips to help make the process smooth and efficient. Pack up room by roomPacking up one room at a time is more manageable than attempting the entire home at once. Packing up room by room will also make unpacking a lot easier as items will be kept together and moved into a new room as a unit. Declutter: get rid of unnecessary itemsAs you pack up little by little, use the opportunity to think about your belongings through a process of elimination. Items that are no longer used or required can either be sold, donated or stored off site. With each item that you pick up, you should ask yourself how often you use it, if you really need it and if your new lifestyle has space for it. Label your boxesLabelling boxes is a great organisational tool used to distinguish where each box belongs and what it contains. Each room/area of your previous home can be assigned and labelled a different colour tape. Colour-coding is most definitely a timesaving process and will make sorting the boxes easier upon arrival at your new house. Further labeling your boxes on each side, based on the content inside, will also help you find what you need quickly. Another way to do this is to draft an inventory list and assign each box a number. Manage the weight of each boxA big mistake that many people make is putting too many items in a single box, resulting in the box being too heavy to move. Keep in mind that someone needs to lift and move the box and this cannot be done if the box is too heavy. Designate boxes for first day essentialsIt is always a good idea to pack a box of essentials that you’ll need immediately upon arrival at your new home. You can either personally transport this box or it pack it as the last box on the removal truck, meaning that it is the first box you see when you open the doors. This box should include items such as toiletries, plates, eating utensils and perhaps some food. If moving with your family, make sure that each family member has a box. Don’t take shortcuts when packing fragile itemsMake the effort to pack your fragile items with extra precaution. All plates, bowls and glasses need to be wrapped individually. It is not only breakable items that are fragile, but also valuable items. Use towels or linen to wrap TVs, fridges, microwaves and other appliances to avoid any scratching. Use clothes, towels and linen for paddingRather than purchasing non-reusable padding materials to protect your fragile items, why not make use of clothes and linen to wrap those belongings that need to be protected during the move. Utilise a self storage unitWhen moving, it is very normal to be surprised about how much stuff you’ve accumulated over the years. Even if going through the decluttering process, you may find that your new home might not have enough space for all of your belongings. Perhaps you have seasonal items that need to be safely stored off-site. A self storage unit is the perfect solution to the lack of space or transitional period of moving home as it acts as an extension of your home. The ease of accessibility combined with top-class security and flexible lease agreements mean that you can move home with less stress and more space.These are just a few tips and hints for packing like a pro during your move. Take a deep breathe and enjoy the process! Sandra Morris writes for leading UK self storage company Storage King, offering insight and tips into home improvement and how best to leverage property value, specifically for first-time buyers. A writer by day and a reader by night, Sandra is passionate about sharing her property and self storage knowledge to making a positive contribution to people’s homes and their investment returns.The post 8 Pro packing tips for moving house appeared first on Addicted to Property.

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#Property News #property #Selling #Storage

How to Get your House Ready to Sell

If you’re looking to sell your home then there are a few things you need to bear in mind. It is important to realise that everyone who comes to view your property doesn’t have the same emotional attachment to it as you do. The notches on the door frame where you’ve lovingly measured your children’s growth spurts will probably just look like extra work for a potential buyer. You might love a wild and natural garden, whereas a potential buyer might prefer a more stripped-back, minimal look that they won’t have to spend too much time on. If you want to sell your house, you need to put yourself in the shoes of a viewer.Here are some helpful tips to get you started:De-clutterOver time, you accrue lots of things that can get shoved away in a cupboard, basement or shed. Now is the time to consider clearing out the things you no longer need, things that are broken or that you need to be less sentimental about. A house that has less clutter will not only be far more appealing to potential buyers, but it will make your onward move so much smoother. Chip away at things while you have the time and you’ll soon notice a difference once the viewings start racking up. You may even make some money if you post items on local classifieds auction websites.Neutralise & De-personaliseYou don’t have to be a DIY-expert to make changes to your property. Simple changes can have a big impact. Give the place a lick of paint in neutral colours to take as much personalisation out of the property as possible. Not all viewers have the ability to imagine a property as a blank canvas. By toning down your décor and tidying away anything that makes it too ‘yours’ you’ll hopefully enable them to visualise living there.Check that grouting in the bathroom and kitchen is clean and re-grout where necessary. You don’t have to invest in a new kitchen or bathroom suite, but you could always replace or fix cupboard doors or handles just to give a better overall look that shows off the property’s potential. Getting carpets cleaned, either using a professional company or hiring the tools to do it yourself, will refresh your home, especially if you have pets. Removing smells and breathing life back into your carpets will appeal to viewers. Finally, make sure that all lightbulbs are working and replace any that have blown.Get Green FingeredMake sure that your garden is neat. No one wants to see a garden or yard that looks like a dumping ground so take some time to get rid of bits and pieces that have been tossed aside for another day. If you have a pressure washer then give your paving stones the once over. You don’t need to plant pretty flowers or invest much money in the garden, but doing the basics will make a huge difference. Things like fixing or replacing broken fence panels, mowing the lawn and removing weeds from the driveway or pathway up to the house, will give any viewers a good first impression.Light & AiryTo show your house off in the best possible way, you need to make it feel light and airy. This is easier in the spring and summer when you have lighter evenings and people can experience this directly. Clean your windows and throw them open to let fresh air into the property. Aerating your house will help to entice potential buyers. Bad smells, particularly pet or cooking odours, are really off-putting for viewers.This is more difficult in the winter months. Then you’re best adding some cosy lighting and using lightly scented candles to make your house extra inviting. Don’t be stingy on your heating for viewings in the colder months either. Pop your heating on an hour or so before the viewers arrive so that they’ll instantly feel welcome and warm. You’ll be surprised at how effective this can be.View RightPick the right agent to support you with viewings. It’s often better if the agent undertakes the viewings for you because a potential buyer will feel less pressurised and will ask the questions they really want to know the answer to. A good agent will build a rapport with a buyer and be informed enough about your property so that they highlight the best bits and downplay anything slightly negative.This is not an exhaustive list, but should get you on the right track to sell your property quickly. If the open market isn’t working out for you then The Property Buying Company can help. They buy any house, in any location and in any condition for a fair cash sum. Get in touch today to find out more.The post How to Get your House Ready to Sell appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/get-your-house-ready-to-sell/

#Home Improvements #Decorating #Interior Design #property

Thousands Expected at London’s Largest First Time Buyer Event

Thousands of budding buyers are expected to attend the twelfth London Home Show on Saturday 23rd March, as London’s largest event for first time buyers returns to the capital for the sixth year running. Held at the Queen Elizabeth II Centre in Westminster from 11AM to 5PM, the event offers prospective buyers the unparalleled opportunity to explore the home ownership options available to them, meeting London’s largest housing providers face-to-face.With 53 exhibitors all under one roof, the free exhibition will showcase the best affordable homes – including Shared Ownership and Help to Buy properties – available across London and the home counties. Hosted by Share to Buy, the UK’s leading online portal for Shared Ownership properties, the bi-annual event is held each March and September and has welcomed over 45,000 visitors since its launch in 2013.Nick Lieb, Head of Operations for Share to Buy, comments: “Buying your first home, whether on the open market or through an alternative home ownership scheme, can feel very confusing. While there are useful resources online, we know that nothing quite beats meeting and talking to industry experts who can guide you through the process. Designed to help first time buyers navigate the seemingly complex world of Shared Ownership and Help to Buy, the London Home Show allows hopeful buyers to easily compare all of the available options – deciding which scheme and provider is right for them. In 2018, over 8,000 first time buyers attended the two London Home Shows, and we are expecting another buzzing show next month.”Partnering with London’s leading housing providers, sponsors of the event include The L&Q Group, Clarion Housing, Notting Hill Genesis, Southern Home Ownership, So Resi, Peabody, Red Loft, Crest Nicholson, and Countryside Properties, as well as new exhibitors including JLL, Redrow and Origin Housing. Each exhibitor will have their own stand, making it easy for hopeful buyers to speak to sales teams and get their questions answered.Throughout the day, there will also be live Q&A sessions – some chaired by Lynda Clark, editor of First Time Buyer Magazine, where industry experts will answer questions from the audience – covering everything from perfecting your credit score to understanding eligibility criteria. Independent mortgage advisors and conveyancing solicitors will also be on hand to offer financial and legal advice to anyone looking to buy their own home.To register for a free ticket to the London Home Show, visit www.sharetobuy.com/homeshowThe post Thousands Expected at London’s Largest First Time Buyer Event appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/first-time-buyer-event/

#Property News #First Time Buyer #property #property news

How to Improve the Look of Your Garden This Spring

As winter time is slowly but surely coming to an end, it is time to estimate the damage to our garden. The ground might have frozen overnight a few times but that does not mean that beautiful flowers will not blossom again this spring. However, you need to give your best to restore your garden’s former glory by assuming a proactive role as early as of March. The sooner you start, the sooner will your garden become an oasis of plant life once more. A major clean-upFirst thing’s first. Before all, you need to make sure that the garden is clear. Yes, the show long ago melted away and although it cleaned the garden to some extent, it actually left a lot of debris on the found. You are going to need a rake a plastic bag to collect all this debris and to polish all the surfaces near the house, like the garden shed and the window sill. Tidying the patioSince most of the surface of your garden is made out of dirt, the patio area that is usually paved needs to be cleaned differently. First you sweep it and then you apply a cleaning solution, just like you would do with kitchen floors. Also, be sure to check if the caulk between the tiles is in good order and fill in any holes that the hard winter had left. Introducing candles at nightInstead of expensive outdoor lamp posts that require holes to be dug up all around the garden, you can simply hang candles from metal and glass holders. The air temperature is only going to get warmer, so it will soon be possible to spend the nights outside. There is hardly any romance in electric light, so candles are excellent atmosphere makers. The edges of pathsYou are likely to have at the very least one paths winding through your garden. Regardless of its material, whether it is concrete or cobblestone, its edges must have become worn out during the last cold spell. This means that you have to engage in some masonry to lay bricks that will form a new edge of the path. These bricks can have a layer of waterproof concrete to help them last longer and protect the path from wearing itself away. A green wallIf your garden has a lot of wall surfaces, then you need to restore them to their previous state. One way to go is simply painting them, but this will only cover the problem, literally. A much better and environmentally friendly solution this spring is to create a green wall. It would consist of climbers and vines of different colors that will ensure privacy and a neat backdrop for your garden. The wall of the house can be adorned with plants as well, as hanging plants are a great solution that will make your house appear greener. Adding a water featureIf you have a tap in the garden and a drain, then you got yourself a river! Well, not a real river, but rather a stream that could spring from a stone fountain that can be purchased ready-made from any DIY store. By creating a water feature of this sort, you will truly change the appearance of the whole garden this spring. Visitors to the garden will not be able to recognize it and they will immediately fall in love with the sound of running water. Repairing the lawnLike all ground level surfaces, the lawn has probably taken a beating and now it is all brownish and yellowish. There is no need to worry, as its luscious color green can be restored. You will need to buy some turf at a garden center and carefully place it inside a shallow hole that you have previously dug out. As the weather gets better and with plenty of watering, the lawn will soon start to come alive again. Throw in a new benchApart from the garden set that is probably located in the patio area, your garden could benefit from a new bench. Alternatives are always welcome and seating is no different. It is always good to have two places from which you can enjoy the view, so take care of the position of the new bench. It should ideally face south to get the most sunshine.Also, if you want to enjoy your garden and to protect yourself from those strong sunrays, the smartest thing to do is to create the charming retractable roof system in it. A splash of paintPainting the entire house would be far too costly but you could paint a limited number of surfaces inside the garden. For instance, the shed could use a new layer of a bright color that will make it stand out from the greenery. Blue is just our suggestion, as you can choose any hue you like. The fence can also benefit from a new shade and individual pickets could be painted differently to add to the colorfulness of the whole space. The list of additional things you could introduce inside your garden this spring is far too long for this text. However, once you apply these 9 simple fixes, you will discover many more to add to your garden space each new spring.The post How to Improve the Look of Your Garden This Spring appeared first on Addicted to Property.

https://addictedtoproperty.co.uk/improve-look-garden-this-spring/

#Home Improvements #Garden #property

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