Posts with tag: letting agents

Keynote Speakers Announced for the ARLA 2017 Conference

Published On: December 30, 2016 at 10:05 am

Author:

Categories: Landlord News

Tags: ,,,

The keynote speakers have been announced for the ARLA 2017 conference, which will be held on Tuesday 28th March 2017.

Keynote Speakers Announced for the ARLA 2017 Conference

Keynote Speakers Announced for the ARLA 2017 Conference

The Association of Residential Letting Agents has secured former foreign secretary and leader of the opposition Lord William Hague, as well as national broadcaster and ITV political editor Robert Peston as its keynote speakers.

The speakers will assess the impact of moving towards Brexit and the triggering of Article 50 at the ARLA 2017 conference, as well as the forthcoming ban on letting agent fees for tenants. The leader of the campaign to ban agents charging fees to tenants, Vicky Spratt, will take part in a debate on the issue.

The ARLA 2017 conference, which will take place at the world-famous ExCel London, is the largest and most attended event in the private rental sector.

For attendees, it is a great opportunity to get up to date with important industry news, keep abreast of changing legislation and network with peers from across the sector.

Early bird tickets are now on sale for those wishing to secure their place at the event. The full agenda is available here: www.arlaconference.co.uk

The President of ARLA, Nik Madan, says: “We’re really looking forward to welcoming everyone at next year’s event. We expect to see a lot of key industry figures and are pleased to have secured such fantastic speakers.

“The conference will be packed with vital information and updates, and is a great opportunity for visitors and delegates to seek out new innovations, products and services for their businesses. This is our second year at ExCel and, last year, the conference attracted in excess of 900 delegates – a record number. This year, we expect to top that record and host the biggest and best ARLA conference to date.”

Remember that Landlord News continues to keep you updated on the latest industry advice and information. Sign up for our handy monthly newsletter here: /register/

New banning orders for rogue landlords in UK revealed

Published On: December 15, 2016 at 10:35 am

Author:

Categories: Landlord News

Tags: ,,,

The Government has introduced a public consultation as part of more measures to crack down on rogue landlords and letting agents.

These proposals to find and remove rogues from the sector have been sent out in an official consultation document, with feedback requested by the 10th February 2017.

Offences

According to the document, the orders would be put into place when rogue landlords commit more serious offences against their tenants. These measures include failing to carry out necessary work required to prevent a health and safety risk, threatening violence or illegally evicting tenants.

The proposals state that if a landlord or property agent is subjected to a banning order, they could be stopped from letting or managing a property for an indefinite period. In addition, their name would be on a national database of rogue landlords and agents.

Housing Minister Gavin Barwell noted: ‘Banning orders will allow us to drive out the worst offenders and help make sure millions of hard-working private tenants across the country are protected from exploitation. While the vast majority of landlords are responsible we are determined to tackle the minority who abuse and exploit vulnerable people.’[1]

‘As part of the Government commitment to improving standards within the private rented sector, banning orders will protect tenants and target the small minority of poor landlords and property agents. They will also help local authorities to take robust and effective action against rogues who knowingly rent out unsafe and substandard accommodation,’ he added.[1]

New banning orders for rogue landlords in UK revealed

New banning orders for rogue landlords in UK revealed

Improvements

Under these plans, the banning orders will drive the most serious and prolific offenders to majorly improve the standard of their accommodation that they rent out, or leave the sector altogether. These bans would last for at least one year, with no maximums.

Those subjected to banning order will not be able to earn income from either renting out housing, or by engaging in letting agency or property management work.

These banning order are part of a larger range of measures brought in in the Housing and Planning Act 2016, in order to tackle rogues. This includes a database of rogue landlords and property agents, who have been convicted of offences or have received two or more civil penalties.

[1] http://www.propertywire.com/news/europe/details-planned-new-banning-orders-rogue-landlords-uk-revealed/

 

Landlords and Agents Should Get Behind Fee Cap Plan, Insists AIIC

Published On: December 15, 2016 at 9:33 am

Author:

Categories: Landlord News

Tags: ,,,,,

Landlords and letting agents should get behind a proposed fee cap plan, insists the Association of Independent Inventory Clerks (AIIC).

Following the announcement in the Autumn Statement that letting agents in England will no longer be able to charge fees to tenants, the AIIC urges all landlords and agents to come together to campaign for a fee cap rather than an outright ban.

Many industry experts believe that banning fees will only push rents up, as agents will simply pass the additional costs onto landlords.

Landlords and Agents Should Get Behind Fee Cap Plan, Insists AIIC

Landlords and Agents Should Get Behind Fee Cap Plan, Insists AIIC

Research recently compiled by Spicerhaart predicts that tenants paying a monthly rent of £1,000 could end up being charged an additional £900 over the course of an average tenancy if landlords put rents up by just 3%.

The Fair Fees Forum has been created to bring landlords and letting agents together to campaign for a fee cap.

Lead by the National Approved Letting Scheme (NALS), the Fair Fees Forum is seeking to have an active role in the Government’s consultation on the lettings fee ban, as well as organising a meeting with the Housing Minister, Gavin Barwell.

The AIIC agrees that a fee cap would be a fairer way of limiting agents’ fees charged to tenants.

“We’re obviously extremely disappointed with the outcome of the recent Autumn Statement, especially at a time when the rental sector has come under such frequent attack from the Government,” says Patricia Barber, the Chair of the AIIC.

“However, now is not the time to feel sorry for ourselves and shy away; we must stand up, be counted and engage in constructive dialogue with the stakeholders that matter.”

Barber praises the work being conducted by the Fair Fees Forum, and is urging all landlords and letting agents to be as vocal and engaged as possible.

It is expected that a ban on fees will be introduced within the next 12-18 months, following a Government consultation period in the New Year.

Barber explains: “The next few weeks and months are set to be an extremely crucial period in the make up of this proposed ban.

“Rather than complaining about what we consider to be a gross injustice, it will be far more productive if the industry clubs together to explain possible solutions to this problem, the benefits of a cap and possible implications of a blanket ban.”

She adds: “Here at the AIIC, we find it hard to understand why tenants should be serviced with hours of letting agents’ time while benefitting from referencing and inventories – all for free.

“Hopefully, with the aid of some thoughtful lobbying by the property industry, the Government will think carefully about its next move regarding letting agents’ fees.”

Do you support the fee cap plan?

Almost Half of Landlords Would Stop Using Letting Agents if Profits Fell

Published On: December 14, 2016 at 9:35 am

Author:

Categories: Landlord News

Tags: ,,,,

Almost half of UK landlords would stop using their letting agents if their profits fell as a result of forthcoming tax changes, according to the UK Association of Letting Agents (UKALA).

The study was conducted to assess what impact the reduction in mortgage interest tax relief could have on letting agents when it is gradually introduced from April next year.

Almost Half of Landlords Would Stop Using Letting Agents if Profits Fell

Almost Half of Landlords Would Stop Using Letting Agents if Profits Fell

Almost Half of Landlords Would Stop Using Letting Agents if Profits Fell

The news arrives as yet another blow to agents across the country, following the recently announced ban on tenant fees, which is likely to increase charges for landlords so that agents can cover their costs.

Overall, 57% of landlords – around 1.1m – say they employ the services of a letting agent, with 36% being regular users and 21% occasional users.

Regionally, more landlords in Scotland would stop using their agent if their profits fell than anywhere else in the UK. Contrastingly, just one in three landlords in the West Midlands would ditch their agent – the lowest number in the UK.

The study also revealed that a quarter of landlords who use letting agents to exclusively manage all of their properties would forego their services in the face of declining profits. This drops to a fifth of landlords who use agents on a let-only basis.

A third of landlords would retain the services of their agent, even if their profits were compromised.

The Executive Director of the UKALA, Richard Price, says: “A significant number of landlords will be hit hard by the tax changes and agents’ fees will be one of the items underneath the magnifying glass if profits begin to decrease.

“As landlords’ costs inevitably rise, agents will need to do more to position themselves as indispensible, and make it obvious that they provide solid value for money. Otherwise, as future tenancies come to an end, landlords will either shop around or start to consider self-managing their properties.”

Richard Lambert, the Chief Executive of the NLA, also comments: “Landlords should already be looking ahead to the forthcoming tax changes and working out how they will be able to maintain profitability. That will intensify with the prospect of agents’ fees increasing as a result of the ban on charging tenants.

“However, while it may seem an appealing proposition to minimise your outgoings, the majority of landlords simply won’t have the resources to deliver a service that meets the standards of professionalism that their agent currently provides.”

Would you stop using a letting agents if your profits dropped?

One Million Landlords at Risk of Imprisonment Under Right to Rent Rules

Published On: December 7, 2016 at 9:31 am

Author:

Categories: Landlord News

Tags: ,,,

One million landlords are at risk of imprisonment and/or an unlimited fine under new Right to Rent rules.

One Million Landlords at Risk of Imprisonment Under Right to Rent Rules

One Million Landlords at Risk of Imprisonment Under Right to Rent Rules

Last week, on 1st December, failure to comply with the Right to Rent scheme became a criminal offence under the Immigration Act 2016. Although the scheme has been in place since February, it only carried civil penalties.

The latest study by Tenant Referencing UK shows that 50% of landlords are unaware of their legal obligations when it comes to checking the immigration status of prospective tenants.

Landlords or their letting agents are now committing a criminal offence if they have “reasonable cause to believe” an illegal migrant is renting the property that they are letting. It is also an offence for agents who have “reasonable cause to believe” that their landlord client is letting to a tenant who’s disqualified due to their immigration status and who go ahead with the management of the property.

Additionally, if a landlord or agent serves a section 8 notice that does not specifically refer to the Immigration Act 2016, it is considered invalid and the tenant will have a technical defence to possession proceedings.

Details of the new section 8 notice can be found here: https://www.justlandlords.co.uk/news/new-section-8-notice-today/

Over the last three months, Tenant Referencing UK conducted a poll of 1,000 new landlord members, finding out what they know about the Right to Rent rules. Worryingly, 50% of those asked were unaware of any such legislation, meaning that around one million landlords are at risk of imprisonment and/or an unlimited fine for failing to comply.

Thankfully, we have a helpful guide created in association with the Home Office that comprehensively explains landlords’ and agents’ obligations under Right to Rent rules: /home-office-reinforces-landlord-responsibilities-right-rent/

To avoid facing imprisonment or hefty fines, remember to stick to the law and check the immigration status of all prospective tenants.

Estate Agents the Fourth Least Trusted Profession

Published On: December 6, 2016 at 10:21 am

Author:

Categories: Property News

Tags: ,,,

Estate Agents the Fourth Least Trusted Profession

Estate Agents the Fourth Least Trusted Profession

Estate agents are still the fourth least trusted profession in the UK, according to a joint report from Mumsnet and Ipsos MORI.

The annual Veracity Index, which reveals which jobs and professions are most trusted by the public, found that just 30% of adults trust estate agents to tell the truth. Only journalists, Government ministers and politicians fared worse.

The 2016 report found that nurses are the most trusted professionals in the UK, with 93% saying they trust them to tell the truth, with doctors close behind, at 91%.

Public trust in politicians has slipped considerably, by six percentage points, since this time last year, and are now trusted to tell the truth by just 15% of Britons.

The Founder and CEO of online estate agent eMoov.co.uk, Russell Quirk, comments on the results: “It’s good to see a poll where estate agents aren’t quite dragging their knuckles in last place where trust and truthfulness are concerned. Coincidence perhaps that they should rise through the ranks a tad, just as the online sector starts to strengthen its grip on the property industry.

“Although, that said, the public will always treat any news source and politician with a certain degree of scepticism, so beating both journalists and politicians to the punch isn’t quite the gold star of approval it might seem.”

He adds: “Interesting that estate agents should still be viewed as almost half as truthful as lawyers and three times less credible than nurses. It’s clear that estate agency still has a way to go until the industry is perceived with such integrity as hairdressers.”

Landlords, do you trust estate agents when it comes to buying and selling properties? If not, are you more inclined to trust an online alternative?

As letting agent fees for tenants are in the process of being scrapped, landlords may find that using an online service is more cost effective.