Posts with tag: rental properties

Landlords Refusing Energy Efficiency Improvements

Published On: July 29, 2016 at 9:08 am

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A new report has found that 58% of tenants that have requested energy efficiency improvements from their landlords have been refused, while over half of renters say their home is cold and draughty.

Landlords Refusing Energy Efficiency Improvements

Landlords Refusing Energy Efficiency Improvements

The study, conducted by PropertyLetByUs.com – an online letting agent – also found that seven out of ten tenants have made requests to their landlord to make improvements to the property. A further 76% of renters claim their property has an old gas boiler that is unreliable and 48% do not have double-glazing.

From 1st April 2016, tenants have been able to request energy efficiency improvements, such as more insulation, and landlords cannot unreasonably refuse. However, it is a tenant’s responsibility to fund the works.

Additionally, from 1st April 2018, all rental properties must have an energy efficiency rating of E or above.

It is estimated that more than 10m British families live in a home with a leaking roof, damp walls or rotting windows. Damp, condensation and mould are all big problems in rental properties, as a result of older, single-glazed homes.

This guide to condensation control will help both landlords and tenants avoid costly and potentially unhealthy issues: /landlords-guide-condensation-control/

The Managing Director of PropertyLetByUs.com, Jane Morris, comments: “It is very disappointing to see that so many tenants have been refused when they have requested their landlords make improvements to the property. Landlords that are trying to rent cold, draughty and damp accommodation should immediately start improving their properties. Otherwise, they could be falling foul of the legislation that requires them to bring their properties up to an E rating.

“It is estimated that around 1m tenants are paying as much as £1,000 a year more for heating than the average annual bill of £1,265. These excessive costs are mainly down to poorly insulated homes, many of which are thought to be the oldest and leakiest rental properties in Europe.”

Morris adds: “Landlords that are currently renting out F and G-rated properties should be looking at the improvements they can make, and researching costs and available help, through the Energy Saving Advice Service (ESAS) or Home Energy Scotland.”

Landlords, remember that you must ensure your properties are safe, efficient and secure. It is also your duty to protect your tenants and make sure their home is comfortable.

RLA Encourages Members to Help Charities with Gone for Good

Published On: July 29, 2016 at 8:29 am

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The Residential Landlords Association (RLA) has announced its support for Gone for Good, a smartphone app that encourages businesses and individuals to donate unwanted products and goods to charities.

Last week, we revealed how Gone for Good can help landlords across the country get rid of clutter in their rental properties and support a good cause at the same time.

RLA Encourages Members to Help Charities with Gone for Good

RLA Encourages Members to Help Charities with Gone for Good

Following a successful pilot stage in Greater Manchester, Gone for Good rolled out across the UK earlier in the year. It aims to help charities raise the vital funds they need and stop unwanted items ending up in landfill.

The app matches those wanting to dispose of items in their properties with charities that are actively looking for certain goods and will collect them for free.

Gone for Good is especially useful for landlords, who often have to clear out goods left over by tenants or themselves have furniture or items that they are able to donate when they refurbish a property.

The firm aims to re-channel 6% of the saleable clothing and other items that currently end up in landfill. If it achieves this goal, charity shop income will double, meaning that good causes receive more support.

The app also enables users to give away their unwanted belongings to charity from the comfort of their own homes.

The CEO of the RLA, Andrew Goodacre, explains: “We are delighted to be supporting this innovative and important social enterprise.

“Gone for Good is quick and easy to use, and its values fit squarely with our own. We know that our members like to act responsibly in terms of disposing of unwanted items in their properties. The app helps them to do so, reducing waste whilst at the same time supporting charities and local communities as well.”

The Managing Director of Gone for Good, Mark Charnock, adds: “Gone for Good underpins the work that the RLA does in encouraging a well-managed and professional residential rental market. The app helps landlords manage their properties more easily and saves them money, whilst helping good causes. It’s a win-win for everybody concerned.

“We have had such a positive response to the Gone for Good app from businesses, the public and charities across the UK, and are delighted that the RLA and its members are able to support us.”

Download the app now from Google Play or the App Store and help out charities in your area!

Council Clamping Down on Landlords That Don’t Comply with Smoke Alarms Law

Published On: July 4, 2016 at 10:24 am

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Wakefield Council is clamping down on landlords that do not comply with the smoke alarms law.

Council Clamping Down on Landlords That Don't Comply with Smoke Alarms Law

Council Clamping Down on Landlords That Don’t Comply with Smoke Alarms Law

As of 1st October 2015, all private landlords in England must install smoke alarms on each floor of their rental property and test them at the start of each tenancy.

Landlords must also install carbon monoxide alarms in all rooms with a solid fuel burning appliance.

The new legislation enables councils to take action against landlords that have not fitted the required alarms, after Parliament approved the Smoke and Carbon Monoxide Alarm (England) Regulations 2015.

Penalties for not complying with the law include a fine of up to £5,000.

The Cabinet Member for Economic Growth and Skills at Wakefield Council, Councillor Denise Jeffery, says: “We want to ensure that all rented properties in the district are safe. Smoke and carbon monoxide detectors are cheap, easy to install and save lives.

“The council is urging all tenants in rented properties to contact their landlord to make sure the correct equipment is fitted in their home. Landlords have a duty to provide them. If your landlord fails to do this, please contact us immediately so that we can take action.”

If the council discovers that a landlord has not fulfilled their requirements, a remedial action notice will be served within 21 days. This notice will require the landlord to comply with the law within 28 days. If they don’t, the council will carry out the work and fine the landlord £5,000.

While many landlords support the aims of the regulations, some are concerned that the Government ignored calls from across the private rental sector to reconsider the timeframe for its enforcement last year.

Commenting on the passing of the Smoke and Carbon Monoxide Alarm (England) Regulations 2015 in Parliament last September, David Cox, the Managing Director of the Association of Residential Letting Agents (ARLA), said: “Whilst these measures are entirely sensible, ARLA is concerned that landlords will not have enough time to comply with the requirements, as it is simply impracticable for letting agents, who may manage a huge amount of properties, to gain access to the properties and to install these alarms on behalf of their clients in the timeframe allotted.”

On behalf of its members, ARLA wrote to the Government on this issue to raise its concerns and suggest that all landlords with existing tenancies should be given more time to comply. Despite the group’s efforts, the Government went ahead and enforced the requirements as planned.

All landlords across England must comply with the law, or risk facing a hefty fine.

Sharp Decline in Rental Property Levels Recorded

Published On: June 16, 2016 at 11:00 am

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Following a robust lettings market in April, a sharp decline in rental property levels has been recorded for May.

The Agency Express Property Activity Index reveals that new listings dropped by 11.9% and let properties fell by 11.1% last month, marking the greatest monthly decrease for May since the firm’s records began in 2012.

Recent figures from the Council of Mortgage Lenders (CML) have also confirmed that buy-to-let borrowing dropped hugely in April after a rush of landlords flooded the market to beat the 1st April Stamp Duty deadline.

Sharp Decline in Rental Property Levels Recorded

Sharp Decline in Rental Property Levels Recorded

Therefore, while May’s figures appear dramatic, they do remain somewhat distorted by the Stamp Duty changes.

The Director General of the CML, Paul Smee, comments: “There is a sense of calm after the storm this month, as lending eased back, following the significant rises in activity in March, as borrowers looked to beat the second property Stamp Duty deadline. We expect the market to take several months to return to its previous levels after the lending surge.”

Agency Express’ index recorded that all 12 UK regions saw decreases in new listings, while ten regions experienced a fall in let properties in May.

Some of May’s better performing regions include:

Number of properties to let 

  • Scotland: -4.1%
  • West Midlands: -4.2%
  • Wales: -5.2%
  • Central England: -6.7%
  • North West: -8.6%

Amount of let properties 

  • South East: +10.1%
  • Scotland: +4.1%
  • East Anglia: -3.7%
  • East Midlands: -10.5%
  • North East: -10.6%

The top performing region for May was the South East, where the number of let properties rose by 10.1%, marking a record best for May.

Strong figures were also recorded in Scotland, where let properties increased for a fifth consecutive month, by 4.1%.

The largest decrease was seen in the East Midlands, with the amount of properties to let falling by a record of 29.9%.

The Managing Director of Agency Express, Stephen Watson, says: “The Property Activity Index historically shows us a drop in figures throughout May. However, this month we have seen a much greater fall than in years previous. An unseasonal rush in activity throughout March, followed by a reactive dip in April and reduced lending has certainly blurred May’s figures. Now, with the impending EU referendum, it may be some time before we see a more balanced view of the UK lettings market.”

New Partnership to Deliver 5,000 Rental Properties

Published On: June 6, 2016 at 11:25 am

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A new partnership between Keepmoat and Sigma Capital Group will deliver 5,000 rental properties through a £800m investment.

Keepmoat, a housebuilder and regeneration specialist, and investor Sigma say that the new joint venture will provide around 5,000 homes for the private rental sector by 2021.

The project, which will mark Keepmoat’s first private rental sector venture, will feature a range of two, three and four-bedroom properties in locations across the North East, Yorkshire and the East Midlands, with construction expected to begin this summer.

New Partnership to Deliver 5,000 Rental Properties

New Partnership to Deliver 5,000 Rental Properties

The partnership will primarily deliver homes for rent on land owned and to be acquired by Keepmoat, while Sigma will undertake lettings and investment management.

The Chief Executive at Keepmoat, Dave Sheridan, says: “This is a significant milestone for our business, and we are proud to be working alongside Sigma to scale up their private rental sector growth ambitions.

“The partnership will deliver great quality market rented homes, alongside our Keepmoat homes for sale, which will allow the pace of housing delivery on strategic sites to be increased, to deliver the Government’s aspirations and provide people across the country with much-needed housing options.

“Sigma came to us because of our national capability, our great quality product and our efficient supply chain that delivers great value for money.”

Last year, Keepmoat built more than 4,000 homes, and the firm aims to increase their housing growth by 25% year-on-year moving forwards.

Sheridan adds: “To deliver this target, we are working closely with our supply chain – many of which are small and medium-sized businesses – to help them to growth and respond to the market need.”1 

The partnership with Keepmoat will significantly increase Sigma’s construction resource, access to land and geographic reach, as the company seeks to deliver high quality family homes to rent in large-scale across England. The new relationship complements Sigma’s long-term agreements with Countryside Properties Plc, as well as its existing private rental sector platform.

The Chief Executive of Sigma, Graham Barnet, comments: “I am delighted to be working with Keepmoat to not only create more housing options and meet the growing need for alternative tenure housing in key areas across the country, but they will support us with strengthening our private rental sector and regeneration portfolio.

“We are looking to significantly expand our business in the private rental sector, and this partnership will accelerate our strategy for growth in this market.”1

1 http://www.sigmacapital.co.uk/news/article/2016/06/03/major-new-strategic-partnershi/176

Landlords Offered Cash Incentives to Bring Empty Properties Back into Use

Published On: June 3, 2016 at 10:35 am

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Landlords and homeowners across the Deepings and Bourne districts of Lincolnshire are being offered cash incentives of up to £5,000 to help bring empty properties back into use.

As part of a nationwide effort to help boost the supply of rental homes to cater for growing demand from tenants, South Kesteven District Council (SKDC) is offering the payments, which are part of the Government’s £4.8 billion Empty Homes Community Grants Programme, to help landlords and building owners re-let properties that have been classed as long-term unoccupied.

SKDC’s Business Manager for Environmental Health, Anne Marie Coulthard, says: “It can be challenging for some owners of homes that have not been maintained over a number of years to bring them back into habitable condition.

“Therefore, the Government’s Empty Homes Community Grants Programme is a channel to help improve the condition and value of the property and, in some cases, allows landlords to let the property in order to generate an income.”1 

To qualify for funding from the scheme, the property must have been vacant for at least six months and owners must agree to charge rent below the Local Housing Allowance weekly rates of between £58.38-£153.02 for a minimum period of three years. Additionally, the property must be brought back into use within 12 months of work starting.

Landlords Offered Cash Incentives to Bring Empty Properties Back into Use

Landlords Offered Cash Incentives to Bring Empty Properties Back into Use

New research by property crowdfunding platform Property Partner estimates that England has over 203,000 long-term empty homes with a value of over £38 billion.

In London alone, 20,915 homes were empty for more than six months in 2015 – around £12.4 billion worth of empty property, despite a chronic housing shortage in the capital.

The London borough with the highest number of empty properties is Newham, where 1,318 homes were vacant for over six months in 2015. However, the greatest value of empty stock is in Kensington and Chelsea, where £1.7 billion worth of property is unoccupied.

Outside of London, Bradford has the highest number of empty homes, after recording an increase of 7% over the last decade to a total of 4,154 with an estimated value of around £400m.

Meanwhile, Manchester has seen the number of empty homes fall by over 84% in the last ten years, from 10,059 in 2005 to 1,599 in 2015.

West Yorkshire, including Bradford, Calderdale, Kirklees, Leeds and Wakefield, has the greatest number of vacant homes than any other English metropolitan district, at 12,292.

The CEO of Property Partner, Dan Gandesha, comments: “These figures reveal a shocking waste of opportunity. Over a decade ago, the law changed, giving councils the power to seize empty homes through Compulsory Purchase Orders and rent them back out to tenants if they lay vacant for more than two years.

“But we still find not enough being done in many parts of the country. This is nothing short of a scandal. To be fair, some towns and cities are getting to grips with the problem of long-term vacant properties. Yet if just half of the current empty homes could be brought to market, it would go a long way towards resolving the housing crisis, particularly in London.”1 

If you are a landlord with a vacant rental property, you should protect your asset with Unoccupied Property Insurance, which covers any damage until the home is rented again.

1 https://www.landlordtoday.co.uk/breaking-news/2016/6/cash-incentives-to-help-bring-empty-buildings-back-into-use