New HMO rules come into effect on 1 October and landlords are being warned to pay close attention, to ensure they don’t fall foul of the regulations. Landlords who fail to comply with the new rules could end up paying a hefty fine to the tune of £30k. They could also be prosecuted.
Research carried out by Safe Deposits Scotland has found that 55.8% of tenants have no idea that they can challenge deductions made from their deposit by a landlord. The study also found that 36.4% don’t know how to claim their deposit back, which is a bit worrying.
Landlords are increasingly using a variety of tools at their disposal to check up on potential tenants before they offer them a tenancy agreement. A study by a leading home loans company has found that 11% of landlords use Facebook to screen would-be tenants before they let them move in.
Nottingham landlords with HMOs are facing rising costs. The price of a landlord licence for properties with more than four tenants in occupation is set to rise by £420. Landlords who are ‘less compliant’ will have to pay even more.
Some landlords are offering free accommodation in return for ‘sexual favours’. A recent BBC investigation found some landlords were advertising for tenants to provide sexual services in return for free rent.
Landlords are required to place a tenant’s deposit in a deposit protection scheme for the duration of a tenancy. When the tenant leaves, the deposit is handed back, but if there are any issues, a landlord can withhold some or all of the money. The Deposit Protection Scheme (DPS), a government-backed service, has revealed the […]
Changes to the Tenant Fees Bill, which has just passed through Parliament, mean that landlords can no longer charge indiscriminate fees for spurious reasons. New plans revealed by the government a few days ago mean landlords will now have to provide evidence before they can charge tenants reasonable costs for repairing or replacing items.
This week we’re looking at all things landlord / tenant fees. From holding fees, deposit fees and end of tenancy fees, we’ll be covering everything you need to know about the different fees you’re able to charge your tenants, and the legislation that’s changing everything. You’ll be an expert by the end of this week! […]
Many landlords don’t want to take on social housing tenants. They actively discourage tenants in receipt of Universal Credit not to apply for their properties because they don’t want to be stuck with tenants who can’t/won’t pay the rent.
Research carried out by The Daily Mail’s Money and Property section has revealed that higher rate taxpayer landlords with buy to let mortgages are paying an effective tax rate of 66% on their rental profits. Landlord organisations now fear that such a dismal return will encourage many landlords to leave the sector. If this happens, […]
On the 5th September MPs voted on a government bill that seeks to improve the rights of the UK’s tenants. Some would argue that any improvement is great, but Labour doesn’t feel that the new draft laws go far enough. They want to add extra amendments so landlord and letting agents face even tougher penalties […]
Most landlords are law-abiding people who want to do the best job they can for their tenants, but a small minority continue to capture all the headlines and create havoc in the private rental sector.
After quizzing the landlords on its books, an online letting agent has revealed that only 5% of those surveyed described themselves as professional landlords, i.e. they owned five or more properties. The rest had another job and used buy to let to supplement their main income.
With millions of students heading to university in a few weeks, student landlords up and down the country are frantically working hard to replace mattresses, fit new appliances, and prepare their accommodation for the hordes of young people moving to uni towns and cities.
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