13th October 2009

New EU proposals could force landlords to alter rental properties for disabled tenants they may never have.

The UK's current regulations require certain changes to be made to a property to cater for the needs of a disabled tenant.

However, regulations by the European Commission could mean changes would have to be made in all rental properties, irrespective of whether the present tenants require them.

Necessary changes could include external ramps, and adapted bathroom and kitchen facilities among other points.

There is worry from some sectors who believe that the legislation would mean an unnecessary expense for landlords.  There is also concern that it could turn investors away from buy-to-lets, exacerbating the housing shortage in much of the UK.

Richard Jones of the Residential Landlords Association (RLA) states: "This is particularly wasteful and excessive when landlords cannot possibly know in advance what work may be needed to cater for a tenant who, in most cases, will probably never appear anyway."

This opinion is shared by Stephen Parry of property law experts, Landlord Assist: "We are being told of a housing shortage and therefore government initiatives should encourage the development of the private rented sector."

However, as a directive it would be meant only as a guideline. Each government would have significant flexibility in to the extent to which it is enforced.  The government has so far not commented on how it would respond to the legislation if passed.

Compiled by LUDLOW THOMPSON ESTATE AGENT
 
 
Mortgage holders 'could see price of home drop' Written by Simon Whittaker

It remains to be seen if the rising unemployment figures in the UK have an effect on the price of property, according to Selwyn Lim, director of online property information portal Mouseprice.com.

Those with buy to let mortgage products and other types of home loan could yet see the value of their assets weaken in the coming months, it would seem.

Mr Lim said that those who think unemployment will have an impact on the value of housing are "pessimists".

"Unemployment is one of the lagging economic indicators with regards to economic cycles," he explained. "Typically, if the past is anything to go by, it is the last indicator that tends to keep heading downwards while there is a turnaround in other indicators."

The industry expert added that there have been a number of reports citing an upturn in the property market, but some observers are waiting to see what rising jobless figures will do to the sector.

Earlier this month, official statistics showed that unemployment in the UK had surpassed 2.4 million.
 
 
 'Higher rents on the horizon' for buy to let landlordsWritten by Jeni Browne

Landlords with buy to let could be set to benefit from higher rental incomes in the near future.

According to the managing director of landlord website Smartlandlord.co.uk, Keshav Thukaram, there will soon be an increase in the ratio of prospective tenants to available rental properties.

Consequently, rents can be expected to "rise considerably", the industry expert suggested, before warning landlords of the importance of having rent guarantee insurance in place in case their tenants lose their jobs and cannot pay what they owe.

Reflecting on the buy to let industry as a whole, Mr Thukaram said: "The private rented sector has a major role to play in pulling the housing market out of the current slump and in housing people in years to come."
 
 
Buy to let landlords can join NLA list

Written by Michael Aglony

Landlords with buy to mortgages have the opportunity to sign up for a special mailing list to keep them up to date with a forthcoming industry event.

Those who want to keep abreast of the news concerning this year's National Landlords Association (NLA) National Conference 2009 can head to the organisation's website and sign up.

Running from Friday November 20th to Saturday November 21st at the Holiday Inn in Birmingham city centre, the gathering will involve workshops and networking opportunities.

Speeches from government and industry figures will also take place, while the two-day event will also provide the chance for landlords to debate the latest political proposals affecting the private rented world.

One hot topic is sure to be the government's plans to introduce a landlord register in England, which has not been welcomed by associations working in the sector.
 
 

More products available soon!

 
Sarah Beeny 06/13/2009
 

Property developing can be sexy too!

 
 

I recently received this email  and thought it was extremely useful


I'm a private landlord and i have just managed let my flat in a week through an internet agent who lists on Rightmove and it only cost me fifty quid! I have spent years paying thousands to high street agents. The internet agents i've used use sites like Rightmove and Find a Property and list properties all over the country.  All you do have to do is your own viewings. It's such a good idea! It's just what we all need!

 

Here are a few I've used in the past:

 

www.urbansalesandlettings.co.uk/LandlordPackages.aspx

 

www.magnoliaproperties.co.uk/landlords

 

http://www.simply-let.com/

 

Pass it on!

Sara

 
 
credit score expert
Credit Score Expert

I just had to tell you about this book I read recently!

 I have been absolutely astonished by the things that I just didn’t know about my Credit Score and Credit History!

The ‘Amazing Credit Score Secrets Revealed!’ written by my good friend, Maria G Forte, gives so much information in the 100 pages that I think it’s really well worth getting a copy for yourself! Don’t miss out on the Special Bonuses too… so hurry!

Click on the link:

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Let me know what you think…?

Kindest regards,

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PS look out for the forthcoming interview with Maria G Forte!
 
 

Facebook has many uses.........who knew evicting bad tenants would be one of them :-)

A LANDLADY has become the first in Britain to boot out tenants after they trashed her home and posted pictures of the devastation on Facebook.

Former estate agent Miss Lorimer, 26, saw her wrecked buy-to-let property after a Facebook friend was 'tagged' in an album of photos taken during a series of Skins-style house parties at the two-bed flat.

http://www.thesun.co.uk/sol/homepage/news/article2374571.ece

Tenants you have been warned!

 
 

Are you afraid of renting your property to DSS tenants? If so then forget the time when DSS tenants were regarded as suspects who can harm your property. Before going further to explain the reason behind the changed perception, it is important to understand who the DSS tenants actually are? DSS tenants are those people who fall in the need of urgent homes like a single mother or a homeless person.

There are some approved letting agents that will accept people on DSS. They have a direct working relationship with the councils to make property available for the needy person. A time period has been prescribed for the tenancy and that is not more than a year. During the tenancy period, if any problem related to renting place brings up then the matter will directly go to the council through the letting agents. The landlords will get an assurance that the rental monthly payments will be given to him without any delay.

The process of DSS tenant is somewhat different from the private rental. If the tenant satisfies with the rental property, then a Pre Tenancy Determination form will be filled by him that includes some details like the rental value, number of rooms etc. After filling up the details, the form will be forwarded to the council officer. Once the form has been accepted, the actual tenancy agreement will be made.

Now the landlords may have changed their negativity towards the DSS tenants.


I have recently let my property for guaranteed   rent  at 10% above what every  other agents is quoting at the moment for my area.The catch is that the property is let  to DWP ( Department for Works and Pension) tenant - formally (DSS)Department of Social Security).

The agent has a constant stream of DWP tenants and is very familiar with this type of tenant. I am more than prepared to let him have the excess from the rent if he is prepared to guarantee that he will pay me each and every month other wise he pays me a penalty. This way I dont have to check that the tenant has filled in the right forms before i get my money I just have to deal with the agent

This is not the normal deal you would get from an agent but it is definately win! win!

The agent operates in a particular part of the London area so the deal may not work every where but if you are interested drop me a comment and I can pass on your details.

Be aware there are thing to be conscious of when working with DSS which are highlighted in Landlords Journal downloadable forms