Tackling money laundering in the letting industry
Tackling money laundering is high on the Government’s agenda and the Economic Crime Act 2022 came into force quickly earlier this year following the invasion of Ukraine and concerns about property owned by Russian oligarchs. In July updates were made to the guidance for those in the letting business and these were designed to help […]
Regulation Changes Coming In On 1st October
From 1st October all rented properties in England must provide a carbon monoxide alarm in rooms where there is any type of fixed combustion application. All alarms must be in proper working order at the start of a new tenancy. The new regulations form part of the Smoke and Carbon Monoxide Alarm (Amendment) Regulations 2022 […]
The importance of inventories in deposit dispute
It is encouraging to note that the number of deposit disputes has dropped, but with the average tenancy deposit now at over £1,000 this still means that around £27m of deposits is being held in disputes. I thought it would be useful to take a look at how important inventories are in managing deposit disputes. […]
Warning to landlords to ensure money protection
Mandatory money protection is in place to protect landlords and tenants, so it is saddening to see another local case going through the courts where an agent closed their business, with £80,000 owing to their clients As reported in this paper, the owner of Smart Residential Letting Agents in Newmarket recently pleaded guilty to two […]
Switching agents – what you need to know
At a time when we are all feeling the squeeze from the cost of living rise, many of us are looking where we can make efficiencies but while the savings from energy, food and banking are all front of mind, the service you get from your letting agent is often not. This is an area, […]
Holiday lets and the housing market
With the summer holidays well and truly upon us, many of us have plans for getting away and we know too well that Suffolk remains a very popular destination for those taking a break. But what impact does the number of holidays lets have on the local housing market? The UK Government is looking at […]
Is it too soon to say New Year, New Home?
Despite expectations that the property market will start to slow, latest reports from Propertymark, carried out with their estate agent members, shows that a buoyant market continues. The average number of properties for sale per member branch from the latest data was 22—in line with the average of the previous three months. Equally the average […]
Landlords self-managing property
The most recent English Private Landlord Survey, conducted by the Department for Levelling up, Housing and Communities, was carried out in 2021. It aims to inform Government of landlords’ experience and how they acquire, let, manage, and maintain privately rented accommodation. These surveys have been regularly carried out since 2001 and it comes as no […]
Renters’ Reform Bill in focus
Despite the initial negative focus, the Renters’ Reform Bill received in some media, where some put landlords under the spotlight, there are proposals that bring good news too. It had been uncertain how the removal of Section 21 would be dealt with, but proposals to ease the process of tenants in repeated arrears and further […]
More landlord support needed with pets in rental property
As a nation of animal lovers, the subject of pets in rental properties is always one that gets attention but results from a recent survey have meant calls are being made on the government to give landlords greater protection when it comes to any damage that may be caused. The survey was carried out jointly […]