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 […]
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 […]
Firms boost their investment in PRS
Many large institutional investors in property have seen a downturn since the pandemic in their commercial property portfolios and some have refocused their sights on investment in the private rented sector (PRS). In the last month some of these plans seem to have accelerated significantly, but is this the boost that the PRS needs to […]
Highlighting the importance of Client Money Protection
Since April 2019, all letting agents handling client money have been legally required to hold valid Client Money Protection (CMP) scheme membership and abide by the regulations involved in this. CMP has long been compulsory for licensed members of the industry body, Propertymark, which Pennington is part of, and the scheme exists to protect landlords […]
Calling for a long-term approach to the private rented sector
I am the strongest supporter of private landlords as they are individuals who we all depend upon to provide much-needed housing in this country. Quite simply, without them we would not have a private rented sector. But also, having been in residential letting for over 35 years, by far and away most private landlords I […]
How to avoid deposit disputes
New figures show that the average tenancy deposit has exceeded £1,000 which is a significant sum and one that most tenants can ill-afford to lose. Happily, the number of disputes is seeing a decline, yet a staggering estimated £27m of deposits is being held in disputes. I thought it would be useful to look at […]
A shrinking PRS cannot continue
It pains me to read yet another report on the supply and demand issues we are facing in the private rented sector (PRS) which concludes that the sector is shrinking at a quite alarming rate. The research was carried out by Propertymark and has been featured on the BBC and draws data from member agents […]
Renting Reform
The Renters’ Reform Bill was first announced back in December 2019 at the state opening of Parliament, as part of the Queen’s speech to set out the then new Government’s plans. It formed part of the Government’s intentions to “enhance the rights of those who rent” and the bill set out measures to be considered. […]
The Buy-to-Let Properties Most in Demand
As we are all aware the supply of properties available to rent cannot keep up with the demand from prospective tenants and as one of the largest local agents, at Pennington, we are certainly seeing this. This all means that rents are healthy but what does it mean for those thinking about investing in property? […]