Working with Letting Agents

A Landlord’s Guide to Letting Agents and their Fees   Paul Shamplina, the landlord’s friend and founder of Landlord Action, has devised this helpful guide for landlords exploring what they need to know about letting agents.   https://youtu.be/NZYhv1Qa_PM
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Glide Introduces Risk Free Bills Inclusive Package for Landlords

Student utilities and service provider removes potential of bills for excessive tenant usage Specialist student utilities and service provider, Glide, today launches Risk Free Bills Inclusive to provide greater peace of mind to landlords and letting agents of shared households throughout the UK. Inclusive rates have become increasingly popular among students over recent years; with almost three quarters (74%)1 saying that a rent package that includes utilities is an essential or important factor when choosing a property. In response, more and more landlords are offering inclusive rates, but in doing so they can run the risk of receiving a bill themselves at the end of the year for tenant excessive use. Bills for excessive use are rare due to the intuitive nature of the Glide payment plan, however, to avoid completely and give landlords greater peace of mind, Glide has introduced Risk Free Bills Inclusive. With this new package, Glide takes...
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Landlords and tenants in despair as Oliver Knights shuts shop

Landlords and tenants are in despair as a London letting agent, Oliver Knights, is thought to have closed down, owing thousands of pounds in unpaid rent and holding deposits. Landlord Action had been instructed only weeks ago to recover more than £10,000 for one landlord and £8,000 for another, but with signs the company has ceased trading, and more cases coming to light on a daily basis, the outcome is looking bleak. In 2010, Mr Tan Chun Keung, purchased a property in Canary Wharf as a steady stream of retirement income, appointing a letting agent to manage his property, which he maintained worked well. However, when the tenant moved out and the property was advertised as vacant, Mr Tan Chun Keung received a call from Oliver Knights claiming an international bank had offered to rent the apartment for their staff at market price for a period of three years. Although...
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1st October is D-Day for Letting Agents

So at last the Government has agreed that every letting agent in England and Wales must join an authorised consumer redress scheme to ensure tenants and leaseholders have a straightforward option to hold their agents to account.  The law comes into effect from 1st October 2014. Any agent that fails to join one of the three approved redress schemes, The Property Ombudsmen, Ombudsmen Services or The Property Redress Scheme, will face a fine of up to £5,000 from their local authority and could ultimately be closed down if they continue to breach their legal requirement to join such a scheme. After joining, the agent must comply with the schemes Ombudsman decision as failure to do so may result in the agent being removed from that scheme. This may then result in the agent being unable to join another Government authorised consumer redress scheme. By joining one of the schemes, the property professional confirms they will...
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New report finds that students make the best tenants

As a landlord or letting agent, there are many factors to consider when renting a property, including finding your ideal tenants. On first glance students may not be your first choice, but new findings by utilities and service provider for students, Glide, and Accommodation for Students, found that students are in fact the most desirable tenants.
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The Legal Responsibilities of a Landlord

There are legal responsibilities that must be adhered to if you would like to become a landlord. This brief article will outline these responsibilities, for those of you who are in this position as a check list and for those of you who are currently renting a property and believe that your landlord has breached or is breaching any of these responsibilities. In a world where house prices are rising rapidly, more and more people are turning to renting and letting as it is a more cost effective solution. It is partly because of the rising numbers of tenants now privately renting that the regulations have increased over the past few years.  You, as the landlord need to be confident that you are acting within the law. Most of this is fairly apparent and landlords do it automatically, but it’s good to know what the legal requirements are. Repairs The...
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Extortionate court fee increases will impact landlords

Landlord Action has lambasted Government plans to increase court fees as “extortionate”.  The planned changes will take effect from 22nd April 2014, where fees for possession claims will see one of the largest increases at 60%, and could spark a stampede of possession cases in the next two weeks from landlords trying to beat the rises.   Currently the application for possession, which is used after service of a section 8 notice, costs £175, the same as an accelerated possession claim used after service of a section 21 notice. From 22nd April, this will increase to £280. The possession claim online (PCOL) service which can only be used after a section 8 notice on rent arrears grounds, currently has a substantially discounted fee of £100. This will rise by 150% to £250, making the discount for using the online system far less appealing. The Government has stated “the benefits brought...
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Landlord Discord: Thousands of Tenants Withhold Rent Over Delayed Repairs

Hundreds of thousands of private tenants a year are taking matters into their own hands and withholding rent from their landlords because of delays resolving emergencies like heating and electrical faults, new research reveals.1
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The growth of generation rent

Anyone who likes to keep up to date with developments in the private rental sector (PRS) will no doubt be familiar with the phrase generation rent. This term has become commonplace in the industry in recent times and essentially refers to the growing number of young people who are living in rented accommodation rather than buying their own home.
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Boris launches London Rental Standard and tells landlords to sign up

London Mayor Boris Johnson has published the final version of his London Rental Standard, which will mean a huge push of all landlords and agents towards voluntary accreditation.
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5 things to think about before instructing an Online Estate Agent’

In the last five years or so it has become generally accepted by savvy consumers that instructing an internet estate agent will save you money when compared to a traditional agency; but let’s not forget it’s not always all about the money! If you have already made the decision to opt for an online agent take the time to consider these five essential points to ensure you instruct the right agent for your needs before taking the plunge:
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Two new professional conferences launch for property developers and landlords

For the first time, The National Homebuilding & Renovating Show (NEC, Birmingham 21-24 March 2013) is introducing two separate professional conferences at the show - one developed specifically for UK property developers and the second targeting landlords. Both conferences will provide expert insight into the issues and challenges the industry will face in 2013 and beyond.
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LANDLORDS SHOULD BE FLEXIBLE FRIENDS

New poll reveals Nick Knowles and Kirsty Allsop as ideal landlords A survey from the National Landlords Association (NLA) has found that tenants rate flexibility (26.7%) and friendliness (24.1%) as the top personality traits and skills a landlord should have. The research, to mark the launch of the NLA Property Women Awards 2012, found that 80% of tenants were satisfied with their current landlord.
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Tenants cry foul over deposit reductions

Major independent survey reveals tenant-tension over deposit reductions As the Tenancy Deposit Schemes continue to dominate the news agenda in the residential property industry, digital inventory platform Imfuna is today launching further findings from a major survey of landlords, lettings agents and tenants, which found that 65 per cent of tenants feel that deductions from their deposit were taken unfairly. The survey reveals the factors at play when deposits are withheld; finding that on average tenants have 80 per cent of their deposits returned, with a worrying 16 per cent of the 1,000 tenants surveyed stating that no reason whatsoever was offered for deductions. Landlords on the other hand said that they most commonly make deductions as a result of outstanding rent (70 per cent), closely followed by cleaning costs (69 per cent). Damage to the structure of the house (45 per cent), to furniture (39 per cent) and to...
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Deposit schemes stacked in tenants favour, landlords claim

Nationwide survey shows 0% of landlords think that deposit schemes are designed in their favour A startling zero per cent of landlords said they felt that deposit schemes are designed in their favour over tenants, according to a new survey released today by digital inventory platform, Imfuna. Just over half (54 per cent) said that they thought current schemes favoured tenants, while 35 per cent claimed that neither party benefitted from the schemes.
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Pay off your Mortgage and secure a strong pension

In just 10 years from now, how would you like to have paid off your home mortgage in full and have secured a strong pension?
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Real Life Stories

We recently asked our subscribers to provide us with some real life stories for us to share. We personally find these stories really interesting, whether theyre horror stories, funny stories or simply stories to learn a lesson from.
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How do you deal with property emergencies?

The myth surrounding what the landlord can, should, or is obliged to do in the event of a property emergency is often preyed upon by letting agents to frighten the landlord into employing an agent to manage their property.
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What do you want from a Letting Agent?

  To be honest over the years, I have had quite bad experiences with letting agents.  I’m not tarring them all with the same brush but they do have quite a bad reputation! As a property investor I was thinking about what I wanted from a Letting Agent. From my point of view the key things are:   Communication Tenacity Motivation to let the property Honesty Trust   Over the years I haven’t received that sort of service at all. However, I have to say recently I have found a fantastic agent for my properties in the North West.  Claire Clark from Purple Cow Properties has been brilliant. A tenant in one of our apartments gave notice but was unsure of their move out date.   Claire was very willing to be flexible as the date kept changing.  They finally gave an actual move out date and Claire put the wheels...
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