Author: Edward Carter

I read some research recently that showed the number of landlords in the UK had grown by 27% in the last five years. It was London based estate agent Ludlow Thompson who produced the figures showing the number of landlords had risen for the fifth consecutive year and that on average they own 1.8 investments each. This shows that, despite the uncertainty around the property market as a whole, landlords continue to see the residential as a sound investment. The research showed annual returns on investment of almost 10% since 2000. There was more to interest landlords in other recently published research and reports. Property Partner, for example, looked at…

I expect you have heard of property developer, entrepreneur and TV presenter Sarah Beeny. As she explained in a recent interview in The Daily Telegraph, she knew that she wanted to go into property development from a young age. While friends and contemporaries were studying hard at university, Sarah was checking out the property market and by her mid-20s had an established property development business. A chance meeting and conversation at a hen party resulted in a successful screen test and when her first TV show Property Ladder appeared her career really took off. Although Sarah outsources the electrical and plumbing work to professionals, she has…

It was reported in July that the government is planning to introduce new compulsory three year contracts whilst allowing tenants to walk away from the tenancy before the end of the term if they wish. Unsurprisingly most landlords have expressed anger at the proposals. At present, some 80% of tenancies in England and Wales are assured shorthold tenancies of six and twelve months. Within that timescale, a landlord can currently ask a tenant to vacate the premises, sometimes at short notice. The proposals of the Housing, Communities and Local Government Secretary, James Brokenshire, will put an end to shorthold tenancies, if the legislation goes ahead.…

It is not something that everyone will be aware of, but I am pleased to say that we are members of a redress scheme overseen by the Property Ombudsman. Back in October 2015 the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015, known as the ADR regulations, officially came into force. These regulations require businesses to: •    Advise any complainants of their redress membership •    Display the contact details of their redress scheme as well as the 12 month timescale for referring disputes Trading Standards officers have previously successfully prosecuted a number of letting agents who were not…

At the end of October the government launched a consultation looking into ways of making the house buying and selling process faster, cheaper and less stressful. Communities Secretary, Sajid Javid, announced he wants to hear from people all across the sector including estate agents, solicitors and mortgage lenders.  He said “we want to ensure that we address issues across the whole sector, from ways to tackle gazumping and reduce time wasting to increase commitment to a sale.” The consultation runs for eight weeks from 22nd October, closing just before Christmas. Specific areas to be looked at include: •    Gazumping.  This occurs when…

It is the start of a New Year and the time for considering how you can improve things in your life.  If you are a landlord, you might consider these questions: Are you happy with the service you get from your current letting agent? Do you think changing agents will upset your tenants? Are you worried that there will be cancellation fees if you change agents? Think again! I believe in giving my landlords the very best service possible and if your letting agent is not providing that for you then you should be thinking about making an Easy Switch. Just let your…

My goodness but it has been chilly recently! Apparently last year’s insurance claims for boiler faults from landlords showed an increase of over 5%. The sub-zero temperatures brought on by the Beast from the East are sure to see this rise again. I am sure I do not need to tell you that calling out an emergency plumber can be extremely expensive. I have heard of call out fees in these wintery conditions that have been more than double the average call out rate. So what steps can a landlord take to protect themselves from boiler breakdowns and leaks? I…

I am often asked why a landlord should employ an agent when letting property. To my mind the answer is a combination of saving you time, aggravation and quite possibly substantial amounts of money. It all begins with finding the right tenant. You may well be quite happy to advertise your property, arrange and conduct viewings and make follow up calls to ascertain whether the person liked the property and if not why not. Once you find someone who is interested there are the referencing and tenant checks to carry out. The problem is that it can become difficult not to get emotionally involved with…

Let’s start with a couple of definitions: MEES – Minimum Energy Efficiency Standard. EPC – Energy Performance Certificate. Since October 2008, landlords in England and Wales offering property for rent have been required by law to provide prospective tenants with an Energy Performance Certificate for their property. The certificate must be provided free either when or before any written information about the property is provided to prospective tenants or a viewing is conducted. From 1st April 2018 MEES come into operation requiring landlords of all rented property in England and Wales to ensure that their properties reach an EPC of at least a rating of E before granting a new…