March 11, 2009
Help with fire safety measures
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A Fire Safety Logbook will be the next step for landlords after a recent decision by The National Landlords Association (NLA).
The National Landlords Association (NLA) have decided that the compulsory fire safety in many buy-to-let properties is just not up to standard any more and hope that the Fire Safety Logbook will be the answer to any future problems.
Help with fire safety measures
A Fire Safety Logbook to help landlords maintain high standards of fire safety in their properties has been published by The National Landlords Association (NLA).
The online tool, which is available free to NLA members, allows residential landlords to keep a record of their fire safety precautions in one document, making it easier to ensure that all necessary safety measures are being implemented.
February 17, 2009
Bargain Hunters
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The amount of Bargain Hunters in the Buy to let investment industry is likely to increase over the next few months, as the lower interest rates allow more potential investors into the market.
Sales expectations over the next month or two are looking to top sales figures over the last 3 months, and could be the start of a positive turn around in the property market.
As both house prices and interest rates fall, Residential Landlords with finance are still looking for bargain opportunities says the recently published RICS’ UK housing market survey.
Expectations that sales will increase have turned positive once again with 10 percent more Chartered Surveyors expecting sales to pick up in the coming months. Optimism is most visible in London and across the South of England with the balance of surveyors expecting sales to increase in London rising from 18 percent to 38 percent. In contrast Chartered Surveyors expect house prices to continue to decline in the near term.
Buy to let investment loans
Story link: Buy to let investment loans
The Empty Homes Action Plan will help many residential landlords, with the aim of renovating empty or out of use homes, ready for rental in the future, which of course would be an asset to any landlords portfolio.
The project will be looking to target all the 2,000 homes that they have identified.
Residential Landlords in a Lancashire district may be offered loans as part of a new Empty Homes Action Plan to renovate problem sites. It is one of the options being considered by Pendle Borough Council to overcome the problem of an estimated 2,000 empty homes in its area.
The empty properties are considered a ‘wasted asset’ and the council has warned that it could begin legal proceedings to take over rundown locations to prevent the long-term decline of neighbourhoods.
Norwich helps landlords
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Councils are giving landlords more help now than they ever have before hand, which is of course excellent, especially if you are a new landlord and are unsure about certain rules.
Landlords in the greater Norwich area are being offered a helping hand through a variety of soon to be launched initiatives.
The Norwich landlord forum hosted by Norwich City Council, in association with the greater Norwich housing partnership (GNHP), made up of Norwich City Council, Broadland District Council, South Norfolk Council and Eastern Landlords Association – will be held on Wednesday 18 February from 5-8pm at the Council Chambers at County Hall.
Online for landlords
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The evolution of the internet has enabled jobs such as our shopping to take place both quicker and cheaper than ever.
Now a new initiative, set up by Charnwood Borough Council, hopes to turn things around for those with empty homes. The Council has set up a specialist website which aims to give hope to empty homes.
Residential landlords are being given an extra incentive to sign up to Charnwood Borough Council’s specialist website that aims to give a fresh start to empty homes.
The Authority’s Strategic Housing and Health Directorate has negotiated a number of discounts for property owners who register for the online Tenant Finder, Fresh Start and Landlord’s eForum.
HMO water contaminated
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If you are a landlord and you are presented with a Emergency Prohibition Order then you know you have done something wrong on a major scale.
Houses in Multiple Occupation as rental properties are extremely complicated and hard to look after, so if you are looking to purchase one, then its advisable to do extensive due diligence.
A landlord who failed to ensure a wholesome supply of water to his property pleaded guilty to failing to comply with an Emergency Prohibition Order (EPO) pursuant to Section 43 of the Housing Act 2004 when he appeared before Holyhead Magistrates Court recently.
The Isle of Anglesey County Council served an EPO on Barry Lloyd in May 2007 for the offence at his property at Tyn Coed Farm, Talwrn Road, Llangefni. As the landlord and owner, he was responsible for the House in Multiple Occupation (HMO).
Landlord fined £2,000
Story link: Landlord fined £2,000
Landlords who fail to ignore subtle advice should definitely be treated in this way, after all, the properties they are being asked to improve are peoples homes and way of life, so should be treated with care and respect, not disrespect.
A landlord who ignored calls for him to improve his cold, damp property has been ordered to pay almost £2,000.
Andrew Bevan, who lives in Southend on Sea, was convicted of failing to comply with an Improvement Notice for the house he let on Kara Street in Seedley, Lancashire.
Interest rate boosts BTL
Story link: Interest rate boosts BTL
The cut by the Bank of England now leaves the interest rate standing at just 1%. This will hopefully develop some new found interest within the property market and rental sector.
The Council of Mortgage Lenders suggests that the latest Bank of England rate cut is unlikely to have the desired affect.
This week’s further base rate cut by the Bank of England is unlikely to have a material effect on the overall state of the mortgage market, the Council of Mortgage Lenders has concluded.
On Thursday the Bank brought the base rate down to an all-time low of 1 per cent.
Recession BTL guide
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Recession BTL guide
Owners of properties are finding them selves in an awkward position, as they definitely do not want to be selling their properties at such a discounted rate, but would rather tighten their belts by renting for the time being.
This has led to an increase of rental properties by around 60 percent, which is likely to devalue the rental sector.
‘Accidental’ landlords are being warned that they must take care if they are not to suffer even more as the recession takes hold.
“We have observed a 68 percent increase in the number of rental properties in January compared to a year ago, with a large majority coming from homeowners not wanting to sell in a depressed market,” said Virginia Skilbeck, director of lettings at Douglas & Gordon.
Landlord gets reduced fine
Story link: Landlord gets reduced fine
If a law is put into place and then broken and there is a set penalty for the offender, then I do not really understand why that penalty should be decreased, after all, the landlord was just confirming what the courts already knew by pleading guilty.
Rogue landlords such as the one mentioned should be made an example of.
A landlord has had his fine reduced from £7,500 to £2,500 in recognition of making an early guilty plea to charges arising from his failure to license a house in multiple occupation.
Gravesham Borough Council told Dartford Magistrates Court that Paramjit Singh Bansal, of Milton Road, Gravesend had jeopardised his tenants’ safety at the four bedroomed property he rented to them in the same town.