News
Residential Property
28th June 2016
Changes to the section 21 procedure
On October 1st 2015, sections 33 to 41 of the deregulation act 2015 came into force. They contain new protocols which must be abided by regarding how and when landlords can serve a notice ending an assured shorthold tenancy, under section 21 of the Housing Act (1998).
Sealing the Envelope
28th June 2016
The past 20 years have seen an emphasis on developing more energy efficient buildings. The main motives are to improve energy efficiency, reducing heating bills and increasing comfort levels for occupiers. To achieve this buildings are being made more airtight whilst ensuring the number areas of leakage are reduced. Airtightness guidance was introduced to encourage improvements along with air permeability testing. The results are used to assess the buildings thermal insulation and overall energy use.
UK Plans clean-up of private rented sector
28th June 2016
Despite a vast majority of private renters being satisfied with their accommodation, a small number of “rogue” landlords are failing to meet the requirements expected of them by local authorities. However, under new regulations set out by the UK government both landlords and letting agents who fail to comply face higher fines and possible blacklisting from the property industry. Growing concerns over the state of the private rented sector have prompted these changes to take place. For example, on a recent inspection of 40,000 privately rented properties, roughly 3000 were found to be of such poor condition that enforcement action or prosecution were required.
University Market Briefing (Leeds Briefing, July 2015)
28th June 2016
In the past 5 years the number of students in higher education has steadily dropped from 25,000 to almost 23,000. The most dramatic drop being among undergraduate students. Despite this statistic, it has been revealed that as of May 2015 there were 647,610 applicants for courses starting in September 2015. This is higher than the previous peak in 2011, a year which saw 643 thousand applications.
New Legislation on Smoke Alarms
14th August 2015
The new smoke alarm and carbon monoxide alarm (England) regulations 2015 require all landlords to provde a smoke alarm on wach storey and a carbon monoxide alarm where there is a fuel burning appliance.
The Power of Leverage
1st July 2015
Leveraging as part of a growth strategy is flourishing once more; with a stronger economy investors are willing to take more risks.
Budget Measures Hit Letting Agents
1st June 2015
There has been much discussion about how changes to tax relief will affect landlords; however letting agents could be considerably affected by the budget announcment also. The tax relief on buy to let mortgages has decreased by 45% this will have a huge influence on net returns.
Change to Capital Gains Tax for non UK Residents
1st May 2015
Changes to capital gains tax rules in April 2015 means non UK residents who own residential rental peoperty in the UK should take action and get their properties valued. Failure to do so could result in paying higher taxes if and when a property is disposed of.
Disputes with Builders
1st April 2015
To guarantee efficient building work is carries out with minimal disputes, landlords should take an organised approach before work begins.
Lettings and Property Redress Scheme for Agents
1st September 2014
As of 1st October 2014 it became a legal requirement for all lettings agents and property managers in England to join a government approved redress scheme.
