New rules have been causing confusion all over the UK, so let us break it down for you...
The secretary of State for the department of local communities approved a selective licensing scheme for landlords and managers of privately rented properties in two areas of Leeds in 2009, to improve living conditions for the residents and local community.
Changes to the section 21 procedure - On October 1st 2015, sections 33 to 41 of the deregulation act 2015 came into force.
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.
Despite a vast majority of private renters being satisfied with their accommodation, a small number of â€œrogueâ€ landlords are failing to meet the requirements expected of them by local authorities.
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.
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.
Leveraging as part of a growth strategy is flourishing once more; with a stronger economy investors are willing to take more risks.
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.
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.
To guarantee efficient building work is carries out with minimal disputes, landlords should take an organised approach before work begins.
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.