Features

Rental Demand Up

The first quarter of 2010 definitely saw an increase in rentals, to the point of some reporting gazumping for the first time in the rentals sector. This proved fruitful to landlords, giving less empty 'interims' between lets and often a choice of prospective tenants.

New Rules For Rents Above £25,000 Per Annum

At present an Assured Shorthold Tenancy covers rents up to £25,000 per annum (up to £2083 per month), but as of the 1st October 2010 any Tenancy with an annual rent between £25,000 and £100,000 in existence will automatically become as Assured Shorthold Tenancy overnight.

This change will parachute all of the rights and responsibilities of the Housing Act 1988 onto tenancies - as well as having to protect deposits for the first time. Failure to have them protected on the 1st October could be in breach of the law and the courts are being forewarned.

The changes are receiving mixed reviews, some are saying that changes in the law is one thing but to change the terms of agreed contracts is another, whilst tenants whose rents have been in the higher bracket are welcoming the mandatory protection of their deposits.

Landlords Being Fined

The Letting sector is under constant scrutiny from the Government and being up-to-date with legislation is not only vital but could cause you being fined thousands of pounds.

This month I would like to draw your attention to Gas Safety Certificates. This is a legal yearly requirement and all gas appliances must be tested.

You may not be aware, but 30 people a year die from carbon monoxide in the UK and if death is caused by a Gas Safety Certificate not being in place then it is a criminal offence and you could be charged with manslaughter.

Rented Properties – Electrically Safe?

A mother recently died from being electrocuted by bathroom taps at a rental home. The woman aged 33 died instantly when she was hit by 175 volts when running a bath. Her five-year-old daughter found her and raised the alarm.

The coroner said he found in inexplicable that whilst gas safety checks and annual gas safety certificates are a specific legal requirement, electrical checks are not.

The owner of the property said he remained deeply concerned that there is a gap in the legislation which permitted this incident to occur and which puts others at risk.

HMO Licenses – Do You Have One? Do you need One?

We are now at the beginning of student season and having our own University in Bournemouth means the influx of teenagers leaving home for the first time and 2nd and 3rd year students coming back from their summer off sees a rise in the rental market.

I think this subject has become more dear to my heart having two daughters away presently at university. Making sure they are living in good conditions, have enough fire extinguishers, a fire exit to hand, a Gas Safety and an Electrical Certificate in place and making sure their deposits are being protected in a Tenancy Deposit Scheme probably seems to them that I am being an over protective mother, but the fact is the above must be in place by law if you are living in a house of multiple occupancy (HMO).