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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

Landlord's confidence in UK's improving fortunes

19th Apr 2014

 According to research carried out by a Landlord's association, landlords are extremely positive about the UK's recovery and nearly a third (31 per cent) are confident in the financial market continuing to be "good or very good". This is a rise of 10 per cent from previous expectations of 21 per cent in the same period of last year.

The research also showed that 27 per cent of landlords have voiced their interest to invest further into the property market over the forthcoming year.

There is a slight fear that any form of interest rise may affect their ability to keep up with the mortgage repayments and 21 per cent said that they would definitely be unable to cope with a 2% rise. Over a third (35 per cent) would find their situation hard if a rise of 2.5% was introduced and 41 per cent would struggle with a 3% increase.

The Bank of England have recently stated that the current interest rates will stay at 0.5% and that it is likely that towards the end of 2015 will see the first rise being introduced.

A spokesperson for the association said: “Landlord optimism around the UK’s financial recovery, coupled with the Bank of England’s announcement makes good reading for anyone considering buy-to-let investment. This is evidenced by the significant number of landlords who will be looking to add property to their portfolios over the coming months

“However, it’s inevitable that interest rates will rise as the economy improves and we move out of recession and our findings show that moderate increases would leave many landlords stretched in meeting their mortgage repayments.

“Anyone thinking about buy-to-let investment should do so with a view to long-term sustainability, and vital to this is adopting a professional approach to your lettings business.“


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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

 

 

 


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Fit for Habitation|March 2019 The ACT is intended to define minimum standards a rental property MUST be and makes a clearer pathway way for Tenants to be compensated|https://www.pims.co.uk/fit_for_habitation_act_march_2019/ Guarantor|The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail|http://www.pims.co.uk/guarantors/ MEES|The Minimum Energy Efficiency Standard (MEES) Landlords are charged with the requirement to bring their rental property to a minimum EPC rating of E. Property with F and G rating will effectively be banned from the rental market April 2018 |http://www.pims.co.uk/epc/ Section 11|Section 11 of the Landlord and Tenant Act 1985 places an obligation on the landlord to maintain the structure and exterior of the property, including installations for the supply of water, gas and electricity, heating systems, drainage and sanitary appliances|http://www.pims.co.uk/landlord-section-11-repairs/ serving date|This date is the date deemed received at the property - as an example if posted allow for posting days|/serving-notice-on-a-tenant-delivery-days/ Tenancy Application|The objective of vetting is to empower yourself so you can make an informed decision as to the calibre of the prospective person. Making your decision on facts and figures is invaluable and this is why you should always take references. The application form also provides you with permission to perform credits. This form details all the information you should ever require deal with most eventualities including absconding tenants|http://www.pims.co.uk/doc/57/ Tenant Fees|From June 2019 where renting properties in England gone are the days of charging for admin, letting fees, vetting, references, inventory, check in, check out, cleaning, pet insurance or ANY other fee that is not explicitly permitted within the legislation. |https://www.pims.co.uk/ban_letting_fees_act_2019/