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What makes a good tenant? This is a never-ending question and one which will vary between individuals. Sometimes landlords have their own specific requests for who their ideal tenant is, which you may have to delicately decline from time to time.
If the subject line wasn’t a big enough hint, today we’re going to take a look at Selective Licencing. For any specific information, we will be referring to Oxford as it’s one of the most regulated areas for lettings due to the significant proportion of the city which is in rented accommodation, approximately 50%! Also, just to be clear, I am not referring to HMO licencing as that’s a whole other topic we’ll cover another time.
Proptech is a jungle which many will have already navigated in one way or another, others avoid at all costs, however the time has come for everyone to become an explorer and embrace the tech revolution.
The subject of Build to Rent, otherwise known as BTR, B2R or co-living, is growing in all areas of the UK. It started predominantly in London as a way for new professionals to be able to afford rents without the need to move into HMOs. It started back in 2012 and was used as part of the legacy program for the Olympic developments to change to private rented accommodation. Since then it has grown in momentum with 38,000 properties being built in the year Aug 2021-2022 which was backed by an investment of £4.7bn.
It is now practically impossible to drive anywhere without seeing a registration place without the little green rectangle on the left hand side. According to SMMT 1.1% of new vehicles were plug-in, which grew to 3.2% in 2019, but accelerated to 18.6% by the end of 2021. The electric vehicle trend is now common practice when considering a new car and with the government policy that all new vehicles from 2030 need to be electric, this is something which cannot be ignored and will soon be a must for tenanted properties.
It’s a dread for many, a ‘To Let’ board goes up next door and a new neighbour will be moving in. Will they be the perfect neighbour, or will they immediately start with late night loud music? Anti-social behaviour is all around and takes many forms, and can be addressed in a number of ways, but where a letting agent is involved it’s often the agent who receives the brunt of the complaint. It is very rare to receive a report from your tenant of the people next door!
Unless you have been under a rock for a very long time, you will know about the main social media platforms out there. This has been a way for people to connect, share their thoughts or what’s going on in their lives, but are agents utilising its potential?
Rent control is a subject which is raised frequently by politicians, usually when they have something to gain from courting generation rent, however is it beneficial or could it be catastrophic to the market?
All agents are obligated to be part of a redress scheme, unless they are in devolved nations, e.g. letting agents in Scotland where the local council will investigate a complaint. The two redress schemes which are currently servicing the property industry are: The Property Ombudsman (TPO) and The Property Redress Scheme (the PRS). Both are in place to provide alternative dispute resolution to avoid the need for court action to be taken should the consumer have any issue with property agents.
Deposit releases are one of the biggest area of attrition between landlord, tenant and agent. Sometimes it seems both parties are destined to dispute the amount and the finger is pointed at the agent as the person in the middle, and this is hugely demanding on your time.
