Support, Advice and Experience within the Property Market

Residential Lettings Market 2015

From Robert Ulph on January 1, 2015

Happy New Year and welcome to my Lettings and Residential Property management column, which every other week will give you greater insight into the residential letting market. I am the Eastern Regional representative for the Association of Residential Letting Agents (ARLA) and part-owner and Managing Director of Pennington and having worked in the Lettings & Estate Agency industry for the best part of 25 years; over this time I have seen the industry has transformed beyond recognition with so many changes in legislation and government policy.

The private rented sector is now the largest residential sector for those who do not want or are unable to buy their own homes. The private rented sector is actively being promoted by the Government who see it as one of their main strategies to overcome the chronic housing shortages we are experiencing in this country now and into the foreseeable future.

With this focus on the expansion of the private rented sector comes an opportunity for private landlords to benefit the investment opportunities; however, it’s not always easy, having met so many Landlords and buy to let investors over the years, I am always surprised about the poor information many people can receive about investing in and letting property.

I hope therefore that this new column will be of assistance to you as landlords or prospective property investors and help to steer you through the ever-increasing issues and legislation that arise.

I will touch on many topics over the coming weeks and months, looking at the intricacies of the Tenancy Deposit schemes and how such rulings such as the Super-Strike case can affect landlords. I will give you tips on how you can and need to protect yourselves from unscrupulous solicitors (offering their services on a no-win no-fee basis) acting for tenants to taking advantage of loopholes in the law that could cost you thousands of pounds.

I will look at the issues surrounding legionella and why, as a landlord, you should be aware of this, along with gas safety regulations, electrical installation reports and the new Private Rented Sector and the Consumer Rights Bill.

I hope that some of this information will be beneficial and informative as all these issues affect you as landlords; if you employ a good ARLA licensed agent you should already be aware of many of the these issues, but non-compliance can lead to landlords finding themselves in court with a hefty solicitor’s bill to pay.

As the regional representative for ARLA I keep up to speed with all the changes and will endeavour to pass the relevant information over to our clients and readers so please do not hesitate to contact me if you have any questions that you would like answered, I am always happy to discuss any issues you may have.