Another week and another Newsround, let’s see what has been in the news this week.
Landlords costly expenditures revealed
An interesting survey out this week by Together, a mortgage lender, details the most costly mistakes that landlords regret, with 18% of landlords underestimating how much wear and tear a tenant can cost during the term of a tenancy along with being unprepared for the high costs of ongoing maintenance and repairs.
With than in mind 11% of landlords regretted not taking a higher deposit to offset any damages in the future, and surprisingly 9% regretted letting to a tenant with a pet as being their most expensive mistake.
The research also highlighted that 16% of landlords who failed to vet their tenants properly lost money in the long term. This also highlighted that there 15% of landlords failed to have a financial ‘safety net’ as a buffer along with inadequate insurance.
On the positive though 62% of landlords see the Renters’ Rights Bill as a positive event along with the new ombudsman for tenant/landlord dispute handling.
Renters’ Rights Bill amendment
A new amendment has been put forward by Baroness Taylor that would allow landlords to proceed with a claim for possession, section 8 or section 21, if they have served notice before the Bill’s enactment but still need a court order to execute the eviction. This is needed to enable a court order to be issued within three months to enable possession to happen.
A spokesperson for the NRLA said
While hundreds of amendments have already been proposed, that fact that this adjustment has been put forward by Baroness Taylor, the Housing Minister in the Lords, means it will almost certainly be included in the final version of the Bill.
The Renters’ Rights Bill will be heard again on April 22nd in the House of Lords.
90% of cannabis is grown in rental properties
Northumbrian police are trying to tackle the rise in cannabis growing in rented properties and are advising landlords to carry out regular checks on all their rented properties.
This follows a large house explosion that killed two people, one a seven year old boy due to butane gas canisters in a drug making lab within a private property.
The region’s police and crime commissioner, Susan Dungworth said
Landlords and letting agents have a responsibility to check on their tenants and be aware of what their properties are being used for. I’d encourage landlords to regularly visit their properties and make sure nothing suspicious is going on. Make sure you carry out background checks on those you want to rent to.
Obvious signs are covered windows, lots of moisture, bright lights on continuously, additional pipework and electrics tampered with. The commissioner added that intelligence-sharing between landlords and the wider community greatly helps the police in breaking these drug farms.
Illegal activity is just one of the reasons why regular inspections of rented properties are essential. Find out more here.
Significant decrease for ‘bills included’ tenancies
The market has seen a significant drop to 16% in the number of rental properties currently being advertised as ‘bills included’. This is thought to be due to the continual increase in cost of living expenses and the fact that landlords were losing money on these types of tenancies. Interestingly, tenants are less keen on ‘bills included’ with only 13% currently listed as having found a tenant.
West Midlands is the area where ‘bills included’ is the highest with 34% of all current listings offering this whilst in the south east only 21% are offering and inclusive rent.
Marc Bon Grundherr of Benham and Reeves said
Tenants renting with a more short-term plan in mind often prefer the convenience of a bill-included rental as it prevents them from having to start and end multiple contracts within a shorter period of time.
Snippets
The DPS launches dispute videos to help landlords
Rise in the number of landlords looking to end rent-to-rent agreements, claims solicitor
Delay on clearing mouldy council homes backlog
Greens say tenants should grow plants & veg – without landlord consent
See also our Quick News Updates on Landlord Law
Newsround will be back again after Easter.