Profit pendulum swings in favour of lettings
The pendulum of profit power is swinging in favour of lettings, despite what you think about the Tenant Fee Ban. Up and down the country, sales departments are stagnating. Sales goes in cycles – peaks …
The chaos of Christmas may have stopped you seeing the news regarding an amendment to the Landlord and Tenant Act 1985. The Homes (Fitness for Human Habitation and Liability for Housing Standards) Bill gained Royal Assent in December 2018, and represents a change that will see tenants able to sue landlords over substandard housing.
The new Act of Parliament, which is expected to come into effect as early as 20th March 2019, will give tenants greater reassurances that any property they choose to rent will be fit for habitation, safe and liveable. It is hoped the threat of being sued will encourage landlords to keep their properties in a better condition, as well as prompt letting agents to only take on houses and flats that meet strict standards.
Offering and maintaining habitable property is essential for the overall image of the private rented sector but it will require a greater involvement from property managers, who should implement a meticulous inspection and maintenance programme. ARPM would be happy to devise and implement a maintenance/inspection schedule for your agency that will ensure the landlords you represent are protected and tenants kept happy.