Legislative chat in the rental sector
What is happening or may be likely to happen as we enter a new decade? There have been many legislative changes in the rental sector over the last few years, and this shows no signs of slowing down as we enter the 2020s.
Landlord Inventories: how important are they?
Landlord inventories are probably one of the most overlooked but important elements of a tenancy agreement. Donna Cheney, Head of Lettings, explains why.
Spring Statement Prediction
It has been indicated that the Spring Statement will simply be limited to an economic update and a response to the latest forecasts.
We are not expecting property to play a large role in the Spring Statement, however, we are expecting an update on the property tax regime. In the Autumn Budget 2018, Hammond announced that Lettings Relief would be limited to properties where the owner is in shared occupancy with the tenant. Interestingly, Royal Institute of Chartered Surveyors (RICS) has suggested that the move is causing smaller landlords to exit the market. When reviewing our business data, we have seen no evidence of this, suggesting that this is not the case in the North East and that the economic update will further clarify our findings.
Right to Rent scheme breaches human rights law
Rules aimed at preventing illegal immigrants from renting properties are “discriminatory” and breach human rights laws, the High Court has ruled. The “right to rent” scheme, which requires landlords to check the immigration status of tenants, was introduced in England in 2016. Judges said it would be illegal to roll it out in Scotland, Wales and Northern Ireland without further evaluation (for the full story please click here).
GFW Letting in the news
As reported in a number of North East business publications recently including Bdaily, BQ, North East Business Insider and North East Times, GFW Letting has doubled in size, following strong growth in the region.
The letting agent appointed a new Regional Operations Manager, Donna Cheney, who has developed the business steadily, and rapidly, since she came on board. Donna has grown the business by 18% and doubled its employees, creating a fully experienced, and highly regulated, specialist team of 10 property experts who work with landlords’ needs in mind. In the last year alone, the business has increased the number of properties under management by over 10%.
Commenting on GFW Letting’s success, Donna said: “As well a buoyant property market – now is a good time for landlords to purchase buy to let properties because the demand is so high – GFW Letting offers something a bit different to others in the industry. Our service is highly personalised and tailored to a landlord’s specific needs. We adopt a very customer focused approach which sets us apart from those larger agencies which are highly departmentalised, avoiding the pitfalls of intermittent service, and smaller, one-man band businesses who don’t have the manpower to provide a comprehensive, fully regulated service to a wide range of clients.”
The business has expanded its services across the region, with offices now in Alnwick, Barnard Castle, Wolsingham, Bedale and more recently, Newcastle City Centre. The City Centre location is brand new, and ideally located to help expand the agent’s professional landlord portfolio.
Donna added: “Regulation is a key concern in the letting industry, with many poorly regulated agencies putting landlords and tenants at risk. Regulation is a huge priority for us – we’re focused on ensuring all members of staff receive continued training and undertake specific exams so that they can meet regulation requirements. Recently, three team members have just passed their Propertymark Level 3 legislation exams. Very few agents do this, or provide continued training to their employees, but GFW Letting does, so that it can provide the best level of service it can.”