Breaking news for landlords.

Breaking news for landlords.


The lettings landscape continues to change at a rapid pace with new legislation and developments arising and keeping landlords on their toes. Read on to find out what's new and how we can help you navigate these important changes.



<span style="font-weight: bold; font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif;">Zero Deposit Renting - </span><span style="font-weight: bold; font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif;"><span style="font-weight: bold;">S</span><strong>ecurity & Protection for landlords</strong></span>

 

Tenants pay the equivalent of one week’s rent for a Zero Deposit policy, which is non-refundable and gives you effectively the same cover as a 6-week tenancy deposit. Tenants remain fully accountable for any damages or unpaid rents.

 In the event of any financial loss or damage due to you, this is settled by the tenant or if they dispute the claim the evidence is sent for expert evaluation. If found in your favour, we settle the claim with you and recover the costs from the tenants directly, along with any recovery costs. Non-payment by the tenant at this stage may impact on the tenants credit history.

 For more information about the benefits of choosing zero deposits, please see the guide for landlords on our website here



<span style="font-family: 'Century Gothic',AppleGothic,Helvetica,Arial,sans-serif;">Guidelines for the June 1st Tenant Fees Ban </span>

 

The deposit taken and held against damages and/or unpaid rent will also now be limited to the equivalent of a maximum of 5 week's rent and deposits taken will still need to be registered with one of the government approved schemes. 
It will not be possible to increase the deposit regardless of the tenant's situation such as owning a pet or if there is a concern about ability to pay. The media are predicting that landlords will pass on any increased costs (such as having to pay for the inventory check in and check out) to tenants via increased rents so that letting their properties continues to be viable. However, this could have consequences for tenants with longer term tenancies who would end up paying more whilst proving advantageous to those tenants who wish to move more regularly. ARLA has helpfully put together guidance, legal documents, fact sheets, videos and tips to help deal with the loss of income here

Northfields is a family run company and will always remain fair and transparent with its charges and costs. These are listed in our branches and can be found on our website here.

 

If you need more information or would like to chat further about any aspect of lettings please do contact one of our lettings team.



<span style="font-family: 'Century Gothic',AppleGothic,Helvetica,Arial,sans-serif;">Homes (Fitness for Human Habitation) Act Now in Force</span>

 
Now that the Act has come into force, landlords with properties let on existing tenancies have until 20 March 2020 to comply. For any new tenancies starting on or after that date, the Act will apply immediately.
 
The government recently issued guidance for landlords on the subject.
 
 




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