Property Management and Lettings 2019
As January is virtually over, we all feel that it has been a very long month – it has!!
This week it was announced that landlords and letting agents will be required to adhere to more legislation, with 2018 seeing the busiest time for agents and landlords with new legislation.
The housing minister, Heather Wheeler has announced that rented homes will soon have to have 5 yearly electrical safety checks. We always knew this would be coming and we do welcome it, as it will make sure all rented homes are in a safe condition. It’s just at the wrong time for landlords, with all the extra expense and legislation they have had recently.
It should have been made mandatory some years ago! As it may well put more landlords off in the future from investing in property, which in turn will increase rent from too much demand and not enough supply of property.
We currently have to oblige to section 11 of the Landlord and Tenant Act 1985, for keeping electrical installations in good repair and proper working order in residential lettings . Landlords may also be liable for the injury of a tenant caused by defective wiring under the Defective Premises Act 1972. AGT always make sure properties are safe and habitual, instructing a qualified contractor to assess if any doubt. Click here to see ‘what we do’.
60% of AGT’s portfolio does have electrical safety certificates on the properties, due to properties being in the selective licensing area, HMO’s and peace of mind for landlords. We will be discussing with our landlords over the next month or so about having the electrical safety checks carried out ASAP, rather than waiting until the last minute due to the risk of electricians being fully booked and costs rising.
Also this week it was announced that any Private Landlord(s) (Self Managing) will need to be members of a redress scheme. Fines of up to £5000 will be given out if they fail to do so. A redress scheme will be available for when a complaint isn’t dealt with so tenants will be able to report any issues to the scheme provider and action will be taken.
Lettings agents legally had to become a member of a redress scheme back in October 2014. AGT are members of the Property Ombudsman. Private landlords will either chose to pay the yearly fee and carry on or they will use a reputable letting agent as they will have membership.
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