How To Solve The Energy Crisis At A Stroke
Soaring oil and gas prices are crippling western economies and ordinary people are suffering. But there is a way western leaders can end the energy crisis in a heartbeat…watch video.
ECB Warns Of Housing Market Bubble
The European Central Bank has warned this week that a housing market correction – caused by faltering economies, inflation and the Ukraine war – could put banks at risk of defaults and hit low-income families.
Windfall tax to help people with fuel bills announced
In the UK, Chancellor Rishi Sunak has announced a £5 billion package to ease the burden on soaring energy bills for millions of households. The aid will be funded by a controversial ‘windfall tax’ on energy companies which have profited from record oil and gas prices.
Every household will receive £400 through their energy bills and the poorest will also receive £650 to help with the rising cost of living.
US Fed is planning more restrictive measures to curb inflation including higher interest rates.
Letting Agents could be putting landlords at risk of prosecution
Most letting and managing agents do a good job for landlords who prefer to keep their buy-to-let properties at arm’s length.
However, not every estate agent keeps up with the raft of changes in legislation impacting property rentals in the UK, and a few are completely unaware of the current requirements.
There are currently 160 pieces of legislation directly and indirectly affecting tenants and buy-to-let landlords in the UK!
The Housing Act and Landlords and Tenants Act are the two main laws governing buy-to-let renting, but they overlap with many other regulations which can easily trip up landlords who reply on their letting agent to ensure they are acting within the law.
In most cases the landlord is ultimately held responsible when things go wrong. This can lead to massive fines, penalties and even imprisonment.
In my experience, I found that you should never totally depend on an estate agent to keep you legal when dealing with tenants – because they often do not know all the rules and procedures, which will put me at risk of prosecution or failure to get possession in the event of a dispute or rent arrears.
For instance, failure to supply a tenant with required documents such as the How to Rent Guide and the Prescribed Information could result in a judge refusing to grant possession should the landlord need to resort to eviction.
I have been shocked to find that many established agents did not even know what the Prescribed Information was!
This could be due to lack of training, but could also to down to laziness and just not bothering to carry out any CPD (Continuous Professional Development).
This is particularly prevalent in one-man-band ‘mom and pop’ agents where, unlike national and franchised companies, the owner operator is too busy to research all the changes or attend courses.
Franchisees must undergo strict training to start trading, as well as ongoing training and CPD. They are also supervised and have access to support and systems which keep them on the right track.
Estate Agents do not have a great reputation in Britain, ranking up there with politicians and lawyers! The poor service I have received over my 30 years as a property investor from estate agents has prompted me to launch my own estate agency business under the excellent Open House Estate Agents franchise banner.
The training and support for my team and I has been outstanding, and I will be officially launching in June.
FREE TRAINING – PROPERTY INVESTING SECRETS
This Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.
Live training Wednesday 1 June 2022 at 7pm UK time.
CLICK TO JOIN THE LIVE ONLINE EVENT
JOIN ME FOR UK PROPERTY TALK SAT 28 MAY 2022 10AM
Number of rental properties growing in the UK – click here to register
New research shows the number of UK rental properties has grown by over 1.1m in the last decade, placing the UK in the top 10 globally when it comes to the balance between homeownership and renting.