To Be or Not To Be - A Property Manager
05 Mar 2019
There are hundreds of Acts of Parliament and sets of regulations governing the private rented sector with regular updates being implemented. These include, amongst others, the recent Article 4 Direction (whereby planning permission must be obtained before letting a new HMO), extension of mandatory HMO licensing, the prescribed wording for Section 21 notices and deposit registration, provision of the How to Rent Guide (prior to viewings) and new legal obligations regarding smoke and CO detectors. Non-compliance can result in prosecution. Leydon Lettings is a member of ARLA. This strict regulatory body provides training, examination and CPD to ensure we protect our tenants’ safety and our landlords’ liberty.
The most recent changes include the extension of mandatory licensing. By the 01st October 2018, Houses in Multiple Occupation (HMO) with five or more people, regardless of storeys, must be licensed with the council. Whereas today, there are only a few hundred Canterbury Licensable homes, this number will increase into the thousands – costing you as a landlord, £1000s.
Extending HMO Licensing requires landlord compliance. As a prudent student landlord, you will no doubt be considering the 2018-19 academic year and securing tenants in a competitive and complex industry with increasing legislation.
All this has come at a time when Canterbury has a surplus of student homes, with more university, purpose-built and private rented sector accommodation. Students are delaying when they choose to reserve accommodation, often securing tenancies late in the year to take advantage of shorter tenancies and cheaper rent.
With over 30 years’ experience and members of leading regulatory bodies such as ARLA Propertymark, Leydon Lettings can offer advice to Canterbury landlords to help secure an early let. Whether it’s property improvements, marketing strategies or advice on legislation such as the extension of mandatory licensing, if you have a lettings question, let us provide the answer.