Latest property news
Renters' Rights Bill faces strong challenges in the Commons
The Rt Hon Angela Rayner MP reiterated the UK Government’s determination to fast-track its housing reform as she presented the Bill for its Second Reading less than a month after its introduction. A drop in the supply of homes to rent, gridlock in the justice system, and the possibility that rents will be inflated were among the key concerns MPs interjected throughout, with Rayner dismissing the potential unintended consequences of the Bill.
Five actions letting agents should take when a tenant reports a problem
When a tenant reports an issue at a rental property, the response of letting agents is vital for maintaining positive relationships between everyone involved. Quick and effective handling of these problems not only keeps tenants happy, but also helps prevent possible deposit disputes, which can cause stress and delays at the end of the tenancy. Here, the Tenancy Deposit Scheme provides guidance on how to manage tenant-reported issues at the property, fostering good relationships and avoiding deposit disputes over repairs.
Fears that suspicious payment powers could delay property transactions
From the end of October 2024, UK banks will be able to hold payments for up to four days whilst investigations of potential fraud are carried out, raising concerns that the large transactions needed for property purchases may be incorrectly blocked. The change follows stricter rules on fraud compensation which came into force on 7 October 2024, meaning that banks must refund scam victims up to £85,000 within five days.
