Property industry news
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Results from a recent online survey has shown that pet damage is extremely common in properties where landlords rent to tenants with pets and the costs are difficult to recoup. With the demand for pet friendly homes continuing to increase, the UK Government must now understand the costs involved for landlords and implement rules that support the sector.
James Munro, Head of National Trading Standards Estate and Letting Agency (NTSELAT) highlighted to 500 agents at the NAEA Propertymark National Conference on 30 June 2022, that a cultural change is needed to make sure agents understand the importance of gathering information before a property is listed so potential buyers are proceedable buyers.
Propertymark is announcing a major initiative to expand consumer understanding of Propertymark Protection. A brand-new partnership with Move iQ, founded by property expert and TV personality Phil Spencer, will provide a platform to educate consumers on the risks of using an unqualified agent.
Enacted in England and Wales on 28 June 2022, the Building Safety Act 2022 gives many leaseholders, for the first time, legal protection from unfair bills to make their homes safe.
Covid recovery legislation has passed its final stage and will come into force in Scotland from 1 October 2022, meaning increased protection for private rented tenants facing eviction
The Leasehold Reform (Ground Rent) Act 2022 takes effect on 30 June 2022, ending ground rent for most new long residential leases granted for properties in England and Wales.
PRS REPORT: The great rent rise continues. While we have seen an increase in availability of properties to rent since February, demand from prospective tenants has also risen.
HOUSING REPORT: Despite recent murmurings of an impending slowdown in the property market, figures our agents reported for May appear to show the buoyant market continues. Perhaps as a result, lengthy waiting times from offer to exchange remain.
The UK Government is seeking views on proposals to make landlords legally obliged to make reasonable adjustments to common areas of rented properties: outside areas, entrances, hallways, landings, and stairwells, more accessible for disabled people.
There is now a greater reliance on digital services for agents, this makes it even more important to review and invest in cybersecurity to manage the risk of potentially disruptive cyber incidents.
Michael Alan Sears and Mish Liyanage join the specialist skillset of the current Propertymark Board following a rigorous election process to help drive forward our vision and business strategy. New Presidents of the lettings and sales divisions also take their posts from today, 17 June 2022.
The UK Government has published a Fairer Private Rented Sector White Paper that claims it will redress the balance between landlords and 4.4 million tenants in the private rented sector (PRS).