CMP is mandatory for every company that acts as an agency in property, including chattels auctioning, which handles client money or uses a third party to oversee client money.
With private rents rising across England and Wales, it’s no surprise that rent arrears have become an increasing feature of tenancy deposit disputes. Though formal deposit disputes remain rare, affecting fewer than 1% of Tenancy Deposit Scheme (TDS) tenancies, the most recent TDS data shows that claims for unpaid rent appeared in over one in five deposit disputes. While not as frequent as cleaning or damage disputes, rent arrears cases can be more complex, often involving misunderstandings, poor communication, or a lack of proper documentation.
The current phase of the scheme will close for applications at the end of March 2023, and the Welsh Government will be introducing a new price cap of £300,000 from April 2023, in line with increases in average house prices in Wales.
The Scottish Government is rolling the Housing (Scotland) Bill through the Scottish Parliament which will introduce new permanent rent control and adjudication regulations. However, between 31 March 2025 and the enactment of the Bill, there will be a period when rent assessments revert to pre-Cost of Living Act terms.
The Ministry for Housing, Communities and Local Government (MHCLG) has responded to recommendations made by the Competition and Markets Authority (CMA) based on their year-long investigation of residential construction in England, Scotland, and Wales. Ministers agree that reform is essential to ensure the market delivers homes that the country needs and have committed to creating a long-term housing strategy with the buy-in of local authorities, developers, landowners and investors.
The Grant launch, which coincides with the end of the ban on evictions in Wales today, 30 June, will be available to anyone who has built up more than eight weeks’ arrears since March 2020.
We responded to the Welsh Government’s consultation on improving building safety by supporting the proposed measures. However, we also urged them to consider the height of buildings, occupation and material used to build property to determine fire risk rather than simply the number of dwellings.
Propertymark contributed to an event jointly organised by CEPI (European Association of Real Estate Professionals) and the European Parliament’s URBAN Intergroup to discuss short-term rental platforms and their impact on the real estate sector, and cities in Europe.
On 6 September 2022, the Scottish Government set out plans to tackle the cost-of-living crisis that included emergency legislation to introduce a freeze on rents and a moratorium on evictions for both the private and social rented sectors.
Every two years, the European Commission assesses the risks of money laundering and terrorist financing affecting both the EU internal market and cross-border activities. As a member of CEPI, the European Association of Real Estate Professionals, we work with them to provide the perspective of the UK market.