The LandlordZONE Journal – “LandlordLOG�

The LandlordZONE Journal – “LandlordLOG�
February 2006 – Issue 006

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The UK Housing Act 2004 involves one of the biggest changes for landlords for many years and most of its provisions will be enacted in April 2006. We continue this series on the Housing Act with a primer on the new Home Information Packs (HIPs) due to be introduced in June 2007.

This issue is wholly sponsored by Coverlet – one of the leading providers of insurance for the rental property market.

The pack is likely to require and include copies of the following documents:

• terms of sale
• evidence of title (ownership)
• replies to standard preliminary enquiries made on behalf of buyers
• copies of any planning, listed building and building regulations consents and approvals
• for new properties, copies of warranties and guarantees
• any guarantees for work carried out on the property
• replies to searches made of the local authority
• a home condition report based on a professional survey of the property, including an energy efficiency assessment

For Leasehold properties the seller will also need to provide:

• a copy of the lease
• most recent service charge accounts and receipts
• building insurance policy details and payment receipts
• regulations made by the landlord or management company
• memorandum and articles of the landlord or management company

Landlord’s Insurance from Coverlet
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Download LandlordLOG as a web page, or in Adobe .pdf format:
http://www.landlordzone.co.uk/BlogNews/newsletterFeb06.htm or
http://www.landlordzone.co.uk/BlogNews/LandlordLOGFeb06.pdf
The links to the journal are also posted at:
http://www.landlordzone.co.uk/BlogNews/newsletter-archive.htm and at
http://www.landlordlog.com/
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There’s certainly going to be plenty to keep landlords busy in the coming months. Whilst HIPs will affect everyone selling property from June 2007, landlords are going to be affected by: New HMO Regulations, mandatory and optional Licensing, the new Housing Health & Safety Rating System (HHSRS), the Tenancy Deposit Scheme (TDS) and Empty Dwelling Management Orders (EDMO). Within a couple of years landlords will be required to have Energy Efficiency Certificates for their properties.

In addition, Land Registry changes will mean every lease over 7 years will require a lease plan to be registered.

All of this will create a lot of work but some marketing opportunities for many.
Whilst increasing regulation is the “way of the world� in developed nations, and this can lead to efficiencies when coupled with new technology, there is also the danger that all this can work against the consumer long-term, as we’ve seen before—Editor.

Tom Entwistle - Editor of LandlordZONE will be giving a seminar on “Managing Tenants” at the Homebuyer Show in the London Docklands (Excel Centre) on Saturday the 18th of March at 10.45am - see Seminars
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