LandlordZONE Newsletter - HMO Licensing - Blocks of Flats

December 2006 - Issue 14

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Season’s Greetings to everyone - I hope it’s been a successful year for you if you are a landlord or a letting agent and that next year’s even better for you!

We return again to the issue of landlord licensing and HMOs for this December issue of the LandlordZONE® Newsletter.

Although the majority of landlords will not be affected by licensing, there’s still a lot of confusion around - not just among landlords - it spills over to officials as well. That’s because the rules are so complex.

For instance, if you let out a flat in a converted house, it could be affected and therefore it is worth knowing how the Housing Act HMO regulations could still affect you.  

Successful landlording is all about learning and learning lessons, constantly. What makes the job interesting is that every situation is different - you’re dealing with people and with a highly complex legal area.

You can learn a lot from other people’s mistakes as well, so take a look at our Forum from time to time - it’s gone from strength to strength and with well over 3,000 members it’s now by far the busiest landlord Forum in the UK.

With all the new legislation coming in during 2006 it’s getting more of a challenge to manage your properties well and stay within the law - but this you must do.

If you are going to manage your own properties you need to make yourself aware of the rules and apply them where necessary - hopefully we are helping you with this.
Is there any end to this property bull market?

Prices are still climbing steadily as we write, and the commercial property market has had a bumper year, topping a 20% total return.

But, with the governor of the Bank of England giving warnings about world wide over-valuations of assets, perhaps it’s time to tread carefully going forward.

Tom Entwistle, Editor.

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

Landlord’s Insurance from Coverlet

Landlord’s Insurance from Coverlet

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Ten Top Legal Tips For Landlords

There is an increasing amount of new legislation that is continuing to come into force regarding the private rented sector. Other than major changes and new legislation there are many other rules and regulations that a landlord must follow when letting out a property. Below is a list of 10 top legal tips for landlords who are or planning to enter into the rental market.

1. Make sure you that you have at least the basic knowledge of your legal requirements and responsibilities before letting out your property.
2. Make sure that your property is neat and tidy and in good state of repair, before letting it out. Also if the property is furnished, that the furniture/electrical items comply to the relevant legislation.
3. If there are gas appliances in the property. You must get a gas safety certificate from a CORGI registered plumber. This certificate must be renewed every 12 months.

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Family Renters are Back - And they are not on Benefits!

It’s not just single people and couples in their 20s or 30s who are renting.

A new sector of tenants is coming through – working families – and this is having an impact on the whole residential property market says David Lawrenson of buy to let consultancy www.lettingfocus.com and the author of the UK’s top selling buy to let book.

David Lawrenson says, “Recent research from the Alliance & Leicester has found that nearly a quarter of families are now renting or still living with their parents (See note 1)

And for over half of these, this is a lifestyle choice – in other words they are renting because it suits the way they live, not because they can’t afford to buy.

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