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Law Firm offers Free Commercial Advice Workshops

23/5/2013 – 7:21 am

Law firm Hart Brown’s 9th Annual Economic Forum will be held on Thursday 20 June 2013.

Prior to the main event, two free workshops will run aimed at business owners, leaders and board directors, one on the subject of succession planning for a business, and the second on advice for commercial property landlords and agents.

When setting up a business, the last thing anyone considers is how the business will continue in the event of one’s death. To ensure that the business continues to run successfully in this event, it is crucial to have succession planning in place. Aspects to consider include how much will the taxman get, and if a business partners dies, will one of their relatives be calling the shots?

The workshop Succession planning during your lifetime and on death , hosted by Hart Brown’s partners Nigel Maud, Shaun Parry-Jones and Chris Thurlow, will provide some real life case studies highlighting how this topic can affect any business. Other topics to be considered will be: making business provisions in wills, inheritance tax including business property relief, cross option agreements and the transfer of business assets generally.

The second workshop, Commercial Property: for landlords and agents, hosted by Hart Brown’s partner Roderick Campbell, will offer the latest practical advice on retaining existing tenants and attracting new ones, and will cover topics that include Energy Performance Certificates, Business rates relief for empty property, Dilapidations Protocol, Strategies for rent reviews in the recession and Tenant Insolvency.

The workshops will be held at the University of Surrey, and registration will open at 3pm. Places are limited to 20, so booking is essential.

More information can be found at the Economic Forum web site http://www.economic-forum.co.uk/workshops.html and places can be booked by email at economicforum@hartbrown.co.uk.

Hart Brown, a leading law firm with offices throughout Surrey and in London, has been offering a full range of legal and financial investment services to businesses and individuals for the past 90 years. With 15 partners, more than 110 staff, six offices and a reputation for delivering high quality service, Hart Brown is committed to building long-term relationships with its clients.

In particular, the firm puts a great emphasis on regular communication with clients, as well as the need for efficiency and value for money in order to deliver a high-quality service. Hart Brown currently operates from offices located in Cobham, Cranleigh, Godalming, Guildford, Wimbledon Village and Woking. For more information please visit www.hartbrown.co.uk

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Landlord Action Celebrates Success in Bank of Ireland Decision

22/5/2013 – 2:14 pm

After nearly three months of campaigning, and encouraging landlords to complain, Landlord Action is delighted to hear that the Bank of Ireland has reversed its previous stance on mortgage charges for its existing Buy to Let clients.

Following the Landlord Action campaign the bank has written to the 1,200 borrowers who were threatened with an increase in their mortgage rate to advise them that they will not face the change after all, following a review of customer complaints.

Landlords will be particularly relieved as some buy-let-let customers were facing rises of three times their existing monthly payment.

Justin Selig, Solicitor and Partner at Landlord Action, who has been instrumental in driving the campaign to overturn the bank’s rate hike, made the following comment:

“The Bank of Ireland has reversed its mortgage rate increase for over a thousand borrowers and it’s all because we all complained. This is landlord power and this should be a lesson to all landlords. If nobody had complained they would’ve just carried on, but we all united and we won. Lenders have the power to try it on and then wait to see what happens. However, under the regulations, the banks are obliged to look into every single complaint so their decisions must always be challenged. We stand by our own advice – if you are being unfairly treated, complain, complain, complain and the BOI decision is proof that it can work.”

Mr Selig of Landlord Action is still looking into the cases for the remainder of the affected borrowers but would like to thank all those landlords who came forward and put their names in to a group action. “It’s because of people like them that the bank has backed down” he concluded.

Landlord Action is a UK based organisation helping landlords and property professionals deal with problem tenants.

Founded in 1999 as the first ever fixed-fee tenant eviction specialist, they revolutionised this area of legal practice. They have acted in 20,000 problem tenant cases and are considered the authority in this field. Unlike solicitors, Landlord Action will not act for tenants, only landlords and property companies.

Landlord Action run a free advice line to help landlords and property professionals understand their rights: 0333 240 9767
www.LandlordAction.co.uk

Paul Shamplina is one of the key founders of Landlord Action with 25 years experience in the legal field. He has previously worked as a legal clerk, private investigator, debt collector and certified bailiff.

He has appeared regularly on TV and radio and lectures across the UK at landlord seminars and events and still works full time in the office, heading up the team of advisers.

Paul believes passionately in the rights of the landlord and is always available for comment on any landlord/tenant matters.

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Buy to let insurers won’t pay for cannabis farm damage

22/5/2013 – 12:15 pm

A buy to let investment can go up in smoke if a drugs gang moves in and turns the home in to a cannabis farm.

Landlords have two major linked problems if crooks start growing drugs in their homes – fires that destroy the property and a little-known insurance exclusion that can leave the investor thousands of pounds out of pocket.

The threat is a real risk for buy to let investors.

Last year, police dealt with nearly 16,500 cannabis cultivation offences and insurer Aviva reported claims for damage from growing cannabis soared by a third – the highest ever increase.

Growing the drug often leads to massive damage in a buy to let home.

The farmers bypass electricity meters and set up ramshackle cabling to supply banks of overhead lights and set up hydroponic beds for the plant.

The weight of water and soil can damage floors, leading to collapse.

Poor electrics often lead to fires.

Then, when landlords try to claim the cost of repairing the damage from their buy to let insurance policies, they find the small print in the terms and conditions excludes pay outs arising from criminal activity.

The insurers fall back on excuses like the landlord failing to properly reference tenants or not checking properties to make sure the use is in line with the terms of the tenancy agreement.

Landlords are also urged to never turn a blind eye if they suspect criminal activity at their buy to let properties.

David Salusbury, chairman of the National Landlords Association, said: “Once police have cleared a property, the real challenge begins. Landlords must ensure that their insurance covers subsequent damage as many policies are rendered invalid when criminal activity has taken place in a property.

“Landlords can also be criminally liable if they are aware illegal activity is taking place and do not report it to the police.

“Never challenge the tenants. If suspicious, call the police. A false alarm is better than no alarm.”

The NLA says cannabis farms are often easy to spot because of the strong smell coming from the house, blacked out windows and heavy condensation.

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Landlords warned letting ombudsman won’t protect rents

21/5/2013 – 4:34 pm

Landlords should not believe a change in the law requiring letting agents to sign up with an ombudsman to deal with complaints protects their cash, says the British Property Federation (BPF). Read More »

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Belvoir Lettings buys out Redwoods

20/5/2013 – 3:08 pm

Dorian Gonsalves, CEO of Belvoir Lettings has announced that, in line with the company’s ambitious expansion programme, Belvoir has acquired four lettings agencies based in Basingstoke and Andover, with over one million pounds of lettings income.

The acquisition is of Claygold Ltd (“Claygold”), which trades as Redwoods from one branch in Andover and three branches in Basingstoke. The lettings business of Redwoods will be sold on to two existing Belvoir franchise businesses in Basingstoke and Andover respectively, which will significantly increase the size of these two offices.

The estate agency business within Redwoods will continue to be operated under that separate brand. The vendors, who have worked in the business for over 20 years, are now retiring.

“We are delighted to be announcing the acquisition of these four agencies,” said Dorian. “This was a fantastic opportunity for Belvoir and will substantially increase our network turnover and addressable market. The transaction opens up opportunities in South England and the Home Counties – a key strategic territory in our growth policy and a major step in our acquisition plans.

“Following the reorganisation, Belvoir Basingstoke will become one of the largest franchises in the Belvoir network. Belvoir Andover will also achieve substantial size, acquiring £140k of income from lettings.

“We wish Phil Pinkney and Greg Greatbach of Belvoir Andover, and Mike Jones and Andrew Lowery of Belvoir Basingstoke every success with their acquisitions, which are due to complete in the near future.

“In line with our policy of expanding Belvoir’s geographical footprint, our dedicated acquisition team, which is based at Central Office, continues to explore a number of exciting opportunities to expand our network.”

Commenting on Belvoir Andover’s acquisition, Phil said: “We originally bought Belvoir Andover in 2005 and it has always been our priority to let properties in the most efficient way, achieving the very highest returns for landlords. We are looking forward to working hard on behalf of our new landlords and tenants and providing them with Belvoir’s first class customer service.”

Mike Jones and Andrew Lowery launched Belvoir Basingstoke in 2009. Mike, who is also an investment landlord, said: “It has always been our intention to expand and make Belvoir Basingstoke the largest and best lettings agency in the area. Read More »

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Online letting agent rapped over misleading call charges

16/5/2013 – 12:45 pm

Advertising watchdogs are warning landlords and tenants about online letting agencies charging callers premium rates without revealing the charges. Read More »

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HMO landlords fined £5,000 in council crack down

15/5/2013 – 3:22 pm

Two Wrexham landlords running shared houses have faced magistrates for flouting property licensing laws. Read More »

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Scottish Landlords Facing Fines

15/5/2013 – 8:34 am

Thousands of landlords across Scotland could face fines as the deposit scheme deadline comes and figures show worryingly low sign up

Under the tenancy deposit protection scheme, all deposits must be registered with a scheme in Scotland by today (May 15, 2013)

On the final deadline day for sign up to a scheme, Malcolm Lindo, Managing Director of SafeDeposits Scotland warned landlords their time was now up and urged them to get in touch for help if they hadn’t signed up.

Mr Lindo said: “The clock has stopped for landlords and agents in Scotland. The deadline is now and if you let a property that is eligible for the scheme, are not signed up by the end of today, you could face legal action in the future. (1)

“Based on the latest Scottish Government figures, we estimate there are up to 56% of tenancies eligible for taking a deposit where a deposit has not yet been paid into a scheme. That’s worryingly low at this late stage and means thousands of landlords could face legal action from their tenant in the future.” (2)

He added: “It is a legal requirement but also this scheme benefits both landlords and tenants. Feedback from landlords has been positive so far. Signing up helps to resolve any disputes that could arise at the end of the tenancy, fairly, quickly and impartially. It’s a win-win situation.”

SafeDeposits Scotland, the leading provider of the tenancy deposit scheme in Scotland, the only scheme based in Scotland and the only not-for-profit. (3)

The Legislation Highlights:

1. Under the tenancy deposit protection scheme, all deposits must be registered with a scheme in Scotland by the 15 May 2013. ‘Eligible deposits’ covers those tenancies to which the landlord registration provisions in the Antisocial Behaviour etc. (Scotland) Act 2004 apply. Therefore, if a landlord is required to register with a local authority, and takes a deposit from their tenant, that landlord must also comply with the Tenancy Deposit Regulations.

2. Figures from Scottish Government are to the end of March. The figure of 56% has been calculated by taking the Scottish Government figures of the number of deposits submitted to a scheme at the end of March as 129,164, and comparing it to the potential number properties which will have a deposit using the total number of approved properties for landlord registration in the same time frame (291,190).

3. Unlike other tenancy deposit schemes in Scotland, SafeDeposits Scotland is a not-for-profit organisation. Any surpluses generated will be gifted to a charitable trust, SafeDeposits Scotland Trust – a grant giving charity designed to promote education, training and best practice in Scotland’s private rented sector. SafeDeposits Scotland’s members are the National Federation of Property Professionals (NFOPP); National Union of Students Scotland (NUS Scotland); Royal Institution of Chartered Surveyors (RICS); Scottish Association of Landlords (SAL); Scottish Council for Voluntary Organisations; The Dispute Service (TDS).

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Minister backs SAFEagent Scheme

15/5/2013 – 8:20 am

Letting agents unite for second annual SAFEagent Awareness Week

Letting agents are uniting for the second national SAFEagent Awareness Week to remind consumers of the importance of choosing a letting agent which offers Client Money Protection.

Tenant protection has returned to the media spotlight in light of the recent 11th hour amendment to the Enterprise and Regulatory Reform Bill, making it mandatory for letting agents to belong to an ombudsman scheme, thereby giving landlords and tenants access to approved redress schemes.

However, the message from SAFEagent is that consumers’ finances are still at risk if the agent does not subscribe to a Client Money Protection Scheme.

John Midgley, chair of the SAFEagent steering group said: “While we applaud the Government’s recent move to tighten the regulation of letting agents, giving tenants and landlords the right to seek redress only goes so far. Let’s not forget that the recent changes to the Enterprise and Regulatory Reform Bill do not cover Client Money Protection, which means that if an agent were to abscond with a landlord or tenant’s money, they wouldn’t stand much chance of getting it back.

“To this end, the aim of SAFEagent remains true – to raise awareness among consumers of the importance of choosing an agent who is part of a Client Money Protection scheme. By working together as an industry we can achieve this and we urge all letting agents committed to professional standards and consumer protection to sign up to the SAFEagent campaign.”

More than 2,000 letting agents have now signed up to the SAFEagent campaign to signpost their commitment to protecting landlords’ and tenants’ finances. The Government has shown its support since its launch in September 2011.

Housing Minister Mark Prisk said: “Most tenants are happy with their letting agent, but a minority of rogue agents provide an unacceptably poor service, giving the whole industry a bad name. That’s why we will shortly introduce proposals that will require agents across the country to join approved redress schemes, giving landlords and tenants a clear route to resolve complaints.

“The industry-led SAFEagent campaign is also helping to raise awareness, giving landlords and tenants the confidence that their agent will protect them. I hope this SAFEagent Awareness Week will help many more landlords and tenants make a safe, informed choice.”

Key organizations in the industry including Citizens Advice Bureaux, Shelter, Ombudsman Services: Property, The Property Ombudsman, DPS, TDS, My Deposits and Trading Standards Institute have all allied themselves to the campaign. Key suppliers to the sector are also standing behind the campaign – for example, HomeLet, Imfuna and CFP Software have led the way in pledging their backing to it.

About SAFEagent:

SAFEagent – Safe Agent Fully Endorsed – is a reliable mark denoting firms that protect landlords and tenants money through Client Money Protection schemes. Set up ‘by the industry, for the industry’ and recognised by the Government, it is supported by Citizens Advice Bureaux, Shelter, Crisis, The Property Ombudsman, National Union of Students, My Deposits, OFT, the Trading Standards Institute.

All agents registered with SAFEagent are part of a Client Money Protection Scheme which reimburses consumers in the event of misappropriation of clients’ funds. There are several schemes in the sector operated by NALS, ARLA, NAEA and RICS to which agents voluntarily belong. The scope of these schemes varies and consumers should contact their agent for full details of the scheme of which they are a part.

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