Post-COVID, the landscape for landlords and lettings business owners shows further regulation and tightening of the rules.
The latest likely squeeze on landlords comes from the Minimum Energy Efficiency Standards, which are expected to require a minimum EPC band C certificate by 2030.
Also, the Renters’ Reform Bill is back on the agenda with the recent Queen’s Speech confirming the government’s intention to ‘enhance the rights of those who rent’.
This will include measures to be proposed in a White Paper due this autumn, with legislation to enter parliament soon after. This is expected to include:
- Abolishing Section 21 – so-called ‘no fault’ evictions – and improving security for tenants in the private rented sector, as well as strengthening repossession grounds for landlords under Section 8 when they have a valid cause.
- Proposals for a ‘lifetime’ tenancy deposit that eases the burden on tenants when moving from one rented property to the next.
- Reforms to drive improvements in rented accommodation. This includes well-targeted, effective enforcement that drives out criminal landlords. This could include a national landlord register and requiring all private landlords to belong to a redress scheme.
- A set of measures to hold “bad landlords” to account so they deliver safe and decent housing to tenants, without penalising good landlords.
- Improving and reforming the court possession process to make it quicker and easier for both landlords and tenants to access.
But overall, as landlording gets tougher, you may need to find new ways to manage two key tasks better than before:
- Manage tenants expectations by providing a service in line with government expectations, and even better.
- Reduce expenses by finding more cost-effective services and partners.
We regularly hear from landlords at our parent company All services 4u and one of the big questions is ‘how many more changes are there going to be and will they cut into my margins?’.
It’s a tough question to answer but in all probability, this is going to happen.
But there is one thing that we are sure of – landlords must find ways to protect themselves against these changes and do it in the most cost-effective manner possible.
And because our clients keep on asking us for help, we created the Total Asset Protection Plan. It’s a ‘one-stop shop’ that can handle all your maintenance headaches for a fixed cost per month.
Our plan takes that a step further. With TAP not only is your boiler covered, but also the electrics, locks and many other features of a property. What’s more, you will also have your Gas Safety certificate and EICR electrical check costs included.
For a monthly fee, all of your maintenance costs are covered and, given all of the legislation changes, and the fact that landlords are now treated as ‘service providers’, your life would be made much simpler. No more panicked calls from your tenants anymore, or tough conversations.
Let the maintenance professionals take care of these conversations and serve as the middle person between you and your tenants.
If you would like to learn more about how this works and how we can bring down landlords’ maintenance costs (depending on your number of units), please email email@example.com and make your subject TAP LAUNCH OFFER and we will send you a voucher code for 10% off.
We will call to help you with the joining process. It is easy, hassle-free and comes with a guarantee.
This will give you even more satisfaction and shield you from the stresses that naturally come with being a London landlord.