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The Conservatives have announced that they intend to regulate all Landlords in the UK; the reasoning behind this is that currently any tenant renting a property managed by a letting agent has the automatic right to a redress scheme. Any tenants renting a property which is managed privately by the landlord does not have access to a redress scheme.
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In general the market in 2017 has been a strong rental market and generally properties have rented out well. There have been certain times of the year where there has been a stronger demand than others; the strongest quarter of the market so far was July to September.
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We are fast approaching the first anniversary of one of the latest regulation requirements, the “Right to Rent Checks”. It is now the letting agency or landlords (if you’re not using a letting agency) job, to verify that your prospective tenant(s) has the right to rent your property, before granting a tenancy agreement and allowing them to live in the property.
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Inventories have changed quite a bit over the last 10 to 15 years. I would say an average inventory 15 years ago was a couple of sides of A4 paper, listing very little in the property just basically saying that there was something there and listing the item as either good condition or new etc.
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I was surprised to actually find out that this has now been just under 4 years for the LRA to be carried out; where does the time go!
