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Survey reveals extent of UK residential tenant fears over maintenance issues
One in five tenants in the UK has been evicted by their landlord or agent for complaining about problems, such as faulty boilers and leaking roofs, it is claimed. A survey conducted by online lettings agents PropertyLetByUs, also reveals that nearly a third of tenants are fearful of evictions if they complain about maintenance issues. The most common cause of complaints are faulty boilers at 28%, followed by leaking roofs at 22%, faulty showers and mould and condensation at 14%, leaking bathroom and window locks at 10%, broken windows at 8% and finally smoke alarms, pests and vermin at 6%. The research also shows that some tenants are waiting a long time to get problems fixed. Nearly 20% of tenants are having to wait one to two months, while 12% of tenants have experienced landlords that never fix the problem. Just a third report their landlord fixes problems quickly within a couple of days. ‘It is shocking that tenants are living in fear of being evicted and that many have to wait a considerable amount of time to get problems fixed. Landlords have a duty of care for their tenants and leaving problems, such as faulty boilers can be very dangerous and put lives at risk,’ said the firm’s managing director Jane Morris. She explained that there has been a lot of industry discussion on so called revenge evictions over the last few months. For example, there was a case earlier this year of a tenant who was ordered to leave his home in Ashford, Kent because the boiler in his £695 a month home kept failing. ‘It us a worrying trend. According to Shelter, in the past year alone, more than 200,000 people have faced eviction. It’s high time the government considered a system to encourage more good landlords into the market to increase the stock available and its quality,’ said Morris. ‘I welcome the calls made by the industry for extra tax breaks to improve private rental housing and fully support the call for effective regulation to tackle rogue landlords,’ she added. PropertyLetByUs has put together some guidelines on landlord response times for tenant complaints. It points out that landlords and agents have a duty of care to advise tenants on the correct course of action while contractors are organised, such as turning off gas taps, water stop cocks or main electricity supplies, to ensure that any problem does not cause danger to life and property. Any gas or major electrical fault is classed as urgent and should be attended to within 24 hours or less. This also applies when heating or hot water is affected, especially during cold weather. Water leaks should be dealt with within 24 hours, cookers within 48 hours and other broken appliances such as washing machines and dish washers should be attended to within 72 hours. ‘Communication is key and the landlord or agent should keep the tenant… Continue reading
Demand for new properties in Miami impacts on existing home market
Demand for new construction properties continued to impact the Miami existing real estate market in August as reflected by sales activity, prices, and rising inventory, according to the latest report from the Miami Association of Realtors. Sale prices again increased for existing single family homes in August, while the median sale price for condominiums dipped slightly. The MAR said that prices remain at affordable 2004 levels despite 33 months of consistent increases for single family homes. Condo prices had increased for 38 consecutive months and began increasing long before that of single family homes. Condo prices declined in August for the first time in more than three years. The median sale price for single family homes increased 6.4%, up to $250,000 from $235,000 in August 2013. The average sale price for single family homes increased 24.7% from $364,960 in August 2013 to $455,108 last month. Compared to August 2013, the median sale price for condominiums decreased by 4.2% to $182,000 from $190,000 a year prior. The average sale price for condominiums decreased -6.9% to $346,847 from $322,743 in August 2013. ‘The Miami real estate market continues to normalize as the new construction sector gains momentum and generates strong demand for additional new supply, impacting the existing condominium market,’ said Liza Mendez chairman of the MAR board. ‘Despite declines in sales and condo prices, the performance of the Miami residential market continues to be comparable to what it was in during periods of record sales activity,’ she added. Single family home sales in Miami-Dade County decreased 4.4% relative to August 2013, from 1,210 to 1,157. Compared to August 2013, condominium sales declined 21.4% from 1,592 the previous year to 1,252 last month. Combined, residential real estate sales decreased 14% to 2,802 compared to 2,409 in August of last year. The report points out that Miami real estate continues to sell at a rapid pace and at nearly asking price, reflecting strong demand. The median number of days on the market for single family homes sold in August was just 47 days, an increase of 34.3% from August 2013. The average percent of original list price received was 95.4%, down a negligible 0.8% from a year earlier. The median number of days on the market for condominiums sold in August was 53 days, an increase of 15.2% compared to the same period in 2013. The average sales price was 94.7% of the asking price, a decrease of 2.6%. ‘Although the Miami market continues to normalize creating more balance between buyers and sellers, some price points, particularly for single family homes, still reflect strong demand coupled with limited supply,’ said Francisco Angulo, MAR residential president. ‘In certain market areas and price points, homes for sale are still generating multiple offers, sales above asking price, and competition between prospective buyers,’ he added. The data also shows that cash sales in Miami continue to decline as more financing becomes available. Still, access to mortgage loans for condominium buyers remains limited, impeding further market strengthening. In Miami-Dade County, 54.4% of… Continue reading
Referendum waiting game pushes rents to all-time peak in Scotland
The Scottish independence referendum contributed to the recent rise in rents to a new record high of £537 per month, up 2.7% in the last 12 months, the latest index shows. Rent growth accelerated on a monthly basis over the past three months as polling day approached, according to the Scotland Buy to Let Index from Your Move, one of Scotland’s largest lettings agents network. The data shows that rents have increased in every region of Scotland over the past year with new records in Edinburgh and Glasgow. Cumulatively, average residential rents have risen 1.3% in the three months to August 2014. Doubt over the outcome of the referendum and lack of clarity over the mortgage and taxation consequences of a possible ‘Yes’ vote, prompted people to delay purchase decisions, and consequently heightened demand in the private rented sector. The average residential rent across Scotland is now 2.7% higher than in August 2013, currently standing at £537 per month. In cash terms, this represents a rise of £14 from a year ago. This is the highest level of average residential rent in Scotland on record, and is up 0.5% since July. ‘While the independence debate has been raging, many households have been battening down the hatches and waiting to see which way the wind blows before buying property. This has boosted demand in the private rental sector, which has acted as a safe harbour and stop-gap on the journey to home ownership,’ said Gordon Fowlis, regional managing director of Your Move. A breakdown of the figures shows that rents have risen on an annual basis across all five regions of Scotland and have climbed to new record peaks in both Glasgow and Clyde, and Edinburgh and the Lothians in August. Glasgow and Clyde saw the fastest annual increase, with average monthly rents up 5.5% or £30 on August 2013, and now standing at £575. This is followed by 3.8% annual growth in Edinburgh and the Lothians, where rents rose by £22 over the past year to an average £602 per month. In three out of five regions, rents are higher than the previous month. The steepest month on month increase is in Glasgow and Clyde, with rents increasing 4.2% between July and August 2014. In Edinburgh and the Lothians, rents have risen 0.2% over the past month, and rents in the East are up 0.1% from July. Two regions have seen rents dip on a monthly basis. The South witnessed the biggest fall in average rents, down 2.2% in the month to August, while in the Highlands and Islands rents were 0.2% lower than in July. As of August the gross yield on a typical rental property in Scotland stands at 4%. This represents a fall of 0.2 percentage points since August 2013 when the gross yield on a rental property averaged 4.2%. However, yields are holding steady on a monthly basis, at 4% over the past four months. Taking into… Continue reading
