Tag Archives: news
Majority of UK landlords don’t want personal contact with tenants
Most landlords in the UK prefer for letting agents to manage their tenants and generally don’t want to be troubled with tenant complaints, new research has found. Some 85% of landlords don’t want to deal directly with tenants and 90% are unhappy about tenants calling or emailing them with problems, according to the study from online letting agent Property Let By Us. The research shows that despite landlords avoiding contact with tenants, nearly 60% pay for all the repairs to the property, while 10% expect tenants to pay for small repairs and just 2% confess to ignoring repairs for as long as possible. 'Landlords often come in for bad press but the majority of them are professional and take their responsibilities seriously. Many landlords work either full or part time and need the support of an agent to help them with managing the relationship with the tenant,' said Jane Morris, managing director of Property Let By Us. 'We know from our research that 66% of landlords find managing their properties more stressful than their full, or part time jobs and dealing with tenant complaints is a top cause of stress,' she explained. 'Landlords are under a huge amount of pressure with mounting legislative and tax changes. Agents can be a big help for landlords, offering a range of services that help reduce their workload and ensure they are fully compliant with legislation,' she added. Continue reading
Changes for rental properties lettings in New Zealand announced
Changes in New Zealand mean that every rental property must reach specified insulation standards by July 2019 and have smoke alarms fitted. Housing minister Nick Smith has announced new rental regulations which all landlords must meet. Only properties where it is physically impractical to fit insulation will be exempt. The smoke alarms will become obligatory in July of next year but tenants will be responsible for replacing batteries and informing landlords of any defects that prevent the alarms from working. Smith also outlined new powers to prosecute landlords for breaking tenancy regulations, particularly where there is risk to the health and safety of tenants and the rules will allow tenants to take concerns to the Tenancy Tribunal without fear of retaliatory evictions. Under proposed changes to the Residential Tenancies Act, landlords will need to make sure their rental properties have ceiling and underfloor insulation that meets the new standard.The new requirements will apply from July 2016 for government subsidised social housing, and from July 2019 for all other rental properties, including boarding houses. The regulations will make landlords responsible for installing operational smoke alarms, with tenants responsible for replacing batteries and notifying landlords when there is a defect. This will come into effect from 1 July 2016. The proposed standards require a minimum of one working smoke alarm in a hall or similar area, within three meters of each bedroom door. Help will be available through the Warm Up New Zealand: Healthy Homes projects which provides free ceiling and underfloor insulation for low income households that are at high risk from illnesses linked to cold, damp housing. Funding for this programme is only guaranteed until June 2016. 'The Ministry of Business, Innovation and Employment will have new powers to investigate and prosecute landlords for breaking tenancy laws as part of these reforms, particularly where there is risk to the health and safety of tenants,' said Smith. 'The new standards are part of the Government's plan to ensure all tenants can live in safer, warmer and healthier homes. Insulated homes are easier to heat, and smoke alarms are proven to reduce the risk of death from fires by up to 50%,' he added. The regulations will also include a new 10 day process to enable landlords to 're-tenant' abandoned rental properties, where the tenant has no intention of returning. The current process can take up to six weeks, and often leaves landlords significantly out of pocket. Continue reading
Property registrars in Spain report annual price growth of 5.12%
Spanish house prices have increased at their fastest rate since the downturn, up 5.12% in the 12 months to the end of June, the latest index report shows. This is up from 2.65% in the previous quarter, according to the data from the Property Registrars which also shows that quarter on quarter price increased by 2.8%. The latest rise in price growth means that prices are down 29% nationally since the peak of the market, but there are considerable regional variations. The recovery in the Spanish property market is limited to the most popular areas where houses are in demand such as Madrid, the Balearics, the Canaries, Catalonia, and the Valencian Community and the report points out that this is reflected in prices. It points out that sellers and buyers are adjusting their expectations accordingly. In more and more areas buyers who have been adopting a wait and see attitude whilst prices fell are now entering the market. Registrars are not expecting prices to surge but the report does suggest the recovery is well underway, supported by factors such as low interest rates, improved housing affordability, better mortgage conditions, and a sustained foreign demand for property in Spain. They expect moderate price growth and the report points out that a sudden surge would be unhealthy for the market. 'Now more than ever rational decision making is needed to avoid the errors of the past, which came at such a high cost to the economy and society,' the report says. The regional aspects of the market can also be seen in the latest price data from real estate portal Hogaria which shows that overall prices on its lists increased by 0.15% in July compared to June but year on year prices were down 4%. But 29 provinces saw prices increase which suggests that the recovery is there and the market is more stable than it has been. The provinces where prices dropped most in July were Toledo with a fall of 1%, Guadalajara down 0.9%, Lugo down 0.8%, Ciudad Real down 0.7% and Almeri down 0.6%. Cuenca led the growth with a price rise of 1.2%, followed by Sta. Cruz de Tenerife at 1%, Valencia also at 1%, Madrid at 0.9% and Cádiz also at 0.9%. Continue reading
