BREAKING NEWS – top 5 stories 28/05/2021

POSSIBLY AS MUCH AS 7% OF PRS TENANTS UNABLE TO PAY THE RENT

Although it remains to be seen as the evictions ban is still in force until Tuesday, a recent analysis has suggested that as many as 7% of those in the private rental sector of housing can not pay all or part of their rent.

The bigger problem being that many of these may not be caught up in any governmental backed inniatives.

Ben Beadle, chief executive of the NRLA, said: “As the private rented sector moves out of lockdown measures, the Chancellor has failed to provide tenants with the support they need. This is especially the case for the majority of those in rent arrears who do not qualify for benefit support.’

SIMPLE PROPERTIES MANAGEMENT LTD GETS 5-YEAR BAN

Following on from recent financial penalties, judgement has just been given that a lettings enterprise will not be allowed to trade for the next five years, the force behind the prosecution being brought was Camden Council and centred around an unlicensed and unsafe HMO.

NEW LAW SOCIETY CHIEF SUPPORTS HUGE ROLE OF CONVEYANCERS

Though only in post a few months, the new head of The Law Society, I. Stephanie Boyce has come out and strongly backed her colleagues commenting that,

‘Stressed and under-pressure solicitors have been working late into the night and over weekends, with little or no work-life balance, to ensure their clients’ transactions are able to complete according to their wishes.

‘Many factors limiting the speed of a move – delays in the issuing of search results, delays in mortgage offers being issued, problems in the chain and with dependent transactions – are usually outside the control of the conveyancer. They cannot guarantee transactions will complete before the end of June, when the stamp duty holiday begins to taper off.’

PERFECT STORM IN THE LETTINGS MARKET – BAD TENANCIES VS LOTS OF NEW TENANTS

Whilst the 1^st of June sees the end to the evictions ban, so Landlord’s may see the end of troublesome tenancies, in other news ARLA Propertymark announce that April was highest on record for tenants looking to move into rented accommodation. They say that on average over 80 new tenants per branch canvassed, was the typical number. The factors being that during lockdown etc, the lettings market has been very moribund.

WILL DEVELOPERS FOOT THE BILL FOR CLADDING SCANDAL

A new proposition is forming where national home builders will be ‘taxed’ to help cover the costs for remedial work on properties that are unfit for purpose. If implemented the biggest companies could face handing over in excess of £40M. We will wait and see if this happens.