Article Source: Property Reporter Author: Warren Lewis Landlord Rent Arrears On The Increase In Early 2016 Paying the rent on time became marginally more difficult for tenants in the private rented sector in February. On average late rent now stands at 8.8% of all rent due, compared to 8.2% in January 2016. Tenant finances have also worsened compared to the same point a year ago. The latest arrears rate of 8.8% compares with 7.6% rent arrears previously in February 2015. On a longer-term basis levels of late rent remain more encouraging. This February compares to the all-time high of 14.6% of all rent payable in
A new report reveals that landlords are increasingly facing filthy properties damage at the end of tenancies and the problem is getting worse. The study, conducted by PropertyLetByUs, reveals that almost a third of landlords face filthy ovens at check-out, followed by dirty baths and sinks (23%), stained carpets and floor coverings (22%), mucky showers (10%) and grubby kitchen cupboards (9%). The research also reveals that over 60% of landlords are left with piles of rubbish left by tenants in lofts, sheds, garages and gardens. Dirt is not the only problem that landlords have to contend with. Over 40% of landlords find that their property
New analysis by mortgage insurer, Genworth, has revealed that Wider and more efficient use of Help to Buy 2 could support an extra 200,000 first-time buyers, restoring the first-time buyer market to pre-recession health. George Osborne originally pledged the scheme would enable up to £130bn of lending over three years, equal to £43.33bn a year. Yet Genworth’s analysis of industry, government and regulatory data shows Help to Buy 2 supported £5.76bn of mortgage lending in 2014, just 13% of its potential capacity. Last year’s £5.76bn therefore left a shortfall or ‘spare capacity’ of £37.57bn. Better use of Help to Buy 2 could return first-time buyer
Landlords use inventory reports to protect their asset… Who uses inventory reports? Well most landlords will use an inventory as a form of protection for their asset and they will in most cases get one produced by an inventory clerk prior to the tenant moving, clearly stated and providing a written record of the property. Property developers use inventory snagging reports… There are also major construction companies who use inventory clerk services. Because inventory companies offer a service called ‘snagging’ which fully inspects the newly built property before anyone buys the home and moves in. It is often worthwhile for property developers to have a
It is essential to remember that under the new TDP Legislation, a landlord is, in the event of a dispute, required to prove the tenants guilt. Which, without adequate documentation together with the Check-in and Check-out processes completed, signed and agreed will be extremely difficult and therefore is highly unlikely to be awarded the case and subsequently unable to make any deductions from the tenant’s deposit. Often the cost of the initial Inventory and Check In, is subsequent far out weighed by the cost of repairs, clearing, cleaning and in certain cases replacements of furnishings, if adequate records are not kept as evidence. Using an
Welcome to the property inventory company website, which we have recently launched. We provide professional property inventory services for short-hold tenancies to lettings agents, landlords, tenants and developers . Our services include Inventories, Check In and Check Out, dilapidation reports and snagging lists for property developers.