Author: Coast to Country Lettings
Electrical Safety – the Key Points There are around 30 deaths and 4,000 accidents annually in the UK involving electrics, so don’t think it can’t happen in your properties. If you let property in England & Wales you must ensure that electrical equipment and the electrical system are safe. There is currently no statutory requirement to have annual safety checks on electrical equipment as there is with gas, but it advisable to do so as you can still be liable if things go wrong. You should ensure that tenants are given copies of operating and safety instructions for ALL equipment…
There are currently a number of opposing precedent cases (cases that make law by their outcome) being referred to by advocates in court. This appears to be following advice that has been issued to tenants reps and housing solicitors by the legal action group. The cases are based on the legal requirements in regard to registering deposits. There are 2 elements to the current legislation i) when it is registered ii) the prescribed information Prescribed information simply means that the minimum information and the format of the information forms part of the legislation itself and must be complied with. There…
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago. Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters. However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability. Banks…
The DPS makes tenancy deposit protection even easier The Deposit Protection Service (The DPS) has made protecting and returning tenants’ deposits even easier with a new look website and enhanced SMS service. The DPS’s new SMS functionality is the fastest way for tenants to request repayment ID reminders and get their deposits returned. Kevin Firth, director of The DPS said: “Whilst repaying deposits only takes two days once we have agreement from both parties, the biggest barrier is misplaced repayment IDs by both tenants and landlords each month – without these, they cannot start or complete the deposit repayment process.”…
The National Landlords Association (NLA) has issued guidelines on how to protect properties from the effects of cold weather, after last winter saw a large spike in claims due to frozen pipes bursting. NLA Property Insurance saw a 48% increase in claims during December 2010 and January 2011, for damage caused by weather-related flooding in rented properties. Landlords can take simple steps to reduce the risk of flooding including: • Ensure all pipes are adequately insulated • Check overflow pipes are correctly connected and not blocked • Leave the heating on a low setting if the property is vacated for…