Significant Increase in Fines for Non-compliance with Right to Rent Checks: A Comprehensive Guide for Letting Agents and Landlords Introduction The penalties for repeated non-compliance with the Right to Rent check rules have seen a substantial increase, with new fines reaching up to £20,000. Consequently, it is imperative for landlords and letting agents to exercise
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The prospects of further interest rate rises in the UK are high. The Bank of England has already raised interest rates five times since December 2021, and it is widely expected to raise them again in the coming months. This is because inflation in the UK is currently at a 30-year high, and the Bank
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Property prices in the UK have been falling for several months, as the cost of living crisis and rising interest rates have squeezed buyers. The average price of a home in the UK fell by 0.5% in February, according to Nationwide Building Society, taking the annual rate of decline to 1.1%. This is the largest
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Fraudsters are a major concern for the property rental market in the UK. They use various tactics to swindle both landlords and tenants out of their money. One of the most common techniques is the use of fraudulent documents in tenancy applications. In this article, we will explore how fraudsters are using these documents and
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Open banking can be used in tenant referencing to provide a more accurate and efficient way of assessing a tenant’s financial standing and creditworthiness. With open banking, tenants can give their prospective landlords or letting agents access to their financial data, including their bank statements and transaction history, through a secure API. By using open
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Property Reporter says that £82.7 billion worth of UK property is being let to criminals. That’s 5% of current housing stock. Tenant fraud is a growing problem in the rental industry, and one of the most common forms of fraud is the submission of fraudulent documents including fake IDs, payslips, utility bills and bank statements.
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Referencing software Lettings in a box has teamed up with Nordigen the only freemium open banking provider, to enhance their application and assessment processes. Lettings in a box is one of the UK’s leading referencing companies. Formed by lawyers and insurance specialists, the business offers a seamless platform for tenant and guarantor referencing. In order
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Permission to appeal has been refused by the Supreme Court in the landmark decision of Trecarrell House Limited v Rouncefield on the issue relating to s21 and service of a gas safety certificate. The Supreme Court opined on the application as not being a point of general public importance. Essentially, as the law now stands,
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The Government has launched a new Model Tenancy Agreement to stop landlords being able to issue a blanket ban on pets. The Press Release, issued on the 28th January 2021, titled “New standard tenancy agreement to help renters with well behaved pets”. The aim is to enable tenants with “well-behaved” pets to secure a tenancy.
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The Government has confirmed that evictions will not be enforced by bailiffs until at least 21st February 2021 with measures kept under review. Egregious cases can be enforced. It is unclear as to whether the ban on evictions will be extended beyond 21st February. The courts will remain open and continue to prioritise such cases
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