News
Reminder for agents and landlords - act now ahead of MEES
An investment company says agents and landlords should start taking measures to ensure their properties comply with the new Minimum Energy Efficiency Standards that come into effect next spring. The changes, from 1 April 2018, mean that it will be unlawful to let or lease a residential or commercial property with a poor energy rating.
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Tenant happiness on the rise as more opt to rent long-term
A study of over 3,000 tenants has found that an increasing number of renters are 'very happy' with their living situation. LSL Corporate Client Department's 2017 Tenant Survey found that 32% of renters claim to be 'very happy', up from 28% last year. A further 37% indicated that they are 'happy', increasing marginally from 36% in 2016. Just 4% of tenants said they were 'very unhappy', down from 6%, while 7% said they were 'unhappy', down from 9%.
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Landlord facing £57,000 fine 'could have benefitted from an agent'
The landlord of a west London property, described by a judge as a "deathtrap" and an "accident waiting to happen", has been fined £57,000 and ordered to pay costs of £3,825 and a victim surcharge of £120.
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OUCH! - Buy to let investor guilty on 18 HMO charges and gets big fine
Prime Choice always recommends using a reputable agent when managing your properties. As the below article demonstrates from Letting Agent Today, not being aware of or ignoring your responsiblites can prove costly:
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Land Registry figures: prices strong but transactions slump
Land Registry data shows that homes across the UK have risen in price by an average 5.8 per cent in the year to February - but the most startling figures reveal the scale in the slump in transactions. February data from the registry shows that the average property value in the UK increased to £217,502.
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Government Agrees to Mandatory CMP
PRESS RELEASE: David Cox, Chief Executive, ARLA Propertymark comments on today’s announcement that the Government will be introducing compulsory client money protection (CMP) for all letting agents:
Stamp duty: A year on and the government has scored an own goal
A year ago, we were days away from the introduction of a 3% stamp duty surcharge on second homes – a move by the Government intended at stemming the popularity of the buy-to-let market which many felt was operating to the detriment of those trying to get a foothold on the property ladder for the first time.
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