Spring is finally here, Q2 begins and the bank holidays are just around the corner! On this point, please note the office will be closed on Saturday 6th May for the King’s Coronation. We hope you enjoy the royal celebrations.
There is quite a lot to get through this month, starting with the new updated ‘How to Rent Guide’ published on Friday 23rd March.
How To Rent Guide March 2023
The new updated Guide is 17 pages long (compared to the first edition being only 6 pages). With a time frame of 20 months since the last update, there are quite a few changes including
- notes on Smart Meters;
- changes to the right to rent checks;
- checking the property is suitable for any disability needs;
- tenant’s responsibility for paying taxes when a landlord lives abroad;
- smoke and carbon monoxide requirements; checking the property is not in a flood risk area.
The most obvious change is that the guide is now pink in colour which we feel will assist landlords and agents to identify clearly the new edition. Remember – the most recent ‘How to Rent Guide’ must be provided to tenants at the start of a tenancy; and as there is now an updated guide, this new document must be presented at the renewal stage for existing tenancies including those tenancies moving into statutory periodic status.
Update on the Renters Reform Act
New Section 8 Grounds
Landlords wishing to sell their property will be able to use a new mandatory ground under the Act; notice will only be permitted for use once the tenancy has lapsed by six months, a notice period to the tenants for possession will be two months. The Landlord will then be restricted from reletting the property for three months.
Anti-Social Behaviour
The government will give landlords more power to crack down on anti-social behaviour from tenants to ensure those who are ‘persistently disruptive’ are evicted. The Anti-social Behaviour Action plan includes reducing notice periods to anti-social tenants to just two weeks. It will also broaden and clarify the definition of anti-social behaviour, to make it easier to prove or disprove in court.
Mandatory Ombudsman
The government has taken their first step under the new Act towards introducing a mandatory ombudsman scheme, which all private landlords in England will be required to join. A ‘pre-tender market engagement’ providing information required for prospective suppliers wishing to manage the scheme, has been published.
Rental Market
Homelet’s latest rental index shows that average UK rental prices continue to rise, following a previous drop in prices at the start of the year. Average UK rent as of 5th April was reported at £1,184 pcm increasing 0.8% from March data.
We did not experience any drop in prices here and whilst we are constantly reminded that rental prices are increasing, we noticed some very ‘bold’ rental asking prices in Beaconsfield over the last few weeks. We are keeping a close eye on these asking prices, particularly as one property has now been reduced by +20%.
EPC regulation update
Reports suggest that the Government will push back its plans to increase Minimum Energy Efficiency Standards for private rental properties to EPC band C on new tenancies to 2028. We will keep you updated as more news updates are posted.
If you have any questions or would like to discuss the information in this month’s article, please give me a call on 01494 685518 or email me: clairew@ashingtonpage.co.uk