News Archive for May 2021

More signs of recovery in London’s rental market

More signs of recovery in London’s rental market

Written by: Marc Da Silva Source: Property Industry Eye

Renters will continue to be supported as national COVID-19 restrictions ease.

•Four-month notice periods for most tenants until at least end of September 2021 •Move will ensure renters are protected as we continue through the Roadmap

Written by: Jinay

Advice for landlords carrying out right to rent checks during the coronavirus (COVID-19) pandemic.

This update replaces previous guidance issued on 20 April 2021. The temporary COVID-19 adjusted right to rent checks will now end on 20 June 2021, and from 21 June 2021 landlords will revert to face to face and physical document checks as set out in legislation and guidance.

Written by: Jinay

Fees

Refundable Holding deposit - Capped at 1 weeks rent

Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - Capped at £50 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent - Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc - Tenants own responsibility unless otherwise stated in contract

Client Money Protection Scheme Membership details - SafeAgent Membership :A2134

Property Redress Scheme Membership details - The Property Ombudsman, Membership Number : L00086