X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Buy-to-Let

    Landlord licensing

    Self-regulation of the sector would obviously be the ideal, although I’m not sure that this new legislation would necessarily be a bad thing. However, the £50 fee seems arbitrary and ineffectual. What benefits can landlords expect for registering, aside from a certain level of legitimacy? Advice? Support? Tax relief? I somehow doubt it.
    What do you think?
    http://property.timesonline.co.uk/tol/li...itted=true
    0
    0
    I expect £50 is an adinstration charge and nothing else. In other words landlords do not get value for money from the fee.
    What might happens is a raising of the standards and fewer of the 'cowboy' landlords. Granted I am not sure that the cowboys are having any impact on my business so there is no direct benefit there.
    Someone posted a comment to one of the articles in The Times. It asked why people thought having government officials (elected or not) in charge will lead to improvements. Like the government has an expertise that the landlords do not. Maybe having the government forcing some transparency will help and maybe it will not.
    The US has a much longer current history with the private rental sector. By this I mean there was no invention of BTL in 1996 in the US.
    If you look across the US, there are 50 states that implement their own rules in terms of licenses. Real estate agents are licensed as are property managers. In no state that I know of are landlords registered or licensed. It just is not needed. There are clear tenant-landlord laws and there are disputes. For most states there is no need to protect a tenant's deposit. Some do expect the landlord to keep the deposit in a segregated account. I believe, not verified, that there is a higher level of direct property management by landlords vs. in the UK.
    So, if the US is anything to go by there is no need to register landlords. The process in Scotland has not worked all that well given the backlog in processing applications.
    I am all for raising standards so bad practices are eliminated. I expect that the market will also naturally do this when landlords compete for tenants. There is no legal right for a tenant to remain in a property if a lender takes the property back other than they can finish the term of their AST as agreed. Nothing new there other than the tenants being unaware of how the system works.
    Your views?
    John Corey
    https://www.ChelseaPrivateEquity.com/blog
    0
    0

    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month since 2005. If you have never been before, email me for the 'new visitor' link.

    PropertyFortress.com/Events

    Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.

    James - I did like the graphic produced by the Times. PDF version attached to this message
    Lets talk soon about some business ideas that will dovetail with your company, Upad
    0
    0

    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month since 2005. If you have never been before, email me for the 'new visitor' link.

    PropertyFortress.com/Events

    Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.