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Lettings Update
9th March 2016
Essie Barnett
Rents start the year on the backfoot but up 6% on the year
*All data from LSL property services plc
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
London; Average rent (one-month change) 2014 London; Average rent (one-month change) 2015 London; Average rent (one-month change) 2016
How do Consumer Protection rules affect landlords?
•  ARLA have published a ‘Property Information Form’ for residential lettings
•  The aim of the form is to help landlords and agents comply with the
Consumer Protection from Unfair Regulations 2008
•  The Regulations aim to make sure business tell the truth about goods, services and prices
and prohibit unfair commercial practices.
•  The form helps landlords comply with the requirement to disclose information
that would affect the 'average consumer's' decision to rent
•  Breach of these Regulations can lead to an unlimited fine and up to two
years in prison
•  However, not disclosing information is only an offence if the practice
materially distorts (or is likely to) an average consumers behaviour
February news
•  Right to Rent news:
•  RLA says changes to the Immigration Bill will give new protection for landlords and their
agents who fail to ensure tenants have the Right to Rent.
•  Landlords will be protected if they take reasonable steps in an appropriate time frame to
terminate tenancies of those living in the country illegally.
•  My deposits launches new free to use custodial scheme
•  London Housing Commission recommends that Ministers should give
boroughs the power to create their own landlord licensing schemes
•  Budget to take place next Wednesday – look out for PRS news!
Contact us
Find our page Lionyardlettings
Connect on Linkedin: essieatlionyard

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Kensington property investors network meeting march 9 2016

  • 1. Lettings Update 9th March 2016 Essie Barnett
  • 2. Rents start the year on the backfoot but up 6% on the year *All data from LSL property services plc -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec London; Average rent (one-month change) 2014 London; Average rent (one-month change) 2015 London; Average rent (one-month change) 2016
  • 3. How do Consumer Protection rules affect landlords? •  ARLA have published a ‘Property Information Form’ for residential lettings •  The aim of the form is to help landlords and agents comply with the Consumer Protection from Unfair Regulations 2008 •  The Regulations aim to make sure business tell the truth about goods, services and prices and prohibit unfair commercial practices. •  The form helps landlords comply with the requirement to disclose information that would affect the 'average consumer's' decision to rent •  Breach of these Regulations can lead to an unlimited fine and up to two years in prison •  However, not disclosing information is only an offence if the practice materially distorts (or is likely to) an average consumers behaviour
  • 4. February news •  Right to Rent news: •  RLA says changes to the Immigration Bill will give new protection for landlords and their agents who fail to ensure tenants have the Right to Rent. •  Landlords will be protected if they take reasonable steps in an appropriate time frame to terminate tenancies of those living in the country illegally. •  My deposits launches new free to use custodial scheme •  London Housing Commission recommends that Ministers should give boroughs the power to create their own landlord licensing schemes •  Budget to take place next Wednesday – look out for PRS news!
  • 5. Contact us Find our page Lionyardlettings Connect on Linkedin: essieatlionyard