22nd November 2021
What Has The Pandemic Taught Us and How Has The Market Changed?
With lockdown restrictions easing even further on May 17th what is blooming in the Residential Lettings Market? Eviction Ban Ending. From the 1st June 2021 the eviction ban will be eased. Notice periods will not be quite pre COVID levels but are reduced as follows.... Section 21 notices will be reduced from 6 months to 4 months.The current ban on bailiff-enforced evictions, introduced as an emergency measure during lockdown, will end on May 31. All other notice periods for serious breaches such as Domestic Violence and Anti Social Behaviour will remain at their current lower levels. Housing Minister Chris Pincher says: "Subject to the public health advice and progress with the Roadmap, notice periods will return to pre-pandemic levels from October 1. Will Section 21 Notices be abolished? David Smith, a leading property lawyer, believes the Governments stance on this is somewhat weaker than first believed. Smith, a partner at JMW Solicitors, says: “There is no commitment to publish a bill to abolish s21 notices and given that bills were being promised in both the Spring and Autumn of 2021 that is very telling. Instead, the government has now committed itself to finally publish its response to the original consultation on getting rid of s21 - a response which it has never in fact published. “That is a very much weaker offer. Almost as if there is a desire to distract from this there is, mainly repeated, talk of ‘lifetime’ deposits and landlord redress schemes. There is also a statement that the government will ‘explore the merits of a landlord register’. “This seems to me like...
Grow by outsourcing to rental property management companies – it’s the future of lettings. Christmas 2020 Update I doubt there will be many people, other than the owner of Amazon, who won’t be glad to see the back of 2020. There is positive news on the horizon with COVID-19 vaccines due very soon so rather than look back at 2020 with doom and gloom I am going to look forward to 2021 with a new invigorated optimism. But has 2020 really been that bad? Starting PPM at the beginning of this year, in hindsight, was not one of my best life decisions but I have been able to help many Landlords through this ‘annus horribilis’ directly and indirectly with practical advice and fresh new ideas on how to deal with tenants and resolve issues before they become a major issue. This advice and help has been given freely and without obligation. PPM’s and my personal ethos will always be ‘we are in this together’ so whatever I can do to help I will. I firmly believe that the service PPM offers to Landlords and tenants alike is second to none. I have been able to secure more long-term contracts for my Landlords than ever before and the feedback from my Landlords, who are only having to deal with 1 person now, has been hugely encouraging. Are Pets a bad thing? According to the Kennel Club, two out of five new puppy owners this summer bought their pet as a ‘Covid companion’, and two thirds of new dog owners agreed their pet was a lifeline during lockdown. In general pet ownership has soared during lockdown. Cats, dogs, rabbits etc. ...
Outsourcing to rental property management companies – is it cost effective? So, just how cost effective are rental property management companies? Like every business, as we navigate our way through the pandemic, running costs are at the forefront of our minds. Property agents have been hit hard by the lockdown, but as the world gradually settles into some sort of normal, the fallout is becoming evident, and it’s not great. The impact of decreased footfall on the high street has impacted every aspect of the property sale and lettings industry. No matter how big or small your property agency is, lettings form a vital part of the business creating regular income, and a boost to the sales funnel for property sales. But, at a time when you need to have more fee earners out there closing deals and increasing your letting portfolio, you’re also dealing with a bottle neck of property management administration. New safety regulations, renewals, property inspections, all delayed during the lockdown. It’s hard to see how to strike a balance and successfully release you to sell rather than administer. The average sized property agency has approximately 6 desks, with at least two of them being occupied by property management staff. Of course, you need to have dedicated resources to cover your letting business, but they don’t necessarily have to be in-house. Property Management is highly specialised (and not the cheapest thing to maintain when you add in annual fees for subscriptions, training and banking), so why try to do it inhouse? Traditionally it’s how it’s been done, but like everything else today, the world has changed. The word outsourcing strikes fear in the hearts of most business owners; will the benefits by outweighed...
What Has The Pandemic Taught Us and How Has The Market Changed?
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