According to the NHS, around 60 people die of accidental carbon monoxide (CO) poisoning every year. In a significant step to reduce accidental carbon monoxide poisoning in rented accommodation, the government has announced changes to the law regarding carbon monoxide alarms that all landlords and agents must respond to.
Landlord’s current responsibilities regarding CO alarms
There is already clear legal guidance in place regarding the responsibility of landlords to have the appropriate CO monitoring in place, with current requirements stating:
• At least one smoke alarm is installed on every property storey used as living accommodation.
• A carbon monoxide alarm is installed in any room used as living accommodation where solid fuel is burned. A solid fuel-burning appliance could be a coal fire or wood-burning stove.
Avoiding a large fine
In addition, to fitting CO alarms where appropriate, alarms must be checked regularly to ensure they are working at the beginning of a tenancy and audible throughout the property. Landlords should consider proving that they have checked the alarms at the appropriate times.
Failing to comply with regulations can lead to a fine of up to £5000 for landlords, so it’s important that you are aware of what you need to know about Smoke and Carbon Monoxide alarm verification.
New rule changes
The new legislation announced in November 2021 takes existing rules further, making it a legal requirement to:
- Fit carbon monoxide alarms in properties with fixed appliances, such as gas boilers and fires
- Fit carbon monoxide alarms when new appliances such as gas boilers or fires are installed in any home
- Repair or replace smoke and carbon monoxide alarms for properties in the social and private rented sectors once the landlord or their agents are informed of a fault.
How can landlords and letting agents comply with the regulations
The requirements of landlords to provide adequate protection from the risk of carbon monoxide poisoning by installing sufficient alarms means regular checks should be built into your property management routine to ensure they aren’t missed.
No Letting Go’s Smoke and CO verification will ensure you stay compliant by working with you to put in place regular checks of your CO alarms to make sure that not only are they working but that they are in the right location. This can be done at the start of a new tenancy, and during regular interim checks, so you don’t have to rely on the tenant to ensure they are in working order.
No Letting Go, giving you peace of mind
Reports generated through our checks include specific smoke and carbon monoxide safety sections that guarantee you meet regulations and any more changes brought in, giving you peace of mind that your tenants are safe from the danger of carbon monoxide.
Our local support or national network at No Letting Go can be your inventory partner for your property, whether it’s a single flat or a housing portfolio. If you wish to find out more about how we can help streamline your cost and reduce your workload, contact No Letting Go today.
During the winter months, dampness and mildew become a problem for landlords and agents to resolve with the tenants, but by completing regular property inventories, you could stop it from becoming a serious issue.
What causes dampness & mildew?
When there is too much moisture in the air, and the air is also cold, it releases its moisture onto surfaces. This moisture leads to conditions that give rise to mould and mildew.
Increased moisture in a property can be caused by activities that release water, such as cooking, showering, washing and drying clothes, which is why mould can often be found in kitchens and bathrooms. Damp can also be caused by external factors such as roofing or foundation problems, leaking pipes and leaks through the brickwork.
Excessive moisture, combined with poor ventilation, especially in the winter months when tenants are less likely to open windows to encourage airflow, will quickly cause problems.
Damp needs to be dealt with
For tenants, damp can lead to serious health problems such as respiratory infections and, potentially, asthma, particularly concerning those who already have underlying health issues.
Landlords and letting agents don’t only need to be concerned for tenants’ wellbeing but also for the impact it has on their properties. If damp is caused by structural issues, not dealing with it quickly will lead to costly repairs later.
Are landlords at risk of being sued over damp?
Landlords are required to resolve structural issues that could lead to mould. Legal provisions allow tenants to apply to the courts if they believe their rented accommodation is “unfit for human habitation”. Ventilation and freedom from damp are listed as hazards that would put a property in this category, so landlords are at risk of legal action if they don’t deal with the issue. However, if the damp is caused by the actions of the tenant, the landlord will not be held responsible.
How inventories manage mould
To prevent a dispute about damp and its causes, landlords and letting agents can take proactive steps to become aware of and monitor mould issues through regular inventories.
Check-in and check-out reports will demonstrate whether mould existed at the beginning and end of a tenancy. Still, interim reporting will provide regular monitoring, particularly important if tenants are in place for long periods. This is important for ensuring the long-term maintenance of a property because any structural causes won’t be left undiscovered.
At No Letting Go, we are aware of the challenge that damp can cause for landlords, agents and tenants, offering to check for damp as a standard part of our inventory services. Our website also offers advice for landlords on their responsibility regarding mould, and we are always available to help ensure that you stay on top of damp issues.
No Letting Go
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
At No Letting Go, our mission is simple: to help our clients create accurate, fully compliant property reporting, wherever you are and whenever you need it.
We understand that technology has an essential role to play in achieving our mission, which is why we partner with Teclet to enhance our services offering to estate agents and, ultimately, to landlords.
What is Teclet?
Teclet is a cloud-based portal that automates the letting process from end to end, from pre to post tenancy. This means services and transactions such as deposits and pre-payment transactions, referencing support, contact generation, compliance requirements, and tenancy renewals can all be done online and from a mobile device, such as a tablet.
Teclet provides complete flexibility for agents to manage the day-to-day running of their business, which means there are many benefits to utilising such a tool.
The benefits of Teclet
The ability of Teclet to bring so many aspects of property and lettings management into one single portal means that it is a tool that makes a real difference to how letting agents run their business:
• Dramatically decreasing the amount of administration time by reducing admin input by up to 80%
• Allowing services to continue 24/7 so tenants can continue to upload or retrieve information even when a branch is closed for the day
• Improving compliance by ensuring that all required checks are completed within specified deadlines and are never missed
• Reducing errors by ensuring all required actions are completed
• Providing a seamless and efficient service and a better experience for all stakeholders
Delivering exceptional service
Our focus at No Letting Go is to provide the tools to empower agents to deliver the best service possible and build their reputations so that both landlords and tenants benefit. The partners we work with share the values that support this focus and our overall mission.
Like us, Teclet utilises technical innovation to drive efficiency that ultimately reduces overheads and costs for agents, taking staff away from administrative tasks and allowing them to focus on activities that generate revenue.
This allows businesses to focus on activities that build for the future and keep their competitive edge. In addition, the platform offers agents numerous additional solutions via “best in class” plug-in partners. It provides the adaptability to be a long-term solution that grows with the business and meets changing demands.
No Letting Go
No Letting Go provides fast, reliable inventory management for the agency market on a national basis. All reports are stored on our portal, providing a full audit trail, and our network of specialists carries professional indemnity, public liability insurance and are members of the PRS. Our partnership with Teclet lets us continue to innovate to deliver cutting-edge tools to these services.
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
This year’s State of the UK Rental Market Report paints a picture of optimism for the sector, tempered by some significant concerns.
What are the report headlines?
With 550 agents and 1,700 tenants participating in the survey, this annual report provides an extensive view of the state of the lettings market. Assessing key aspects of the rental sector, we can get a good feel for the pulse of the industry and, looking at some of the report headlines, note some trends emerging:
• Rent arrears: Over the past year, those reporting an increase in rent arrears has halved from 64% to 32%. This is a positive development, but it is still the case that 48% are reporting arrears have stayed at the same level over the past year. Despite this, 81% of tenants said the pandemic had not affected their ability to pay rent in the past year.
• Tenants remaining in the rental sector: Only 46% of tenants expected to own their property within five years. This means the majority are expecting to continue renting for a few years to come. The report highlights that only 16% had moved or considered moving because of Covid-19, and tenancies are looking stable.
• Landlords leaving the sector: 83% of lettings professionals report landlords leaving the sector, more than you would expect to see in a normal year. This means agents must ensure that they are allocating the necessary resources and taking the right approach to continue attracting new landlords, especially if they want to see growth in the market.
• Lack of rental stock: Letting agents of all sizes are reporting their businesses have struggled due to a lack of stock of the last year. 54% of smaller agents (up to 200 properties) reported this as an issue, whilst 70% of agents with 500-999 properties raised this as a concern.
Looking ahead
While optimism among agents is down from the previous report, it remains relatively strong, with 67% saying they felt very or somewhat optimistic about the future of the lettings industry. However, with 32% of agents stating a lack of stock as their main concern, winning more landlords and finding new ways of generating revenue are among the top priorities in the coming year.
In addition, ongoing concerns around legislation and compliance will continue to shape the sector, especially with the Renters Reform Bill on the horizon.
Adapting to the changing circumstances of the past 18 months will have been a priority for all agents, landlords and tenants, but looking to the future, there is a need for agents to assess how they remain competitive by tackling the challenges ahead.
Greater innovation
We have seen the industry embrace innovation and technology, with only 1% of survey respondents saying they do not use any form of technology in their business. The sector will need to continue evolving to attract, engage and retain all existing and potential stakeholders.
No Letting Go
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
With a full range of property inventory services and nationwide coverage provided by a network of over 80 offices, No Letting Go is the one-stop-shop for property inventory services. We take the stress and strain out of property management for letting agents looking to meet the high expectations of their corporate clients.
What is expected from corporate letting agents?
We understand that managing corporate lettings comes with its trials and tribulations, but there is one constant factor, and that is the high standard of letting accommodation that corporate clients expect. This puts pressure on corporate letting agents to go that extra mile in a very competitive market.
The condition of a property needs to make the tenant feel as though they are the only one who has ever lived there. This means spotting and making repairs quickly and having the tools to make a thorough assessment while still facilitating a swift turnaround when necessary.
The challenge for corporate letting agents is to allocate the time and resources required to ensure that corporate lettings are consistently maintained to the highest high standards. Partnership with an efficient inventory management specialist can make this work much more straightforward.
How we support corporate letting agents
No Letting Go’s range of property services creates and maintains an agreed set of standards without any drain on letting agents’ resources, allowing them to direct their attention towards business development. We provide this service through our extensive range of inventory services:
• Pre-tenancy processes
• Check-ins
• Mid-tenancy checks
• End of tenancy inspections
Standards and safety
Before the tenant moves in, the standard is set and then maintained throughout the tenancy. Any issues are spotted early, and both tenants and landlords will feel assured that they are being dealt with. In addition to these checks, we produce smoke and CO reports and Legionella risk assessments, ensuring tenant safety and landlord compliance with the law. Our services also extend to estate and block management services, conducting visits at agreed intervals to inspect and test fire systems, estate facilities, cleanliness and maintenance.
Standards and safety
Before the tenant moves in, the standard is set and then maintained throughout the tenancy. Any issues are spotted early, and both tenants and landlords will feel assured that they are being dealt with. In addition to these checks, we produce smoke and CO reports and Legionella risk assessments, ensuring tenant safety and landlord compliance with the law. Our services also extend to estate and block management services, conducting visits at agreed intervals to inspect and test fire systems, estate facilities, cleanliness and maintenance.
Attracting tenants
In addition to maintaining your property and setting the required standards, we provide 360 virtual photography, creating immersive imagery which offers a wide range of applications but is particularly useful for providing potential clients and tenants with a virtual, but detailed, tour of properties, especially for those coming from overseas.
The benefits of experience
Our extensive experience in managing inventory services lets us know what to look out for and work proactively, delivering efficient inventory management from start to finish.
Our digital inventory platform ensures easy access to reports and a quick turnaround with our DigiSign technology so that tenants can sign reports electronically, with minimal contact needed. Not only does it save them time, but it also reassures clients who may have concerns about social distancing.
No Letting Go
Maintaining your property, keeping tenants happy and assuring the high level of service demanded by corporate clients require investment in time and resources; we can help you deliver and maximise your ROI.
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
The Tenancy Deposit Protection scheme was introduced in April 2007, but what is it, how does it work and how does it impact landlords and tenants?
What is the Tenancy Deposit Protection Scheme (TSPS)?
A landlord who takes a deposit for an Assured Shorthold Tenancy must place the deposit into one of the government’s three approved tenancy deposit protection schemes, confirming within thirty days in which scheme the deposit has been placed. At the end of the tenancy, the deposit must be returned within ten days.
The scheme was set up to protect a tenant’s deposit, but it offers another benefit. When a landlord feels they have a legitimate right to withhold some or all the deposit, the tenant disputes this. The TDPS offers free adjudication to help the parties resolve the matter.
Why are deposits disputed?
In the year up to March 2021, deposit disputes occurred in 0.76% of cases of tenancy deposits protected in England and Wales. While this percentage may seem low, this still reflects 29,697 disputes, and with the value of deposits in schemes in March 2021 standing at £4.3 million, it becomes clear why there’s a need to secure and manage deposits effectively.
Tenants, agents, and landlords can raise disputes through the deposit protection scheme, but 75% are raised by tenants – a warning to landlords and agents that they should have good property management processes in place. What these processes should cover is illustrated by the reasons for those deposit disputes.
Cleaning: 49%
Damage: 35%
Redecoration: 26%
Gardening: 12%
Rent arrears: 15%
How to avoid tenant deposit disputes
Any landlord or agent who has been involved with a dispute over a deposit will testify to the inconvenience and cost in time and extra administration they cause and why it’s a worthwhile investment to ensure regular oversight of your property.
The reasons for disputes detailed above illustrate that, in many instances, disputes about deposits can be avoided with a robust inventory process in place that captures all the necessary detail regarding the state of the property.
Being able to present a tenant with clear evidence of changes in the property and explain why a deduction is being made will help them understand why you are taking action, making them less likely to contest a deduction.
At No Letting Go, we have invested in a range of property inventories to efficiently manage check-in, check-out, and mid tenancy assessments. Our digital platform, Kaptur, has been designed specifically to assess and detail all the key aspects of a robust property inspection. Using a detailed inventory and photographic evidence, our independent professional experts instil confidence in tenants about the objectivity of their assessments.
Happy tenants help landlords and agents build a good reputation and attract more of the kind of tenants they want, so avoiding disputes through good property management practices is good business and a worthwhile investment.
No Letting Go
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
The future looks bright for build-to-rent investors and tenants. Even during a downturn triggered by the Covid-19 pandemic, build-to-rent fared better than other parts of the rental sector, and it looks to go from strength to strength.
Where it all began
Build-to-rent is not unusual in other parts of the world, such as the USA and Europe, but it wasn’t until 2012 that the UK saw its first build-to-rent development. It was part of the 2012 Olympic Games legacy that the East Village on the Olympic Park, originally accommodation for the athletes, would be turned into homes. This was the first step in build-to-rent, and we haven’t looked back since.
What’s happening now
If you want to see what’s happening in the build-to-rent market now, the statistics and changes happening in the sector paint a clear picture.
Between 2017 and 2018, the completion for build-to-rent properties reaching the market grew by 1%. Compare that to 2018-19, and completions jumped by 54% annually.
Although build-to-rent saw an impact from Covid resulting in a decline of 20% in 2020, the number of completed homes is impressive, having increased by 23% from the fourth quarter of 2019 to the fourth quarter of 2020, with an additional 22% more projects in the planning process and 5% more under construction, according to the British Property Federation.
Driving this trend are people’s changing perceptions of renting. For those not wanting or unable to take on the financial commitment of a mortgage, renting is more favourable, and this shift is not going unnoticed by investors. John Lewis announced plans to construct 10,000 homes to let in their car parks and warehouse sites, and other big names such as Lloyds and Aviva are seeing opportunities to invest. This will continue to drive the growth of build to rent as more properties and choices become available.
Where is the BTR market going?
In the first quarter of 2021, plans for nearly 7,000 new build-to-rent homes received planning permission, the highest of any previous quarter and it is forecasted that by 2025, more than £75 billion will have been invested in the build to rent sector. The sector is preparing for a substantial increase in demand driven by changes coming over the horizon.
City locations such as London, Manchester and Glasgow will remain popular, but developments are spreading to more suburban areas; residents here will be looking for something different that appeals to families, widening the appeal of build-to-rent. In these locations, houses rather than apartments will be built, and different amenities such as schools and outdoor play areas will be desirable.
Increased demand for rental properties from the over-65s, who are also attracted by the prospect of developments focused on community and greater amenities, is another growing opportunity in build-to-rent developments. Still, it is also argued that to have a truly deep impact on the rental market and continued growth, properties for lower-income families will also have to be built.
A resilience to challenging times and the desire to diversify to meet the demands of different kinds of residents means that it’s “onwards and upwards” for the build-to-rent sector, and many investors will be keeping a watchful eye on what happens next.
No Letting Go
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
These are exciting times for the build-to-rent sector as these purpose-built rental properties begin to change the face of the rental market and raise tenant expectations. A key attraction of this type of development is the sense of community it can foster; if this is important to you, where are the best neighbourhoods to locate build-to-rent premises in London?
What is build-to-rent?
In a world where renting is popular, partly due to lifestyle choice and the financial demands of buying a property these days, renters are becoming more discerning, looking for somewhere that reflects their lifestyle choice but gives them the quality of living they expect.
Build-to-rent developments are specially designed and purpose-built for renters; they are not for sale and are owned and maintained by a landlord who looks after the entire development and the services on offer. Furnished or unfurnished, ready to go with hi-speed Wi-Fi, clearly set costs and long lease options. They are designed to make renting as attractive and easy as possible – a great alternative to homeownership or more “traditional” rental arrangements.
Top 10 most popular London buy-to-rent communities
The growing popularity of build-to-rent means developments appear up and down the country, in popular locations such as Manchester, Birmingham and Bristol. But London, where it all started, remains a popular location.
With plenty of rental opportunities to choose from, a good starting point is to look at some of the most popular build-to-rent communities already established:
• Be:here Hayes: offering pet-friendly homes
• Tipi at Wembley Park: a six-building development
• Chapter Portobello: a student hotspot
• Union Wharf Greenwich: a short walk from the centre of Greenwich
• Fizzy Hayes: Convenient commuting
• Get Living Elephant Central: an excellent central location
• Greystar Charter Place Hounslow: includes an on-site gym
• Movebubble homes Kew: just 15 minutes from Kew Gardens
• The Assembly Wembley central: high-spec properties
• George Street Canary Wharf: a popular location
What do tenants look for in a BTR development?
These exciting developments, designed by architects to enhance modern-day living and styled by interior designs to reflect aspirational living standards, offer common features that make these properties popular with residents.
As always with properties, location is key. Developments are often situated to take advantage of easy access to good transport links and are in popular or up-and-coming parts of London where major investment and redevelopment are already happening and offer great surroundings in terms of open spaces and amenities.
Communal spaces are integral to what these properties offer, with areas such as games rooms, exercise spaces, roof terraces, lounge areas and even workspaces, very different from what can be expected in a traditional rental property.
Some also enjoy integrated commercial and leisure facilities, such as shops and restaurants, supporting a thriving community. 24-hour, on-site service teams and concierge services add to convenient living, a higher level of comfort and the peace of mind in knowing that problems with the property will be dealt with effectively.
The variety of locations and what these developments offer make it easy to see why communities in build-to-rent developments enjoy living where they do. With many more build-to-rent properties in construction and planned, the choices in location and styles are set to increase. This can only be great news, not only for anyone looking to live, work and play in London but also for potential investors and landlords.
No Letting Go
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
Over the past ten years, the number of private renters has doubled, with 20% of people now living in rented accommodation. There is a need to meet this increasing demand, and build to rent may provide the solution.
The rise of build to rent
Build to rent are new build developments designed specifically for residential lettings rather than sale and to help meet the increasing demand in the rental sector, build to rent is expected to more than double over the next five years, with the British Property Federation predicting a staggering 200,000 build to rent sites being developed within the next two years.
What’s the attraction of build to rent?
So why are more investors, including John Lewis Partnership, moving into the build to rent developments and why are such developments attracting more tenants?
• Demand for rental properties makes build to rent developments a good investment with the potential for healthy returns.
• Potential tax incentives for developers of build to rent properties
• For those who choose not to buy or can’t afford to, more bespoke developments offer more and better quality rental options.
• Developments are maintained by a single landlord, with a clear line of responsibility, complaints procedure and reassurance that these properties will be well maintained.
• Longer tenancy options offer security for tenants.
• Rent structures are clearly set out, including a basis for increases and no upfront fees such as admin charges, attractive to tenants.
Points of caution
As with any investment, there are points of caution for a would-be investor to consider:
• Tenants don’t always want to be locked into the longer tenancy terms which property owners prefer to guarantee their income.
• It isn’t easy to find lenders for these schemes, so the initial capital may have to come from the developer’s own resources, favouring larger investors.
• This is not a way to a quick return on investment.
• The high-end spec of build to rent properties makes them more expensive to rent and may exclude many potential tenants.
• Larger tenancy blocks need a professional management system in place to ensure legal obligations are being met, the property is well maintained, and tenant safety is protected.
Meeting future expectations
Build to rent developments are setting higher standards for rental accommodation, offering more facilities such as communal areas, gyms and workspaces and providing homes in areas with good local amenities, transport links and access to work.
The type of tenants they attract are also likely to expect a high standard in building management, so having the right processes in place to ensure standards keep being met, especially when you are making this level of investment, will be critical to ensure maximum occupancy.
Building specifically for a rental market should be a win-win for property owners and tenants so long as both offer what the other wants. It will be exciting to see the impact this sector has on the evolving rental market.
No Letting Go
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.
Landlords and letting agents know the importance of looking after their properties and tenants in protecting their investments, but we have witnessed changing times over the past eighteen months. What new challenges to fulfilling these duties do these changes present?
The essential work of block management
To ensure proper maintenance of a residential block, inspections must be conducted regularly, and they should cover cleanliness, maintenance and fire and safety. There are several aspects to consider within each of these areas to ensure that a comprehensive inspection stays at the top of your legal and statutory obligations as a landlord or letting agent. The range of block management inspections offered by No Letting Go shows how thorough you need to be.
These inspections provide a full audit trail of issues raised, work undertaken and work to be done. Being able to remain on top of your block management and fire safety means that you can prevent larger, long term maintenance bills from problems left unnoticed. It’s also important not to underestimate the value of inspections and their positive impact on maintaining the rental value of your property.
Adapting to changing times
The importance of block management and fire safety never goes away. Responsibilities may evolve as legislation and statutory requirements change, but they remain essential in every landlord’s and agent’s duties for the welfare of residents and the protection of their property investment. More than ever, we need to make sure that the maintenance of properties and the welfare of their residents is a priority.
Due to lockdown, people have been spending more time at home, in shared facilities and in communal areas used more. People have also adapted their homes to support changing needs, such as working from home. The pressure of keeping on top of the maintenance, cleanliness and safety of residential blocks has grown, and those responsible for managing the work have had to ensure that their existing processes can adapt in response.
Flexibility is key
Flexibility is critical to adapting to changing requirements and circumstances. This means having access to a broad range of inventories that can be tailored to the specific needs of a property. Also important is the ability to increase or decrease the frequency of inspections as needed, access to inventories for those who need them, quick access to the database of audits and the ability to manage your inspection regime remotely (including obtaining signatures digitally).
While No Letting Go’s comprehensive block inspections are tailored to its needs, the technology we use and our national network effectively deliver the flexibility to perform these duties when and where needed. Cloud-based, to give easy access at any time, our services are supported by experts who complete inventories as frequently as needed and advise on audit outcomes.
Keeping on top of your block management makes commercial sense as well as meeting your welfare responsibilities to life and limb. A well maintained and safe living environment will attract and retain residents, and the inventories you use will be essential to achieving this goal.
No Letting Go
If you want to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your cost and reduce your workload, then contact No Letting Go today.