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October 28, 2019 by Tom

Leicester Selective Licensing Scheme

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • October 28, 2019

Leicester Selective Licensing Scheme

Leicester City Council are introducing a Selective Licensing scheme to areas of the city where there are high levels of private rented accommodation. These include parts of:

  • Castle
  • Fosse
  • Saffron
  • Stoneygate
  • Westcotes
  • Braunstone Park and Rowley Fields

The scheme could also be introduced to other parts of the city if it was considered appropriate.

Under Selective Licensing anyone who rents out a property in a designated area would be required to be licensed by Leicester City Council. The council will check that the landlord is a ‘fit and proper person’ and, through compliance with licensing conditions, is providing safe and well managed accommodation. A landlord in breach of their licence may be issued a civil penalty or be prosecuted.

Selective Licensing schemes and other measures that might be necessary to improve the
social or economic conditions of the area are funded by licensing fees. The schemes run for a period of up to five years.

Leicester City Council is working towards a Selective Licensing scheme for less than 20% of the city’s private rented sector and less than 20% of the city’s geographical area. This means that the designation can be made by Leicester City Council and does not require confirmation by the Secretary of State.

The benefits of a licensing scheme to both tenants and landlords …..

Peter Butlin, Director of Leicester Letting Agent Butlin Property Services, advised that the company will be providing a free service to landlords affected by the introduction of the licensing scheme. ‘This is not only to existing clients’, he said, ‘but also to landlords in general.’ Peter acknowledges that the majority of landlords will have little work to complete to comply with licensing requirements and it will largely be an inspection and form filling exercise.

However, Butlin Property Services will help with the process and will identify any requirements to meet the licensing standards, advising landlords accordingly.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

October 28, 2019 by Tom

Benefits of Selective Licensing in Leicester

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • October 28, 2019

Benefits of Selective Licensing in Leicester

Selective licensing schemes are introduced by Councils to deal with concerns over the standard of privately rented properties in particular areas. These concerns range from Health & Safety concerns, inadequate living standards to anti-social behaviour by tenants.

Landlords have a legal responsibility to protect their tenants’ welfare and to the wider community. 

Selective Licensing will therefore improve the condition of rented property and the wider environment. A number of areas in Leicester and South Wigston have been highlighted as having particular problems with poor standards of accommodation and anti-social behaviour.

The areas identified are not the first choice for tenants and this reflects, amongst other issues, lower than average rents and investment property values.

Any scheme therefore designed to improve standards throughout an area can only be to the benefit of both landlords and their tenants.

Tenants will potentially be happier and more settled in their accommodation. This means they may well want to stay longer.

Landlords will find that improvements in their area attract more tenants. Higher demand will lead to higher rent levels, and the value of investment property is likely to increase accordingly. The fact that tenants are more settled will lead to less periods of unoccupancy which are most costly to landlord returns.

The cost of bringing property up to Licensing Standards is likely to be met by the benefits any scheme provides. Those landlords that stay ahead of the game will also be in a prime position when it comes to letting their property.

For a full appraisal of the letting potential of your property please do not hesitate to contact the Lettings Team at Butlin Property Services on lettings@butlinps.co.uk or 0116 274 5778 option 1. Butlin Property Services Ltd are a member of ARLA Propertymark approved by Selective Licensing schemes.

South Wigston Licensing Scheme

Leicester Licensing scheme

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

October 28, 2019 by Tom

South Wigston, Leicester Selective Licensing

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • October 28, 2019

South Wigston, Leicester Selective Licensing

Oadby and Wigston Borough Council gained agreement on 5 September 2019 from the members of the Licensing and Regulatory Committee to commence with a proposal to introduce a selective licensing scheme for rented properties in South Wigston, Leicester.

The Housing Act 2004 gives Councils the power to introduce Selective Licensing Schemes for privately rented properties in order to improve standards of management in the private rented sector (PRS) and lead to an improvement of the area.

South Wigston has been selected as it has areas of high crime and anti-social behaviour and almost one in three properties in the private rented sector currently fail to meet the ‘decent homes standard’. This can have an adverse impact on the health and welfare of the tenants and the wider community.

The scheme aims to improve the standard of housing and raise pride in the area and reduce crime and anti-social behaviour by ensuring that private landlords meet satisfactory standards or tenancy and property management.

The benefits of a licensing scheme to both tenants and landlords …..

The Selective Licensing scheme would apply in the South Wigston Ward initially, an area bounded by Dorset Avenue to the north and Saffron Road to the west, the railway line to the east and the canal to the south.

Oadby and Wigston Borough Council will commence their consultation on 6 September 2019 and it will be open for 10 weeks until 14 November 2019.

Peter Butlin, Director of Leicester Letting Agent Butlin Property Services, advised that the company is offering a free service to landlords affected by the introduction of the licensing scheme. Peter acknowledges that the majority of landlords will have little work to complete to comply with licencing requirements and it will largely be a form filling exercise. However, Butlin Property Services will help with the completion of the forms, and will identify any requirements to meet the licensing standards, advising landlords accordingly.

The Fee

Each property will need a licence and each licence will run for up to 5 years. If the property is let to a single family the fee for each licence is £805.00. However, landlords can pay a discounted fee of just £50.00 if the property is managed by an ARLA accredited agent such as Butlin Property Services.

This discount is only available for the first 3 months of the scheme or for any property thereafter that is being rented for the first time.

Any landlord who is found to be renting a property without having made a valid application 3 months after the start of the scheme will have to pay a fee of £1500.00.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

July 19, 2019 by Tom

Private Landlords in Leicester Discouraged

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • July 19, 2019

Private Landlords in Leicester Discouraged

It is clear that private sector landlords in Leicester and throughout the country are being discouraged through higher taxes and punitive legislation. Just when you feel that there is nothing else the government, or prospective government, can do to make it harder for a private sector landlord to operate, something else gets thrown into the mix.

As Mrs May has now resigned as Prime Minister and the race has started for her replacement, the Labour party are starting their campaign for leadership in preparation for the next general election; with that come promises, sound bites to attract various groups into voting for them, and Labour party plans for government.

The Labour Party has commissioned a report, ‘Land for the many: Changing the way our fundamental asset is used, owned and governed’. Edited by George Monbiot and contributions from Robin Grey, Tom Kenny, Laurie Macfarlane, Anna Powell-Smith, Guy Shrubsole and Beth Stratford, it has several proposals in it, probably the most radical being that the responsibility for Council Tax should be removed from the tenant and put squarely back on the landlords’ shoulders. A new ‘progressive property tax’ would be introduced, set nationally by the government, rather than as it is at present, by the local authority.

For the landlords who decide to leave their properties empty, the new property tax would be set at a higher rate – there will be no escape from the property tax. It will be equally punitive to owners of second homes and properties owned by non-resident owners.

As might be expected from the Labour party, the aim is to ‘discourage the use of homes as financial assets, reduce the tax paid by the majority of households and encourage more efficient use of the housing stock’.

More efficient? In whose opinion is that? Sorry, it is obviously Labour’s. Remember how they failed to solve the housing crisis when last in government? But apparently, by making the tenants more dependent on the landlord, by taking the responsibility for the payment of council tax for the services they need away from them – this will increase efficiency?

Landlords in Leicester are already reducing their portfolios; they are maligned for having the audacity to ask for rent; they are criticised when they want to evict a nuisance tenant. It is being made harder and harder for a landlord to manage their properties in a way that will make their investment worthwhile; will this lead to a vibrant and healthy private sector?

The answer to that one is ‘No!’. The sector will get smaller, there will be fewer landlords ready to put their pension funds into property. Can social landlords make-up for the shortfall?  Optimistic politicians doubtless believe they can, but is it reasonable to believe this?

Various pieces of research indicate that for ‘generation rent’, for older people, for those on insecure incomes or benefit dependent, the private sector will be their only option, if property need exceeds the supply of social housing. At least 25 per cent of the population are anticipated to be housed in the private sector by 2021.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

July 15, 2019 by Tom

What Rent Should Leicester Landlords Charge?

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • July 15, 2019

What Rent Should Leicester Landlords Charge?

Setting the right rent levels is fundamental for Leicester landlords to achieve the maximum potential of their property. There are certain things that are common sense when considering how much rent landlords in Leicester can charge. The key is how to calculate what is a fair rent, that is appropriate for your properties and will keep your properties tenanted as long as possible.

Landlords in Leicester are operating in a competitive market. As competition between the major supermarkets will determine whether we shop at Asda or Tesco, so will competition between landlords determine whether one operates at maximum capacity with a waiting list and one scratches around for tenants on a regular basis as his tenants move on.

Is the rent you want at the right level?

  • Compare with similar properties in the area. Rent can differ considerably around Leicester and Leicestershire according to location of the property.
  • Is the property with the lowest rent also the one with the most basic amenities? The standard of your property will help it compete with properties in the area.
  • Is your property for example freshly decorated with an en-suite bathroom?
  • Look at the facilities you provide and advertise them – Wi-fi, washing machines, new carpets, close to amenities are all worth mentioning.

Be clear about how services are charged for and what is included in the rent. If there are additional payments, be up-front about them and prove how the charges have been calculated. If a house is in multiple-occupation, the landlord is still responsible for Council Tax, though if all tenants are students, this should provide exemption. But, if even one of the tenants leaves the University course, whether working or not, the exemption is eradicated.

Rent should be calculated to provide a profit for the landlord. If there are extras to pay, the landlord must be prepared to prove to the tenant that these charges are reasonable.

Butlin Property Services have been providing professional services to landlords in Leicester and Leicestershire since 1996. Landlords are welcome to contact the Lettings Team for free, no obligation avice on the rent levels that their property can achieve. We will help you to achieve the potential of your rented property.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

May 21, 2019 by Butlin Property Services

How Does the Tenant Fee Ban Impact on Leicester Landlords and Tenants?

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Butlin Property Services Butlin Property Services
  • May 21, 2019

How Does the Tenant Fee Ban Impact on Leicester Landlords and Tenants?

Leicester letting agents and landlords will be aware that the Government announced on 23rd January 2019 that the Tenant Fees Bill will come into force on June 1st 2019. This piece of legislation bans letting agents and private landlords from charging fees to tenants in order to set up a new tenancy or renew an existing tenancy.

What does it mean?

The ban would apply to tenancies signed after 1st June 2019, there must be no fees charged to tenants for tenancies starting after this date.

How does it affect private landlords?

The Bill applies to private landlords and their letting agents. Private landlords will need to review their processes and costs and consider the loss if they absorbed these costs, shop around and look at services which may alleviate the burden of costs and or time spent. Another measure may be to look at increasing rent, remember this needs to be a consistent increase for the duration and you are not permitted to front load your fees into the first months’ rent. Leicester landlords that use an agent should find out what they charge now and consider how they will replace that revenue. Letting agents have until now benefitted from charging letting fees to their tenants, supplementing the cost of running their business.  This benefit has certainly been a factor in the fees letting agents charge to landlords.

Peter Butlin, Director of Butlin Property Services Ltd, stated: “The issue of fees charged to tenants has been influenced largely by overcharging by many letting agents. Many letting agents in Leicester and throughout the country charge fees to tenants of half or more of the first months rent. This loss of income for letting agents will now need to be made up in some way and it is likely charges to landlords will rise accordingly. Butlin Property Services have always charged much lower fees to tenants. This more fairly reflects the work we have to do at the letting stages, and removes any cost barriers that would deter prospective tenants. Butlin Property Services will still need to recoup lost income to continue to provide a high standard of service, however, increased costs to landlords will be much lower than other letting agencies.”

What do tenants need to know?

A lot of effort has gone into publicising the proposed ban over the past 12 months particularly. There will still need to be an education to tenants around how they can enforce this and support groups like Citizens Advice and Shelter will help.

Put simply tenants need to be aware that from 1st June they cannot legally be asked to pay a fee in association with granting or renewing a tenancy. This includes application fees and fees requested from third parties such as reference companies. Tenants will have the right to query this with any agent or private landlord and should they pay a fee they can take action to recover the fees with the assistance of Local Trading Standards.

Conversely prospective tenants may find that the services provided by letting agents will be reduced and that rents will have to increase to cover the landlords’ costs. This will be through necessity as the running costs of the letting companies will need to be more cost effective.

Holding deposits are permitted at a cap of one week rent and can be held for a maximum of 15 days. The holding deposit can then be used towards the full deposit which is set to be capped at 5 weeks rent. The holding deposit must be returned in full where the tenancy does not go ahead within 7 days of the deadline or if the landlord backs out. Full repayment is not required where tenants back out, fail a right to rent check or provide false/misleading information.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

May 14, 2019 by Tom

Government announce mandatory electrical safety checks

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • May 14, 2019

Government announce mandatory electrical safety checks

The Ministry of Housing, Communities and Local Government (MHCLG) has announced in January that mandatory five-year electrical installation checks on private rented housing in England will be introduced in a phased approach.

Whilst the implementation date has not yet been clarified, MHCLG has stated its intention to introduce legislation as soon as parliamentary time allows, with letting agents and landlords being given at least six months to familiarise with the new legislation before it comes into force.

A transitional period will apply for two years. In year one, all new private tenancies will be affected and in year two all existing tenancies will come within scope.

Properties that already have a valid electrical installation condition report (EICR) will not need to replace it until five years have passed since it was issued.

Peter Butlin, Director of Leicestershire letting agent Butlin Property Services Ltd (BPS), stated Leicester letting agents must ensure that any inspectors hired to issue an EICR hold the correct qualifications and are competent to carry out the inspection. Tough financial penalties will apply where this isn’t complied with.

Peter Butlin stated that he welcomes private rented sector electrical testing by qualified engineers. This not only protects tenants but also provides better ongoing maintenance of their property and a marketing benefit for Leicestershire landlords. Butlin Property Services already recommend to their landlords that an electrical installation condition report (EICR) is carried out, and as a leading East Midlands leasehold block manager BPS already routinely carry out statutory inspections to communal areas of leasehold blocks.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

May 14, 2019 by Tom

HOW SECTION 21 NOTICE CHANGES AFFECT LANDLORDS IN LEICESTER AND LOUGHBOROUGH

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • May 14, 2019

HOW SECTION 21 NOTICE CHANGES AFFECT LANDLORDS IN LEICESTER AND LOUGHBOROUGH

CHANGES TO S21 NOTICES

The changes introduced by the Deregulation Act 2015 have applied to all tenancies since 1st October 2018. The new rules have applied to new tenancies for some time but from 1st October Leicestershire landlords and agents must ensure that they use the new style prescribed Section 21 Notice for all tenancies. Any old style Section 21 notices are invalid.

Many additional requirements introduced by this legislation now apply to all tenancies. Most, however, require items to be given to the tenant prior to entering into the tenancy.

The following must be given to the tenant and this should include any tenants prior to 1st October:

  • Gas safety record
  • Valid EPC
  • Latest version of the Government’s ‘How to Rent’ Guide
  • An HMO licence – if required

The law now says that a Section 21 notice will be invalid if these items have not been given to the tenant prior to the tenancy. By ensuring compliance at the earliest possible moment, a good defence could be mounted should the matter land up before the Courts.

Remember also that a Section 21 Notice can now expire on any day providing a full two months’ notice is given. (Different rules apply if the tenancy was a periodic tenancy from day one.) It seems obvious, but it is now law, that any overpayment of rent must be repaid when the tenant vacates the property.

The notice cannot, however, be served until four months of the tenancy have elapsed and it only has a ‘shelf life’ of six months – ‘use it or lose it’.

An Improvement Notice served by the Local Authority will mean that Section 21 notices will be invalid for six months.

HMO LICENSING (HOUSES IN MULTIPLE OCCUPATION

From the 1st October 2018 the definition of a licensable HMO as defined under the Housing Act 2004 changed for landlords in Leicester. The definition is now:

‘A property occupied by five or more people who form two or more households’.

The previous requirement of 5 storeys has been removed. There will now be many more licensable HMOs in the country and Leicestershire agents should ensure that they advise clients accordingly.

Minimum room sizes have also been introduced in the hope of stamping out overcrowding.

Local Authorities are becoming more and more interested in Standard HMOs. This is a property let to two or more households i.e. two unrelated people, but in the case of sharers the number is three.

If a family decides to let, or sublet, a room in their rented house they could easily be creating an HMO and not have any idea they had done so.

This would probably be unbeknown to the landlord or agent. For whatever reason the Local Authority could be alerted to the fact that this is now a licensable HMO. There is now the potential for the landlord to be fined up to £30,000 for not having a licence. There is also the possibility that the First Tier Tribunal could order the refund of up to 12 months’ rent.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

May 7, 2019 by Tom

TDS introduces suite of tools ahead of Tenant Fees Act

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • May 7, 2019

TDS introduces suite of tools ahead of Tenant Fees Act

Launched to coincide with the ARLA Propertymark conference earlier this month, TDS has become the first Tenancy Deposit Protection Scheme to introduce a range of free, online tools to help landlords and letting agents comply with incoming Deposit Cap legislation.

The Tenant Fees Act

As of 1 June 2019, landlords and letting agents in England including Leicester will only be legally allowed to take the equivalent of five weeks’ rent as a tenancy deposit on annual rents below £50,000, and the equivalent of six weeks’ rent if the annual rent is £50,000 or more on new or renewed tenancies. Any landlords or letting agents in England found to be in breach of the new legislation could face a fine of up to £5,000.

At this time, the new regulations apply to new and renewed tenancies beginning on and following 1 June 2019.  Tenancies will only fall under the cap if they are renewed for a new fixed term. Tenancies that become contractual or statutory periodic tenancies will not be affected.

What’s included

TDS’ free suite of information and tools includes:

  • A free online Deposit Cap Calculator which is available for letting agents to embed in their own websites. To request the TDS Deposit Cap Calculator for your website, please contact info@tenancydepositscheme.com
  • Landlords and letting agents can use the TDS Custodial Deposit Cap Solution which is a new ‘edit deposit amount’ function where they can increase or decrease the deposit amount if they need to repay a deposit above the cap after the 1 June 2019.  If a new fixed term tenancy is created the landlord or letting agent can simply change the deposit amount down to the new five or six week level and TDS will sort out the repayments back to the lead tenant.
  • If the deposit has been reduced, a Deposit Protection Certificate in the new amount will be available in the member’s online account. As with the TDS Insured scheme no new Prescribed Information has to be issued in these circumstances.
  • A dedicated Deposit Cap Resource Centre which hosts a suite of information on the incoming legislative changes. DepositCap.com is a one-stop-shop for all the information landlords, letting agents and tenants need to fully prepare them for the introduction of the Act.

The Resource Centre includes the Deposit Cap Calculator, a graphical timeline, example scenarios, guides, information and other tools to help provide clarity on how the Deposit Cap will affect letting agents and landlords and how to reduce the deposit they hold whether they use TDS’ Insured or Custodial scheme.

To see the suite of tools, please visit the deposit cap website.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

May 7, 2019 by Tom

Long-distant property rental investment – Leicester landlords be aware

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • May 7, 2019

Long-distant property rental investment – Leicester landlords be aware

ARLA Propertymark have commented on the recent article released by the Telegraph highlighting the implications faced by investors who let properties away from their local areas. This is particularly relevant to property investors in city apartments such as in Leicester and Loughborough where a high proportion of apartment sales are through property investment groups.

When it comes to becoming a long-distant landlord, higher returns may seem appealing, but investors may be left out of pocket, vulnerable to fraud, faced with unruly tenants or fork out large property management fees if they’re not careful.

Why investors may be tempted to buy long-distance

Lower house prices and higher returns in northern regions, including Leicestershire, Derbyshire and Nottinghamshire have tempted many to look further afield for their next investment opportunity. Expats and retirees abroad, owning and letting a UK property is often seen as a safe way to earn a strong return.

David Cox, Chief Executive of ARLA Propertymark said: “Landlords who are considering buying and renting out a property away from their local area are unlikely to be familiar with the market.

“It’s vital they research the area and familiarise themselves with local rents and whether there are any special licensing conditions in place.

“It makes it extremely difficult for landlords operating in the sector to grasp the ever-changing legislative differences.”

30-year-old Accountant, Chris Yates faced the disastrous consequences when he struggled to manage his properties in Kent and Norwich while living in Abu Dhabi.

Chris tried to let his property through friends of friends but was left nursing a £6,000 loss when a tenant illegally sublet one of his homes and stopped paying rent.

Mr Yates said: “I heard through someone else that the tenant had left the property. I had to ask a friend to go around and then somebody else answered the door. It was just by chance we found out.”

The illegal tenants had caused significant damage to Mr Yates’s property, meaning he had to foot the repair bill and try to restore the house from afar.

“I lost quite a bit given the damage in the house and I didn’t get any money back. I realised I was reliant on others to vet new tenants and use their judgment,” he added.

Peter Butlin, Director of Butlin Property Services in Leicester, said: “employing a suitably qualified and regulated agent is the safest and surest way to maximise a landlords’ rental income. By choosing appropriate tenants, ensuring compliance with statutory requirements, achieving the market rent for your type of property, and providing cost effective services employing Butlin Property Services will pay for itself.”

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

May 7, 2019 by Tom

Consolidation of agencies – is this the first sign of the Tenant Fees Ban taking hold?

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • May 7, 2019

Consolidation of agencies – is this the first sign of the Tenant Fees Ban taking hold?

ARLA Propertymark have commented on the figures discovered in their recently published March 2019 PRS report which states that there is a record number of homes available to renters.

In the latest report, an average of 203 homes are to let per member branch, up from 197 a month ago which is the highest since the association’s records began in 2015.

Key Findings

  • The number of tenants experiencing rent hikes in Leicester and Loughborough increased in February to the highest figure seen since August which is in line with the figures Nationwide
  • Supply of rental properties letting agents in Leicester and Loughborough managed remained the same while demand from prospective renters decreased
  • The number of landlords selling their buy-to-let (BTL) properties in Leicester and Loughborough rose to four per branch
  • Tenants in Leicester and Loughborough stayed in rental properties for 19 months on average and the average void period between tenancies remained at four weeks
  • The number of tenants successfully negotiating rent reductions fell

David Cox, CEO of ARLA Propertymark said: “Whilst it’s really positive that the number of properties available per branch hit a record high, this may be the first signs of the industry consolidating ahead of the tenant fees ban as agents either sell-up or merge. This, coupled with landlords exiting the market and rent costs continuing to rise, means the overall picture is far from positive for renters.

“The full effects of the tenant fees ban have not yet been felt, and now the Government is introducing yet more new legislation which will deter new landlords from entering the market, such as abolishing Section 21.

“Until we have greater clarity on the changes planned, this news will only increase pressure on the sector and discourage new landlords from investing, meaning rents will only continue to rise for tenants.”

Peter Butlin, Director of Butlin Property Services, said:

“The income of letting agents in Leicester and Loughborough are being hit hard by the tenant fee ban. Many smaller agents have sold up to the larger agencies or are looking at this option which is a worrying trend for landlords and their tenants. The impact of the loss of income to the larger agencies will inevitably result in job losses, a poorer service to tenants and increased fees for landlords whose income is already hit hard by recent changes.

Butlin Property Services, although hit by the tenant fee ban, have suffered less as:

  • their fees to tenants have always been much lower than their rivals
  • efficiencies in the administration of the business have allowed the same delivery of high service standards to their landlords and tenants without the need to reduce staffing levels or dramatically increase fees to landlords

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

October 8, 2018 by Tom

WHAT THE INTEREST RATE RISE MEANS FOR LANDLORDS

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • October 8, 2018

WHAT THE INTEREST RATE RISE MEANS FOR LANDLORDS

It’s finally happened: the Bank of England raised interest rates from 0.5% to 0.75%…

In November 2017 the Bank of England increased interest rates for the first time in 10 years from 0.25% to 0.5%.

Now, nine months later, they’ve risen again to the highest rates since 2009.

Those landlords on fixed mortgages will not be affected until the end of their fixed-term. Those on a variable mortgage will see monthly payments will go up. The average homeowner on a variable rate with £200,000 left to pay on their mortgage will see repayments increase by £300 over a year.

There are more than three million people in the UK on variable mortgage rates who could see an immediate, direct financial impact from the rate rise.

This is also likely lead to increases in rent, and the condition of property as landlords seek to recover lost income. It is also likely to encourage landlords in the future as the return from their investment  property is reduced.

The impact on the housing market remains to be seen. A likely outcome is however for many more households, unable already to get a foot on the property ladder, to be faced with unaffordable rents.

Now may be a good time to review your mortgage and see if you can get a better deal.

To protect yourself from future rate rises, look into locking in rates with fixed rate mortgage.

You can see what other deals are available online, or talk to a financial adviser.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

October 8, 2018 by Tom

Leicester Estate & Block Management Services

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • October 8, 2018

Leicester Estate & Block Management Services

Our Estates & Block Management Team at Butlin Property Services in Leicester have been providing estate and block management services since 1998. We provide services in Leicester and throughout the East Midlands.

The majority of our clients are Resident Management Companies that own the freehold interest of their development. The residents management companies we manage are primarily made up of the owners of the flats.

For further details visit our Estate & Block Management website www.butlinls.co.uk .

Many of our leasehold clients in Leicester, Nottingham and Derby are landlords. Landlords that sublet their flats appreciate the services we provide.

We understand it is important to provide cost effective services and maintenance solutions. We also understand that tenants are attracted to well maintained, high standard properties. Butlin Property Services apply these principles to our developments in Leicester, Nottingham and Derby.

In this way our aim is always to maximise the rent return for our landlords and those that rent flats in the developments we manage.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

October 8, 2018 by Tom

Buildings Insurance for Leicester Landlords

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • October 8, 2018

Buildings Insurance for Leicester Landlords

Landlords buildings insurance is one of a number of crucial aspects for our property investors in Leicester and throughout the East Midlands. Landlords buildings insurance is there to protect their investment. It will also provide suitable alternative accommodation for tenants in the event of a major incident.

Butlin Property Services provides high standard buildings insurance policies for their clients. Through UK Landlord Insurance Services Landlords in Leicester, Nottingham and Derby benefit from discounted, high standard landlord insurance policies. The insurance policies are provided by leading insurance companies such as AXA and AVIVA.

For further details visit www.landlordinsurance.uk.net

The savings for our Leicester, Nottingham and Derby landlords can be up to 20% due to the size of our nationwide block insurance policy. This is just one of the savings we negotiate on behalf of our landlords which largely offset out management fees.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

September 7, 2018 by Tom

Landlords Letting in Leicester

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • September 7, 2018

Landlords Letting in Leicester

If you are a landlord looking to let your property, or you’re keen to rent in the bustling and historic city of Leicester, Butlin Property Services are here to help.

Butlin Property Services is the largest independent local lettings agency in Leicester. If you have a property to let, or you are looking to rent a home in Leicester, our friendly and professional team can help.

Leicester is a vibrant and multicultural city in the East Midlands. It’s the largest economy in the area and its population has boomed in recent years. Considered one of the top places to live and work in the UK, Leicester has a wide range of bars, restaurants, shops, markets and more. Train and road links connect you to London, Birmingham, Cambridge and beyond.

The Highcross is Leicester’s shopping and entertainment hub, with 100 stores, restaurants, bars and a multiplex cinema. There’s also the New Walk Museum & Art Gallery, and the award-winning National Space Centre. There’s even something for history buffs. In 2012 the body of King Richard III was found under a car park in the city. A new visitor centre close to the site tells his story with impressive effects.

So whether you’re a landlord looking to let a property, or you want to rent a high standard home in Leicester Butlin Property Services can help.

We can help you let or rent property in Leicester

Whether you are letting or renting a property in Leicester, our specialists have the market knowledge and services to suit you:

  • Free rental valuations
  • Ever changing database of prospective tenants
  • Extensive choice of properties to rent

We use rightmove.co.uk and our own website www.butlinps.co.uk to market properties. We also advertise in local newspapers and across social media.

Butlin Property Services provides services from 2 well placed offices in Leicester and Birstall. The office is open Monday to Friday.

Butlin Property Services cover all areas throughout Leicester and Leicestershire from the University town of Loughborough in the North to Market Harborough in the South.

LE1, LE10, LE11, LE12, LE13, LE14, LE15, LE16, LE17

LE18, LE19, LE2, LE3, LE4, LE5, LE6, LE7, LE8, LE9

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

August 23, 2018 by Tom

Leicester Landlords and letting agents and the new licensing scheme

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • August 23, 2018

Leicester Landlords and letting agents and the new licensing scheme

Leicester Landlords and letting agents need to be aware of the new licensing scheme.

The licensing scheme is part of a plan to reduce the number of dangerous and sub-standard homes in Leicester.

Landlords that do not comply with their statutory responsibilities will be barred from renting out properties in Leicester through a planned licensing scheme.

Nearly a quarter of the 135,000 homes in the city are privately rented, and Leicester City Council officials say cases of dangerous and sub-standard living conditions, overcrowding and unethical behaviour by some landlords have prompted them to take action.

Full details of the scheme have yet to be drawn up but it is likely to be similar to the one that came into force in Nottingham in August, where a licence to rent out a property costs £2 per week and will only be granted if the applicant is deemed to be ‘a fit and proper person’ by the council.

Licences can be rejected if homes are not maintained to certain standards, if they are not insured or if the applicants has a criminal record.

It makes sense for all landlords to provide the best possible living conditions for their tenants and to give them the piece of mind that they live in a safe and secure environment. Staff at Butlin Property Services will assess the potential of a property for the landlord and advise them where they can increase their rental income by making cost effective improvements. Butlin Property Services will also ensure landlords meet the minimum safety requirements.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

August 16, 2018 by Tom

Why Landlords in Leicester Should Use Regulated Letting Agents

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham

Leading Independent Letting and Property Management Agency for Leicester & Leicestershire Villages

Butlin Property Services - Lettings & Property Management Agent - Leicester Birstall Loughborough Clarendon Park Oadby Derby Nottingham
  • Tom Tom
  • August 16, 2018

Why Landlords in Leicester Should Use Regulated Letting Agents

Why Landlords in Leicester Should Use Regulated Managing Agents with Accessible Offices and Staff

Finding a good tenant and managing the tenancy effectively are essential parts of being a professional landlord.

Why should landlords and property investors use a managing agent to manage a property?

Many landlords are perfectly competent to let and manage their property with the minimum of assistance. The purpose of a letting agent is to provide the professional assistance to landlords to ensure that the rent return for their property is maximised. If the landlord has a substantial portfolio or even just one property but also works, time can be a constraint. Letting agents are a valuable resource. They can deal with checking rental payments, renewing tenancies, visiting the property and dealing with any maintenance problems or issues that may arise directly with the tenant. This is particularly useful if the landlord is living out of the area or even abroad, as a local, accessible contact is imperative.

Landlords need to fulfill their obligations to tenants. Many landlords don’t live locally but need to act without delay if something goes wrong, such as stopping leaks and carrying out other emergency repairs. Even for landlords who live locally it can still be difficult to respond quickly enough.

What should landlords expect from a good letting agent?

You should also use an agent that is a member of a regulatory body that provides regulation of their members, ensuring the company members are properly qualified and providing client money protection.

ARLA Propertymark also require their members to be fully insured and to be part of the government Property Ombudsman Scheme.

The regulated agent will have a full understanding of critical matters such as the deposit schemes and regulations, statutory landlord obligations and tenancy law and enforcement procedures.Landlords should also expect an agent that offers excellent customer service and provides exceptional communication to ensure a seamless experience. This also relies on appropriate knowledge, qualifications and access to resources. Agents must be flexible and tailor services to their clients’ needs to ensure that all landlords are getting the best possible service and resources. The agent is the eyes and ears of the landlord and should be looking after their investment.

How can agents help landlords comply with the ever-increasing amount of legislation for the sector?

Butlin Property Services Leicester’s leading independent letting agent keep up to date with all changes in regulation and good practice advising landlords and protecting them from non-compliance.

Find US:

Butlin Property Services

40 Howard Road

Clarendon Park

Leicester

LE2 1XG

E: lettings@butlinps.co.uk
T: 0116 274 5778

Find US:

Butlin Property Services

77 Sibson Road

Birstall

LE4 4DX

E: lettings@butlinps.co.uk
T: 0116 274 5778

Filed Under: Blog

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Butlin Property Services
Leicester Office
40 Howard Road, Clarendon Park
Leicester LE2 1XG.

Butlin Property Services
Birstall Office
77 Sibson Road
Birstall
LE4 4DX.

E: lettings@butlinps.co.uk
T: 0116 274 5778


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