Whilst the Tory pledge to get rid of Section 21 does not appear likely to be implemented anytime soon, we still worry as both Labour and the LibDems have similar policies. To that end, we have been actively collecting data and participating in consultation activities - for example, this month PDPLA Vice Chairman, Alwin Oliver, submitted a collection of case studies and suggested alternatives such as a new Housing Court styled on the Canadian solution - PDPLA members can see it here in the members area. Highlights follow…
Whilst HMRC are making positive noises about the progress of MTD, those businesses which pay VAT had to start submitting quarterly returns this year. Of the one million businesses affected, nearly one quarter missed the August 7th deadline to submit their 1st return.
A number of members have complained to us as PCC have asked them to confirm that they test fire alarms weekly. Please note - as a Landlord you DO NOT need to test fire alarms weekly. In fact, it would be an intrusion on the privacy (and the 'entitlement to QUIET enjoyment") of your tenants if you did. Read on for the current situation…
Committee member, Jonie Goldenberg had the following thoughtful piece published in the Portsmouth News this month: "The Corporate Landlords do a hard sell - and I am not surprised at £200 per week per room for student accommodation equating to £10,200 per unit for the 51 weeks in the 256 unit high rise, earning in the region of £2,600,000 per annum for the company Prime Student Living. Multiply that by the number of new Halls that have been built. 'A nice little earner'. By a company who has not come up with the goods on time and sees fit to axe students' contracts without a thought of the associated problems faced by many first year students and their families. They will think twice about coming back to Portsmouth University. This is also not the first year this has happened."
Having won our 1st appeal (over an adequately sized room that PCC believed to be too small) last month, this month the next 7 cases came to court. We hope the decision of the 2 judges will be available in the next few weeks and when it is, we will share it.
In the interim, some observations and recommendations for all concerned.
Portsmouth based peer-to peer (P2P) lending platform, Lendy, which lends money to property developers has collapsed after intervention from the Financial Conduct Authority. Lendy was setup in 2013 and was one of the bigger P2P property lenders with around 22,000 investors tempted by advertised returns of up to 12% and assurances that they could hand over money with "complete peace of mind".
This is a blow for the city - we create too few new jobs as it is, especially in the high growth areas where the UK has a lead such as FinTech, AI, etc. but unfortunately, it would appear this promising star was badly managed and has paid the price.
It is common across all industries, but the practice of conducting a survey and then publicising the results seems to be the bane of landlords across the country. Wherever we look there is a new survey telling us, and others, what we do or don"t know, whether we are buying or selling - in fact everything except (and I may be wrong), what the typical landlord eats for breakfast. (If you want to answer that one, come along to our next Landlords Breakfast).
The bad news is that the majority of these articles and surveys are just plain wrong. Not just 'bad science" but 'bad journalism too". Let me explain….
The recommended suppliers list in the members area of the PDPLA website just added a new cleaning company, recommended by PDPLA member Kiera Lea. The company is Eldraw Cleaning and they cover south hampshire providing both domestic and commercial cleaning services.
Thanks to local solicitor and PDPLA member John Saulet for sharing links to the government forms to be used in relation to the tenant fee ban introduced on June 1st and reported here previously.
This article is copied from the RLA news this month in case you missed it -
The RLA believe that Shelter"s claims over the impact of changes affecting the private rental sector in Scotland are misleading.
Scotland has recently abolished so called 'no-fault" evictions and fixed term tenancies, as well as banning fees and introducing rent controls.
In a report out this month Shelter concludes these changes have been a success - and have not had a profoundly negative impact on the PRS north of the border.
However, the RLA has a number of issues with the report.
Written & oral information and advice from the Portsmouth & District Private Landlord's Association is given in good faith, but no responsibility whatsoever is accepted by the Association or it's officers for the accuracy of it's information & advice nor shall the Association be held responsible for the consequences of reliance upon such information.