Urgent Landlord information Deposit legislation!!!
Are you aware that the government introduced new legislation compelling all landlords to register their tenants deposit in a protected scheme?
From 6th April 2007 any deposit taken after this date needs to be registered in the one of the following schemes TDS, TDSL or DPS.
The legislation also includes renewals where a new fixed period is made on an existing tenancy. The legislation doesn’t include “periodic” tenancies where the tenancy has been allowed to roll over. However if you require a rent increase on a “periodic” certain statutory notices have to be served. |
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New Management
Middlesex Property Management Ltd are delighted to announce, due to our experience in collection of rents, lease renewals and property management our clients feel we are competent to manage a further 521 properties.
We are pleased with this new management and look forward to serving our clients well.
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Middlesex Property Management Ltd has recently been requested by a large high street name to bring back into rentable condition 16 of their vacant properties. Middlesex Property Management Ltd came up with a reasonable proposition, securing funding to enable this work to be done.
The refurbishments will start soon and as the properties are brought up to standard they will be re-let. Our client’s portfolio’s income will increase and someone else will then be paying the council tax and utilities!!
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Many Landlords and Lettings Agents are aware of the new laws regarding Houses in Multiple Occupation introduced in the Housing Act 2004.
This requires Landlords or Letting Agents with properties of 3 storey or more with more than 5 individual households to be licensed.
The idea of the legislation was originally to have a national scheme that everyone understood. This would make it easier for Local Authorities, Landlords and Letting Agents to recognize a HMO and act accordingly as there would be one definition across the country for all Local Authorities. This all sounds great, and it is hoped that through this it would be easier to uncover disreputable Landlords and bring them into line. |
What you may not be aware of is, Additional Licensing, where Local Authorities can in effect decide their own criteria in addition to the standard licensing.
For example, the London Boroughs of Ealing, Hounslow and Hillingdon criteria for HMO’s under Additional Licensing includes flats and 2 storey properties with more than 2 households. Therefore, if you have 3 individual tenants in any property, self contained or not, converted or not, you may have to register that property. Failure to apply for a license is an offence under Section 72 (i) of the Housing Act 2004 for which a person may be fined up to, £20,000. That fine will be levied on the person responsible for the property, which maybe a Landlord or Agent/Property Manager.
WE CAN ADVISE YOU FULLY ON ALL THE ABOVE MATTERS.
CALL US
NOW 020 8840 7747!! |
