If you are renovating your property for the rental market, key tips you need to know for a long term approach!

NGU Homelettings and NGU Homesales - Customer Review!

My name is Mark Cosgrove and I just wanted to share my experience of Chris and Nigel Fitzakerley and the NGU group:

Universal Credit is the biggest shake up to the benefits system in the last 25 years. In a nut shell, when Universal Credit goes live later this year it will mean that any of your tenants on benefits will receive one lump payment per month.

Basic knowledge of what is happening to YOUR tenants in 2013 that are on benefits.

Do you know what’s changing? Don’t get caught short…

Changes to Housing Benefit & Council Tax - The biggest changes in 25 years!!

DPS launches new insurance
backed deposit scheme at cheapest rates on market.......          

Basic tenant referencing checks are not sufficient to protect a landlord against the possibility of future arrears, research from NGU can confirm, we found 5% of tenants we've vetted have one or more CCJ recorded at an undisclosed address.

As all Landlords should be aware, in April 2007 it became Law that all Assured Shorthold Tenancy deposits must be protected in a Government authorised tenancy deposit scheme.

The vast majority of tenancies end with the landlord and tenant agreeing over the return of the deposit.  Deposit disputes are rare but it makes sense to be prepared, so here are some tips to help you get started:

From the 1^st April 2013 new legislation being proposed by the government means that landlords will NOW be responsible for the Council Tax on unrented properties. At NGU Homelettings we have tried to stay ahead of the game by attending all the relevant Local Council Tax meetings to be fully informed of the changes. We have recruited one new member of staff and are in the process of recruiting another to enable us to hit this change head on.

UNIVERSAL CREDIT: A CLOUD OF UNCERTAINTY? WHAT WE KNOW SO FAR:

Over the last couple of years we have tried to keep our landlords upto date with the on-going changes to housing benefits.

In late 2010 we started to publish articles about the pending reductions in LHA that were to take effect from April 2011 and in late 2011 we published further articles about additional changes that affected under 35’s from January 2012 onwards. As a company we try to attend as many local council/private landlord association meetings as possible in order to stay ahead of pending changes and pass our knowledge onto our clients.

Last week I attended a meeting for private landlords at the Gateshead Civic Centre and in this article I will pass on information we discussed including further pending changes to the benefits system and the forthcoming introduction of Universal Credit.  All of these changes are still being finalised and so we will continue to keep you informed as more information is provided by governmental sources.

Friday 31st August 2012

Squatting in a residential property becomes a criminal offence from tomorrow in England and Wales.
The maximum penalty will be six months’ prison and/or a £5,000 fine.

The Green Deal is a brand new initiative implemented by the Government to facilitate the fitting of energy saving measures to millions of homes across the UK.  It has been designed to revolutionise the energy efficiency of properties throughout the UK.

UNIVERSAL CREDIT, CHALLENGING TIMES FOR LANDLORDS (Part 2) -

Last week we discussed the changes to Housing Benefit / LHA and the new payment of Universal Credit.  We explained in detail the new criteria for direct payment and how landlords may struggle to obtain it.  In this second article we are going to discuss the problems landlords may face, such as increased arrears, what they can do and our key concerns.

UNIVERSAL CREDIT, CHALLENGING TIMES FOR LANDLORDS - I'm not sure if people are aware but one of the largest changes to the welfare state is occurring next year, a whole host of different benefits are being merged into one single payment called the universal credit. This will mean Housing Benefit / Local Housing Allowance will be rolled into this credit which will have a massive affect on landlords, due to the limited provision of direct payment.

Wednesday 29th August 6:30pm - Free Food & Free Information!!

NGU Homelettings offers a property health check on all new properties that we take on for property management. This consists of a rental analysis to make sure that you are maximising your rent and a 792 point property condition report to confirm the current condition of your property.

This event is renowned for its quality and scope of information and is one of the industry’s leading events for landlords. It is therefore great news that they have decided to host an event in North East and with an expected 1,500 people; it should be a big event!

If your tenant suddenly moves out - does your Letting Agent know how to get housing benefits paid even though the tenant is in their new property?

If your tenant is on housing benefits and he/she suddenly moves out without telling you, housing benefits will stop on your property and the tenant will receive it for their new one unless you understand what a Dual Property Application Form is and know what to do with it.  

Guidance for Landlords- Housing Health and Safety Rating System

Since the Housing Health and Safety Rating System: Guide for Landlords and Property Related Professionals was produced by the government in 2006 (HHSRS), a tenant can now ask the council to inspect their property for any hazards and depending on the how the hazard is classified, you have a legal obligation to put right these hazards.  

NEW LEGISLATION HAS CHANGED EVERYTHING

Private Drains and Sewers Transfer

On the 1st October 2011, a major change in the way drainage in England is managed took place. Most private sewers and also lateral drains (the part of a drain which goes from the property boundary to the public sewer) which have previously been the property of private individuals, landlords or commercial property owners were adopted by the water and sewage companies, who then became responsible for all maintenance, including clearing blockages. Private drains within property boundaries were not adopted.

BUCKING THE TREND: NGU RENTS UP 7.3% ON REGIONAL AVERAGES IN 2011!

According to a recent BBC news article, average rents in the North East declined by 1.3% between December 2010 and December 2011. In stark contrast to this figure we have seen a rise in the same period as our rents at NGU have increased by an average of 6% across the portfolio. On paper this seems surprising given the harsh socio-economic conditions we are currently living in and the fact that other landlords seemingly appear to be experiencing loss rather than gain where their yields are concerned. So how have we achieved this?

In one of my previous articles I have mentioned that we are building a relationship with a government funded company which provides FREE boiler replacements, cavity wall insulation and loft insulation for tenants on housing benefits. I wanted to use this week`s article to give you an update on how we are getting on with this scheme.

Areas to be covered:

1. Preparing your property for let

2. Finding a suitable tenant

3. Keeping your property safe

4. Ending the tenancy- your property is returned in its original condition & ready to re-let

Homeowners are enjoying the cheapest mortgages on record thanks to historically low interest rates, new figures show. There was good news yesterday for first time buyers. The number getting their initial step on the property ladder increased markedly last year as banks become more willing to lend to those with only a small deposit. There was 57,301 loans of 85 per cent or more of the property price, up from 43,379 in 2010.

When tenants are in rent arrears, it is essential that as a landlord you are aware of yours and the tenant`s rights and the situation is managed lawfully and effectively. Read on to see the most frequently asked questions about rent arrear problems:

As a landlord who lets properties to tenants who claim Housing Benefits I want to make you aware of an important change to the level of Housing Benefit that can be paid to some people.

We regularly get approached by many new landlords asking us to help them with properties which have bad tenants in them and they don`t know how to get them out. As part of NGU Homelettings management we organise the evictions of any tenant for FREE.

Now you may be asking yourself, how can rental yields be increasing in this climate, people have less money now than they ever have? As a landlord you may be just happy having your property rented and are not bothered about yields as long as the mortgage is getting paid? At NGU Homelettings we carry out comprehensive annual reviews to not only look at the condition and safety aspects of your property but also to see how we can maximise your rent if it currently isn’t.

Keep your home free from damp, condensation and mould

This eshot gives some basic information about the different types of dampness that my affect your rental property. Condensation is probably the biggest cause of damp in rented properties. A lot of information and advice is included in this eshot to help you to identify and reduce condensation as well as treating the mould growth often associated with it.

At NGU Homelettings we offer high quality property developments and maintenance services. We can offer professional tradesman who deliver on quality as well as on cost. We offer:

Central heating service and repairs, electricians, painting and decorating, roofing, plasterers, tiling, glazers, locksmiths, carpentry, plumbing, cleaning, rubbish clearance, gardening, and general building work.

This is not an exhaustive list, if your requirements are not listed, we are confident we have the tradesman and contacts to meet your needs.

An unrivalled 24-hour, 365 days property maintenance and care service throughout the North East.

If you are a new landlord, what are your responsibilities?

If you have just started off as a landlord or you are thinking about becoming one, it is key that you know what your responsibilities are. There are numerous books and articles on the internet that you can read up on but I wanted to produce a 9 point check list which will help any new landlord or if you are an experienced landlord may just prick your ears up and make you double check things. E.g. is that gas certificate in date!

Free Seminar

LETTING AND PROPERTY MANAGEMENT

Tuesday 29^th November 7pm-9pm

Areas to be covered:

Assured Shorthold Tenancies- what is an AST and what should be in them?

Section 21 A and Section 21 B.

Tenants Fundamental Rights.

Abandonment.

Fundamental Repairing Obligations.

Local Housing Allowance- useful bits of information that will make all the difference.

NGU Homelettings and NGU Homesales- what we can offer you!

Guaranteed rents, tenants waiting to rent your property, no tenant find fees!

As landlords’ pockets are getting squeezed and competition amongst letting agents is getting more aggressive - is there such a thing as a free lunch? When I’m visiting our rented properties I see leaflets pushed through the door from letting agents offering guaranteed rents, tenants waiting and no tenant find fees. I also see the same strap lines in local newspapers and on the internet.  While these slogans appear good on the surface, is it happy ever after from there?

If you have a tenant in a property in Middlesbrough or Hartlepool who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in Stockton-on-Tees who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in the Redcar and Cleveland Locality who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in Newcastle upon Tyne who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in Darlington who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in North Tyneside who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in Northumberland who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in Durham who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in South Tyneside who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

If you have a tenant in a property in Sunderland who claims local housing allowance, it is key that you know about the change in the age limit for shared room rates. At NGU Homelettings we are experts in local housing allowance tenants and can offer the advice and help you need.

In my last article I went into detail about the changes that came into effect from the 1^st of April 2011 regarding Local Housing Allowance (LHA). I want to talk more about LHA and some of the misunderstandings that are out there and how a one size fits all approach does not work with every council. I also want to share with you again the changes in LHA that have come into effect from the 1^st April; specifically how these changes affect you as a landlord in the North East. Finally I would like to share with you what we are doing at NGU Homelettings as a result of these changes and how these make dealing with tenants on LHA a more smoother process.

Over the past few weeks we have been reading up on the pending changes, speaking to professionals within the industry and attending council meetings to make sure we are prepared for the following changes:

• £15 excess benefit is removed meaning tenants can no longer keep some of their housing benefits if their rent is lower than their entitlement.
• 5 Bedroom rate is removed meaning the maximum the council will pay out is a 4 bed rate regardless of the size of a family.
• New rates worked out at 30^th percentile means that 3 in 10 houses in an area will now be affordable to LHA tenants as opposed to the previous 5 in 10 rate. This ultimately means a reduction in LHA rates across the board. However, some bedroom rates appear to be affected more than others.

What is an inventory?

There are many definitions of an inventory for rental purposes but according to the AIIC (Association of Independent Inventory Clerks) "an inventory is a binding legal document that provides an accurate written record of the condition and contents of a property at the beginning of a tenancy".