A fifth of all homes are privately rented in England

According to an article by Residential Landlord, a fifth of all homes are now privately rented. That means there are a good number of landlords benefitting from an income or addition to their main income generated by the rental of one or more properties.

The article goes on to point out that housing stock in England has increased from 10% to 18% from 2001 to 2011. This is according to the latest report on dwelling stock in England.

The following was also outlined for the same period:

• the proportion of owner occupied property has fallen from 69% to 65%
• renting from registered housing providers has increased from 7% to 10%
• but has fallen from local authorities from 13% to 8%
  
  

Residential Landlord also went on to say that there was a year on year increase of 0.59% in dwellings in England as of 31st March 2012, taking the estimated figure to 23.1m homes. This is according to the Department for Communities and Local Government.

Apparently this is the lowest increase for 10 years with 2008 being noted for the highest increase at 1%.

For any questions you may have on property related issues, please get in touch and we will be happy to advise you. Call us on 0117 9073577 or email us.

How to end your tenancy agreement

So you are off to pastures new, but first you must end your tenancy agreement. If you just up sticks and leave without ending it or telling your landlord, you could still be liable for the rent regardless of whether you are still living there. And we’re betting you’re not made of money or fancy paying for a property that’s no longer your home.

So first things first, you need to check your tenancy agreement and ascertain whether it is a fixed term or periodic tenancy.

What’s the difference?

A fixed term tenancy is for a fixed amount of time, usually a 6 or 12 month period. Whereas a periodic tenancy covers an ongoing period of time and rolls from week to week or month to month. This also applies to a fixed term agreement that has passed its fixed term date of 6 or 12 months and you haven’t been asked to sign a new fixed term tenancy.

What happens next?

With a fixed term tenancy you won’t need to give notice if you leave on the last day of the fixed term. If you need to leave earlier than this then you should talk to your landlord. They may be amenable to ending the agreement earlier than stated on the agreement. This may also be possible with a periodic tenancy. If not you are required to give at least four weeks’ notice or one calendar month if it is a monthly tenancy.

How will the new Bedroom Tax affect you?

Despite coming into effect on 1st April, the bedroom tax is no April Fools’ joke.  Unfortunately it is very real and will inevitably affect both tenants and landlords across the UK.

Thanks to the new bedroom tax, tenants who claim housing benefit will find it reduced by 14 per cent if they have an extra bedroom.  The new under-occupancy charge may force them to consider taking in a lodger to pay their way.

Inside Housing has shared some invaluable advice from Paul Hayes of Lewis Silkin, who is the head of housing litigation and dispute resolution.  In brief, he points out that in most cases tenants are entitled to take in a lodger without affecting their statutory or contractual rights - although there are some exceptions to the rule.  Written consent from the landlord is also required.  For a more detailed look at your rights and responsibilities as a tenant or as a landlord in this matter, you can take a look at the full report here.

In the meantime we are here to answer your questions and advise you on any property related issues.  So please get in touch via email or give us a call on 0117 9073577.

The joy of renting

There’s no doubt that renting can be a great long term solution or incredibly convenient for interim periods between moving properties. With your feet firmly under the table and the smug knowledge that somebody else is paying the mortgage, don’t forget to play your part as a good tenant.

• The property may be owned by someone else and even managed by an agency, such as the Bristol Property Centre, but you should still take good care of it. In fact, treat it as if it were your own
• Although the landlord is responsible for the property’s safety and good state of repair, you
are financially responsible for any damage that you, your family or friends cause. So be
respectful, after all it is your home if only on a temporary basis
• Don’t sublet the property to your mates whilst you travel the globe, unless your landlord or
tenancy agreement allows it
• And finally, you are legally obliged to allow your landlord access to the property.
However,there are guidelines they must adhere to such as giving you 24 hours’ notice. Your
landlord can also only visit at what is deemed to be a reasonable time of day. Of course if
we’re talking an emergency then you must allow them immediate access to assess or rectify
the problem

Stick to these basic rules and you’ll have a comfortable home and a happy landlord.

FAQs

For this week’s guest post we thought we’d share with the readers of our blog some of our more frequently asked questions. We hope that by sharing these with you they will provide you with answers to any questions you may have and provide you with a little more information on other areas. If there are any questions you may have that haven’t been answered below then please get in touch with us here or check out our Landlord Clinic.

Why should I use a property management company?

A property management company is a great way to benefit from owning and renting property without having to deal with the hard work that comes with doing it by yourself. We offer various packages so that you can be involved or removed from the management side of things.

Do I need Landlord Insurance?

Here at Bristol Property Centre we always advise our landlords to take out specialist landlord insurance to protect themselves and their properties.

Who is responsible for maintenance issues?

This depends on which level of management you have opted for. If you have selected our fully managed package then we will deal with any maintenance issues. A lower level of management and it will be the responsibility of the landlord to deal with any maintenance issues should they arise.