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May18

TDP changes in England and Wales

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You’ve no doubt heard through press coverage in recent years about landlords successfully appealing penalty fines they received for not protecting deposits with a government-approved scheme. Now the law is catching up with landlords who don’t do the right thing. Changes to the Localism Act applied from 6th April 2012, giving landlords 30 days to protect deposits, up from 14 days. But as the Financial Times reported, those that don’t protect won’t escape penalty “The new rules aim to tighten…

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May14

Landlords ‘overlooked’ in budget

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The government has failed to recognise the private rented sector in the latest budget according to industry experts. Landlord Assist, the nationwide tenant referencing and eviction firm, says the Government missed the perfect opportunity in the Budget to stimulate investment and encourage growth in the buy-to-let sector.
Key announcements in the Budget included an increase in the personal tax allowance threshold, a reduction in top rate income tax from 50p to 45p, and an increase in stamp duty to seven…

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May12

Accidental landlord

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The Co-operative Bank reports that about 20% of its buy-to-let business has recently come from landlords refinancing in order to be able to let out a property they have been unable to sell.
With house sales still in the doldrums, renting out the family home can be the only way to effect a move. However, it is not without risk as it inevitably involves taking on more debt, and whilst interest rates are currently low, the debt will still have…

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May4

Milton Keynes landlord jailed over fire deaths

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The landlord of a property in Milton Keynes where a woman and her daughter died in a fire has been jailed for four months.
Buckinghamshire and Milton Keynes Fire Authority took the action against Lookman Adeyemi, 39.
He pleaded guilty at Amersham Crown Court to three breaches of fire safety regulations.
Bola Ejifunmilayo, 29, and her daughter Fiyin, 3, died in the Fishermead Boulevard fire in September 2010.
Adeyemi was also ordered to pay £10,000 towards prosecution costs. Among the…

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Apr30

Sterling Properties supporting MedEquip4Kids

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Staff at Sterling Properties will be taking to the streets of Manchester on the 20th May 2012 and running 10k in the Great Manchester Run to raise money for MedEquip4Kids
Anthony Hunt, Health & Safety Manager, commented “Our team at Sterling Properties are running to raise money for Medequip4Kids to help support some of the great projects they make possible. Whether it’s to help raise the £4000 needed for Children’s A&E equipment for North Manchester General or a Portable Ventilator…

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Apr12

Four years jail

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A tenant who posed as a respectable mother of three has been jailed for four years and three months after a string of fraudulent applications for properties in South London.
Rose Chimuka, a 32-year-old woman from Peterborough, would visit the house alone, but say it was for her husband, herself and three children, even asking about local schooling to make it seem more authentic. As soon as she had secured the tenancy, she would fit locks to all the rooms,…

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Mar26

Avoid being the victim of property fraud

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As of 1 February 2012, there is no Land Registry fee for property owners in England and Wales who want to register a restriction on their properties to prevent forgery. This applies as long as they do not live in the property they wish to protect. Owner occupiers will continue to pay a small fee.
The Land Registry has issued some tips to help owners protect their property from fraudsters. The properties most vulnerable to fraud are usually empty, tenanted…

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Mar14

Tax system accused of ‘stifling investment’

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The current tax treatment of private landlords is stifling investment in the sector and major changes are required if the supply of rented accommodation is to be boosted to overcome the current shortage, according to one of the leading landlords organisations.
In a recent report produced for the Residential Landlords Association (RLA), Professor Michael Ball, of Reading University, pointed to the £3.5 billion the private rented sector contributes each year to the Treasury as a result of taxes paid which…

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Mar9

Sterling Property Expands Lettings Team

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We’ve been so busy here at Sterling Properties since the start of the year we’ve expanded our lettings team to cope with the demand.
Helen Effer and Dominic Nabb have both joined our lettings team last month as Lettings Negotiators and bring with them many years of experience in residential lettings.
“I am delighted to have both Helen and Dominic on board to further strengthen our lettings team. Since the start of 2012 we’ve been snowed under as demand for…

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Feb7

Social housing landlord fraudsters face jail threat

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Housing Minister Grant Shapps has set out proposals to help ensure tenancy cheats, who deny social homes to families in need, will face justice.
The Minister set out proposals to criminalise the abuse of social homes – such as unlawful subletting and key-selling – with a possible two year jail sentence. He said the plans could free up thousands of homes for housing waiting lists.
Tenancy cheats can earn thousands of pounds a year renting their social homes out to…

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