The Key Place Newsletter, April 2016 1st Apr 2016Welcome to the April edition of our newsletter, giving you news from across the rental industry. This month we look at how the market has performed over the first quarter of 2016; we discuss buy to let in 2016; find out the latest on the Private Tenancies Bill; we look at safety regulations and at Tenant Information Packs; and we introduce you to Lindsays solicitors. We hope you enjoy The Key Place newsletter. Please share with friends and they can subscribe to be added to our mailing list.
The Rental Market, Q1 2016 1st Apr 2016
As we hurtle through 2016 - is it really April already - let’s take a look back at how the rental market has performed overall in 2015, and more specifically in the first quarter of 2016.
Buy to Let in 2016 1st Apr 2016
Recent research (Ipsos MORI, commissioned by Shelter and British Gas) has revealed that approximately three quarters of young Britons believe it is unlikely they will ever own their own property and are likely to rent for the rest of their lives. 1,906 people aged 25-34 were interviewed for the survey, which also found that this age group have moved more than twice as often per year, compared to pensioners.
Safety in Private Lets 1st Apr 2016
New regulations have been added over recent months in order to ensure rental properties meet certain safety standards. It is a landlord’s responsibility to ensure all of the following legal requirements are met, and there can be large penalties for non-compliance. The Key Place can arrange any of the following (with the exception of Landlord registration which must be done by the landlord) for our fully managed landlords.
The Private Housing Bill 1st Apr 2016
The Private Housing (Tenancies) (Scotland) Bill has now completed the three stages of the parliamentary process. The Bill will likely become law in late 2017, and will not affect landlords or letting agents until then. However, landlords should be very aware of what has been agreed in the Bill as this may affect the letting of their rental property.
Tenant Information Pack (TIP) 1st Apr 2016
Landlords have been legally required to provide new tenants with a Tenant Information Pack (TIP) since 1st May 2013. The TIP provides information to tenants in private rented housing about property condition (Repairing Standards), tenancy agreements, and the rights and responsibilities of landlords and tenants. The pack was revised on 2 February 2016 to take into account the following legislative changes arising from the Housing (Scotland) Act 2014:
Introducing Lindsays Solicitors 1st Apr 2016
Dorothy Kellas is a Partner within the Private Client team of Lindsays working from their East Lothian office. She advises individuals and families on a wide range of legal issues, in particular relating to the protection of assets through planning. She can help with issues relating to the preparation of Wills, financial planning strategies, property issues and administration of estates. Dorothy has a particular interest in later life issues and is a member of Solicitors for the Elderly. Coming from a broad background of legal experience Dorothy can bring experience of property related issues to her general advice.