We are back and ready for another big year in the lettings industry

Firstly may we wish you a Happy and prosperous New Year, we hope you are safe and well.

Posted: January 20, 2022

big year in the lettings industry

Firstly may we wish you a Happy and prosperous New Year, we hope you are safe and well. We are back and ready for another big year in the lettings industry, our business has continued at a pace over the holiday period with our average rent hitting £1,160 pcm and deal turnaround, from viewing to handover, averaging 16 days.  We see this set to continue over the coming months and to kickstart the year with a bang we are launching a very exciting new product.

Our new Platinum Management service is designed to offer landlords complete peace of mind in a simple, all-inclusive format – our most comprehensive property management service with the added reassurance of Rent Protection Insurance.

No up front letting fee, no loss of income for the first 6 weeks of the tenancy, just a fixed price each calendar month.  Allowing landlords to budget over a 12 month period this package gives you absolute peace of mind that your investment is being reliably and consistently managed in line with ever changing Legislation and without unexpected fees.

For full details please click here: LINK TO BROCHURE

For further information please contact Rachel Suff on 01787 888694.

Key legislation dates for 2022

Each year brings changes to legislation in the lettings industry and below we outline those set for 2022/23.

February 2022: Energy price cap increase to be announced

The Government will announce in February 2022 how much the energy price cap will increase by. That increase will take effect on 1 April 2022, where energy bills will rise accordingly and Landlords should be aware of how this will impact upon tenants financial situations.  All of our managed tenants will receive our Energy Crisis FAQ which will guide them through the changes.

1 April 2022: Covid-19 adjusted right to rent checks (England)

The temporary measures to allow right to rent checks over video call and to share photocopies or photos of documents rather than the originals are expected to come to an end in April 2022. The Government is looking at ways to create a digital system for all checks, including for British and Irish citizens. Retrospective checks of the original documents for the time that the temporary measures were in place are no longer required. There is already a new digital process in place for EU, EEA, and Swiss citizens, who can access a share code to prove their right to rent, plus rules for B5JSSK nationals have also been confirmed.

Minimum Energy Efficiency Standards

Although not confirmed we are expected to see in late 2022 / early 2023 confirmation on increasing the Minimum Energy Efficiency Standards.  Although an increase to minimum energy efficiency standards  is awaiting Government feedback from the consultation stage, it is expected that, from April 2025, all new tenancies for private rented properties will require an Energy Performance Certificate (EPC) rating of C or above, up from the current requirement of a band E rating. From 2028, this increase will apply to all tenancies. This new legislation would also increase the capped amount that landlords would be required to invest to achieve the higher ratings, from £3,500 to £10,000.

Early 2022: Renters’ Reform Bill white paper (England)

Proposals in the Renters’ Reform Bill include abolishing section 21strengthening section 8, and introducing lifetime tenant deposits – plus, the idea of a landlord register has also been raised as a possibility. A white paper on the proposals is expected in early 2022 to outline how these changes will be implemented. The Government is currently in talks with key stakeholders to ensure a policy that takes into consideration a wide variety of views on the topic.