Landlords are being urged to seek guidance to ensure that they are clear on the ‘bombardment’ of regulatory changes that could affect their buy-to-let investments.
With a range of new rules ranging from The Homes (Fitness for Human Habitation) Bill to The Tenant Fees Bill, landlords need to be up to speed with the changes in the PRS, which is becoming more regulated, especially in light of the fact that a new housing complaints service is set to be introduced.
Communities Secretary James Brokenshire announced plans last month for a new Housing Complaints Resolution Service, which will legally require private landlords to become members of a redress scheme, as part of wider efforts to better protect private renters.
Paul Sloan, operations director for haart, commented: “For many landlords, it is difficult to keep up-to-date with new regulations that seem to bombard the Private Rented Sector every year.
“That’s entirely understandable. For many smaller landlords in particular, being a landlord is not their full-time job – it’s a useful extra income.
“But keeping up-to-date with the latest legislation is vital. That’s one reason why it can be good for your peace of mind – and even your pocket – to have your let professionally managed by a vigilant agent with an established track record.
“Many landlords think their lettings agents are most useful at the beginning and end of their let. In fact, things can change mid-let - not because of something that has happened at the property, but because of something that has happened in Parliament.”