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Kristjan Byfield

Co-Founder

21565 Profile Views

About Me

Probably best known as 'the property viking' I've been working in and around property since 2002. A proud letting agent who is incredibly passionate about our industry and the incredible work (most of us) do. I'm incredibly focused on promoting the incredible work (smaller) independent agents do in our profession and the substantial role we play in the marketplace. Bit of a geek when it comes to tech, processes, efficiency, best practice and how to deliver the best possible UX.

my expertise in the industry

Started as a lettings neg in 2002, launched base property specialists in 2004 and grown from there. A huge advocate of professionalism, service and the technological evolution of our sector. Have worked with several companies over the years to design and refine digital products. I later co-founded The Depositary in 2016 launching it to market in early 2020. I sat on the board of the UKPA (UK PropTech Association) 2019-2021 and am currently sat on 'Lettings Advisory Board' for Zoopla. I am also an active and engaged member of TLIC (The Lettings Industry Council) and have sat on action groups focusing on the development of Property MOTs & the adoption of UPRNs.

Kristjan's Recent Activity

The reality is that the removal of S21 actually won’t change much. Tenants end over 90% of tenancies- this won’t change. With S8 grounds being strengthened (for Landlords) these will be better/easier to enforce and S21’s used as a ‘simpler’ way to remove a rogue/troublesome tenant- landlords/agents will simply use the intended S8 grounds. The right to occupy & sell will (almost certainly) be protected/enshrined within the new regs as well as the right for banks to repossess (with caveats to avoid abuse). As such, this will likely impact roughly 2% of tenancies (which is still around 80k). Please read Ben Beadle’s recent open letter on behalf of NRLA to Shelter for greater statistical insight- it’s a long(ish) but brilliant read! However, this will likely make landlords and agents be far more cautious about ‘questionable’ tenancies. Where there are concerns over a pet being a nuisance or where the affordability is at the threshold (worsened by rising living costs)- these tenants will likely be shunned for fear of being stuck with them unless they formally breach the contract actionable under S8. Therefore, this will likely impact the very people the likes of Shelter are (supposedly) trying to help & protect. S21 are likely to go until the latter part of this year and it is not unreasonable to think this may only apply to new tenancies going forwards. Rent increases in line with fair market conditions are likely to still be actionable- so concerns over being stuck with a tenant who, after several; years, is paying way below market rate is also likely to be unfounded. As such, this is likely a storm in a teacup and better S8 grounds/framework could actually lead to a better-structured landscape for agents & landlords alike. The white paper will obviously set out more detail, so we are all largely speculating until then, but let’s see…..

From: Kristjan Byfield 11 May 2022 12:40 PM

The reality is that the removal of S21 actually won’t change much. Tenants end over 90% of tenancies- this won’t change. With S8 grounds being strengthened (for Landlords) these will be better/easier to enforce and S21’s used as a ‘simpler’ way to remove a rogue/troublesome tenant- landlords/agents will simply use the intended S8 grounds. The right to occupy & sell will (almost certainly) be protected/enshrined within the new regs as well as the right for banks to repossess (with caveats to avoid abuse). As such, this will likely impact roughly 2% of tenancies (which is still around 80k). Please read Ben Beadle’s recent open letter on behalf of NRLA to Shelter for greater statistical insight- it’s a long(ish) but brilliant read! However, this will likely make landlords and agents be far more cautious about ‘questionable’ tenancies. Where there are concerns over a pet being a nuisance or where the affordability is at the threshold (worsened by rising living costs)- these tenants will likely be shunned for fear of being stuck with them unless they formally breach the contract actionable under S8. Therefore, this will likely impact the very people the likes of Shelter are (supposedly) trying to help & protect. S21 are likely to go until the latter part of this year and it is not unreasonable to think this may only apply to new tenancies going forwards. Rent increases in line with fair market conditions are likely to still be actionable- so concerns over being stuck with a tenant who, after several; years, is paying way below market rate is also likely to be unfounded. As such, this is likely a storm in a teacup and better S8 grounds/framework could actually lead to a better-structured landscape for agents & landlords alike. The white paper will obviously set out more detail, so we are all largely speculating until then, but let’s see…..

From: Kristjan Byfield 11 May 2022 12:39 PM

Tower Hamlets- the Freeholder & Block Manager for a flat (with a license) where they have so far been unable to resolve a roof leak for nearly 20 months! Staggering incompetence and neglect- enforcing Landlords. Millions generated, months of backlogged paperwork, virtually non-existant pro-active investigation & enforcement against the real rogue landlords. Utter disgrace.

From: Kristjan Byfield 04 June 2021 11:02 AM

Average rents in London are down around 15% on 15 months ago. City/central property with no outside space is a hard sell. E1 has been one of the hardest hit areas- void periods have extended massively and we have seen some rents in the area drop by as much as 30%. It will take a couple of years to stabilise (although rents won't drop much/any further) and then the upswing will start again.

From: Kristjan Byfield 19 May 2021 11:46 AM

The primary cause of dispute relates to poor documentation and evidence. We will discuss this and so much more in the webinar- we hope you will join us.

From: Kristjan Byfield 14 May 2021 13:42 PM

Property MOTs is something we have been exploring in quite considerable depth at TLIC (The Lettings Industry Council). The likes of Savills, Hunters and several other large agents, as well as small agents like myself, a raft of tech companies and an array of organisations have established what the key criteria would be (fundamentally bringing the key areas of compliance together). Currently this is just a paper form- but this would just create more paperwork. For Property MOTs to work the government needs to mandate that all regulators open their data up via an API- Property licensing, Mortgage consent, EPC rating, Gas Safety, EICR status, Deposit registration status and the such like. Enforcing this, whilst coupling it with legislation that all regulators/facilitators must also apply UPRNs to all property records, would transform the regulatory landscape overnight. Complaince could be instant- removing excuses and the human workload the remains vastly underfunded. This would be great for legitimate landlords and letting agents across the UK as the rogues would have nowhere left to hide!

From: Kristjan Byfield 11 May 2021 10:38 AM

Chris Pincher yet again demonstrating his in-depth and expert knowledge of the PRS.

From: Kristjan Byfield 19 March 2021 11:03 AM

You can't force them to take this option- they must have a choice between a cash deposit or an alternative

From: Kristjan Byfield 26 February 2021 11:33 AM

Educating tenants of their rights is no bad thing- this is a valid approach but should be alongside proactive regulatory enforcement by the Council which we know doesn't happen. I wonder if TH can educate me on how to get them to fix a roof leak of a Freehold property they own and manage- it took us 8 months to get the roof 'repaired' (during this time the tenants vacated as it became uninhabitable)- the damage caused was so bad half the flat has had to be gutted. We are mid-way through a fit-out repair at the property and, guess what, the roof has started leaking again! Its all very well TH enforcing regulatory standards- it would just be nice if they could also fuflfil their responsibilities as a Landlord/Freeholder in the same regard. I wonder, had they been a private Landlord, what action and fines they would be issuing by now for gross negligence!?

From: Kristjan Byfield 25 February 2021 11:13 AM

The combinations of the pandemic and Brexit have seen an estimated 700k-1m people leave London over the last 2 years. Add on top of that a decimated short let market and student market (both of which will recover of course as restrictions lift)- this has seen rents in London drop 15-20% in most areas- we have seen some drop by as much as 35%. A market operates naturally when left alone- tenants cant rent what they cant afford (pass referencing for) and rents are determined ultimately by supply & demand- if he ever feels rents are getting too high its because there's not enough homes being built. Ignorance and clickbait/clickvote politics with substance or footing in reality.

From: Kristjan Byfield 18 February 2021 10:58 AM

As always, Generation Rent like to ignore the facts and veer towards the scandalous- every borough now has strict HMO licensing with minimum room sizes and many other requirements. Ignoring all of that- if these properties weren't converted into HMOs- when does GR think all of their Tenants are going to live? Fundamentally saying- don't create housing for tenants. Bizarre.

From: Kristjan Byfield 17 February 2021 10:46 AM

This really made me chuckle- wowser

From: Kristjan Byfield 16 February 2021 12:00 PM

Yeah London's having it tough atm- but with as many as 1m people estimated to have left in the last 2 years (that's 15%) coupled with a massively reduced student market and a non-existant short let/holiday market. We are seeing rents on average down 15% and, indeed, have seen some properties have drops of 35%. This is also without factoring in voids which have also increased as supply oustrips demand so I think there will be some landlords seeing an income reduction as high as 50% when all things are factored in. It will recover, first;y when students return then as tourism picks up but it wont happen overnight. London has always been a market of peaks & troughs- that's the nature of the beast!

From: Kristjan Byfield 16 February 2021 11:57 AM

Some context to the removal of S21- around 85% of tenancies are ended by the tenant. 85%- so we are already talking about just 15%. Of that 15% about half of those are served by landlords in preference to S8 or other 'breach of contract' hearings- this was never meant to be the purpose of S21- there will likely be an improvement/streamlining for landlords to regain possession upon breach. The framework discussed in meetings on this matter has also comprehensively covered sales which (if they listen and do as suggested) sales will be feasible this accounts for another 3-5%. So we are talking about roughly 3-5% of the market being impacted but most if not all of those landlords will be happy for their contract-abiding tenants to stay. Honestly ladies & gents this really is not the end of the world, asset seize that so many on here suggest.

From: Kristjan Byfield 14 January 2021 16:54 PM

This will be a cash deposit and has been debated and hypothesised for several years. It really is not that difficult to implement and will make renting much better for tenants without little to no impact on landlords. The 'passporting' deposit is really not something to get worried about. It will not be an insurance alternative as MP suggests- at least not from my understanding being heavily involved in this space.

From: Kristjan Byfield 14 January 2021 16:49 PM

This also gets tenants 'on side' without having to address paying out on rent arrears- it sidesteps that costly conversation.

From: Kristjan Byfield 14 January 2021 16:46 PM

Yeah all those Tory landlords are desperate to enact legislation that would see their own assets be seized. Come on guys there really isn't a big monster asleep under the bed.

From: Kristjan Byfield 14 January 2021 16:44 PM

I'm not sure calling student Tenants parasites or snowflakes is appropriate or relevant. It's a tough question- should tenants have to pay for accommodation they cannot viably use? At the same time, should Landlords have to foot the bill for government actions? The reality is that the government needs to place substantial funding in place to support landlords and tenants alike- be that to resolve substantial rent arrears, rent reductions or even contract surrenders. I wonder how many landlords on here attacking tenants around this subject- have fought not to pay some sort of subscription/service that has been rendered unusable in the current climate- imagine if you were paying the rent you demand despite being unable to use the property? There is no easy answer but attacking each other def isn't it- there responsibility ultimately lies with the government- the ongoing stopping of evictions is helping no one.

From: Kristjan Byfield 11 January 2021 12:32 PM

Dont get too upset- as has been the case very often- what Khan says he wants is irrelevant he has now powers over the London PRS. As for a rent freeze- utterly pointless. Rent demand sets rent levels- that why we have seen rents dip an average of 15% across our portfolio over the last 9 months- of course some have seen no drops whilst some clients have dropped as much as 30%- rent freezes is a pointless clickbait suggestion. Council Tax- this pays for a lot more than him and we all know it- this is also recouped through rental income so this is not a real cost- council tax rates are set by the local council not him. Fireworks- typical average spend is £2.3m I for one thought the NYE fireworks were amazing especially innovative with the lasers and drone display- in dark times these uplifting moments are important.

From: Kristjan Byfield 08 January 2021 11:12 AM

Personally feel they would be better off developing tools to enable tenants to better understand and enforce the myriad of existing rights/regs than a perpetual motion for more regs. I think most understand the push for the removal of S21s however this has to be balanced with stronger, faster rights for landlords to secure properties back from rogue tenants (and similarly- faster enforcement on rogue landlords too).

From: Kristjan Byfield 22 December 2020 11:00 AM

'quality of customer service has reached an all time low'? Based on what exactly?! I think most agree that the industry is getting better year by year, especially in the capital where competition is fierce but fees are large. Tough markets require expertise, experience and the personal touch- the market is perfect for quality agents and will be very tough for outfits like this.

From: Kristjan Byfield 11 November 2020 10:49 AM

If these claims are valid then this is shocking treatment- but why not simply report this to Environmental Health at the local council and have them deal with the issues? ACORN tactics turning up and bombarding agents offices is bad enough but turning up outside a landlords address is disgusting behaviour and should be treated as threatening. If these claims are valid (and others they champion) why not fund legally tackling the matter? Surely helping the victim(s) seek legal retribution- helping them understand their rights and pay to enforce them- is the proper way to address this no?

From: Kristjan Byfield 27 October 2020 10:44 AM

Surely Landlords are simply filling a demand- so this has nothing to do with landlords servicing this sector and everything to do with how councils facilitate this. Who does Polly think should provide this missing accommodation and at what rate? I've said for years- Shelter could offer an indemnity policy underwriting the risk associated with homeless, DSS and low-income tenants delivering a real value & tangible solution and opening up the market. Simple, low-cost solution that would make a real difference and would me a marginal cost for the value it would deliver.

From: Kristjan Byfield 26 October 2020 13:49 PM

Yowser- a lot of bleak news being churned out today about London. We have actually seen transaction volumes increase, rent impact has varied- I would say the average impact is 10% with some seeing no reduction and others closer to 15-20% with rents returning to levels akin to 2012. All markets are cyclical and that's just part of the journey. Tough markets require an agent to have quality market insight and expertise, having been through at least 1 prior recession definitely helps, and it is a time for communication. Filling landlords heads with pie in the sky rents in this market is the worst thing you can do- total condour backed up by facts and results is all that is needed to navigate this difficult time.

From: Kristjan Byfield 21 October 2020 13:50 PM

A bizarre comment to make even in these strange and uncertain times. London, due to our history, culture, architecture, etc will always be a top destination for tourists- this market will return which will see the return of the likes of Airbnb which will help to normalise supply. The office sector will either slowly return to a near-normal after a cure/vaccination is delivered OR central London will transform in to a more residential & social space creating a different type of appeal (akin to the 70 & 80s) where it is a lifestyle choice rather than a work related choice. None of this will happen overnight but to suggest 'London may never recover' is just daft- London will ALWAYS recover.

From: Kristjan Byfield 21 October 2020 13:45 PM

The nerve of Southwark to ask this having sold off a ton of its social housing for premium redevelopment is astonishing and gobsmacking.

From: Kristjan Byfield 19 October 2020 18:01 PM

Guys these regs are 13 years old. 13 years. Be compliant or get punished. Simples. Especially when compliance of these laws is free if you opt for a Custodial option. Penalties have to be harsh to be effective- however do agree that (providing tenant isn't out of pocket) any penalty should go to a housing initiative/charity.

From: Kristjan Byfield 15 October 2020 12:07 PM

I'm sure landlords will happily do this- if their mortgage lenders offer the same protection, freeholders & block management waive charges, council voids council tax, etc etc

From: Kristjan Byfield 13 October 2020 11:57 AM

There's a shortage of short let accommodation in London. Said no one. Ever. Taking it they've done planning applications (and been granted consent) on all those homes so that they can exceed the permitted short term caps? Blimey.

From: Kristjan Byfield 01 October 2020 13:07 PM

With the backlog in the courts would this really be a wise move? I think not.

From: Kristjan Byfield 17 September 2020 10:45 AM

What rent hikes? Rents have softened in the capital (no surprise there)- some by a small margin - others by as much as 10-15%. General rules of supply & demand take care of that. Asked GenRent to back up their 'rent hikes' claim yesterday- still waiting on those answers.... This man is a fool, has delivered nothing of his actual housing pledges- what's more, he knows Tories won't give him these powers and he'll then blame them when things turn bad. Pathetic.

From: Kristjan Byfield 17 September 2020 10:38 AM

David I would be very careful- three of your stated conditions above are actually illegal- the deposit amount (rendering any notice invalid and opening you up to huge fines) and two others are discriminatory.

From: Kristjan Byfield 08 September 2020 12:39 PM

Far too early to tell- with visitors and enquiries severely suppressed (as anyone would expect) uplifts of those mentioned are a long way off 'normal'. Much of the traffic would have been agents seeing what competitors are up to. We have a long way to go before we know what the market and economy really looks like but a huge amount of businesses have already closed. Tenants are increasingly under pressure to meet rent demands and we are seeing a slow but constant escalation of tenants seeking deferments and, those that already have this, now coming back requesting discounts going forwards.

From: Kristjan Byfield 14 May 2020 11:59 AM

74%?!? Not seen this reflected anywhere and this scaremongering helps no one. We have negotiated special payment terms on just 5% of our portfolio. I have heard some agents talk about 20-30% as an extreme example but that's still nowhere near this crazy stat.

From: Kristjan Byfield 22 April 2020 11:31 AM

Can anyone locate this tool? Have they pulled it? Looked online and on their website and cant find it anywhere!?

From: Kristjan Byfield 07 February 2020 11:24 AM

To be fair, the TFB has created a transparent lettings market where tenants (consumers) can now rent with any agent or landlord anywhere in the country and know exactly what framework should be applied. Yes, rents have gone up, but most areas have seen increases way below the fees they used to pay AND they prefer the transparency and the fact the cost is spread.

From: Kristjan Byfield 20 December 2019 12:55 PM

Can't say that articles like this that scare the bejeezus out of landlords help. 34% are looking to sell 'at least one property' - but how many properties dop those surveyed have? This implies a mass exodus when that could be far from true. Whilst 2k surveyed is an ok pool can this really be reliable insight into 2m landlords many of which live abroad. We need to be careful that we don't get hysterical about these things or we risk being our own worst enemy and scaring landlords off more than the changes actually will.

From: Kristjan Byfield 20 December 2019 12:47 PM

Personally I don't feel we need the government to mandate any one system, we have a marketplace becoming increasingly diverse- some do cash deposits, some do alternative products and some have forgone deposits all together in return for a slightly higher rent. The licensed cash schemes are looking at a 'passporting' solution where the majority of a deposit can be transferred to another property whilst deductions are finalised also reducing outlay. A marketplace with options where the landlord & tenant can choose what solution they want is the best for all concerned.

From: Kristjan Byfield 30 October 2019 10:47 AM

We were quite frankly staggered by Airbnb's 'not our problem, talk to the host' approach when we advised them the property was being illegally sub-let. Their attitude and (lack of) action was clear evidence that they are complicit in these actions and actually enable them. Unbeknown to us, the sub-letting had caused misery to several neighbours for months before we discovered the situation and commenced action. The tenants that did this think this is all over for them- that is not at all the case as our client will be pursuing them through the courts for his losses once we have finalised what those exactly are having secured a new tenancy. With increasing legislation across PRS the government need to legislate across all markets otherwise the very miscreants targetted by this legislation will simply move to a nother market-sector where they can act largely as they see fit- in this instance the short let market. I am not against short lets but it should be regulated (in line with PRS) and stock levels limitted to avoid negative impacts on general housing market supply. Airbnb must also be held to account for its role in matters and be forced to act more diligently or fined heavily when seen to be facilitating an illegal sub-let.

From: Kristjan Byfield 28 October 2019 11:58 AM

Part of this problem is that ownership is still portrayed as somehow better than renting. The second has less to do with rent levels and more to do with the fact that the average London property price for FTBs is around x12 the median salary here.

From: Kristjan Byfield 29 July 2019 10:51 AM

Wouldn't it have been really great if Katie, after posing as a tenant, had called those same agents back as a journalist and spoken to the owner/managers to better understand why there is such an issue. The media are quick to suggest that landlords & agents are simply being discriminatory without understanding the structural underpinning that creates this mess. Shame.

From: Kristjan Byfield 21 May 2019 11:20 AM

Do these figures take in to account renewals? If properties are being re-let without going on the open market surely this would create the impression of a shrinking market. I cant speak for anyone else but our August was up nearly 20% on last years letting figures and was our best ever month for new business.

From: Kristjan Byfield 20 September 2018 10:39 AM

Who were the agents? If they were so bad why not name & shame? How were these agents selected- did they target bad agents intentionally? Don't rate an entire industry of around 20k agents on the experience with 30. Grrrrrrrr.

From: Kristjan Byfield 05 July 2018 11:24 AM

Did the tenants completing this review understand that the alternate products charge a fee that is not refundable and that, under those, the tenants are still liable for any and all damages typically claimed from a deposit? Also, that some require a renewal fee each year they are at a property? Deposit free renting is an alternative but is not quite as simple as tenants think from the name of the product.

From: Kristjan Byfield 05 April 2018 10:35 AM

I always feel a great way to win over potential clients is to call the way they conduct themselves professionally as bonkers.

From: Kristjan Byfield 26 March 2018 10:46 AM

Most agents and landlords do not discriminate benefit tenants for reason pf 'class' but find it hard to fully vet the fiscal risks and admin headache that often comes with them. The three key issues are that: 1 councils pay rent in 28 day sums in arrears rather than monthly in advance causing an accounting headache for many as well as a months (further) delay in income 2 If the benefits are found to be fraudulently/inaccurately claimed the landlord must immediately return all applicable funds to the council and then pursue the tenant through the courts (which if the need support is largely pointless) 3 councils still by and large require a benefit tenanted to be evicted before they can be housed elsewhere. As such, how can an agent/landlord opt for a benefit tenant over a professional/private income one with these risks? It's not bonkers, its business sense. The councils can make some easy tweaks to make their tenants potentially more attractive than private tenants- underwrite/guarantee all applicable rent and damages, offer free legal assistance in pursuit of arrears and eviction matters. These changes would solve the issue for many.

From: Kristjan Byfield 26 March 2018 10:45 AM

Average rent in London is around £450 pw amounting to a deposit of £2700 but average tenancy has 3 people so £900 per person. Not cheap but not as dramatic as this article likes to make out. As for K&C residents shelling out over £8k- I don't think people paying £1200+ per week in rent are too worried about affordability factors. Would be nice to see DLighted take a slightly less scaremongering approach to its pieces once in a while.

From: Kristjan Byfield 20 March 2018 10:35 AM

The Noddle article actually went on to say that tenants have to save up to 4 months to get on the rental ladder, not that it was impossible. It also ignored the fact that, whilst the average deposit is around £1,000 the average tenancy has 2-3 people actually making the deposit around £333-500. Credit score issues would not be resolved by a 'no deposit' solution (if that was the main reason for decline) and this can be worked around with a Guarantor or the simple explanation that their credit score is low because they have zero debt- most Landlords would like that advantage.

From: Kristjan Byfield 07 February 2018 11:53 AM

7% of the population have bought in the last 7 months? I call BS. Intrigued to know what size survey they have extrapolated this from.

From: Kristjan Byfield 22 November 2017 11:06 AM

Based on that he's only making £260 pw in rent which is very low for London- sounds like he'd be better off doing long term- more rent, less voids, less hassle.

From: Kristjan Byfield 14 November 2017 11:13 AM

As agents and landlords know all too well- when you look at the risk involved in terms of the possible rent void when evicting a non-paying tenant and/or the possible damage an unruly one can cause, asking tenants to part with £1,000 (or more) is not really that much to ask. Whilst references can tell you so much, holding a sizeable amount of Tenant cash is a useful leverage to have should things start to go awry. What is also concerning is the questions over the genuine value to the tenants that some of these schemes offer- and it is essential that tenants are very clear on what they are and aren't getting under what is being offered. For instance, I am aware of one scheme where, should a tenant contest a deduction and it 'fail' they are charged a fee of £120 + VAT. One of the large selling points is the reduced admin placed on agents however the tail-end process of check outs, deductions and the process involved remain (by and large) unchanged. As such, the savings are at the start of the process- but those with good systems in place know this is not the onerous part of deposits. Of course, I would say this, as I am building The Depositary which is focusing heavily on the tail-end system.

From: Kristjan Byfield 03 October 2017 16:01 PM

If personal debt is spiralling then surely this supports the need for cash deposits. Almost all deposit replacement schemes work on the basis that the tenant pays 1 week's rent but is still liable for the full 6 week liability of the deposit (and of course liability beyond that under the tenancy agreement). However, this will have to be money which, if needed, they will need access to. If debts are ever higher, suggesting that savings are non-existent, then surely you want as much as possible set aside to be accessed as needed- not to have to chase a tenant that no longer has that money available. Or am I missing something here?

From: Kristjan Byfield 26 September 2017 11:33 AM

Only worth it if enforced and most of these regs are already in place and arent being enforced anyway. About as useful as the LRS (London Retal Standard)- sounds nice, means little. Councils need to stop releasing soundbites and put effectove legislative compliace checks in place.

From: Kristjan Byfield 13 July 2017 15:16 PM

This is still predicated on having a tenant that spends all of that money (that they wouldn't otherwise have) leaving nothing in their bank account creating a high risk situation underpinned by reports of escalating household debt. I still don't understand this argument.

From: Kristjan Byfield 05 July 2017 09:24 AM

This isn't your typical Landlord- a single, large site brings with it huge efficencies fo management. They also manage the whole processs in house enabling them to save on additional costs such as agents. Combine those two things and they can probably offset this risk against boosted margins. What is more, they have probably calculated that, charge no deposit but increase rent's slightly and the boosted income will cover the average claims. Tenants are still contractually liable so not a crazy move- but only works on this sort of scale & set up.

From: Kristjan Byfield 26 May 2017 10:09 AM

Oooops. Indeed.

From: Kristjan Byfield 23 May 2017 13:47 PM

Ondeed. Dare I say it, there are a lot of similarities to the 2007 due to a combination of over-heated rental and sales prices and all the (known) mitigating factors. Hold on to your hats people!

From: Kristjan Byfield 23 May 2017 13:47 PM

The only way this would be feasible is if the government licensed our sector (agents and landlords) and ring-fenced those funds for rigorous enforcement (there is no way they will massively re-structure the regulations otherwise). However, since successive goverments have made clear for 20+ years, they have no interest in licensing our industry. Whilst onerous, the vast majority of the legislation isnt that complex and letting agents can easily wrap their head around it with suitable training. For Landlords, however, especially those with 1-2 properties, this is not a 9-5 for them and the time commitment to understage the legislation and ensure compliance is simply not viable- or even possible. The simpelst way forward in this regard is the application of tech. A comprehensive regulatory compliance engine is what is needed to power the back-end of a myriad of applications which can be used by agents, landlords, tenants and enforcement bodies (as well as suppliers to all these sectors) making compliance easy and eliminating a lot of the burden of training. This, in turn, will drive up standards and the perception of our sector. It will also show private Landlords the true value of professional letting agents in today's heavily regulated marketplace and should push a sizeable percentage in to service offerings of one shape or another. I recognised this a while back and we have begun building just such a platform which we have called The Depositary. The platform is, by no means, complete as the amount of legislation to build in (and the varying measures for countries & counties) will take time however we have made a good start and plan to launch our first release in the coming weeks/months. We are looking to work with @ 20 agent branches over this Summer to make sure the platform delivers as we hope and, if all goes well, will start rolling out across England from Oct/Nov. From there we will be constantly developing and growing the platform as we add in further regulations both for England but also to deliver compliance platforms across Wales, Scotland and Northern Ireland. It's certainly not the sexiest topic but we are really excited about what we have been working on. We have worked hard to look at it from all 3 viewpoints (agents, landlords and tenants) and think we have built something that's effective and efficient.

From: Kristjan Byfield 10 May 2017 09:49 AM

Yet another poll, no doubt with leading questions, to create a report to serve a PR message. What is worrying with online offerings for lettings is the questions over how they can ensure that all 400+ legalities are met. How do they fulfil Right to Rent check obligations? I can see no mention of warning ober HMO legislation, Legionnaires checks, Smoke & CO checks and the such like. Whilst the rise of online in sales is one thing, the rise of the online Letting Agent raises some very dangerous questions. A common theme of message is the fact that they deliver better services to both Landlord and Tenant with 'increased transparency' however it appears to me that they are actually creating a much more dangerous rental market for Tenants and Landlords alike with it being impossible for them tpo fulfil their duties of complete compliance to both parties whilst also failing to educate said parties in theor rights and responsibilities. Very worrying indeed.

From: Kristjan Byfield 26 April 2017 12:28 PM

Is it really that high? I can find only 2 on our entire database

From: Kristjan Byfield 15 February 2017 13:21 PM

I'd love to see these surveys quantified. How many completed the survey? How did they choose and approach the tenants surveyed? This article makes out that most Tenants in Hackney are livind in cold properties where I can be adamant this is not trhe case at all. These issues do need to be addressed but why do they have to write a report (udsually based on a handful of research) with market-wide assumptions.

From: Kristjan Byfield 10 February 2017 16:28 PM

With most Tenants paying bills how useful is this?

From: Kristjan Byfield 22 December 2016 13:51 PM

This article, and the comment from David, all point to the lowest common denominator. The agent that charges as much as possible yet does as little. These agents, whilst seemingly reputable, continue to do untold damage to the industry in the prsuit of lazy profits but do damage the perception of the industry and endanger its future. That said, any Landlord that has ever used a good agent will know just how much value they add in terms of rents acheived (in most cases agents acheive higher rents covering most, if not all, of their fees), reduced voids and the professional handling of all issues from compliance to trick issues. Much like the 'threat' of online agents, if you give a great service and constantly look to improve and innovate then you really have nothing to worry about.

From: Kristjan Byfield 14 December 2016 14:36 PM

Personally think that London will stay very flat next year in rent values. History has shown that a soft sales market (especially under economic pressure) also suppresses rent levels with Tenants concerned of job security seeking to reduce ongoing (contractual) commitment and limiting financial commitment- thereby resisting rent increases. WE have already seen this this year with average rent increase of around 3.5% reduced to around 1% this year.

From: Kristjan Byfield 07 December 2016 13:25 PM

Take it this means that next up mortgage application fees will be banned. After all, that is charging someone to assess if you can offer them a product which makes money- and these vary much like Tenant fees do across the country. Suuuurely on this logic, the bank/lender should cover this cost no?

From: Kristjan Byfield 23 November 2016 11:31 AM

This is a very strange article. Cant say I have ever come across this attitude from Tenants- in the rare occasions something goes mising its usually accidental and is promptly returned. Cant say Ive ever rented a property out with its own beehive nor have I had a property handed back with no sink. Much like the eschewed stats regurgitated by Shelter to get across a point DL are clearly trying to terrify Landlords in to taking out insurance. Can any other agents out there genuinely substantiate this attitude from Tenants? Especially at the scale reported and blatant attitude to go with it? As always it would be nce to know more about the DL survey- how many did they survey? Where were the surveys geographically? How was the pool collated?

From: Kristjan Byfield 14 October 2016 12:15 PM

So a few thoughts on this.... Lost Interest- what interest? If you are really lucky you might have a special saver acc offering 2% so working to £1500 that a whopping £30. However, thats an account where you cant touch/use that money. Accounts with rewady access currently pay no interest. People need money- this pitch is working on the premise that tenants should spend every penny they have and not have any savings, anywhere, ever. How many Tenants would treat their property with considerably less care if they knew there was nothing for them to lose? What this (and reposit) also skip over is the Tenants have to pay a fee for this product which is considerably more than the average deduction. So whilst this product 'frees up their deposit' it actually costs the tenants more in typical costs.

From: Kristjan Byfield 28 September 2016 10:21 AM

With lenders driving down available equity and driving up the required return are Landlords left with any chpice but to push for rent increases every year?

From: Kristjan Byfield 05 July 2016 09:47 AM

But lets make the eviction process longer, more costly and more complicated- that makes sense! What is more, with children living there, how the hell were Child services not notified/involved n this disgrace!?

From: Kristjan Byfield 01 July 2016 12:31 PM

Also- this article appears to be more about the manutfacturing standards NOT of testing. No Landlord or Agent will be doing labortaory tests- they will use the test function and MAYBE do a CO test (highly unlikely). Isnt this about the UK/EU needing to tighten manufactirung standards on safety equipment?

From: Kristjan Byfield 21 June 2016 15:15 PM

National statistics show around 40 deaths, 200 hospitalisations and around 4,000 treatments for CO- however, with the rental industry so strongly regulated, I'd love to know what percentage of these relate to those and what relate to to private homes (where there are no maintenance/upkeep regs) or other settings such as tourism sites. However, if the property specifications require a CO alatm then they DO require annual testing- although (after the initial check) this can be got around by ensuring you keep records of requesting tgenants to test on an annual basis.

From: Kristjan Byfield 21 June 2016 15:13 PM

Importantly there have been loads of surveys about this and it's not what most Tenants want. Most tenants move several times in their first 10 years of renting as they decide where they want to live and their career progresses allowqing them to move up the rental ladder. We could introduce longer leases which, like Europe, could be structired more like commercial leases with more upkeep placed on the tenant but lower rent (as lower cost liabiloty to Landlord) and everyone might be happy...?

From: Kristjan Byfield 10 March 2016 11:12 AM

More statistcs with little substance- I would love to know the number of Tenants surveyed. More often than not these are tiny surveys giving nonsense statistics that are then stated as a national fact. The bottom line is- have quality contracts, make sure you meet all regs and either employ a managing agents that does inspections or commit to do them yourself (or pay an Inventory company to undertake them for you). We visit our entire managed portfolio 3 times during a 12 month tenancy and that is on top of the start and end inspections- so our managed properties get checked on typcally 4 times every 12 months. Tenants feel well cared for but also know they wont get away with any breaches of contract such as smoking, sub-letting, etc.

From: Kristjan Byfield 25 February 2016 11:21 AM

Increasingly rare in London, we actually used to accept DSS Tenants and had several very successful tenancies. However, the councils have made this increasingluy difficult in an effort to alienate private Landlords. Their rental payments are a nightmare for accounting as they insist on paying in 4 week cycles instead of calendar month like everyone else. What is more, with limited housing and a long waiting list, the likelihood of a DSS Tenant being rehoused at another DSS property without the Landlord/Agent having ti go through eviction proceedings is next to nothing. As such, what Landlord wants to take a Tenant when so much is stacked against them. The council teams are also incredibly rude and aggressive to agents and Landlords alike- we have a DSS tenant with mental health issues whi is damaging a property whilst making false claims and all that happens is we get very aggressive threatening letters from the council. After 10 years f accepting DSS tenants we stopped in Jan 2015 after too many bad experiences- not with tenants but with councils.

From: Kristjan Byfield 25 February 2016 10:51 AM

Id love to see the 16% unsafe homes statistic quantified- after obver 15 years doing this job I dont think I could equate even 0.5% of the properties I have seen to this category. What is unfortunate is that I do support the move and the Conservatives should be ashamed (although this government is clearly shameless) but Tenant rights groups need to make sure what they state is accurate. When I read claims like this it just leads me to right the group off as I simply cant take them seriously.

From: Kristjan Byfield 13 January 2016 10:58 AM

We used to accept Tenants on Housing Benefits until the start of 2015. The main reason for this shift was not the advice by councils to be 'evicted' (this was mitigated by having a suitable Guarantor in place) but the fact that Councils made it so difficult to process a tenancy application with so many forms and their 4 week (insted of monthly) rental payments is a nightmare for accounting.

From: Kristjan Byfield 12 January 2016 14:22 PM

As long as you have proof access was denied there is nothing any legal authority can do in this regard. Also, vacating the property does not release them of the financial commitment to reimburse you for damages caused. If you have suitable insurance you should be able to have had mist, if not all, of the work covered under the policy and then sought full reimbursement from the Tenants. Now, you would almost certanly have had to accepted a repayment plan but, as you should only be out the excess, over time you end up actually substantially 'in pocket'.

From: Kristjan Byfield 12 January 2016 14:20 PM

I am sorry but this is not new information. This is the approach the council has taken for many, many years. This, importantly, ONLY applies to Tenants needed social housing. Whilst this is horrible for the Landlords (we have had 3 such incidents in 12 years) this aproach is logical as it ensures only those most in need get housed. Thse with other options (family/friends/cheaper areas/lower budgets) move sooner. If you ensure you have a quality Rent Warranty (usually about £100 for 12 months cover) then you get up to 6 months rent cover which would cover the time needed to evict the tenants. Another way to mitigate the issues is to have a Guarantor on all tenancies- but not always that practical.

From: Kristjan Byfield 12 January 2016 14:17 PM

Shock- Landlords are disappointed at paying more tax and intend (hope) to spend as little as possible on their properties. Seriously? Tomorrow I am opening a new research company that will announce other staggering statistics such as- agents want more stock, landlords want less repairs, tenants want lower rents and other ground breaking findings.

From: Kristjan Byfield 20 November 2015 12:13 PM

At less than an extra £3 per week, and when you factor the potential consequnces (poor work, paint on other surfaces, poor paint products, 'interesting' colour selections, etc) this really is a nonsense article! Most Landlords will happily let a Tenant paint their property on the basis that an agreement is reached on colours, that an agreement is reached on what is considered an 'acceptable job' and most Landlords will happiy cover all materials costs (and maybe even some money for their labours). Bizarre piece of writing.

From: Kristjan Byfield 18 November 2015 12:50 PM

EJ Harris need to be very careful here. By securing more than 2 months rent as a deposit the legal framework of a tenancy shifts with the Tenants permitted to sub-let the property without the Landlord's consent. We house a lot of Tenants with pets and simply ask for an extra 2 weeks (8 instead of 6)- the reality is, yes, a dog can cause damage but no more than a bad Tenant. The Landlord still has contractual cover for any iable damages above and beyond the deposit and there are insurances for Tenants with pets so you can require that as a safe guard too.

From: Kristjan Byfield 13 October 2015 10:30 AM

Biggest gripe with people wishing to buy a Ferrari is the price. Interestingly we almost never lose an instruction over fee structure- what clients want is value not cheap. However, choose an agent based on who gives the lowest fee and, surprise surprise, you get bad service. As for valuations, in my experience most agents are accurate with aggressive firms pricing high to Land instructions- clients dont question why one agent says a property is worth 20% more than three others but then complains when it doesnt sell/let quickly.

From: Kristjan Byfield 05 October 2015 12:03 PM

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