Honourable and personal residential letting experts

6Jul

Renters Reform Bill- further updates- Part 2

After my highlights last week on the Renters Reform Bill, I bring you the second, with talks of pets and electric cars on the agenda!

Homes with EV chargers will sell at a premium due to public shortage

There are now 748,349 electric cars and vans on the road – an increase of 71% in the last year. This will mean that homes with charging points will command a premium on both the sales and rental markets.

Research by Savills revealed that while the combined number of electric, plug-in and other ultra-low emission vehicles has increased by 176% over the past two years, the number of charging points has increased just 72%.

This means that it is becoming an increasingly important factor for renters.  On average there is one public charging point for every six privately owned electric cars and one for every five privately owned hybrid cars, according to Savills research.

One area of interest locally is the plan for a smart energy grid project for the Park and Ride site at St Ives. The project will install carports, to which solar panels will be fitted- read more here.

Why is this important for landlords?

We are always looking for ways that our landlords can provide the best homes for their customers. With grants still available, this has got to be a consideration to keep ahead of the competition.

Landlords must take pets in the future  

This is truly a clickbait headline

The white paper says that tenants would have the right to request a pet, and their landlord could not unreasonably refuse.  It also highlights that the tenant fee ban will be adjusted to allow for insurances against pet damage to be able to be charged to the tenant.

What could be a reasonable reason for not allowing a pet

  1. House / garden not suitable for the number / size of pet requested.
  2. Tenants working hours that would mean the pet is left alone for extended periods of time.
  3. Lease does not allow it.

However, you know I am a firm believer that your customer / tenant should be able to have a pet if it is suitable for the property.

In 17 years of running a business as an agent, with over 6000 tenancies, we have had a tiny handful of issues where we have had to deal with poor ownership of a pet. So, sorry if you disagree, but I can’t see the issue if the property is suitable for the pet in question and the owner can prove they are capable of looking after it.

The ability of obtaining an insurance is a move in the right direction.

Housing minister confirms rent controls will not be introduced in England

Something that has been written about over the last year has finally been put to bed.

The housing minister Eddie Hughes announced that the UK government is not considering rent controls in England. He agreed that there was enough evidence available to show they would discourage investment in the private rented sector and lead to declining property standards.

Could this mean that the government starting to understand how the PRS works?  

In a free market, where rents are allowed to flex in line with demand, investment in the private rented sector is incentivised. This provides a far more effective solution to the issue of affordability and encourages the long-term supply of good quality housing.

Tenants staying for longer to avoid being faced with higher rents

Tenants are looking to stay in their existing rental home for longer as they look to avoid higher rents elsewhere, a survey from Home Let revealed last week.

The average rent in the UK hit another record high of £1,103 per calendar month (pcm) in May, up 1% on a month earlier. When London is excluded the average rent in the UK is now £928, up 9% on last month.

It is a really difficult time for those looking to rent as there are approximately 37% less properties available to rent in Cambridgeshire than there were in the same period last year.

 

What are your thoughts?

Have you got any thoughts or concerns? We would love to hear from you! Just send us a message or give us a call on 01480 494939.