Landlord Regulations for Student Accommodation
November 5, 2019
As 2019 is drawing to a close we reflect on the new legislation that has heavily impacted landlords and agents of student accommodation throughout the past 18 months and start to look forward to the legislation coming into force in 2020.
Tenant Fee Ban
On the 1st June 2019 the tenant fee ban came into force, as most of you will be aware this now means that landlords can not make charges to tenants for applications, referencing, or other tenancy charges like late rent payment charges. Although many landlords have not suffered any loss as yet agents have been hit hard by this legislation, many have had to increase management fees and charge landlords for the cost of referencing, this has also seen a significant rise in rents across the UK to reflect landlords picking up the bill.
Mandatory licensing for all properties with 5 or more occupants
On the 1st October 2018, the stories element of the HMO rule was removed, changing the rule to 5 or more occupants, 2 or more households.
April 2018 EPC regulations
All properties must meet the minimum rating E or above by the latest April 2020. With the removal of all green deal grants, landlords are now expected to pay up to £3500 to improve their rental properties. It is also anticipated that the grade will be raised on a yearly basis in the future.
Client Money Protection
Since April 2019 all Letting agents in England have been required to ensure that they are covered by a Client money protection scheme. Loc8me has proudly been a member of UKALA and providing this protection since 2016.
Proposed April 2020 Mandatory Electrical testing for all rental properties
Currently being passed through parliament the government want ALL rented properties to have a 5-year Electrical installation certificate report and will impose requirements on landlords and agents to visually check the installations on property visits.
Potential removal of section 21 notice
As agents we rely on section 21 to regain possession of our properties, the government is proposing to abolish this notice and propose everyone uses the section 8 notice. It is currently in the consultation stage and if you want to have your say please visit https://www.arla.co.uk/lobbying/section-21/#england.
We are pushing them to ensure there is provision for student accommodation so please ensure if you get involved to mention this.
There’s obviously lots of change and we are working hard to ensure this has the minimum impact on our landlords however if you have any concerns or wish to discuss this further please do not hesitate to contact me [email protected] or call 07795 464159.