Landlords: Lettings 2022 Review & 2023 Look Ahead

The lettings industry is as strong as ever and rents are at an all-time high due to supply shortages in 2021/22, new homes are taking time to build, and the UK Government’s new home target is reported to have not been met. The East Kent market has performed well during these challenging times. The Private Rented Sector is evolving, and professional standards will increase with every new legislation  - strengthening the sector further.

What’s new for 2023? Plus, Legislations in the pipeline this year and onwards.

It is a possibility that the Renters Reform White Paper will be finalised in 2023.  We will monitor any developments, which could include the abolishment of a Section 21 notice (no-fault notice), increasing the notice period to Tenants for a Section 13 notice (rent increase), and a new private renters ombudsman to help the Courts deal with housing issues. The increase in EPC (energy performance certificate) ratings, will likely be increasing to a C banding for new properties from 2025 and existing tenancies from 2028.

The government has introduced VAT relief on energy-saving materials from April 2022 – March 2027 to assist property owners.

Miles & Barr will continue to monitor for any legislation changes, and we will inform all our Landlords in plenty of time if legislation amendments affect their property.

 

How we have kept our Landlords’ compliant

Miles & Barr has worked tirelessly to ensure all properties are compliant with The

Smoke and Carbon Monoxide Alarm (England) Regulations 2015

that came into force on 1^st October 2022. The Immigration Act 2016 regulations for the

Right to Rent checks

changed again in 2022, and we now must check every applicant’s identity via the share code, Home Office checking system. If the applicant holds a UK or Irish passport, we must check them manually or by an improved Identity Service Provider (IDSP).

Would you like 10 weeks of deposit protection instead of one month? 

We are now offering our Landlords a no-deposit option with Flatfair. Not only does it offer Landlords up to 10 weeks deposit (currently there is a maximum cap of 5 weeks’ deposit), Tenants only pay a membership fee equivalent to one week’s deposit which substantially reduces their upfront costs. If you are interested in offering your current Tenant, the option to switch to Flatfair please contact your Property Manager via This email address is being protected from spambots. You need JavaScript enabled to view it.

Are you protecting your rental income with Rent Guarantee?

With the cost of living and inflation starting to affect everyone including tenants, this can create a great deal of uncertainty. Some tenants do not intentionally fall behind with their rent, our policy allows us to work with them to help get them back on track whilst ensuring that you will be guaranteed to receive every penny of unpaid rent. The policy also covers legal assistance of up to £50,000 and all court fees and costs. To find out more, please contact your Property Manager via This email address is being protected from spambots. You need JavaScript enabled to view it..  

The ways we have been supporting our tenants

We have been actively looking for ways to help our tenants during these challenging times and recently produced a tenant newsletter containing tips to help them through the winter months and crucially ensure they know what to do should they have any financial problems. We have encouraged the tenants to contact us as soon as possible so we can assist them.

We won Eight awards in two months

Miles & Barr ended 2022 with eight award wins! Our Lettings team collected a number of awards with customer reviews awarding us three ESTAS customer service trophies. Plus, we proudly won Gold for Lettings Agency of the year (Medium) at the industry’s highly coveted Negotiator Awards. Read more about our awards here.

We also have experienced professionals in Financial Services, Commercial and Block Management. If you require additional advice or support relating to our specialist property services, speak to your Property Manager This email address is being protected from spambots. You need JavaScript enabled to view it..