What To Watch Out For In 2018
6th January 2018
In December of 2017, a little nugget flew over our heads in relation to lettings in Scotland which we thought was really interesting even though we don't operate within Scotland. The tenancy "term" no longer exists, instead, rather than granting a tenancy for 12 months, it just runs until either the tenant wants to leave or the landlord has cause to evict them. If you are interested in this change, please head on over to Rob Dix' website and take a look at his free bonus chapter of his book.
Incidentally, if you felt that chapter was worthwhile or, if you'd like to see Rob Dix' other landlord advice (which is mostly applicable to England & Wales), you should check out his book "How to be a Landlord".
But this post isn't about what's happened. It's about What's happening in 2018?
- The tenant fees ban, which we still don't have a date for. The only extra detail that emerged in 2017 was the proposal to cap the damage deposit at 6 weeks' rent.
- It will be illegal to re-let a property with an EPC rating lower than "E" from April. No changes here, but it's worth being aware that it's coming up.
- The expansion of HMO licensing scope, with the "three or more storeys" requirement being removed and minimum room size standards being introduced. This needs to go through Parliament first, but we now have more detail which you can read about here.
All in all, 2017 was a quiet year for lettings (unless you have properties in Scotland), but it is possibly the calm before the storm with lots of new measures likely to come in over the next 12 months – we're going to discuss the above points in finer detail as more news comes in and you should expect frequent updates this year especially.
Four Quick Tips for Buy-To-Let Investors
Why Should You Look To Invest In Leicester In 2018?