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Lettings survey shows huge lack of landlord awareness

The need for letting agencies to assist landlords with the increasingly-complicated private rental sector has been hammered home by the results of a survey of almost 4,000 buy to let investors.

The Landlord Knowledge Survey, by online letting agency Urban, reveals that:

- around 20 per cent of landlords are unaware of existing EPC regulations, and 17 per cent were unaware of the MEES changes set to come in to effect from next year;

- 70 per cent of landlords are not aware of all procedures involved in the Right To Rent regulations which came into effect a year ago;

- only 34 per cent of landlords adequately test the smoke and CO2 alarms in their rental properties;

- 38 per cent did not know that a tenant could refuse them access to the rental property even with 24 hours’ notice;

- substantial numbers were unaware of the repurcussions of failing to join selective or other local authority licensing schemes that exist in many areas;

90 per cent of landlords made errors when questioned on their responsibilities over tenancy agreements;

- around a third of landlords showed confusion over gas safety requirements;

- only 50 per cent of landlords appeared aware of the potential tax consequences of April’s start to the phased reduction of mortgage interest tax relief.

“One reason to explain the lack of industry knowledge could be due to the recent influx in new regulations, which have flooded the rental market” explains Adam Male, co-founder of Urban. 

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    Letting Agents should keep on top of all lettings management regulation and compliance. Tenant finding and lettings management isn't a quick job for an easy pay day, it needs to be done properly to protect the landlord, the tenant and the property. pinkandcow.com

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    Letting Agents should keep on top of all lettings management regulation and compliance. Tenant finding and lettings management isn't a quick job for an easy pay day, it needs to be done properly to protect the landlord, the tenant and the property. pinkandcow.com

  • Matt Williams

    This is why as agents we pay to be members of the RLA and the likes. Because they keep us well informed of all proposed and current changes in legislation which we then pass to our landlords. You wouldn't believe the number of landlords that come to us not realising they need an EPC/Gas/Electrical Inspection certificate.

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    CO2 alarms...

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    Whilst the Government treats being a landlord as a hobby, rather than a legitimate business, is it any wonder. That said NLA, ARLA etc don't help. Being a landlord or management agent should require a specific qualification with maintained learning.

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    If you survey the population for anything then you will almost certainly get this same answer.

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