Tenancy Deposit Schemes

These are due to become mandatory in April 2007, but I bet they will be put back again or possibly changed from what's planned at the moment. They could yet be scrapped altogether a la the Home Condition Reports in HIPS
As it stands at the moment, all private landlords who take deposits will have to join up or face penalties.
If you have an existing agreement that finishes in say March 2007 or any time before the planned start date, then let it roll on as a monthly periodic tenancy. This will avoid having to join a tenancy deposit scheme (TDS) -you will only have to join if you issue a new agreement after April 2007.
Even if TDS does happen, clever landlords will have some cunning plans up their sleeves to get around the new regulations. For more information contact me via the main site www.lettingfocus.com

Buy to Let Investors Are BIG ID Fraud Victims

Buy to let investors are big victims of ID fraud because all too often their post ends up getting sent to an address where it can be picked up by other people - maybe by new tenants or other occupants in a building.
If you have a void between tenants you usually have to pay the council tax - even if it is just for a few days. Maybe also the utilty bills too.
If these bills come into the hands of fraudsters they are manna from heaven as they enable them to open accounts in your name.
So get your mail sent to a secure address, preferably your home address and shred all bills you put out for the rubbish. See the main site at www.lettingfocus.com

Abbey Moves Multiples to 5 times income

Abbey made big news today by openly saying that they will under certain circumstances allow first time buyers to borrow up to 5 times salary.
Of course with interest rates so low, five times salary may be affordable. If they rise a lot, then it suddenly gets a lot tougher.
For investors in property - whether buy to let, or buy to sell - this move can only prolong the booming housing market.
As an investor, I'm getting tired of the booming property market as it makes it hard for me and my clients to get good deals.
I'm praying for a bit of pain to come along -some worrying employment figures or scary inflation numbers - anything to take the heat out of the market and get people's feet back on the ground.
I dont wish pain on anyone, and sorry to sound like Maggie Thatcher but it will be good for all of us in the long run. Back to site: www.lettingfocus.com

Germany, Property and Migration

Whilst the UK and most of Europe has enjoyed unprecendented house price growth, Germany has done relatively little for many years.
However, when the other EU countries have to open their doors to workers from the EU accession countries, many of these workers will migrate to Germany, attracted by relatively high pay levels compared to the rest of the EU.
I think this will finally put a bit of a fire under their property market.
See the main site at www.lettingfocus.com

Factors Driving Buy to Let - Parental Help

More and more people are getting help from other family members to buy property. This “handout homes” phenomenon is about money for first timer buyers increasingly coming in the form of cash assistance with deposits and ongoing “income help” to meet mortgage repayments.
By doing this, parents neatly keep their cash out of the clutching hands of the chancellor from an inheritance tax point of view - well at least it does for those enough who are well off to spare money in this way!
For those without well off parents, owning a house will become increasingly impossible and many people will have to rent, thus providing a ready pool of tenants and rising rents, for those lucky enough to have invested in property.
I cant see this trend changing any time soon.
To go back to main site: www.lettingfocus.com