MGN Inventories are very excited to announce we have been awarded Inventory Specialist of the Year 2020 from the South England Prestige Awards with Corporate Livewire
MGN Inventories are thrilled to announce we have been awarded Best Newcomer (to the Association of Inventory Clerks) 2020!
We are happy to announce we have been asked to join Siãn Hemming Metcalfe and Inventory base as a regular co-presenter for The Inventory Professional Podcast. Check out the first episode here, with more to follow.
The written description will be through and precise building a clear image of the property which is invaluable. The report should also have supporting photographs which provide an overview of each room taken from different aspects with close up shots of any specific areas noted, for example scratches on a window sill, marks to paintwork etc which support the written descriptions and help to build clarity.
Instructing a professional inventory company to complete a through, precise and consistent inventory and schedule of condition is key to success of any disputes when the tenancy has finished. It sets a great tone for the tenancy showing the tenant that the property has been accurately documented and protecting both parties.
The government's plans to regulate and rejuvenate the rental market are in full swing with one of the options being to revolutionise how tenancy deposits work in the private rented sector. The concept would be to replace individual deposits with a lifetime deposit which can be transferred from property to property. It is thought that by allowing tenants to move the deposit to the next property, rather than find the necessary funds the whole process can be sped up with the tenants only having to top up any deposit shortfall for any deductions.
Following on from the July report from the Ministry of Housing, Communities and Local Government and the report of the recommendations of the Regulation of Property Agents (RoPA). A small group of industry stakeholders including ARLA / NAEA Propertymark have been working together to propose a new regulatory framework to cover estate agents and letting and managing agents in the UK only. The recommendations in brief include:
In a move to help improve security for tenants in the rental sector discussions are taking place to abolish the use of ‘no fault’ evictions by removing Section 21 of the Housing Act 1988 and reforming grounds for possession. Landlords would have the right to gain possession through court via the Section 8 process where there is a legitimate reason to do so / where the tenant has breached the tenancy leading to concern from landlords.
The lettings Industry Council and other landlord bodies are developing a MOT-style system carried out once a year and uploaded online to replace the existing property licensing process to improve standards in the PRS. It is hoped the MOT will be a solution whereby landlords, tenants, lettings agents and local authorities could view a properties condition.
Under the current Smoke and Carbon Monoxide Alarm (England) Regulations 2015 an alarm must be provided containing a solid fuel burning appliance, e.g a wood burning stove or coal fire. The new proposal is to extend the regulation to also cover oil and gas appliances to the social sector. Should this be approved it is likely it would also be rolled out to the private rented sector in a matter of time.
The government has announced a proposal for new regulations for enforcing mandatory electrical safety checks in the private sector from 1st July 2020. The proposal advises that all new tenancies will require the electrical installations inspected and tested by a qualified person before the tenancy begins and at least every five years thereafter. For existing tenancies an electrical safety test will need to be carried out by the 1st April 2021. Agents / Landlords can be fined up to £30,000 for breach of regulations.
In an article recently published on my deposits online it was noted that tenants who have damaged the homes they rent can’t be charged letting agent commission for sorting out repairs, according to a leading lawyer. This means that if, for example, a letting agent adds a handling charge to a repair bill for a blocked drain, the landlord cannot pass the charge on to a renter. That’s because these charges are not included in tenant fee ban guidance for England or Wales.
We are proud to announce that MGN Inventories LTD are now a full members of the AIIC (Association of Independent Inventory Clerks).
Landlords have backed a merger between the two largest landlord organisations in England and Wales, the National Landlords Association (NLA) and the Residential Landlords Association (RLA).
Members voted in favour of the merger which means that a single organisation will now be formed, delivering a stronger voice for landlords in the private rented sector.
The proposed merger has been endorsed by the current boards of both organisations and comes as landlords face one of the most challenging periods for compliance throughout legislative change and hopes to officially launch on 1st January 2020.
MPs have asked for a call for evidence on tenancy deposit reforms and have recognised the importance of third party impartial unbiased reporting in the safeguarding of tenancy agreements
From 1st June 2019 the Tenant Fees Act comes into force, prohibiting landlords and agents from charging any fees to tenants other than those ‘permitted’ by the Act. Any tenancy signed on or after 1st June must adhere to these new regulations. Unfortunately this does include Inventories and Check Outs. Naturally Landlords and agents may debate cutting costs with regards to these or even carrying them out in house, however it is important to consider the implications of not providing an impartial independent inventory report and the liklihood that the deposit disputes will go in favour of the tenant.
The Housing Minister in the House of Lords, Lord Bourne of Aberystwyth made a statement revealing that from 1 June 2019, all new and renewed tenancies will come under the scope of the new ban. All existing tenancies will be brought under the new rules from 1 June 2020.
"Implementation is, of course, subject to parliamentary timetables, and amendments we have made need to be considered in the other place. We also need to allow a period of time following Royal Assent to enable agents and landlords to become compliant with the new legislation. We, therefore, intend for the provisions of this Bill to come into force on 1 June 2019. This would mean that the ban on letting fees would apply to all new tenancies signed on or after this date."
Lord Bourne of Aberystwyth, Tenant Fees Bill, Third Reading House of Lords (15th January 2019)
MGN Inventories are now working with Hat Trick Productions to provide inventories and checkouts for the latest series of Rich House Poor House!
The new General Data Protection Regulation takes effect from 25th May. What does this mean for landlords and letting agents?
Protecting our customer's data has always been of upmost importance to us, but with the new General Data Protection Regulation legislation coming in we have taken the opportunity to make improvements including full audits of what data we hold, why we hold it, where it is collected and where it is held. We have then improved transparency by making it clearer to our customers why we need their data and how it will be used. We have also improved the data security by encrypting ALL personal information within our database. Click here for further information on our commitment to protecting your data.
After an extremely busy month we have reached a record number of jobs and revenue. A huge thank you to all of our customers on trusting us with your business and we hope to be working with you for years to come.
Following the suggestion last year to ban letting fees to tenants, a new Tenants Fees Bill was announced in the Queen's speech, which will stop tenants having to pay money to agents. When the bill becomes law it is likely that landlords will have to find the money to pay for such fees themselves. Letting agents fees are already banned in Scotland. A government spokesperson said a draft bill will be published "later this year".
During the Queens speech it was proposed that deposits will now be capped at no more than one month's rent. The move has been made to make private rental more affordable and competitive however the NLA (National Landlords Association) have already predicted tenants might be tempted to use the deposit as the last month's rent meaning landlords will be out of pocket should the property be damaged.
On 1st October 2015, the law changed regarding smoke and carbon monoxide (CO) detectors. From that date, landlords in England are required to have fitted smoke detectors (alarms) on each storey of a rental property. CO detectors are also required in rooms where solid fuel appliances (e.g. those containing an open fire or log-burning stove) are installed. In general, smoke alarms should be fixed to the ceiling in a circulation space, i.e. a hall or a landing, and CO alarms should be positioned at head height, either on a wall or shelf, approximately 1‒3m away from a potential source. The regulations do not stipulate the type of alarms (such as hard wired or battery powered) to be installed. Landlords should make an informed decision and choose the best alarms for their properties and tenants, but it is recommended that 10-year guarantee lithium battery or hard-wired alarms are installed.