Welcome to McCartan Lettings May newsletter where this month we have the spotlight on Tenancy Deposit Protection law and Landlords Insurance.
General
From the 6th April 2007, it became law for tenants' deposits to be protected. This was in response to rogue landlords keeping tenants’ deposits unlawfully and spending the money as they pleased. Before this law there was very little a tenant could do to reclaim their money aside from taking the landlord to the small claims court.
Now in its 9th year, Tenant Deposit Protection is not a new thing and has gone through a few changes over the years. The latest change was with the Deregulation Act 2015 which cleared up many misconceptions within the law; yet many Landlords are still tripping up on some of the basic requirements for compliance and putting themselves at great risk.
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Swansea letting agency, McCartan Lettings has won Gold and Silver awards in two different categories in the National Property Division Industry Expert Awards.
Hannah McCartan, the agency’s Managing Director, won the overall Gold award for best blog which focused on the new landlord licensing legislation launched last year.
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Storm damage, burst pipes and damage from break-ins were the top reasons that buy to let property investors make insurance claims, new research has suggested.
The most common claim was for storm damage, which cost an average of £1,500 to repair, followed by damage to ceilings, walls and carpets caused by burst pipe with an average £4,500 repair bill.
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This month we welcome Abigail Staniforth to the McCartan Lettings team as our newest Lettings Assistant. Formally working with Your Move in Southampton, Abigail brings with her experience in working in the lettings industry in a corporate setting and is looking forward to working on a more personal level with all of our clients.
Other changes at McCartan Lettings ...
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Landlord training courses in Swansea with Rent Smart Wales are filling up fast and are now fully booked until July.
McCartan Lettings are urging all landlords who have a property they let in Wales that the manage, or have an interest in the management of the property to secure their training slot as soon as possible.
From 23rd November 2016 it will be a legal requirement for all landlords to be registered with Rent Smart Wales and if they manage a property then a licence will also be required. In order to obtain a licence a landlord must undertake the day training course and pass a test at the end.
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