Property News: New Regulations for Landlords

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Welcome to another Progressive Weekly Property News Update. In today’s episode, Kevin dives into breaking news from Landlord today and PropertInvetorstoday.co.uk as they cover the upcoming licensing of private landlords and the growing retail to residential plans for retail giants as they feel the effects of the COVID-19 pandemic. Plus listen to the end to hear the latest news straight from the Progressive Property Community.

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KEY TAKEAWAYS

Weekly Property News

  • Landlord Today: The licensing of private landlords is on the horizon. This regulation has cross-party support and is in the pipeline to be completed in the next few years. If you’re already a private landlord you will automatically qualify for licensing but moving forward new landlords will have to meet the regulation.

  • Property Investors Today: Will retail to residential property conversions continue to grow? Vast changes forced by COVID-19 have brought into sharp focus the dilemmas that high-street retailers are facing right now. Retailers are looking to use the space of their properties to incorporate residential property also.

Progressive Property Community News

  • If you have a HMO property and one of your tenants falls pregnant you must contact them to further understand their plans as you cannot have a HMO tenant with a newborn baby. In this situation you can retain the tenant buy offering them a single-let property as an alternative.
  • You must do your due-diligence with tenant references. As a landlord, there are three further checks you can do to ensure you’re entering into a contract with your ideal tenant. 1. Ask them for 6-months previous paycheck/proof of rental payment. 2. Ask the second to last landlord for their reference. 3. Use a credit check platform to check their eligibility to let your property.

BEST MOMENTS
“Lidl and Aldi have incorporated residential space about their new stores”
“Tesco own a development arm with their business”

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ABOUT THE HOST

Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.

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