News from Peter Martin (London) Ltd

Below is our latest news

No Rent Control

In the 2021 London mayoral election, a critical campaign message from Labour Mayor Sadiq Khan was to freeze private rents and control them through proposed ‘London Private Rent Commission’. The Department for Levelling Up, Housing and Communities have removed all support for such a scheme in their latest white paper.

Written by: Toby Dawson

AST & Section 21 Abolished

On the 16th of June the white paper; ‘A fairer private rented sector’ was released by the A fairer private rented sector. This sets out how the government wants to reshape the private rented sector (PRS) with the goal of delivering a better deal for tenants.

Written by: Toby Dawson

Landlord Obligations & Oversight

In February 2022 the government published a white paper which stated all landlords would be required to be listed on a register, that paper was a teaser for what came on the 16th of june in the ‘A fairer private rented sector’ white paper.

Written by: Toby Dawson

HMO Decline

Across England there has been a 3% drop in HMOs between 2020 and 2021, with London being the primary influence having a 13% reduction across the capital seeing places like Barnet declining by 37%.

Written by: Toby Dawson

Renters Reform Bill

The Queen's speech has shed some light on the much anticipated white paper from the Department for Levelling Up, Housing & Communities. Confirming previously discussed goals for the government, as well as rescinding others.

Written by: Toby Dawson

April Energy Rise

Rising costs coming on the back of a 54% energy price cap raise have many worried just how high their cost of living will raise. UK government data suggests that bills could rise by over 140% for around 22 million people, effectively raising their yearly bills from £700 to £2,000. Homeowners have a tough choice ahead of them, with the need to make their properties more heat and energy efficient as will be regulated before 2025 with an EPC level C requirement on all domestic properties.

Written by: Toby Dawson

Save Money by Moving

The cost of living is rapidly increasing and while Boris Johnson has suggested people turn off their heating and buy cheaper groceries there is a way you can save money by moving home. In order to tackle rising rental prices people have started moving to cheaper boroughs. With the average rent for a London flat being £1,650pcm people are turning to areas like Barnet which sits under the average at £1,530 instead of the £3,960 high costs of Kensington.

Written by: Toby Dawson

Rishi Sunak Supports the Property Market

On Wednesday (23rd of March) the spring statement was given by Rishi Sunak, the Chancellor of the Exchequer. To the delight of the property market the news was mainly positive towards home owners and their tenants.

Written by: Toby Dawson

Rental in Demand

The lettings market in London has never been stronger in London as everyone is learning to live with COVID. The bounce back from the 2020 market has been huge with an increase of 16.2% in annual rent for inner London and 5.8% increase for outer London.

Written by: Toby Dawson

Landlord Register

The Department of Levelling Up has published a white paper with a list of achievements they wish to enact by 2030. One of the big features is the requirement for all landlords to be registered, as part of an effort to have more transparency in the private rental sector and to fight rogue landlords. As the white paper states:

Written by: Toby Dawson

Featured Properties

Fees

TENANT FEES - NEW ASSURED SHORTHOLD TENANCIES (AST's) SIGNED ON OR AFTER 1 JUNE 2019

Holding Deposit - One week's rent, apportioned to first month's rent

Security Deposit - Five weeks rent if rent per annum below £50,000, six weeks rent if above £50,000

Unpaid Rent - Interest at 3% above the Bank of England Base Rate. Interest will not be applied until the rent is 14 days in arrears.

Lost Keys -  Tenants are liable for the cost of replacing any lost keys and/or security device including the costs of replacing any locks and/or security device if required. 

Changes to the tenancy agreement (Tenant's Request) - £50 inc. VAT (or reasonable costs if higher). 

Early Surrender of tenancy (Tenant's Request) - Should a tenant require an early surrender of their tenancy and should the landlord agree, the tenant will remain liable for the rent due under the tenancy until the date a new tenant takes up occupation of the property. The tenant will be required to cover the landlord's costs in connection with the  surrender of the tenancy and the re-letting the property