Government scraps landlord register
Phew – the new government aren’t hanging about! They’ve certainly got stuck right in and are making some big changes that are going to affect anyone involved in the property industry.
First came the abolition of Hips packs last month, then last week they announced the reclassification of back gardens.
Now the Housing Minister Grant Shapps is to scrap the residential property landlord register planned by the previous government (you can read about it here).
So far, the move has been widely welcomed by the industry. And I can see why! I think that the last government went too far with their plans for the landlord register. Ultimately, it would have led to more red tape, more complexity and would have been costly for the housing sector.
The move to reduce bureaucracy and red tape is a good one. I think it’s a great way to build up confidence in the property industry and encourage further investment in the sector.
However, saying that, I think that ignoring the regulation of the private rental sector is a mistake. Currently, there are no mandatory controls of letting agents. This can lead to unethical and unprofessional agents giving the industry a bad name.
It seems the Government hasn’t decided how, when, or if it will introduce some form of regulation of letting agents. I think more self-regulation would be the preferred option and this is something that they do seem to be considering. Let’s hope they don’t leave the decision too long.
Popularity: 1% [?]
Lyndon
What a great website.
Please can you let me know what deals you have done over the last 12 months.
thanks
Justin
[Reply]
Lyndon Forshaw Reply:
June 30th, 2010 at 12:41 pm
Hi Justin,
I have several deals on going at the moment which have come about in the last twelve months… site for 30+ houses in Bolton which will be a conditional deal. once due diligence is complete. Just submitted planning for 3 large detached houses on another site in Bolton. Acquired another site unconditionally, obtained planning for a mixed use scheme for a veterinary surgery & residential then developed. Negotiated a ransom deal on a nine acre site in Bolton, bought and sold a portfolio of 66 houses in Northwest, recently agreed a deal on a Tesco Express pub conversion, agreed a deal on a new build Tesco Express site, recently agreed a deal on a plot for single detached house in Wigan which will put through planning and develop, acquired a site for a pair of semi detached houses in Bolton and about to develop, brokered a site for a potential wind farm in Scotland…. plus few more…
I am in property full time and active in many varied opportunities
regards
Lyndon
[Reply]
At present, ways in which more confidence is being generated in the property market should be utilised. Mortgages are becoming for available to home buyers but confidence is still low in comparison to two years ago.
[Reply]