Piggybank News

June 17, 2013

NLA Milton Keynes Branch Meeting

Monday 24 June, 6pm for 6.30pm start to 8.30pm

Abbey Hill Golf Centre, Monks Way, Two Mile Ash, Milton Keynes, MK8 8AA
click here for a map

How to Avoid a Bad TenantPaul Shamplina, Co Founder, Landlord Action
Paul has appeared on BBC’s Inside Out and War at the Door, as well as ITV’s Tenants from Hell and will explain how to avoid bad tenants, how to ensure you find a good tenant and how to avoid large legal bills. He will share with you his experiences, including hair raising and hilarious tales of evictions.

NLA Mortgages – Andrew Rudkin, Regional Sales Manager, NLA Mortgages
Andrew will provide an overview of the buy-to-let market and the different markets to consider for those investors looking to start or expand their property portfolio and information on the best options for financing will also be available.

Discussion Period
Opportunity for attendees to share ideas, network, raise concerns, good practice and discuss future meeting topics.

UKALA: Good News for Landlords and Letting Agents – Caroline Kenny, Executive, UKALA, The UK Association of Letting Agents
The NLA is partnered with UKALA, which was re-launched last year with a comprehensive suite of membership benefits. Caroline will explain what’s special about UKALA from the landlord’s perspective and why, with demands for regulation growing ever-louder, letting agents should join this new-look association.

This meeting is FREE and open to all landlords and UKALA members. No need to book. 

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April 24, 2012

Does Property Investment make a good pension plan?

A survey by the National Landlords Association (NLA) has found 81% of landlords expect to rely on their portfolio to help them financially after they stop working.  As confidence in the economy slumps to an all-time low an increasing number of people are looking to property investment as an important part of their post-retirement income.

Over the last 10 years the number of savers contributing to pensions dropped by 8%. David Salusbury, Chairman, National Landlords Association, commented: “Landlord confidence in the financial market is at an all-time low. This combined with record low interest rates means that many individuals are looking for alternative ways to secure their financial future. Private-residential property can be a sound long-term investment for those planning their retirement. But potential landlords must realise that letting property is a lot more complicated than contributing to a pension.”

(Piggy says “Property investment can offer security for the future if it is done properly; but like any other small business it is important to get the right advice and ensure that you assess the risks as well as the possible advantages”.)

March 27, 2012

Changes to Tenancy Deposit Protection

The information below was recently circulated by the National Landlords Association

The Department for Communities and Local Government (DCLG) has published the required regulations bringing in amendments to TDP  arrangements in England and Wales.

The changes to protection requirements and potential sanctions for non-compliance will come into force on 6 April 2012.

What does this mean for landlords?

In brief, from 6 April, the Localism Act makes the following changes to the law:

  1. The time limit for protecting a deposit and providing the required information to the tenant will extend to 30 days from 14 days from the date of receipt.
  2. If the landlord fails to comply with the legislation, the court will have discretion as to the amount of the penalty payment which will be between one and three times the amount of the deposit;
  3. The penalty will be payable even if the landlord complies with the scheme requirements before the hearing of the tenant’s claim;
  4. The tenant will be able to apply to the Court for a penalty payment even if the tenancy has ended.
  5. If the landlord fails to comply with the legislation within the given time period he will lose the right to serve a Section 21 Notice unless the deposit has been returned in full (or with agreed deductions) or following the tenant’s claim being decided, withdrawn or settled.

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