Legislation Minefield
The lettings industry has always been governed by a lot of different legislation and every day there seems to be something else added to the list!
We saw the Tenant Fees Act introduced on 1st June 2019. This has caused a lot of additional work for everyone with the restrictions it imposes. Although here at Green Door, we put a lot of preparation in before the Act was introduced, so two months’ down the line we have made all the necessary changes and made sure our clients are aware of the what can and can’t be done.
The government have now proposed abolition of section 21 notices, a review of the Housing Health and Safety Rating System (HHSRS) and Regulation of Property Agents.
Section 21 notices can be used where the tenancy is an AST and where the landlord needs possession of their property, but in circumstances where the tenant is not in breach of tenancy – so called “no fault evictions”. The government are proposing to strengthen the mandatory grounds upon which a landlord can rely to evict their tenants and also speed up the court process in order for possession to be granted if it gets that far.
The review of the HHSRS is an attempt at identifying a simpler means of banding the results of HHSRS assessments. Currently there are 29 identifiable hazards which fit into 4 main groups. The government are considering the amalgamation and/or removal of some of the existing hazard profiles in order to make it simpler for landlords to ensure they comply.
The Regulation of Property Agents outlines clear proposals for raising professional standards across the industry through mandatory regulation and qualification. These fall into three key aims: qualifications, overarching code of practice, regulation and licencing of agents. It is likely that agents will need to have a qualification of at least level 3 ARLA Technical Award (equivalent to an A level), the overarching code of practice will give specific more detailed codes for each sector and licensing will be for both the individual qualifications and also companies. This will include Anti Money Laundering, Client Money Protection, Public Liability Insurance and being a member of a redress scheme.
Green Door can take the stress out of keeping on top of the changes and updates in legislation. Being a member of ARLA Propertymark we already have to adhere to strict codes of practice which are above and beyond the industry standard. We also have access to industry updates as and when they happen with the use of a legal helpline when those unexpected queries arise.
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Green Door are 1!
Green Door are one! And what an exciting first year it has been.
From the initial launch we were off to a flying start with a portfolio of properties from a private landlord. Being active on social media created the channels for several agents needing our services to make contact. Having a flexible service we could adjust to fit our agents needs and a simple fee structure, other agents were soon signing up for our outsourcing services.
Over the year we have covered many miles out on the road meeting clients and visiting properties. We love meeting our clients; landlords, agents or tenants and seeing the properties first hand, which is just one example of how Green Door like to give a personal service.
Of course there have been a few challenges along the way, which is to be expected with new software and processes but they have been overcome relatively pain free.
We are so pleased that our targets for the first year have all been met and whilst there has been lots of hard work and hours put in, we can honestly say, we love our job and wouldn’t have it any other way now. So, the next chapter is year two and we are fine tuning our plans and goals for Green Door to grow. Watch this space!! (This time next year Rodney… 😉.)
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Tenant Fee Ban
It’s been a long time coming but finally the Tenant Fees Act 2019 hits us on 1st June. The Act is designed to protect tenants from having to shell out large sums of money at the beginning of a tenancy in administration fees and high security deposits. Here at Green Door we have spent a lot of time in making sure we understand the Tenant Fees Act 2019 so that we can advise our landlords and partner agents accordingly of the impact that this is going to have. The Act is much more complicated than just no longer being able to charge tenant fees! There are caps on security deposits depending on the annual rent amount, caps on holding money payments and limitations on how long these can be held for. Tenancy Agreements have been updated as have our landlord’s terms and conditions of business. We have also found alternative options to the capped security deposits to ensure our landlords and tenants have a variety of products to meet their needs. This includes Deposit Replacement Insurance, Property Damage Protection and Tenant Liability Insurance.
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ARLA Propertymark members
As a member of ARLA Propertymark, Green Door work to a higher standard than the law demands. We are backed by a Client Money Protection (CMP) scheme and have experienced and trained professionals who are required to undertake regular training to keep up to date with complex legislative changes and best practice. We are members of a Government approved independent redress scheme and have to submit independently audited financial accounts to ARLA Propertymark each year. Our membership has just been renewed for another year so we are all set and raring to go!
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Client money protection
The Government has committed to requiring all property agents in the private rented sector to obtain membership of an approved Client Money Protection Scheme by 1st April 2019. CMP is a compensation scheme which recompenses landlords and tenants should an agent misappropriate their rent, deposit or other client fund. This is great news for the industry and offers protection and security to landlords and tenants. Outsourcing to Green Door means that this is already taken care of for you as we handle all client money on your behalf.
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Landlord benefits
Did you know a lot of letting agents and property management companies charge extra for providing support out of normal office hours? Not here at Green Door! Our out of hours service is included as standard for all our managed landlords. This means no hassle for you at unexpected times of the day or night from a troublesome tenant who has locked themselves out or have no heating. This is all taken care of!
Green Door work with one of the industry-leading insurance companies and as a result have a whole host of insurance policies which offer great protection for landlords. These include Rent and Legal Protection Insurance, Buildings and Contents Insurance, Property Damage Protection Insurance and Deposit Replacement Insurance.
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Welcome Nicola!
Green Door is kicking off 2019 with a flying start and announcing the arrival of our fourth team member and fellow Director, Nicola! Nicola has extensive experience and knowledge in the lettings industry and previously worked at a law firm so knows how to dot all the I’s and cross all the T’s! Nicola is a great asset to the Green Door team and we are going to achieve great things in 2019.
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Busy bees!
We’ve had a busy December so far at Green Door. We celebrated our 6 month anniversary on 1st December with a cake and some candles! Over the last 6 months we have welcomed on board great new customers, taken on another team member and are so excited to see what 2019 brings for us! We’ve also been busy elves delivering Christmas gifts to those lovely clients who have given us a chance to show what a cracking service we provide. We would like to wish everyone a Merry Christmas and Happy New Year!
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Welcome Val!
We are pleased to announce the newest member of the Green Door has arrived! Val has worked in lettings, property management and most recently block management. She brings a wealth of knowledge and experience with her and we are so excited to welcome her on board! Green Door really is going from strength to strength!
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Autumn is upon us
With autumn upon us and the colder weather setting in, properties can need a bit of extra TLC with the change in temperature. Green Door is always ready and waiting whatever time of year it is with our trusted team of contractors to get problems fixed. With another 5 star review under our belt from a happy tenant, it shows what an excellent service we provide.
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