New Year 2019
As 2018 comes to a close, its time to reflect on 2018 and look ahead to the opportunities of 2019. The landscape of the Private Rented sector continues to change at a rapid pace. The statutory compliance processes increase, the government has decided to restrict the commercial practices of the sector through the Tenant Fees Bill which is likely to come into force around April 2019. This is a far reaching piece of legislation which will change a number of areas. Whilst I don’t agree with the action they have taken, I do agree that some companies, particularly corporate ones have been charging too higher fees for some time and the market is broken though supply and demand issues which would normally lead to self regulation. Whatever our views, its here and so we are focusing all our energy on adapting and changing our processes to meet these new demands, identifying opportunities to use these changes to make improvements and help landlords. One thing is clear, the private rented sector continues to provide much better returns than almost anything else in the current climate when taking risk into account and tenant demand continues to be high.
Over the coming weeks, we intend to add a series of articles about each of the areas effected by the new legislation and the likely impact of this moving forward. We are all going to have to accept change but we remain committed to supporting all our clients and will continue to provide excellent value.
HAPPY NEW YEAR