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After four years of anticipation and speculation, the Renters' Reform Bill, a comprehensive plan to revamp the rental sector, has finally been presented to Parliament. The bill encompasses changes to eviction laws, the establishment of a Private Rental Ombudsman to address disputes, and measures to expedite the existing court process. Although the bill is subject to scrutiny and potential amendments by MPs and members of the House of Lords, it is important for landlords in Crawley to understand the current proposals and their implications.

Evictions are at the forefront of the proposed changes, garnering significant attention. In essence, the bill will eliminate Section 21 and "no-fault" evictions while strengthening Section 8. This means that landlords will be required to provide a reason for evicting a tenant. Under the enhanced Section 8 rules, there are now 17 official grounds for possession. These include situations where the landlord intends to reside in or make the property available to a family member, sell the property, or carry out property redevelopment (at least six months after the start of the tenancy). Other grounds include tenant breaches of the tenancy agreement, serious rent arrears, deterioration of the property caused by the tenant's conduct, or if the tenancy was granted based on false statements.

Despite concerns within the industry about the abolition of Section 21, it is important for landlords not to panic. They will still be able to regain possession of their property if they wish to sell or redevelop, albeit through a slightly different process. Additionally, the bill reduces the notice period for landlords seeking to evict irresponsible tenants and streamlines the eviction process for cases involving missed rental payments.

Regarding pets, tenants now have the right to request to keep a pet in the property, and landlords cannot unreasonably refuse their request. However, it is still unclear what would be considered an "unreasonable" refusal. Tenants must provide written confirmation that they have pet damage insurance.

To facilitate dispute resolution, a new Private Rental Ombudsman will be introduced. This allows landlords and tenants to resolve disputes without the need for the slow and costly court route. In cases where evictions proceed to court, the bill aims to make greater use of digital platforms to reduce delays.

In terms of rent, landlords can increase rents once a year but must provide two months' notice. Furthermore, blanket bans on renting to individuals with children or those on benefits will no longer be permissible.

The Government aims to have the bill enacted into law before the next general election. Even after it becomes law, there will be a minimum of six months' notice before any new regulations take effect.

While the Renters' Reform Bill introduces changes, responsible landlords who already fullfill their duties diligently may experience a relatively minor shift. Key principles such as implementing thorough tenant selection processes, maintaining open lines of communication to prevent disputes, and upholding property standards remain essential. Nevertheless, we strongly recommend that all landlords familiarize themselves with the new rules, particularly the strengthened conditions outlined in Section 8.

For a more detailed discussion about how the Renters' Reform Bill may affect your rental portfolio, we encourage you to call Ben on 01293552 388.

In recent years, a new type of rental home has emerged in the UK and we have seen a few of these developments in Crawley, promising to revolutionize the experience of being a renter. Known as "Build-to-Rent" homes, these purpose-built properties are professionally managed by dedicated operators who prioritize customer service values inspired by the hospitality sector. With their focus on creating high-quality living environments and fostering communities, Build-to-Rent homes are gaining traction in the UK's rental market. While currently comprising just 2% of the country's private rental stock, the sector is projected to grow rapidly, potentially reaching 5% and beyond. In London, Build-to-Rent already accounts for 4% of the rental market, and with ongoing developments in the planning pipeline, it could expand to 10%. This article explores the key features and advantages of Build-to-Rent homes and their potential to transform the rental landscape in the UK.

Quality Living Environments and Community Building:

Build-to-Rent providers distinguish themselves by prioritizing the creation of high-quality living environments for residents. These purpose-built homes are designed with the specific needs and preferences of renters in mind, offering modern amenities, spacious layouts, and high-quality fixtures and fittings. From well-equipped gyms and communal spaces to landscaped gardens and rooftop terraces, these developments aim to enhance the overall living experience.

Additionally, Build-to-Rent operators understand the importance of building communities within their properties. By organizing social events, fostering interaction among residents, and offering shared facilities such as coworking spaces and lounges, they strive to create a sense of belonging. The focus on community-building contributes to a higher level of tenant satisfaction and a greater likelihood of residents choosing to stay for longer durations.

Professional Management and Customer Service:

One of the key advantages of Build-to-Rent homes is the professional management provided by dedicated operators. They adopt customer service values inspired by the hospitality sector, offering prompt responses to maintenance requests, efficient issue resolution, and ongoing support throughout the tenancy.

Rapid Growth and Future Prospects:

Although Build-to-Rent currently represents a small proportion of the UK's private rental stock, its growth potential is significant. The sector's emphasis on quality, community, and professional management resonates with the evolving preferences of modern renters. With ongoing developments and increased investment, the number of Build-to-Rent homes is projected to rise rapidly in the coming years.

In London, where Build-to-Rent already accounts for 4% of the rental market, the current planning pipeline suggests that it could reach 10%. The expansion of Build-to-Rent across the UK has the potential to address the demand for high-quality rental housing, particularly in areas where affordability and availability remain pressing issues.

Conclusion:

Build-to-Rent homes are transforming the rental experience in the UK by offering purpose-built properties managed by dedicated operators focused on customer service values. With an emphasis on quality living environments and community building, these developments cater to the needs and preferences of modern renters. The sector's rapid growth and increasing investment indicate its potential to play a significant role in the rental market, potentially reaching 5% and beyond of the UK's private rental stock. As Build-to-Rent continues to gain popularity, it brings new standards of professionalism, however not everyone wants to live in a block of flats.

Crawley, a vibrant town in West Sussex, has witnessed a significant influx of financial support in recent years, contributing to the thriving property market in the area. According to data from The Institute of Fiscal Studies, an astounding £17 billion is gifted or informally loaned annually in the United Kingdom, with a substantial portion of it being utilized for property purchases or improvements. This article explores the impact of intergenerational financial assistance in the Uk and Crawley, shedding light on the remarkable figures and the critical role it plays in the local real estate landscape.

The Generous Flow of Funds

The Institute of Fiscal Studies reveals that more than half of the £17 billion gifted or loaned each year in the UK is dedicated to property acquisition or enhancement. This infusion of funds has had a profound impact on the UK’s property market and also benefited Crawley's property market, injecting vitality into the sector and driving growth. With a keen interest in homeownership, individuals in their late 20s and early 30s are the primary beneficiaries of this generosity, with funds primarily originating from parents aged over 50. The average gift bestowed for property purchase or improvement exceeds £20,000, illustrating the magnitude of support provided by older generations to younger ones.

Aiding the Journey to Homeownership

The financial assistance provided by parents and family members plays a crucial role in enabling aspiring homeowners in Crawley to achieve their dreams. Statistics indicate that the average age at which children leave home ranges from 25 to 27 years, while the average age for purchasing a first property stands at 33. These numbers reflect the significant financial challenges faced by young adults in navigating the competitive property market.

According to Census 2021, over 22.4% of families in the UK consist of one or more adult children, further emphasizing the relevance of intergenerational support. Without the aid of family and friends, the aspirations of more than 70% of prospective homebuyers would be hampered, leading to an average delay of four years in their property purchase plans, as reported by Legal and General. Therefore, it is evident that the financial assistance provided by parents and other relatives in Crawley plays a vital role in bridging the affordability gap and propelling individuals toward property ownership.

Economic Boost and Community Strength

The injection of billions of pounds into UK's property market not only benefits individual homeowners but also stimulates the local Crawley economy. Increased property transactions generate revenue for various industries, including construction, interior design, and home improvement. The resulting economic activity contributes to job creation, increased consumer spending, and overall growth in the region. Moreover, this financial support fosters a sense of community cohesion, strengthening familial ties and promoting shared goals among different generations.

Conclusion

The availability of substantial financial assistance from parents and family members has had a profound impact on the property market in Crawley, West Sussex. With billions of pounds gifted or informally loaned each year in the UK, aspiring homeowners in their late 20s and early 30s receive critical support to overcome the challenges of entering the property market. This assistance not only accelerates the path to homeownership but also provides an economic boost to the local community. As Crawley continues to thrive, the significance of intergenerational financial support remains a key factor in shaping the real estate landscape and fostering a prosperous future for residents

Taylor Robinson, a leading player in the Crawley residential property industry, has achieved a significant milestone by securing a spot on the shortlist for The ESTAS in 2023. This prestigious recognition is a testament to their unwavering commitment to providing exceptional customer service to their clients. Having previously won awards in both 2021 and 2022, Taylor Robinson is proud to have continued their tradition of excellence.

The ESTAS is widely regarded as the largest award scheme in the UK residential property industry, honouring the best agents, conveyancers, and mortgage brokers. It is powered by an online customer review platform that allows property professionals to showcase their exceptional customer service standards. With a strict verification process in place to ensure the authenticity of reviews, this year's shortlist was determined based on an evaluation of a staggering 300,000 customer review ratings.

Taylor Robinson's achievement of the ESTAS 'Standard of Excellence' is a result of the remarkable service ratings they received from their customers through the ESTAS review platform. These ratings are collected at the conclusion of the moving experience, providing a comprehensive and accurate overview of the consistently high standard of service delivered to their valued clients. The ESTAS 'Standard of Excellence' serves as a prominent endorsement, symbolizing the exceptional service performance of every shortlisted firm in 2023.

The regional and national winners of The ESTAS Awards will be announced in October during the highly anticipated annual ESTAS ceremony held in London. This prestigious event brings together the crème de la crème of the UK's property professionals, with the awards being presented by the beloved property expert, Phil Spencer, in front of an audience of 1,200 industry leaders.

Speaking about The ESTAS Awards, Phil Spencer emphasized the authenticity of the accolades, as they are based on genuine feedback from real clients who have experienced the service first hand. These awards provide tangible evidence of the service levels provided by a firm, which is especially crucial in today's competitive market where exceptional customer service is a pivotal factor in helping home movers achieve their dreams of acquiring their ideal properties.

Simon Brown, the founder of ESTAS, highlighted the organization's mission of fostering a community of property professionals dedicated to best practices and a shared belief in the importance of exemplary service. By celebrating and acknowledging outstanding customer service, ESTAS encourages property professionals to continually raise the bar and deliver exceptional experiences to their clients.

Taylor Robinson's inclusion in The ESTAS shortlist for 2023 exemplifies their ongoing commitment to delivering exceptional service to their clients. This recognition not only showcases their achievements but also serves as a testament to their dedication to excellence within the UK residential property industry. As they eagerly await the October awards ceremony, Taylor Robinson can take pride in their continued success and look forward to potentially securing prestigious regional or national honours in front of their esteemed peers.