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Plans to Abolish Section 21

FPPIn April of last year the Government announced its plans to abolish Section 21.  This has caused a feeling of uncertainty amongst landlords as to how they will go about regaining possession of their property if a tenant refuses to leave after the fixed term of their tenancy agreement expires. The Government has stated that the purpose of the abolishment is an attempt to remove no fault evictions so as to provide renters with the security of having a tenancy that cannot be ended through no fault of their own. The National Landlord’s Association have specified that “over 96% of landlords would consider the leaving the market without section 21”.  What is section 21? Section 21 is the process by which landlords or their agents can reclaim properties without having to state a reason. A section 21 notice can only be served no earlier than 4 months’ into a tenancy agreement. Furthermore, it cannot expire before the end of a tenancy. How can landlords prepare for the changes? To prepare, landlords need to act now. If a dispute has arisen between you and your tenant take action immediately. There is uncertainty as to what extent the Government will amend legislation. Also, there is confusion if this will provide you with the necessary means to regain possession of your property. The section 21 procedure currently remains open to landlords looking to regain possession of their property where the fixed term of the tenancy agreement has expired. This will provide a more cost-effective way of terminating the tenancy agreement even if the tenant is in breach. If you have any questions about this post or if you would like to discuss another property related matter with one of our advisors please get in touch here. About Pisoria Ltd We are a property management company with a difference: specialising in flat sharing, and focusing on the needs of tenants as our customers. Our properties are conveniently located close to transport links. They are tastefully renovated and furnished.  All properties boast good sized rooms and ample storage, kitted out with all the mod-cons and fast broadband. Plus, you’ll also find a lounge or communal space in all of our properties. This high quality all comes at a single reasonable monthly price, covering your rent and all of your bills.    

Is your London buy-to-let property correctly licensed?

[vc_row][vc_column][vc_column_text]Each London borough operates different licensing rules when it comes to buy-to-let properties, which can make things extremely confusing for landlords.  If you find yourself wondering if your London buy-to-let property correctly licensed, we can help. Whether your property needs a license or which licenses are needed for your property depends on a number of factors including the borough the property is located in, who resides at the property and how big the property is and how many stories is has. A HMO (House of Multiple Occupancy) licence is required for properties that have more than three floors and five or more tenants.  Additional and selective licences may also be required depending up on the area.   Selective Property Licensing Selective Licensing schemes have been implemented in many London boroughs and these can apply to almost all buy-to-let accommodation, not just HMOs.   Additional Property Licensing Any council is also able to introduce ‘additional’ property licensing for HMOs that fall outside of the scope of mandatory HMO licensing. At present, approximately a third of all London Boroughs have these licences in operation, with several others due to follow suit.  It’s vital that landlords and agents need to ensure that they are up to date with current licensing legislation. In the lettings market legislation changes so regularly it’s crucial you keep on top of the changes.  If your property isn’t inline with current rules you could face fines of up £30,000 and criminal conviction. At Pisoria, we constantly remain up to date with the latest licensing laws, therefore you can rest assured that your properties are complaint with legislation.  Find out more about how we can help you here. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_cta h2=”Did you find this article useful?” txt_align=”center” add_button=”bottom” btn_title=”Pisoria Newsletter” btn_style=”3d” btn_color=”black” btn_link=”|title:Pisoria%20Newsletter%20|target:%20_blank”]If you would like to receive more of the latest relevant updates for property investors and landlords, why not sign up for our free monthly newsletter? To subscribe simply follow the link below.[/vc_cta][/vc_column][/vc_row]

investments in property east london

Huge Property Investment Opportunity Within East London

Why East London Is The Top Hotspot For Buy-to-Let Investors The Pet Shop Boys may think it’s better to Go West, but if you’re a property investor planning to buy-to-let in London, Go East! London is notoriously one of the most expensive capitals in the world. However, the rental yields are extremely good. So how can you take advantage of a healthy rental income if soaring property prices prevent you from making an investment in the first place? Regeneration is the buzzword in London, and most of it is happening in the Eastern boroughs. Canary Wharf, Shoreditch and post-Olympic Stratford have paved the way for new housing opportunities and a better quality of life away that’s still within easy reach of Central London. And the good news is, there are certain areas in the East End that are still affordable, while rental yields are ever increasing, making them a great opportunity for potential landlords. Here’s why East London is the top hotspot for buy-to-let investors: Photo Courtesy of © Malc McDonald Regeneration The success story of Stratford, which before the 2012 Olympic games project was a derelict brownfield site, and is now a thriving, sought-after area, has set the standard for regeneration projects of other run down areas. Areas that are experiencing the ‘Olympic effect’ include Barking, Ilford and Hackney Wick, where industrial sites, abandoned factories, old warehouses and derelict Victorian buildings are being transformed into homes, luxury flats, chic restaurants and entertainment venues. Shoreditch also stands out as a regeneration success. The once run down borough was considered an undesirable place to live up until the 1990s. It is now a vibrant, dynamic and fun place to live, with an influx of creative and artistic businesses, renters and homeowners. More regeneration is planned, which will turn this thriving area into one of the most sought after postcodes in London. Crossrail Officially named the Elizabeth line, the crossrail link set for completion in 2019 has already been nicknamed the ‘Lizzie Line’. The much anticipated construction is set to transform rail links across London, seamlessly connecting the East with the West and beyond to Heathrow Airport. The Crossrail links will make commuting far easier and quicker, so more renters will be happy to move further East. Property Prices Once the Crossrail transport link is complete, it’s expected to have a direct impact on property prices in East London. Now is the time that wise investors can still afford to buy in the regeneration areas, and can expect to see a positive ROI in the years to come as demand for rental properties rise in these up and coming areas. Guaranteed Tenants Areas like Shoreditch, Canary Wharf and Docklands already attract professionals who want a dynamic lifestyle near to work. The lifestyle offered also means that many renters want a longer term lease in a comfortable and pleasant property that they can call home. Companies such as the Anthony Solomon Group offer Guaranteed Rent Schemes in London Pisoria offers a range of property management services for landlords in East London. For more information and advice on renting out a property in London, contact us today.

Rent a Room London

Rent a Room London

Opt For All Inclusive Rent in London If you have recently secured a job in London and are in search to rent a room London, it’s understandable to feel overwhelmed. Finding affordable housing in London, whether to buy or rent, can be a challenge due to the high cost of living. It’s important to consider what compromises you are willing to make on your ideal home, and to also consider alternative options such as living in a shared apartment or house. Additionally, researching neighbourhoods and areas with lower costs of living can also help you find a more affordable option. How to Rent a Room in London When searching for a Room to rent in London, it’s crucial to conduct thorough research to avoid ending up in a place that doesn’t meet your needs. Many landlords may exaggerate the size of a room or fail to disclose additional charges. To ensure a successful search for a house share, consider the following factors: By considering these factors, you’ll be better equipped to find a house share that meets your needs and budget. Additionally, it may be helpful to seek out recommendations from friends or colleagues who have experience finding rental accommodation in London. All-Inclusive Rooms to Rent in London If you’re in search of a Spareroom in London and have a limited budget, an all-inclusive deal may be the solution for you. Such deals are gaining popularity as they provide a convenient and budget-friendly way to manage finances. Pisoria offers its clients a comprehensive package that includes: All for a single monthly fee. This type of all-inclusive deal is particularly beneficial for those who are new to the city, as it eliminates the hassle of having to navigate multiple bills and payments each month. Additionally, it can also provide peace of mind by eliminating the risk of unexpected costs or hidden fees. It’s a great option for students, young professionals, and anyone looking to save money on accommodation while living in London. Furthermore, having all the bills and services included in one flat rate can allow you to budget your finances more effectively, and enables you to focus on other important aspects of your life, such as your job, studies or social activities. If you are looking for an all-inclusive accommodation option, Pisoria offers a comprehensive and budget-friendly solution that is worth considering. An all-inclusive accommodation package can provide a seamless and stress-free experience for those on a tight budget. With Pisoria’s package, there are no disputes over individual bills or usage, as everything is clearly divided and included in the flat monthly fee. This eliminates the risk of unexpected costs or hidden fees that can often come as a surprise when renting a place in London. Furthermore, having all the bills and services covered in one flat rate allows for better budgeting and financial planning. It also frees up time and energy that can be spent on other important aspects of life, such as work or studies. If you are looking for an all-inclusive accommodation option in London, Pisoria’s package is a great solution to consider. With everything included in one monthly fee, it offers a convenient, budget-friendly and stress-free option for those looking to rent a room in London. Added Extras In addition to providing budget-friendly all-inclusive packages, Pisoria also offers comprehensive support to ensure that our clients have a smooth and stress-free experience. We have an exclusive partnership with British Gas to ensure that our clients are never left without heat or hot water. We understand that life can be unpredictable and that is why we offer full flexibility with our minimum stay requirement of 6 months and a short notice policy. To ensure that our clients have the best experience possible, we have strict standards for our landlords, so you can rest assured that you will find a room that meets your needs and exceeds your expectations. When it comes to rental agencies, Pisoria has a reputation for having one of the best portfolios in London. We pride ourselves on our ability to find you a room to rent in London quickly and efficiently. With our all-inclusive packages, comprehensive support, and exclusive partnerships, Pisoria is the ideal choice for anyone looking for a room to rent in London.

Property Management London

Property Management London

5 Benefits of Flat Sharing in London Looking for accommodation in London is a very arduous task indeed. With rising house prices and decent rental properties getting snapped up within seconds of being advertised, more and more people are turning to shared accommodation in London. Looking For a London Based Property Management Agency When it comes to property management, London firms are seeing a rise in people renting out rooms in their home or people looking for room only, rather than a property of their own. If you are thinking of flat sharing, let the best property management company London has to offer (Pisoria) give you a breakdown of the top 5 benefits of flat sharing. 1. It is Cheaper The most obvious benefit of renting a room rather than a whole flat is that you can share the costs of the whole property. Splitting the costs of additional rooms in the house means that you can make living in the city much more affordable. While you are saving on rent, you will have the opportunity to gather the money for a deposit on a mortgage or a more permanent place to rent. If you are looking for advice on typical deposit expectations from estate agents, London team Pisoria is at hand for advice. 2. You will Make Friends If you are moving to London from another part of the world, it can be very lonely until you get to grips with the city and make friends. By flat sharing, you will instantly be in company and you can interact with other people as little or as often as you like. 3. You can Share Chores If you work long hours keeping on top of cleaning, washing and cooking may be all too much. By sharing a house or flat you can devise a rota to share chores and make maintaining your home a little bit more achievable. 4. Less Commitment While you will have a contract to sign when you agree to take a room, renting a room holds a lot less responsibility than taking out a long-term rental. You will need to agree how much notice to give to the person you are renting off but terms and conditions are usually much more relaxed than full property rentals. 5. You can be Closer to the City Much of the affordable housing in London is outside of the city centre so you may have to commute in and out. By renting a room you can afford to live closer to the city which means that you can cut down on travel costs and look forward to an extra few minutes of sleep each morning! Whether you want to rent a room for a short period or you love the idea of sharing long-term, it is definitely an option to consider if you want a cheap and convenient place to stay in London. For the best in property management, London-based Pisoria has one of the best portfolios London has to offer and we are waiting to help you in your search to rent a room in London.