Renting property has become a minefield and often misery for tenants. Now the vision of one man could put an end to that lottery that can lead to tenants losing thousands of pounds and even being homeless. The ambition of an enterprising new company www.uklrs.org.uk is to make the rental market less volatile and more user- friendly.
www.uklrs.org.uk wants to take the pain out of property rental and make landlords more accountable not just for their property but to adhere to the legal rights set out by the Property Ombudsman, Mr Christopher Hamer. In The Letting Code of Practice the Ombudsman has set out it is clear and rigid that registered letting agents must abide and operate within the Ombudsman’s standards of service for both landlords AND tenants.
This code is compulsory and rigorously applied in handling complaints and the maximum the Ombudsman can award in compensation for any complaints is £25,000. www.uklrs.org.uk is hoping their company can provide an alternative to tenants having to spend hours and money seeking compensation from landlords and finding homes of quality and landlords who are reliable.
www.uklrs.org.uk is a unique website that will be an instant directory that hopefully will give tenants an instant look at potential, landlords in their area that have been vetted to meet the company’s strict guidelines. It will be a directory at your fingertips that will be available 24/7 - 365 days a year.
There’s no hiding place for unscrupulous landlords, say www.uklrs.org.uk
It will mean there will be no hiding place for unscrupulous landlords who fail to declare their income from their rented out property or in many cases properties that are sold without Capital Gains Tax being declared. Taxable income that it is estimated is losing the Chancellor many millions of pounds in unpaid tax every year.
Last year around 100,000 new homes were built in England and Wales when the target was 250,000 so there remains a dire shortage of all forms of property and people are turning to the only choice they have and that is to rent. But the market has produced some horror stories of brutal evictions, one case in Edinburgh a landlord threatened to SHOOT his tenants and was subsequently taken to court. Many properties are being scooped up on vast mortgages that in some cases landlords cannot pay and when the properties are repossessed the poor tenants are again made homeless and never get compensation because their landlord has either gone bankrupt or simply vanished.
UKLRS will, hopefully, be opening its doors in Stevenage, Hertfordshire, very soon and will attempt to revolutionise the home rental industry. It is hoped the company will eventually have a staff of around 100 as it expands to deal with what has become a vibrant market but one that has been stained with bad publicity and what seems no real organisation to bring it under an umbrella of outside authority and bring some respect to the industry.
www.uklrs.org.uk will make landlords more accountable and help the Government know how many landlords there are in the UK. Estimates suggest there are one million but the true figure could be double. It seems unbelievable that so many landlord businesses are not accounted for.
UKLRS will hopefully become part of the UK’s creative boom. It will not only encompass all the legal side of tenancy agreements and help tenants with grievances but give landlords some respectability. The company will hopefully be able to stamp out capital gains tax avoidance to make landlords more accountable, responsible and registered so for the first time ever, the Government will know how many landlords there are in the UK with profit and loss accounts and paying their due taxes.
Now there is no excuse for unscrupulous landlords to hide. www.uklrs.org.uk will make sure the industry is properly policed and tenants protected and will also urge the Government to back their futuristic scheme. Only when the Government of the day backs this new venture will the current pitfalls of the home leasing industry become a thing of the past. This should perhaps have been proposed years ago.
As one disgruntled tenant recently shouted after losing her home: “A properly funded, efficiently enforced register would solve everything.”
We believe we can bring that hope into reality with our scheme. We genuinely believe if we get the support from landlords and the Government and the avalanche of annual complaints will be a thing of the past. Tenants will know their rights and have somewhere to instantly turn to for help and guidance before they sign any contracts that could cost them a fortune.