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The Landlord Vision property management software blog

Keep up to date with the latest landlord news

Rental Deposits Could Soon be Capped at 5 Week’s Rent

A picture representing time and money

The government may be embroiled in Brexit woes right now, but it has managed to find the time to do a u-turn on its decision to cap tenant deposits at six weeks. Lord Kennedy of Southwark and Lord Bourne of Aberystwyth have tabled an amendment to the Tenant Fees Bill that would see deposits capped at five weeks instead of six weeks.

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Most Landlords are Struggling to Make Ends Meet

Man with empty pockets

Research carried out by the National Landlords Association (NLA) has found that 79% of landlords are making so little money from their property rental businesses that they can only afford to pay the interest on their mortgages, not the loan capital.

“There are myriad costs to running a letting business, including maintenance, repairs and upgrades, licensing, and insurance. Rents have to cover all these costs, as well as the interest on a mortgage, where there is one,” says Richard Lambert from the NLA.

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Landlords are Waiting Months to Reclaim Properties after Applying to the Courts

Someone waiting in an official building

Figures released by the Ministry of Justice have revealed that landlords are having to wait more than five months to get their property back after going to court. This scenario occurs when a landlord wants to evict a tenant because they haven’t paid the rent or are in breach of their tenancy agreement for some other reason but refuse to leave. The Residential Landlords Association say the wait is intolerable.

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