Property Management – Level 1 Flashcards
• What are the main points of the L&T Act 1985?
- The L&T Act 1985 refers to short leases less than 7 years for residential property.
- The 1985 Act sets the rights and responsibilities of both the Landlords and Tenants.
- Section 11 of L&T Act sets out who is responsible for repairing the property whilst rented.
- The Act requests that the property is kept in repair and to keep up the standard of repair.
- The Act does not impose a duty of improvements.
• What was introduced under the Housing Act 2004 in relation to fire safety?
- The Housing Health and Safety Rating System (HHSRS)
- To keep fire escape routes clear and checking tenants understand they need to do the same.
• Which Act introduced Home Information Packs?
- The Housing Act 2004.
• Does the tenant fee act only apply to new tenancy agreements?
- No to all tenancies.
Tell me about the main principles of RICS Professional Statement and Guidance of Real estate management 3rd edition, October 2016?
- Ethical Conduct
- Instructions
- TOE
- New Lettings & Lease Renewals
- Rent Demands
- Rent Arrears
- Inventory
- Repairs
- Ending Instructions
- Ethical Conduct – Honest, Fair, Transparent and Professional Manner.
- Securing Instructions – Conflict of Interest Check
- Terms of Engagement to be agreed.
- New Lettings and Lease Renewals.
- Managing Real Estate – Submitting Rent Demands.
- Dealing with Rent arrears.
- Carrying out an Inventory.
- Dealing with repairs.
- Confirm in writing about ending the instruction.
• Tell me about the Landlord and Tenant Act 1985 - Section 11
- Building
- Services
- Certificates
- Section 11 of L&T Act 1985 stipulates the repairing obligations of the Landlord. Which is to keep and maintain in repair the fabric of the building.
- Gas
- Electric
- Water
- Drainage
- Heating.
- Landlords Gas Safety Certificate is required.
- Fire and Furnishings Certificate is required for furnished property
- Electrical Certificate is now required along with a PAT Test.
• Tell me about the Housing Act 1988
- The 1988 Act allowed Landlords to set the rents they want to charge.
- The 1988 Act introduced Assured Shorthold Tenancies.
- The AST gives the Landlord the right to regain possession by certain methods
- Section 21 (No Fault Possession) allows the landlord to gain possession at the end of the tenancy providing they have given a minimum of 2 months’ notice and provided prescribed information to the tenant including protection of the deposit.
- Section 8 notice can be served during the tenancy if the tenant is in rent arrears or is causing anti-social behaviour.
The landlord also has the right to enter providing at least 24 hours’ notice has been given. If in an emergency a landlord or Agent can gain entry to the property so say sort out a burst pipe.
• Tell me about the Housing Act 2004?
HHSRS
HIPS
DPS Schemes
- The Housing Act 2004 introduced the Housing Health and Safety Rating System.
- Along with Home Information Packs.
- The tenancy deposit schemes were introduced.
• Tell me about the De-regulation Act 2015 with full effect in 2018.
Notice.
Information.
New Notice.
Notice Months
Proceedings
- Landlord cannot serve a Section 21 notice in retaliation.
- A requirement to provide prescribed information which includes Landlords Gas Safety, Confirmation of the Deposit being registered within a scheme and How to rent checklist.
- New combined Section 21 notice
- Cannot serve a section 21 notice within the first 4 months of a term.
- Proceedings must be started within 6 months of the Section 21 notice.
• Tell me about the Tenant Fees Act 2019
Banned.
Deposit cap.
Admin.
Change of details.
Tenant vacates early.
- It is illegal for a Landlord or Agent to charge any fees for a new or renewal tenancy.
- All costs need to be passed on to the landlord.
- The deposit is capped at 5 weeks.
- However, the Agent/Landlord can charge an admin fee for late rent payments if 14 days late.
- They can charge for a change of details to the tenancy such as adding pets to an agreement capped at £50.
If a tenant leaves early, then rent can be charged up until a new tenant has been found.
• Tell me about The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020.
Date for new tenancies.
Date from all tenancies.
- From 1 July 2020 for new tenancies, landlords must ensure that electrical installations are inspected and tested by a qualified person before the tenancy begins
- From 1 April 2021, for existing tenancies, an electrical safety test will need to be carried out by 1 April 2021.
• Tell me about the Coronavirus Act 2020 in relation to tenancies.
Eviction period.
Extended.
Exceptions.
Section 21 (4D)
- Originally no evictions could take place until 3 months’ notice was severed.
- This then got extended to 6 months.
- Extended notices now ends on 31st May 2021
- However, the exceptions to the rules are Anti-Social Behaviour for Grounds 7A for 14 in Schedule 2, Domestic Violence and Rent Arrears if at the time of notice the tenant was 6 months in arrears.
- Section 21 (4D) now allows landlords to start possession proceedings from 6 to 10 months.
