TheNews MANAGEMENT
Cannabis factories reach new high
Landlords are being warned about the possibility of their premises being used as cannabis factories as UK police forces report increasing numbers of private rented houses being used for drug production; more than 20 farms and factories are being uncovered every day in England and Wales. LetRisks has issued guidelines
to landlords as to how to spot signs that their premises may have been hijacked by drug producers, these include visits to the property at unusual times of the day or night; windows of a property permanently covered from the inside and excessive noise from equipment such as cooling fans. Michael Portman, Managing
Director of LetRisks said, “Landlords are allowing their properties to be rented in good faith and then finding it has been turned into a cannabis factory, leaving them with a huge bill. The damage can be extensive, with internal walls ripped and stolen electricity. “The more information collected
on the tenancy application the better, because should the tenant subsequently abscond or leave owing money, this can be used to give vital tracing information.”
FINANCE
Venmore pools resources
Liverpool’s oldest property auctioneer, Venmore, is the latest auction house to team up with lender Auction Finance Limited. The agreement means investors can get funds transferred within 24 hours following completion of an auction so they can meet the tight deadlines under auction rules.
Maria Barrigan at Venmore
Property Auctions, said, “The agreement gives us a competitive edge in the current financial climate, enabling investors to agree lending decisions quickly on the property that they want on the day.”
6 l August 2012 l TheNegotiator LETTINGS Rental sharers move up
Whilst there has been a steady rise in the number of tenants wishing to share rental properties in order to split bills and save money, some landlords are less willing to accept such living arrangements, according to Townends, part of the Badger Holdings Group. The agency has found that
despite the increasing professionalism of the typical private tenant, landlords are concerned that groups of sharers will cause greater wear and tear to their property. However, landlords who are open to renting their property to sharers make themselves available to a much larger pool of applicants who can also help
minimise void periods and maximise rental income. Caroline
Caroline Kavanagh
Kavanagh, Managing Director of Townends Lettings and
Management says, “The concerns of landlords are understandable but those that are more accepting to the changing needs of the marketplace stand to benefit. The image of sharers is no longer just students - but reflects a greater likeness of the sort of professional applicants that are enquiring, who tend to make excellent tenants.”
DEPOSITS
Students should be cleaning up
Tenancy Deposit Scheme and Unipol are warning university students leaving their accommodation at the end of the summer term about the potential costs that could be incurred for failing to tidy up properly after themselves. Students could face a bill of £100 to get the kitchen professionally cleaned, £95 for an oven and £40 for a fridge; whilst throwing out the rubbish can cost up to £50. The ‘Door Card’ campaign is being circulated through all the student accommodation provided by Unipol, the country’s biggest provider of student rentals. The cards provide examples of deposit deductions and other potential reasons for the legitimate non-return of deposits, which include non-payment of rent and other bills and what happens in the event of leaving early as well as the costs of cleaning and making good. The cards also suggest asking for a pre-leaving inspection to double check precisely what needs to be attended to before leaving. They also warn that if cleaning contractors have to be called in, the costs of travel, VAT and management time can leave the landlord with bills that are higher than the deposit paid. These amounts, which are recoverable in law, have to be added to the bill for deposit clearance. Steve Harriott, Chief
Executive of the Tenancy Deposit Scheme, said, “Some students forget how deposit protection works, why deposits are paid and how to get them back.” Martin Blakey, Chief
Executive of Unipol Student Homes, said, “It is all too easy not to clean and tidy the house but the cost to a landlord to get this work done commercially is often a lot more than students think. This card campaign will provide students with all the information and incentive they require to end their tenancy well.”
www.thenegotiator.co.uk
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