LETTINGSnews


TENANCY DEPOSITS Five years of success for DPS


Since its launch in 2007, The Deposit Protection Service (The DPS) has attracted


• 59,000 landlords registered • Over 4,000 letting agents have


with the scheme each year;


• Over 62,000 new landlords • The number of live deposits


registered;


protected increased by 144,109; • 53,000 deposit repayments


took place each month; The number of deposits paid


REPORTS


CLG report recommends simplification for the PRS Ian Potter (pictured),


The CLG’s Eleventh Report, Financing of new housing supply was published on 23rd April.


With regard to the Private


Rented Sector, the report concluded that, “While it is right to consider the potential for large institutions to invest in the Private Rented Sector, it is also important to remember that the sector is, and will be, dominated by small companies and individual landlords. Although smaller landlords tend to invest in existing property, they do make an indirect contribution to new housing supply, and in the past have provided upfront funding for development by buying property ‘off-plan’. “There are a number of issues facing those in the


54 JUNE 2012 PROPERTYdrum


sector, the financial crisis had a significant effect on the availability of buy-to-let mortgages; many landlords no longer have the benefit of capital gains; and there is some concern about the levels of return. We have heard that the burden of regulation and taxation has deterred landlords from expanding their businesses. While constraints on mortgage finance will continue to affect investment in the sector, the Government could provide SOME support by taking steps to address this. “We recommend that the


Government bring forward a set of proposals to simplify the tax and regulatory structures that apply to private landlords. These proposals should aim to create an environment in which small private landlords are encouraged to expand their portfolios and invest in new build housing.


Operations Manager at ARLA, said, “The property market today is over-taxed compared to the rest of Europe, simplifying the taxation system for smaller landlords would be a positive move that could help boost investment in the PRS. “Key to the recovery of the housing market will be in increasing investment options and opportunities for social and private landlords, and homebuyers, across the whole market. Accepting the proposal to simplify tax systems for smaller private landlords would therefore be a step in the right direction for Government, but only one step.” CLG Select Committee report, Financing New Housing Supply is at: www.publications. parliament.uk/pa/cm201012/ cmselectcmcomloc/1652/ 165202.htm.


signed up every month; The scheme had average annual growth in the number of tenancies of 42 per cent. The DPS was five years old on April 6th 2012, during its previous year of operation:


increasing numbers of landlords, letting agents and tenants and has now launched in Scotland. The DPS protects 870,000 deposits worth £685 million, for 300,000 landlords and agents and over 1,250,000 tenants. During the last five years:


into The DPS topped 500,000;


• 2157 (36 per cent) awarded • 2933 (48 per cent) split award.


solely to landlords; solely to tenants;


‘It’s been great to see so many choosing us!’ In Scotland, Glasgow Property


Lettings Ltd has been protecting their deposits with The DPS since 2008 and currently has around 70 deposits protected with the scheme. Colin Macmillan, MD, said, “We’ve been protecting deposits since 2008 even though as a Scottish agency we haven’t been required to until now, we feel very strongly about the peace of mind and reassurance that deposit protection offers our clients, both landlords and tenants alike. We can be sure of their experience and


• 6056 adjudications took place; • 966 (16 per cent) awarded


The scheme made its millionth deposit repayment to tenant Yvonne Stenning, whose deposit was protected by Wendy Carman from letting agent Molica Franklin.


confident that our tenants’ deposits will continue to be protected to the highest level.” Following the set up of The


Tenancy Deposit Schemes (Scotland) Regulations 2011, the company behind The DPS (Computershare Investor Services PLC) has also created The Letting Protection Service Scotland (The LPS Scotland), which is the first Scottish Government Approved deposit protection scheme. Kevin Firth (pictured) commented, “We are delighted to be approved by the Scottish Government to operate a tenancy deposit scheme in Scotland and will be building on the popularity of the scheme in England and Wales. “We’re proud to be delivering deposit protection to such a significant volume of tenants, landlords and agents particularly as we did not have an existing member base. It’s been great to see so many landlords and letting agents positively choosing to safeguard their tenants’ deposits with us over the last five years.” www.depositprotection.com www.lettingprotectionscotland.com


DRUG FARMING Cannabis grown in Mold


Three Merseyside criminals turned a magistrate’s seven- bedroom country


home into a drug factory. The Liverpool echo reports that the men trashed the secluded North Wales house to harvest hundreds of cannabis plants.


Mold Crown Court heard how


Wirral transport manager John Alderson, 51, rented the house from Wrexham magistrate Lloyd Fitzhugh. A false name was given to


estate agents who accepted a £2,000 deposit and payments of £800 a month. They were told it was to be used as a family home by a couple.


Judge Niclas Parry heard how Alderson, of Leasowe, forged his wife’s signature to secure the house, and took another woman with him to avoid suspicion. He was jailed for four years for cultivating cannabis, with Thomas Whitfield, 42, of West Derby, who was jailed for 3½ years. Both had denied involvement. When police raided the


premises, near Wrexham, they found 345 cannabis plants with a potential street value of £92,800. James Marshall, 35, of North Road, Birkenhead, admitted to cultivating the drug on the basis he was employed there for a week while addicted to drugs and alcohol. He was jailed for 18 months after the court heard he had transformed his life and become a volunteer, helping other alcoholics and addicts. Judge Parry said they were involved in a “sophisticated, professional, large-scale operation capable of providing significant quantities of cannabis for commercial use”.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68