Why Private Rental Regulation Is Good News for Nine Elms

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With calls for regulation among the private rentals sector, our Nine Elms Letting Agents take a look at what exactly regulation would look like and who it would benefit.

Private Rental Sector in SW8

The private rental sector has a huge role in today’s housing market. Henry Wiltshire Nine Elms sees a lot of private rentals on an annual basis in SW8 and surrounding areas such as Battersea & Vauxhall.

Current regulations are there to keep tenants safe with electrical and gas safety certificates being necessary. Tenants should however, not only be kept safe from danger but should live in accommodation that is sufficient to suit all of their needs. It should be presented and kept in good condition and should not be left to deteriorate over the years.

Property MOT

Property MOT is a chance for tenants and landlords to maintain a good solid relationship.

Nationwide Foundation funded a private sector report which has put forward a case for ”property MOT” which would monitor all rental properties and help to keep a high standard of accommodation in the rental market throughout the whole country.

Our Nine Elms rental team welcomes this proposition. It would mean an annual health check inspection for each property which would ensure that the property is still at a high enough standard to be considered comfortable and habitable for tenants. The MOT would be carried out by independent inspectors and the cost would be tax-deductible for landlords.

Good News For Nine Elms Landlords and Tenants

The rental market in London is particularly busy with a huge turnover annually. While the team at Nine Elms would property manage a large amount of rentals this proposal would ensure that all tenants receive the level of accommodation they are paying vast sums of money for.

David Smith of RLA has said ”We welcome the report. No one should have to face living in substandard accommodation.” There is an onus on landlords to provide a good standard of property. There is an onus on tenants to keep it to that standard. Julie Rugg, senior research fellow at the University of York said the proposal would ”give people confidence before they sign a tenancy that the property is fit for purpose and that standards won’t lapse in the future.” Landlords will ultimately be protected if they comply with the new system.

Thinking of Renting in SW8?

If you have a property in Nine Elms or surrounding area you would like us to manage or you are a tenant looking for a property, give us a call. We have an experienced team of professionals that can help you.

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