Updated Right to Rent Guide following dramatic increase of fines and responsibilities for landlords.
Orchards Guide to the updated Right to Rent Checks in England:
As part of our commitment to supporting landlords, Orchards is here to guide you through the latest updates and requirements for Right to Rent checks in England. With new regulations in place, it's crucial to ensure compliance to avoid substantial fines.
Introduction to Right to Rent Checks: These checks are mandatory for landlords to verify the immigration status of tenants, ensuring they have the legal right to rent in England. Failure to comply can result in significant penalties.
Recent Updates: From February 2024, fines for non-compliance have increased significantly, emphasizing the importance of diligence in conducting these checks.
How to Conduct Checks: Landlords can perform manual checks by reviewing original documents in the presence of the tenant or use the Home Office's online verification service for digital checks. It's essential to keep records of all checks performed.
Special Considerations: For tenants from outside the European Economic Area (EEA) with digital proof of status, landlords must use the Home Office's online checking service. Manual checks are no longer an option for these cases.
Compliance and Penalties: Ensure compliance by understanding the types of Right to Rent checks required for different tenant situations. Non-compliance can lead to fines up to £20,000 for repeat offenses.
Future Developments: Stay informed about potential future changes, such as the introduction of digital checks, to remain compliant and avoid penalties.
Orchards is here to support landlords through these changes, ensuring you have the information and resources to comply with Right to Rent checks. For more detailed guidance, visit the official government website or contact our team for personalised advice.
Landlords with their property already managed with Orchards can sleep easily, knowing their property is always fully compliant and in safe capable hands.
Quality Tenant Guarantee - The new guarantee included as standard for all managed landlords
Orchards are proud to be launching our brand new Quality Tenant Guarantee.
From today as standard all of our new managed lets will be given our quality tenant guarantee, meaning that if a tenant we find moves out early or causes issues, you're covered with our free re-letting service. We're here to give you peace of mind and support every step of the way.
Investment Opportunity - Lake View, Marston Moretaine - 5.99% Gross Yield - Freehold
We are pleased to offer this investment opportunity, currently on the market for £290,000 however we believe that with a chain free purchaser, an offer of circa £270,000 could be acceptable.
Based on this purchase price and a refurbishment cost of £20,000 and a rental income of £1,500pcm the property should yield at 5.99%.
LONG TERM HOLDING VALUE
We know most of our landlords look to hold properties for a long term. Below is an illustration based on a 5% annual appreciation of property values
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