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Reside & Friends support Bath Rugby at Twickenham

On Saturday 24th April, Reside took 20 close friends and colleagues to watch Bath Rugby play London WASPs at Twickenham at a special Help for Heroes charity league match. The weather was beautiful and before the game started, troops walked around the pitch to huge praise and applause from the 60,000 + fans and then 8 of them proceeded to abseil down the four corners of the stadium, flying the St. George flag.

The game started with two WASP penalties going through the uprights giving them a small lead of 6 points only to be followed by a superb Bath try by Joe Maddock, converted by Olly Barkley. The atmosphere was incredible as Joe Maddock went on to score a hat trick of tries and Olly Barkley adding a fourth. The final score was WASPs 19 Bath 35. Bath gaining the all important win and bonus point puts them in fourth place in the league.

Thank you Bath Rugby for an amazing day out!

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AST Threshold increase from £25,000 to £100,000.

The Statutory Instruments to increase the maximum rent threshold of an Assured Shorthold Tenancy (AST) from £25,000 to £100,000 have now been published by Parliament and much of it’s information provided to the National Landlord’s Association (NLA).

At this point in time, legislation associated with the Housing Act 1988 (as amended) states that tenancies formed with annual aggregate rent greater than £25,000 cannot be ASTs. These tenancies are formed on a contractual basis and are sometimes referred to as ‘non-Housing Act’ tenancies. Tenancy terms are negotiated and agreed by the landlord and tenant and are not enshrined by statute.

The Assured Tenancies (Amendment) (England) Order 2010 will come into force on the 1st of October 2010 and will be retrospective. As a result, any tenancy with an annual rent between £25,000 and £100,000 in existence on 1 October 2010 will become an AST overnight. Landlords and tenants will nolonger be able to negotiate individual terms for their tenancy. This means that all of the rights and responsibilities associated with the Housing Act 1988 will be extended to higher rent properties for the first time.

The original threshold was introduced in order to exclude ‘luxury lets’, however the limit was established in 1990 and has not been revisited to take account of inflation since. The Government consulted as a result of a Rugg Review recommendation and decided to increase the threshold to £100,000 as a result. This figure will subsequently be reviewed at five yearly intervals.

The most obvious and immediate affect of the increase is that all Tenancy Deposits will be protected under the Deposit Protection Scheme (DPS). The Dipsute Service and other DPS members will see a huge increase in registered deposits overnight.

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New HMO Legislation

Tuesday the 6th of April 2010 saw the controversial Statutory Instrument 653 come into effect. The new law will see landlords required to gain planning permission if they want to let out their House in Multiple Occupancy (HMO) to three or more unrelated individuals.  The Town and Country Planning Act has created a new planning class for HMOs, designated C4, that now requires landlords to apply for permission to change the use to open a new letting property that is altered from a family home to a shared house.

The legislation is not retrospective and will not affect properties with an existing use. HMOs that already house three or more tenants, will not have to apply for retrospective permission because they already have ‘established’ use from the date new legislation is enforced.

The aim of the legislation is to prevent so-called ‘studentification’ whereby rows of terrace houses in university towns and cities are rented out to students. The Government believes this is a problem, although its own advisers in the Rugg Report said it was not.

Landlord groups have been fighting to prevent the change happening, and David Cameron has tabled an Early Day Motion to get it rescinded. Robert Jordan, former ARLA president, said many agents remain unaware of the changes. He, like the landlord groups, believes that the supply of shared rental accommodation will become restricted, with landlords unwilling to pay the cost of obtaining planning permission with the possibility that they might also have to pay to have their HMOs licensed.

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