Editor's note: This brief was summarised by The Property AI Team from a report by Landlord Today. Read the original article for full details.
Tribunal decisions make rent rises tougher to implement
Lettings trade body Propertymark says hard evidence, accurate property descriptions and a realistic assessment of a property's condition are all required before a rent rise can be implemented. The organisation examined First-tier Tribunal decisions made in August and September involving properties in Leeds, Manchester, Ashton-under-Lyne, and London.
The findings, reported by Landlord Today, suggest the bar is set high for landlords and agents seeking to justify rent increases through the tribunal process.
For letting agents, documentation and accuracy matter: descriptions must reflect the property as it stands, and condition must be assessed realistically rather than optimistically.
Source: Landlord Today