Would you have ever guessed that your tenant could be turning your property business into cannabis plantations? Privately-rented residential properties across the UK are facing this menace and an ever growing number of landlords simply are unaware of this nuisance that is taking place right under their nose. A nationwide campaign is underway to cut down on the growing instances of cannabis plantation operations

In Scotland, the problem is so serious, that it now turns a profit of over £100 million, which is much greater than the revenue of Scotland’s entire farming industry.

Every month around £500,000 worth of cannabis is uncovered by the Scottish police, and more than 1,900 plants are usually recovered during this period.

As landlords, we need to try to get to grips with this as it is our responsibility to ensure that tenants do not use the rented property for illegal purposes.

In fact a large number of tenants who take part in these illicit activities are illegal immigrants in the UK. One of the best ways to forestall any problems is to insist on a government-issued identification before any lease is agreed upon.

We must play a key role in stopping these operations, as failure to do so not only leads to very serious damage to our property, but also results in violence and unsafe neighborhoods.

GMAC, one of the largest mortgage lenders in the UK who focused on residential property loans, now face the prospect of £10 million in fines. The property lender is being accused of overcharging its clients and now will have to make amends by returning a staggering £7.7 million in interest. According to the Financial Services Authority, the clients were forced to pay extra under unreasonable circumstances.

The FSA claims that GMAC went ahead with repossession procedures much before exhausting all alternative options. Some clients were charged unreasonable fees and interest despite of having successfully made payments on their loan. Those who were unable to pay their balance, their cases were forwarded to solicitors.

The FSA found that GMAC botched up the proper assessment of the financial situation of clients with outstanding debts, before looking for alternative payment solutions.

GMAC now has to pay £7.7 million to mortgage holders, apart from a separate fine amounting to £2.8 million. The mortgage provider will be required to also pay interest on the sum returned to consumers, so the £7.7 million amount will only end up being higher.

This ruling is sure to impact residential landlords and regular homeowners as GMAC has lent more than £12 billion each year to these two groups.