letting agent walsall

How many Walsall properties will be illegal to ‘Rent Out’ in 2018?!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
How many Walsall properties will be illegal to ‘Rent Out’ in 2018?!
How many Walsall properties will be illegal to ‘Rent Out’ in 2018?!

For the last 10 years, every private rental property must have an Energy Performance Certificate (EPC) rating before being marketed.  The property is given an energy rating, very similar to those on washing machines and fridges with the rainbow coloured graph, of between A to G (A being the most efficient and G the worst).

New legislation comes in to force next spring (2018) for English and Welsh private landlords making it illegal to let a property that does not meet a certain energy rating.  After the 1st of April next year, any new tenant moving into a private rented property or an existing tenant renewing their tenancy must have property with an energy performance rating of E or above on the property’s EPC and the new law will apply for all prevailing tenancies in the spring of 2020. After April 2018, if a landlord lets a property in the ‘F’ and ‘G’ ratings (i.e. those properties with the worst energy ratings) Trading Standards could fine Walsall landlords up to £4,000.

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Walsall Town Centre, Tameway Plaza – ‘No Mortgage’ Investment Opportunity

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , , ,
Tameway Plaza - Walsall Town Centre
Tameway Plaza – Walsall Town Centre

If you follow the Walsall Property Market News like I do (not just the residential) then, you will be well versed with past, present and planned future developments.  Amongst the proposed £90m transformation of the town centre recently it has been announced that more than 100 jobs will be created by developing a piece of derelict land back into commercial use with a further £6.9m investment.

In recent years we have had the new 24hr Tesco, the Primark development (which was extremely busy on Saturday), The Quarter has just been finished with Poundland and B&M taking up occupation anytime now and there are plans to revamp The Saddlers Centre!  So, with all this happening around the commercial side of property “what about residential” I hear you ask…?

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5 reasons why NOT to use Gumtree to let a Walsall Property

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
5 reasons why NOT to use Gumtree to let a Walsall Property
5 reasons why NOT to use Gumtree to let a Walsall Property

Honestly I could write a book about this. Time and time again through my agency career I would have landlords calling me, desperate for advice after they’ve placed a “lovely” tenant in their property using a free (or low cost) DIY advertising website. The tenant presented themselves as honest, open, and above all very capable of paying the rent.

But the truth is a different matter. They got into the property by deception, and ended up costing these landlords thousands of pounds in damages, unpaid rent, and above all…the stress. These landlords had to cover the mortgage whilst funding the legal battle. One made very difficult because they weren’t aware of all the legislation surrounding lettings. This could prejudice their position in court. Didn’t serve the Prescribed Information? Didn’t register the deposit within 30 days? That means the tenant could actually sue you for 3 times the deposit amount! And there’s more…

It has been said that some 30% of the PRS is made up of accidental landlords (Source: Landlordnews.co.uk). Here lies the problem. As an accidental, or amateur (not a bad thing!) landlord, it is unlikely that they invest the time to make themselves aware of all the legislation surrounding lettings. There is a lot, but as the saying goes “you don’t know what you don’t know,” so most are blissfully unaware – until it goes wrong, and they can do with disastrous consequences!

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Today’s Buy To Let Deal, Pimpernel Drive, Walsall, WS5 With Yields Of 5.73%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

A modern two bedroom terraced house, Pimpernel Drive, Tamebridge, Walsall, WS5. The asking price is £110k with Purple Bricks (01926 267659).  The full property details can be found here.

Located on the very popular and desirable Tamebridge estate and therefore has the potential for long term letting.

There are some changes to be made in terms of the decor and the rear garden will need to be attended to. It has a modern kitchen and bathroom, gas central heating, double glazing and off-road parking.

This top notch property will attract a minimum pcm rental of £525.00 meaning a rental yield of 5.73% based on the current sale price.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook:https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

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Do we have a ‘triple speed’ Walsall property market?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Do we have a ‘triple speed' Walsall property market?
Do we have a ‘triple speed’ Walsall property market?

As you might imagine…“What’s happening to the Walsall Property Market?” is a question I am asked often & repeatedly.  Well, would it be a surprise to hear that my own research suggests that there isn’t just one big Walsall property market – but many small micro-property markets?  In the past I have written about the dual speed Walsall property market but now I’m seeing the emergence of three!

For ease, I have named them the…

  1. ‘lower’ Walsall Property Market.
  2. ‘lower to middle’ Walsall Property Market.
  3. ‘middle’ Walsall Property Market.

The ‘lower’ and ‘lower to middle’ sectors of the Walsall property market have been fuelled over the last few years by two sets of buyers.  The first set, making up the clear majority of those buyers, are cash rich landlord investors who are throwing themselves into the Walsall property market to take advantage of enticingly low prices and even lower interest rates. The other set of buyers in the ‘lower’and ‘lower to middle’ Walsall property market are the first-time buyers (FTB), although the FTB market is in a state of unparalleled deadlock as it’s been trampled into near-immobility and incapacity by the new 2014 stricter mortgage affordability regulations and also fewer mortgages with low deposits.

Some of you may be interested to know how I have classified the three sectors…

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Today’s Buy To Let Deal 2 Bed Terraced House, Penmire Grove, Walsall, WS4. With Yields Of 5.08%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

A 2 bedroom terraced house on Penmire Grove a new build housing estate about half a mile south of Rushall, Walsall, WS4. The property is being marketed by Bairstow eves (01922 321791).

The spec looks right on the money with no major issues that need immediate attention. Marketed at offers of over £130k, however it is interesting to note that the price has been reduced by £5k 2 months ago. I think that any offers over £130k are a bit too optimistic as the last sale price was £130k in Feb of this year.

The estate has an exclusive feel about it as it is somewhat off the beaten track. There is double glazing and gas central heating and off-road parking and is within easy reach of the major transport networks making quick commuting to other town centrs close by. There are a large variety of schools all within a mile plus healthcare and shopping amenities locally.

The appraised rental value is at £555.00 and if the property sells at the current asking price, this would mean a yield of 5.08%.

For the full property details click here.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook: https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

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Today’s Buy To let Deal Yields 5.77%. Newbuild 2 Bed Terraced House, Elter Close, Willenhall, WV12.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

A newbuild two bedroom terraced house, Elter Close, Willenhall, WV12. It sits on the new Spring Lane estate in the Ashmore Park area of Wilenhall. The asking price is £130k and currently marketed by Bairstow eves (01922 312791). At a rental of at least £625.00 the yield will be 5.77%.

The internal spec is immaculate and absolutely ready to go. Two double bedrooms with en-suite in one, a modern kitchen and bathroom. This is all complimented with gas central heating and double glazing with a small sized low maintenance rear garden. But as always my advice is to book a viewing and go and have a look for yourself.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook: https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

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Today’s Buy To Let Deal Yields 6.07% 2 Bedroom Semi Detached House, Lindon Drive, Walsall, WS8.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

A two bedroom semi detached house, Lindon Drive, Brownhills, Walsall WS8. The asking price is in the region of £123500k with Goodchilds of Brownhills (01543 526869).

It’s a newbuild property and was last sold in 2007 for £120k, but I can’t see it reaching the current asking price this time around. It’s a pretty good spec and very much good to go as a rental, but the garden is on the small side.

You can get away with the decor as it is, but you may want to get rid of the lime green in the one of the bedrooms. Just a thought since everything else is neutral.

As to be expected from a newbuild property it has all the mod cons including a modern fully fitted kitchen with oven/ hob, modern bathroom, double glazing, gas central heating and there are two allocated parking spaces.

The location is ideal for commuting. Not far from the Chester and Lichfield roads leading to Cannock, Walsall, Lichfield and Streetly. Many other amenities and services are all within a short distance away.

I appraise the pcm at a minimum of £625.00 and if the property sells at the current asking price, this makes a yield of 6.07%.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook: https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

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Today’s Buy To let Deal Yields 7.14%. 2 Bed Semi Detached House, Rochester Croft, Walsall, WS2.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

This is just a quick buy to let deal today. I spotted this one as it has been reduced by £10k to £100k, but unfortunately there are no internal photos, so this is all I have to go on.

A two bedroom Semi Detached house, Rochester Croft, Walsall, WS2. The asking price is for offers over £100k and currently marketed by Bairstow eves (01922 312791). At a rental of at least £595.00 the yield will be 7.14%.

If you want an idea as to what it may look like internally, check out another one of my buy to let deals on the same estate in Balmoral Way, here. But my advice as always is to book a viewing and go and have a look for yourself.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook: https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

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Thank you for your response. ✨

Would you buy a leasehold house in Walsall?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
Would you buy a leasehold house in Walsall?
Would you buy a leasehold house in Walsall?

Following on from last week’s article and my marathon break from the blog – I’ve had some interesting queries around freehold and leasehold property.  I have written about this subject in the past (click HERE for the previous article) however, the theme I’ve noticed amongst my blog reading friends requests is…’which one is the more beneficial?’

In total there are 23.36 million properties in England and Wales with 64% being of owner occupied tenure and 36% being rented (includes both the private and social landlords).

Over nine out of ten of those English and Welsh owner-occupied properties are a whole house or bungalow. Now, most people would assume they would be freehold – however, of those renting nearly half of rental properties, 44% to be precise, lived in other leasehold apartments and flats.

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