Walsall landlords could be fined £1,188,000!!

Walsall landlords could be fined £1,188,000!!
Walsall landlords could be fined £1,188,000!!

 

 

 

 

 

 

 

OMG (Oh My Gosh/ God for the old school peeps), said one of our tenants signing up last Saturday!!  This is when they saw the load of paperwork they had to sign.  Gone are the days when you could just ask for a word of mouth referral, collect a copy of a Tenancy Agreement from the local WH Smith and Bob’s your tenant (or is it??).

Amongst the hoard of documents I had were the Right to Rent Guide, copy of the Energy Performance Certificate, a current Gas Cert, an Electric Report, a Schedule of Conditions and Inventory, Prescribed Information and Terms & Conditions of the deposit scheme where the deposit was registered/ kept plus a few other bits…so the sharp intake of breath was understandable.

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Do Walsall Landlords ‘Regret’ voting for a Tory government…?!

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Do you still remember that inevitable night of Thursday, 7th May 2015 at 10.05pm….??  With the shocking news that the BBC Exit Polls suggested the Conservatives would be returning into government with a majority.  Well let’s face it…it wasn’t that shocking as a two-horsed race can only be won by one.  The middle classes in Parkhall and Aldridge exhaled a huge sigh of relief, as Walsall landlords, faced with rent controls from Red Ed Milliband and the Labour Party, now had something to cheer about as the Tories were always considered to be a political party that accepted the importance of the rental market, supported its development whist properly targeting the lawbreaker/ slum landlords renting out sub standard rental accommodation.

Since May though, George Osborne announced future rises in stamp duty for buy to let landlords and a change in the interest relief on buy to let mortgages,some people have started to question that loyalty.

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Just who are the renters in Walsall?

I recently went to a property auction and bumped into one of my landlords!  We got talking about the state of the Walsall property market and whether we, as a country, are turning more and more to the European style of property ownership, where it is the norm to rent as opposed to automatically buying once you have a good job etc.  So I got to work when I returned to my desk….

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Even though a recent report by the Halifax stated home-ownership remains a goal for 85% of twenty to forty five year-olds, there is information emerging that attitudes in the UK towards renting your own home as opposed to owning it have softened, showing more and more, that renting is being seen as a life style choice.  In fact it is recognised in learned circles that the cycle of renting is also repeated by the fact that people who grow up primarily in rented accommodation are themselves more likely to rent than buy.

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Why it makes sense to invest in property in Walsall…..

So I had an interesting conversation with a landlord recently from the south who was looking to invest in Birmingham.  Even though he has a property we manage for him in Shenstone he still calls it Birmingham so when I informed him about some mouth watering deals you could have in Walsall, he asked me where that was!   Anyway, we started to talk about the local property market in Walsall and I shared with him my thoughts and why, to me at least, it makes sense.

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The Land Registry have just released their latest set of figures for the Walsall Property Market, and it makes interesting reading – as average property values in Walsall rose by 0.2% in May.

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