Walsall Letting Agents

Are Walsall landlords denying our Walsall youngsters?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Are Walsall landlords denying our Walsall youngsters?
Are Walsall landlords denying our Walsall youngsters?

I received a very interesting letter the other day from a Walsall resident. He affirmed he was a Walsall homeowner, retired and mortgage free. In the letter he stated how unaffordable Walsall’s rising property prices were and that he worried how the younger generation of Walsall could ever afford to buy? He went on to ask if it was right for landlords to exploit the inability of others to buy property and if, by purchasing a buy to let property, Walsall landlords are denying the younger generation the ability to, in fact, buy their own home?

Whilst doing my research for my many blog posts on the Walsall Property Market, I know that a third of 25 to 30 year olds still live at home. It’s not surprising then that people are kicking out against buy to let landlords; as they are the gluttonous bad people who are cashing in on a social woe. In fact, most people believe the high increases in Walsall’s (and the rest of the UK’s) house prices are the very reason owning a home is outside the grasp of these younger would-be property owners.

However, the numbers tell a different story…

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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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Are Walsall landlords stifling the Walsall property market…?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
Are Walsall landlords stifling the Walsall property market…?
Are Walsall landlords stifling the Walsall property market…?

Following the publication of a recent blog article about ‘Generation Rent’ a local homeowner of Walsall contacted me.   He said that he felt that the plight of our Walsall youngsters (first time buyers), was that like of a novice football player trying to bend it like Beckham!  You’re in a minus game playing Beckham at his own game right?  Play him a 100 times and you’re bound to lose 100 times!!  There is no doubt that buy to let landlords have played a major role in driving up property values in Walsall (and the UK) and from that made housing a lot less affordable for the 20-30 somethings of Walsall.

Let us look at how affordable Walsall is.  The best way to measure affordability is to measure Walsall property prices against Walsall average salary (the higher the ratio, the less affordable properties are).  Looking at the table below, for example in 2014, the average value of a Walsall property was 5.95 times higher than the average annual wage in Walsall.

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The effects of a ‘Hard Brexit’ on the Walsall Property Market…

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , ,
The effects of a ‘Hard Brexit’ on the Walsall Property Market…
The effects of a ‘Hard Brexit’ on the Walsall Property Market…

Through the many conversations I have with my clients on a daily basis I find the Brexit effect is a real and worrying one for many.  This is usually the case when there is uncertainty in the air and as many questions remain unanswered…we can but attempt to make educated guesses on the how, what, when and if’s of the Brexit effect on the Walsall Property Market.  I can only comment on matters as they unravel and we learn together what the strategies of this exit may be as and when these are revealed to us.

Recently I feel Theresa May has wasted an opportunity to give peace of mind to our EU co-workers by not confirming their rights as EU citizens working and living in Walsall (and the rest of the UK). No.10 Downing Street’s point of view is that in promising the rights of EU citizens in the UK, it will postpone the same guarantee to the 1.5 million UK citizens living in the other nations of the EU.

For a moment let’s put aside the politics…the simple fact is now Article 50 has been set in motion, we have two years to make a deal with the EU, otherwise it will be a ‘hard Brexit’.  Now you might not think a hard Brexit will affect you in your home in Walsall…but nothing could be further from the truth.

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Walsall Property – 5 Helpful Tips on Getting the Best Out of a Refurbishment

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Walsall Property – 5 Helpful Tips on Getting the Best Out of a Refurbishment
Walsall Property – 5 Helpful Tips on Getting the Best Out of a Refurbishment

Not everything you do to a property adds a premium to the price.  A question I get asked time and time again from landlords, who think by maintaining a property where they replaced a boiler or a tenant, who through choice, changed the flooring and some minor decorative work feel they have done. So what does constitute value and how does this work with Walsall property?

Below are my thoughts and examples of 5 improvements that will add the most value to your next Walsall refurbishment (weigh up the costs against the extra you will achieve in rent though, each project is different):

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Walsall’s Train Stations are used by 1.2m People a Year!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , ,
Walsall’s Train Stations are used by 1.2m People a Year!
Walsall’s Train Stations are used by 1.2m People a Year!

My blog reading friends may or may not be aware that I source and manage properties for a living.  I have my own portfolio therefore, I am a landlord as well.  Perhaps at times I haven’t made this obvious which was highlighted by a landlord who recently asked me the question.. “so what is it that you do apart from writing this blog”..?!  I have many clients locally, nationally and internationally who use my services to source and manage property meeting their criteria.

Of the recent conversations I have been having with people looking to enter the Walsall property market, I’ve noticed a common thread in my response.  It might surprise you to learn that our small and quaint town of Walsall is serviced by 3 train stations (Bescot, Tamebridge Parkway and Walsall).  This makes it an ideal location for commuters to our two neighbouring cities – Birmingham and Wolverhampton.  I mean, there is a reason why one of the most popular property programmes on television is called Location, Location, Location!

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Rents in Walsall Will Increase More Than Walsall Property Prices By 21%!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
Rents in Walsall Will Increase More Than Walsall Property Prices In Next 5 Years!
Rents in Walsall Will Increase More Than Walsall Property Prices In Next 5 Years!

Last weekend I had a meeting with a professional landlord who has an extensive portfolio of properties.  By his own admission, he confirmed that he has somewhat neglected the portfolio which he has kind of left to look after itself.  In recent years his focus was his family-run business so the portfolio wasn’t a priority.  He wanted to change this attitude and become more aggressive with his Walsall property ambitions by expanding on a healthy and varied portfolio.

During our meeting he asked me where in Walsall and what type of property he should purchase to create the best capital growth and great rental yields.  This got me thinking about our property market in Walsall and what has actually happened to rents and property prices..and more importantly for him..projections for the future.

Some fascinating changes are in the air in the Walsall property market.  Just to give you a flavour of the full article below, upon conclusion of my research I found that the rent private tenants pay will rise faster than property prices over the next five years. Creating further issues to Walsall’s growing multitude of renters.  In fact, my examination of statistical forecasts found that –

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Walsall Property Owners and Selling Values..

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , ,
Walsall Property Owners and Selling Values..
Walsall Property Owners and Selling Values..

A local property investor/ landlord contacted me last week with a million questions which I really enjoy.  Those of you that know me personally know I love to talk about Walsall property to anyone who would lend me an ear (at this point I wish I had some emoticons to add a couple of smiley faces)! Now, our investor was a shrewd individual it seemed and informed me how he had several properties achieving, what seems like from the outset, some great rental values..which got me thinking..what is actually happening with current property values and rents over the past year? What is the route to getting more ‘bang for your buck’?

The new year started with some positive interest in the Walsall property market. Taking a snap shot of the Walsall property market for the first quarter of 2017, the picture suggests some interesting trends when it comes to the asking prices for property and what prices properties are actually selling for.  This is really important to understand as everything connected to these two factors has a ripple effect which ultimately affects your final numbers whether you decide to flip (re-sell) or rent it out.

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Walsall Property Values Increase by £15.84 a Day!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
Walsall Property Values Increase by £15.84 a Day!
Walsall Property Values Increase by £15.84 a Day!

Investing in Walsall buy to let property is a little different to investing in the stock market and arguably more rewarding than the latter. Or you could of course pledge your hard-earned cash in the Building Society. When you invest your money in the Building Society, this is considered by many as the safe option but the returns you can achieve are, in my opinion, miserably low (the best 2-year bond rate from Nationwide is a whopping 0.75% a year!). The Stock Market can give good returns, but unless you are a city whizz kid or on the phone every day to your Stockbroker it is difficult to make positive returns. The masses usually invest in stock market funds, making the investment quite hands off and one always has the feeling of not being in control.

However, with buy to let, things can be more hands on. One of the things many landlords like is the physical nature of property – the fact that you can touch the bricks and mortar. It is exactly this which attracts many of Walsall’s landlords – they feel they are making their own decisions rather than assigning them to city whizz kids in Canary Wharf playing Russian roulette with their savings.

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Humongous Change of Walsall’s Shared Households!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Humongous Change of Walsall’s Shared Households!!
Humongous Change of Walsall’s Shared Households!!

A day in the life of a Property Manager is never dull. One of the joys of my profession is meeting interesting people every day. If I had to choose who I enjoying meeting the most (landlords, tenants, contractors, developers, solicitors, other fellow professionals) then, I would have to say…landlords! The cogs of a landlord have always intrigued me and they can come up with some of the most interesting topics/ thoughts/ questions ever!!

The other day I met with a Walsall landlord who told me that he had been chatting with an architect friend of his who informed him that back in the mid 2000’s, the developments he was asked to draw up were a balance of one and two bed properties, compared to today where the majority of the buildings he is designing are more towards two and sometimes three bedrooms. Now of course, this was all subjective but it made me think if there was any truth in that and how this affected the Walsall property market?

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