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

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 Property – Jargon Busting Terminology (PART 2)

Walsall Property - Jargon Busting Terminology - PART 2
Walsall Property – Jargon Busting Terminology – PART 2

I have had a massive response from my Blog reading friends since I posted last weeks article on Jargon Busting. The thought had crossed my mind to do something different this week however, my readers have convinced me otherwise. So without further ‘ado’ here is part 2 (part 1 can be found here – just in case you missed it…)!!

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Negative Equity – When the value of the mortgage which is outstanding on the property, is more than the market value of the property.

NHBC – National House Building Council. A warranty scheme for new properties providing cover against major structural defects for 10 years.

Non Resident Landlords – If you live overseas and are not a UK tax payer you can apply to receive rent without tax being deducted. For more information and details on how to apply for the Non Resident Landlords (NRL) Scheme – click HERE

 

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Office Copy Entries – If the property has a registered title, the vendor’s (seller) solicitor will need to apply for office copy entries from the Land Registry before a draft contract can be prepared.

Ombudsman – An independent professional body which is set up by law to help settle individual disputes between consumers and firms, for example, estate agents, solicitors and insurance companies. There are now three ombudsman schemes.

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Walsall Property – Jargon Busting Terminology (PART 1)

Walsall Property - Jargon Busting Terminology (PART 1)
Walsall Property – Jargon Busting Terminology (PART 1)

Something different this week for my blog reading friends…in recent months I have been asked on several occasions to explain certain terminology that has cropped up during Walsall property transactions or just in conversation.  For ease of reference I have gone through the list in alphabetical order; the overwhelming array of acronyms and specialist terminology in simple layperson terms.  To save the article from being endless pages I have split this into two parts with part 2 releasing soon – so watch this space!  If there is anything I may have missed please feel free to comment or get in touch.

The meaning behind the lingo…

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Abandonment – Abandonment is when a tenant leaves the property (usually without notifying the landlord or agent) before the tenancy has ended.  Very often this occurs when the tenant owes rent and the tenant may or may not leave possessions in the property.  Although the tenant is in the wrong for many reasons, they still have a legal tenancy and can return and demand to take up residence at any time, despite not paying rent.  Taking over an abandoned property is fraught with difficulties for the landlord and specialist advice should be sought.

Advance – A mortgage loan – an additional loan is referred to as a further advance.

Adverse Credit – Used to apply to a borrower or application that has past problems with bad credit, for instance frequent late payment, breached arrangement, bankruptcy or County Court Judgement.

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What if…the UK Population lived on One Street??!!

What if…the UK Population lived on One Street??!!
What if…the UK Population lived on One Street??!!

In my line of work I meet many property entrepreneurs…from budding enthusiasts…to seasoned developers.  Meetings whether face-to-face, by phone, Skpe or email lead on to many interesting conversations some of which, I write about.  I don’t profess to have all the answers but I like reading and learning about property.

This sometimes takes me away from our local Walsall property market, to conversations about our region and the national geographic area as a whole.  My expertise is in the local area where I ‘ply’ my trade to ‘eek’ out a living.  Anyway, I thought I would share something different with you this week, my blog reading friends, which I found really interesting and entertaining at the same time…hope you do too!

If the population of the UK were condensed into just a single street, more than a third of us would live in a semi-detached house worth £207,000.

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

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

 

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

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

 

 

5 Home Decor Ideas for Walsall Property you can steal

5 Home Decor Ideas for Walsall Property you can steal
5 Home Decor Ideas for Walsall Property you can steal

Last week I was asked to meet a potential client who was looking for some advice.  They said they found my blog interesting and wanted to pick my brain on how best to present their property which they were undecided what they should do with i.e. sell / rent or rent to own.  Now, regardless of which route you decide to take presenting the property in its best light is a minimum.  Afterall, you would never take a battered car to auction and ask for the highest of prices!

Hotel rooms can be a great source of inspiration when it comes to deciding on the perfect decor for your own home.  It’s also about showing off different aspects of possibilities which a buyer/ renter can quiet easily associate with.

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