GDPR & Walsall Landlords

GDPR and Walsall Landlords
GDPR and Walsall Landlords

Don’t know about you but I had heard so much about the new GDPR laws which came into force towards the end of May 2018 that I thought many of my Blog reading friends wouldn’t wish to hear another word on the matter!!  On the contrary…I’ve received several requests to clear matters up for you guys especially, around your personal responsibility when it came to staying on the right side of the law.

If you are letting a property in Walsall or indeed the UK for that matter, GDPR for landlords certainly affects you in a few key ways.  Before I address these major changes, let’s take a quick look at how we got to this point.

A brief history of UK data protection

In essence, data protection regulation has been enforced in the UK as a way to ensure that businesses and business owners do not abuse or misuse the data of their customers.  The purpose is to ensure it is not just used correctly but also stored safely.  In the UK, the first Data Protection Act was introduced in 1984.

It has been subsequently revised over the years and in 1993, a famous case was brought forward which saw PC Brown being prosecuted for mishandling data.  Though the ruling was eventually overturned, it was a landmark case and UK businesses seemed to start taking data protection more seriously.

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Today’s Buy To Let Deal, 2 Bed Town House, Wolfsbane Drive, Walsall, WS5 With Yields Of 5.28%.

A two bedroom town house on Wolfsbane Drive, Tamebridge, Walsall, WS5. The asking price is £125k with Purple Bricks (0121 721 9601).  The Full property details can be found here.

Located in the highly popular and very desirable Tamebridge estate, speaks volumes as to the location and therefore the potential for long term letting.

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The ‘Hodgepodge’ of Walsall Property Mini Markets

The ‘Hodgepodge_ of Walsall Property Mini Markets
The ‘Hodgepodge_ of Walsall Property Mini Markets

A Royal Wedding, Russia, Facebook, Brexit, Trump, House prices up, House prices down … the Press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting (and I appreciate the irony of this!) the property market. As an agent belonging to a national group of letting and estate agents, talking to my fellow property professionals from around the UK, the one thing that is immediately apparent is the UK does not have one property market. It is a hodgepodge patchwork (almost like a fly’s eye) of lots of small property markets all performing in different ways.

… And that made me think … is there just one Walsall Property Market or many?

I like to keep an eye on the property market in Walsall on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in Walsall, be that a buy-to-let property for a Walsall landlord or an owner occupier house for a home owner.  So, I thought, how could I scientifically split the Walsall housing market into segments, so I could see which part of the market was performing the best and/ or the worst.

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Today’s Buy To Let Deal Is A 3 Bed End Terraced House In Walsall WS3 Yielding 5.20%.

Technically an end terraced house, but looks like a semi, with three bedrooms and is beautifully presented. It is situated on Roebuck Road, Walsall, WS3. It is for sale at a current asking price of £149,950k. Reserve your viewing now by contacting Webbs Estate Agents Ltd on 01922 345939.

There are plethora of images, showingb off absolutely every angle of the property. It has everything you could want in a property including double glazing, gas central heating, modern fitted kitchen and shower room. Three double bedrooms, a conservatory, a lounge, dining room, conservatory, guest wc and a games room with a pool table, yes that’s right, a full sized pool table! Parking is off-road at the front of the house. Top it all off with a medium sized rear garden with patio area and plenty of room for outer buildings.

The location benefits from being within easy reach of all the major road networks, services and other amenities lending easy access to Walsall and Bloxwich town centres.

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Walsall Property Market has a ‘Rentirement’ problem.

Walsall Property Market has a ‘Rentirement_ problem.
Walsall Property Market has a ‘Rentirement_ problem.

I think I’ve created a new word! Yes, I said ‘rentirement’, not retirement. Let me define it: rentirement , Renters who are currently in their 50’s and 60’s who don’t own their own home but rent their home, privately, from a buy to let landlord.

In Walsall, there are just under 1416 rentirees and this number is growing steadily! How…?! Read on to find out…

The truth is that these Walsall people are prospectively soon to retire with little more than their state pension of £155.95 per week, probably with a small private pension of a couple of hundred pounds a month, meaning the average Walsall rentiree can expect to bring in about £200 per week once they retire at 67.

The ‘Rentirement’ Time Bomb…

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2 Bed Semi Yielding 5.49% Makes My Buy To Let Deal Of The Day

A beautifully pressented two bedroom semi detached house on a popular newbuild estate approx 1 mile from Walsall town centre, WS2. The property has an immaculate spec and is ready to go.

There are two double bedrooms, a modern fully fitted, a medium sized rear garden and off-road parking. It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall town centre.

This property is absolutely ideal for the rental market.

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Property in Walsall purchased for £1k!!

Property in Walsall purchased for £1k!!
Property in Walsall purchased for £1k!!

At a recent family gathering my sister and I were talking about various sibling stuff when the conversation shifted to how she ended up at the property she resides at now.  It became very interesting when she brought out a folder with a plethora of information and history left by the previous owners.

Walsall property owners may be interested in knowing the property built in 1947 was purchased for £1,000 with a mortgage of £700!!

The monthly mortgage payments were £4, 4S which I have no idea how much that translates to in today’s money…however…the thought of buying property for £1k and paying a £4-5 mortgage nowadays is one of dreams.

1947 Walsall Co-op Society Mortgage Agreement
1947 Walsall Co-op Society Mortgage Agreement
Mortgage payments schedule for Walsall property 1947
Mortgage payments schedule for Walsall property 1947

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