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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Today’s 3 Bed Semi Buy To Let Deal Yields 5.57%, Alderley Crescent, Walsall, WS3.

A three bedroom semi detached house on a prestigious and popular estate in the Coalpool area in Walsall. Since major redevelopment in the area, the area’s profile has now been raised substantially making it a popular choice for rental.

There are plenty of photos to show off the very attractive spec of this property. My personal experience with this estate is that the estate is very popular and highly sought after for rentals.

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.

The property is of modern design and has off-road parking as well as a garage. There is a fully fitted kitchen and has gas central heating and double glazing. Additionally there is a large lounge, two double bedrooms and a fair sized garden. the only blip on the horizon for me is the bathroom, which looks a little dated and could do with an upgrade. However, do not let that be a deal breaker, the property can definitely be let as is. But don’t take my word for it, go and take a look for yourself and book a viewing appointment.

The current asking price is £139950k and based on a rental of £650.00 pcm will return a yield of 5.57% though I do feel that the property is slightly overpriced.

Currently on offer with House Simple (0330 098 9870) click here for the full property details.

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

 

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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Do we have a ‘triple speed’ 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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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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Walsall Property Market Update – After the Holiday & Since the General Election…

Walsall – After the Holiday & Since the General Election
Walsall – After the Holiday & Since the General Election

Back on the Blog after the longest break I’ve had in two years and a record number of weddings attended!!  With schools opening up this week, I don’t know about you, but I’ll be glad to see the back end of the kids.  Whilst away I have received numerous email requests to discuss various topics of interest by my readers.  I picked the one requested most but I promise to try and get around addressing them all over the coming weeks.

Housing has always been the Cinderella issue at General Elections.  Policing, NHS, Education, Tax and Pensions etc., are always headline grabbing stuff and always seem to go to ‘the ball’. However, housing, which affects all our lives, always seems to get left behind and forgotten.

Nonetheless, the way the politicians act on housing can have a fundamental effect on the wellbeing of the UK plc and the nation as a whole.

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Walsall people move 19.32 miles when relocating…

How far do Walsall people move house?
How far do Walsall people move house?

 “When Walsall people move home how far do they actually go?” This was a fascinating question asked by one of my clients the other week. Readers of my blog will know I love a challenge, especially when it comes to talking about the Walsall Property Market!

 For the majority, the response is not very far. It is much more common for homeowners and tenants in Great Britain to move across town than to the next town or county. Until now, it’s been hard to say how many homeowners and tenants moved from (and to) relatively far away to buy or rent their new home. However, I carried out some research and requested some statistics from the Royal Mail. What came back was very interesting to say the least!

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