Houses in Multiple Occupation -Legislation Day 8

We thought it would be useful to provide a quick summary of upcoming Government legislation  for HMO’s in 2018 which will affect landlords.

Houses in Multiple Occupation and Residential Property Licensing Reforms – date to be announced

It is proposed that any property with 5 or more occupiers and all those occupiers who are not related to one another will require a HMO licence.

 

 

 

 

 

Current legislation states – there would need to be 3 storeys in addition to the 5 or more occupiers to require a licence.

I think that a minimum room size will also be introduced, watch this space…..

If you are a landlord or thinking of becoming one for the first time and you want to read more articles like this about the Tamworth Property Market, together with regular postings on what I consider the best buy to let deals in Tamworth (out of the many of properties on the market, irrespective of which agent is selling it) then feel free to get in touch!

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Government Legistlation on Tamworth Landlords – Day 7

The  Deregulation Act 2015 – 1 October 2018  which is being debated in parliament could hugely improve the lives of many renters in England.

Latest news on the Homes  (Fitness for Human Habitation and Liability for Housing Standards) Bill 2017-19

The House of Commons voted for the Bill to be sent to a Public Bill Committee, they will scrutinise the Bill  – date to be announced.

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Trust me you would not want to buy your home off the internet

My close friends and family know that I dislike self service tills and the impersonal detachment of Internet shopping. I will be honest and admit that I hate it.

People say buying houses is stressful.  Believe me, when I say it’s nothing compared to online shopping.

Birthday gifts haven’t arrived on time, clothes which looked lovely on the internet model are not what I had hoped for – sack of spuds springs to mind!

A long awaited Christmas present for my mom was delivered by courier to my house and because no one was home they very kindly left it in a safe place….. the recycling bin which was emptied on the same day. 

So I’m sticking to high street shopping in the future.  Thank goodness we don’t buy houses online.  Can you imagine it!

According to a recent nationwide  study by Vivo Property Buyers, people find the task of selling their home more stressful than other life events like getting a divorce, death of a spouse or being made bankrupt. How stressful would it be to buy your next house directly off the internet?

Luckily the Internet doesn’t sell houses. Can you imagine logging onto the internet, finding a house that you want to purchase and adding it to your shopping cart. Checking the delivery address is correct. Deciding whether to pay by PayPal or credit card  and then  finally, excitedly, waiting for the courier to deliver it.

The internet doesn’t sell houses it sells viewings. Properties are advertised there with pictures to capture your interest and entice you to pick up the phone and book a viewing.  The real selling of a home is done in the property itself, person to person.

buy your house off internet
buy your house off internet

Buying any house is an emotional heartfelt experience.  Buying a home is special. You will feel an instant warmth and connection with the house. You will see your furniture in the house, your personal items dotted about and your loved ones curled up on the sofa. You need to see it. You need to explore it. You want to be able to see yourself in the house, no not a house –  a home and maybe your new home.

Would an agent’s photos online show you all you want to see. The best photos cannot possibly show you everything, would you be able get a clear picture  in your mind of the house from just a description.

What about those questions you have about your future home. An estate agent will have lots of useful information to share with you, especially if you are new to the area. We do.

We like to know about the houses we are selling.  We like to know about the area and the neighbours.  We want to tell you the history of the house, if you were buying a second hand car, you would want the full-service history, wouldn’t you?  Why should a house be different?

Selling houses is about people and customer service.  Online shopping is cold and impersonal. What happened to my moms present you may ask, I phoned and phoned and each time I hit a brick wall with an automated message. That was a stressful time!

So my advice, stick to the high street for things that are really important.

Have you had a similar experience which has made you reflect and think?  If so I would love to hear about them.  My name is Lorraine.  I am here to help you move.  Call me on 01827 425195.

Happy house hunting.

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What laws are changing which will affect Tamworth landlords? – Day 6

With more and more people moving into rented accommodation, the government has put into law better protection for tenants. The law also provides landlords greater clarification on their responsibilities.

Deregulation Act 2015 – 1 October 2018 – Day 6 

The provisions as outlined below that came into effect for England on 1 October 2015 will apply to all tenancies from 1 October 2018 and not just new tenancies or renewals:

  • Requirement to have given an EPC in order to serve section 21 notice
  • Requirement to have given a gas safety record in order to serve Section 21 notice (no fault)
  • Government introduced a new standard form that landlords must use when evicting a tenant under the ‘no fault’ (section 21) procedure (form 6A)
  • No longer need to expire section 21 “after last day of a period”
  • Section 21 cannot be served for first four months and can no longer be used from six months after service
  • Apportioned rent rules after service of section 21 notice
  • Retaliatory eviction provisions

Note that the providing of the How to Rent Guide is excluded from the list and is not required for tenancies before 1 October 2015 unless renewed after.

 

Confused ?

confused
confused

 

Call us at Hall and Thompson (01827 425195) – Tamworth  if you’d like some extra  information on letting your property. Thanks

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Government Legislation for Tamworth Landlords – Day 5

In December 2015 the process of agreeing a new set of legislation ensuring the rights of EU residents  was completed. This was approved in 2016 and becomes enforceable on the 25th May 2018.

So to make it clear, significant changes are being made to the Data Protection rules.

GDPR

Day 5 – General Data Protection Regulations (GDPR)

This new legislation is designed to enable individuals to better control their personal data.

The changes will require you to audit what information about people you hold, what you do with it and how long it is retained.

Any processing of data based upon consent will significantly change and any consents obtained will need to be granular and opt-in.

What is “Personal Data”?

“Personal data” is defined in both the Directive and the GDPR as any information relating to an person who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, online identifier or to one or more factors specific to the physical, physiological, genetic, economic, cultural or social identity of that person.

So in many cases online identifiers including IP address, cookies and so forth will now be regarded as personal data if they can be (or are capable of being) without undue effort linked back to the data subject.

To be clear there is no distinction between personal data about individuals in their private, public or work roles – the person is the person.

This new legislation is a minefield so I would recommend Landlords start to look at the data they hold.

More information can can be found on the Information Commissioners Office website

 https://ico.org.uk/for-organisations/guide-to-the-general-data-protection-regulation-gdpr/

 

Take a look at our other online resources, below.

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Don’t forget to visit the links below to view back dated deals and Tamworth Property News.  https://www.tamworthpropertyblog.co.uk

 

Amendment to Tamworth Landlords Regulations – Day 4

From 1st  or 6th April 2018 (conflicting dates  information) there is some good news for landlords.

gas man

Day 4 –  Gas Safety (installation and use)

A landlord will be able to have a gas safety record completed up to 2 months before the gas certificate date expires. Once completed the following record will not need to be from 12 months of the last check but instead the deadline date will remain for the following year. This allows landlords to get gas safety records completed up to two months earlier and not be penalised.

More information about this and the other changes being made can also be found on the HSE website.

Don’t Forget you can keep up to date with all our articles on the Tamworth property Market here. https://www.tamworthpropertyblog.co.uk

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Tamworth Landlords Legislation for 2018 – Day 3

The news is currently full of government legislation for renting out residential properties and raising standards.

Day 3  – Energy Performance Certificates 

From 1st April 2018 there are minimum energy level regulations (MEES), any building which is to be rented on a new tenancy or a renewal, must have a minimum energy rating of “E”.

Energy performance certificate
EPC

Furthermore from 1 April 2020, the minimum level “E” applies to all tenancies, including existing.

There are a number of exemptions available and if one of those exemptions apply, the property must be registered on the National PRS Exemptions Register.

All residential properties require an EPC certificate if they are being sold or let, if you need one completed, please get in touch.

Hall and Thompson are still conducting viewings and letting properties. Please phone 01827 425195 if you are looking for a property. Almost fully booked for today but still have availability for tomorrow.

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With Tamworth Annual Property Values 11.3% Higher, This is My 2018 Forecast

 

Looking at the newspapers between Christmas and New Year, it seemed that this year’s sport in the column inches was to predict the future of the British housing market. So to go along with that these are my thoughts on the Tamworth property market.

With the average 5-year fixed rate mortgage at 1.98% (down from 3.47% in 2014) and 2-year fixed rate at 1.47% (down from 2.37% in 2014), mortgage interest rates offered by lenders are at an all-time low (even with the slight increase on the Bank of England base rate a few months ago). Added to this, there has been a low unemployment rate of 3.5% in Tamworth, which has contributed to maintain a decent level demand for property in Tamworth in 2017 (interestingly – an impressive 1,229 Tamworth properties were sold in last 12 months), whilst finally, the number of properties for sale in the town has remained limited, thus providing support for Tamworth house prices, meaning …

Tamworth Property Values are 11.3% higher than a year ago

However, moving into 2018, there will be greater pressures on people’s incomes as inflation starts to eat into real wage packet growth, which will wield a snowballing strain on consumer confidence. Interestingly though, information from the website Rightmove suggested over a third of property it had on its books in October and November had their asking prices reduced, the highest percentage of asking price reductions in the same time frame, over five years. Still, a lot of that could have been house-sellers being overly optimistic with their initial pricing.

In terms of what will happen to Tamworth property values in the next 12 months, a lot will be contingent on the type of Brexit we have and the impact on the whole of the UK economy. A lot of people will talk about the Central London property market in the coming year, and if the banking and finance sectors are negatively affected with a poor Brexit deal, then the London market is likely to see more of an impact.

Nevertheless, the bottom line is Tamworth homeowners and Tamworth landlords should be aware of what happens in the rollercoaster housing market of Central London, but not panic if prices do drop suddenly there in 2018. Over the last 8 years, the Central London property market has been in a world of its own (Central London house prices have grown by 89.6% in those last 8 years, whilst in Tamworth, they have only risen by 35.5%). So we might see a heavy correction in the Capital, whilst more locally, something a little more subdued.

Hindsight is always better than foresight and predicting anything economic is all well and good when you know what is around the corner. At least we have the Brexit divorce settlement sorted and, as the UK economy and the UK housing market are intertwined, it all depends on how we deal as a Country with the Brexit issue. However, we have been through the global financial crisis reasonably intact … I am sure we can get through this together as well?

Oh, and house prices in Tamworth over the next 12 months? I believe they will end up between 0.4% lower and 1.2% higher, although it will probably be a bumpy ride to get to those sorts of figures.

If you would like to read more articles on my thoughts on the Tamworth property Market – please visit the Tamworth Property Market Blog

If you want to learn about the Tamworth Property Market , one source for information is the Tamworth Property Blog authored by yours truly at https://www.tamworthpropertyblog.co.uk

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Legislation the Government has planned for 2018 with Tamworth Landlords – day 2

You can make property management a lot easier if you know the legislation and adhere to it.  Today’s will ensure that if you need to serve a section 21 and have provided the “Right to Rent Guide” you have a better chance of having the S21 validated.

paperwork

Day 2  – How to Rent Guide

The Ministry of Housing, Communities & Local Government (MHCLG) has published a new “How to Rent guide”.

This booklet must be provided to assured shorthold tenants whose tenancy started or was renewed from 17 January 2018 onwards.

Thinking of Selling your property now or in the near future? Maybe you’re a landlord with property to Rent?

Contact us NOW for a FREE Valuation and find out what Hall and Thompson Estate Agents can do for you.

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Landlord Legislation the Government has planned for 2018

This year  2018 will be a busy year for legislation if you are a landlord.

So over the 12 days we will be giving you a daily outline of the upcoming legislation. Some of the legislation is in the pipeline and  may not come into force until next year, however it’s good to be aware.

no surcharge

Day 1 – Electronic payment charges

From 13 January 2018 a landlord or agent for that matter, can no longer add a surcharge when taking electronic payments  from your tenants i.e Paypal, credit, debit card or mobile phone payments.

 

Can’t find a Tamworth buy to let deal? Visit the Tamworth Property Blog at www.tamworthpropertyblog.co.uk where I am finding some gems.

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