Mick Roberts makes front page of Nottingham Post on Selective Licensing

admin    Uncategorized     agents

Property118 member Mick Roberts has been fighting the introduction of punitive Selective Licensing rules introduced by Nottingham City Council.

Mick Roberts on BBC Radio Nottingham

Our Own Property118 member Mick Roberts appears on BBC Radio Nottingham’s Mark Dennison Show.

The post Mick Roberts makes front page of Nottingham Post on Selective Licensing appeared first on Property118.

View Full Article: Mick Roberts makes front page of Nottingham Post on Selective Licensing

Where is the best place to invest in student accommodation?

admin    Uncategorized     agents

Investing in Purpose-Built Student Accommodation (PBSA) is big business. The sector has become increasingly popular around the world thanks to the relatively low cost of entry and the high potential returns on offer.

Savills estimates that a total of 75,000 beds were traded in 2017, to a value of at least £5.3bn. This represents a 17% rise over the 2016 totals, and goes to show the health of the market. Furthermore, Savills believes that the Brexit situation has only heightened the appetite for PBSA, with more being invested after the 2016 referendum than before it. Given that barely a week goes by without the announcement of a new student development in one of the UK’s major cities, it is perhaps not surprising that most observers only see the continued growth of PBSA as an investment class.

All of which raises the question: where is the best location for a discerning investor to put their money? When it comes to PBSA the most important considerations are a growing student body, a university with a lack of its own accommodation, and a local area which has big investment plans likely to make the university more attractive.

With all of the above taken into consideration, there aren’t many places which fit the bill for PBSA investment better than Salford. The local university is expanding and teaching more students, it has accommodation for fewer than 10% of its students, and the area is the subject of an £800m investment masterplan.

Recently announced by the University of Salford and Salford City Council, the masterplan covers 240 acres around the university site and brings with it significant opportunities. One million sqft of educational space, six million sqft of commercial space targeted at industrial growth sectors and around two million sqft feet of parkland, green landscaped routes and cycleways are the main attractions for students in the area. Locals will also benefit, with 2,500 new residential homes and apartments planned for the area.

The industrial space, based around a new Industrial Collaboration Zone on Frederick Road North, is particularly interesting. It will be aimed at attracting businesses in the creative, digital, health and wellbeing, environment, sport and engineering sectors – not coincidentally the sectors within which the University of Salford excels and enjoys such a fine reputation.

The University already enjoys beneficial collaborative links with local businesses in similar sectors – for instance the campus at MediaCityUK – and further growth of its preferred sectors in the nearby area will provide even more opportunity for its students. It looks as if the Frederick Road Campus is set to become an impressive hub which will allow education, research and business to collaborate freely.

Mayor of Salford Paul Dennett agrees, saying of the scheme: “the City of Salford has attracted billions of pounds of private sector investment in the last decade and delivered nationally important regeneration projects that have brought new industries, new training and development opportunities and new jobs to the city.

“The combined assets of the city and the university around The Crescent present a huge opportunity for the continued growth of the city linking education with enterprise and industry and arts, culture, heritage and community.”

All of the above will make Salford an even more attractive higher education destination than it already is, leading to the growth of the student body. With the University of Salford already having nowhere near enough accommodation for its students, this is the perfect time to invest in PBSA in Salford.

X1 The Campus is an outstanding student accommodation investment opportunity. Located on the Frederick Road Campus, this development will be extremely popular with student residents looking to live only a few minutes’ walk from both their university and the new educational and commercial facilities set to be built as part of the new masterplan. Frederick Road is at the heart of Salford’s exciting future, and X1 The Campus is situated perfectly to take advantage of this.

Click here for more information and to enquire about this opportunity today – availability is limited so don’t miss out!

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Where is the best place to invest in student accommodation? | LandlordZONE.

View Full Article: Where is the best place to invest in student accommodation?

Tenant in custody!

admin    Uncategorized     agents

My tenant was arrested last week and is still in custody. She is 1 month into a new 6 month AST.

I understand she was involved in some kind of drug deal (on behalf of her boyfriend) –

The post Tenant in custody! appeared first on Property118.

View Full Article: Tenant in custody!

Tax rises are slowing housing investment

admin    Uncategorized     agents

Tax Rises:

An analysis released today by the Office for Budget Responsibility (OBR) confirms the impact of tax increases on choking off investment in rented housing.

In its Economic and Fiscal Outlook published today, the OBR warns of “subdued growth in residential investment.” The assessment comes following a string of tax hikes on private rented housing, including a stamp duty levy on the purchase of new homes to rent and restriction of mortgage interest relief to the basic rate of income tax.

Alan Ward, Chair of the Residential Landlords Association said:

“Today’s assessment by the OBR demonstrates the folly of taxing the supply of new homes to rent.

“It is more important than ever that we recognise the dynamic role the rental market can play in swiftly responding to the country’s ever changing housing needs. The Government should come forward with a package of pro-growth tax and planning policies to support private landlords who want to invest in the new housing the country needs if renters are to be able to find the accommodation they want.

“The build to rent sector is not delivering at the rate required and in the past private landlords have delivered three out of five of all new homes.”

The Residential Landlords Association: The home for landlords

The RLA represents the interests of landlords in the private rented sector across England and Wales.

The Office of Budget Responsibility has published its latest Economic and Fiscal Outlook. It can be accessed at: http://cdn.obr.uk/EFO-MaRch_2018.pdf   Page 67 notes:

“Real residential investment rose by 7.8 per cent in 2017, up from 7.6 per cent in 2016. In line with our forecasts for house prices and property transactions, we expect relatively subdued growth in residential investment over the forecast period. Housebuilding is expected to slow in the near term, reflecting subdued turnover in the housing market and modestly higher interest rates. Housebuilding is then expected to rise as housing market turnover picks up. Housing improvements are also expected to slow in the near term thanks to recent weakness in real wages, before picking up as real earnings growth picks up. Over the medium term, residential investment is expected to grow broadly in line with real GDP.”

The Chancellor has delivered his Spring Statement, a copy of which can be read at: https://www.gov.uk/government/speeches/spring-statement-2018-philip-hammonds-speech  In it he declared: “We are the champions of small businesses and the entrepreneur.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Tax rises are slowing housing investment | LandlordZONE.

View Full Article: Tax rises are slowing housing investment

Countdown to 1st April Minimum Energy Efficiency Standards (MEES) rules

admin    Uncategorized     agents

Have you done enough to avoid a £4,000 fine?

Some 6% of landlords risk financial penalties and being banned from renting if their properties fall beneath imminent energy efficiency rules.

From 1 April 2018, the new regulations have the potential to leave landlords unable to rent their properties and tenants with inflated energy bills.

The post Countdown to 1st April Minimum Energy Efficiency Standards (MEES) rules appeared first on Property118.

View Full Article: Countdown to 1st April Minimum Energy Efficiency Standards (MEES) rules

Setting-up a “bullet-proof” tenancy in 2018

admin    Uncategorized     agents

Assured Shorthold Tenancy:

Under new rules introduced over the last couple of years, setting up a “bullet-proof” AST in 2018 is a bigger challenge that in the past, but it need not be all that difficult if you know exactly what’s required.

Get it wrong though, and you could be permanently lumbered with a bad tenant if you have problems and in the unfortunate event that you need to evict; with something like 20,000 possession claims every year in the UK, the risk is not insignificant.

This article applies primarily to English law. Although tenancy laws are similar in other jurisdictions, there may be significant differences. Always seek professional advice before making or not making important decisions.

The key to avoiding this sort of trouble and being in a position to use Section 21 to enforce an efficient eviction, you need two things:

1. You have completed and served all the correct paperwork
2. You have proof that you did that.

Many landlords forget the crucial second point, because if a tenant denies having received something, your court application will be dismissed and you can say goodbye to your £325 court fee – back to square one with rent arrears racking up.

In order to retain the considerable benefits of using the “no-fault” Section 21 eviction process, Parliament has introduced several conditions that landlords / agents must comply with. These hurdles are designed to weed out rogue landlords and generally improve the quality of lettings for tenants.

A bullet proof tenancy is also of course reliant on following a rigorous tenancy selection process: www.tenantverify.co.uk 

These new rules apply to tenancies commencing on or after the 1^st October 2015, and will apply to all existing tenancies after 1^st October 2018.

Critical Documentation

These are the documents you must give your tenant if your new tenancy is to be bulletproof:

Documents can be served via email providing the tenant has agreed to accept them in that way (clause in the agreement), but the full document must be supplied, not just a link to a website.

It is preferable and recommended that items 1 to 5 be physically incorporated (attached to) the tenancy agreement so there can be no argument as to what has been supplied and received. A full copy of the whole should also be supplied to any guarantor involved.

Download a selection of useful free and paid-for documents, agreements, forms, letter templates and checklists here: https://www.landlordzone.co.uk/documents and here https://www.tenantverify.co.uk/useful-documents.html

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Setting-up a “bullet-proof” tenancy in 2018 | LandlordZONE.

View Full Article: Setting-up a “bullet-proof” tenancy in 2018

Do we landlords have to register with the Information Commissioner’s Office

admin    Uncategorized     agents

Do we landlords have to register with the Information Commissioner’s Office (ICO)?

I have read that all landlords need to by May 25th.

Is this true because it sure is not getting much attention?

Many thanks

Tobias

Editors Note

There is a self assessment test on the ICO site to ascertain if you need to register with them for Data Protection

Registration self-assessment >>

The post Do we landlords have to register with the Information Commissioner’s Office appeared first on Property118.

View Full Article: Do we landlords have to register with the Information Commissioner’s Office

3% SDLT Appeal for missed deadline?

admin    Uncategorized     agents

I have missed the 3 month deadline to reclaim the 3% extra SDLT paid.

My solicitor told me I had 3 years to sell my main home but never mention a deadline. He dealt with both cases.

Bought 2nd property on 6th September 2016.

The post 3% SDLT Appeal for missed deadline? appeared first on Property118.

View Full Article: 3% SDLT Appeal for missed deadline?

Will a new bathroom increase rental value?

admin    Uncategorized     agents

Increase Value:

If you want to increase the rental value of your property then there are several areas which are well worth focusing on. There are external changes to the building as well as internal changes you can make to help asking for higher rent easier, but one area of the property that let a lot of landlords down is the bathroom.

It’s a well-known fact that renovations, when done correctly, can help increase the value of a property. The same things that help increase a home’s value will also help improve rental value in a similar way.

Below, we’ve listed 5 things that you can do to your bathroom to have a positive impact on rental value.

1 – A complete new bathroom

Fitting a whole new bathroom is by far the most costly option of the 5, but it will increase your rental value by the most. If you’re renting for the long run then this will work out better for you over time.

With the rise in online retailers, the cost of a bathroom suite is at the lowest in a very long time so although it’s the most expensive option; it still doesn’t mean you need to spend a fortune.

2 – Add a shower bath

Everybody deserves a long hot soak in a bathtub from time to time and although lots of people love to bathe themselves, there’s lots of people who enjoy the practicality of a shower. It makes sense to have something for everybody and unlike a bath, which only really accommodates bathers, a shower bath has an large end to make showering much easier and enjoyable.

Shower baths are a lower cost renovation, but if you can’t spend too much then simply fitting an electric shower can certainly help renting your property more desirable.

3 – Add some tiles

Prospective tenants will not only appreciate a bathroom with new tiles, but they’ll also like the idea of having an easy to clean bathroom. Tiles are a middle-of-the-road cost but they’re easily maintained and can really transform the look of a bathroom.

Wall tiles are typically the most common renovation with tiles although floor tiles, especially patterned tiles and geometric patterns, can be a real wow factor. Tiling both walls and floors is ideal for getting the best results although landlord on a budget will still reap the rewards of just tiling one of the surfaces.

4 – Underfloor heating

Having a warm bathroom is important for relaxing and comfort. The beauty of underfloor heating is that it’s out of sight and has an equal distribution of heat. The bit that everybody loves about underfloor heating his the fact that the floor is toasty warm. It means you can step out of the shower or bath on a cold morning and the floor won’t have you dancing around whilst trying to dry off.

Underfloor heating can also reduce your heating bills which may also help increase rent values. An energy efficient property is much more desirable and this can make the difference.

5 – Bathroom accessories

A bathroom without accessories can be a messy place in the wrong hands. Having somewhere to store your essentials such as a tumbler for toothpaste and soap dish for soap can really make a difference to a potential tenant. They’ll be looking at the room and imagining where their things will go and if they don’t see anything the room will feel like it’s lacking. Why would you pay extra for less?

Bathroom accessories can be a really cheap way of adding value and if this is the only thing you can do then I’d definitely advise for it.

There’s a wide range of improvements that you can make to a bathroom to help increase a properties rental value. Some of the above options can be combined for maximum effect so don’t be afraid to go all the way when planning a new bathroom.

One last thing to keep in mind is colour. The colours used in your bathroom should be neutral as to appeal to as wide an audience as possible. Using neutral colours will also keep the bathroom looking great for longer. Some colours come into fashion only for a few years so following some fashions may leave you with a quickly outdated bathroom which isn’t advisable long term.

Written by Alan Gregory, Victorian Plumbing

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Will a new bathroom increase rental value? | LandlordZONE.

View Full Article: Will a new bathroom increase rental value?

FOI request on sale of Mortgage Express BTL loans

admin    Uncategorized     agents

Re: Freedom of Information request

Under the Freedom of Information act I would be most grateful if you could send information regarding the sale of Mortgage Express Buy to Let loans via UKAR to Rosinca Mortgage and Jasper mortgages.

The post FOI request on sale of Mortgage Express BTL loans appeared first on Property118.

View Full Article: FOI request on sale of Mortgage Express BTL loans