Find Below Market Value Property Deals In 2022

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How to find below market value property deals in 2022, and this is not a video about finding motivated sellers, so stay tuned.

In this video, I’ll be sharing my top property investing tips on how you can use potential value to uplift defunct commercial property.

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Welsh landlords get details on upcoming PRS shake-up

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The Welsh government has provided more details of its sweeping new renting reforms which aim to simplify the sector. 

Renting Homes means tenants – contract-holders – will soon have improved succession rights, setting out who has a right to continue to live in a property after the current tenant dies, and it will also be easier to add or remove people to the contract.

Electrical testing

Landlords will have a strengthened obligation to ensure that properties are fit for human habitation, including electrical safety testing and ensuring working smoke alarms and carbon monoxide detectors are fitted. Landlords will have to provide contract holders with a written copy of the contract, setting out the rights and responsibilities of both parties. For new rentals, the written statement must be issued within 14 days of occupation under the contract, while existing tenancy agreements will convert to the relevant occupation contract on the day of implementation. Landlords have a maximum of six months to issue a written statement of the converted occupation contract. 

Minimum security

Landlord break clauses will only be able to be incorporated into a fixed term occupation contract if it has a fixed term of two years or more; they won’t be able to exercise a break clause within the first 18 months of occupation. Meanwhile, the no fault notice period will remain at six months, meaning that all contract-holders will have a minimum 12 months of security at the start of their tenancy. If a landlord issues a no fault possession notice in response to a request for repair, the court can refuse to make a possession order and they won’t be able to issue a similar notice for another six months. Landlords will also need to be registered and licensed by Rent Smart Wales to give notice.

Climate Change Minister Julie James says these changes replace various, complex pieces of existing legislation and case law with one clear legal framework. She adds: “When in place, contract-holders in Wales will have greater security of tenure than in any other part of the UK.”

The Welsh Government has launched a national awareness campaign to tell landlords and tenants about the changes which take place on 15th July.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Welsh landlords get details on upcoming PRS shake-up | LandlordZONE.

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Landlords told to expect clampdown on unfair rent rises

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Landlords will not be able to include clauses to hike up rents just before tenancy agreements are due to expire, as part of a government pledge to address renter insecurity in its upcoming White Paper.

During a Commons debate, Housing Minister Eddie Hughes said while it was for landlords and tenants to agree the amount of rent that should be charged at the outset of a tenancy, it was keen to avoid any unintended negative consequences related to abolishing Section 21, including the use of a mechanism to force tenants out. However, Hughes would not be pushed on the timetable for introducing the Renters Reform Bill which was delayed last year. Labour’s Catherine West MP said there was a huge power imbalance between private landlords and their tenants, which was upheld by existing housing legislation, and urged the government to end Section 21 notices.

Sector consultation

Hughes confirmed the Bill would be published later this year but said it was important to consult widely with people from across the sector to ensure it got it right. “Hearing and listening to these views would not only ensure that the White Paper and future legislation actually address the challenges that exist, but help to create a system that works for everyone.”

He stressed he was committed to rebalancing the relationship between tenants and landlords to deliver a fairer, more secure and more desirable private rented sector. “We get it: we understand the challenges that exist in the sector, and we are open to dealing with them. That is why it is so important that we continue to drive through our reforms to ensure that we deliver on our aims.” Added Hughes: “We are aware that we need the support of the entire private rented sector if we are to achieve these goals.”

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Osbourne’s private landlords mortgage interest trap, but?

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Osbourne’s private landlords mortgage interest trap, but what if there is a way of changing this by releasing equity to purchase holiday or commercial property?

I have three private buy to let properties, that push me into the 40% tax band every year.

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Major works gone bad – Decisions?

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Following a couple of years of ‘major works’ costing so far £1m in a block – it has as expected by the leaseholders gone very badly wrong! Covid didn’t help, but the major issue was with the works to the 1930’s critical windows.

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Commercial Tenancies – What can be charged?

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I have a tenant who wants to retire from his business, and he has an employee who wants to purchase the business/goodwill and goods and take over the lease. It has been established the lease cannot be assigned, so I have agreed in principle that I will accept a new lease with the proposed new tenant.

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