News from our blog
Property continues to be a good investment and the number of people renting across the UK continues to increase, a third of UK’s millennials are set to still be renting into retirement.
At Carrick Johnson Lettings & Property Management, we specialise entirely on the letting market and have over 30 years of experience in recognising the benefits and possible pit falls of that ‘buy to let’ property you might have your eye on. Click image to read more on our free consultation..
The Government recently announced that both the ban on using bailiffs, and the longer notice periods for Section 21 and 8 will continue in the same form until the end of May.
This follows on from an announcement earlier in the week that court fees for online forms will increase from May of this year.
This extension is likely to be the final one, and landlords can expect to take the first steps toward normality in June. Click image to read more..
Since the 1st July 2020 it was mandatory for to have an Electrical Installation Condition Report (EICR)for their property: however from the 1st April 2021 ALL rented property must have a current EICR in place and failure to meet this rule could result in a fine of up to £30,000! Click on image to read more…
The Law and Fire SafetyLandlords have a legal obligation to ensure their rental properties are safe for tenants, and this extends to fire safety. The Housing Act 2004 The Housing act 2004 covers fire safety in rental homes, specifically fire escape routes and the...
Propertymark alongside other sector organisations is calling for the Chancellor to act now and agree on a targeted financial package to help private renters pay off COVID-19 rent arrears to help sustain existing tenancies and keep renters in their homes.
At least half a million private renters are in arrears due to the economic impact of COVID-19. The UK Government’s own research shows that ‘private renters report being hardest hit by the pandemic’.
Landlords no longer able to issue a blanket ban on pets
Responsible tenants with well-behaved pets will be able to secure leases more easily through the new Model Tenancy Agreement announced by the government today (28 January 2021).
The pros and cons..It can be extremely frustrating not being able to sell your home, you may well have thought about renting it out instead. Of course, doing so officially makes you a landlord and this can generate a big impact on your life. Selling or renting your...
You should heat your empty house. Winter temperatures can lead to problems like frozen pipes, flooding, and other water damage.
Some people might think that winter temperatures won’t cause problems, but even dropping below 40 degrees Fahrenheit can lead to damage.
If vacant, your house still needs to be kept reasonably warm.
Heat isn’t free, but it’s much cheaper to keep your empty house warm than to repair serious damage later.
It can be tempting to leave your vacant house to its own devices. After all, no one is there to complain about the cold.
We are regularly asked by potential Landlords whether or not Self-Management of their property(s) is a good idea?
In both cases our answer is ’not usually’ considering that we are talking about a substantial additional monthly income or in the longer term, the retirement & pension provisions of our clients.
For example, we know that an inexperienced response to a faulty thermostat in a boiler system or a water leak in an airing cupboard can either cost a Landlord £ 50 or hundreds of pounds.
Equally when we advise redecoration between or during lettings – it’s because they genuinely need doing if we are to meet rental expectations and to minimise vacant properties.
In short, Landlords don’t always have the robust administration systems, relationships with reputable tradesmen and experienced teams in place to carry out work in a timely manner or find and vet tenants…
In Teignbridge, Totnes and Torbay, it appears that despite the current Covid situation we met the economic and property storms better than many other parts of the country.
The number of “ reforms “ in taxation and the regulations that impact on Landlords – and Letting Agents – may have created more red tape, but on the whole they have not impacted negatively long term on rental income and capital growth; confirming my firmly held belief, that property remains one of, if not the best forms of investment.
There can be few in the industry, that are not aware that over the past five years. The Domestic Rental Sector has endured a number of regulations presenting numerous hurdles in the way of paperwork and processes.