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From 1st Jun , New Government Legislation The Regulations came into force on 1 June 2020 and form part of the Governments wider work to improve safety in all residential premises and particularly in the private rented sector. These new Regulations require landlords to have the electrical installations in their properties inspected and tested by a person who is qualified and competent, at least every 5 years. Landlords have to provide a copy of the electrical safety report to their tenants, and to their local authority if requested. Landlords of privately rented accommodation must: Ensure na ..read more

From 1st Jun , New Government Legislation The Regulations came into force on 1 June 2020 and form part of the Governments wider work to improve safety in all residential premises and particularly in the private rented sector. These new Regulations require landlords to have the electrical installations in their properties inspected and tested by a person who is qualified and competent, at least every 5 years. Landlords have to provide a copy of the electrical safety report to their tenants, and to their local authority if requested. Landlords of privately rented accommodation must: Ensure na ..read more

The mortgage works recently released a statistical snapshot of landlords in the East Midlands. It’s very positive to say the least. Read more below Rental Yield Landlords in the East Midlands currently achieve the highest average rental yield of any region, at 6.1%. Landlord’s Balance Sheet Another important statistic showed that only 4% of landlords in the East Midlands made a loss. 10% broke even and 57% were able to supplement their day job. A staggering 30% of landlords in the East Midlands were able to make property investment their full-time living. Financials We’ve alr ..read more

Rent guarantee insurance is a small but powerful product that has a range of benefits. At just £150 per annum, landlords can guarantee their rent will be paid. Read our five reasons on why rent guarantee is a must for any landlord. 1. Zero rent arrears Regardless of how great your tenants may appear on paper, a reference is a snapshot of that person’s situation at that given time. Life can hit a person at any time. Losing a job or ill health are among the common factors that cause financial difficulty for tenants. This then has a chain reaction which affects rent payments and before you know i ..read more

As local letting agents in Derby, we’ve decided to share our inside view on the Derby property market. Over the years, we’ve noticed a sharp increase in landlords attempting HMO properties. This article is written for landlords either with HMOs in Derby, or landlords thinking about investing in Derby HMOs. What is an HMO? First of all, let’s explain what an HMO is. An HMO, is an abbreviated term for Houses in Multiple Occupation. What this means is, a landlord is able to utilise a single property and let parts of it to multiple tenants. The aim of this is to maximise rental returns. See the ex ..read more

Property investment has undergone a whirlwind of changes over the recent years. With changes in tax laws for buy to let landlords and stamp duty increases, investors are being squeezed more now, than ever before. So what does this mean for Derby property investment? Although the property market is changing, the principles of property investment are still pretty much the same. Irrespective of a ‘crackdown’ on landlords, property location and purchase price are still the major factors which come to the forefront of property investment, whether you’re a landlord or looking to ‘flip’ property. In ..read more

House Price Index for Aug for East Midlands has increased 6.8% on the year and the average time taken to sell a property is 61 days. Plethora of Sold boards restricts choice as buyer demand remains strong. Newly marketed property prices at virtual standstill, up by 0.1% (+£312) as we enter quieter holiday season Fundamentals remain good mid year with robust demand, low interest rates and low unemployment: Sales agreed numbers remain strong year to date in 2017, almost identical to 2016 Prospective buyers in many parts of the country are seeing the highest proportion of properties marked ..read more

Sales still strong, but prices fall in June for first time since 2009 The number of sales agreed at this time of year is the second highest for ten years, only slightly lower than the high of May 2014 However, spring price momentum stalls as price of property coming to market drops by 0.4% (-£1,172), the first fall in June since 2009 at the height of the credit crunch, and the first fall this year Some markets struggling against headwinds, whilst others still have following wind despite uncertainty: Markets performing at different speeds and levels depending upon geography and sector  North ..read more

EPC Certifications will need to be reassessed. As the introduction of new energy efficiency regulations moves closer, landlords are being urged to check the Energy Performance Certificate (EPC) ratings of their rental properties. From April 1 2018, landlords will no longer be able to agree new lets or renew tenancies for properties with an EPC rating below an E     The legislation will be extended to all non-exempt domestic rental properties from April 1, 2020, including pre-existing tenancies. Estimates for the number of rental properties that are currently rated below an E- range from one i ..read more