Good news for the lettings market in March

Landlords urged to comply with electrical safety regulation or risk fines

 

What are the new electrical safety standards?

The new electrical safety standards require landlords to ensure the safety of all electrical wiring and fixed electrical installations are tested and signed off for each of their properties.

 

If the test highlights any investigative or corrective work, the landlord has 28 days to rectify the issue.

What exactly needs to be tested?

The fixed electrical parts of the property.

• Wiring
• Socket outlets
• Light fittings
• Fuse box
• Showers
• Extractor fans

What does not need to be tested?

The new regulations state that the tenant is responsible for portable electrical appliances and therefore tests on these items are not required.

 

However, it is recommended that the landlord carries out tests on the portable appliance items they provide for good practice.*

When will the new standards be enforced?

For existing tenancies, an electrical safety test will need to be carried out by 1st April 2021.

For new tenancies, all electrical installations must be tested before the tenancy begins.

Who can carry out the electrical safety test?

Only a qualified electrician can carry out the test. Guidance for choosing a competent tester:

- Electrical Safety Roundtable
- Registered Competent Person Electrical single mark and register

What do you need to do as a landlord once the test has been completed?

- Provide a copy of the electrical safety report to each tenant in their existing properties within 28 days of the inspection.

- If requested, provide the local authority with a copy within seven days.

- Supply a copy of the safety report carried out to the electrician conducting the next safety report.

- Provide a copy of the most recent report to any new tenants.

- If requested, provide a copy of the most recent report to any new prospective tenants within 28 days.

- Electrical installations must then be tested every five years.

What happens if landlords do not carry out corrective work highlighted by the report?

The local authority has the right to enter the property (with the tenant's permission) to rectify the problem and will notify the landlord of this action.

 

The local authority can then bill landlords for the cost of any work completed by them.

 

If any issues highlighted within the report are not rectified within 28 days, landlords will potentially be faced with a fine of up to £30,000.

Landlords have the right to appeal to the First-tier Tribunal against any decision of the local authority.

 

Due to current restrictions with the pandemic, many within the sector are concerned about ensuring their compliance in time with qualified help.

 

If you'd like to talk about this in more detail, visit our website or learn more about our services for landlords.

 

*GOV.UK

Rental growth picks up for the sixth month in a row

 

The rental market has picked up for a consecutive sixth month, suggest sources in the property sector, with reports showing a 4.3% increase in January – which is 0.2% higher than the 4.1% figure in December.*

The South East topped the rental growth market, seeing a 10% increase in rents over the last 12 months.

The lowest rental region in the UK was the North East, with an average rental cost of £539 per month, whilst the highest region being Greater London had an average rent of £1,556; an approximate difference of 288% for the country's capital.**

What are the main reasons for this rental market growth?

Cost is an obvious drive for rental growth as we continue to see house values rise.

 

From 2007 to 2017, the property market saw the average UK house rise in price by just shy of £40,000, which has had a knock-on effect to tenants.

Another possible factor could be that – in the last 12 months – more and more people are becoming tenants due to so called ‘risk factors’, for instance, lengthy 25-year mortgages and not wanting to worry about house depreciation over time.

 

This has been amplified by those who have decided to rent for longer, such as first-time buyers delaying their purchase plans.

Changes in society also play a massive part in the rental market, as households are embracing the ability to move out easier and not being committed to a given property.

How we can help

With a tried and tested method to support landlords, we can help you maximise your property investments and make smart choices with your portfolio.

Contact a member of our team now to explore your options.

 

 

*Letting Agent Today
**Statista

 

 

How many tenants have a good relationship with their landlord?

 

According to a recent survey, around 75% of tenants reported having a good relationship with their landlord and letting agent.

Many of those asked said a large part of the reason for having a connection with their landlord is down to having good communication between the involved parties (agreed by 59%).

 
From the landlord’s perspective, a massive 96% of landlords reported liking their tenants, with 53% saying they were ‘very happy’ with those renting the property and only 2% of all landlords reporting they were ‘definitely not’ happy with their tenants.

 

There are a range of scenarios that can lead to a rift between the landlord-tenant relationship, such as late rent payments, lack of care towards the property or failure to make necessary repairs and changes.

 

When it comes to the main causes of conflict for tenants, interestingly the research shows 75% highlighted a lack of communication from the landlord, or a slow response to repairs for non-managed properties (50%).

 

Now more than ever, managing your properties and your tenants has become increasingly more complex, as you're required to comply to new regulations whilst being restricted from having the same ease of access.

 

As leading lettings agents in your area, we take every measure to ensure your rental is successfully let, maintained and taken care of.

For years, we have worked with dedicated landlords and tenants, ensuring a good relationship between both sides and resolving any disputes or complications.

 

If you'd like to learn more about our proposition for landlords, or you're interested in seeing what we have to offer right now, go to our website.

 

 

How to decorate your rented home without making permanent changes

When decorating a rented property, there are many things you must bear in mind when making any dramatic changes, including getting the landlord’s permission.

However, there are plenty of ways to add personality to the property without risking your deposit, including:

 

Layering up

Creating layers in a room is a great way to allow a home to feel lived in.

 

By simply adding soft furnishings like cushions, blankets, curtains and rugs, you could make your rental feel a lot more like home.

 

If you’re unsure where to start, find a major furnishing that catches your eye – such as a nice rug – and build from there using similar fabrics and colours.

 

Investing in indoor plants

Houseplants are a great way to brighten up a room.

 

These are often inexpensive and require minimal to no effort.

 

Even if you lack a green thumb, there are plenty of options such as using artificial plants that will require far less work to maintain!

 

Letting loose on lighting

If your rooms are lacking in natural light, opting for a well-positioned lamp can flood the area with some much needed brightness.

 

Light fixtures can be practical and stylish, with many energy-saving options available, such as LEDs to brighten your home and reduce the impact on your wallet and energy consumption.

 

With many types of lighting available, it’s important you spend some time comparing to find the right “glow” for your home.

 

Hanging artwork without the need for nails

Having a home filled with personal photos on the walls is a great way to set the right atmosphere in your rental.

 

By using damage-free picture hanging strips, which can be found in most DIY stores, you can avoid losing your deposit due to holes in the paintwork.

Making the most out of your space

Most of us wish we had more space in our house to fill with our personal belongings, so why not create it by investing in multifunctional furniture for your rooms?

 

Not only are these practical but many options are also stylish, meaning you don’t have to compromise on the aesthetics of your home.

 

From the garden to the bedroom, there are many ways to save space and open up a room to have more purpose, such as creating a home office environment.

For any advice on the services we offer for landlords and tenants, get in touch today. 

 

 

WHY BUY A RENTAL PROPERTY IN WEST SUSSEX?

After a long pause for lockdown, the economy is slowly beginning to open up. According to Nationwide Building Society the average UK house price is £218,902, which is a 1.7% drop from the previous month.

 

Therefore, it is a great time to bag a bargain and invest in a buy-to-let property.

Click here to read WHY BUY A RENTAL PROPERTY IN WEST SUSSEX?.

How to maximise what you can see without physically viewing

 

It goes without saying that COVID-19 had a massive ripple effect on the world, and of course, the property market wasn’t left untouched by this.

 

We have seen radical changes within the sector, as agents like ourselves look at ways to adapt and evolve in order to meet new needs from our clients and colleagues.

 

One of the ways we've done that as an industry is to introduce new elements to our offering, substituting face-to-face meetings for online consultations that can be conducted safely.

 

Now, months after we've settled into this new way of doing things, a common question we get asked is ‘how can I maximise non-physical viewings?’

The benefits of non-physical viewings

A perk of non-physical viewings is being able to see the property without having to make unnecessary trips in-person to view a property, which is key in light of the current situation and restrictions.

 

Spending more time looking at online property listings, virtual tours or videos allows you to browse a larger number of homes than it may have been possible to physically view; particularly if you find it difficult to find time outside of work to arrange appointments.

 

So, this already means that you have the opportunity to see more properties in less time and refine the criteria you have by being exposed to more choice.

 

Another key benefit is that by starting your search online, you can quickly gain a feel for the homes that you want to see again, whilst identifying those that aren't suited to your needs.

 

In terms of maximising your time when talking to an agent screen-to-screen, we'd advise asking them about the natural flow of the rooms to help you envision the space more clearly, as well as the standard questions you'd otherwise ask on the seller's reasons for moving, whether there's a chain and the current conditions for the property's boiler and water pressure.

 

As we can appreciate that you'll want to see a select few properties in-person when you've narrowed down your search, there are tips for making in-person viewings right now, such as:

 

- Arranging the viewing by appointment, with only one household in the property to minimise contact

 

- Wearing a mask and using sanitising gel at the start and end of the viewing

 

- Asking any questions outside of the property so that you don't feel rushed to exit and miss anything important

How can we help?

Speak to a member of our dedicated team for any support you may need.