Monthly Archives: March 2016

Things letting-only landlords in Bristol need to be aware of – keeping ahead of legislative changes – a handy reminder list

One of the ways on which the team at City Rental Services consistently help our landlords is by informing them of recent and rented property legislation changes they face.

advice for Bristol landlords on rented property legislation from City Rental Services

So, as we head into Spring, here’s a few of the important legislative changes affecting property landlords in Bristol.

Before the tenancy starts:

How to Rent – the latest version of this information booklet must be given to tenants before the tenancy starts.

Gas Certificate – a current gas safety certificate must be provided at the start of the Tenancy.

Smoke & Heat alarms – appropriate protection must be fitted in each rented property AND checked immediately prior to the commencement of the tenancy.

Section 21 6A – this has replaced 4 and 4A as of 01st October for Notices seeking possession.

Stamp Duty changes – these will be 3% from 01st April, 2016 on second home investment properties.

Right to Rent – the Tenant’s Passport needs to be presented to the agency to be checked or some form of acceptable ID produced.

Prescribed Information – there are three tenant deposit schemes, and the details of the deposit scheme being used must be given to the tenant including the relevant Prescribed Information for the scheme being used.

The legislative changes and the details which must be given by law to new tenants are equally important – if you’re unsure, please feel free to pop into our offices to discuss the legal requirements of property landlords in 2016.

If you’re looking for advice on rented property in Bristol, please call into 58 Gloucester Road to see us – as an independent letting agency in Bristol, we’re here to help.

Landlord confidence vs rented property demand in Bristol

This week at City Rental Services we’re focusing on a contrasting set of opinions and views within the Private Rental Sector in Bristol.

The sometimes opposing views are concerned with levels of landlord confidence versus the demand for rented properties in Bristol.

advice for letting-only landlords in Bristol from City Rental Services

Two useful articles were uncovered by the team at our Gloucester Road letting agency offices recently from the website of industry body the National Landlord Association.

The first article here discusses the current state of landlord confidence in the midst of ongoing legislation, tax changes, and the remnants of the financial crash on the UK letting sector.

According to the National Landlord Association, landlord confidence in the lettings sector is now lower than it was in 2007 when they surveyed members.

This is balanced by another article from the Association, highlighting that rental demand has overtaken social housing provision, according to the latest survey results from the annual English Housing Survey across the country.

There are now four million households in the UK under the Private Rental sector, compared to 3.7 million under the social housing bracket.

Check out the full article on rental demand here.

This juxtaposition within the lettings sector presents an unusual position for the average property landlord in Bristol to find themselves – opposing opinions meaning that confusion can be caused.

We think it’s much simpler demand remains consistently high in the Bristol area, and for the seasoned investor the changes being imposed by the Government, whilst painful, will in time be overcome.

However, being an investment landlord is not for the faint-hearted and it is a long-tem commitment providing well-maintained, fairly-priced properties for the ever-growing queue of prospective tenants.

If you’re looking for advice on rented property in Bristol, please call into 58 Gloucester Road to see us – as an independent letting agency in Bristol, we’re here to help.

 

 

What impact will Clause 24 have on property landlords in Bristol?

We like to use our rented property blog to inform and educate tenants and property landlords alike, and at City Rental Services this week we’re discussing a big potential issue for buy-to-let landlords – the Clause 24 update.

advice for Bristol property landlords from City Rental Services

We came across a useful update on the Clause 24 topic from an industry website – and it is worth reading the entire update here.

In essence, two property landlords are mounting a legal challenge to the entire process and policy of the proposed tax grab that could affect landlords across the country. The article covers the issues and updated action in depth.

The article highlights ways in which landlords in Bristol can support this legal challenge, including a dedicated Facebook Page and a newsletter sign-up.

You can review the full story here in full.

We recommend that all our landlords review this story and get involved.

If you’re looking for advice on rented property in Bristol, please call into 58 Gloucester Road to see us – as an independent letting agency in Bristol, we’re here to help.