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The right rent? 

Bosley Bites - Lettings Agents

The current market is showing fewer houses on the market than have been seen in the recent past.

house and keysThis is attributable firstly, to tenants who appear to be staying longer for each tenancy and secondly due to any houses that do become available being snapped up quickly.

As with any other basic economics where the dynamics of supply are out of equilibrium there is the potential, in this case, for rental levels to rise.

For more information and advice on letting or managing a property, please contact Sue Maaz FARLA in our  Shipston-on-Stour office orMichael Scott FARLA in our Stratford-upon-Avon office.

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Are the CO Detectors and Smoke Alarms in your property functioning?

Bosley Bites - Lettings Agents

Housing Minister, Brandon Lewis, recently announced new measures to protect tenants.

housing developmentRegulations for landlords in England will soon be brought into line with Building Regulations for new builds in the UK and will be required to install working smoke and carbon monoxide alarms in their properties.

Landlords will be required to install smoke alarms on every floor of the property and test them at the start of every tenancy.

Carbon monoxide alarms will be required in rooms perceived as high risk, such as those where solid fuel heating systems are installed.

It is expected that the new laws will come into effect from 10th October 2015.  Sheldon Bosley has a programme in place to check properties we manage but we are happy to advise you further.

For more information and advice on letting or managing a property, please contact Sue Maaz FARLA in our  Shipston-on-Stour office orMichael Scott FARLA in our Stratford-upon-Avon office.

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Letting for Investment

Bosley Bites - Lettings Agents

Rental receipts on residential property can often prove to be as little as 2-3% per annum, or less, of capital value after taking all costs into account, including repairs and insurance.

Property to Let
Becoming a New Landlord?

The buy-to-let market remains strong, however, having regard to the growth in value of the property.

Over the last 2 years this growth has been near to the order of 7% per annum making a total yield of approaching 10%, which, when comparing to bank interest rates looks appealing.

For more information and advice on letting or managing a property, please contact Sue Maaz FARLA in our Shipston-on-Stour office or Michael Scott FARLA in our Stratford-upon-Avon office.

 

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And Shipston gets in on the action too!

Sheldon Bosley Estate Agents in Shipston on Stour Warwickshire - Easter Egg-stravaganza.jpg

Sheldon Bosley Estate Agents in Shipston on Stour Warwickshire - Easter Egg-stravaganza.jpgAs part of our recent Easter celebrations, the Sheldon Bosley Residential Sales team in Shipston invited children from local children’s nursery,  Greenfields, to design their own Easter Egg.

There were some very whacky entries indeed – Tracy Emin would be very impressed!

Liz Smith & Philip Jones from the Shipston team are shown with some of the entries  including the winning designs from Betsan Powell, age 5 and James Barnes, age 2½.

A big thank you to all of the young artists who took part in the competition!

 

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New Energy Efficiency Rules for Rental Properties

EPC Graph for rental property

EPC Graph for rental propertyFor some seven years now it has been a requirement to provide an Energy Performance Certificate when letting a residential property.  The legislation relating to this can be found in the European Union Directive 2002/91/EC relating to the energy performance of buildings, as transposed into British law by the Housing Act 2004 and The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.  Since then, The Energy Act 2011 made provisions for the introduction of further Regulations aiming to improve the energy efficiency of residential rental properties.

These Regulations when passed, will mean that that landlords will not be able to unreasonably refuse a tenants’ request to undertake energy efficiency improvement works either at their cost or with the use of government or similar funding (due to come into force before April 2016).  Landlords will also be unable to let a property that has an EPC rating of F or below from around April 2018.

Landlords should therefore be starting to look at their housing stocks and undertake measures to improve those that fall below the E Rating.

At Sheldon Bosley we are able to assist in the planning and management of any works that are deemed necessary to improve those properties sufficiently to allow them to be let within the new guidelines.  If you require assistance please contact our lettings departments as follows:

Stratford upon Avon Office:

Michael Scott FARLA 01789 206760             mscott@sheldonbosley.co.uk

Shipston on Stour Office:

Sue Maaz FARLA 01608 665473                    smaaz@sheldonbosley.co.uk

www.sheldonbosley.co.uk

 

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Market Report – Residential Lettings

lettings agents in Shipston on Stour and Stratford on AvonIn recent years the growth in the private rented sector has been attributed to a lack of easily available private mortgages, however, evidence seems to show that we, as a nation, are changing our attitudes to the properties we live in.  Renting is now seen by many as a flexible and relatively hassle free way of living which suits modern lifestyles. It allows people to settle in a location where perhaps they couldn’t afford to buy but they enjoy living in. With a growing population of lifetime renters, increasing the amount of good quality, affordable rental accommodation is essential to meet this demand.

Nationally, it is being reported that demand is outstripping supply in the private rented accommodation sector which has had the effect of raising rent levels, although in more rural areas of the country such as Stratford upon Avon, rents tend to hit a ceiling due to the incomes of people working locally.

As a result of this, one area which is recovering ground after a disappointing period, is the ‘Buy-to-Let’ sector, with landlords now spoilt for choice with a record number of mortgage products to choose from.  Low mortgage rates have continued making investment attractive, although any landlords looking to invest in the ‘Buy-to-Let’ market should factor in interest rate rises into projected business plans to avoid any unwelcome surprises in the coming years.

By Michael Scott – Associate Partner leading the Residential Lettings Department at Stratford.