Ask Us How Upcoming Changes To Legislation May Affect You
Whether you’re an experienced landlord or considering buying-to-let for the first time, there’s a wealth of regulations and property legislation for you to know about. What’s more, legislation is often updated and new laws are introduced – and you’re expected to keep up with it all so that everything is above board and your assets are protected.
There is much to consider but we are always happy to help and offer our expert advice and service. Here are several of the key legislation changes you need to look out for in the coming year…
1. Changes to the Energy Price Guarantee
As the cost of energy rose during 2022, the Energy Price Guarantee helped households save around £900 on their bills, reducing the average yearly bill to about £2,500. From April 2023, this guarantee is changing, and there will be a slight decrease in support available. The new terms should still save households around £500, cutting the average yearly bill to £3000. How this affects landlords is explained on the government’s website.
2. Changes to required EPC ratings of commercial properties
As of April 2023, all commercial properties must have a minimum ‘E’ rating – and there are further plans for this to rise to ‘C’ in April 2027 and ‘B’ in April 2030.
3. Renters Reform Bill
The government white paper, ‘A Fairer Private Rented Sector’, was published in June 2022. Proposed changes include:
· Ending no-fault evictions
· A digital property portal for private landlords
· Better dispute resolution through an ombudsman scheme
· Applying the ‘Decent Homes Standard’ from the social rented sector to the private sector
The Renters Reform Bill is to be introduced before spring 2023, but it takes around a year for a Bill to become law, so there’s unlikely to be any legislation changes before 2024. This does mean, however, that landlords have time to influence what the final Bill looks like, so it’s one to keep a close eye on.
We know many of you have property questions you’d like answered – and we’re encouraging you to “Ask away…”
Whether you’re looking to release capital, reinvest, refinance your portfolio or simply want to discuss your options for the best yields and locations, we want you to “Ask away”. Whatever your question might be – whether it’s a quick query or a more complicated one – we’re here to offer help and reassurance.
P.S. We can answer questions such as:
· Ask us what the ideal property tenure is and why it matters
· Ask us how to get your portfolio valued
· Ask us how how to ensure your rentals are at maximum profitability
· Ask us what locations can obtain the best yield
· Ask us how to efficiently expand your property portfolio
Tailored services for landlords
We offer a flexible approach to letting and property management, allowing you to choose exactly how hands-on you want to be as a landlord. We can simply find high-quality committed tenants, or we can provide a full management service, giving you peace of mind that your investment is in the safest hands. Our experienced lettings team are up-to-date with the latest regulations and legislation concerning the rental sector, so you can be sure you’re receiving expert guidance.
How we market your rental property
· 360° Virtual Tour that lets potential tenants do an online ‘walk-through’ of your property
· Professional photography
· EPC charts
· Advertising your property on Rightmove, OnTheMarket and social media
How to get started
Any property questions you have, no matter how big or small – simply ask away! Let’s discuss your options to ensure you continue moving in the right direction.