General
Rent Smart Wales was launched this month by Housing Minister Lesley Griffiths ahead of the Housing (Wales) Act 2014 coming into effect this October.
The website is informative and easy to use and ready for Landlords to register their email addresses for updates but as yet it is not fully operational to register Landlords details and properties.
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We have had quite a few Landlords and contractors ask us recently what our plan is for when it becomes mandatory for all letting property to have smoke and carbon monoxide detectors installed in October.
The proposed legislation is only applicable for properties being rented in England only, so although we highly recommend getting them installed in all properties (even your own home!), it won't be a legal requirement to do it here in Wales.
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The emergancy budget this month saw Chancellor Osborne squeeze the Private Rented Sector even more, with changes to the way income from rents is taxed.
Whilst some are breathing a sigh of relief that at least there is still SOME tax relief on rental income rather than it being completely abolished, I think the majority of Landlords will still be with heavy heart this at the loss of tax relief on the interest element of their BTL mortgages, and the less publicised, 10% tax relief on wear and tear for furnished properties as of next year.
Overall, it's not good news on the cash flow front.
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July has been another busy month here at McCartan Letting with seven properties letting in the last 4 weeks, all on the first viewing!
So what did all these properties have in common to let so fast? .... We stuck by our 5 top tips for presenting your property for let!
We would love to hear from you if you are or know of someone who is struggling to find their ideal tenant. In the meantime, we have shared our top tips with you ...
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Looking to move in the next few weeks? Check out this lovely 4 bedroom family home close to the M4
https://www.mccartanlettings.co.uk/brochure/P1532
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