Keeping you up to date and informed on the latest in the private rented sector
General
McCartan Lettings will be celebrating their 10 year anniversary next year and as the icing on the cake their Director Hannah McCartan has been nominated as a finalist in the prestigious Women in Business Awards.
The Professional Services category which Hannah has been shortlisted for recognises women who hold an occupation in the tertiary sector of the economy, requiring specialist training or those who hold a professional licence. They will have made a positive mark in their organisation and be well respected by clients.
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The Housing Act (Wales) 2014 is almost upon us and many Landlords are still unaware of what this new legislation will mean to how they manage their properties.
It is intended that the legislation will result in:
- improved standards of letting and management practice in the private rented sector
- more information on landlords available for tenant verification and for local authorities to assist with strategic intervention and dissemination of information
- raised awareness by landlords and agents of their respective rights and responsibilities
- in turn, raised awareness by tenants of their respective rights and responsibilities.
We are still eagerly awaiting the update for when Landlords and Agents can register on the new Rent Smart Wales website and as soon as we have this news we will be in touch with you all, but in the meantime for those who would like a re-cap please carry on reading.
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Property Industry Eye reports mortgage approvals by high street banks are up 11% on a yearly basis in July in the rush to beat the interest rate rise.
Ben Adams from CBK Wales gives us his view on the mortgage market and some interesting insights.
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A petition to ‘Reverse the planned tax relief restriction on individual landlords’ has reached the required 10,000 signatures to require a Government response. The petition follows the Summer Budget announcements which will see many buy to let landlords affected by reduced Mortgage Interest Relief (MIR) to the basic rate of 20%. If you haven’t signed the petition please consider doing so now.
The Residential Landlords Association has also been asked by the Treasury for alternative Tax Solutions, so if you have any ideas yourself, please follow the link to submit your thoughts.
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An opportunity has arisen to acquire a Marina apartment below market value.
We have a Landlord who is looking to sell and has asked us to let our other landlords and investors know.
This is a one bedroom first floor apartment in the Marina and comes fully furnished.
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On a lighter note, The Telegraph reported last month that Lego was a 'better investment than gold or shares'
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