Swansea councillor Rob Stewart has said that he does not expect funding for the planned &500m revamp of Swansea City Centre to be an issue, despite Brexit.  He is also confident that it will not affect Swansea University’s role over the research element of the aquarium.

Stewart said, “None of the funding we [the council] are looking at is coming directly from Europe. The thing that could affect it is the level of uncertainty over Brexit but we don’t see a significant impact from that at present. There’s still a significant amount of interest in Swansea.”

The scope of the project is huge, and will take place on the site of the former St David’s shopping centre, the Civic Centre, and the land beside the LC2. It is still in the early stages of development, but includes a plan to build a café quarter, retail units for well-known stores, some of which are not currently in the UK, and a high rise building housing a hotel and flats that could become the tallest building in Wales.

Would you consider renting to a family? According to the latest research carried out by the National Landlords Association (NLA), the number of families choosing to rent has been on the increase, making them now the most common household type in the private rented sector. 

This information is reinforced by the newest English Housing Survey, which revealed that the proportion of private rented households with dependent children increased from 30% in 2004-5 to 37% in 2014-5. It would certainly be worth bearing this in mind when looking at properties to invest in.

Though there has been a deal of uncertainty surrounding the impact of Brexit, many landlords are still looking to invest in property, and with more people choosing to rent instead of buy, now might be the time to consider expanding your portfolio and taking advantage of the growing rental market.

Deciding What to Buy

The reason you want to invest in property and how much you are looking to spend will have an impact on what and where you buy. If you are looking to obtain a Buy to Let mortgage to fund the purchase, the lender will want to ensure that the rental income will cover a certain percentage over what the mortgage payments are.

For example: a landlord with a long term plan and a budget of &125,000. Here we would be looking for a property that would attract long term professional tenants, close to good transport links (such as M4) or places of work (Hospitals, Universities). They will probably be willing to compromise on the yield a bit more in favour of long term capital growth the property can provide. 

On the other hand: a landlord wanting to achieve a yield of 7% or more with a budget of &80,000. Here we would be looking for cheap and cheerful 2 bed terraced property around the city centre, such as Landor or Plasmarl, that would rent for about &475pcm to attract the younger market. 

Whether you are starting out as a landlord or looking to expand your portfolio, McCartan Lettings can offer free, expert advice. Call the team on 01792 430100, and they will be able to book an appointment for you, either in the office or over the phone, to discuss. 

Source: landlord.org.uk

The Housing (Wales) Act 2014 made it a legal requirement for all landlords and managing agents of all levels of experience to be registered, trained, and licenced through Rent Smart Wales in a move to push out rogue landlords and improve the standards of renting in Wales.

Ever an advocate of best practice, and already a member of a number of regulatory bodies including the Property Ombudsman and Client Money Protection Scheme, McCartan Lettings are one of the first letting agencies in Swansea to receive their Rent Smart licence.

A recent Freedom of Information request revealed that only 10% of Welsh landlords have signed up so far – not an especially inspiring statistic, given that there is only a little over two months left to apply before the compulsory registration deadline of 23^rd November 2016.

McCartan Lettings have been offering information and advice to the landlords we work with, whatever the level of service, to help ensure their compliance. With an eight week wait for applications to be issued, it is imperative that landlords don’t delay.

There are a number of dates left should you need to attend a training course. 

To book your course, please visit rentsmart.gov.wales/en/training/

Source: landlords.org.uk