Landlord Redress Scheme: What You Need To Know

Landlord redress scheme announced

James Brokenshire, Communities Secretary, has announced this week that landlords will soon have to legally join a landlord redress scheme. There will be fines of up to £50,000 if they fail to comply.

Currently there are no legal requirements whatsoever for Landlords to join a complaints body, although letting agents who manage properties are already required to do so by law.

The new system will be called the ‘Housing Complaints Resolution Service‘, making it easier for tenants to claim compensation.

The Communities Secretary explained “the proposals I have announced will help ensure all residents are able to access help when they need it, so disputes can be resolved faster, and people can get compensation where it’s owed”.

How will this affect Landlords?

This is yet another blow to Nottingham Landlords who have had a tough few months. The majority have already had to comply with the Selective Licensing scheme which was thought to be sufficient in helping tenants live in suitable accommodation, without complaints.

Landlords who already have their properties managed through a letting agent should be exempt from this, although this is yet to be confirmed by the government.

When will this landlord redress scheme come into force?

There has been no official date for the new landlord redress scheme as of yet. We will keep you updated with new information as we receive it. It is not expected to be for at least another twelve months before they introduce such a scheme.

What will the costs be for the redress scheme?

The scheme has only been announced. This means no costs have been provided as of yet.

Is this the final straw for you as a private Landlord?

If you need advice when complying with all current and future Landlord legislation then talk to us today. You can call 0115 924 3304 or use the contact form below.

You can contact me for marketing purposes via:

EmailTelephone

Buy to let fixed mortgages cheaper than a year ago

Buy to let mortgages now cheaper than last year

It has been revealed that most buy to let fixed mortgages are now cheaper than a year ago. Some are down by as much as £29 per month on a typical mortgage of £150,000.

Landlords who have chosen a 5 year fixed deal have seen the biggest drop in costs. This is pleasing for most Landlords as 5 year deals have slowly been gaining popularity over the last few years.

Most Landlords choose to go for a mortgage deal with 50, 60 or 75 per cent of the property value. Savings were calculated as £8 per month at 50%, £29 at 60% and £21 at 75%.

Those Landlords who were looking at a 2 year fixed mortgage deal didn’t make as much of a saving. However, those on a mortgage deal at 65 per cent of the property value made an average saving of £11 per month.

Landlords encouraged to act now

Landlords are being encouraged to act now if they are looking to remortgage soon. Interest rates could change with Brexit so serious thought should be given, particularly from those looking at 5 year buy to let deals.

Nottingham buy to let market

In recent months, Nottingham has been rated as the best city for buy to let investments. This is reportedly down to the large student population where particular areas in NG1 and NG7 can produce very high gross yields. Rental values have also risen dramatically across the city in the last twelve months – Great news for Landlords.

Want to check on your buy to let mortgage deal?

Do you want to check how much you could potentially save on your buy to let mortgage deal? Perhaps you are coming up to the end of your term and need to compare the mortgage market? Talk to our mortgage broker today by calling 0115 924 3304 or by using the form below.

You can also see what we do for Landlords here.

You can contact me for marketing purposes via:

EmailTelephone

Best Buy To Let City: Nottingham Hits Top Spot

Best Buy To Let City is Nottingham

Totally Money have commissioned a survey across 580,000 properties in Britain. Their findings have produced a report which highlight the best cities across the country to purchase a buy to let investment property.

How did Nottingham rank for property investment?

Two Nottingham postcodes hit the top 5 spots for buy to let property investment, making it the best buy to let city in the UK. NG1 was hailed as the number one postcode in the UK, with an average rental yield of 11.99%. The NG7 postcode also made it to number 5 with an average yield of 8.89%.

Liverpool ranked in second place with the L7 postcode as well as in fourth place with L1. In third place was Cleveland with the TS1 postcode.

Why did Nottingham rank highly?

Totally Money have calculated that the cities with the highest rental yields are usually large university cities. Nottingham of course has two universities, Nottingham Trent University and the University of Nottingham. Over 37,000 people study at these institutions which makes it one of the largest student populations in the UK. Around 1 in 8 people living in Nottingham are students.

Our take on this investment news

Whilst this sounds like great news, we would always advise buy to let investors to be cautious when purchasing new property. Nottingham rental yields have been some of the best in the UK for a long time but not all will produce a high 11.99% yield. When looking to buy, why not talk to our sales or investment teams on 0115 924 3304? They will be able to advise on potential rental values and great areas of Nottingham to buy in. You can also use the form below to ask any questions.

New and existing Nottingham Landlords

Are you getting the highest rental values for your properties? Walton & Allen Letting Agents Nottingham will conduct a rental review for you free of charge by calling 0115 9243304. Alternatively you can use the form below to receive more information.

Get in touch with our letting agents

Use this form to ask any questions about the best buy to let city in the UK, or to talk to us about our sales and lettings services.

You can contact me for marketing purposes via:

EmailTelephone

Where do other cities rank for investment?

The below chart shows where other cities rank in the UK for buy to let investments.

#PostcodePostcode TownProperties for RentAverage Monthly Rental ValueProperties for SaleAverage Asking PriceYield
1NG1Nottingham44£1,525169£152,63111.99%
2L7Liverpool149£94179£115,3989.79%
3TS1Cleveland185£54396£68,9259.45%
4L1Liverpool116923404£118,7549.33%
5NG7Nottingham240£1,187168£160,2698.89%
6NE6North East540£834216£118,7898.43%
7NE1North East357£1,095157£161,0358.16%
8S2Sheffield238£853117£125,4838.16%
9SS1Southend-on-Sea100£2,736207£409,2338.02%
10BD1Bradford153£439130£65,8898.00%

Nottingham Rental prices have had biggest increase in 2 years

Nottingham rental prices increase

Rental prices have had their biggest increase in 28 months according to a new report through Landlord Today. This has been lead by growth within Nottingham and the East Midlands.

The average rental price increased by 0.13% in August which was the biggest month on month rise since April 2016. The East Midlands though has seen an average growth of 0.32%. This is the highest rise for an English region in over 40 months!

The average property rental price across the UK, excluding London, is now £767. If London is included, this jumps to an average of £1,209.

Large increases in rent across the East Midlands could be partly down to the new Selective Licensing scheme in Nottingham. Nottingham City Council were initially confident rental prices would not increase when the scheme began in August 2018.

Walton & Allen Letting Agents are increasing rental values

At Walton & Allen Letting Agents we are increasing rents for our Landlord clients at every opportunity. As a result, the average increase is around £25 per month, year on year.

Despite the increase in rental values, tenants are not negotiating on prices as demand is very high for rental properties.

Find out if you are getting the maximum rent for your investment property. Call 0115 924 3304 and speak to Ricky, or fill in the form below to receive a call back.

Your Name (required)

Your Email (required)

Your Message

You can contact me for marketing purposes via:

Email

Nottingham property prices also growing rapidly

Along with the steep growth in rental prices, Nottingham property prices have also seen the biggest increase throughout the whole of the county. Property prices have risen by 7.5% in the last 12 months which puts Nottingham top of the ranking tables for property price growth. You can Find out more here.

We’ve been shortlisted as the Best Letting Agent across the UK

We have been shortlisted as best letting Agent

best letting agents nottingham

Walton & Allen letting agents in Nottingham are proud to announce they have been shortlisted as the best letting agent with a single branch across the UK. We have been picked out of thousands of letting agents nationally, even though there were many contenders across the whole of the UK. Interested in how you can achieve the highest possible rental income and with minimum void periods? Talk to us today on 0115 924 3304, or use the contact form below.

This is why we are shortlisted as the best letting agent

The Negotiator Awards is the UK’s leading industry awards programme for estate agents and letting agents. Property industry professionals always works hard throughout the year to achieve notations from this award ceremony. As a result of these nominations we have been nominated as the best letting agents in the UK.

Walton & Allen have long been known as one of the largest letting agents in Nottingham and are always striving to provide the best service for Landlord clients. This is how we do it.

We’re the number 1 letting agent in Nottingham

best letting agents in nottingham

Firstly, we are the number one letting agent in Nottingham throughout the whole of 2018 for the most lets agreed. This is according to Rightmove. Similarly, our lettings team has also been listed as the number one letting agent for new instructions in Nottingham city centre since January 2018. (Non student lets).

Keeping Landlords fully informed at all times

We provide comprehensive blogs, emails and printed brochures to keep all our landlords informed of new legislation and landlord requirements at all times. Already registered with us? Then check your email inbox for important news based on the lettings industry. You can sign up to our mailing list here.

Examples of recent information sent to our Landlord clients includes up to date Nottingham house price growth, changes to mortgage rates and Nottingham Selective Licensing.

Providing an excellent level of service to Landlords

We pride ourselves in letting properties quickly, for an above market average. Our lettings Investments Manager, Ricky, is always looking to push rental prices up in each area of block where we let properties. Our partnership with Experian also ensures tenants pay their rent on time and in full every time, giving you piece of mind as a Landlord in Nottingham.

Walton & Allen Letting Agents also work towards ensuring your property is kept in a good condition at all times. This is why we provide quarterly inspections as standard, plus an additional monitoring service for Nottingham Selective Licensing to ensure you remain compliant.

Making life easier for Landlords

One of the major ways we help our Landlords and Tenants is by using the latest technologies. Through use of an app called PropertyFile, important tenancy documents can be stored and accessed at any time and payments and financial details are always available. In addition, Tenants can also report maintenance issues using their camera and a simple-to-use mobile form.

We market properties everywhere we can

best estate agents in nottinghamWhen it comes to marketing a property through our lettings team, we use every channel available. Our window touchscreens display all properties to let and for sale 24 hours a day, 7 days a week and our website is always up to date. We also use other channels such as tracked email marketing, social media. Also, our YouTube channel is used for 360 degree virtual tour videos and our smartphone app continually provides useful Landlord and Tenant tools.

Our Walton & Allen App

There are plenty of Landlord and Tenant tools which are all packed into our smarthp This is all available for free and at the touch of a button for both Apple and Android devices.

Find out what we can do for you as a letting agent in Nottingham

In conclusion, if you are looking at letting your investment property or just want to know rental values then get in touch. We’re always happy to help. Just call 0115 924 3304 or use the form below to contact us.

You can contact me for marketing purposes via:

EmailTelephone

Nottingham Rental Prices Increase

Nottingham rental prices rise in 12 months since May

According to an article by Mortgage Strategy, rental prices rose by 3% in Nottingham and the East Midlands over the last year. This is despite rental prices falling in other parts of the country.

Across the whole of England and Wales, the average rental price is currently £861. In comparison, the average rental price in London is £1,273. Their rental prices were down 0.3% in the 12 months since May.

In addition, the average rental price in the East Midlands stands at £656.

Interested in finding out how much other East Midlands properties are renting for? Then why not take a look at our properties to rent?

Reasons for rental price increase

Many factors could affect rental prices. Firstly, a higher demand for property or an improvement in building quality could improve values. Another important factor which could have affected these prices in Nottingham is Selective Licensing, which is a large cost to all landlords who have rental properties within the licensing area.

Is your property rented out for the right price?

At Walton & Allen Letting Agents Nottingham, we conduct regular reviews on all properties to ensure you are getting the maximum amount of money for your buy to let investment. Following this article do you feel you could be getting a higher rental income from a particular property? Get in touch with Investments Manager Ricky using the form below, or call 0115 9243304. All in all, the rental values for our Landlord clients are some of the highest they can possibly achieve.

You can contact me for marketing purposes via:

EmailTelephone

Considering letting out your property for the first time?

Finally, read why Walton & Allen are the number one agent for lets agreed in Nottingham city centre on our Buy To Let Nottingham page. Alternatively, chat to our friendly lettings team today to arrange a free, no obligation market appraisal. Fill in the form below to arrange a call back, or call 0115 9243304.

You can contact me for marketing purposes via:

EmailTelephone

Lettings Nottingham: How we’re different

Lettings Nottingham: How we’re different

Welcome to Walton & Allen Letting Agents Nottingham. We manage in excess of 400 properties across Nottingham and the East Midlands. This is either on a rent collection basis or a fully managed service.

As Letting Agents, we are committed to providing a first class lettings service. For this reason we always try to ensure we let your property to reliable tenants, for the maximum possible rental value.

How we differ as Letting Agents in Nottingham

Walton & Allen Lettings Nottingham offer a number of benefits as a letting agent. These are included as standard to help both landlords and tenants as much as possible. We also offer all of this for a highly competitive fee.

Why not talk to us as Letting Agents today for a free rental valuation. This will help you to see how much rent you could possibly achieve on your investment?

Read below in detail about all the other features we have to offer.

Experian for Landlords

As an agent providing lettings in Nottingham, we are always working to achieve a 100% rental collection for our clients every month. Now all tenants in Walton & Allen managed properties can opt in to improve their credit score if they pay their rent on time and in full. At the time of writing, this has lead to absolutely no missed rental payments for all those involved.

Property File App

We offer both landlords and tenants the option to use ‘Property File‘, an app which helps you to keep all tenancy documents in one place. Tenants and Landlords can also look at rental invoices and report maintenance issues. This makes everything easily accessible and helps to avoid problems with lost paperwork.

Selective Licensing Management

With the introduction of Selective Licensing in Nottingham, Walton & Allen Letting Agents are able to manage all aspects of the licence. This includes filling in your application and monitoring all licensing requirements during a tenancy. For a full guide on the scheme, visit our Nottingham Selective Licensing Hub.

Free Rental Valuations, Photography and Floor Plans

We offer several services free of charge to offer great value for money. This is all without compromising on service. Our lettings market appraisals and advice is completely free. If you also decide to instruct as as your letting agent, we will also provide professional standard photography for all adverts and free 3D floor plans.

Landlords: Contact our letting agent team today

Fill in the form below to request a call back. Alternatively you can call 0115 924 3304 to chat to our helpful and friendly lettings staff.

You can contact me for marketing purposes via:

EmailTelephone

Lettings Nottingham Video

Click to watch our Letting Agents video below without delay. If you need any further information after this then please do get in touch!

Nottingham Property Investment: City is top in UK for buy to let

Nottingham listed as top UK city for buy to let property investment

A report from the latest edition of Private Finance’s buy-to-let (BTL) hotspots has cited Nottingham as the top UK investment city.

Nottingham property investment now sits in joint 1st position with Liverpool due to monthly rents increasing in the city by £121.00.

The report takes into account the top 10 performing cities for gross rental yields, after mortgage costs have been taken into account. Nottingham is listed as having an average 2018 monthly rent of £929 and an average net yield of 6.2% before tax.

Across the country, rents are rising faster than house prices at a rate of 20% compared to 6% (since May 2017). This has seen an overall increase of 0.9% in rental yields overall.

Whilst this is all great news for buy to let landlords, yields could change fairly quickly. Nottingham has seen a large increase in house prices over the last few months and this could be set to continue. This will of course lower the yields if rental prices do not follow suit.

A full list of top buy to let hotspots are in the table below.

buy to let investment property

Looking to invest in Nottingham?

Do you need a letting agent to manage your properties? Are you looking for your next property investment or your first buy to let?

Talk to our Investments Manager, Ricky, for free, no obligation advice.

You can contact me for marketing purposes via:

EmailTelephone

Which areas are best for Nottingham Property Investment?

This depends completely on what type of property you are looking for. We can recommend areas or properties with high potential gross yields based on your requirements. Why not get in touch with us to find out more?

You can contact me for marketing purposes via:

EmailTelephone

 

Property Investment Club Launch

Introducing our Property Investment Club

Walton & Allen has launched a property investment club in Nottingham. Whether you’re an experienced buy to let landlord or a first time investor it is well worth joining – And it’s free!

By becoming a member of the Property Investment Club you will gain access to:

  • Exclusive property deals
  • Enhanced potential gross yields
  • Property purchase discounts
  • Free advice on the best places to invest
  • A property finding service based on your requirements
  • Mortgage advice

Launch Open Day

We are holding an open day in February 2018 for those who are looking to start or increase their property investment portfolio.

During your appointment you will be able to discuss your requirements, receive advice and pick up your membership welcome pack.

We will also be offering discounted management fees on new instructions to those attending on the day.

Register your interest

The launch open day is likely to take place on 23rd February 2018. To register your interest, please fill out the form below. We will be in touch with a date and appointment time to suit you. We’ll be conducting branch appointments and phone/Skype chats.

You can contact me for marketing purposes via:

EmailTelephone

Visit our dedicated Property Investment Club website to find out more.

Nottingham: The best city to invest in property

Nottingham will be the the best city to invest in property for the next 10 years.

According to the land registry, Nottingham property prices will grow faster than any other city in the UK. If growth continues as it has done from June 2016 to June 2017, prices could rise by a whopping 160%!

This means an investment property valued today at £100,000 could be worth £260,000 in 10 years time!

How do we get this figure?

Looking at the UK House Price Index supplied by the Land Registry, we can see that Nottingham house prices have increased on average by 0.8% month on month. The average house price is around £133,215 which could work out at £346,359 by 2027.  Do you know how much your property is currently worth? Get a free property valuation via email or in person.

nottingham best place to invest in property

How do other cities rank?

The second fastest growing city for property prices would be Glasgow at 131%, followed by Edinburgh at 112% and Manchester at 93% price growth.

What does this mean for property investment in Nottingham?

If you’re looking to invest in property you are extremely likely to benefit, whether you will sell to make a profit or let to a tenant. You can usually invest in property for as little as 25% of the value of the property and if you are looking to buy in cash it may be worth considering splitting it into multiple deposits to buy multiple properties. It just means you can make a greater return on your investment!

First time investor? Read more about how you can invest in property for the first time.

If you’re an experienced investor and wish to invest in more property, Ricky, our investments manager, can recommend the best areas to gain the highest gross yields. Contact him below.

You can contact me for marketing purposes via:

EmailTelephone

Looking for buy to let mortgage advice?

Enter your contact details below to receive a call or face to face meeting and find out how much you could borrow.

You can contact me for marketing purposes via:

EmailTelephone