How is the Energy Squeeze Affecting Rents, Costs, and Yields?

How is the Energy Squeeze Affecting Rents, Costs, and Yields?

Each month we bring you the latest news on landlords and tenancy with a quick round-up all in one place.

 

How is the Energy Squeeze Affecting Rents, Costs, and Yields?

Goodlord (5 min read)

New research has suggested that energy bills will rise at least 14 times this year with UK inflation approaching a 40-year high. This article takes a look at the implications for the property market and the private rented sector in particular.

Full story > https://bit.ly/3kzPzD3

 

Right to Rent: End Date for Temporary Adjusted Checks Delayed Until 30 September 2022

Goodlord (2 min read)

Temporary changes made to right to rent checking procedures will stay in place, the government has confirmed. Until 30 September letting agents and landlords can continue following the temporarily adjusted guidelines introduced due to the pandemic whilst making changes to pre-tenancy checking processes and procedures before the new deadline brings permanent changes into effect.

Full story > https://bit.ly/38KFdxk

 

Property Inventories Important for Lettings Compliance and Regulation

Landlordnews (2 min read)

This article suggests that property inventories will only become more important with the introduction of more regulation and reform to the private rented sector. “As part of the government’s plans for widespread rental reform – the largest reforms in a generation – there are proposals for a Decent Homes Standard in the PRS, in the same way there currently is for social housing, and also other measures aimed at clamping down on rogue operators.”

Full story > https://bit.ly/3MMvy8p

 

Spring ‘Frenzy’ as All Regions See Record House Prices, Says Rightmove

Housing Today (1 min read)

This brief update highlights some key numbers from the latest housing market data from Rightmove. Possibly the most powerful of the three is “House prices hit a record high in all regions of England and Scotland for only the second time in 15 years, according to Rightmove.”

Full story > https://bit.ly/3ky0oFR

 

Beware the Boiler Ban

The Negotiator (5 min read)

In a nutshell: “Owners of rural properties in areas not on the mains gas grid face a ban on replacement LPG, oil or coal-fired boilers in just four years’ time”. As part of the Government’s plans to decarbonise the economy property owners will be hit with significant replacement costs.

Full story > https://bit.ly/37a2rwF

 

New CO and Smoke Regulations Imminent

The Negotiator (2 min read)

After an industry consultation in November 2020, (which seems like a long time ago, now) the Government’s Housing Minister, Eddie Hughes said there would be changes to smoke and carbon monoxide regulations. This article suggest those changes may start to come into force this Autumn.

Full story > https://bit.ly/3F82Wno

 

First Landlord Fined for Non-Compliance with Electrical Checks Laws

The Negotiator (1 min read)

Here’s a reminder, if one were needed, of the importance of compliance when it comes to electrical safety checks after a landlord in England was fined for the first time for non-compliance.

“Since July 1st 2021 all residential landlords in England must ensure that the electrical installations in a property are safe and are inspected and tested at least every five years, regardless of when the tenancy started. Wales is due to follow suit in July”.

Full story > https://bit.ly/3F8Lzmm

 

EPCs – Challenge for Landlords with Mid- and Low-Value Properties

Landlord Today (1 min read)

New research by Savills has highlighted the impact of energy efficient properties on property prices. Just over 70 percent of survey respondents said that EPC ratings are important in their decision making. Across England and Wales, buyers on average pay 59 per cent more for homes that offer a cleaner energy supply.

Full story > https://bit.ly/3FphFux

 

 

Thomas Palmer, Acting Head of Lettings

 

 

With over 130 years in the industry, Watsons is firmly established as a leading independent Norfolk letting agent. Whether it’s a classic let, a buy-to-let, or increasingly let-to-buy, we offer a range of services designed to make letting a property simple and hassle-free. Visit our lettings page to get in touch with a lettings specialist.

Watsons Property

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