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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

Birmingham Wise Choice for Buy-to-Let

19th Mar 2018

It may be surprising to those outside of Birmingham, that the city since 2016 has been lauded as one of the top cities in Europe to invest in when voted the sixth highest in the PwC and Urban Land Institute ‘Emerging Trends in Real Estate’ report.; even more surprising was that London didn't make the top 10.

birmingham city
www.canstockphoto.com

Over the last few years Birmingham has established itself as one of the best cities in Britain for property investments, and should be seriously considered for any further additions to existing portfolios.

Birmingham has received billions of pounds investment for redevelopment to encourage people and businesses into the city which has resulted in attracting many new firms, professionals, skilled workforces to the 'hot spot'.

Along with the promised HS2 rail service with an excellent, reliable and fast connection to the capital, Leeds and Manchester which no doubt will attract even more professionals and businesses into the city's precincts. Already plans have been developed to build new residential areas alongside retails sites to attract a new influx of professionals and businesses.

However as positive as Birmingham sounds for investment in property there will be risks as in most areas and many new 'would be' investors in the city will take their time on a thorough research of the area... but the potential is there.

There are relatively low numbers of housing which has pushed prices sky high and Birmingham is trying to encourage buy-to-let investors back to the city with the new residential developments.

In the last few years investors have enjoyed yield growths of nearly 25%, during 2015/16 the price growth was 5.3% and it is now predicted that capital gains profit will rise up to 17% over 2015 to 2019.

One other 'plus' that Birmingham offers is it 'houses' 75,000 students every year and affordable price outside of the Halls of Residences are a second year student's priority.

The city of Birmingham has a great potential for landlords wishing to expand heir portfolios or for those investors just entering into the sector.


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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

 

 

 


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Fit for Habitation|March 2019 The ACT is intended to define minimum standards a rental property MUST be and makes a clearer pathway way for Tenants to be compensated|https://www.pims.co.uk/fit_for_habitation_act_march_2019/ Guarantor|The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail|http://www.pims.co.uk/guarantors/ MEES|The Minimum Energy Efficiency Standard (MEES) Landlords are charged with the requirement to bring their rental property to a minimum EPC rating of E. Property with F and G rating will effectively be banned from the rental market April 2018 |http://www.pims.co.uk/epc/ Section 11|Section 11 of the Landlord and Tenant Act 1985 places an obligation on the landlord to maintain the structure and exterior of the property, including installations for the supply of water, gas and electricity, heating systems, drainage and sanitary appliances|http://www.pims.co.uk/landlord-section-11-repairs/ serving date|This date is the date deemed received at the property - as an example if posted allow for posting days|/serving-notice-on-a-tenant-delivery-days/ Tenancy Application|The objective of vetting is to empower yourself so you can make an informed decision as to the calibre of the prospective person. Making your decision on facts and figures is invaluable and this is why you should always take references. The application form also provides you with permission to perform credits. This form details all the information you should ever require deal with most eventualities including absconding tenants|http://www.pims.co.uk/doc/57/ Tenant Fees|From June 2019 where renting properties in England gone are the days of charging for admin, letting fees, vetting, references, inventory, check in, check out, cleaning, pet insurance or ANY other fee that is not explicitly permitted within the legislation. |https://www.pims.co.uk/ban_letting_fees_act_2019/