New notice period for rental properties- Nuneaton Landlords…Listen up!

I wanted to get this VERY important information out to you as soon as possible and make it as detailed as possible, so…… I copied it from HMRC website. I know, I know, that’s so un-original! But it’s important so, read on…

“The provisions in the Coronavirus Act 2020 have been extended meaning that from 29 August 2020, landlords must provide six months’ notice to their tenants in most circumstances. However, there are some serious cases where it is right that landlords are able to start progressing within a shorter timeframe. This is because of the pressures these cases place on landlords, other tenants and local communities.

These changes mean that from 29 August 2020:

  • For notices in relation to anti-social behaviour, domestic abuse, rioting and false statement, the required notice periods have returned to their pre-Coronavirus Act 2020 lengths. In some cases, this means that proceedings for anti-social behaviour can be brought immediately after notice has been served. Notice periods on these grounds otherwise vary, depending on the type of tenancy and ground used, between two weeks and one month.
  • Where at least six months of rent is unpaid, a minimum four-week notice period will be required. If less than six months of rent is unpaid, then the notice period is six months.
  • Where a tenant has passed away or is in breach of immigration rules and does not have a right to rent a property in the United Kingdom then a minimum three-month notice period is usually required.
  • Where a social tenant has an introductory or demoted tenancy (used by local authorities), for cases concerning anti-social behaviour (including rioting) and domestic abuse, a four-week notice period will be required. Otherwise, notice periods for Introductory and Demoted Tenancies will be six months.
  • A six-month notice period is required for all other grounds, including Section 21 notices and, as highlighted earlier, where accrued rent arrears are less than the value of six months’ rent.

At the expiry of the notice period, a landlord cannot force a tenant to leave their home without a court order. When the notice period expires, a landlord would need to take court action if the tenant was unable to move. We strongly advise landlords not to commence or continue eviction proceedings during this challenging time without a very good reason.

Where appropriate, if disputes over rent or other matters persist, landlords and tenants are encouraged to consider mediation. Mediation allows an independent third-party to assist those involved to reach a mutually acceptable agreement to resolve their dispute, without the matter needing to go to court. While early mediation may be most beneficial in helping parties come to an agreement, this can take place at any point during the possession action process.”

It’s me again now. So, that makes for an interesting read, doesn’t it. All i will say is, if you are managing properties yourself just KEEP IN TOUCH with your tenants. Please be understanding, be supportive and make compromises. I know there will be some people out there who go on the defensive and demand the rent but, trust me, that definitely will not help! If tenants know that you are on their side, they will be so much more cooperative to help you too.

If it’s not the rent that’s the issue but it’s antisocial behaviour then you will be able to get some additional support for that.

Good luck out there! It’s a crazy world we’re living in at the minute.

Melissa

What exactly is happening to Nuneaton house prices post lockdown?

What will house prices do this year? Do we sit and wait patiently for the much-predicted house price crash in the next few months, or will the UK property market bounce back following the stamp duty holiday announcement?

If, like me, you are confused by the latest figures released by Rightmove, which show a 2.4 per cent house price surge compared to March in the month leading up to 8th July 2020. This number comes in only a few weeks after other house price data was showing a steady decline, with the first annual house prices fall (of 0.1 per cent) since 2012. Buyers and sellers alike are struggling to get their heads around these fluctuations understandably!

It would seem that the government’s stamp duty holiday plan is paying off, at least in the short term: the cancellation of all stamp duty payments on properties up to £500,000 has inevitably resulted in a spike of buyer interest – and in sellers being able to raise asking prices, bringing up the average property price in the UK to £320,265.

To find out more about the effect this is all having on Nuneaton house prices whether you are buying or selling, please feel free to drop us an email at info@qthomes.co.uk

Stockingford, Nuneaton- Watch this space!

Do you have a property in the Stockingford /Grove Farm area? Are you thinking of selling …or maybe in 2 minds as to whether to sell or rent? Well, hopefully reading this will help you decide.

Many months ago I wrote an article on plans for a new train station to be built in Stockingford, in fact there used to be one where the Aldi is now (many moons ago).

The plan is to have the station up and running by 2023 and will be on the Cross Country route to Birmingham with one train running per hour initially.

Cllr Philip Johnson, chairman of the communities overview and scrutiny committee said: “A new station in west Nuneaton will have a really positive impact on that part of the town.
“It would increase connectivity by providing access to important destinations such as Birmingham, Coventry and further afield which is essential for ongoing development of the local economy.”

It is hoped that another station in the area would significantly ease road congestion in the area, resulting in an estimated saving of 520,000 road vehicle kilometres a year by 2023, rising to 1.5m km a year by 2029 and with all the new builds popping up so fast this will hopefully be a huge relief on congestion in the town.

So, going back to your property in this area. My recommendation, to anyone who is looking to move but doesn’t necessarily need to sell their current home to do so, is to keep it!

Keep it and rent it out!

Many people have a misconception of this part of town but I can put my hand on my heart and reassure you that rents in this area are just as achievable as any other part of town, and there are ample tenants looking to rent in this area too!

Similarly if you are an investor, I would strongly suggest investing here NOW before everyone clocks onto the fact that in a few years’ time this is going to be a hot spot area for commuters to live in, from both near (Birmingham etc) and far (London).

If you would like to speak to us about investing in Nuneaton, or you have a property that you would like to rent out, we are currently running a summer offer whereby if you sign up by 7th September 2018 we will fully manage your property for 10% a month including VAT with no initial set up fee to you!

If it goes ahead, the new station, which could open as early as 2023, would be on the CrossCountry route to Birmingham, with one train running per hour initially. Exciting times ahead folks! Don’t miss out.

For any further information, please fee free to get in touch with Melissa or I on 02477 674545