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

Nuneaton Property SOURCING for Investors…

Let us help you find the right property investment for you

Are you thinking about investing in Nuneaton? Maybe you’re a pro investor and could buy properties in your sleep or, maybe like some people we’ve spoken to recently, you’re new at the property investing game?

Either way, I’m delighted to announce that we are venturing into property sourcing for investors and our services will include a basic “property source” right through to quoting and managing the refurbishment of your newly sourced property as well as property management at the end of the process.

We will be with you every step of the way. Either holding your hand (metaphorically speaking of course…thanks to COVID 19) through it all (if you need a bit more reassurance and support) or just provide regular email updates with photos of the progression so you know that things are being dealt with.

You’ll know from this blog that Mariam and I love property and are always keeping up to date with what’s going on in the local community (town improvement plans, new build sites etc) as well as the Nuneaton property market as a whole. So, if you want to use our property sourcing service for a property investment in Nuneaton, please feel free to get in touch and we’ll be delighted to find you the next gem in your property portfolio.

Melissa