Fern Property Services

27/08/2021

Do you create a report on your proposed investment area prior to any viewings?

Here are a few items which should form part of your due diligence when choosing an area to invest in.

-General area info - Population, demographics, economy, transport, education etc
-Environmental issues - Is the area prone to flooding, subsidence, contamination etc?
-Sold property prices - Can you buy BMV or are prices at or above the national average?
-Rental prices - After the mortgage, management fees and MOE, will the net rent cover any future mortgage interest rate rises etc?
-Local authority development plan - Usually covers 15 years

2/3 different area reports is ideal for comparison. This will help you make better informed decisions as to whether or not the area is good for investment.

Fern Property Services provide detailed area reports for property investors.

We also provide feasibility reports including commercial to residential etc for property developers.

Contact us today for further details.

27/08/2021

Have you complied with the latest government legislation regarding 5 yearly electrical testing?

From 1ST APRIL 2021 Landlords of existing privately rented accommodation must:

-Ensure national standards for electrical safety are met. These are set out in the 18th edition of the ‘Wiring Regulations’, which are published as British Standard 7671.
-Ensure the electrical installations in their rented properties are inspected and tested by a qualified and competent person at an interval of at least every 5 years.
-Obtain a report from the person conducting the inspection and test which gives the results and sets a date for the next inspection and test.
-Supply a copy of this report to the existing tenant within 28 days of the inspection and test.
-Supply a copy of this report to a new tenant before they occupy the premises.
-Supply a copy of this report to any prospective tenant within 28 days of receiving a request for the report.
-Supply the local authority with a copy of this report within 7 days of receiving a request for a copy.
-Retain a copy of the report to give to the inspector and tester who will undertake the next inspection and test.
-Where the report shows that remedial or further investigative work is necessary, complete this work within 28 days or any shorter period if specified as necessary in the report.
-Supply written confirmation of the completion of the remedial works from the electrician to the tenant and the local authority within 28 days of completion of the works.

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12/07/2021

Some useful links to help private landlords:
https://www.gov.uk/housing-local-and-community/housing
https://www.gov.uk/government/publications/landlords-guide-to-right-to-rent-checks
https://www.gov.uk/private-renting/houses-in-multiple-occupation
https://www.gov.uk/government/publications/covid-19-and-renting-guidance-for-landlords-tenants-and-local-authorities/coronavirus-covid-19-guidance-for-landlords-and-tenants
https://www.gov.uk/government/collections/housing-health-and-safety-rating-system-hhsrs-guidance
https://www.gov.uk/government/publications/protecting-the-homeless-and-the-private-rented-sector-government-response-to-the-select-committee-report
https://www.gov.uk/government/publications/current-registered-providers-of-social-housing
https://www.nrla.org.uk/news/the-complete-fire-safety-guide-for-landlords
https://www.gov.uk/government/news/new-standard-tenancy-agreement-to-help-renters-with-well-behaved-pets
https://www.citizensadvice.org.uk/housing/renting-a-home/student-housing/students-in-private-rented-accommodation/
https://www.gov.uk/government/publications/electrical-safety-standards-in-the-private-rented-sector-guidance-for-landlords-tenants-and-local-authorities/guide-for-landlords-electrical-safety-standards-in-the-private-rented-sector
https://www.hse.gov.uk/gas/landlords/
https://www.gov.uk/private-renting/repairs
https://www.tradingstandards.uk/media/documents/commercial/codes-of-practice/tpo-sales.pdf
https://www.tradingstandards.uk/media/documents/commercial/codes-of-practice/tpo-residential-lettings.pdf
https://www.theprs.co.uk/consumer/who-needs-to-join
https://ico.org.uk/for-organisations/guide-to-data-protection/guide-to-the-general-data-protection-regulation-gdpr/
https://www.gov.uk/government/publications/uk-national-risk-assessment-of-money-laundering-and-terrorist-financing
https://www.gov.uk/government/organisations/hm-revenue-customs
https://www.tpos.co.uk/

12/07/2021

Have you kept up to date with new/updated landlord regulations for 2021? Check below:
January - Brexit, 2nd reading of the dogs and domestic animals (accommodation and protection) bill, Online tax return deadline
February - New Scottish smoke alarm law
March - Changes to eviction legislation
April - Stamp duty changes, Client money protection, Deadline for electrical compliance
June - Changes to Right to Rent
No fixed date -Changes to planning regulations, Amendment to renting homes (Wales) Act 2016, Deadline for landlords to implement MTD, Abolition of Section 21, Potential increase in Capital Gains Tax