The Right to Rent Legislation officially took effect on February 1st 2016 for all landlords in England. This means that landlords and letting agents in the area need to conduct checks in relation to renewal of tenancy agreements. Hancock Lettings and Estate Agents is ready to provide assistance to landlords in Chichester and the surrounding areas in this matter. Contact us on 01243 531155 and ask for Samantha Flint, the associate partner at our agency for advice on Right to Rent.
According to the Right to Rent Legislation, landlords and Chichester letting agents will need to check the immigration status of prospective tenants before the tenancy commences. This is not only for shorthold tenancies, rather it applies to all residential tenancies with some limited exemptions for halls of residence, social housing etc.
Winter is usually a quiet time of year in terms of the buying and selling of houses, however, going against the normal patterns, the UK housing market continues to boom. This is excellent news for buyers, sellers and renters alike. We look at the effect on the housing market and in particular, the effect on houses for sale in Chichester.
Falling Mortgage Interest Rates
With mortgage interest rates continuing to fall, more and more people are finding it easier to get onto the housing ladder By the end of 2015 many of the banks and building societies had agreed to lend potential home owners a staggering £18bn in mortgages in December alone. Consumer credit was at the same high as it was in the summer, the highest in eight years.
Proposals by the UK government to deny private landlords tax relief on their buy-to-let mortgages have brought together property owners in the country to mount a legal challenge. Steve Bolton and Chris Cooper are two private investors who are at the forefront of the campaign. They used the Crowd Justice website to set up a page for crowdfunding for the challenge. The endeavour began on 26th Dec 2015 and by January 1st had raised £42,000. The target for the funding was 50,000.
The money from the crowdfunding is meant to fund a judicial review process of the new proposals by Chancellor George Osborne on property tax charges. A judicial review means that there will be legal procedures to analyse the legislation and the submission for this particular one by 17th February.
If you want to be close to the centres of Chichester, Havant or even Portsmouth, without being in the middle of the City, consider looking at houses to rent in the surrounding areas of Emsworth, Nutbourne, Westbourne and Southbourne.
It’s not surprising if you’ve missed Emsworth on your drive along the A27 towards Chichester. It sits on the A259 corridor just off the A27. Located at the north end of Chichester harbour, Emsworth is paradise if you have a love of anything maritime, or a passion for conservation and coastal living. Local residents love Emsworth’s independent spirit.
Situated between Portsmouth and Worthing, just south of the breath-taking South Downs National Park, Chichester has a rich history and plenty to offer any visitor. Those fortunate enough to reside in this wonderful city benefit from living adjacent to both coastal and countryside beauty.
As a property owner it pays to be aware of the special consideration needed to keep your investment in the best possible order, whether for yourself or your tenants. Careful maintenance (especially in winter) and presentation will ensure your property to rent will be a truly des res!
At the end of 2015, the property market had experienced a fall in new listings, with only a couple of cities proving to be the exception. One of these was Chichester, which continues to be in demand among buyers, renters, and investors.
This compact city has always been popular thanks to its proximity to the coast, stunning countryside, and attractive architecture. However, as it is too far from London for most commuters, it has avoided becoming part of the commuter belt, meaning that it has also avoided the rapid price rises that have made the capital unaffordable for many buyers and renters.
Accessibility to London
So why are more people looking for property to rent in Chichester? One answer is that the rail links are good enough to allow some commuters to work in London for part of the week, and working from home the remaining days.
Estate experts forecast that increasing numbers of buy-to-let landlords will be rushing property purchases through prior to the April 2016 deadline for stamp duty hikes bought in by the Chancellor. Many pundits feel that the three percent rise in stamp duty is likely to bring down the prices of property while also pushing rents up.
The Institute for Fiscal Studies has condemned the move, saying it will depress property prices over the long term while forcing higher rents on tenants as landlords strive to recoup their costs. The Institute estimate that up to 50,000 buy-to-let purchases will take place before the April deadline, although insiders say that there seem to be several ways to get around the stamp duty issue.