Support, Advice and Experience within the Property Market

What to look forward to in 2016

From Robert Ulph on December 29, 2015

As 2015 comes to a close I thought I would take the opportunity to highlight some areas that Landlords will need to be aware of leading into the new year.

First, let’s first review 2015. What a year it has been with a new Government voted in and some of the immediate changes they have made in the property and especially the residential letting market. Some of these changes do feel rather like there is an move to dissuade the small time investor to becoming a landlord: With the phasing out of higher tax payers tax relief, increasing stamp duty by an extra 3% on buy to let property, making Landlords subject to criminal charges if certain checks are not carried out on their tenants and the potential inability to regain possession of property if the contract and procedures have not been followed 100% correctly – these could all make a buy-to-let investor wary of putting their toe in the water. Without such investors though there will potentially be a shortfall of property available To Let for those who cannot afford to or simply do not want to buy.

So is there anything to look forward to in residential letting next year you may ask?

In our opinion there are very few investments to match the performance or residential property, even with all these added expenses, if you buy right and use a professional ARLA Agent to give you the best advice, there is still no better investment out there. Next year house prices are still set to increase, interest rates are set to remain low, rents are still on the rise – even with all the impositions levied by the chancellor it is still going to be a year to invest.

My advice is that this new legislation has not finished and the Government is looking to bring in even more laws to hopefully stop bad agents and Landlords; new legislation can easily trip up an inexperienced Landlord or a Letting-only Landlord who have not gone through the process of finding a tenant themselves in the last year, so make sure you take advice and use an ARLA agent to make sure you don’t come unstuck.

Let’s make 2016 a good year and if you are thinking of investing please give me a call on the details below. The last thing to say is I hope you have enjoyed my articles in 2015 and I am pleased to confirm I will be back next year with further advice, but until then a very Happy New year to you all.