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The legislative changes every landlord needs to know in 2019

2019 will see several critical changes for landlords with regards to new letting legislation coming into force. This article highlights three key legislation changes that, as a landlord, you need to know about and how best to prepare for them.

  1. Client Money Protection

From April 2019, all letting agents must register with an approved Client Money Protection Scheme (CMPS).

Membership of a CMPS protects the money of landlords and tenants against theft or misappropriation by the owners of a letting agent whilst it is in their custody. This could include monies such as tenants’ deposits and landlords’ rental payments, or funds held for repairs and maintenance to a property.

Many reputable letting agents, such as Wright Marshall, are already a member of such schemes, but in April 2019, they become compulsory and there is a fine of £30,000 for non-compliance.

Landlords should check whether their letting agent is a member of ARLA – the UK’s largest professional body for letting agents, as this will mean they already have a client money protection scheme in place.

  1. Longer Tenancy Agreements

The government want to incentivise landlords to offer longer-term tenancies for a minimum of 3-years.  Rents can still increase during a tenancy, and break clauses can be put in place, but the consultation is part of the Government’s plans to increase security for tenants, whilst also allowing landlords to regain their properties when they wish to sell or their circumstances change.

Exemptions to the rules could apply to some types of tenant – for instance those in student accommodation.

Whilst longer tenancy agreements give landlords security of income for longer periods, it may also impact their ability to evict bad tenants. This means that when choosing a letting agent, it is vital that you ensure they are carrying out thorough and vigilant checks on all tenants to ensure they are reliable and will look after your property during longer tenancy agreements.

  1. Ban on tenant fees

Landlords and letting agents in England are set to be banned from charging tenants letting fees from 1 June 2019. Where tenants can sometimes be charged admin fees such as renewal fees, referencing checking and credit check fees, the new Bill will prohibit landlords and letting agents from charging tenants for anything other than:

•  An administration fee when the tenant requests a change or early termination of a tenancy

•  Utilities, communication services and Council Tax bills

•  Payments arising from a default by the tenant, e.g. replacing a lost key

•  Capping holding deposits at one week’s rent

•  Capping tenancy deposits at 6 weeks’ rent

The Tenant Fee ban is obviously great news for tenants, but for landlords it could be a very different story.

Landlords should pay attention to the tenancy agreements drafted by their letting agent to ensure they do not contain unenforceable clauses.

Wright Marshall is committed to continuing to provide an excellent letting service to our landlords and are working towards mitigating proposed losses in preparation for the tenant fee ban.

If you need further advice, our lettings team can offer you professional advice on how best to comply with the new legislation coming into force this year and will ensure your rented properties are working within the new rules.

Our top 10 romantic properties you’re bound to fall in love with

With romance in the air and Valentine’s Day just around the corner, we’ve handpicked our top properties that offer a touch of romance.  From regal Grade II listed homes with an air of charm, to cosy cottages, and characterful family homes – there’s bound to be a property here that you’ll fall in love with.

Stanley House, Wrenbury, Cheshire
£575,000

Love may not always be black and white, but when you step inside this quintessential family home you know you’ve hit a sweet spot. Extending over 2300 sq. ft. and located in an admiring spot on Wrenbury’s village Green, you’ll be the envy of all the village living here.

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900034046

 

Cornflower Mews, Shropshire
£449,950

Imagine living in a romantic retreat every day? It certainly feels like it when you view this charming and chic mews house with its superb Lavender filled garden and magnificent unique minstrels gallery. Not to mention its French style luxurious en-suite bathroom to the master suite.

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900034438

 

Pine Glen, Hatherton
£545,000

Home truly is where the heart is and wait till you see this magnificent, single-storey country residence. With a laid back French feel, subtle colours and features including a ‘Clearview’ wood burning stove, stunning flooring, part vaulted ceilings and bi-fold doors to the Kitchen Dining Family Room and Master Bedroom Suite, discerning purchasers will be fighting over this one.

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900034779

 

Oak House, Knutsford
£725,000

If you don’t believe in love at first sight, book a viewing to see Oak House. They say you should never judge a book by its cover, so wait till you step inside this exceptional property. The most impressive room is its stunning kitchen/living room/orangery which has only just been completed to include underfloor heating. The entrance hallway has been opened up and a contemporary glass bannister has been fitted to make the most of the light and space. Hurry, it might be snapped up by Valentine’s Day!

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900034933

 

St. Andrews Huxley
£695,000

Do I hear wedding bells? You certainly will when you step a foot inside this wonderful converted church. Retaining many of its period features, this property provides modern day open-plan that every growing family needs. The end result is a superb combination and a viewing is absolutely essential.

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900034463

Sweetmeadows, Wrenbury
£375,000

This converted barn is sure to inspire a little romance. Set around a small courtyard in an exclusive development, this property has been sensitively restored with a range of quality fitments and fixtures throughout plus a wealth of exposed timbers and beams.

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900025316

 

Brook Cottage, Bulkeley
£360,000

Fancy a date night at home? Beautifully situated on a tranquil no through lane, you can guarantee a romantic night in when you live in this property. Comprehensively improved by its present owners, the property boasts a good sized living room with a heavily beamed ceiling and a Jydenpejsen Elegance woodburning stove as its principal focal point.

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900025973

 

The Old Rectory, Tarporley
£2,500,000

You won’t help but fall in love with this substantial period residence. If it’s spot in Tarporley village is not enough to make your heart beat faster, wait till you step inside. The property is surrounded by extensive gardens, swimming pool and tennis court so on those lush hot summer days you won’t be short of anything to do. And if that’s not enough, wait till you see its magnificent reception hall extending in total to 36’6″ x 13’7″.

 

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900034212

 

Whitegates, Knutsford
£1,995,000

If it’s location in the heart of Knutsford doesn’t do it for you, it’s stunning ‘Sheerin’ open-plan kitchen/living space with by folding doors leading out to a large patio area certainly will.  Step upstairs and you’ll be suitably impressed with its 4 spacious bedrooms all with their own Fired Earth En-suite facilities.

 

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900033676

 

Brownhills Cottage, Rushton
£1,250,000

This property is the epitome of elegance. Having undergone a meticulous scheme of renovation, extension and improvement, it now boasts a first class family home that is elegant, light, spacious and versatile. The attention to detail is shown in every aspect of the property, both internally and externally. Just wait till you see the open plan T-shaped kitchen/dining/family room. Flooded with natural light from different angles that shows off its beautifully bespoke kitchen. You’ll be falling in love every day if you buy this property.

https://wrightmarshall.co.uk/estate-agents/property-search/property-details/?id=100900032403

 

Book a viewing today for any of these adoring properties, we’d LOVE to show you round.

 

February Birthstone – Amethyst

February Birthstone – Amethyst

Once considered a cure for drunkenness, the February birthstone is bright, vibrant and decadent. Amethyst is the purple variety of quartz, coloured by traces of iron within its crystal structure. This regal gemstone is associated with February birthdays, and makes a wonderful gift for a loved one’s special day.

Amethyst is associated with February in the Gregorian birthstone calendar. Here in a poem featured in a Tiffany & Co. publication, the verse reads:

The February-born shall find Sincerity and peace of mind, Freedom from passion and from care, If they an amethyst will wear.”

Another association between the birthstone and the month of February is the myth that St. Valentine, the patron of romantic love, was said to wear an amethyst ring carved with the image of cupid. As such, amethyst jewellery is also a wonderful and meaningful gesture for the special person in your life on Valentine’s day.

Amethysts are the perfect gemstone to light up a party! The association between this special quartz variety and merriment stems back to Greek times. The name amethyst derives from the Greek for ‘against intoxication,’ and the gemstone was thought to prevent drunkenness. It is likely that the rich purple of the stone was compared to the shades of red wine, and some have even thought that if water were poured into an amethyst vessel, it would appear the colour of wine and so could be drunk without consequence!

Our next Boutique sale features a wealth of stunning amethyst jewellery, including rings, pendants, earrings and brooches. What better chance than to add this wonderful gemstone to your jewellery collection!

 

Lot 60: A mid Victorian amethyst and diamond brooch

The old and rose cut diamond star cluster inset to the oval shape amethyst, within an openwork surround, estimated old cut diamond weight 0.10ct, length 5.9cm, weight approx. 24.2g. £350-450

Lot 83: An amethyst and diamond brooch

The rectangular shape amethyst with graduated circular cut diamond partial surround, estimated total diamond weight 1.10ct, length 3.6cm, weight approx. 12.1g. £300-400

Lot 125: An early 20th century amethyst and diamond brooch

Of geometric design, the kite shape amethyst within a rose cut diamond and circular shape amethyst openwork surround, AF, length 2.9cm, weight approx. 5.7g. £200-300

Lot 164: An amethyst dress ring

The rectangular shape amethyst within a four claw setting, stamped 18ct, approx. dimensions of amethyst 21.4 x 16.9 x 9.8mm, ring size K, weight approx. 9.4g. £150-200

Lot 250: A mid Victorian amethyst and diamond suite of jewellery

Comprising a cross pendant, designed as an old cut diamond with rectangular shape amethyst arms and old cut diamond trefoil terminals, together with a pair of amethyst and diamond earrings, designed as an oval shape amethyst and rose cut diamond cluster suspending an amethyst briolette drop with vari cut diamond cap, estimated total old cut diamond weight 2.25ct, principal diamond weight approx. 0.95ct, estimated colour K-L, estimated clarity SI, length of pendant 6.3cm, length of earrings 3.7cm, in fitted case, total weight approx. 27.3g. £600-800

Our Spring Boutique Sale is taking place on Saturday 23rd March, entries for the sale are invited until Friday 1st March. For further information about the Boutique sale, contact Liz Bailey on 01565 653 284 or email lizbailey@wrightmarshall.co.uk