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Everything You Need to Know as a Landlord in Bristol in 2021
If we’ve learnt anything from being a Bristol Letting Agency in the past 12 months it’s that we never know what’s around the corner.
As if a global pandemic wasn’t hard enough, in the property sector, we’ve had new rules and regulations to get our heads around. That as well as enhanced safety requirements to understand, and that’s before we even get on to evictions.
But as one of the leading Lettings Agents in Bristol, it’s our job to stay on top of new legislation to make your life easier. So, landlords here’s everything you need to know.
The Debt Respite Scheme
From May 2021, tenants have been able to apply for some breathing space if they’re struggling to pay back debts — including rent.
Under this new scheme, landlords can’t take any action for 60 days. During this time, interest rates, evictions, and penalties are frozen too.
Evictions and Notice Periods
2020 saw evictions halted but, from June 2021, they resumed again — albeit with extended notice periods in place.
Currently, Bristol Letting Agencies can start eviction proceedings by issuing a section 21 or section 8 notice. But if your tenant is self-isolating or suffering with Covid symptoms, you’ll need to wait until these have passed.
New and Improved Safety Requirements
The government wants to improve tenant safety and has introduced a number of requirements that must be met in any rental property. These include approved electrical installations and regular inspections.
Tenants must also be given a report of any findings within 28 days. Your Bristol Letting Agency will be able to support you with these too.
Stamp Duty Extension
Looking to expand your property portfolio? You have until October to take advantage of the extended stamp duty holiday.
Put simply, you won’t have to pay basic stamp duty on the first £250,000 of property. But you will still be required to pay the 3% stamp duty surcharge.
Open Doors for Pets
Finally, a touchy subject for many landlords — whether or not to allow pets.
The government is now making it easier for responsible tenants with well-behaved pets to rent their dream home by putting an official clause in their standard tenancy agreement.
Of course, this isn’t a legal requirement and landlords can still make their own decisions. But, you won’t be able to issue blanket bans on pets under the government’s model tenancy agreement.
How Can a Bristol Letting Agency Help?
Struggling to keep up? Perhaps you’re looking for a lettings agent in Bristol to take on some of the burden.
At Brunt & Fussell, we do exactly that while ensuring that the letting of your property is legally managed and maintained.
Contact us today for a free valuation for your property.
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Struggling to Pay Rent? What Support is Available from Your Bristol Letting Agency
The coronavirus pandemic has impacted our economy like never before. The effects of it are likely to keep rippling as restrictions continue to ease.
Job losses, lack of business, and uncertain finances have unfortunately meant that some tenants have been struggling to pay rent.
But don’t worry as there are a few things you can do and they start with speaking with your Bristol Letting Agency.
Speak to your letting agency about options available
While this situation might be the last sort of thing you want to deal with, it pays to be open, upfront, and honest. Speak to your lettings agent in Bristol and landlord to explain where you stand.
Unless you ask the question, you won’t know what the future holds
See what your agreement includes
If you’re struggling to keep on top of your monthly rent payments, talk to your Bristol Letting Agency or landlord to see what your contract options are
This might not be possible for everyone but being honest about your situation and keeping everyone in the loop will help. Unfortunately, your landlord doesn’t have to reduce your rent or allow you to end your tenancy early, but it’s worth asking what options are available.
Explore The Realm of Housing Benefits
Your local council will also be able to help if you’re struggling to pay rent because of the pandemic. Speak to your Bristol Letting Agency to explain your situation and they’ll be able to point you in the right direction.
If you’re bringing in less money every month, you may find that you’re entitled to housing benefits or help with paying bills. You may also be able to claim for free school meals, council tax and living costs which might mean you have more money to put towards your rent.
Speak to a Lettings Agent in Bristol that Can Help
Not being able to keep up with bills and rent is scary. But you’re not alone. When you choose to rent through Brunt & Fussell, we’ll be with you every step of the way. In fact, we’ve helped hundreds of tenants to navigate the “new normal”.
As well as giving you an honest and transparent service, we strive to keep up to date with the latest news and guidelines regarding the property. And, we’ll relay everything back to you and your landlord so everyone is on the same page.
Whether you have any questions about missed rent payments or are ready to start looking for your new rental property, contact our Bristol Letting Agency today.
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4 Things Potential Property Buyers in Bristol are Looking for in 2021
House prices are rising (yay for homeowners!) but with this comes a lot of people wanting to sell with a Bristol Estate Agent — making the competition fierce.
So how exactly can you make sure that your home stands out from the rest? And what exactly are homebuyers looking for in 2021?
1. Extra Space to Use as An Office
We’ve all been spending more time at home. But let’s be honest, our poor backs can’t hack the daily slog from the sofa or at the kitchen table for any longer.
From noisy washing machines to kids walking in, working from home can be tough at the best of times. So it’s no wonder that our Bristol Estate Agents have seen more people looking for a spot at home they can call an office.
2. Outdoor Space and Gardens
Another thing that lockdown taught us? We all need to get out more. Even if it’s just enjoying your morning coffee with the sunshine on your face or spending a few hours after work in the fresh air.
Bigger isn’t always better either. Balconies, yards, patios and shared gardens are also proving popular. After all, not everyone has green fingers.
3. A Focus on Wellbeing
For some it’s about having an open-plan kitchen where all the family can come together. Others might look for a quiet space that they can call their own. Someone else might be after a spa-like bathroom, ideal for a soak after a long day at work.
We all have a different idea of what wellbeing is. But it doesn’t stop us looking for it in our homes. Your Estate Agent in Bristol will be able to help you on this one, with a few key staging tactics that will allow any potential buyers to envision the space as their own.
4. A Simple and Safe Process
Okay, so this might not be related to the property itself but as a Bristol Estate Agent, we know that it’s just as important. Buyers want a simple and straightforward journey as well as an Estate Agent in Bristol that they can trust.
It’s no surprise that many are looking for Covid-secure viewings as well.
Sell Your Home for More in 2021
Thinking of selling your home in 2021? You’ll be pleased to know that the market is geared towards buyers right now. As one of the leading Bristol Estate Agents, we can help you every step of the way.
We’ve built our Bristol Estate Agent business on trust and integrity, and many of our customers return time and time again. As well as this, we can help with financial advice and answer any questions you may have about the conveyancing process.
Book a free valuation today to start the process. From here, we’ll advise you on the next steps as well as offering a marketing strategy to take your house selling to the next level.
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Budget 2021: What Help is Available for Buyers in Bristol?
Everyone talks about getting on the property ladder and how important it is. But actually getting anywhere near finding the right house can feel just as impossible as winning the lottery.
So, as a Bristol Estate Agent, we were delighted when chancellor Rishi Sunak revealed that he was determined to turn generation rent into generation buy in his 2021 Budget.
But how exactly does he plan on doing this?
What is the 95% Mortgage Scheme?
As a Bristol Estate Agent, we’ve got a lot to blame Covid for including the fact that it’s now harder than ever for first-time buyers to get their hands on a mortgage. But Rishi Sunak wants to change this.
His new 95% Mortgage Scheme will mean that banks and building societies will be able to offer 95% mortgages again, meaning you only need to find a 5% deposit.
Who is Eligible for the 95% Mortgage Scheme?
If you’re a first-time buyer in the UK who is looking to buy a property with a Bristol Estate Agent, you'll be pleased to know you can take advantage of the scheme. It’s only open to new mortgage applications though and isn’t available for second homes or landlords.
A few other things to bear in mind. The property has to cost under £600,000, the mortgage will be on a repayment basis and you’ll need to be credit checked and meet the affordability tests. It’s also only available until the end of 2022.
Where Can I Get a 95% Mortgage?
Tempted to get started looking for your first home with the help of an Estate Agent in Bristol? Perhaps you’ve found the dream pad and you’ve already pictured where you’re putting the Christmas tree…
Lots of big lenders are now offering these mortgages including NatWest, Barclays, HSBC, and Virgin Money — with interest rates coming in at below 4%.
Other Help Available for Buyers
Got your eye on a sparkly new build property? Maybe you’ve seen a new build estate advertised by our local Estate Agent in Bristol?
The Help to Buy Equity Loan scheme is also still available until 2023. Just like the new 95% Mortgage Scheme, all you need to do is put together a 5% deposit for a property that’s worth up to £600,000.
Rightmove recently revealed that on a 5% deposit, first-time buyers would need to save around £10,000-£20,000. But this depends on where you’re looking to buy, of course.
Taking the First Step
Are you a buyer looking to kickstart your property search with a Bristol Estate Agent? Perhaps you just want to know exactly what’s on offer.
Either way, we’d be delighted to help. Our expert team at Brunt & Fussell has helped hundreds of people, just like you, to find their dream home. Plus, we’ll be with you every step of the way and will be on hand to answer any of your questions.
Register your interest today and let’s take the first step towards your new chapter together.