Category Archives: Lettings

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The Salisbury, Swansea, re-invented

Churchill Buildings is set to join the cast of one of Swansea’s most desirable apartment developments by replacing the Ballroom in Walter Road’s ‘The Salisbury’ with a high specification kitchen & substantial sized lounge.

You could be entertaining guests where ladies and gentlemen of the 1920’s danced to the Charleston! The new and exciting development enjoys a prestigious location just a stone’s throw from the heart of the City of Swansea, with all major transport links being within walking distance.

There is a selection of executive apartments boasting contemporary kitchens, oversized bathrooms – some with roll top baths. Original features such as bare brick walls and fireplaces produce a spectacular look, with each flat benefitting from its own quirky style.

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With some of its apartments enjoying 1000+ square footage, these really do need to be seen! Prices start from £695pcm. For more information or to arrange a viewing, contact Dawson’s on 01792 301000.

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Leading estate agent’s Rent Smart Wales open evening proves to be a sell-out success amongst local landlords

Landlords across the region were given the support and advice they needed thanks to Swansea-based estate agent Dawsons’ recent ‘Rent Smart Wales’ open evening.

 

Taking place at their Walter Road branch, the event provided essential information regarding landlord registration and licensing, as well as the approaching registration deadline, areas that have been hot topics among landlords in Swansea and the rest of Wales since the introduction of new legislation back in November 2015.

 

“We hoped that the evening would be well received and informative for landlords across Swansea and Llanelli, and this proved to be the case. We had a fantastic turnout, and our team has already received some great feedback from those who attended. Thanks to the information and additional support provided, I’m certain that many landlords are now fully reassured and fully updated in regards to their licensing and registration obligations with Rent Smart Wales,” said Ricky Purdy, Director of Residential Lettings at Dawsons.

 

Dawsons’ lettings department greeted almost 20 landlords over their original allocation when they opened their doors on Tuesday 12th April 2016. The team is already planning additional events to ensure landlords everywhere can stay up-to-date whatever changes the latest legislation may bring.

 

“All in attendance will be updated regularly as part of our service following the event, and will be guided through requirements should they ever need a helping hand. Those landlords who attended the event now know we are only a phone call away,” concluded Ricky.

To discover more about Dawsons’ next landlord open evening, additional upcoming events or their comprehensive range of landlord services, please call 01792 301000 or email rsw@dawsonsproperty.co.uk. Further information about Rent Smart Wales and associated landlord accreditation, registration and licensing can also be found at www.rentsmart.gov.wales.

 

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Swansea open evening set to assist landlords in how to comply ahead of licensing deadline

Photo Caption: Director of Residential lettings Ricky Purdy

The rental sector across the UK property market remains a hot bed of activity; most recently the question raised is how landlords can continue to self-manage a property in Wales whilst adhering to the requirements of Rent Smart Wales. To ensure landlords throughout the region have the correct advice and support so they may continue letting from November 23rd this year, Swansea-based letting agent Dawsons is set to host an informative open evening at their Walter Road branch.

 

Taking place on Tuesday 12th April 2016 from 6pm, Dawsons’ lettings department will open its doors and its team of time served property experts will share their knowledge and the most up-to-date industry insights on landlord registration and licensing.

 

“Since 23rd November 2015, it has become a requirement for all landlords operating in Wales to become registered. As part of this new requirement from Part 1 of the Housing (Wales) Act 2014, landlords were given one year to comply with this obligation, as is the case for licensing should a landlord manage a property without the use of a letting agent. The open evening will be in line with our eight month countdown to the November 23rd 2016 deadline,” said Ricky Purdy, Director of Residential Lettings at Dawsons.

 

In order to register with Rent Smart Wales, a landlord must provide accurate and current information about themselves and their rental properties. However, despite Rent Smart Wales being set up and run through Cardiff Council assisted by the wider Welsh Government to help landlords across the entirety of Wales, many are still unaware of the change in legislation, how to register as a landlord and whether the new requirement of licensing even applies to them.

 

“We promise an informative evening designed to update self-managing landlords on this hot topic. Landlords can take full advantage of this opportunity to learn of the time frames, initial requirements and landlord costs as well as the ongoing needs that mandatory licensing puts upon private sector landlords within Wales. All landlords will be provided with informative guides and introductory packs to take away and benefit from, and our team will also be available to offer professional assistance prior to the November deadline,” concluded Ricky, with greatly discounted service options also available on the night for those who see the introduction of licensing as an ideal opportunity to utilise the services of a letting agency.

If you wish to be included in this event please call our city centre office 01792 301000 email rsw@dawsonsproperty.co.uk to confirm your place. Limited spaces available.

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Leading south Wales estate agents continues to help landlords on new regulations

Dawsons is at the forefront of helping to make landlords fully aware of updated regulations brought in under Rent Smart Wales.

Those regulations require all landlords to be registered and licensed, or if landlords are using an agent that they ensure their agent is licensed.

The regulations came into force on November 23rd last year, requiring landlords and agents to comply with the new legislation, licensing those who deal with letting and management activities of properties within the private rented sector.

It is intended that the legislation will result in improved standards of letting, provide more information on landlords for tenant verification, raise awareness by landlords and agents of their respective rights and responsibilities and raise awareness by tenants of their respective rights and responsibilities.

But if your property is managed by Dawsons, you need not worry assured the estate agent’s Lettings Director Ricky Purdy.

“As a market leading letting agent, Dawsons began to prepare for this change in January of 2015,” explained Ricky.

“We have ensured our already knowledgeable and experienced staff have attended the courses required by Rent Smart Wales, and have passed all follow up validation tests successfully.

“This requirement along with several others such as client money protection, and affiliation to a recognised redress scheme, mean that Dawsons will be among the very first licensed agents in Wales.

“As a result of our forward thinking and interaction, our managed landlords can rest assured their requirements, their tenants and of course property remains in safe hands.”

Ricky also assured landlords who manage their own property that Dawsons can help.

 Many self-managing landlords once aware of the requirements by Rent Smart Wales, will decide it the ideal time to approach a local and trusted letting agent for additional information.

“Taking this into account, we at Dawsons have prepared for this very eventuality, to either provide free supporting information and support, or begin the process of property management on their behalf, thus dealing with all of the licensing requirements,” added Ricky.

After the system comes into force the scheme will be policed by local authorities who are responsible for any necessary enforcement action against non-compliance.

These powers will be given to the authorities a year after the system comes into force to give time to those who must comply without fear of prosecution.

Any landlord who has a rental property in Wales which is rented on an assured, assured short hold or regulated tenancy is required to register.

Depending on how a property is owned will determine who needs to register it.  All registrations are done through Rent Smart Wales (rentsmartwales.gov.wales).

Landlords who do undertake letting and management tasks at their rental properties in Wales are required to apply for a licence.  Such landlords are often described as ‘self-managing’, once again license requirements the granting of a license are do through Rent Smart Wales.

For advice, and to discover the many benefits and services of being a Dawsons landlord, please contact one of their five dedicated offices.

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New Private Residential Law For Landlords & Agents

Landlords and agents are now required by law to be registered
or licenced. A new law has been introduced in Wales which applies to all landlords and agents of private residential property. If you own, rent out, manage and/or live in a rented property then this law WILL impact you.

Landlord Registration

Any landlord who has a rental property in Wales which is rented on an assured, assured short-hold or regulated tenancy is required to register. Depending on how a property is owned will determine who needs to register it. All registrations are done with Rent Smart Wales.

Landlord Licensing

Landlords who are not involved in setting up tenancies and
managing their rental properties do not need a licence; however they must use a licensed agent and register as a landlord declaring their agent on the registration. Landlords who do undertake letting and management tasks at their rental properties in Wales are
required to apply for a licence. Such landlords are often described as ‘self-managing’.

If your property is managed by Dawsons, you need NOT worry

As a market leading and engaged letting agent, we as Dawsons
began to prepare for this change in January of 2015. We have
ensured our already knowledgeable and experienced staff have
attended the additional courses required by Rent Smart Wales, and have passed all validation tests successfully. This requirement along with several others such as client money protection, and affiliation to a recognised redress scheme, mean that Dawsons will be amongst the very first licenced agents in Wales.

As a result of our forward thinking and interaction, our managed landlords can rest assured their requirements, their tenants and of course property remains in safe hands. Continued support, means we have also prepared a process to assist our landlords in the only part of this new law we as an agent are unable to do on their behalf.

This requirement of LANDLORD REGISTRATION, can be
completed on line or with the help of our staff at any of our offices. For further information on this, please visit or contact one of our rental offices when a member of staff will delighted to help.
Alternatively, visit rentsmartwales.gov.wales or request a paper
form to completed by calling 03000 133344.

Do you manage your own tenant? Don’t worry, Dawsons can help.

Many self managing landlords once aware of the requirements by Rent Smart Wales, will decide it the ideal time to approach a local and trusted letting agent for additional information. Taking this into account, we at Dawsons have prepared for this very eventuality, to either provide free supporting information and support, or begin the process of property management on their behalf, thus dealing with all of the licensing requirements.

For this advice, and to discover the many benefits and services of being a Dawsons landlord, please visit or call one of our 5 dedicated offices.

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How will the new EU regulations affect ‘accidental’ landlords in the UK

With many homeowners being left a property in an inheritance or forced to take out a mortgage to buy a second home because they are unable sell their original property, becoming a landlord accidentally is easily done.

Here the UK’s leading independent mortgage broker, Mortgage Advice Bureau, explores how the new EU regulations will affect ‘accidental landlords’ in the UK.

Accidental landlords have in recent years formed a significant proportion of the Private Rental Sector (PRS). Forced into the market since the 2008 recession, a higher than expected percentage now remain through choice.

Ricky Purdy, Director of Lettings at Swansea’s leading estate agent Dawsons, adds: “Financial restraints and commitments in recent years have in these cases eased, with financial benefits and returns from these properties meaning the continued letting is now the preferred option. Accidental landlords are now in many cases purposeful landlords within the PRS.”

Despite their transition from accidental to purposeful landlords, new EU regulations could reinstate pressures felt some years earlier.

“Those who find themselves inadvertently becoming landlords will have to pass new affordability tests – similar to those faced when applying for a residential mortgage. The changes are to be instigated by March 2016, and, similarly to the Mortgage Market Review (MMR), the new rules will see lenders assess both borrowers’ incomes and expenditure in much greater detail to ensure that they can afford a loan,” said David Treharne from Mortgage Advice Bureau.

As accidental landlords do not make a business decision to let their properties out and do it as a result of circumstance, the Government feels that borrowers should still be seen as consumers and need to be covered by an ‘appropriate framework’.

Out of the 1.6 million buy-to-let mortgages currently in existence, a fifth are accounted for by accidental landlords and last year 151,000 buy-to-let mortgages were taken out.

“Under current rules, buy-to-let mortgages do not follow the same regulations as residential mortgages and most are calculated in relation to the amount of rental income that is to be made from the property,” added David.

The EU laws were not originally going to affect the British mortgage market, however, the plans will now form part of the Mortgage Credit Directive (MCD) – a scheme that will be brought in at the same time as the EU regulations in March to regulate other loans that have homeowners’ properties as security.

“Under the new EU rules, affordability will be assessed and it could also mean that older homeowners may not be able to take out a buy-to-let mortgage as lenders often require borrowers to repay the whole loan back before they retire. It is important for those looking to move into the buy-to-let sector as landlords to seek advice from an independent adviser,” concluded David.

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Could letting out your property provide the extra income you need?

Whether you are new to the buy-to-let scene or an experienced landlord, fully understanding the ins and outs of buy-to-let mortgages is essential when managing your property portfolio. Here the UK’s leading independent mortgage broker, Mortgage Advice Bureau, offers the ultimate guide to letting out your property.

There are two main ways that buy-to-let properties can make you money. Capital growth is where the value of your property increases over a period of time, and while property value can increase, it is important to remember that it can also come back down as local house prices and market conditions fluctuate. The alternative way is via rental income, which is the amount of money that you receive from your tenant.

“It is not uncommon for someone to become a landlord accidentally. You may meet a new partner and move in with them whilst keeping your own to rent. You may have to move abroad to work but want to keep your home in the UK, or you may simply have difficulty selling your property. If this is the case, there are certain steps you should take when making the decision to turn your home into an investment,” said David Treharne from Mortgage Advice Bureau.

Telling your mortgage lender about your change in circumstances may sound simple, however, many would-be landlords overlook this. Your lender needs to give you formal ‘consent to let’ before you can let out your property, which may mean a higher buy-to-let interest rate. Whether you are opting for the most common form of tenancy, Assured Shorthold Tenancies (AST), or an alternative, failing to notify your lender will put you in breach of your mortgage agreement.

Telling your insurer is also integral to your success as a landlord. Your standard Buildings and Contents insurance policy will not cover you if the property is to be let out. Instead those looking to let their property should take out specific Landlord’s Insurance.

David added: “Seeking assistance from a letting agent is advised, and an experienced agent can help you set yourself up as a landlord or manage your property for a small fee. Your agent will be able to advise on buy-to-let mortgages, which operate in a very similar way to a residential mortgages. Despite having similar rates, fees and charges, a buy-to-let mortgage does have a few key differences.”

Mortgage interest rates for these types of mortgages tend to be higher than those for residential mortgages on your home, and the loan-to-value (LTV) is generally lower. Affordability is also assessed differently; whilst employment income, benefits and a combination of other sources are used to evaluate your ability to repay the loan, income is assessed as a percentage of your mortgage payment which is usually at least 125%.

“To explain, if your mortgage payment is £700, you would need to attain rent of at least £875. It is important to note that the rental value of your property would need to be confirmed by a surveyor.”

There are also different taxes with a buy-to-let mortgage, Stamp Duty has to be paid on a purchase of any property worth more than £125,000, but you may also have to pay Income Tax on the rent you receive and Capital Gains Tax when you come to sell the property. You must state your rental income on a Self-Assessment Tax Return but you can take off costs such as mortgage interest and letting agency fees from the rent before you declare your income.

Maintenance costs, annual safety checks, Landlord’s Insurance and Rent Insurance are all costs that need to be considered, even though they may not be taken into account by the mortgage lender.

“Landlords with more than one property should also seek independent advice as some lenders will only lend on properties valued above a certain level. Although this is usually around £40-50,000, there are some that specify minimum valuations at a level of £100,000 and above. Some also restrict the number of properties you can own or the maximum amount that they will lend to you in total,” concluded David.

For further information please contact David on 07501 720320 or email davidtr@mab.org.uk. Alternatively, please visit www.dawsonsproperty.co.uk

 

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Silver award winning estate agent set to say a big thank you to its workforce with company-wide celebration

After receiving the silver award for Wales Lettings Agency of the Year at The Lettings Agency of the Year Awards 2014, independent property expert Dawsons is set to host a celebratory evening for each and every member of its lettings workforce.

 

Dawsons attended a star-studded ceremony in London to collect the prestigious industry accolade. Run in association with The Sunday Times and The Times and sponsored by Zoopla Property Group, the team were joined by 500 other leading lettings agents at the glittering event, which was presented by best-selling international author, inspirational speaker, presenter and charity campaigner Katie Piper and renowned journalist, author and newsreader Penny Smith.

 

Ricky Purdy, Residential Lettings Director, said: “Being presented with the silver award was certainly a collective effort and I would like to thank the Dawsons team for their involvement. Through the rigorous judging process, which involved telephone interviews and mystery shopping exercises, our service shone.”

Residential Lettings Director Ricky Purdy with some of the Dawsons Staff
Residential Lettings Director Ricky Purdy with some of the Dawsons Staff

42 members of the Dawsons lettings team will be attending an evening celebration as part of the company’s ‘thank you’ for their hard work during the last 12 months. The windows of their branches have also been dressed to reflect their recent achievement.

“It’s a great achievement to receive the silver award for Wales Letting Agency of the Year, and rest assured we’re aiming for gold next year so watch this space!” concluded Ricky.

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Swansea estate agent welcomes new additions after jobs surge

Leading independent estate agent Dawsons has announced further jobs growth for the South West Wales area.

In the wake of receiving the silver award for Wales Lettings Agency of the Year at the prestigious Lettings Agency of the Year Awards 2014, Dawsons has welcomed several new additions to their team. Charlie Williams and Laura Waite have joined their Llanelli branch, whilst their Morriston branch welcomes Bernadette Howells to the team.

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The estate agent’s Marina office sees Catrin  Kingston join their growing team. The final addition is Stephen Cadmore, who will be based at Dawsons’ Mumbles branch.

“We’re delighted to welcome each and every new addition to the wider Dawsons family. As an independent estate agent we are passionate about providing opportunities within the local area and feel that the expertise offered by our new staff members will not only enhance our existing team but provide a better service to our residential and commercial clients,” said Ricky Purdy, Director of Residential Lettings at Dawsons.

The Dawsons team has grown significantly in recent years and now employs around 116 staff members. The firm is independently run by three individual partners, all of which use their 20 plus years of experience to guide the wider team. With branches in Swansea, Gorseinon, Killay, Llanelli, Mumbles, Morriston, Sketty and Swansea Marina, Dawsons attributes its wider success to its team’s experience, expertise and local knowledge.

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Ricky added: “After our recent success at The Lettings Agency of the Year Awards 2014 it seemed like the perfect time to expand our team and utilise experienced new employees across all of our branches. I would like to thank the staff at all of our branches and look forward to following the progress of the newest members of the team.”

 

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Leading independent estate agent receives national recognition after winning prestigious industry accolade

Dawsons has been named winner of the silver award for Wales Lettings Agency of the Year at The Lettings Agency of the Year Awards 2014.

Run in association with The Sunday Times and The Times and sponsored by Zoopla Property Group, the Dawsons team joined 500 other leading lettings agents in London to attend the star-studded ceremony.

Held at The Lancaster London Hotel overlooking Hyde Park, the ceremony saw best-selling international author, inspirational speaker, presenter and charity campaigner Katie Piper announce the winners of the coveted awards. Renowned journalist, author and newsreader Penny Smith also acted as compere.

Dawsons, winner of the silver award for Wales Lettings Agency of the Year, was delighted to receive the accolade. Ricky Purdy, Residential Lettings Director, added: “This award is a great achievement for Dawsons and all staff within the lettings department. This year’s competition was greater than ever with the panel of industry experts paying tribute to all winners being very much at the top of our industry.”

The awards ceremony marked the end of a rigorous and thorough judging process. A panel of 21 industry experts assessed initial entry submissions before conducting an extensive review of the entrants, which included over 12,000 minutes of telephone interviews and mystery shopping exercises. This process was overseen by The Property Ombudsman, Christopher Hamer.

Now running for over 10 years, these awards have become widely recognised as the most prestigious and difficult to win. The awards welcomed more entrants than ever before, nearly 6,000 offices were represented this year, but only the very best were crowned as winners.

“We have a wealth of experienced and knowledgeable staff within Dawsons that are deserving of this accolade and recognition. This award recognises their great efforts over the past 12 months,” concluded Ricky.