Over the last several years there has been a generational change in attitude regarding buying a home and renting. Research suggests that there could be a considerable rise in homes that are available to rent. But will one in five households be renting next year? According to research in 2018,…
January 2020 – Peterborough Property Management & Lettings
We wish you all a Happy New Year and we hope January doesn’t feel too long……
Last year we wrote about the new legislation regarding electrical safety checks coming into force – you can see it here.
The time has come and they will be enforced this April.
The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 will require electrical installation inspections and testing are for new tenancies from April 2020 and on existing tenancies from April 2021. These will need to be renewed every 5 years by a qualified electrician with a report obtained which can be passed on to the tenant.
Although this is another cost to the landlord, we see this as good legislation. It will mean that every rental property will be deemed safe and safety of our tenants is a main priority. It will lower the chances of electrical repairs as they are being checked every 5 years and it will give peace of mind to landlords and tenants.
Our electrical contractors charge £120 + Vat for a 5 year electrical safety check. Our systems keep track of renewals so we are able to inform the landlord 6 weeks before any current certificate expires, giving ample time to arrange a new certificate.
Over 80% of our portfolio have valid electrical safety certificates. We knew this legislation was coming into force so we had a lot of our managed properties done ready. We will be working with our current landlords over the next few months to get their properties inspected and certified. We believe it is better to have them done early, rather than rushing about nearer the time and potentially risking any issues.
AGT will ensure that all of our fully managed and new lets comply with these regulations.
We have some big news coming on our next blog, we will be adding some massive value to our clients from March. Please look out for it – we are very excited about this.
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