On behalf of our team at Town and Country Property Services, a very warm welcome to our Spring newsletter.
I hope you’re all keeping well, wherever you are in the world, and that our UK-based clients have been enjoying the very welcome, prolonged bursts of seasonal sunshine!
It’s been a busy start to 2025 – both locally and nationally – and we hope you find the following updates useful.
MARKET CONDITIONS
I’m pleased to report that the Brighton and Hove rental market is buoyant, and we have just four properties available for rent, at the time of writing.
This favourable position is down to competitive rent levels, striking the right balance between achieving the best price and a swift turnaround, along with sustained and effective marketing. Brighton and Hove also remains an ever-popular place to live.
NEW PURCHASE
As some of you are already aware, Town & Country Property Services are purchasing RDA, a company that we’ve worked with for more than 30 years from our shared office space at Church Road, Hove.
We are now liaising and completing the handover with RDA’s owner, Jean Shillinglaw, with whom we have a shared history, dating back over three decades. This started when Jean, and her late husband Brian, were establishing RDA and Andrew Boyle was setting up Town & Country.
Once the handover completes in July, I’m sure you’d like to join me in wishing Jean a long, happy and very well-deserved retirement. It’s been a real pleasure working with her, and the RDA team, over the years and we look forward to maintaining our shared excellent standards of customer service.
RENTAL REFORM
After years of uncertainty, the Renters’ Rights Bill is now making its way through the House of Lords, with Royal Assent expected by the summer.
This will allow the Secretary of State to set out the detail, and confirm dates for rollout.
We have included headline updates in our previous newsletters, focused on various changes, including abolition of Section 21 notices and moving to a streamlined tenancy structure, whereby all assured tenancies are periodic.
This will remove fixed tenancy terms of six or 12 months, with tenancies having no automatic end date and a minimum 12-month term.
Periodic tenancies will also mean that tenants will have to give two months’ notice. In contrast, landlords will have to give four months’ notice and specific grounds for possession will always be required.
Landlords will still be able to recover properties to either put homes up for sale/redevelopment or to allow them or a family member to move in.
TIMESCALES
These are still somewhat up in the air, but the Government stated that it will introduce the new private sector tenancy regulations in one stage, following what it describes as giving “sufficient notice”.
The new system will then apply to all private tenancies – both existing and those signed after that date. We will keep you updated as we learn more.
For more detailed breakdowns, please visit the Government website at Guide to the Renters’ Rights Bill – GOV.UK
CHANGES TO ENERGY PERFORMANCE ASSESSMENT
A Government consultation was due to close on May 2nd, regarding the future of Energy Performance Certificates (EPCs).
Currently, landlords can only let a property with an EPC level of E or above, unless a valid exemption certificate exists.
If agreed, the Government is proposing a new performance assessment, centred on various new metrics , such as fabric performance and heating system efficiency, rather than focusing purely on costs.
Pending the outcome of the consultation, all new tenancies are likely to have to meet the revised standards from 2028. By 2030, all rental property will need to comply, with a likely threshold of level C or above.
I remain sceptical that this timeline and rating will be adhered to as put simply speaking to local assessors they believe that as much as 75-80% of all of the properties both locally and nationally will not meet these levels regardless of the recommendations! As ever we will of course keep you updated.
LIKE TO FIND OUT MORE?
We will continue to update you regularly. In the meantime, please just pick up the phone or drop me a line.
Kind regards
Stephen Chipp
