To say estate agents are busy would be an understatement. The unprecedented uplift in buyer demand over the past three months certainly bucks any notion of pandemic paralysis. Rightmove tells us that buyer enquiries are up 14% annually and sales agreed are just 5% below this time last year – which is pretty remarkable under the
Most people move house rarely and often have little idea of the etiquette required if the stress of moving is to be minimised. Our job as progressive letting agents is to help landlords and tenants minimise this stress by seeing the world through each other’s eyes and advising accordingly.
For example, landlords, especially those who
An unfair quirk in the law can leave landlords substantially out of pocket, as highlighted by the recent case of Cheryl Roux, the former wife of Michelin star chef Albert Roux.
A bogus tenant, introduced by a fake London letting agency, rented Mrs Roux’s £5m Knightsbridge property. That tenant then advertised the property to legitimate
When looking to rent a property, it is natural to want to see as many properties as possible before making the “right” choice and common sense dictates that you should view a handful of alternatives before deciding which to rent.
Our job as professional letting agents is to help tenants make decisions that are genuinely
We’re not surprised that house prices, according to the Halifax, rose 1.6% last month That’s nearly 20% per annum when annualised (but don’t do that)! The combination of at least three months of pent-up demand, coupled with stalling supply as people hunkered down during lockdown made such an increase inevitable, especially when compounded by the
Typically, most tenants will look at about half a dozen properties before making a decision as to which one they should rent. Some people look at just a couple, and others spend months considering each and every one of the dozens of properties that come on the market within their price range.
Even though many
As soon as the Brexit decision was “concluded” late last year, we were hit by the pandemic. Four years of uncertainty was condensed into a bottle neck of demand, which was then frustrated by three months of lockdown – and longer hair! But three months of hair growth does not require three haircuts – yet
Our last article considered the benefits of buying to let in principle. Here we consider some practical elements:
Attitude: Buying to let is a long-term investment. So don’t over-stretch yourself, because if you had to sell in the short term you would almost certainly lose money.
Choose well: Follow your head not your heart. Take
As pension funds shrink, many people consider the buy-to-let opportunity as a viable alternative, and with good reason. The effect of low interest rates and a historically rising property market make buy-to-let one of the most attractive investments accessible to the public. And the great thing is – you can use the bank’s money! The
Some landlords, especially those who are new to the experience, understandably wish to use a letting agent simply as a route to market in order to find a tenant. However, whilst a return on investment is one thing, sleeping well at night is quite another! A managed service is not just about chasing late rent,
Almost half the UK population own a pet, yet many landlords are reluctant to accept pets! According to research by The Dogs Trust, some 78% of pet owners reported that they had experienced difficulty finding rented accommodation that would accept pets.
However, if you are a landlord, agreeing to accept pets can help you maximise
Finally, after the pent-up frustrations of lockdown, we have some very good news to report:
Firstly, the Chancellor of the Exchequer, Rishi Sunak, has announced a substantial boost for the housing market with the raising of the SDLT (Stamp Duty) threshold from £125,000 to £500,000. This really is quite incredible and will save buyers up
Landlords often ask us what they should do about their garden and what they can reasonably expect of a tenant in terms of maintenance.
Having a well-cared for garden can definitely help to attract good tenants, particularly if they arrive on a sunny summer’s day. However, if the garden is just too magnificent and obviously
Immigration legislation means that all private landlords have to check that new tenants have the right to be in the UK before renting a property, although this responsibility can be given to your letting agent as part of a written agreement.
The penalties for ignoring the new legislation are severe. For the first time an
Superficially, lettings could be seen as relatively straightforward, and some firms do indeed regard themselves as a simple broking operation.
However, if your investment is going to provide you with peace of mind as well as a great return on investment, then you will want to know that the property is being managed by people
If you’re buying a second home, Buy to Let, or investment property, you should be aware that there is an additional 3% Stamp Duty Land Tax (SDLT) on top of the standard SDLT amount payable. Since this regime was introduced in 2016, the market for second homes has certainly felt the pinch, especially for buy
It might be tempting to believe that the pandemic has been destructive and all-consuming on all fronts, especially in relation to the property market, which virtually ground to a halt a few weeks ago.
But we British are a resilient lot! Our compliant “keep calm and carry on” mentality has meant that we have/continue to
Most lettings agents see their role solely as a “purveyor of tenants”, and they pride themselves on their ability to find the right tenant for a property and to negotiate attractive terms for the landlord.
But lettings agency has moved on. Indeed, finding a tenant is arguably one of the most straightforward aspects of letting
A recent survey of over 500 residential landlords reports that landlords are overwhelmingly satisfied with the service they receive from their letting agent and find them an invaluable resource. Some 92% of landlords reported a positive experience with their letting agent.
The market for lettings is of course relatively buoyant that the moment and agents
The housing market has been an obvious casualty of the Coronavirus lockdown. Yet the desire to move is strong, once the decision has been made. Indeed, as soon as the government announced that people could once again move house, Rightmove buyer enquiries doubled within 24 hours. They were even 4% higher than the same day
According to the Department of the Environment about half of all landlords have had cause to ask a tenant to leave on at least one occasion, usually because of arrears, noise, damage, violence, or abusive behaviour. Around thirty percent of these end up having to go to court.
When you let your property, you hope
Just as anyone can open up an estate agency, so they can also start up a lettings business, without any training, experience or qualifications. This should concern landlords, because there is far more to the business than meets the eye. In some ways, finding a tenant is the easy bit!
The issues arise over how
All residential tenancy deposits must by law be protected by being lodged in a government-recognised scheme, such as the Deposit Protection Service (DPS), which is evidence based. This means that the decision to either return or withhold a deposit at the end of a tenancy is made by considering any differences between the condition of
Apart from actually finding a tenant and agreeing the rent, the one headache about which many landlords are concerned is, “will the rent be paid – on time?” Many landlords have stretched themselves in order to purchase a buy-to-let investment and even one month’s rent in arrears can put strain on the finances as mortgage
For many homeowners, letting provides an obvious investment opportunity as an alternative to selling. With the right expert help from your letting agent, the matter should be quite straightforward, although there are certain consents that should be obtained if you are to avoid some potentially costly problems.
You will certainly need the consent of your
Why is it that tenanted properties appear to be damper than those that are owner-occupied? Firstly, we’re talking about condensation here, not rising damp. Condensation is caused when warm air, which holds more water vapour, meets a cold surface, forming water droplets. This may attract fungal growths such as Mildew leading that “that damp smell”.
The onus on landlords to provide energy efficient accommodation has once again stepped up a gear, now that part three of the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 has come fully into effect.
It is now (since 1st April 2020) illegal for landlords to continue to let a property, or grant
What a difference a month can make! Our March Market Comment was very positive and full of the joys of spring. Indeed, the Halifax subsequently reported that house prices were 2.1% higher at the end of March than they had been at the end of December 2019. The “Boris Bounce” was very much in evidence,
As the country gears up for the potential prospect of a pandemic, what are the implications for home movers and how are we, as estate agents, rising to our responsibilities?
The property market is currently enjoying renewed strength following years of Brexit doldrums, during which it proved highly resilient. Is it also immune to Coronavirus?
When letting your property, your primary objective is simple – you want to find a reliable tenant who pays the rent regularly and looks after your property as you would yourself.
The reality is usually more complex than this. Letting your property comes with legal obligations and social responsibilities, many of which are unknown to anyone
One of the greatest areas of dispute in lettings is the issue of deposits and the fair return of money at the end of a tenancy. An unscrupulous landlord could claim that minor damages justify the non-return of the deposit, which usually amounts to between four and six weeks’ rent.
However, tenancy deposit protection legislation
Building on the increase in January activity we reported last month, the local market has been just as frenetic during February with intense buyer activity continuing to play “catch-up” following years of mild depression.
According to the National Association of Estate Agents, there has been a 25% year-on-year rise in the number of active buyers,
You only get one chance to make a first impression! When it comes to letting your home, attention to detail could be pivotal in securing the best possible rent –quickly.
Most tenants have a good idea of their preferred location, minimum accommodation needs and ideal style of property. Yet it is often presentation that makes
When the time comes to let your property it is important to ensure that you entrust the sale to a reputable letting agent if the stress involved in finding a tenant, managing the property and maximising you investment is to be minimised.
However, the most successful lets tend to be those where the seller and