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July 2020 Market Comment

July 2020 Market Comment

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

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Tenants Garden

The Tenant’s Garden

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

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Right to Rent

Right to Rent

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

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Upbeat Rentas

Upbeat Rentals

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

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Stamp Duty

Stamp Duty on Investment Property

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

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June Market Comment

June 2020 – Market Comment

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

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meaning of service

The Meaning of Service

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

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Happy Landlords

Happy Landlords!

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

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Landlords Blog Posts 1

Landlords Beware!

Smart investors are keen to snap up bargains, and the buy to let market remains surprisingly active. However, whilst it is tempting to go out and buy, buy, buy – a word of caution, because it might not be so easy to let, let, let.

Finding a tenant is only one aspect of the venture which

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Landlords Blog Posts 2

May 2020 – Market Comment

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

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problem tenant

A Problem Tenant?

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

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getting_rentals_right

Getting Rentals Right

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

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inventory

A Proper Inventory

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

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rent arrears

Rent Arrears

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

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Landlords Blog Posts 3

Consent To Let

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

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Condensation

Condensation

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”.

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New EPC Landlord Regs

New EPC Landlord Regs

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

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April 2020 Market Comment

April 2020 Market Comment | Herne Bay & Whitstable

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,

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