This year is proof that life as a landlord is not as simple as it used to be. Reforms for tenants along with new laws and legislation will make it a bit more complex. That said the great news is that demand for rented properties is still extremely strong. There is a chance you could pick up a bargain as property prices slow. These changes help protect landlords and tenants so it should be another good year where standards across the industry rise.

 

Better protection for tenants

The renter's reform bill could become legislation this year if the government have their way. Giving more rights to tenants will also force unscrupulous landlords to up their game and stop cutting corners. This will raise standards and rights for renters and stop your properties to let potentially suffering from bad landlords undercutting you.

 

Higher capital gains tax

The tax-free allowance for landlords selling a property will be reduced significantly from April. This means you could pay more capital gains tax, so if you want to avoid it, and you are thinking of selling, better to sell sooner rather than later. There will be further cuts in 2024, meaning your tax relief when you decide to sell will be halved.

 

Buy-to-let mortgage rates

Mortgage rates while higher than they used to be, are now much more stable than last year. This means you can plan for the future once again and calculate costs more accurately.

 

Higher demand

In 2022 demand for rented accommodation was huge. This year demand is still very strong.  Fewer people can afford to buy due to the cost-of-living crises and the hike in interest rates. It’s expected that landlords will increase rents in order to cover costs but also to reflect the huge demand and get a better rental yield.

 

Add to your portfolio

With house prices levelling out and falling now is the time to add to your portfolio. Rental yields are good, and demand is very high. Some landlords will choose to sell, while savvy investors will seek new properties to develop as buy-to-let businesses. Asking prices are much more open to lower offers than last year so you might just acquire something that before was not as good as an investment.

 

Financial help for energy efficiency upgrades

Landlords who meet certain criteria might be eligible for government assistance with £1bn to help homeowners to insulate their properties. The aim is to improve energy efficiency which will help landlords with providing energy-efficient, appealing homes.

 

Outlook

There is a lot going on in 2023, and if you are a landlord you are most likely to incur more costs. With rental demand growing now is the time to invest while providing great places to live for tenants. As the industry becomes more regulated, standards rise in so many ways, elevating the industry and creating a more stable investment prospect.

 

Tennant demand has never been better. Browse our properties.

 

Emergency property issues aren’t good for tenants or landlords, and the best way to safeguard against these potential nightmares is to take preventative measures before they arise. Then you can sleep soundly at night in the knowledge that you have done everything you can to drastically decrease the odds of a costly, dangerous, or life-threatening emergency. 

 

Carry out these safety checks regularly 

 

Gas: A Gas Safety Certificate is a legal annual requirement. It's perhaps the most obvious and well-known of all home safety certificates, but it's less known that it applies to all gas appliances, not just your gas boiler. 

 

Electrical: All fixed electrical appliances need to be inspected and tested every five years by a qualified electrician. 

 

Don’t forget the fuse box: If you are letting your property, you might find that the existing fuse box is obsolete and does not meet current safety standards, so it's best to check this with a qualified electrician. 

 

Smoke alarms: It's not expensive, and it's a legal requirement that there's one installed on every floor. The potential damage caused without them can be catastrophic, cause death, and if fitted and not correctly maintained, can affect insurance coverage. A carbon monoxide alarm should be installed in every room which is used as living accommodation containing a fixed combustion appliance (excluding gas cookers).

  

Plumbing 

 

Drains: Blocked drains cause flooding, which in some cases leads to costly repairs and uninhabitable homes. Prevention is simple – all you need is a bottle of drain cleaner, which you can buy from any supermarket. 

 

Pipes: Insulating pipes is another inexpensive way to prevent a potentially hugely costly disaster. In winter, pipes contract in the cold and then heat up once in use. This repeated process can cause them to crack, leading to an even bigger leakage of money! 

  

Regular inspections 

It’s always a wise move to have a clause in your tenancy agreement that, with written permission requested, you can inspect your rental property within 24 to 48 hours. You can’t legally enter the property without the permission of the tenant, and this allows you to regularly check the state of your property should you feel the need to do so. 

  

Landlord insurance  

Differing greatly from conventional house insurance, a private residence policy will not cover you if you let your property. A good landlord insurance policy is worth every penny in the face of devastating risk; it covers damage, loss of rent, and legal expenses, plus almost anything else you feel could be a risk. A good conversation with a reputable insurance company is time well spent in order to find the right level of cover to protect your investment property. 

  

Make it happen 

Taking these measures now will keep your rental property safe and keep you informed of any maintenance or repair issues that may be on the horizon before they become major issues, so in terms of investment, they are no brainers! The good news is that all of this can be carried out by professionals, from insurance brokers, gas engineers to electricians. Getting in touch now with the right people won’t take long and could save you a lot of money! 

  

Need help finding the right tenants for your property? Contact us today. 

 

 

This time of year, has a lot going for it: Easter, lots of chocolate, spring flowers, warmer weather, and if you are on the move, April is the best time to sell your home. In fact, March, April, May, and June are the most popular months for making a swift move, with the average home taking less time to sell.

More people move in the spring
More UK property transactions are completed in the spring than at any other time of the year, and it’s a pattern that repeats itself year after year!

For example, in March 2022, the number of property transactions completed in the UK peaked at 111,680; in April, it was 107,100; and in May, the figure stood at 106,860.*

A good year
Conditions were a little bumpy towards the end of last year. The minibudget that caused an air of uncertainty has been replaced by a fresh spring breeze of stability. Sellers and buyers who delayed moving are returning to the market. More sellers mean more choice. Traditionally, the market warms up at this time of year, but with the added element of pent-up demand and a more calm and realistic market, it promises to be a good year.

Strong demand with a stable 2023 market
The average price of property coming to the market rose by just £14 (+0.0%) from January to February to £362,452.** This is a decent and stable figure, and with demand still very strong, the market is now conducting itself in a manner that is healthy and vibrant. However, you no longer need to race to your dream home and offer more than the asking price! If anything, there may be scope for a little negotiation.

Inspiring and beautiful homes
With wildlife coming on strong and flowers sprouting up to witness the longer evenings, spring lends itself well to moving. It’s easier weather for all the practical parts of moving, and homes with all this splendour going on just look better. Many will have enjoyed a good spring cleaning now that winter is over. Home improvements occupied many homeowners during the lockdown, so whether your budget is large or more modest, chances are you are in for inspiring viewings. Outdoor living spaces, work-from-home spaces, and interesting gardens are ripe for your ideas just in time for summer.

Summary: Springtime is the right time!
With so many beautiful homes looking good at this time of year and a buoyant market with some fresh pent-up demand, house prices are no longer rocketing out of control. Warmer, longer days and lighter evenings bring more homeowners out of hibernation, adding vibrancy and more choice to the property market. With no snow or cold to deal with while hopefully finishing in time to enjoy the summer. It’s little wonder that so many homeowners choose spring to move.

Perhaps we are no different from the returning spring wildlife. The season of change ushers us into a changing mood, but the motives, like many other natural laws, are highly practical and advantageous.

Spring your property move into life now!

Browse our available properties, then book a free valuation with one of our expert agents.

 

Office for National Statistics*
Rightmove**

 

April is so much more than just a pretty month to go house hunting. International Pillow Fight Day takes place at this time of year, but wouldn’t you rather wake up in the home of your dreams?

Create a wish list
If you are going to do it, you might as well do it properly. Buying a home is a big decision, and buying your dream home is perhaps a once-in-a-lifetime event. Don’t be afraid to make a list of all that you want in your ideal home, as it's going to take careful planning. The details are important, so break it down into sections, from the kitchen to the sunset. You may find your home is not complete. But as long as you can create your vision at some point in the future, then you are on the right track.

The houses
The UK property market offers a rich and diverse selection of homes to inspire you. From Tudor cottages and Victorian townhouses to modern, eco-friendly, state-of-the-art green homes. Maybe you are looking for a project and want to transform classical architecture into something extraordinarily modern. It’s important to keep an open mind, as the possibilities are endless. Whether your dream is compact living in a modern flat or modern living in a suburban setting, property dreams come in all shapes and sizes.

The market
This time of year is ideal for searching for your dream home. More houses appear on the market, bringing more choice, and the property market becomes a hive of activity as home movers enjoy the perfect selling and buying climate.

In April to January 2022-2023, UK residential transactions stood at 1,029,580; in 2017 to 2018 for the same period, they were strong at 1,015,570; and in 2015 to 2016, they were 1,042,200. * These figures suggest that the housing market remains strong, healthy, and, above all else, consistent.

Enjoy the viewings
Entering your dream home will probably make a good first impression. It may take you a little bit of searching to find what you are looking for. So don’t be afraid to get out there and explore. This will give you plenty of ideas and help you discover what you are looking for.

Discover your style
Consider what interior spaces and designs make you most happy. Are you a traditionalist? Do you have a passion for wood? Or are you a minimalist who pays respect to classical features? Do you want to create a multiplicity of styles?

Consider your needs
It might be your dream home, but you still might want to consider practical elements. Think about all the members of your family, the local community, your long-term plans and goals, and your vision of a lifestyle.

Think big and be brave!
Don’t be afraid to let your imagination run wild. Stick to your vision while keeping an open mind. There are many ways to create your ideal home over time. Sometimes these challenges will inspire a solution that turns out better than your original vision and you create a home that surpasses your dreams.

Finally
You can sleep in the home of your dreams after all the big decisions have been made, and now all you have to do is live the dream.

Wake up in your dream home and live the property dream this year!

Start the search now by browsing the available properties we have on our website.

 

GOV.UK*

 

There is no doubt that we live in a wonderful age where pretty much everything we want is at our fingertips, and there is nothing you can’t get delivered to your front door. You can spend night after night scrolling through Rightmove and Zoopla searching for your dream home, and while it’s possible to buy a home completely online, just because you can does not mean you should.

Virtual viewings are an awesome introduction to a property. If you already know the area and you are simply looking for a great flat to let, then perhaps you will never need to carry out a physical viewing. They are a great way to dream and check out all the homes you know you can't afford to buy!

But there is no substitute for the sensory adventure that begins as soon as you see the home you want. It’s the difference between dreams and reality.

Sensory Experience
Yes, buying a new home is a big decision, but it is also an exciting and adventurous feast for all your senses. Entering a property that feels like home is a unique and amazing feeling to savour. There is no substitute for the tactile world of wood and stone and the visual feast that will greet you and witness some of your most precious memories. The scents of the garden, the vision of your new life, the plans for decoration—that special feeling you get that you can't explain yet for some reason you know it’s home.

Valuable experience
Let’s not overlook the obvious. Agents sell homes for a living and are a great ally. Drawing on years of experience to guide you and point out things you may not notice after having absorbed your requirements and desires. It’s a comforting feeling knowing you have an expert on your team.

Do you really want to deal with buyers directly?
Your time is precious, and agents can liaise with buyers for you. It’s also a good thing to have an experienced person dealing with offers from buyers who may make a few cheeky offers!

Checking out the neighbourhood
It’s important to get to know the neighbourhood and surrounding areas. You want to make the right decision and enjoy the peace of mind and fulfilment that come with loving where you live.

Test your agent
A face-to-face viewing or valuation with your agent not only gives you the chance to test out how you feel about certain properties but also to get a thorough valuation. It’s a chance to see your agent in action and become inspired, informed, and gain from their knowledge. A good agent will get on board with your vision for moving and help you achieve your property goals.

Expertise and another pair of eyes
A good estate agent will not try to force a sale during a viewing. After all, it’s your decision.

Simply having another pair of eyes and another perspective and answering all your questions face-to-face while you can walk through the property is more convenient. This will guide you towards making the decision that makes you happy.

Local market knowledge
Your estate agent will have lots of local market knowledge and may already have moved people in and out of your new neighbourhood. So take advantage of this and use it to take the stress out of your decision.

Browse our available properties and allow us to help all your property dreams come true.