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. 

 

 

Looking for a new home to rent is exciting! There is no substitute for seeing your new home in person; you can only glean so much online. For many, it’s that feeling that you have found that special place you want to call home. How it looks and feels is perhaps the biggest part of your moving story, and no matter how much you like your newfound home, you will have many questions that need to be answered before you make your move. Otherwise, they will niggle away at the back of your mind. So here's a few questions you might want to ask so you know where you stand. Then all you have to do is enjoy your new home.

How much of a deposit do I need?
The chances are you will know the answer to this question already, along with the cost of renting the property, but it’s always best to check!

If there is an issue, who do I contact?
Knowing that there is someone to call if there is an emergency, a maintenance problem, or any question you may have will give you peace of mind. Many landlords choose to let their properties through a letting agent. This is ideal, as you will have a friendly and helpful face you can contact. So save your point of contact on your phone, and you'll know help is always just a press of a button away.

Can I decorate?
Being happy in your home is important, and decorating or simply adding those personal touches that help you feel content and settled makes a big difference to the quality of your life. Some landlords are more open to decorating, and you will want to know where the line is drawn when it comes to what you can and can’t do so you don’t risk losing your deposit.

Who is responsible for the garden?
The same goes for the garden; most landlords will want you to keep on top of the garden simply by keeping it tidy. But this is not always the case. If you want to make it your own by adding a barbeque, fire pit, flower beds, or furniture, you may need to ask beforehand. It may be that your new home already has some of these items in place.

What bills do I pay?
This might be the first question you ask, and even if bills are included, you need to know exactly what you are responsible for. For example, you might have to pay for broadband. And budgeting your monthly outgoings is important for your financial planning, and it’s most likely that you will have to pay council tax, so you will need to know the cost of this before you move in.

Is it okay to switch energy suppliers?
The good news here is that if you pay your energy bills, you are entitled to switch suppliers. You may find a better deal.

What is the energy performance certificate rating?
When it comes to paying the bills, you want your new home to be as energy efficient as possible, so this is worth asking. The same goes for any appliances in the property.

What alarms are fitted to the property?
Don’t be shy when asking about all necessary alarms, such as carbon monoxide or smoke alarms, which are a legal requirement; ask for the accompanying safety certificates for annual checks.

Can I keep pets?
If you have a furry friend, you might need to provide proof of vaccination, but the good news is that landlords can no longer enforce blanket bans on pets, but they can say no to your pet if they have a good reason.

What else do I need to know?
You may have many other questions, so don’t forget to ask your friendly agent, who will always be more than happy to help.

Looking for a new place to call home? Get in touch with our friendly and approachable team today, who will make your home move happy.

 

It’s a great time to rent! Beautiful properties can’t help but make you feel good. And with more rights for tenants than ever before and so many of us becoming more environmentally aware, you want to feel good about doing your bit for the planet while saving a few pounds on your monthly outgoings. So here are a few tips to do just that!

• Switch energy suppliers: If you pay the bills in your rented property, you are entitled to change energy suppliers. If you can find a cheaper deal, go for it. Certain energy suppliers can help reduce your carbon footprint and could save you money.
• Energy-efficient appliances: Perhaps you own certain appliances in your rented property. By choosing more energy-efficient products, you can save money. The higher the rating, the more you will save. If appliances need to be replaced by your landlord, request appliances graded A or B.
• LED bulbs and solar lighting for the garden: Sometimes it’s the cumulative effect of lots of little things that makes a big difference. LED light bulbs and lights are far more efficient than standard bulbs and will last for years.
• Shower head: Costing about £20 and easy to swap for an older, less efficient shower head, you could request that you swap an older shower head and save on your water bill.
  
  

Getting into good habits

• Keep radiators clear: Blocking radiators can drastically reduce the heat they produce. Consider moving the couch if it’s blocking your radiator, and then you will not need to turn the heat on so much.
• Draught excluders: Not particularly expensive, and as soft furnishing, you are adding a personal touch to your rooms. You could be amazed at how much heat they could retain as heat escapes underneath your doors.
• Save water: Install a water metre or simply save water where you can. Install a water butt and collect rainwater when it comes to nurturing your plants, flowers, and trees.
• Blackout curtains: These don’t just make for a great night’s sleep by blocking out light; they also keep the heat in.
• Rugs: A nice rug will not only look nice but also add an extra layer of insulation to the floor, particularly on laminate flooring.

Green choices

• Recycle: Make sure you recycle as much as possible. Simply putting plastics and recyclables in the correct bins makes a big difference to our beautiful planet.
• Make your own furniture: Instead of buying new furniture, save some money and restore old furniture. This is on trend, and in most cases, you can buy some real bargains online, then paint and refinish them in non-traditional colours while adding real style to your home.
• Use less chemicals: By using cleaning products that are not as chemical-heavy, you may save money because you can substitute them for products that may already be sitting in your larder, like white vinegar!
• Talk to your landlord Many landlords are interested in making their rental properties greener, so don’t be afraid to ask! It’s in their interest to improve insulation, fit smart metres, use better lighting, use energy-efficient appliances, and anything else you may think of.

 

Browse our properties to find your perfect place to rent, or get in touch with our friendly team to see how we can help.

 

It’s a great time to rent! Beautiful properties can’t help but make you feel good. And with more rights for tenants than ever before and so many of us becoming more environmentally aware, you want to feel good about doing your bit for the planet while saving a few pounds on your monthly outgoings. So here are a few tips to do just that!

• Switch energy suppliers: If you pay the bills in your rented property, you are entitled to change energy suppliers. If you can find a cheaper deal, go for it. Certain energy suppliers can help reduce your carbon footprint and could save you money.
• Energy-efficient appliances: Perhaps you own certain appliances in your rented property. By choosing more energy-efficient products, you can save money. The higher the rating, the more you will save. If appliances need to be replaced by your landlord, request appliances graded A or B.
• LED bulbs and solar lighting for the garden: Sometimes it’s the cumulative effect of lots of little things that makes a big difference. LED light bulbs and lights are far more efficient than standard bulbs and will last for years.
• Shower head: Costing about £20 and easy to swap for an older, less efficient shower head, you could request that you swap an older shower head and save on your water bill.
  
  

Getting into good habits

• Keep radiators clear: Blocking radiators can drastically reduce the heat they produce. Consider moving the couch if it’s blocking your radiator, and then you will not need to turn the heat on so much.
• Draught excluders: Not particularly expensive, and as soft furnishing, you are adding a personal touch to your rooms. You could be amazed at how much heat they could retain as heat escapes underneath your doors.
• Save water: Install a water metre or simply save water where you can. Install a water butt and collect rainwater when it comes to nurturing your plants, flowers, and trees.
• Blackout curtains: These don’t just make for a great night’s sleep by blocking out light; they also keep the heat in.
• Rugs: A nice rug will not only look nice but also add an extra layer of insulation to the floor, particularly on laminate flooring.

Green choices

• Recycle: Make sure you recycle as much as possible. Simply putting plastics and recyclables in the correct bins makes a big difference to our beautiful planet.
• Make your own furniture: Instead of buying new furniture, save some money and restore old furniture. This is on trend, and in most cases, you can buy some real bargains online, then paint and refinish them in non-traditional colours while adding real style to your home.
• Use less chemicals: By using cleaning products that are not as chemical-heavy, you may save money because you can substitute them for products that may already be sitting in your larder, like white vinegar!
• Talk to your landlord Many landlords are interested in making their rental properties greener, so don’t be afraid to ask! It’s in their interest to improve insulation, fit smart metres, use better lighting, use energy-efficient appliances, and anything else you may think of.

 

Browse our properties to find your perfect place to rent, or get in touch with our friendly team to see how we can help.