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. 

 

 

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.

 

Finding the right property is so important. You want to feel happy, content, and safe in the place you call home. And sometimes it’s not easy to find everything you're looking for under one roof.

A greater choice of properties
A good chat with your agent is always a great way to start your search. When all is said and done, it all starts with finding the right home for you. Agents often know about properties that are coming on the market before they are advertised. This means you can get an early notification on a property that could be ideally suited to you before it’s snapped up. And by telling your agent what you are looking for, they become another pair of eyes in your search. If you do all of this yourself, you may miss an opportunity, and agents are good at pointing out something you may have missed. Or opening your mind to a property that you may not have considered.

A friendly and supportive team
It’s good to have an ally when renting a home. Agents only use good, law-abiding landlords, and it’s a comforting feeling knowing that there is someone else on your side. Often with an entire team of people who have your best interests at heart. It means you never have to worry about getting in touch with your landlord; simply call or get in touch with your agent, who will have a dedicated team to take care of everything for you. From protecting your deposits, the health and safety of the property, and maintenance to understanding your rights and responsibilities, your agent will have your back.

Letting agents have to be compliant
Like so much in life today, there are lots of checks that need to be carried out. And using an agent ensures that all necessary checks on the property you want to rent have been carried out. From gas certificates to smoke alarms and references to your deposit, all other checks will be carried out to a high standard, so you don’t have any sleepless nights.

A good tenancy agreement
Knowing your rights is important and having them backed up with the right contract is imperative. Sometimes contracts can be confusing and cryptic. Good agents will explain your rights and make sure that your contract is in your best interests. And if you have any worries or concerns, they are just a phone call away.

Maintenance issues will be solved quickly
If your property is managed by your agent, then when it comes to repairs or emergencies, a good letting agent will most likely prevent these things from happening in the first place. But if unforeseen repairs come about, you can rely on them to take care of things for you instead of trying to get in touch with your landlord.

Agents keep up with trends and legislation
Not many things in life stay the same, and with the Renters Reform Bill on its way, understanding your rights has never been more important. It’s one thing to understand them, and it’s another to implement them. Agents are aware of constantly evolving legislation when it comes to energy efficiency as well as new trends, and all these things add to the quality of your life.

Accompanied viewings with an expert
Many good agents will accompany you on viewings, and this is the length to which agents will go to make you feel happy about your choice of property. You can explore your new home while asking as many questions as you like. This gives you a chance to get to know your potential new home in detail before making a decision. It’s this dedication to detail and personal service that, for many, makes a good agent a must-have.

 

Get in touch with our team of property experts today to see how we can help you find the best version of your home.

 

 

When decorating a rented property, there are many things you must bear in mind when making any dramatic changes, including getting the landlord’s permission. 
 
However, there are plenty of ways to add personality to the property without risking your deposit, including: 

  

 
Layering up 
 
Creating layers in a room is a great way to allow a home to feel lived in. 

 

By simply adding soft furnishings like cushions, blankets, curtains and rugs, you could make your rental feel a lot more like home.  

 

If you’re unsure where to start, find a major furnishing that catches your eye – such as a nice rug – and build from there using similar fabrics and colours. 

  

 
Investing in indoor plants 
 
Houseplants are a great way to brighten up a room. 

  

These are often inexpensive and require minimal to no effort. 

  

Even if you lack a green thumb, there are plenty of options such as using artificial plants that will require far less work to maintain! 

  

 
Letting loose on lighting 
 
If your rooms are lacking in natural light, opting for a well-positioned lamp can flood the area with some much-needed brightness. 

  

Light fixtures can be practical and stylish, with many energy-saving options available, such as LEDs to brighten your home and reduce the impact on your wallet and energy consumption. 

  

With many types of lighting available, it’s important you spend some time comparing to find the right “glow” for your home. 

  

 
Hanging artwork without the need for nails 
 
Having a home filled with personal photos on the walls is a great way to set the right atmosphere in your rental. 

  

By using damage-free picture hanging strips, which can be found in most DIY stores, you can avoid losing your deposit due to holes in the paintwork. 

 
 
Making the most out of your space 
 
Most of us wish we had more space in our house to fill with our personal belongings, so why not create it by investing in multifunctional furniture for your rooms? 

  

Not only are these practical but many options are also stylish, meaning you don’t have to compromise on the aesthetics of your home. 

  

From the garden to the bedroom, there are many ways to save space by creating a multi-purpose environment, such as a home office. 

 
 
For any advice on the services, we offer for tenants, get in touch today.