The rental market is highly lucrative and full of opportunity, with soaring demand and lists of people looking to rent. As a landlord, you are set to gain a good return on investment; it’s just a bit more complex than it used to be.

Not conducting tenant screening
It’s vital to carry out the right background checks. The last thing you need is to place a tenant who is problematic when it comes to damage to your property or paying rent. Credit checks and references are good ways to ensure you are letting your property to the right tenants.

Not keeping on top of maintenance
It’s imperative to keep on top of your property. Small issues can very quickly become expensive problems if not dealt with quickly. If tenants live happily in a well-maintained property, then this reduces the risk of accidents, claims, or losses in revenue if your tenant decides to leave.

Not conducting inspections
A great way to prevent expensive repairs is to conduct regular inspections of the property. This will help you identify any potential problems before they become repairs. It's vital that you give your tenants at least 24 hours' notice before conducting viewings. It’s less about checking up on tenants and more about keeping your property in good condition.

Neglecting legal obligations
From the right safety checks to the correct level of insurance, there is a lot to remember. Having the right tenancy agreement is also vital, and you don’t want to skim over the details of this. It’s important to define the cost of rent and what it covers to notice periods. It’s also important to maintain records of rent payments, and while some things may not be a legal requirement, they can help your case if legal disputes arise.

Incorrect pricing
When deciding how much rent to charge, it’s important to strike the right balance. You don’t want to charge too much, which could lead to your property being vacant. On the other hand, you must factor in your maintenance costs and the area where your property is located.

Not using a letting agent
A letting agent can take care of as much or as little of all these processes for you, which helps protect your investment and ensures your rights as a landlord are protected. Managing your own buy-to-let property is a time-consuming business. But more than that, you don't want to get caught out or increase your costs due to poor management.

Contact us today to find your buy-to-let property

 

Buyer demand in July was 3% higher than in 2019, but the number of available properties for sale was 12% lower than the same period in 2019.* This means that your home is in demand. While there is a healthier choice of properties than in recent years, demand still exceeds supply.

The housing crisis
There is a backlog of 4.3 million homes that are missing from the national housing market because they were never built.** With so much talk of high interest rates and the cost of living, it’s easy to forget that the housing crisis has not gone away.

Some good news about inflation
Inflation is finally falling, as it dropped to 7.9% in the year to June.*** This is the lowest level for over a year and will impact the base rate, meaning lower mortgage interest rates should follow. As this happens, the property market will revitalise, but without the sudden upsurges of the past.

First-time buyer homes
The national average asking price for these types of homes decreased by -0.4% from June to July, with an annual change of +0.3%.* The demand for first-time buyer-type properties is high, with many people still managing to get a footing on the ladder despite all the challenges. The mortgage guarantee scheme, which ends in December, has helped, as has a competitive range of mortgages from high-street lenders.

Second-steppers homes
The national average asking price for these types of homes decreased by -0.5% from June to July, with an annual change of +0.6%.* With many home movers getting a good price for their first-time buyer-type homes, they are taking advantage of good levels of equity and moving to something bigger. Whether it’s a house in the suburbs or a townhouse, the figures show that these types of houses have increased in value over the past year.

Homes at the top of the ladder
The national average asking price for these types of homes decreased by -0.1% from June to July, with an annual change of +0.8%.* Homes at this end of the market had not been quite as buoyant in terms of sales as those in the first-time buyer market. However, overall, as with all house types, the value of these types of properties looks healthy on an annual basis.

Spend some time with your agent
It’s easy to listen to the news or look at average house prices and arrive at the wrong conclusion. Agents know your local market intimately. Better still, they have the right approach when it comes to pricing your home at the correct level. Properties that need a reduction in asking price are 10% less likely to find a buyer compared to a property that was priced correctly in the first place.* Your situation will differ from that of the next person. You may have high levels of equity in your home, but even if you don't, agents today can put you in touch with mortgage providers and advisors who will create a solution that is right for you.

Get in touch today for advice on all aspects of your move

Rightmove*
centreforcities**
Office for National Statistics***

 

There is nothing better than good news, and while the UK property market is resilient with plenty of buyer demand and many home movers getting on with finding their dream homes. There is much to feel positive about thanks to lowering inflation and falling mortgage interest rates.

Falling mortgage interest rates
Mortgage interest rates are finally falling as the rate of inflation slowed to 7.9% in the 12 months to June.* This means that two and five-year fixed-interest rate deals have been reduced. According to Moneyfacts, the average two-year fixed interest rate deal fell from 6.81% to 6.79% in July.** While this is not a significant reduction, it is a good sign of things to come. With inflation now at its lowest level for more than a year. Many analysts now expect the Bank of England not to raise the base rate by quite as much due to slowing inflation.

Cost of living support
More good news is that lenders are now offering you the chance to extend the term of your mortgage or pay interest only for up to six months. This gives you a breather and will reduce your monthly outgoings. This was instigated by the government and aims to help people who are feeling the pinch of high interest rates.

First-time buyers
The Mortgage Guarantee Scheme was extended until the end of December 2023. The government-backed scheme has helped over 24,000 households get on the property ladder.*** Its aim is to help people with a 5% deposit, and it was launched in April 2021.

Aimed at first-time buyers, it’s similar to the government’s Help to Buy scheme, which ended earlier this year. So, you still have time to take advantage of it.

Increase the term of your mortgage
With mortgage providers now offering longer-term mortgage deals, in some cases up to 35-year terms, you can get on the move now as your mortgage will be more affordable. This could also be a short-term solution to buying the home you want now, as there is nothing to stop you from getting a new deal in a few years.

Have you considered porting your mortgage?
If you are currently locked into a favourable fixed interest rate deal but really want to move home, then porting your mortgage is the perfect solution. Some lenders will allow you to keep your existing mortgage to buy your new property. So, you can move home without changing your mortgage.

Talk to an expert
Your agent will put you in touch with a mortgage advisor who will be able to find a solution that works best for you. In June 2023, there were 5,000 mortgage products available on the market.****

Whether you are a first-time buyer, have a lot of equity in your home, or are downsizing and want to invest in a second property, there are many ways to go about financing a home you can cherish.

Get in touch with our dedicated team today to discuss your property aspirations

 

BBC*
Moneyfacts**
GOV.UK***
Zoopla****

 

Being a tenant has a lot of advantages. In the UK, 36% of households rent, 35% of households own their house outright, and 30% of households are mortgage holders.* This technically means that the UK is now a nation of renters. It’s a good time to look at some of the great reasons to rent in the UK.

It’s easier to move
Once you find your perfect place, it’s relatively easy to make your move. With no selling or buying involved, you have a lot more flexibility to find something bigger or somewhere in a different location with speed and convenience, and your agent will take care of everything for you.

Fewer financial commitments
With an initial deposit for a rented property being a fraction of the amount needed for a deposit for a mortgage, you are already saving before you move in. Then, if there are any maintenance issues, you are not liable for the costs. You may find that bills are included in your rent, and this allows you to budget for the more fun things in life.

Less responsibility
With less responsibility for repairs, all you will most likely need to do if something needs fixing is call your agent, who will have a dedicated maintenance team. This, combined with a lower financial commitment and the legal responsibilities of home ownership, means you are not tied down.

You don’t have to worry about rising interest rates
Many homeowners are currently worried about increasing interest rates and paying their mortgages in the current cost-of-living crisis. When you rent, you don’t have to think about this, nor will you need to borrow or become tied down with a mortgage.

Social opportunities
Whether you are renting in the suburbs or a city apartment, because of the ease of moving, you can find a place near the social scene or amenities that most interest you. Whether you are addicted to travelling and want proximity to the airport, or you simply want to be near a decent gym, living close to good restaurants and bars will save you time and add to the quality of your life.

You can focus on other investments and goals
With fewer financial commitments, you could choose to invest in the stock exchange or perhaps properties in locations that are more affordable. You may have a retirement plan, a hobby, or a business you would rather develop. Perhaps you have other passions you want to pursue.

Greater freedom to explore
If you are developing your career and, as a result, may move abroad or change your job roles regularly and don't want the financial commitment of a mortgage, then renting can be the perfect solution. Renting also allows you to explore different living arrangements, from sharing to city life and then, in no time at all, country living.

Try out different properties
There are so many different property types you can enjoy renting. From a flat in the city to luxury homes, humble terraced homes to rural retreats. Whatever you are looking for, from a quaint village to a place in the leafy suburbs, it’s always worth talking to a good agent to help you in your search.

Contact us today to discuss your rental requirements

 

English Housing Survey*

Start early with a clear plan
The key to a smooth move is preparation. Start by creating a timeline of everything that needs to be done leading up to the big day. Break down tasks into manageable chunks, such as packing one room per day, arranging for utilities to be turned off and on, and booking your moving company well in advance. This will help prevent last-minute stress and keep you on track as the moving date approaches.

Create a detailed moving checklist
One of the best ways to stay organised is with a moving checklist. List out everything you need to do before, during, and after the move. This includes sorting and packing, notifying change of address, confirming the moving company, and setting up your new home. A checklist ensures nothing gets overlooked and helps you keep track of the progress.

Declutter and sort ahead of time
Before you even begin packing, take the opportunity to declutter. Go through your items and decide what you really need to take with you. Donate, sell, or discard anything you no longer use. The less you have to pack, the easier and faster the moving process will be. This also ensures you only bring what you truly need into your new space.

Pack strategically, not all at once
Packing can seem overwhelming if you try to do it all at once. Instead, start early and pack a little bit each day. Begin with non-essential items like seasonal clothing, decorations, and books, and work your way to everyday items as the move date gets closer. Label boxes by room and include a brief description of the contents so unpacking is easier. This way, when the day comes, you’ll feel more in control.

Keep essentials easily accessible
Prepare a "moving day essentials" box or bag with everything you’ll need right away. This might include toiletries, a change of clothes, important documents, chargers, and any medication. Make sure this box is easy to find on moving day, so you’re not scrambling for these items once you arrive at your new place.

Stay flexible and calm
Moving day rarely goes perfectly, and that's okay. Expect some unexpected hiccups along the way whether it’s delays with the moving company or last-minute packing adjustments. Stay calm and flexible, and remember that it’s all part of the process. If something goes wrong, don’t stress - focus on solving the issue and moving forward.

Take breaks and care for yourself
It’s easy to get caught up in the chaos of moving, but don’t forget to take breaks. Moving is physically demanding, so make sure to drink plenty of water, eat well, and rest when needed. If you’re feeling overwhelmed, take a step back, breathe, and remember that you’re almost there.

Get help when needed
Don’t try to do everything yourself. Ask friends or family to help with packing or moving, or consider hiring professional movers for an extra level of support. The more help you have, the smoother the process will be and you’ll be able to focus on what’s most important: settling into your new home.

Stay focused on the end goal
Finally, keep in mind why you’re going through all this effort: to start fresh in a new home. Embrace the excitement and possibilities that come with your move, and remember that it’s all worth it for the new chapter you’re about to begin.

 

The power of a warm welcome
The first impression a tenant has when entering a property can make all the difference. Creating a warm, welcoming atmosphere sets the tone for their entire experience. Simple finishing touches, like a freshly painted front door, a doormat, and a welcoming hallway, can make the property feel like home from the moment they step inside. Tenants are more likely to return to a place that feels inviting and thoughtfully presented.

Cleanliness is essential
A property that is sparkling clean is one tenants will remember fondly and is more likely to attract repeat renters. Cleanliness doesn’t just mean tidy surfaces; it’s about deep cleaning the floors, carpets, windows, and appliances. A well-maintained, spotless home gives tenants the assurance that the landlord takes pride in the property and cares about their comfort. Clean homes create positive associations and can make tenants feel valued, encouraging them to stay longer or return in the future.

Functional and stylish finishes
It’s the little details, like modern light fixtures, fresh cabinetry handles, or stylish taps, that create a polished look and feel. Functional finishes, such as updated appliances or easy-to-use heating systems, are just as important. Tenants appreciate properties that have been well-maintained and thoughtfully updated, as these touches make their day-to-day living experience more enjoyable. They’ll remember a property with convenient features that work well and look good.

A comfortable atmosphere
Comfort is key when creating a space that tenants will love and remember. Adding soft furnishings like throw pillows, rugs, and warm blankets can transform a space, making it feel more homely and inviting. Tenants value comfort in a rental property, and those extra touches that make the space feel cosy will stick in their minds. A comfy lounge area with cushions and soft lighting, or a bedroom with soft linens and warm lighting, can make a big difference in how they feel about the space.

A personal touch in shared spaces
While tenants may not be able to personalise every corner of a rental property, adding a few personal touches to shared areas can make a big impact. A well-chosen piece of artwork in the living room, a stylish vase, or a decorative plant can add character to a space without overwhelming it. These personal touches show tenants that the property is not just a place to live, but a home. This extra effort can help create a connection with tenants, making them feel more comfortable and valued.

Well-maintained outdoor space
Outdoor space is an often-overlooked feature that can leave a lasting impression on tenants. Whether it’s a small garden, balcony, or communal area, maintaining this space can make all the difference. Simple touches like a well-mowed lawn, tidy patio furniture, or a few plants can turn an outdoor area into an inviting retreat. A clean and cared-for garden or patio space provides tenants with a space to relax or entertain, contributing to their overall satisfaction with the property.

Responsive communication
While it may not be a physical "finishing touch," how you communicate with your tenants matters just as much. Being responsive, friendly, and approachable helps create a positive experience for your tenants. It shows that you care about their comfort and are proactive about addressing any concerns or maintenance requests. When tenants feel supported, they are more likely to stay longer or return in the future.

 

A home that’s ready for immediate living
In today’s property market, "move-in ready" doesn’t just mean that a home is free of major issues - it means that everything is set for a smooth transition without the need for significant repairs or renovations. Buyers and tenants expect a property where they can unpack their belongings and immediately start living without worrying about urgent maintenance or costly updates. Essentially, it’s about providing convenience and peace of mind from day one.

Fresh, modern finishes throughout
Move-in ready properties should feature updated interiors that align with current tastes. This means fresh paint on the walls, updated flooring, and modern fixtures. Kitchens and bathrooms should be clean, functional, and aesthetically pleasing, with appliances in good working order. Buyers and renters are looking for homes that feel fresh and contemporary without the need to invest in renovation projects straight away.

Working utilities and systems
A home that’s truly move-in ready has all essential systems functioning properly. This includes heating, plumbing, electricity, and appliances like the oven, washing machine, and refrigerator. Buyers and tenants should expect that all major systems are not just functioning but have been recently serviced or checked to ensure reliability. This reduces the worry of unexpected breakdowns in the first few months of living in the property.

Minimal maintenance required
The more maintenance-free the property is, the better. A move-in ready home will have clean gutters, a well-maintained roof, and exterior features in good condition. The landscaping should be tidy, and the garden or yard should be easy to manage without immediate intervention. This kind of home offers convenience, as there’s little work required on the buyer or tenant’s part before they settle in.

Clear of clutter, with room to make it your own
When a property is move-in ready, it’s also generally free from clutter and personal belongings left behind by previous owners. Clean and decluttered spaces are essential so that buyers and tenants can easily envision their own belongings in the space. While the property may be decorated, it should still allow room for new owners to add their personal touch without needing to remove dated furnishings or excess decor.

Modern energy efficiency
Today’s buyers and tenants are also looking for energy-efficient features that save them money in the long term. A move-in ready home should have energy-efficient windows, proper insulation, and appliances that meet modern energy standards. Smart thermostats, LED lighting, and other green features are a bonus, as they provide long-term value and sustainability, making the home more desirable in today’s market.

Prepared for immediate occupancy
The final aspect of a home being move-in ready is that it’s prepared for immediate occupancy, meaning it’s thoroughly cleaned and all items that need to be addressed before you move in have been taken care of. From deep cleaning carpets and floors to ensuring the kitchen is spotless, move-in ready homes provide a clean slate for new occupants.

What this means for sellers and landlords
For sellers and landlords, making sure your property is truly move-in ready is key to attracting serious buyers or tenants. Taking care of repairs, updates, and maintenance before listing your home will not only increase its appeal but also allow you to command a higher price or rent. A property that’s truly move-in ready sells or rents faster, as it gives prospective buyers or tenants confidence that they won’t have to spend time or money fixing it up.

 

Enhance curb appeal with minimal effort
First impressions matter, and the exterior of your property plays a crucial role in attracting potential buyers or tenants. Small improvements like freshening up the front door with a coat of paint, trimming overgrown bushes, or adding a few plants can significantly enhance curb appeal. These simple changes can make your property feel more welcoming, giving it a polished look that stands out in the market.

Freshen up the interiors with simple updates
You don’t need a full renovation to make your property more appealing. Small updates can go a long way in making your home feel fresh and inviting. Consider replacing old light fixtures, updating cabinet hardware, or adding new curtains or blinds to create a more modern, cohesive look. Repainting walls in neutral tones can also make spaces feel brighter and more spacious, giving potential buyers or tenants a blank canvas to imagine their own style.

Improve functionality with smart storage solutions
Buyers and tenants are always looking for ways to make their space more efficient. Simple storage solutions, such as adding shelves, hooks, or under-bed storage, can make a huge difference. In smaller spaces, showing that there’s enough storage for everyday items can be a game-changer. For landlords, this is especially important as tenants will appreciate the added functionality of the space.

Consider the small details that make a difference
It’s often the little things that can elevate a property and give it that “wow” factor. Adding a fresh bouquet of flowers, new towels in the bathroom, or a stylish throw on the couch can make the space feel more cared for and lived-in. For landlords, these details can help potential tenants visualise themselves in the property and give a homely, comfortable feel.

Focus on lighting to set the mood
Good lighting can transform a space. Swap out harsh or outdated bulbs for energy-efficient ones, and incorporate different light sources like table lamps, floor lamps, and overhead lighting to create an inviting atmosphere. Natural light is key, so be sure to open curtains or blinds before showings or viewings to let in as much light as possible.

Stay on top of maintenance to avoid bigger issues
As a landlord or seller, keeping up with regular maintenance is essential for preventing bigger, more expensive issues down the line. Ensure that plumbing, heating, and electrical systems are all in good working order. Checking and repairing small issues like leaky faucets or squeaky doors shows buyers or tenants that the property has been well cared for and will save you from dealing with costly repairs later.

Add personal touches that appeal to the target market
Understanding your target market is key to making effective changes. If you’re selling a family home, for example, consider child-friendly touches like soft corners on furniture or simple landscaping that’s safe for kids. If you’re letting to young professionals, ensure the property is equipped with modern, functional amenities like high-speed internet or sleek kitchen appliances. Tailoring your property to the needs and preferences of your target audience will make it more appealing and increase the chances of a quick sale or rental.

Stay organised and ready to act
August is the perfect time to get ahead in the property market. If you’re preparing your property for sale or for new tenants, stay organised and make sure everything is in order. From property documents to contracts, ensure that everything is ready so that when the right buyer or tenant comes along, you can act quickly and efficiently.