Finding the perfect rental home for tenants and landlords can sometimes be a challenge. However, there is a lot of common ground that, if covered correctly, can make life easier. So, here are ten things to look out for that may help you find the perfect rental home.  

A great location  

Location is a big factor that should be considered carefully for several reasons. It’s easy to overlook any location’s plus points. So, take a good look at these; they may include proximity to beauty spots, social scenes, transport links, schools, health care, and more. Good neighbourhoods attract a lot of interest, but so do up-and-coming areas. 

An energy-efficient property 

Energy-efficient properties are in everyone’s interests, and every little thing you do makes an impact. LED lighting to solar panels, energy-efficient appliances, and better insulation, all drive down the cost of monthly bills and can help make the property more self-sufficient. Energy-efficient homes are in high demand and can command a higher rent.  

Good rooms  

A good bathroom and kitchen are always at the top of the list of priorities. But outdoor spaces and bedrooms should not be an afterthought. Many people consider nice outdoor spaces and gardens to be just as important as any other room in the home. 

Modern appliances 

A built-in dishwasher, a good washing machine, a reliable oven, and a well-maintained heating system make life easier and reduce the risk of mishaps. If appliances are in excellent working order and have excellent energy efficiency ratings, then you are onto a winner. 

Discerning decoration  

Decorating is important, but presentability and cleanliness are also paramount. It can be better to leave some decoration to the imagination. Going overboard might not be to everyone’s tastes. Putting your stamp on interiors and decoration is something landlords and tenants should do while being mindful of each other.  

An attractive property 

Tenants want to love where they live, and landlords want to attract tenants, so it’s mutually beneficial to find an attractive property. Tenants should think about what they really want, while landlords should make it possible. Afterall, the needs of a young professional are different from those of a young family.    

Keep within your budget   

This is a crucial part of planning for landlords and tenants. With today’s spiralling costs, it’s easy to go over budget. However, if you have a budget, you will have a better understanding of how to make allowances to justify these extra costs, if you exceed it. Better yet, it may help you to find a way to recoup them.  

A well-maintained property 

Whether you choose to opt for a fully managed service or not, well-maintained properties will prevent small issues from becoming costly repairs. Fully managed properties could provide 24/7 property maintenance support, keeping landlords and tenants happy.  

A secure deposit 

It is a legal requirement for landlords to place tenant deposits in a tenancy protection scheme (TDP). You can use one of the many schemes available. Once again, this is in the interest of both the landlord and the tenant.  

A good tenancy agreement 

Good letting agents are often a bridge between the burgeoning gap that sometimes appears between landlords and tenants. Tenancy agreements, deposits, property inspections, maintenance, compliance, and viewings are made easier for both tenants and landlords if carried out by an expert.  

Contact us for expert advice and guidance whether you are renting or letting  

For property investors, strategy is key and usually starts with contemplation. Examining the year behind us can help you to develop your future plans. Whether you’re a seasoned landlord or a potential investor, here are some of the key takeaways from 2024: 

Rental growth 

In the 12 months to August 2024, average rents increased by 8.4% in the UK, marking a period of steady growth for the market.* This upward trend reflects a surge in tenant demand. With a growing population and ongoing challenges in homeownership affordability, more individuals are opting to rent, intensifying competition for available rental properties. The strong rental growth may continue as supply remains constrained in many regions, making this a key trend for both tenants and landlords alike. 

Interest rates 

On October 3rd, 2024, the Bank of England's base rate fell to 5%. This was a highly-anticipated decrease from the previous rate of 5.25%, which was the highest level in 16 years.**  

The base rate is crucial as it influences the borrowing costs for banks and lenders, which then impacts interest rates on a wide range of financial products, including mortgages, loans, and personal credit.  

Homebuyers and property investors are particularly sensitive to these changes, as mortgage rates typically move in line with base rate adjustments. With the base rate falling rather than rising, securing a mortgage has become more attainable this year. 

Renters’ Rights Bill 

Following the Conservative government’s decision to shelve the Renters' Reform Bill, which had proposed extensive changes to the rental market, the Labour Party has committed to introducing new legislation through the Renters' Rights Bill.  

This reform is aimed at rebalancing the power dynamic between tenants and landlords, ensuring that renters have more stability in their living arrangements, while landlords have clearer legal frameworks to follow. As housing policies continue to evolve, both tenants and landlords will need to stay informed on how these legislative changes may impact the rental landscape. 

Landlords needed 

Despite gradual improvements in the overall supply of rental properties, the market remains strained. The number of available rental homes is still 20% below pre-pandemic levels***, creating a significant supply gap. This shortfall offers a prime opportunity for potential investors, as high demand combined with limited supply is likely to sustain rental price increases in many regions.  

For new landlords or those looking to expand their portfolios, entering the market at this pivotal time could prove beneficial. With fewer homes available, renters face intense competition for properties, particularly in urban areas and regions experiencing population growth. This dynamic makes the rental sector an attractive option for investors seeking strong returns. 

Need help managing your investment? Get in touch with our dedicated team today 

ONS* 

Bank of England** 

Zoopla*** 

Whether you are staying put or moving, the last thing you need is a break in. You may be insured, but the emotional consequences and the time it takes to replace precious items can cause chaos and delay your move. So, with this in mind, we give some tips that may help keep your home safe over the holidays.  

Invite friends or family 

There’s nothing better than having friends and family over for drinks or food. Perhaps there are certain family members that you may prefer to invite when you are not in! Either way, getting some people around to check all is okay or watering the plants and drawing the curtains may help create the impression your home is not alone.  

Gadgets and video phone door bells 

If you want to keep an eye on who is at the door even when you are not in, you can’t go wrong with a video ring doorbell. Smart security cameras and app-controlled devices may help create the impression that your home is not empty. Smart technology allows you to do so much, from checking the contents of your fridge to adjusting lighting.       

Socials  

Sharing memories and reels online is fun, and no doubt you will want to update your friends, family, and followers. That said, sharing your location can sometimes, if you are overly explicit, advertise the fact that your home is empty. On the other hand, you can also use social media to keep up with any news in your area that gives you cause for concern.   

Lighting   

Lighting can be an effective deterrent to burglars. Timers and sensors work well outdoors and indoors. During this season, you might find yourself tempted to run a cable through partially open windows. This might make forcing open your home’s windows less of a challenge, leaving what could be an easy entrance to your home.  

Hiding keys    

Hiding keys might be convenient, but it’s also a way of inviting burglars to your home. Instead of making it easy for them by hiding a key or using a key safe, it might be better to make alternative arrangements. Instead of leaving keys under a plant pot or the front door, perhaps it’s better to leave a spare key with a trusted friend or family member. 

Don’t present your presents 

Leaving open or unwrapped gifts is a good way to entice burglars. Undoubtedly, you will need to conceal your gifts from your loved ones. Your home insurance policy may require the inclusion of certain items. For instance, your existing policy may not always cover bikes, necessitating additional coverage. 

Looking for a more secure home? Contact us