Discover the latest market news this June

A good relationship with your landlord is key

Developing a positive relationship with your landlord has many benefits. By communicating clearly and abiding by your tenancy agreement, your landlord is more likely to trust you to remain in their property.

In turn, this should encourage them to make your tenancy as comfortable as possible, especially if they want to provide a secure, long-term let. Here are a few ways to set off on the right foot.

First impressions count

Your first meeting with your new landlord is an excellent opportunity to establish a good rapport. Even if you’re feeling anxious or have questions to ask, being polite and friendly will make discussing any issues or concerns easier for all parties.

Keep your end of the deal

Landlords often feel overwhelmed by the process of managing their lets.* By taking good care of your landlord’s property and paying rent on time, you’ll quickly become a valuable asset. And with less to worry about, your landlord is more likely to respond promptly and fairly if any problems arise down the line.

Part on good terms

Don’t leave your landlord in the lurch when it's time to move on. Giving a few months’ notice before your contract expires will be much appreciated. If you can recommend an equally reliable tenant, even better. Tying up any loose ends should also be dealt with as professionally as possible to help you secure a favourable reference if required.

Are you excited about finding your dream rental? We may have the perfect property for you. Browse our rental properties here.

*Direct Line.

1 in 4 households are making home improvements

The last few months have seen energy prices soar and household budgets squeezed. As a result, many homeowners are starting to alter their homes to cut bills and increase the energy efficiency of their properties.*

But it’s not just the cost-of-living crisis that has prompted this trend. Recent government net-zero policies mean that properties with higher EPC ratings may be easier to rent or sell in the future. Investing now will not only help you cut bills and boost your eco-credentials, but it could raise the value of your home moving forward.

According to a recent investigation, 16% of people plan to install windows with double or triple glazing, with energy-efficient fittings, draught-proofing, solar panels, and insulation also high on the agenda.

Meanwhile, general painting and decorating (58%) and installing a new bathroom (26%) took first and second place on the list of priorities, reflecting how much time people may be spending at home. The front garden was an important consideration too, hinting that kerb appeal and aesthetics matter to many homeowners.

Interestingly, around 6% of people surveyed planned to install a heat pump, with 7% thinking about an outdoor electric charging point for vehicles. With more political changes on the horizon and an uncertain energy supply resulting from the war in Ukraine, people may continue to feel the need to adapt their homes accordingly.

If your budget is tight, small changes such as using a smart meter or swapping out inefficient bulbs can still make a difference. We can also advise you on how larger improvements may increase the value of your home.

Contact us for a friendly chat or to book a valuation.

*Property Reporter

What's happening in the UK property market?

After two years of high market activity, you’d be forgiven for thinking the tide is ready to turn. But despite burgeoning constraints on household finances, the buying frenzy continues, with properties still selling at almost record speeds nationwide.*

But what’s driving this situation? The leading cause appears to be a general lack of supply. From delays brought about by the pandemic to a shortage of new homes across the UK, the supply-demand ratio is proving difficult to balance.

Low interest rates and rising inflation also mean that buyers hope to reduce their potential mortgage debt. This combination of factors has contributed to UK house prices increasing by 9.8% between March 2021 and 2022 – adding £24,000 to the average value.**

The market is still strong as we move into the summer months – and will most likely remain so for the foreseeable future.

Do you know how much your home is worth right now? If you’re thinking of selling, book a valuation with us today.

*Home.co.uk.

**UK House Price Index

Investing in property? Here are our top tips!

With high demand for property driving up house prices and rents across the country, now is a great time for new or established landlords to ride the wave by investing. But where should you start, and how can you improve your chances of a respectable return? Read on to find out.

Choose your location

Ideally, it’s sensible to invest in an area within a manageable radius of your current location. This will allow you to visit the property easily, complete any necessary improvements, or keep an eye on contractors. If you live nearby, you’re also more likely to know which streets and neighbourhoods are the most desirable, helping you identify golden opportunities as soon as they arise.

Once you’ve settled on a general area, spend some time researching the current market conditions, including the average local rent and sale price for the type of property you’re interested in buying.

Hint: A trusted local agent like ourselves can advise you on this.

Identify potential ways to add value

While searching for the perfect rental, consider ways you could improve a property to make it more appealing to your ideal tenant. Could you add an extra bedroom or a home office by converting the loft? Is the property worth renovating to bring it in line with more high-end lets? This is where your market research will come into its own.

Other ways to increase profit may include selling off additional land a tenant won’t need or splitting up a building into apartments. Just make sure you obtain advice from a relevant professional before you invest.

Decide on funding

Yes, opportunities are endless for cash buyers, but if you have the minimum deposit (usually 25%), a buy-to-let mortgage can help you achieve your dreams. The maximum you can borrow is linked to the rental income you expect to receive, which should be 25–30% higher than your mortgage payment.

Specialist lenders may also provide a bridging loan to cover the cost of renovations while you get the property up-to-scratch.

Beyond these top tips, our property experts are always on hand to help. Contact us to discuss potential investment opportunities or book a rental valuation.