Property Maintenance: Who’s Responsibility Is It?

September 18th, 2019 by admin

You wake up one morning to discover a burst pipe in your flat’s bathroom. The first thing you may think to yourself is ‘how am I going to pay for this?’ The question should really be, ‘do I need to pay for this?’ You may be surprised at what comes under the list of landlord responsibilities. It’s not always easy to figure out which maintenance problems are down to the tenant to fix or are part of the landlord obligations. Whether you’re new to rental properties or just want to brush up on your knowledge, we’ve put it all here, in plain English. So, what exactly are the tenant and landlord responsibilities? The short answer is that it’s a shared responsibility. Helpfully, the law provides some clarity in regard to situations in which the landlord must solve a problem and... [Read More]

Does Energy Efficiency Always Increase A Home’s Value?

September 13th, 2019 by admin

If you’re in the process of building or renovating a house, the topic on whether to incorporate energy-efficient aspects will surely come up. The added expense, however, will lead you to question whether the investment is worth it. There are numerous benefits in doing so but one of the most attractive reasons builders tell homeowners is that energy efficiency can increase the value of your home. Of course, who wouldn’t want that? However, many people still question whether this is always the case, so here are some reasons that will explain why implementing energy-efficient methods can increase a home’s value. The added value of green building features When you’re faced with a quotation of how much will it cost to add energy-efficient features like solar panels or cavity wall insulation, it may give you pause before deciding to go for... [Read More]

How to Make a Good Off-Plan Property Investment

September 6th, 2019 by admin

Investing in property during the planning stages, before the building process has been completed, or in some cases, before it has even started, can be extremely lucrative for investors. For investors who are new to the sector, it may seem like a daunting prospect to hand over cash before seeing the finished product, and like any investment it is not without its risks. However, the benefits are numerous, including often securing a better price, and seeing greater capital appreciation on completion of the project as a result, being able to select the best unit in a development, and having the chance to personalise the property’s fixtures and fittings. Furthermore, many large new projects bring with them added investment into the surrounding area, which can add to the appeal of the property once it is complete. Where to invest City centres... [Read More]

Property Investor’s FactFile – September 2019

September 2nd, 2019 by Ruban Selvanayagam

According to the latest UK House Price Index, average house prices saw an annual price rise of 0.9% (to June2019); The latest Hometrack UK Cities House Price Index reported that London had the highest house price to earnings ratios (at 13.1x), followed by Cambridge (12.2x), Oxford (11.9x), Bournemouth (9.7x) and Bristol (9.2x); The most recent Royal Institute of Chartered Surveyors (RICS) report stated near term expectations for the property market have turned slightly negative again; buyer enquiries increased marginally for the second consecutive month although sales fail to pick-up and landlord instructions continue to fall across the lettings market. [Read More]

The Best Places to Invest in Property Right Now

August 22nd, 2019 by admin

Investing in property has always been risky business, however, if done correctly, you can see returns on your property way above the figures you ever expected. The key is investing in low-cost properties in high demand areas, this cancels out most areas immediately surrounding London. The best places to invest in housing at the moment is the North-West, Yorkshire and Scotland, with areas such as Rochdale showing the highest return on investments with an almost 10% return on your investment per year. Invest in Rochdale Houses in Rochdale are not particularly in short supply, either, with over 1000 houses set to be completed in the next 2 years. Such developments include the Hill Top Park development planned by Gleeson. These houses are sold under freehold tenure, which allows you to buy the property outright with no strings attached, making it... [Read More]

Boris Johnson – Good or Bad for Property Investors?

August 11th, 2019 by admin

With the leadership contest over Boris Johnson, who was the clear favourite throughout, has been installed as Conservative leader and Prime Minister. He has long had strong views on the housing market, but what do these views mean for the private rental sector? Here we examine the good and the bad. Private Rental Sector for Tenants Johnson has strong views on the PRS, from both the landlord’s and the tenant’s perspective. For tenants, while London Mayor, he promised a blue badge ‘kitemark’ for landlords and rental homes introduced the London Rental Standard. The London Rental Standard aimed to promote good standards within the rental market. Open to both landlords and agents, it allowed those who signed up to use the LRS badge, which is recognisable across London as a mark for quality. However, both initiatives were largely voluntary and, as... [Read More]

Follow Proper House Viewing Etiquette When Out To Buy Property

August 8th, 2019 by admin

To buyers and sellers, property viewings can be exciting good and bad, especially if people still live there. What is the proper etiquette on such occasions? Should buyers and agents stick to certain rules when visiting an open house? The answer is YES and proper house viewing etiquette is what it means. A property viewing is a make or break situation, so make it worth and look out for secrets sellers don’t tell. But, if you’re about to view the house of your dreams and desperate to get it, proper etiquette is mandatory. Respect the person hosting To be respectful and polite is a must of open-house etiquette. Make sure to present yourself in a diligent and welcoming manner. Of course, don’t overdo. Be short and concise. Greetings, hello, and goodbye. Be on time Arrive early enough to keep the... [Read More]

Is Buy-To-Let Dead? John Charcol Responds

August 7th, 2019 by Ruban Selvanayagam

Nick Morrey, Mortgage Technical Manager from John Charcol, answers your questions on the buy-to-let market: Now that the effects of the stamp duty surcharge, Section 24 and PRA regulated have percolated into the marketplace, how would you say the Buy-to-let lending space has responded? Buy-to-let investors have responded in various ways. Landlords who only want up to three Buy-to-lets are either selling up (especially with the phased withdrawal of the mortgage interest relief on income tax) or just holding on to what they have got – they are not really increasing their portfolios at all. Those that are a professional landlord initially stopped purchasing property from May 2016 (when the additional stamp duty came in) and then there was very little activity for about a whole year. Now they have been getting specialist tax advice as buying in a Limited Company... [Read More]

Property Investor’s FactFile – August 2019

August 2nd, 2019 by Ruban Selvanayagam

• According to the latest Gov.UK House Price Index, average house prices saw an annual price rise of 1.2% (to April 2019); • The latest Hometrack UK Cities House Price Index reported the highest level of year-on-year growth in Edinburgh (5.1%) followed by Liverpool (4.9%), Cardiff (4.7%), Nottingham (4.7%), Leicester (4.6%), Manchester (4.1%) and Birmingham (4.0%). According to the same data, London saw a 0% change in house prices and Cambridge saw a 0.3% drop; • HMRC data revealed that transaction levels fell by 16.5% between June 2018 and June 2019; • Despite the ongoing Brexit-led pessimism, the latest Royal Institute of Chartered Surveyors (RICS) report stated that there has been an increase in buyer enquiries after declines over the initial part of 2019. 12-month expectations are indicating growth in sales volumes and prices. [Read More]

Who’s Guilty of a Bed Bug Infestation in a Rental Property?

August 1st, 2019 by admin

Whether you’re a tenant or a landlord, it’s always best to know your legal rights and obligations, especially if you have to deal with an infestation of bed bugs. This will not only lead to quick problem resolution, but it will also ensure the proper maintenance of the rented property. Bed bugs can be easily mistaken for other types of vermin and their bite marks are often disregarded as a skin rash. More often than not, it takes a technician’s expertise to identify them and apply the appropriate bed bug treatment. But who is responsible for pest control – landlord or a tenant? And who pays for pest control in a rental property? Depending on the circumstances, both parties can be liable to pay for the extermination. Is It a Landlord’s Responsibility to Control Pests? According to the Prevention of... [Read More]