Reeds Rains Property Blog

Property News from Reeds Rains

Top tips on how best to rent out your property

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Lee Gallagher - Lettings Manager Reeds Rains Chorley

Research from Reeds Rains estate agents has found that 31.7% of tenants prefer renting because it offers more flexibility (*) and statistics show that a property listing has approximately 20 seconds to impress individuals looking for a new home indicating that first impressions matter the most. (**) But what can landlords do to help make sure that a tenant falls in love with their property at first sight?

Lettings Manager Lee Gallagher from Reeds Rains in Chorley explains: “We are finding an increasing number of people approach us for advice about becoming landlords – and what they can do to increase the chances of securing a tenant.

Good furnishings attract tenants along with cleanliness and the quality of the interior. For example, properties need to feel loved with clean walls and carpets. For landlords to make the best impression we would advise their properties need to be freshly painted and clean. And remember, that your individual tastes might not appeal to all tenants so keep colours neutral and decoration simple. A property which feels loved will attract greater care from tenants and are more likely to look after it.

Your individual taste may not appeal to all tenants

Landlords also have to consider that tenants are renting a property for longer periods and will have high expectations for the long term home. Low maintenance gardens, central heating and double glazing are all important features. 

From the Reeds Rains survey, nearly 23% of tenants have been saving for 1-5 years towards a deposit on their house which can be a challenge for them. In some cases, we are finding they are having to make a changes to their lifestyle. Tenants are cutting back on holidays and the frequency of going out and more and more people are relying on help from their parents to raise a deposit so choosing the right property is important.

At Reeds Rains we pride ourselves on always acting in the best interests of our tenants and landlords and provide a personalised service which allows you to access all the information you need.”

If you would like to find out how Reeds Rains can help you as a landlord or tenant, contact Chorley. lettings@reedsrains.co.uk or call them on 01257 267626. (***)

 

(*) The Reeds Rains First Time Buyer Survey January 2015

(**) http://myrealestatevoice.com.au/news-info/article-display/love-at-first-sight-why-it-matters-for-property-sellers,48
(***) Calls may be recorded for monitoring purposes

Buy-to-Let Index - January 2015

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Rents 16% higher than in 2010

  • Over last five years, rents have grown by an average 3.0% per year – but just 0.6% annually after inflation
  • In the last twelve months, rents across England & Wales increase by 2.8%, to stand at £763 in January 2015
  • Official measure of rents paid across Great Britain now revised more closely in line with this data
  • Tenant finances see healthy half-decade – 6.8% of rent now in arrears, down from 11.1% in January 2010
  • Landlords see total returns of 11.7% over last 12 months, down from 11.8% as property price rises cool

Rents are now 16.3% higher than five years ago, having most recently risen by 2.8% over the last twelve months, according to the latest Buy-to-Let Index from Your Move and Reeds Rains.

In absolute terms, the average residential rent across England & Wales has grown by £107 since January 2010, to reach £763 as of January 2015.

This amounts to an average annual rent rise of 3.0% over the last half decade. However, this represents a real terms increase of 0.6% per annum when adjusted for inflation over the same period.

Most recently, rents have fallen on a monthly basis, down 0.6% between December 2014 and January 2015. On an annual basis, rents are 2.8% higher than was seen last January.

Adrian Gill, director of estate agent Reeds Rains, comments: “The nature and affordability of UK housing is transforming before our eyes.  In the last five years the private rented sector has successfully absorbed an unprecedented influx of tenants, while rental prices have broadly tracked inflation.

“As ever, the devil is in the detail – but as this growth accelerates, even more investment will be necessary for the industry to keep up. So we need more buy-to-let landlords to help solve the crisis in demand for homes to rent."

More details about the Buy-to-Let Index can be found here

Why are ‘Geeks’ good for landlords?

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Research has revealed that 31% of university students would describe themselves as a ‘Geek’ following a personality survey conducted by UniPlaces. (*)

The indication is that Geek personality types work harder at their studies and put a greater focus on high achieving grades rather than the typical ‘party animal’ lifestyle which can usually be associated with university students. In the survey, only 16% said their personality type fitted a ‘party animal’.

Lettings Manager Kelly Williams for Reeds Rains in Rotherham says: “This should come as positive news for landlords because as more people are showing greater care and a focus on their studies it could mean there is more chance that people with the ‘Geek’ personality type will show care as tenants when looking after a property.

It is not just university students this needs to apply to. There are many other people who are not at university but maybe studying part time and landlords who take tenants with a keen interest in an academic study outside of work can also benefit from reliable tenants.

At Reeds Rains we have a database full of tenants who are looking for a property like yours to rent. We pride ourselves on always acting in the best interests of our tenants and landlords and we would encourage you to come and talk to us find out more details.”

If you would like to find out how Reeds Rains can help you as a tenant or landlord simply contact them at Reeds Rains Rotherham, 16-18 Moorgate Street, Rotherham, S60 2DG or call them on (01709) 363152 (**)

 

(*) http://www.digitalnewsroom.co.uk/uniplaces/2014-the-year-of-the-geek/

(**) Calls maybe recorded for monitoring Purposes

Is it ok to buy a household appliance as a Valentine's Day gift for a loved one?

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 3 Bedroom Detached House - Immingham

When thinking about Valentine’s Day it is often said that home is where the heart is and that love begins at home but, some may say, is it about how much we do, or how we put that love into action?

According to a survey by Atomik Research, almost a third of people who are in a relationship spend absolutely nothing on Valentine's Day gifts (*) but does that mean they love their partners any less and, if we were to buy a Valentine’s gift, would a household item, for example, be acceptable? According to a survey conducted by Reeds Rains, 67% of respondents thought not and, in response to the same question, Reeds Rains received some interesting comments: (**)

  •  “It's a great way to move things along if you want a divorce”
  • “Most definitely not” “Depends what the appliance is”
  •  “If they've asked for it or you know it's something they've always wanted, then yes.”

Interestingly, however, some people surveyed also came up with some thought-provoking alternative uses for any household gifts which they may receive which, perhaps, indicates some more romantic thinking, for example: 

  • “Maybe a drinks chiller filled with champers and truffles”
  • “Only if a dishwasher had another gift inside of course!”

Whatever approach is taken on Valentine’s Day it’s clear to see that everyone is individual and whether you’ve got a household gift in mind, or not, you’ll know what is acceptable to the one you love - remembering always, that it’s the thought that counts.


(*) Atomik Research surveyed 2,032 adults online for Give as you Live between January 28-29

(**) Reeds Rains Valentines survey – 201 responses

First Time Buyer Online Survey Winner

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REEDS RAINS PRIZE DRAW CONGRATULATIONS

Reeds Rains are delighted to announce that a winner has been chosen for the January 2015, First Time Buyer Survey for Reeds Rains. We would like to thank everyone who took the time to answer the questions.

The winner will be receiving £100 worth of Marks and Spencer vouchers, many congratulations. 

If you would like to be in with the chance of winning £100 of Marks and Spencer vouchers then all you need to do is complete the next online survey coming out soon.

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