Reeds Rains Property Blog

Property News from Reeds Rains

Make shared accommodation work for you – Tips from Reeds Rains


Tips for choosing a roommate

Research suggests that people older than 35 are staying in shared accommodation rather than renting alone or buying their first homes – which has risen faster than younger age groups over the past 5 years. (*)

By sharing accommodation it's often possible to live in a better property or in a better area than you could afford otherwise and Reeds Rains estate and lettings agent are providing tips on how sharing accommodation can work for you.

Hannah Davis, area lettings director for Reeds Rains says: “A popular reason people choose to share is the social benefit as well as it being more affordable. It is important to take your time to make sure you choose the right people to live with as well as the right location.

When deciding whether a person is suitable to share with it is a good idea to meet them and ask them a few questions to get to know them. You could ask; what time do you get up in the morning? What time do you go to bed? Do you smoke? 

While considering the property, look carefully at the contract as it will highlight all the important information you need to know. It will tell you when the scheduled house inspections take place along with the required cleaning standards and the penalties for late rent.

You may also require a guarantor who agrees to co-sign the tenancy agreement and becomes jointly liable for any tenant obligations. A guarantor may need to complete an application form and be referenced before a tenancy can be considered. The guarantor will also have to sign the deed of guarantee before the tenancy can proceed.

Ask for a list of all the furniture in the property and check the condition which it is in. At the viewing, take the list with you, check it is accurate and take photos of any worn or damaged items. Keep a date and time of when the photos were taken to resolve any disputes which may arise at a later time.”

If you would like to find out how Reeds Rains can help you as a landlord or tenant, log on to to find your local Reeds Rains branch.



Image by uniplaces

Q2 2015 - Tenant Arrears Tracker


Severe tenant arrears at two year high

  • As of second quarter of 2015, total of 74,000 private sector tenants owe more than two months’ rent
  • Number facing serious arrears up 4.4% on quarterly basis, and 7.2% higher than in Q2 last year
  • But landlords absorb deterioration, as eviction orders now lower on both an annual and quarterly basis
  • Landlords’ own arrears continue to improve, with just 5,700 seriously behind on mortgage payments

The number of tenants seriously behind on rent has risen to the highest level in two years, according to the latest Tenant Arrears Tracker by estate agency chain Reeds Rains, part of LSL Property Services PLC.

There are now 74,000 tenants owing more than two months’ rent, as of Q2 2015. This means 5,000 more households are in significant arrears than a year ago, or an annual increase of 7.2% since Q2 2014, when this figure previously stood at 69,000 across the UK. On a quarterly basis, the number of cases of severe arrears has risen by 4.4% or 3,100 households, since standing at 70,900 in Q1.

Read the full report >

First Time Buyer Tracker - September 2015


Strongest summer on record for FTBs as sales pick up 25% post-election

  • August sees 30,200 first-time buyer sales – an increase of more than a quarter (27.4%) compared to May
  • Transaction levels hold steady on July at a post-recession record and the highest total since August 2007
  • New changes make the last three months the strongest summer in eight years, with almost 90,000 sales in total
  • But rising costs may spell trouble for first-time buyers, as the average deposit rises 9% since May 2015

The number of first-time buyer sales in August leapt by over a quarter compared to May, according to the latest First Time Buyer Tracker from Reeds Rains.

August experienced 30,200 completed first-time buyer transactions, compared to 23,700 in May – the month of the General Election. This represents an increase of 27.4% on a three-month basis and means that 6,500 more first-time buyers completed property transactions in August than in May.

On a monthly basis, first-time buyer transactions matched July’s total of 30,200 sales, meaning that completed transactions are still at their highest level since August 2007, a post-recession high for the second month running. This makes the June to August period the strongest summer in eight years, with 89,800 transactions being completed by first-time buyers. By contrast, during the same summer period last year only 84,900 sales were completed.

Read the full report >

Community Spirit


Reeds Rains Durham

Reeds Rains estate agents has found that 69% of people in Britain have a neighbour they never say ‘hello’ to and that 78% of people find that it brightens up their day when they do, which can make them feel as though they have a greater attachment to their local community. (*) 

The study has revealed that the easiest way to start a conversation is to ask about a person’s well-being (43%) followed by the weather (27%) and holidays (7%).

John Wetherell regional managing director for Reeds Rains says: “Having good neighbours is becoming more important to buyers when they look for property. During viewings, questions they raise are about the neighbours and this is something which they often explore in detail before an offer is made. 

When considering a property to purchase for example, it might be worth introducing yourself to the people who live nearby. During a quick chat on the door step you can gather useful insights by dropping in questions, such as: What do you like about living here? Do all the neighbours get along with each other? And do you know why the seller is moving? 

Introducing yourself early on will make it easier to develop these relationships in the longer term.” 

When people were asked in the survey, what stops you from talking to your neighbour? Responses people gave included: ‘I am out at work and not familiar with them’, ‘lack of time’, ‘there has never been a need’ and ‘they keep themselves private’.

If you would like to find our more how Reeds Rains can help you about buying or selling a property, visit to find your local branch.

(*) Reeds Rains online survey – 103 respondents August 2015

Buy-to-Let Index - August 2015


Rents retreat in August

  • Rents drop on a monthly basis, down 0.1% since July to stand at average of £803 per month in August
  • Annual pace of rental growth tempers to 5.5% over the last twelve months, down from 6.8% in July
  • While London and the South East slow, rents across the Midlands and East of England hit all-time highs
  • Despite slower rent increases, tenant finances worsen – as the proportion of rent in arrears rises to 9.9%
  • Landlords see gross yields steady at 5.1% while total annual returns stand at 9.3% including capital growth

Rents across England and Wales have fallen on a monthly basis for the first time since March, despite fresh records in three regions, according to the latest Buy-to-Let Index from Reeds Rains.

Average rents fell by 0.1% on a monthly basis, down from £804 in July to stand at an average of £803 in August. On an annual basis rents are now 5.5% higher than in August 2014, representing a slowdown since July when annual rent rises stood at an all-time record of 6.8%, 

Adrian Gill, director of estate agent Reeds Rains comments: “August has witnessed a break in a series of blistering rent rises. 

“Yet this mild correction comes on the back of a whole year of acceleration. Rents are rising rapidly on an annual basis, underpinned by an improving economic picture for many potential tenants – and the peak lettings season is only just about to start this autumn.”

“There is also no major change to the fundamentals of supply and demand. This means that in the longer-term, faster rent rises may become a semi-permanent feature of the British property market. Alongside purchase prices, rents will continue to rise rapidly until something happens to address a drastic shortage of homes in the UK.”

Read the full report >

Reeds Rains Blog

Welcome to the Reeds Rains Property Blog

Category list



<<  October 2015  >>

View posts in large calendar
Logo for the Estate Agency Foundation, combating the causes of homelessness

You appear to have Javascript disabled. Some of this site’s features require Javascript to function.