Author: Elaine Ford
At Perry Bishop, we understand that selling your property and finding your next home can be a delicate balance. That’s why we offer a solution – Market Ready!
If you would prefer to start with a gentler approach to marketing, until you have identified a suitable property to move to, you can take advantage of our market ready approach.
We will prepare photography, floorplans, EPC and description to create a brochure ready and waiting for you to commence the marketing when you are ready.
This will save any delays and give you the best chance of securing your onward purchase once you have found the right property.
Whatever stage you are at in your moving house journey, even if you’re only thinking about a move, we look forward to hearing from you. Book your appointment now for expert property advice and an up-to-date valuation.
Get in touch with us today to explore how Market Ready can work for you.
Author: Elaine Ford
The UK property management landscape has always evolved rapidly, but the last couple of years have seen change accelerate significantly, and 2024 is set to be no exception. Much like in any other business, it’s imperative for you as a landlord to stay updated on the latest trends, regulations, and market shifts to thrive in 2024.
If you do this right, then the 2024 rental market changes could play in your favour, but for this to be the case, you’ll need to understand the changes that are forecast for 2024. Thankfully, we’ve done the research so that you don’t have to; in this article, we’ll investigate UK landlord guidelines and explore the key insights and considerations that landlords should keep in mind this year.
Understanding current Market Trends
As a landlord in England, you will aleady be aware of the rising costs of rental properties in the Cotswolds and the Vale of the White Horse expected in 2024, but this is far from the only thing to consider. The world has changed significantly in recent years, and if you increase your rental prices without considering changing trends in the rental market, you could potentially limit your revenue. Let’s break down some of the major market trends that you need to be aware of.
Embracing Sustainability
From Government initiatives to public activism, sustainability has been a hot topic that affects everyone over the last few years, but don’t be fooled into thinking this is just a buzzword. Prospective tenants are increasingly seeking eco-friendly properties equipped with energy-efficient features, for both environmental and financial reasons.
Many prospective clients will be seeking sustainability in their rental property to combat rising energy costs, while also doing their part to save the planet. Ignoring this factor could cost you many clients. For this reason, you should consider applying sustainable upgrades to your property, such as energy-efficient appliances and mindful waste disposal. Not only will this make your property more appealing to tenants, but it will also reduce your long-term operating costs.
Leveraging Technology
In the past, the landlord-tenant relationship tended to be a bureaucratic nightmare, but it no longer has to be this way. The adoption of innovative technology is making all areas of our lives simpler, and this includes administrative procedures, communication, and payments. All three of these areas are staples of being a landlord, and you’d be daft not to adopt the latest technology solutions to make your life easier!
While most landlords are already using online property portals to source prospective tenants, this is only the tip of the iceberg. There are dozens of technological software and hardware solutions available that have the potential to streamline not only landlord tasks but improve your tenants’ rental experience too.
These include:
- Using modern communication platforms such as WhatsApp
- Leveraging online portals for rent collection and maintenance requests
- Installing smart home technology to increase the appeal of your property
- Using technology-driven security systems to give your tenants peace of mind
Financial Planning and Tax Considerations
In addition to evolving market trends, it’s imperative for you to become familiar with changes in your responsibilities as a landlord in 2024. These include tax considerations, the anticipated Tenant’s Reform Bill, changes to the Office for National Statistics operations, and more. Let’s take a look!
Changes to the Office for National Statistics
The first financial consideration that you’re going to need to take may sound complicated, but it’s actually very positive for you as a landlord. The Office for National Statistics (ONS) has always been a valuable resource for British landlords, ensuring they have the data they need to keep up with the latest pricing and rental trends. However, a recent announcement has outlined some significant changes to how the ONS will release such information.
Thankfully, this is good news; the ONS has greatly expanded its provided data points, offering a far more granular level of rental price statistics, instead of the generalised conclusion from past statistics. This will allow you to gain far more valuable insights into the best way to operate your business as a landlord, and best of all, it’s free to access! This is a secret weapon that many landlords are unaware of, so use it to your advantage and stay ahead of the curve!
Renters Reform Bill
Another significant change due to affect landlords in 2024 concerns the introduction of the Renters Reform Bill. This is set to benefit the rights of tenants while, unfortunately, making your life as a landlord somewhat more difficult. But as long as you’re aware of the bill’s implications, it shouldn’t be a problem.
This new bill hasn’t yet been officially confirmed, but it is anticipated to be passed in 2024. Ultimately, the Renters Reform Bill will affect evictions, preventing landlords from evicting tenants unless their contract is over or there is a serious reason to do so. As long as you are aware of this in advance, it’s no big deal – you’ll simply need to plan ahead. Thankfully, it could still benefit you, as your tenants will be comforted by this enhanced accommodation security, a prospect that could foster an excellent landlord-tenant relationship and boost tenant retention.
Overall, the constant changes to the rental market can be intimidating, especially right now when things are changing so fast, but hopefully, this article has shown you that there’s nothing to worry about as long as you stay informed. By focusing on these critical aspects, you can navigate the dynamic rental market in with confidence and achieve long-term success in property management.
However, it’s important you don’t become complacent with this information, as it wouldn’t be surprising if further trends, bills, or even tax changes affect landlords. Keep your eye on resources such as the ONS and conduct regular research, and you’ll be taking steps that many other landlords haven’t even considered, helping your business to thrive!
Our dedicated team bring expertise and local knowledge to ensure seamless and effective management of your rental property. Give them a call today.
Get in touch with us
Author: Elaine Ford
The latest regional data on rents, yields, supply and demand from Rightmove.co.uk.
Author: Elaine Ford
Whether you’re a first-time investor, professional portfolio operator or private landlord letting your own home, we’re here to help.
We are here to deliver peace of mind for landlords with our fully comprehensive lettings and property management service which will make letting your property easy and enjoyable through careful guidance and customer care.
We offer a comprehensive Marketing Strategy to help you reach the right tenants in the right places and command the best rent. Our superior marketing service – comprising professional photography, video tour and floorplan – ensures your property stands out from the crowd. We reach out to our large tenant database and your property will be listed on all the major property portals, our website and social media platforms.
We offer a choice of Services whether you’re just looking for help finding new tenants or seeking an agency to manage the whole process, we have a service to suit you.
We have are a multi-branch Agency Your property will be marketed across our established and respected branch network, covering Gloucestershire, Oxfordshire and Wiltshire.
We will keep you updated with all Legal updates so that you can enjoy complete peace of mind when you let with Perry Bishop. Our ARLA qualified agents will keep you updated on all changes to lettings legislation.
Let Perry Bishop give you a FREE property valuation and find out what you could receive as rent, click here to choose from a quick, online instant valuation or arrange for a member of the team to visit your property.
Author: Elaine Ford
Where is your favourite pub or restaurant? The Backlane Tavern in Woodstock
What do you love about the area? I live close to the Cotswolds countryside, and close to oxford so best of both worlds, but prefer the countryside.
What do you think is the best view in the area? Love going for walks in Blenheim Palace, really enjoy the views there.
Where is the best place to relax in the area? Love to walk along the river and stop off at a couple of pubs.
How would you spend the perfect day? Going for a walk in the countryside with my partner and dog Margot and stop off at a countryside pub for lunch or dinner.
Author: Elaine Ford
The UK property management landscape has always evolved rapidly, but the last couple of years have seen change accelerate significantly, and 2024 is set to be no exception. Much like in any other business, it’s imperative for you as a landlord to stay updated on the latest trends, regulations, and market shifts to thrive in 2024.
If you do this right, then the 2024 rental market changes could play in your favour, but for this to be the case, you’ll need to understand the changes that are forecast for 2024. Thankfully, we’ve done the research so that you don’t have to; in this article, we’ll investigate UK landlord guidelines and explore the key insights and considerations that landlords should keep in mind this year.
Understanding current Market Trends
As a landlord in England, you will aleady be aware of the rising costs of rental properties in the Cotswolds and the Vale of the White Horse expected in 2024, but this is far from the only thing to consider. The world has changed significantly in recent years, and if you increase your rental prices without considering changing trends in the rental market, you could potentially limit your revenue. Let’s break down some of the major market trends that you need to be aware of.
Embracing Sustainability
From Government initiatives to public activism, sustainability has been a hot topic that affects everyone over the last few years, but don’t be fooled into thinking this is just a buzzword. Prospective tenants are increasingly seeking eco-friendly properties equipped with energy-efficient features, for both environmental and financial reasons.
Many prospective clients will be seeking sustainability in their rental property to combat rising energy costs, while also doing their part to save the planet. Ignoring this factor could cost you many clients. For this reason, you should consider applying sustainable upgrades to your property, such as energy-efficient appliances and mindful waste disposal. Not only will this make your property more appealing to tenants, but it will also reduce your long-term operating costs.
Leveraging Technology
In the past, the landlord-tenant relationship tended to be a bureaucratic nightmare, but it no longer has to be this way. The adoption of innovative technology is making all areas of our lives simpler, and this includes administrative procedures, communication, and payments. All three of these areas are staples of being a landlord, and you’d be daft not to adopt the latest technology solutions to make your life easier!
While most landlords are already using online property portals to source prospective tenants, this is only the tip of the iceberg. There are dozens of technological software and hardware solutions available that have the potential to streamline not only landlord tasks but improve your tenants’ rental experience too.
These include:
- Using modern communication platforms such as WhatsApp
- Leveraging online portals for rent collection and maintenance requests
- Installing smart home technology to increase the appeal of your property
- Using technology-driven security systems to give your tenants peace of mind
Financial Planning and Tax Considerations
In addition to evolving market trends, it’s imperative for you to become familiar with changes in your responsibilities as a landlord in 2024. These include tax considerations, the anticipated Tenant’s Reform Bill, changes to the Office for National Statistics operations, and more. Let’s take a look!
Changes to the Office for National Statistics
The first financial consideration that you’re going to need to take may sound complicated, but it’s actually very positive for you as a landlord. The Office for National Statistics (ONS) has always been a valuable resource for British landlords, ensuring they have the data they need to keep up with the latest pricing and rental trends. However, a recent announcement has outlined some significant changes to how the ONS will release such information.
Thankfully, this is good news; the ONS has greatly expanded its provided data points, offering a far more granular level of rental price statistics, instead of the generalised conclusion from past statistics. This will allow you to gain far more valuable insights into the best way to operate your business as a landlord, and best of all, it’s free to access! This is a secret weapon that many landlords are unaware of, so use it to your advantage and stay ahead of the curve!
Renters Reform Bill
Another significant change due to affect landlords in 2024 concerns the introduction of the Renters Reform Bill. This is set to benefit the rights of tenants while, unfortunately, making your life as a landlord somewhat more difficult. But as long as you’re aware of the bill’s implications, it shouldn’t be a problem.
This new bill hasn’t yet been officially confirmed, but it is anticipated to be passed in 2024. Ultimately, the Renters Reform Bill will affect evictions, preventing landlords from evicting tenants unless their contract is over or there is a serious reason to do so. As long as you are aware of this in advance, it’s no big deal – you’ll simply need to plan ahead. Thankfully, it could still benefit you, as your tenants will be comforted by this enhanced accommodation security, a prospect that could foster an excellent landlord-tenant relationship and boost tenant retention.
Overall, the constant changes to the rental market can be intimidating, especially right now when things are changing so fast, but hopefully, this article has shown you that there’s nothing to worry about as long as you stay informed. By focusing on these critical aspects, you can navigate the dynamic rental market in with confidence and achieve long-term success in property management.
However, it’s important you don’t become complacent with this information, as it wouldn’t be surprising if further trends, bills, or even tax changes affect landlords. Keep your eye on resources such as the ONS and conduct regular research, and you’ll be taking steps that many other landlords haven’t even considered, helping your business to thrive!
Our dedicated team bring expertise and local knowledge to ensure seamless and effective management of your rental property. Give them a call today.
Author: Elaine Ford
At Perry Bishop, we are experts in the rental property sector, and we’re bringing you our six best tips to help you make sure your rental income is well-protected.
Always carry out Checks on Tenant affordability
You should ensure that any prospective tenant is able to afford their rental payments. Perry Bishop will be able to carry out these affordability checks on your behalf to ensure the applicant has sufficient income to cover the rent.
Keep the Rental Property in good condition
You’ll want to get as much rental income as you can for your property, and the best way of doing this is by ensuring the property remains in excellent condition so that it appeals to prospective tenants. Threadbare carpets, dated fittings and dirty paintwork are a turn-off for tenants. Remember, too, that the cost of repairs has increased in the current financial climate, so regularly keeping your property in a good state of repair will help you avoid any large repair bills in the long run.
Carry out Rent Reviews regularly
You should review your rents regularly to make sure you’re maximising your investment while avoiding overstretching the affordability of your tenant. In many cases, landlords decide they won’t increase their existing tenants’ rent when they stay in the property for several years. You should weigh up whether you are happy to leave the rent as is in return for reliable tenants and on-time payments, or if you can maximise the yield further. Our experienced rental team can discuss your options with you if you are unsure on the best course of action.
Take out Landlord Insurance
It’s possible to protect your rental income as well as your rental property itself should a problem arise in the future. Rental insurance is a cost-effective way to recoup your losses should the worst happen. Problems like fire, flood and theft as well as property damage caused by your tenants can all be covered by a landlord insurance policy, and you may even be able to get contingency cover that will protect you against tenants’ non-disclosure.
Take some Tax advice
You should always take the time to check that you’re paying the correct tax. Property taxation is a complex subject so seeking out expert advice regarding your tax liability as a landlord is essential if you’re keen to reduce your tax bill by as much as you can.
Legal Awareness
Stay informed about landlord-tenant laws in your jurisdiction. Knowing your rights and responsibilities can help you navigate any legal challenges related to rental income. If a tenant consistently fails to pay rent, be aware of the legal procedures for eviction in your area.
If you’re thinking about renting out your property, our team at Perry Bishop is here to assist you. We can help you find suitable tenants and manage all aspects of your rental. Contact us today to discuss how we can make the rental process seamless and stress-free for you.
Author: Elaine Ford
We wish everyone a wonderful and happy new year and hope that you achieve all that you are looking to make happen – we also hope we may help you move house !
As we start the year with lots of energy and vigour to help more people ‘ move to the next chapter of their lives ‘ we look back on all that we achieved in 2023.
Despite a slightly subdued sales market compared to some previous years we have been very busy – our Estate Agency Teams valued just over 1700 properties and brought over 700 of them to the market, they agreed sales on over 600 properties and along with existing sales they helped circa 800 people to move home, through this they also looked after 3774 new buyers looking to move.
The Lettings Team have helped 2775 possible renters look for a suitable home, conducted 350 market appraisals and brought 250 properties to market – the Land and New Homes Team have also been very busy now selling well over 100 redundant churches and sold many development sites for new housing , the flow of New Homes into our area for 2024 will be improved upon recent years and is looking very positive.
Through the passion of our teams and their dedication to our strapline of ‘property made personal’ we are now up to a total of 2367 five star reviews reflecting the experience of our service levels and client happiness.
We sent an incredible 260,000 emails across our business including property alerts to new buyers and made in excess of 80,000 phone calls to keep clients, buyers, landlords and renters up to date of progress !!
Our website has also worked hard for us and for client ease booked straight into our diaries several hundred appointments and had over 300,000 visitors through 2023.
Our brilliant teams have massively made a difference to the lives of so many providing a positive and successful property experience – we are excited to do this again in 2024 and look forward to helping even more people, making more calls, processing more emails and looking after everyone – we always communicate in the way that best suits the person.
We would love to help with your move this year, give us a call today to arrange your free, no obligation valuation or click here to book a time and date to suit yourself or carry out a quick on-line estimation of your home.
From all of us at Perry Bishop a very happy and healthy 2024.
Author: Elaine Ford
Home movers have been given a “belated Christmas present” as mortgage rates continue to drop, it has been claimed.
It comes as HSBC became the first major lender to release a rate below 4% in more than a year, with a five-year fix at 3.94%.
Nicholas Mendes, of mortgage broker John Charcol, said: “This latest move will no doubt move them amongst the Nationwide, Halifax, Virgin and Barclays rates.
“As been noted in the past few days lenders will be looking to capitalise on the pent-up purchase demand and those coming to the end of their fixed rate in the first half of 2024, so we should expect to see continuous battle amongst lender.”
Data from Rightmove shows the average five-year fixed rate has dropped from 5.23% a year ago to 5.02% today, while a two-year deal is now at 5.43%, down from 5.46%.
Matt Smith, Rightmove’s mortgage expert said: “It looks like lenders are likely to give early 2024 movers the belated Christmas present of lower mortgage rates. After the reduction in swap rates we saw before the holidays, this is now starting to filter through to mortgage rates now that the festivities are over and the working year has begun.
“Unless things change, the signs are positive that lenders will reduce rates further over the coming weeks. Combined with the early-year bounce in home-mover activity we’re starting to see, lenders who price more competitively can expect growing interest from those looking to take out a mortgage soon.”
If you would like independent mortgage advice or would like to discuss any financial aspects further, please call Mark Weston on 07894 816781 or email to mortgages@perrybishop.co.uk.
*Article from Estate Agent Today
Author: Elaine Ford
Whether you are thinking about downsizing and releasing equity, moving to a larger home or would just like a change, our experienced team are here to help you start your next chapter.
If you are thinking of a move during 2024, our team are here to help you start your moving journey and can come out to provide you with an accurate and detailed valuation, or if you’re just interested in getting a quick idea of what your property is worth in a matter of seconds, use our online valuation tool. The choice is yours. Simply click here and leave the rest to us.
Learn the secrets of our structured plan and marketing strategy for achieving the best price for your property in the shortest amount of time. Perry Bishop’s 11 Step Plan is implemented on every property we sell and it really does work, download your free copy here.
Alternatively, if you would prefer to start with a gentler approach to marketing until you have identified a suitable property to move to, you can take advantage of our Low Key Marketing Service.
We look forward to helping you with your next move.
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