Author: Elaine Ford
|
A fundamental mistake landlords make is choosing not to use a reliable property management company. There is a common misconception that managing a property independently will save landlords money. In fact, it often turns out to be a false economy, read below to find out the benefits of letting your property using propety management. There are many benefits to using a Property Management Company
Many landlords in the come to us once they realise how challenging it can be to deal with all aspects of property management themselves and soon begin to recognise the benefits that using a property manager will bring.
Here we’ll look at the benefits of using a Property Management Company.
A single point of contact for tenants
Rather than having to deal with your tenants yourself, your trusted property management company will be able to resolve any problems and issues arising on your behalf. Property management companies offer a 24-hour service, so they are available to help when you are unavailable. Handling tenant complaints when letting your property can be stressful, but management companies will handle matters without you needing to involve yourself directly.
Reduced Tenant turnover
Thanks to the practical, effective, and speedy services that your property management company will provide, the chances of high tenant turnover become much lower. If any changes occur on your side, such as a rent increase, your tenants are likely to be more prepared to co-operate when they know they’re in safe hands
A lower chance of legal problems
If you’re unlucky enough to experience a problem tenant, you can find legal issues mount up over time, costing you money and time. A property management company will be familiar with the most recent legislation and will be able to handle legal matters appropriately and efficiently on your behalf.
Timely rent collection
When you use the services of a property management company, you won’t need to worry about collecting your rent payments yourself. This can be a relief if you have difficult tenants. If they fail to make payment on time, a property management company will enforce the lease policies, taking appropriate steps to ensure that you’re fully covered.
Reduced maintenance costs
When you use a property management company, you will be able to take advantage of their maintenance provision team, who will keep your property in excellent working order. This is a far cheaper alternative to hiring external professionals every time something needs fixing. Also, the property management maintenance team will be familiar with your tenants and ensure all work is carried out professionally and correctly.
Why use a Property Management Company
As a landlord dealing with all your tenants’ issues with no professional assistance can be highly stressful and time-consuming. The ideal solution is to use a trusted local property management company. You’ll experience far less stress and will be sure to enjoy excellent value for money, with reduced tenant turnover and maximised rental revenue.
Get in touch with our experienced team today to find out more about the property management services we offer.
Author: Elaine FordIn 1957, interest rates jumped significantly meaning mortgage rates were 7.5%. If you waited for interest rates to go down to what they were 18 months before, you wouln’t have purchased a home until 2008. You would have rented for 51 years waiting for rates to go down. Meanwhile the value of property increased by 9.351% (that is not a typo)
Don’t wait to buy property
Buy property and wait
Perry Bishop offer free valuations, so it won’t cost you a penny! Click here to book a time that is convenient for you.
Credit Christopher Watkin
Author: Elaine FordWe know that most sellers don’t want to be disturbed during the festive period when those that can, spend time with their families and closest friends.
You may be putting off coming to the market until the new year, but have you considered that you will likely miss out on the flurry of activity from buyers on the property portals between Christmas and New Year? Rightmove data reveals that the period between Boxing Day and the New Year was its busiest on record for home-mover activity, as both prospective buyers and sellers make it their resolution to move in the new year.
Our ‘Do Not Disturb’ campaign is aimed to help you. Instruct us to sell your home before the Christmas decorations go up and we will get you ‘market ready’ with professional photographs, sales brochure, and all the paperwork complete and ready to launch onto our website and the property portals at Christmas to catch the attention of active buyers.
Our campaign means we will not need to disrupt your Christmas plans and you can relax and enjoy every moment knowing you are one step ahead of the competition.
Contact us today to book your valuation and take your first step towards your move in the New Year.
Author: Elaine FordSo, you need to sell your property and you’re wondering which is the right path for you. Auctions have their benefits, but so does selling via an estate agent, so which is better for your situation? If you’re wondering whether you should sell your home via auction vs an estate agent, here’s an overview of the pros and cons to help you decide. Selling at Auction What Are the Cons of Selling at Auction? Let’s get some of the negatives out of the way first. Selling at auction may be quick, but it does come with some risks and downsides, including: Added fees: There could be added fees when selling at auction that can make it a more expensive option. You’ll need to instruct a solicitor to prepare a legal pack before you sell. Plus, you’ll need to pay the auctioneer’s marketing and commission fees. Limited buying pool: Buying a property at auction isn’t the traditional route, so your buying pool is already limited. Plus, auctions have a reputation for ‘hard to sell’ or fixer-upper properties, which can attract low-paying buyers looking for a great deal. It doesn’t sell first time: A good auctioneer should drum up interest from the right kind of buyers. If they don’t market your property well enough, your property may not sell first-time around. What Are the Pros of Selling at Auction? Despite the cons, there are lots of benefits to selling your property at auction, including: Quick turnaround: Auctions are renowned for their quick turnaround. Usually, they require completion just a month after the winning bid. Low risk of fall-through: When the gavel hits, your buyer is committed. They pay a hefty deposit on the spot and immediately sign the contracts. Even though they could still pull out, it’s highly unlikely. Inspires competition: An experienced auctioneer can inspire a healthy amount of competition for your property. If this happens, your property could sell for more than you think. However, getting a good deal isn’t guaranteed when selling at auction, so be wary of any auctioneer that promises such things! Selling a Property Via an Estate Agent What Are the Cons of Selling Via an Estate Agent? Not cons exactly, but if you are considering the traditional method of sale, there are some things you’ll need to take into account: Estate agent fees: Just like auctions have fees, you’ll still have to pay for the services provided by your estate agent. Security of sale: Good estate agents take measures to prevent gazumping. But, since buyers aren’t charged an instant deposit like they are at an auction, there’s less security in the sale going through. Time: Selling via an estate agent can be a quick process. But it’s highly unlikely it’ll ever be as quick as an auction house! What Are the Pros of Selling via an Estate Agent? It all depends on your situation. If you have time to work with an estate agent, it will mean: Less admin: Estate agents make life easier. They prepare the property listing, take photos, market your home, organise viewings, answer countless enquiries on your behalf and ensure the sale progresses smoothly. Auctioneers can lend a hand, but it won’t be as in-depth as an estate agent. Higher selling prices: Usually, you can get more value when you sell your home via an estate agent compared with an auction. Unlike auctions that have a limited buying pool, everyone’s at the table when selling via an estate agent! More control: Even though you can set a reserve price at an auction, there’s no telling how much your property could sell for. Selling via an estate agent gives you full control over the price you get. Need Help Deciding? Download our Auction Guide. We’d love to have a chat with you. Our property experts are here to help you decide which route is best for selling your home. Give us a call today.
Author: Elaine FordYour first port of call is likely to be an estate agent to help you determine the value of your home. But do you ever wonder what’s going on behind the scenes during that all-important valuation appointment? Let’s unravel the mystery and look at what estate agents are really looking for when they’re calculating your the Cotswolds and the Vale of the White Horse property’s worth. ‘How to value my house‘: First Steps
Before we get into the valuation process, let’s talk about how you can get a rough valuation figure. As your local estate agents, we offer instant online valuations, giving you an estimate based on factors like property type, postcode, and the number of bedrooms. Yet, for a clear-cut understanding of what your property could fetch, we recommend an in-person valuation. What does it cost to know my home’s worth?
Perry Bishop offer free valuations, so it won’t cost you a penny! Click here to book a time that is convenient for you. Property Valuation
So, how do estate agents value a property, especially in a competitive market? It’s not just about location or square footage; we will look at a multitude of factors that can make or break your property’s market appeal. The Key Factors:
First Impressions: Kerb appeal matters everywhere, but in the Cotswolds and the Vale of the White Horse, it’s crucial. Spruce up your exterior to make your home stand out. Condition Matters: A home in pristine condition could earn you top pound, especially in a demanding market. The Power of the Postcode: The right postcode can add significant value to your property. Proximity to good transport links and top schools is a big plus. Trending Property Types: Whether it’s a Victorian townhouse or a modern flat, certain styles may be more in demand depending on ever-changing market trends. Functional Layouts: In an area where space is at a premium, a well-designed layout can hike up your property’s value. Comparing Apples to Apples: How do estate agents value a property? By comparing it to similar, recently sold properties in your area! Knowledge of the local market is key. Room for Growth: If you’ve secured planning permission for extensions or renovations, you’re already ahead of the game. these will factor this into the valuation. Quick Property Valuation Prep Tips
Adding these prep tips into your strategy could make a world of difference in how your property is valued. In Conclusion
When wondering ‘how to value my house’, understanding the whole valuation process is invaluable. Prep your property wisely, and when it’s time to make your next move, you’ll do so with the confidence that you’ve got the best possible valuation. Do you have questions about how we carry out valuations? Fire away, we are here to help you achieve the best possible price for your home. Contact us today.
Author: Elaine FordWhen the temperature drops and days grow shorter, ‘how do I prepare my house for winter’ is a common question we hear as the chill begins to set in. While it’s a season of celebration, it’s also a crucial time for homeowners to ensure their properties in are adequately prepared for the icy months ahead. From insulation to heating maintenance, proper winter home preparation can save you money and keep you warm and safe.
We’ve got 5 tips for you to ensure you stay cosy!
1. Inspect and insulate your home
Check home insulation
If you’re wondering ‘how do I prepare my house for winter?’, first things first! Inspect your home’s insulation, particularly in the loft, walls, and around windows and doors. Improving your home’s insulation not only helps you stay warm but can significantly cut down on energy bills.
Use draught excluders
Investing in draught excluders for doors and windows is a cost-effective way to keep the warmth in and the cold air out. Simple DIY solutions like weatherstrips fitted to doors and windows can also go a long way in winter home preparation.
2. Boiler and heating maintenance
Boiler Check-up
To avoid waking up to a cold home due to a boiler breakdown, get your boiler serviced by a qualified engineer. Regular boiler maintenance ensures your heating system runs efficiently and safely.
Bleed radiators
Ensure you bleed your radiators to release any trapped air, making sure they work effectively. Also, consider installing reflective panels behind radiators to direct heat into the room. Knowing how to bleed radiators is essential winter safety advice.
3. Outdoor maintenance
Clean gutters
Blocked gutters can cause water damage and dampness. Clean out leaves, moss, and other debris from your gutters and downpipes to ensure proper drainage. This outdoor winter home preparation is crucial for maintaining the structural integrity of your property.
Trim trees
If you have trees close to your property in the Cotswolds and the Vale of the White Horse, make sure to trim any overhanging branches. These can become hazardous in high winds or under the weight of snow, so don’t skip this winter gutter cleaning tip.
4. Emergency supplies
Create a Winter Emergency Kit
Compile an emergency kit with essentials like blankets, bottled water, non-perishable food, first-aid supplies, and torches. A well-prepared winter emergency kit is invaluable in case of power outages or severe weather conditions.
Check batteries in safety devices
Ensure that smoke alarms and carbon monoxide detectors are fully operational. Replace batteries if needed, as these devices are especially vital in winter when heaters and fires are in regular use. Don’t overlook this winter safety tip.
5. Seal windows and doors
Caulking and Sealing
Examine windows and doors for cracks and seal them with silicone or caulk to prevent heat loss. Additionally, pay special attention to window sills, door frames, and skirting boards, as this kind of window sealing is an essential winter home preparation tip in the UK.
Upgrade to double glazing
If your budget allows, upgrading to double glazing can dramatically improve your home’s thermal efficiency. The benefits of double glazing in winter go beyond aesthetics, saving you money in the long run.
Winter in the Cotswolds and the Vale of the White Horse can be harsh, but a well-prepared home can provide comfort, safety, and cost-efficiency. By asking yourself ‘how do I prepare my house for winter’ and taking the time to inspect, maintain, and upgrade where necessary, you can ease into the cold months with peace of mind.
If a move is on the horizon, contact our experienced team.
Author: Elaine FordAre you thinking of investing in buy to let property in the Cotswolds and the Vale of the White Horse? Well, you’ve come to the right place. Becoming a landlord can be a rewarding venture, and in this guide, will walk you through the ins and outs of what could be an exciting journey for you. 1. Buy-to-Let basics for aspiring the Cotswolds and the Vale of the White Horse Landlords Let’s kick things off by covering the fundamentals: What is Buy-to-Let?
Investing in buy to let is where you purchase a property to rent it out to tenants. Location matters
Location is key so research and choose an area with potential for rental demand. Consider factors like proximity to schools, public transport, and employment opportunities. Think about what you’d want as a tenant, and that’s likely what others are looking for too. Budgeting
Calculate your budget carefully, considering not only the purchase price but also ongoing costs like maintenance and tax. Remember, investing in buy-to-let is a long game. You want to be prepared for the journey ahead. Create a budget that allows for unforeseen expenses. Purchase Price
Start by setting a budget for the property purchase. Consider whether you’ll buy a property outright or opt for a buy-to-let mortgage. Additional Costs
Don’t forget to factor in additional costs such as legal fees, stamp duty, and property surveys. These can add up, so it’s crucial to plan for them from the beginning. 2. Why location matters for the Cotswolds and the Vale of the White Horse rental properties
Property Type
Consider the type of property you want to invest in, such as apartments, houses, or student accommodation. Different types have different pros and cons. Apartments can be a great entry point for new landlords. They often require less maintenance, and you can start with a smaller investment. Houses offer more space and potential for higher rental income. However, they may require more maintenance. In a university town, student accommodation can be lucrative. There is often consistent demand, especially in areas with large universities. Research and Due Diligence
Don’t rush; do thorough research on the local property market and understand the demand for rental properties. Additionally, look at historical rental data, vacancy rates, and property price trends. Attend local property auctions and check online listings to get a feel for the market. Local Market Analysis
It’s important to understand the demand for rental properties, average rental prices, and the competitiveness in the area. Property Viewings
Before making a buy-to-let purchase, thoroughly assess the condition of the property. Look for potential issues that might require costly repairs in the future. Consider Future Growth
Look for areas with potential for future growth and development. Such areas often see property values increase over time. 3. Financing Your Investment
Money matters! Here’s how to make it work. Mortgages
Explore buy-to-let mortgages, designed specifically for landlords. These often require a larger deposit and have higher interest rates compared to regular mortgages. Compare rates and terms to find the best deal. Always consult with a mortgage broker for expert advice – contact our experienced team for recommendations. Interest Rates
Pay attention to interest rates, as they can significantly impact your monthly mortgage payments. Fixed-rate mortgages provide stability, while variable rates may offer lower initial costs. Deposit
Plan for a solid deposit, typically around 25% of the property’s value. A larger deposit can lower your mortgage repayments and improve your overall return on investment. LTV Ratio
The Loan-to-Value (LTV) ratio is the percentage of the property’s value covered by your mortgage. Lower LTV ratios can result in better mortgage deals. Contingency Fund
Always have a financial cushion for unexpected expenses or void periods without tenants. You never know when a boiler might need repairs or when your property might be temporarily vacant. Having a contingency fund provides peace of mind and financial stability. Emergency Fund
Your contingency fund should cover not only property-related expenses but also personal emergencies. It’s wise to have at least three to six months’ worth of mortgage payments saved. 4. Tenant Selection and Management
Now, let’s talk about the heart of the matter – your tenants. Tenant Screening
Conduct thorough background checks and interviews to ensure responsible tenants. Request references from previous landlords and employers. Additionally, look for a track record of paying rent on time and treating properties with care. Credit Checks
Run credit checks to assess the financial stability of potential tenants. A good credit history indicates a responsible tenant. Interview Process
Interview prospective tenants to get to know them better. Ask about their rental history, employment, and reasons for moving. Legal Responsibilities
Familiarise yourself with landlord responsibilities, including safety checks, deposits, and maintenance. The UK has strict regulations in place to protect both landlords and tenants. Make sure you’re compliant to avoid legal issues down the line. Deposit Protection
Safeguard tenant deposits in a government-approved deposit protection scheme. This ensures fairness and transparency in deposit return procedures. Repairs and Maintenance
Be prompt in addressing repair requests and conducting routine maintenance to keep the property in good condition. Gas Safety Checks
Ensure that gas appliances are safe and have annual safety checks performed by a Gas Safe registered Engineer. Electrical Safety Checks
Every rented property should have its electrical installations inspected and tested by a qualified electrician.This is to obtain an Electrical Installation Condition Report (EICR). It’s crucial to provide tenants with a copy of this report. Property Management in the Cotswolds and the Vale of the White Horse
Managing tenants and properties can be time-consuming, so consider your available time and expertise. Letting agencies like Perry Bishop can handle everything from finding tenants to maintenance. Letting Agencies in the Cotswolds and the Vale of the White Horse
Letting agencies can save you time and handle many landlord responsibilities when you are investing in buy to let properties. Importantly, as professionals, they have experience in tenant sourcing, referencing, and lease management. DIY Management
If you choose to manage the property yourself, be prepared for tenant enquiries, maintenance co-ordination, and rent collection. Good organisation and communication skills are essential. Building a Community of Landlords
Investing in buy-to-let properties can sometimes feel like a solo journey, but you’re not alone. Consider joining local landlord associations or online communities where you can:
By following these key steps and being part of a supportive community of landlords, you’re well on your way to success. Remember, every landlord started somewhere, and it’s okay to seek guidance along the way. Take the next steps to becoming a successful landlord If you’re investing in buy to let, we can help. Perry Bishop are your local Property Management and Letting experts in the Cotswolds and the Vale of the White Horse. Contact us for a no obligation chat, our knowledgeable and professional team are here to help. Author: Elaine Ford
Author: Elaine FordSelling your property is an exciting but often challenging time. To attract potential buyers and secure an offer, you may be thinking of staging a house on a budget! Indeed, to present your home in the best possible light, home staging is a worthwhile consideration. While professional staging services can be costly, you don’t need to drain your savings to make your property stand out. In this guide, put together by our team at Perry Bishop we’ll explore budget-friendly tips and strategies for staging your house on a budget when it’s on the market, ensuring it appeals to and catches the eye of prospective buyers. Maximising Kerb Appeal When Home Staging First impressions are crucial. When potential buyers drive up to your property, what they see from the outside can greatly influence their perception of your home. Here are some cost-effective ways to enhance your property’s kerb appeal:
Interior Improvements on a Budget Once you’ve captivated potential buyers with your home’s exterior, it’s time to focus on the interior. Here’s how to make your property look its best without spending a fortune:
Staged homely touches that make a difference To truly impress potential buyers, consider adding some homely touches in order to create an emotional connection with the space. These small investments below can yield significant returns:
Marketing your staged Property Staging your home is just one part of the equation. You also need to effectively market your property to attract potential buyers and estate agents:
Create a welcoming and appealing environment Staging a house on a budget is entirely achievable with some creativity and resourcefulness. Remember, it’s all about creating a welcoming and visually appealing environment that allows potential buyers to imagine themselves living in the property. If you are thinking of selling your property or would like help with staging your home, get in touch with our experienced team.
Author: Elaine FordIf you live in Gloucestershire, Oxfordshire or Wiltshire, autumn could well be the perfect time for you to sell up and move on. Yes, spring is often seen as the best time to sell, but we at Perry Bishop also find that autumn is a particularly buoyant time in the property market. Here’s 5 reasons why
1. Summer’s out and a new school year begins
In August, many people’s thoughts are preoccupied with lazing in the summer sunshine or going away on holiday. But once holidays and school breaks are over, the start of a new school year often ushers in a desire for a new home.
2. Seasonal scents
Setting the stage for a potential house buyer is crucial in making the right impressions. Remember, you’re not just selling a house, you are selling a dream or a lifestyle. That’s why autumn is an excellent time to sell your house. The changing colours of leaves, light drizzle and cooling air make it a perfect time to prepare your home. Imagine someone coming in out of the crisp coldness into a cosy house, with autumn fragrances in the air and a display of cherry and brown leaves, fir cones and berries beautifully arranged on a table.
3. Remove the stresses, speed up the process
It’s a fact that spring going into summer is traditionally the busiest period for the property sector. This means that all the professional help you need, including removal companies and conveyancers, will be exceptionally busy.
In the Autumn, fewer transactions could result in the conveyancing process being a little faster and you are more likely to get the removal company of your choice and on a date of your choice.
4. Attract serious buyers
In the autumn we always see that it’s more serious potential buyers who get in touch. These are the ones who will want to see properties to actually move to – they won’t be the time wasters, just having a nose around to see what’s happening, with no real intention to buy.
5. Stand out
If your property goes on the market in the autumn, it’s more likely to get noticed, compared to the traditional spring influx of properties. This is particularly true when you see how our exceptional photography and drone service will show off your home to its best advantage. Our twilight photography option also works particularly well at this time of year. By standing out from the crowd you will attract the best buyer and achieve the best price.
You should see autumn as a season of opportunity, knowing that someone will fall in love with your property. If you’re considering a move this autumn, we are here to help.
Our team are here to help you start your moving journey and can pop 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.
We care about property. We care about you.
|