Why is Proptech so Important?

As a landlord in the Cotswolds or The Vale of the White Horse you may be aware of the term ‘proptech’ but not fully understand what it means! Of course, it’s also possible that you’ve never heard of it at all! So, here, we take a look at what ‘proptech’ is, why it’s important, and what, as a landlord, you should know about it.

Proptech – What Does It Mean?

In simple terms, ‘proptech’ is a short way of saying ‘property technology’. Essentially, it refers to all kinds of technology related to the property sector. From property advertising portals to video property tours, and from virtual document signing to online rental payments, proptech covers a range of bases and makes it far more convenient and speedy to market a property.

Let’s look at the key proptech tools that landlords can make use of.

Online Valuations

When you’re letting property in the Cotswolds or The Vale of the White Horse you should be aware of the value of your property at all times to calculate your ROI and the amount of equity you have. You can use online portals with free-of-charge valuation tools so that you can get a rough estimate of what your rental property could be worth without needing to obtain a full market appraisal.

Digital Tax Software

Self-assessment tax return errors are commonplace, especially for landlords who can struggle to track their expenditure and income over the course of a year. From 6 April 2024, landlords with an income of over £10,000 pa must download Making Tax Digital compatible software and keep digital financial records. Although this change hasn’t yet come into force, landlords can transition to the new software now to save time, effort, and stress.

Databases To Find Contractors

When you need to find a reliable tradesperson to carry out gas safety checks, complete repairs, or perform ongoing maintenance on your rental property, using online databases can help you find accredited, qualified, and registered contractors in the Cotswolds or The Vale of the White Horse. When you choose a tradesperson from these databases, you can be confident that the work will be done to an appropriate standard, keeping your tenants happy and ensuring you don’t invalidate your insurance.

Investing In Rental Property Smart Tech

Every good landlord knows that happy tenants stay in properties for longer, and as technology is the way of the future, investing in smart technology for your rental property represents a great way to improve their satisfaction in their home. Smart electricity and gas meters can be fitted, along with smart thermostats, smart plugs, eco-friendly appliances, smart water sensors, and even water-saving showerheads that can help your tenants save money.

Software For Property Management

If you manage your own rental properties, having software that’s capable of tracking your rental business tasks and property information in a single location and reminding you whenever something needs to be done can be extremely useful.

Unfortunately, no software has yet been developed to carry out property inspections, deal with your tenant’s queries, or arrange repairs and maintenance, so it’s not surprising that many landlords now turn to professional letting and property management agents like Perry Bishop who can do all the hard work of practical property management of their behalf.

Landlords who choose Perry Bishop to manage their property portfolio benefit from the very best prop tech coupled with great personal service. The Perry Bishop portal enables you to kTo find out more about how we can help you to find the perfect tenants for your rental property in the Cotswolds or the Vale of the White Horse and to learn about our property management service, contact our lettings team at your nearest Perry Bishop branch.

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Did you know that huge numbers of home owners use Rightmove to search for a new home between Christmas and New Year?  On Boxing Day, traffic to Rightmove peaks as conversations lead to a desire to upsize, downsize and move onto the next chapter. Last year the portal recorded its busiest ever Boxing Day for visits to its site and apps – as both prospective buyers and sellers made it their resolution to move in 2022.  So, if you’re considering a move and want to ensure that your property reaches the biggest audience, it makes sense to list in time to capitalize on the post-Christmas buyer surge.

“Boxing Day traditionally signals the start of activity ramping up as people turn their attention from turkey and trimmings to their plans for [the year ahead]” – Tim Bannister, Rightmove

At Perry Bishop we have a high number of buyers registered who sold and moved into rented accommodation between 2020 and 2022, who still need to find their next home and for whom continuing to rent is not an option.  They will make their move happen in 2023.

We have extensive knowledge of selling in all types of markets and can tailor a bespoke marketing strategy to you and your timescales to get you the best outcome.  This is why we are recommended and positively reviewed by so many of our clients.

Thinking of selling and want your property to be seen by the biggest audience of the year? Talk to your local Perry Bishop office. Our advice is free – lets chat.

Have You Heard The Saying About Not Mixing Business And Pleasure?

At Perry Bishop we sometimes meet sellers who have considered selling their home privately to someone they know rather than using an estate agent’s services. Yet, while this may appear to be a simple way of saving money and time, it isn’t without its potential downfalls.

Property Sales = Business Deals

You’ve probably heard the saying about not mixing business and pleasure, and it’s important to remember at the end of the day, selling your property is just another business deal. Entering into a business deal with a friend can present a host of possible issues.

For a start, a large amount of money will be involved, and in such cases, separating your friendship from business sense can be difficult. For example, what would you think and feel if the survey revealed a problem that you knew nothing about that prompted your friend to request a price reduction? What would you do if they said they couldn’t raise enough money and could they purchase your property at a lower price?

Dealing with Third Parties

You should bear in mind that any third party involved with the process won’t be familiar with your friend and may not want to take any risks. Estate agents must look after the interests of their sellers, and so they ensure the buyer is serious about the purchase and has sufficient funds as well as a strong property chain in order to see through the deal.

Private sales can make chains more risky and complicated than usual. Frequently, private buyers don’t engage with estate agents in the normal way, and that makes it extremely hard to carry out due diligence processes. Without such processes being properly undertaken, the chain is at risk of collapse.

Undertaking Work Yourself after Agreeing a Sale

There is a common misconception that after you’ve agreed on the sale of your home to your friend the job is complete. However, a considerable amount of work still needs to be completed. If you’re selling privately, you’re responsible for undertaking all of this yourself. That can be time-consuming, stressful, and overwhelming.

Most property sales are part of a chain, and that means multiple parties are involved in the process. As you can imagine, things can become very complicated as a result. Usually, the estate agent deals with everything, ensuring everybody involved in the chain is progressing at the correct pace.

They also speak with surveyors and solicitors and make sure money laundering checks have been properly handled within the correct timeframe. Dealing with all of these elements on your own isn’t easy and can give rise to some significant and costly mistakes.

If you’re ready to sell your property without having to deal with the complications and stress yourself, or if you don’t want to risk losing a friendship over a property sale, give your local Perry Bishop team a call now.

Good Question! But There are Many Factors to Keep in Mind

In the Cotswolds and the Vale of the White Horse, property prices have risen consistently this year, and that’s great news for sellers in the Cotswolds and the Vale of the White Horse who want to get the best possible price for their home. So it isn’t surprising that many sellers choose to use the estate agent that gives them the highest valuation for their property.

But is that always the best decision?

It may seem like a no-brainer to go with the estate agent that is giving you a valuation figure far above the others. But there are factors to keep in mind before you make your final decision. The team at Perry Bishop want you to know how crucial it is to understand the importance of a correct valuation. We want to help you make a properly-informed choice when you’re selling your home in the Cotswolds or the Vale of the White Horse.

An Overvaluation May Make Your Property Become ‘Stale’

Some estate agents are prepared to do whatever it takes to get new business, including overpricing properties to persuade sellers to take up their services. We totally understand that it’s very tempting to choose the estate agent that suggests you list at a high asking price. But remember that if they have overvalued your home it could sit for months on the market without any buyers showing interest – essentially, it becomes a stale property. Eventually, you’ll have to reduce your asking price to sell your home and that never looks good to prospective buyers.

The Importance of Price Banding

All prospective property buyers have a budget that they’ve set for themselves, and will only view properties fitting into that criteria, usually with a small buffer margin just in case. When a property is overpriced, you’ll miss out on prospective buyers who are searching for a house just like yours but who never see it in their searches because it’s been valued above their maximum budget limit.

A realistic valuation, on the other hand, will bring your home within the budget of more potential buyers, and if there’s enough interest you could find that your property is the subject of a bidding war where purchasers are prepared to push their financial boundaries just to secure your property. This approach could see you getting a higher sale price for your home than you would have if you’d gone for the higher valuation in the first place.

Getting an Expert Appraisal

It couldn’t be more important to choose a reliable firm of estate agents like Perry Bishop when listing your property for sale in the Cotswolds and the Vale of the White Horse. A trustworthy company will always be honest, transparent, and straightforward, and will use their local knowledge alongside information about the current property market conditions to give you the most accurate and realistic valuation for your home.

Get Help

To find out more about our property valuation process and to learn how we can help you find the perfect buyer for your home, call your local Perry Bishop office.

We care about property. We care about you.

With the cost of living on the rise, it’s never been more important to know how to keep your home warm this winter.

As the colder weather is on its way and energy costs are rising faster than ever before, it’s never been more important to know how to keep your home warm this winter. Whether you own or rent your property in the Cotswolds or the Vale of the White Horse,  finding ways to reduce your costs couldn’t be more vital this year. With this in mind, the team here at Perry Bishop have 6 helpful tips for you to put into practice so that you can stay toasty without breaking the bank.

1. Bleed Your Radiators

Check your radiators to see if they feel colder at the top than at the bottom. If so, there may be some cold air trapped inside which is stopping hot water from filling the radiator and preventing it from heating up. You can fix this problem by bleeding your radiator to release the trapped air. The hot water will be able to start flowing inside again, and that will allow even heating of the radiator to heat the room more effectively.

2. Keep The Top Of Your Radiators Free

It can be tempting to put your damp laundry on your radiators to dry, but if you allow the top of your radiators to become covered with clothing (or indeed, any other items), the warm air won’t be able to flow, and that will stop the heat from circulating. Use a clothes airer instead or dry your laundry outdoors whenever possible.

3. Add Effective Draught Proofing

Make sure to draught-proof any areas where cold air could be creeping into your rooms. Draught excluders can be purchased for use with your doors, and you can buy foam self-adhesive tape to apply to your windows. Think about your keyholes and letterboxes too. You can buy items in DIY stores that will block out any cold air coming through these small gaps.

4. Consider Furniture Positioning

Move furniture items such as sofas and beds away from your radiators so that the flow of warm air won’t be blocked. Whenever possible, put thermal curtains up at your windows and doors too. This will help keep the warmth in your rooms.

5. Insulate Your Property

If you own your own home in the Cotswolds and the Vale of the White Horse, make sure you have sufficient insulation in your loft, under your floors and in your external walls as well as around the hot water cylinder. If you’re a tenant, it’s worth speaking to your landlord about insulation.

6. Service The Boiler

If the boiler in your property is inefficient, your energy bills can take a serious hit, so make sure you’re getting it serviced once a year and that your thermostats are frequently checked too. If the thermostat is old, it can sometimes delay the heating up of your home, or alternatively, could heat it to a higher temperature than necessary.

Follow our tips, and you should find that your home feels warmer this winter. If you’re interested in buying or renting a more energy-efficient property, get in touch with your local Perry Bishop team today.

We care about property. We care about you.

What Is Meant By The Term ‘Covenant Of Quiet Enjoyment’

When it comes to rules and regulations, there’s a lot that landlords in the Cotswolds and the Vale of the White Horse need to keep in mind, and it isn’t surprising that here at Perry Bishop, we often encounter some confusion, especially when it comes to their right to access the property.

After all, legally, a landlord is held responsible for repairs and safety, and they can be hit with financial penalties if they fail to comply. But if they enter their property without permission from the tenant, they may end up being sued for trespassing and breaching their tenant’s rights under the “Covenant Of Quiet Enjoyment”.

Here, we take a closer look at this covenant and what it means for both landlords and tenants alike.

What Are The Rights Of The Tenant?

Tenants legally are entitled to “Quiet Enjoyment” of their rental property. This covenant has been implied or expressed in leases and conveyances for centuries. Essentially, it means that landlords must allow their tenants to reside in their property with no undue interference. The term “quiet enjoyment” is frequently misunderstood and misinterpreted.

As long ago as 1888, landlords were confused by the use of the word “quietly” in this context. In the case of a tenant’s rights, “quietly” simply means “without interrupting their possession of the property” rather than “without noise disturbances”. In brief, it means the tenant is entitled to live at the property peacefully without the landlord (or anybody who acts on their behalf) disturbing them.

What Are The Rights Of The Landlord?

The 1988 Housing Act and the 1985 Landlord and Tenant Act both state that all tenancy agreements should have a covenant stating that tenants are required to give the landlord reasonable access to carry out repairs on the property. Landlords are also legally entitled to view their property’s condition as long as they give at least 24 hours notice about the visit in writing and only access the property during “reasonable” hours.

Achieving The Right Balance

Landlords in the Cotswolds and the Vale of the White Horse generally experience two kinds of tenants – ones who are happy to allow them to access the property without any issues and who are happy their landlord is actively maintaining their property and ones who demand that they’re present during any inspection or maintenance visits.

As the landlord, it’s down to you to determine the best way to work with your individual tenants and to forge a positive relationship with them.

Although it can be difficult to balance your legal obligations as a landlord with your tenants’ rights under the “Covenant of Quiet Enjoyment”, it’s entirely possible to manage the situation effectively if both parties can adopt some pragmatism and mutual respect.

When you work with the lettings team at Perry Bishop, we will handle all aspects of liaising with your tenants and ensure that you remain compliant with your legal obligations at all times.

We care about property. We care about you.

Selling your home in the Cotswolds or the Vale of the White Horse is not always easy. Get things right though, and it can open up a move to a new place and somewhere to start the next chapter of your life.

We often talk about styling properties, tidying up and making things neutral – in fact, we often advise people on how to make the most of the house they are selling because we’ve got tons of experience and expertise on this topic!

But what many other estate agents forget to do, is offer advice on what home sellers should avoid doing.

Here, we look at five mistakes that home sellers should try to avoid.

1. Getting the asking price wrong

As a seller, you want the best price you can get for your property – that’s a given, and why not? Of course you’re going to want to put more pounds in your pocket.

But, sometimes, sellers want too much. Despite the expert advice of their estate agent, sellers want more than the property is actually worth. And by marketing the property too high, often against the advice of their estate agent, they can be putting people off.

If your house is too expensive for the area or is priced much higher than a similar property that recently sold, then people will be turned off.

If they do view, the chances are they’ll make an offer which is deemed to be too low by the seller and not given fair consideration. But it’s not just over-valuing! Similarly, if the asking price is too low, perhaps for a quick sale, this too can put potential buyers off because they may think there is something wrong with the house.

Top Tip Trust your estate agent. We know how to value a house. It’s what we do!

2. Failing to think outside the front door

You’ve done your house up inside – the carpets are cleaned, tatty wallpaper has been replaced with a gleaming coat of paint, and all the toys and knick-knacks stowed away.

The thing is though, have you taken a look outside? What’s the all-important kerb appeal like? Are there bins by the front door? Is the front garden a bit shabby and the back garden a wasteland?

Some sellers forget to make a first impression, and for most people, that will be when they drive past.

Top Tip When you’re putting your house on the market, bear in mind that many potential viewers will do a ‘drive-by’ before booking a viewing. Add outside jobs to your list of things to do!

3. Choosing the wrong estate agent

It has been known for people to choose the wrong estate agent. Now, of course we would say we know our stuff – because we do! But you must choose an estate agent that knows the area inside out and has the experience of selling homes just like yours.

Top Tip Decide what you want from your estate agent and do your homework. Shortlist a few before deciding we were right for you all along!

4. Leaving it too late to put your house on the market

If you’ve seen a house that you like, but have a property to sell, don’t try and put in an offer before you’ve even thought about selling your current home (unless you can afford to buy without selling!)

Because the number of properties coming to market is still relatively low, if someone comes along and likes the same house but is in a better position than you, then you will almost definitely miss out.

Top Tip Speak with us about the process of getting your house on the market, including our Low Key marketing selling option.

5. Taking it personally when a viewer says your house isn’t right for them!

If you’ve spent a lifetime in your home, and have raised your children in it, it’s no wonder that you feel close to your house. Some people cannot separate the fact that they love a house with the fact that they are trying to sell it.

This means they are less likely to put things away and neutralise the property ready for viewings or will take offence if someone either doesn’t like a room or suggests knocking a few walls about. Strange as it may appear, some people even think about who they won’t sell a house to!

Top Tip Try and think of selling a house as a business transaction – or at least something that is going to free you up for bigger and better things!

If you think you need some expert help on the do and don’ts when it comes to selling, just give us a call and we’ll talk you through the process. Call your nearest Perry Bishop office to chat with a member of our friendly and experienced team.

Carbon Monoxide Alarms – New Responsibilities Are Being Placed On Landlords

Changes are now in force to smoke alarm and carbon monoxide alarm regulations in English rental properties. Since all landlords in the Cotswolds and the Vale of the White Horse need to be aware of these updates, our team here at Perry Bishop is here to bring you up to speed with the changes to the law.

Changes To The Regulations

Since 2015, all private landlords have been required to ensure that all rental properties have a minimum of one functioning smoke alarm on every storey that has a room in use as living accommodation. That regulation will remain in place, however, when it comes to carbon monoxide alarms, new responsibilities have been placed on landlords.

Previously, private landlords were also only required to provide a CO alarm in the property if it contained an appliance that burned solid fuel. However, since 1st October 2022, CO alarms need to be supplied in any living accommodation room that contains any fixed combustion appliance, including gas fires and gas boilers. Gas cookers are exempt from the change. If any new fixed combustion appliance is added to the property, a new alarm will also need to be fitted at the same time.

Furthermore, landlords will also become responsible for replacing or repairing any CO or smoke alarms during a tenancy. Previously, although landlords were responsible for testing and fitting the alarm when the tenancy began, the tenant was responsible for all replacements and repairs during their tenancy. Now, the entire burden of responsibility will fall on the landlord.

Is A Specific Alarm Type Required?

The change to the law has not stipulated any specific type of carbon monoxide or smoke alarm, so landlords are able to decide which one is best for their tenants and the building’s needs. Both battery-powered and hard-wired alarms are acceptable so long as they comply with the relevant British Standards.

Is There A Specific Location Where Alarms Must Be Placed?

There are no stipulations in the regulations about precisely where CO or smoke alarms must be placed or fitted as long as there is one on every storey with living accommodation in the case of smoke alarms, and in all living accommodation rooms that contain any fixed combustion appliance in the case of CO alarms. Nevertheless, smoke alarms are typically fixed to a ceiling, while CO alarms should be 1 – 3 metres from the potential carbon monoxide source and should be at head height.

What Will Landlords Be Required To Take Responsibility For?

Landlords are now responsible for installing the appropriate alarms and ensuring they are in full working order. They will be required to test the alarms on the tenancy’s first day and replace or repair any malfunctioning alarms that the tenant reports during their tenancy.

Although the tenant holds responsibility for reporting any issues with the alarms to their landlord, it’s still sensible for landlords to always check the alarms during routine visits and mid-term inspections. If the alarm is battery-powered, tenants can try replacing the batteries themselves, and only report an issue if they are unable to do this or if the battery change fails to resolve the problem.

How Can A Landlord Prove Compliance?

The local housing authority will enforce the updated regulations, and if a landlord is told they are non-compliant, they must take action immediately to repair or install the alarms. If landlords fail to comply with remedial notices, they may be fined as much as £5000 per breach.

To prove compliance with the regulations, landlords are advised to keep records of all alarm installations, tests, and repairs. An inventory carried out on the tenancy’s first day is the best way to keep these records, with the tenant signing to confirm everything is in order.

If you’re a landlord in Gloucestershire, Oxfordshire or Wiltshire and want to find out more about maintaining compliance, get in touch with your nearest Perry Bishop lettings team.

Are You A Landlord Who Wants To Minimise The Difficulties Of Managing Your Property?

If you’re a landlord in the Cotswolds or the Vale of the White Horse and you want to minimise the difficulties of managing your property by using the services of a lettings manager, knowing the right questions to ask is key to success! At Perry Bishop our dedicated lettings team have years of experience in the field and can give you expert insight into the top five queries.

1. Is There A Designated Team For Property Lettings?

If you’ve chosen a property manager that is part of a bigger estate agency which also handles lettings, you need to determine whether there is a specific team designated solely for rental properties. Any firm that has staff whose only purpose is serving tenants and landlords is sure to perform, so ensure you’re choosing an agency that will dedicate themselves to rentals.

2. How Many Rental Properties Are You Currently Managing?

Finding out how many rental properties the lettings manager is handling currently is a good way of judging how well they perform both on a company and individual level. Too few properties could suggest the property manager is inexperienced or ineffective, but if there are too many, they might be more difficult to reach and may not give you the level of personal attention you require.

3. What Types Of Rental Properties Do You Handle?

Of course, you want their answer to reflect your property type, however, it’s also good if the lettings manager deals with a broad spectrum of apartments and houses of different types. It indicates that they are capable and experienced and have the necessary skills and knowledge to help maximise your investment.

4. Which Services Do You Offer?

All property agencies offer their own services, so finding out precisely what your chosen firm can offer is essential if you’re going to determine whether it can match your needs. Draw up your list of requirements before speaking to your prospective lettings manager so you can cover every point during the meetings. Ask about the differences between the different service packages they offer and how they measure up to their competitors in the local area.

5. What Are Your Fees?

Fees are a vital aspect of choosing a lettings agent, and they have a significant effect on the bottom line of your property rental business. You need to choose a lettings manager with fees that fit into your budget; however, be wary if the company offer their services at too low a cost – there’s bound to be a reason why.

Discover how they make their charges – whether on a fixed rate or based on percentages – and whether you can tailor a package to your requirements. Make sure to check for any hidden fees like eviction costs, finder fees, account set-up charges, maintenance costs, or viewing fees before you sign any agreement. Make sure all their fees are set down in full in writing as you’d no doubt prefer to avoid unpleasant shocks in the future.

If you’re looking for a reliable property manager for your rental property in the Cotswolds or the Vale of the White Horse, look no further than Perry Bishop.  As experts in the local property market, we’re the number one choice for landlords in our area. Get the ball rolling with a valuation by getting in touch with your nearest branch.

We care about property. We care about you.

Although property has been changing hands frequently at Number 10, with Liz Truss now the latest of four residents to move in over the last 6 years, let’s explore how the wider UK property market has fared and take a look at what’s in store this autumn – in particular in the Cotswolds and the Vale of the White Horse.

The impact of Covid has had a dramatic effect on the market and continues to underpin many people’s decision to move – as ‘working from home’ or at least working part-time from home is now the new normal. An exodus out of the cities and the demand for homes with an office and more outside space – coupled with last year’s Stamp Duty holiday – fuelled an exceptionally busy 2021, particularly in our part of the world, resulting in a record numbers of transactions. This year the market has remained busy, albeit slightly less frenetic, accompanied by a month-on-month rise in the average house price – driven primarily by too many buyers chasing too few properties. In the last couple of months, prices have continued on an upward trajectory – albeit in smaller increments – as the number of people bringing their property to market has grown. Interest rates, which have been at an historic low for over a decade, are now edging upwards. This, coupled with inflationary pressures, are undoubtedly softening demand among first-time buyers and impacting those requiring a bigger mortgage to fund a larger family home. Many working in the property sector predict that the market will once again be driven by homeowner need, rather than lifestyle influences which drove the market during the pandemic.

Here at Perry Bishop, the teams have been very busy this year helping people on the move within our area as well as those moving into the area for the first time. Good quality family homes continue to attract good interest and with build costs at an all time high, a move remains preferable for many versus staying put and extending an existing property. As we move into the autumn, we find ourselves moving into a more price-sensitive market. We continue to list and sell well across our branch network, but at more competitive prices. We have also put numerous buyers in touch with our trusted mortgage advisors right at the beginning of the process to understand what they can borrow and to consider longer-term fixed interest mortgage deals in order to weather any further rate rises.

A summary at the end of August from Rightmove’s Tim Bannister (Director of Property Science) makes for interesting reading for anyone thinking of moving this Autumn.

“Several indicators point to activity in the market continuing to cool from the lofty heights of the last two years. It’s likely that the impact of interest rate rises will gradually filter through during the rest of the year, but right now the data shows that they are not having a significant impact on the number of people wanting to move. Demand has eased a degree and there is now more choice for buyers, but the two remain at odds and the size of this imbalance will prevent major price falls this year. For those looking to move who are concerned about interest rate rises, it’s important that they get a mortgage in principle early on in their moving journey to understand what they could afford to borrow, and find out about the rates available to them to assess what they are able to repay each month.”

The promise of an energy price freeze in October is welcome news and will help those budgeting to either buy their first or their forever home.  The government  is also set to cut stamp duty in a mini-budget on Friday, to stimulate further growth in the property market and help more young people buy their first home.

If you are considering a move this Autumn be inspired by our latest listings, all of which are featured on our website and many of which appear in the Autumn issue of our magazine At Home (or grab your copy in branch). Contact your nearest Perry Bishop office for an up-to-date valuation and advice on achieving the best price for your home. And join our VIP Buyers Club to be among the first to hear about new listings before they are advertised on portals like Rightmove and Zoopla. If a move isn’t on the cards for you but you know someone who is thinking of selling up, take advantage of our Refer a Friend scheme and enjoy £150 to spend in John Lewis.

We care about property. We care about you.