Whether you’re selling your home or looking to rent or buy in Gloucestershire, Oxfordshire or Wiltshire, choosing a great estate agent is a hugely important part of the process. Pick the right agent and your transaction is much more likely to go off without a hitch. You’ll be able to find the house of your dreams or get your property off the market much more quickly.

The question is, how do you distinguish between a great estate agent and a mediocre one? It can be hard to tell at the initial stage when the agent will be on their best behaviour trying to pitch their services to you. Luckily, there are some signs to look out for. Read on to find out how to spot a great estate agent:

1. They’ll have excellent online reviews

Thanks to Google, it is no longer possible for any service provider to get away with lousy service. Customers and clients can easily leave bad online reviews which will affect their future business. Look online before you decide on an estate agent. If they don’t have their own reviews section, Google Business usually has honest reviews from customers.

Search for reputable estate agents that have verified reviews. If they’ve delivered exceptional service in the past, it’s likely, they will again. The same applies to those who have delivered bad service and have poor reviews – avoid them!

2. They’ll often come recommended

One of the best ways to start your hunt for a great local estate agent in The Cotswolds is to ask around for recommendations. If anyone within your friends and family circle is personally vouching for an estate agent, they’re likely to provide excellent service. It also adds an element of credibility, as the recommendation is coming from someone that you know and trust.

3. They’ve been doing this for a while!

Find someone equipped with the experience you need to navigate the property market. Gain an understanding of how much experience your estate agent has before choosing them for your home move.

The more experience an agent has navigating the housing market, the more easily they’ll be able to spot any issues and help you circumvent them. They may also have partners that they can recommend to help you with your move, such as independent surveyors and removal companies. If you’re buying or renting, we’d recommend opting for someone just like us as we have great local knowledge of the The Cotswolds area.

4. Their average selling time speaks for itself

One of the signs of an effective estate agent is how quickly they can work to move your property off the market. While you want to ensure that they don’t rush the process and achieve a good price for your property, you also don’t want to wait too long when you’re ready to sell your house. A great estate agent will be skilled on how to market your property and will be able to find interested buyers and line up viewings until they get your house sold.

So, how do you find out whether your estate agent will be effective at selling your property? Ask them what their average selling time is. Beware of those with very short selling times, as this could have been done at the expense of price.

5. They offer a fair property valuation

To value a house accurately is a lot more work than you may think. All estate agents know that the property valuation you offer them could lead to you choosing to hire them or not, and they may adjust their valuation accordingly. Some agents may decide to overvalue the property to tempt you into working with them, only to reduce this to a more realistic valuation once you’ve chosen them. Opt for an estate agent that gives you a realistic valuation from the start that is aligned with the market value.

It’s perfectly okay to ask an agent to explain their valuation if you think it’s too high or too low. A great estate agent will happily explain their reasoning for their valuation and break down why they’ve given those numbers.

6. They have good communication skills

This is less easy to ‘measure’, but it’s one of the most important things that make up a great estate agent. They should be friendly and communicative so you can be sure that you will be kept informed throughout the process.

Suss out their communication style with a simple phone call or video call, although keep in mind that all agents will be putting their best foot forward at this stage!

If you are planning a move, why not get in touch. As one of the leading agents in the region, we have lots of great properties to choose from and reviews of our service speak for themselves. Contact your local branch for an expert, friendly service.

There are a number of reasons people become residential landlords. Often, it’s because someone wants to do more with their savings and sees property as a sound investment with a regular income. It might also be that a person becomes an accidental landlord after inheriting a property or moving into a house with a partner.

Here are seven things to think about when becoming a landlord.

1. Set-up costs

Finances matter, the numbers have to stack up. If you’re going to obtain a buy-to-let mortgage, the lender needs to know about your income, and what rent you hope to achieve. They have to ensure that you can cover the costs. You’ll probably have to pay for surveys too so they can be sure the house is worth what you think it is. Then there are the legal fees and the search costs. Many law firms who specialise in conveyancing will be able to give you an early indication of what your final bill will be.

2. DIY or use a lettings agency

You could manage the property yourself, and many do as it helps to reduce costs, but you should decide what is best for you. Do you want to use a lettings agency to find you a tenant and arrange the initial agreements? You can then keep on top of things for yourself. Or would you rather hand over all the management to the agency? This will certainly reduce the pressures on you, but will come at a cost as the agency will take a fee for doing this.

3. Insurance

When you are renting out a property, you should obtain landlords insurance. This is because a home insurance policy will not cover you for what you need, and also because the right insurance will protect you, your property and your tenant. If you’re taking out a mortgage to buy the property, your lender will insist that you have insurance. The costs of insurance will vary depending on the level of cover, such as personal liability, contents cover and buildings cover, and loss of rent cover. Speak with an insurer or a broker and be absolutely clear about what you need.

4. Furnished or unfurnished

Whether you rent out a property that is fully furnished or unfurnished is a decision you need to make early on. If you’ve inherited a property, then it might well be an easy decision. If this is the case, you might find this suits a potential tenant, and you will be able to get a better monthly rent. If you rent out a property unfurnished, obviously it means you don’t need to buy things for it. Some potential tenants prefer this as they can put their own furniture in and make it their home. Don’t forget; it’s best practice to get an inventory carried out as this will affect your insurance policy and could minimise disputes at the end of an agreement.

5. Paperwork

One of the top tips for being a landlord is to be well organised and up to date with paperwork from the start. It may seem daunting having a lot of documents, but organisation is key. Not only will this ensure you don’t fall foul of any legal responsibilities, but it should also mean that if any disputes arise, you know straight away where things are. (It’s also particularly useful when you’re doing your accounts or checking information).

6. Legals & Responsibility

There are certain legal obligations and responsibilities that need to be understood. These are in addition to the tenancy agreement that you and your tenant should be signing. For example, before a property is let, you’ll need an up-to-date Energy Performance Certificate for it. A gas safety certificate is required for each gas appliance in the property, each home has to have smoke alarms and a carbon monoxide detector and any appliances or furniture must meet the required safety standards. There are also rules about a tenant’s deposit and how it is kept in a Government-approved scheme. If you need help with any of these, we can advise you.

7. Right to rent checks

A relatively new aspect of renting out a property is the need to carry out a Right to Rent check. A landlord must, by law, check whether a potential tenant has the legal right to rent a property in the UK. Failure to carry out the required checks could result in hefty fines so if you do need advice, then contact us and we will be delighted to help.

For expert property advice and becoming a landlord, contact Perry Bishop’s award-winning lettings team. They can answer all your questions, introduce you to potential buy-to-let investments, maximise your rental income and guide you with regards to the right service option.

We are currently reviewing our brand strategy and would really appreciate hearing your thoughts on Perry Bishop by completing our short survey. It shouldn’t take longer than 5 minutes and one of you will be in with the chance of winning £100 in John Lewis vouchers. Maybe you could treat yourself to something new for your home – the decision is yours!

The closing date is 9.30am on the 4th May.

Here’s that all important link to our survey:

https://www.surveymonkey.co.uk/r/PERRYBISHOPSURVEY

Thank you and good luck!

Working from home or hybrid working – working from home some of the time – is now a major part of people’s lives. For some, working from home has been the norm for many years, while for others the concept is still a little confusing.

What’s important though is that your home office is somewhere you feel comfortable, can work competently and efficiently. Work has to be done, whether it’s in a purpose-built office or in a spare room.

So what should you be thinking about when setting up the perfect home office?

Do you need to separate work life from home life?

Do you need space to make calls, write, use the computer, analyse data?

For most, both of these things will be important, so think about where your space is going to be. Is it a corner in the dining room or kitchen, or will it require the spare room, garden shed or integrated garage to be completely transformed?

Once you’ve decided this, then you can look at what you’re going to do with the space. Make a list of what you need or want in your office space, and then prioritise the items.

1. Refurbish and repurpose

Setting up a home office doesn’t mean breaking the bank. Do you already have a desk or table in the garage that simply needs to be repainted? Do you have a few jars in the shed gathering dust and cobwebs? These could easily be washed and cleaned and used for pencils and pens and other stationery items. Make the most of what you already have to hand.

2. Don’t get hung up on buying expensive prints

Here’s an idea, instead of going to big chain stores and buying prints to hang on the wall, print out a favourite photo and buy a frame in which to put it. Not only is this a cheap way to furnish your office, it’s also more personal. Instead of spending a ton of cash on prints of New York skylines or forest glades, you could have an image of a favourite family holiday instead. These will look great and they will be inspirational too!

3. Be thrifty

If you think you need an office desk, or filing cabinet, then you could be thinking ‘expensive’. But wait. There’s no need to hot-foot it to your local office furniture shop. Why buy new when you can find what you need simply by asking around?

It might be that a local company has moved or scaled-down its office operations and is giving things away or getting rid of them cheaply.

A friend or family member might have something you can make use of. Why spend a lot of money when you can find something cheaper or free? Keep an eye out on social media in particular and don’t be afraid to ask.

4. Use blackboard paint

Feeling creative? If you’re one of those people who needs to draw up creative ideas, or throw ideas on a mind map, then blackboard paint is for you.

For just around £7 a tin, you can paint a blackboard area on part of a wall. You can then write on the wall with your creative ideas or formulae, and then simply wipe it clean afterwards. You will save on having to buy any equipment, and paper too, so you’re also doing your bit for the environment.

5. Double the size with mirrors

Working from home can often mean working in a smaller space than you’re used to, but have you thought about mirrors?

A cleverly-sited floor-standing mirror will make your space immediately look bigger. Wall-mounted ones will also do the trick, as long as the frames are quite thin. It’s a trick that interior designers and retail outlets use so you should also make use of it. A floor-standing mirror from IKEA will cost from £50 upwards, and large frameless mirrors are only around £15 or £20.

Designing and realising a home office is a personal thing, so get creative. Minimalist or packed with items, with a little thought, creating your home office doesn’t have to be an expensive project.

If you’re thinking of upsizing instead, and treating yourself to a property with a ready-made study, call our friendly team at Perry Bishop and we will be delighted to assist you.

Leading property portal, Zoopla, have just published their monthly House Price Index which confirms a now familiar picture of demand exceeding supply – up an incredible 27.5% increase year on year – with particular pressures in certain areas and on certain properties.

You can read the full report here.

If you are looking to take advantage of the resulting growth in house prices, please talk to your local branch of Perry Bishop. We are here to advise and help you with your next move.

 

Spring has arrived and with it the sunshine to brighten up our days – a real tonic after a challenging few months living under lockdown 3.0. With the success of the vaccine roll-out and the gradual easing of restrictions, the future suddenly seems a lot brighter too.

For those looking to sell, the Spring market is already looking exceptionally buoyant. Rightmove has declared it the “strongest spring sellers’ market in the past decade” reporting record numbers of visitors to their site – 40% up on this time last year. March saw a rise in the average property price of 0.8% (+ £2,484) and a 12% uplift in sales agreed year on year. Here at Perry Bishop, our results mirror Rightmove’s findings – we sold an incredible 120 properties in March and were pleased to have helped several families and individuals in our region move on to the next chapter in their lives.

It appears that the trend of working from home, at least some of the time, will continue even after all restrictions have been lifted. This is fuelling a flight from our cities and driving up demand for property in our part of the world. And it comes as no surprise that top of the wish lists for those looking to move is outside space and an office for homeworking.

Although the lifting of restrictions makes the process of looking for and buying a property that much easier, your safety continues to be our main priority. We are set up to conduct both valuations and viewings either in person, following strict national guidelines, or remotely.

If you’re struggling to find exactly what you’re looking for do consider taking advantage of our low-key marketing service – your property is brought to the market on a discreet basis and only buyers willing to wait and give you time to find an onward purchase are notified, ensuring you’re in the best position when the right property comes along.

Do get in touch if you’re thinking about a move this Spring and would like to find out how much your property is currently worth. We’re here to answer any of your property-related questions. Our award-winning teams look forward to helping you.

As we celebrate the next milestone in the easing of the lockdown, with a long overdue trim and a drink in a beer garden, we take stock of how property buyers’ interests and demands have changed over the past twelve months.

Covid19 has changed many things in our lives. It has altered our outlook, our expectations and our ambitions, and it has changed the way we live or want to live.

Over the past year we have experienced this in an evolving list of property buyers’ aspirations. The usual essentials are still there – right price, enough room and attractive location – but now a secondary list of important requirements has appeared as buyers seek to change their lifestyles in the light of the pandemic.

Here are some of the important features being sought by post-Covid buyers today.

Zoom Room

Homebuyers are attracted by a dedicated office space for home working.

Homecation Facilities

Not everyone wants a pool, but room for some little luxuries is proving popular.

Multigenerational Living

With more millennials and GenZs moving back home, and room needed for housing elderly family members, the hunt is on for adaptable properties and those with space to extend.

Gourmet Kitchen

During lockdown many people brushed up on their cooking skills or even learned from scratch. Now the demand is for better-equipped kitchens.

A Garden Oasis

Lots of us have discovered gardening during the lockdown while others want room to play and exercise. More people than ever are seeking good outside space following the strict social distancing rules.

The Suburbs are Back

A little more space, lower prices and happy communities are driving buyers out from big cities. But some buyers aren’t quite reaching the countryside.

The Health Conscious Home

Zoom fitness classes and networked exercise machines mean areas for wellness are a top priority.

Space for the Pets

Pet adoptions increased in 2020. Many homebuyers are looking for pet-friendly features. Most are thinking about cats and dogs, but some are thinking about horses.

Seating for Eating

Increased cooking expertise and a desire to spend more time with family and friends has meant a stronger focus on larger dining spaces.

New Homes

A home with the patina of age is important to many. But to others a new start often means a brand new home where a clean slate and customised fittings can help to begin things afresh.

If you are thinking of selling your property and it has one or more of these features do call your local branch of Perry Bishop for a chat.  We look forward to helping you with your next move.

Perry Bishop’s lettings team are delighted to have chosen Heart Heroes as their Charity Partner of the Year.

Heart Heroes supports families of children in the South West living with congenital heart disease and heart problems, providing physical and emotional support. This small but dynamic charity:

• Supports children with heart diseases aged 0 – 16.
• Organises events and provide socialising opportunities for children to attend.
• Introduces families with similar experiences so that they can support each other.

To find out more about the work of this charity and to find out how you too can help visit Heart Heroes

We are thrilled to lend our support to this wonderful charity who are making such a difference to the lives of children with heart conditions and their families.

Tammy Powell, Lettings Manager Perry Bishop

You’ll probably know this already if you are a landlord, but if you don’t yet, you should get to know it – because rental yield is important!

But, what is rental yield and what do you, as a landlord in The Cotswolds need to know about it?

Put simply, rental yield is a way to measure the return on your investment. There is your gross yield and your net yield, which are both important, but take different things into account.

Let’s say you rent out a two-bedroom property in The Cotswolds for £850PCM.

As an example, if you originally purchased the property for £150,000 and you divide the annual rent (£10,200) by the amount you invested (£150,000) and times it by 100, you get a percentage, and that’s the gross yield. In this case 6.8%.

Gross yield is a fairly basic figure but it gives you a good idea about what you’re getting back. However, there is also net yield. This is similar to gross, but you also take into account the additional costs you incur as a landlord, such as insurance, maintenance, solicitors, agents, mortgage, and so on.

This net yield is helpful because you can look at exactly how much it costs you to be a landlord and shows you where you could reduce costs to increase your yield.

Deciding what a good yield is might be different, but anything above about six or seven per cent is good.

Our team at Perry Bishop are adept at helping people make the most of being a landlord, and we have come up with a list of five ways landlords can increase their rental yield.

If you need more help or any clarification, simply get in touch with us with our Lettings Manager Tammy Powell  tammypowell@perrybishop.co.uk.

1. Review Rents Regularly

Here’s a simple way of helping to increase the rental yield. At the appropriate time, look at the rental income on a property – can it be raised to be more in line with the going rate? Make sure you keep within your contractual agreements, though and remember that while a rental increase may be right for you, if a tenant has been with you for many years and has caused you no issues, do you want to upset the apple-cart?

2. Review Your Outgoings

Let’s look at what you are spending on your property. Do you automatically renew your insurance, or is there a more competitive alternative on the market? If you use a plumber, are their costs expensive, or can someone do the same job for a lower price?

Keep on top of your outgoings, and set reminders to look at alternatives when the time comes. Being a landlord is a business, so treat it as such.

3. Check Your Mortgage Renewal

You may have a buy-to-let mortgage for your property, but is it still the right one? Many different products are being brought to market, so when you’ve come to an appropriate point in your mortgage agreement, have a look around.

Always be mindful about switching. Keep an eye on the media for different products and even though it might not be the right time immediately, make a note so that you can go back to it when you are ready.

4. Invest Wisely

When you are thinking about becoming a landlord, do your homework. Look at where to spend your money, but also at the type of property. Do you want a newer property with less maintenance, or do you want an older place with the risk more could go wrong?

If you have a plan and it works, don’t deviate. If you have a good yield because you’ve got a newer home, stick with the idea when looking at another buy to let.

5. Be a Better Landlord

You’re more likely to get a better yield if you have a great property and great tenants (and yes, both can be achievable). But, can you be a better landlord?

• Do you add quality fittings?
• Do you respond quickly to issues?
• Do you get things fixed promptly?

By being a great landlord, you’re more likely to attract great tenants and be able to justify higher rents.

You assess a house and a tenant – why not assess yourself and see how you could be a better landlord. It makes business sense.

Having the right tenant in your property is more likely to help with yields. If they look after the house, your costs are likely to be lower.

Of course, for total efficiency, we suggest you consider using a lettings agent to help manage your property portfolio. A full expert property management service will help you make the most of being a landlord.

If you need advice about becoming a landlord, or if you are a landlord and need some support,  chat with a member of our friendly and experienced team.

The number of laws affecting lettings currently stands at just under 200 and every year this list is becoming longer! For landlords, keeping abreast of all these changes and remaining compliant is increasingly challenging.  Existing let-only landlords –landlords who wish to self-manage their own tenancies – can now take advantage of a brand new service launched by Perry Bishop Lettings called Let Assist.

Ensuring landlords stay on the right side of the law by providing professional assistance with all legislative requirements, Let Assist not only enables landlords to enjoy peace of mind but also offers the following added benefits:

• Annual Rent Review
• Annual Property Inspection
• Annual Property Valuation

For further information please get in touch with Perry Bishop’s lettings team