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Being a landlord is by no means an easy undertaking. Competition for exemplary tenants is fierce, maintenance can be costly and time consuming and your legal obligations can at times feel like a web of confusing, ever changing jargon. But get it right, and investing in a property can be one of the most lucrative and satisfying investments you can make.
With renting becoming increasingly expensive and in turn tenant’s expectations and demands becoming harder and harder to satisfy, take a look at our top 5 tips below to ensure that your property is in tip-top shape to help boost your rental yield and secure long term, happy tenants.
Think outside the house!
Don’t put potential tenants off with a drab and dreary façade or un-kept garden. First impressions count! The exterior of your property is a reflection of its interior condition. Keep it clean, tidy and attractive. In some cities, outside space is a luxury that comes at a premium, so don’t waste it! Not only can a well maintained garden act as an extension of the interior living space, but it can also help to secure long term, reliable tenants, and act as a strong selling point should you come to put your property on the market in the future.
Focus on the wow factor
The appearance and functionality of your property’s kitchen and bathroom should be at the top of your priority list, especially if you are looking to achieve the greatest possible rental yield. With the condition of these two rooms often being of the utmost importance to individuals looking to rent or buy, investing in bathroom and kitchen renovations, although often costly, can have huge benefits. Add value to your property, wow potential tenants, and justify your rental rate, all whilst minimising future maintenance requests.
Keep it clean
This may seem like an obvious tip, but we can’t stress enough the importance of keeping your rental property squeaky clean and clutter free. A full overhaul is not always needed, sometimes a fresh lick of paint and a deep clean can do just the job to turn a dull and dingy dwelling into a bright and attractive home. Hiring a professional cleaner is well worth the initial output for the results achieved.
Spruce, Spruce, Spruce!
Interior décor can play a major factor in the appeal of your property. Get it right and prospective tenants will be flocking for viewings. Get it wrong and your property could quite literally be left on the shelf. Keep it simple, neutral and homely. Staging furniture, lighting and props can help prospective tenants envision themselves living comfortably in your property.
House or home?
The excitement of becoming a landlord and renovating a property can often cloud the decision making process. Don’t forget that your primary goal is to make money from your investment. Over renovating and trying to achieve the picture perfect finish that you would like to see in your own home is not necessary. Remember that tenants will most likely view your property as temporary accommodation and will not treat it with the same care as they would their own home. Spend on what you need, not on what you want to maximise your profit.
Thinking of investing in a buy-to-let? Speak to a member of our lettings team today to see how we can assist you with advice on current investment opportunities in your area.
Please see below Easter opening hours 2017:
Good Friday - 9am - 4pm
Easter Saturday 9am - 4pm
Easter Sunday - CLOSED
Easter Monday - CLOSED
Tuesday 18th April - Normal Hours Resume
Leading local estate agents Royston and Lund are celebrating an exceptional achievement after Val Shakespeare, Sarah Jones, Gina Burbidge, Samantha Simkins, Matt Dennis, Liz Owen and Mark Daley from their West Bridgford team succeeded in gaining an advanced professional qualification.
After completing the necessary training, they have all been granted the title of Advanced Associate Members of The Guild of Property Professionals – the UK’s most prestigious network of independent agents to which Royston and Lund is delighted to count itself the exclusive Member in West Bridgford. Each office is carefully selected on the basis of its professionalism and commitment to highest standards of customer service.
To pass the examination, candidates are required to demonstrate thorough knowledge and understanding of some 40 modules. These are organised into four key components; Fundamentals of Effective Selling; Valuing and Property Appraisal Skills; Marketing and Property Promotion and Developing your Estate Agency Skill Set.
Congratulating the staff on their achievement, Gary Lund said: “We have always been proud to belong to The Guild, which represents the highest standards in independent estate agency. Now, through the individual efforts of our staff in successfully gaining Guild Associate status, which recognises their knowledge, skills and professional competence, we can also justifiably claim to have the best-trained team in West Bridgford.”
When instructing an estate agent to sell your home, it is crucial that you have trust and confidence in their professional abilities. Following its success in achieving Guild qualifications, Royston and Lund is now, more than ever, fully equipped to guide you on your journey thorough the property market.
more information, please contact us on 0115 9811888.
Our latest Royston
& Lund Sporting Achievement Award has been made and the joint winners were
Lucy Rich and Edward Day from West Bridgford Junior School. They received their
trophies in front of a packed assembly from Director Gary Lund. Both winners were
fine examples of how to conduct themselves on the sporting field, always having
a smile on their faces, whatever the result. As usual, we made a donation of
£200 to the school, to be spent on sporting equipment to be chosen by Lucy and
Edward. Congratulations to both of you from all of us at Royston & Lund!
We were delighted to be able to show Phil Spencer of Location Location Location, along with some potential house buyers around one of our properties last week. And we were even more delighted to agree a sale to them!
The couple who were looking for a property in the South Nottingham area were particularly keen on West Bridgford; the production company viewed many properties through us initially while shortlisting what they considered to be the 'hot properties'. Negotiator, Matt Dennis was then lucky enough to go back to their shortlisted property with Phil! Matt was thrilled to let Phil into the property, showing him and the prospective buyers around the house.
They loved the house and went on to arrange a second viewing, we are pleased to confirm that they went on to make a successful offer on the property!
Matt Dennis said "Phil was really impressed with West Bridgford and all of it's amenities, he was very happy to enjoy some down time at the local Central Avenue bars and restaurants."
We understand the episode will be aired later on this year (possibly over the summer) but we will keep you all posted. Matt's staring role is likely to feature at the end when he is on the other end of the phone to Phil, who makes an offer on their behalf!
We were delighted with the outcome of our Exhibition in London on Saturday, showcasing some of our properties to the London market.
As members of the Guild of Property Professionals, when you instruct Royston & Lund to sell your property it will be showcased through The Guild’s Head Office on Park Lane.
Using state-of-the-art touch screen technology, your property is at the fingertips of thousands of potential buyers and ensures that your property is publicised to the lucrative London and international investor markets on prestigious Park Lane in Mayfair.
If you would like any more information on exposing your property to the London Market, please give us a call on 0115 9811888.
For a lot of older homeowners today, downsizing can be a great way to have a good clear out after your kids have left home, but also a fantastic way to free up some equity from your home. This financial boost also will most likely come with the added bonus of a reduction in running costs as you move to a smaller home. While there are plenty of benefits of downsizing, moving home can still be a complex and stressful experience, so we’ve put together a quick guide on what to consider to help make your move a much smoother transition.
Decide what you REALLY need
The most important step to a successful downsize - and a step you’ll want to take as early as possible - is taking a good look at all of your possessions and cutting away as much as possible. This is the part where you have to consider your day to day life and think about how much you use all of these items. You should ask yourself, do you still need all of that seating in the living room, or do you need such a large dining table? If the answer is ‘no’ to these sorts of questions, then it’s time to start dividing item into the ‘keep’ and ‘get rid’ piles. While it may be hard at first to get tough of some sentimental possessions you’ll benefit on moving day when you have less stuff to move and won’t have to worry so much about how you fit all of it in.
Don’t Throw Anything Away
Once you’ve decided which items don’t belong in the ‘keep’ pile, it’s time to see if you can get some extra cash from your unwanted possessions. Obviously there will be some items that may not be fit for use anymore and would be better off taken to be recycled, but the items that are in good condition can be used to help fund new items more suitable for your smaller home. As we said earlier, separating your items early is the best strategy as you will now have plenty of time to use websites such as Gumtree and Ebay, you might even be surprised by the how much interest some of your items generate and how much money they bring
Assess Your New Space
At this point you should have divided your items and possibly sold a few of them generating some extra cash. Even though you’ve probably gotten rid of a lot of possessions, it may still be a challenge fitting everything that remains into your smaller space. If you’re already part way through the moving process and have agreed on which house you’re going to buy, start looking at measurements of each room and compare them against the measurements of your furniture. Your King size bed may fit into your new bedroom, but will it leave room for much else? Start planning how everything is going to fit in and figure out how to get the absolute most out of each space. You may need to invest in smaller and more suitable items for your home such as a dining table that seats 4 instead of 8.
Prepare For The Big Day
Last time you moved home it was most likely into a house of roughly the same size or bigger, however, this time you have to consider that you’ll have less space to work with, meaning it won’t be just as simple as getting everything in and unpacking it later. Whether you want to label all your boxes with ‘Living room’, ‘bedroom’ etc. or use a colour coded system, it’s best to know what goes where before you begin shifting everything. As with any move, it’s wise to move the bigger items such as beds and chairs first, as this will give you a better idea of where to place all the small things. Get organised early and get the full use out of your new home.
Senior Lettings Negotiator, Emma Waring has achieved the National Federation of Property Professionals (NFoPP) QCF Level 2 Award in Introduction to Residential Property Management.
The Award, which is a nationally recognised industry qualification, meets the Association of Residential Letting Agents’ (ARLA) membership requirements to join the Association as a member agent. ARLA is the UK's foremost professional body for letting agents. It aims to promote better regulation and higher practice standards in the UK private rented sector.
Emma comments: “It was important for me to secure this recognised qualification as a letting agent. It is not only a personal achievement but also a mark of professionalism and trust; it provides reassurance to tenants dealing with Royston & Lund that the agency adheres to the highest professional standards, and that employees are qualified and knowledgeable letting agents.”
Melfyn Williams, Chair of the Governing Body, adds: “The NFoPP QCF Level 2 Award is an ideal first step in demonstrating a basic knowledge in the key areas related to residential letting and property management within the lettings sector. The NFoPP Awarding Body is committed to raising standards within the residential letting and property management sector through the provision of accredited, nationally recognised qualifications, such as the Award Emma has achieved.”
David Cox, Managing Director of ARLA, concludes: “I congratulate Emma on her achievement of the Level 2 qualification and hope to welcome her to full ARLA membership soon.
“ARLA strives for better regulation in the private rented sector; with the support of letting agents across the UK recognising the need for higher standards and integrity in the sector, gaining an NFoPP qualification counts as a real stamp of professionalism and supports the drive for better practice within the industry.”
2017 is already off to a strong start with UK property prices breaking the £300,000 mark for the first time.
Research by property site Rightmove has shown that in the month of January UK home values rose by 0.4% on average, which is the third highest monthly rise for property values since 2015. This new year jump has taken the national average to £300,245, breaking the £300k mark for the first time.
Asking prices were also up, with an average 3.2% rise year on year across the nation, but still quite varied from region to region. As expected, the South of the UK saw the largest jump with the South East rising by 5.5% year on year to £404,804 and Greater London rising by 2.3% year on year to £624,953.
Director at Rightmove, Miles Shipside said: “The 0.4% monthly and 3.2% year-on-year price increases are indicators of the continued market momentum from the autumn.
“Demand for a suitable home is such that visits to the Rightmove website are still up by 5% year-on-year, despite being compared to a period that was boosted by high demand from buy-to-let investors rushing to beat the stamp duty deadline."
Miles Shipside also pointed out that “Year-on-year comparisons for transactions in the first quarter of 2017 should also allow for the distortion of last April’s additional stamp duty tax deadline, as transactions were up 40% in the first quarter last year.”
There has also been a rise in supply of smaller properties hitting the market as it has seemingly cooled down from the property investor perspective, as many acted quickly almost a year ago to beat the stamp duty hike.
This could be a huge benefit to first time buyers, a sentiment backed by Shipside as he stated. “Those planning to buy their first home in 2017 have more choice of properties and less competition from other buyers than their counterparts a year ago. It’s a possible learning point for aspiring first-time buyers that a year ago buy-to-let purchasers acted more quickly and closed deals at a faster rate, appearing not to take a Christmas break.
“Admittedly they had the financial incentive of a deadline to motivate them, but first-time buyers still have time to act and currently have the incentive of stronger negotiating power to try and mitigate the upwards trajectory of property prices.”
Royston & Lund are delighted to announce that on Saturday 4th March we will be holding an Exhibition at our associated Office in Park Lane, London from between 10am and 4pm. The event will be hosted by representatives from our West Bridgford office who will be on hand to provide an expert and unique personal in-depth view of the area’s thriving property market as well as highlighting the extensive range of quality properties for sale and to rent.
We are the exclusive members of the Guild of Property Professionals for the West Bridgford area and are hosting this property exhibition at the Guild’s Head Office on Park Lane. The Guild are a national network of approximately 800 independent estate agents, delivering local, regional and national property exposure.
We would love to share with you on the day why we believe West Bridgford and its surrounding areas are such a great place to buy. With West Bridgford being just a short trip over Trent Bridge and only 3 miles from the centre of Nottingham, it is obvious why it has always been a favoured hot spot, popular for families as well as young professionals. An increasing number of shops, bars, restaurants and café’s make it easy to see why West Bridgford is regularly voted as one of the top 10 best places to live in the UK. It is an ideal location for sports lovers too, as it is home to the famous Trent Bridge Cricket Ground.
Gary Lund, Director said “We are really excited about our first London Exhibition with the Guild of Property Professionals and we urge any home movers to contact us in order to take advantage of this opportunity to access the lucrative London Market. I personally will be available on the day to answer any questions to members of the public, be it with regard to specific properties that we are marketing, the property market or general information about our area.”
Contact us today in order to arrange for one of our Valuer’s to visit you in your home with a view to discussing the marketing of your property to include showcasing the details at our London Exhibition, whether it be at our forthcoming date in March or any future exhibitions later on in the year.