ChimneyPots’ to-do list for new landlords

Letting your property out for the first time can seem like an intimidating prospect. But as any landlord who’s been doing it for a while will tell you, the rewards can be great.

Using our experience as letting agents in Southampton, Portsmouth and other areas in the South of England, we have come up with a list of the top considerations new landlords should be making.

Swot up beforehand

You’ll want to know what you’re getting into before you become a landlord, so it seems sensible to read around the subject a bit. The Private Rented Sector (PRS) and buy-to-let are terms you’ll hear lots, and there is plenty of good information out there to help you think like a landlord. There are a number of excellent books, online resources and blogs (including ours!) to help you on your way.

Start searching for tenants

Once you have decided that a landlord’s life is the one for you, it’s time to get some tenants into your property so you can start earning some regular rental income. You will need to advertise your property in the right places to ensure it is being seen by as many would-be tenants as possible.
Nowadays, major portals like Rightmove and Zoopla rule the roost, so your ad needs to be web-friendly. Local newspapers and magazines are still great ways of getting extra exposure, too, so this avenue should also be explored thoroughly.

Make your property clean and attractive

Arguably the most important step – prospective tenants won’t be impressed by homes that are dirty and ramshackle. If you don’t fancy cleaning the property from head to toe yourself, you could employ the services of a cleaning company to do a thorough job for you. It might cost a little bit more, but a gleaming house is bound to be more attractive, so it’s worth it in the long-term.

You also need to decide early on what possessions you will be leaving behind for the duration of the tenancy. Take out anything of personal value or anything that won’t be of any use to your tenants. Clutter, too, is always a big turn-off – tenants want to put their own stamp on the place they will call home, they don’t want this job done for them.

Put safety first

Tenant safety is of paramount importance and shouldn’t be jeopardised under any circumstances. A smoke detector will need to be installed and maintained; and it’s recommended that the same is done for a carbon monoxide detector as well.

In addition, all white goods, electrical equipment and plug points must adhere to safety guidelines.

Keep on top of maintenance

When you have tenants in place, that doesn’t mean you should just leave them to their own devices – quite the opposite. While tenants will appreciate privacy and a good degree of trust from their landlord, they won’t appreciate you leaving the property to fall into disrepair. They will want those little DIY jobs and repairs to be carried out as quickly as they can be, they will want to know that their landlord will be on the other end of the phone should emergencies (for example a broken fridge or a faulty boiler) arise.

Maintaining your rental property won’t only give you peace of mind, it will also ensure your tenants’ standard of living is of a high quality. Also, if tenants leave and need to be replaced, you’ll be much less likely to encounter void periods if your property is in good condition.

Provide an EPC

Before they move in tenants should be given an Energy Performance Certificate, giving them a clear idea of how energy-efficient your rental property is.

So, the main question after all that is: do you need a letting agent? As you can see, there is a lot to consider when it comes to being a landlord, so enlisting the help of a professional letting agent can take away much of the stress and hassle from renting out and then running a property. You might not want to relinquish total control to an agent – that’s fine; we’ll work with you to tailor our services accordingly.

For more information about becoming a landlord and the services we offer, contact ChimneyPots on 0844 809 993. We are also able to provide an instant online valuation of your rental property.

http://chimneypotsestateagent.co.uk/chimneypots-to-do-list-for-new-landlords/

Why Hampshire is the perfect location for selling property

We’ve previously written about why Southampton is the best location for buy-to-let investors. Now we take a look at why the county of Hampshire as a whole is the perfect selling location.

When it comes to selling your property, location is likely to be a major factor in your success. Nine times out of ten buyers will be after a house in a safe and welcoming area. Good transport links and local amenities are also vital, while quality of life and green space will probably be other key considerations.

On these measures, Hampshire scores highly. It offers both urban and rural living, both busy seaside cities and isolated villages. In other words, there’s something for everyone. And even in the cities, life tends to be slightly less hectic than in truly massive metropolises like London, Birmingham and Manchester.

Residents of Southampton and Portsmouth can enjoy a good mixture of history, culture and leisure opportunities, as well as a raft of high-quality restaurants and bars – plus, of course, the added bonus of a beach on your doorstep during the summer.

As we’ve written about before, young professionals and families are deserting the capital in their droves, driven out by impossibly high prices and a lack of hope that they’ll ever be able to afford to buy. Hampshire, which is close enough to London for commuters but far away enough to offer a more relaxed, laid-back pace of life, is an obvious destination for would-be buyers to escape to.

Hampshire is very well-connected, with major cities like Southampton and Portsmouth and smaller cities like Winchester all providing relatively fast services to London. You can be at London Waterloo in 1hr 17m from Southampton Central, while Winchester to Waterloo takes just over an hour.

With Southampton being crowned as the ultimate buy-to-let destination by HSBC recently (Portsmouth was also in the top 10), sellers in Hampshire have a large pool of investors to target their property towards. Naturally, when it comes to selling your home, the more people you have to sell to, the better your chances of achieving your asking price (or above).

The county is also a hotbed for universities – meaning, in turn, a significant student population. That means plenty of young people looking for accommodation. As a result, landlords are attracted to stock near to campuses or city centres. If you own a property in these areas, there’s a good chance landlords will be knocking at your door to expand their portfolio.

When carrying out viewings, don’t be afraid to use location as one of your main selling points. Wax lyrical about the area you live in, whether that’s the stunning landscape of the New Forest or the South Downs, the architectural and historic interest of Winchester and Portsmouth, or the various cultural activities on offer in Southampton.

Furthermore, the average property value in Hampshire’s two biggest cities make for good reading for sellers – in Southampton the typical asking price currently stands at around the £250,000 mark, while in Portsmouth it is closer to £235,000. This means that buyers are unlikely to be put off, but it also ensures that you are more likely to be achieving a fair and reasonable price for your property.

For further advice on selling property in Hampshire, please contact ChimneyPots on 08448 099931. We also provide an instant online valuation tool to give you an accurate idea of how much your property is worth.

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