Fraser Stretton https://www.fraserstretton.co.uk Your Local Property Experts Fri, 11 Jun 2021 15:11:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.7 https://www.fraserstretton.co.uk/wp-content/uploads/2021/04/cropped-Fraser-Stretton-Favicon-01-32x32.png Fraser Stretton https://www.fraserstretton.co.uk 32 32 The Top 5 Needs of Professional Working Tenants https://www.fraserstretton.co.uk/needs-of-professional-working-tenants/ https://www.fraserstretton.co.uk/needs-of-professional-working-tenants/#respond Thu, 08 Apr 2021 12:59:56 +0000 https://www.fraserstretton.co.uk/?p=826616 Tags – Needs of Professional Working Tenants   Suppose you’ve been in the property management game for any length of time.  You will probably be well aware that professional tenants are like gold dust to landlords.  Of course, we can’t generalise.  But usually, professional tenants don’t miss their rental payments and keep the space clean; […]

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Suppose you’ve been in the property management game for any length of time. 

You will probably be well aware that professional tenants are like gold dust to landlords. 

Of course, we can’t generalise. 

But usually, professional tenants don’t miss their rental payments and keep the space clean; causing minimum hassle for you – the property owner.

Attracting gold-standard tenants can be difficult.

However, if you know what they’re looking for in a property, this will go a long way to creating a more attractive offer. 

With that in mind, here are five things working professionals are looking for in a rental property.

 

 

  • Technology

 

These days, good Wi-Fi is a given wherever you are. 

Still, most professionals are pretty tech-savvy and have come to expect a certain level of modernity in their homes. 

We’re talking fast Wi-Fi, Bluetooth capabilities, and modern appliances that enable tenants to do everything they need for work without commuting to the office.

This may sound costly on your part, but providing modern appliances and gadgets is often a clincher for prospective business people looking for a new place to call home.

 

 

  • Local Amenities

 

Most professional tenants want a rental with something nearby where they can escape to for a change of scenery. 

Specifically, if you’re catering to a family of professionals, be sure to highlight the local schools, colleges, nurseries or playgroups. 

Or, for single professionals you could showcase the nearby bars, pubs and clubs. 

Either way, bring to their attention a variety of appealing local amenities that will ultimately help, not hinder, the type of tenant you’re looking to attract.

 

 

  • Well-Presented

 

A hard-working professional is unlikely to be drawn to a dated, shabby rental property. 

Likewise, if you’re serious about securing a professional tenant, ensure your property is professionally managed and well-maintained. 

Sometimes, a lick of paint may be all it takes. 

Nonetheless, be aware and properly know your portfolio of properties. 

Once you establish your properties’ needs, consider an overhaul before putting it out there on the market.

 

 

  • Transport Links

 

Depending on your location, transport links may be an absolute necessity for a professional tenant with a daily commute. 

That means if you are close to train stations, bus routes, or tram links, you should be shouting about them from the rooftops. 

Sure, it could be negative in some people’s eyes. But, if you’re marketing your rental towards working professionals, highlighting viable transport links will undoubtedly work in your favour.

 

 

  • Parking 

 

In most cities, parking is at an absolute premium – which is not ideal!

And, so many properties do not even have the luxury of on-site parking at all. 

As a matter of fact, if you can offer parking, or better yet, parking at the property itself, you’re likely to attract massive interest from professionals who rely on their car to get too and from work.

 

Final Thoughts

Of course, this isn’t an exhaustive list – there are many other things you can do to appeal to professional tenants. But, this should serve as a great starting point to securing your dream residents!

 

To learn more, get in touch with us today.

 

In the meantime, please feel free to check out our Estate Agents Leicester page, for more information on how we can help.

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How Landlords Can Secure Long-Term Tenants https://www.fraserstretton.co.uk/how-to-secure-long-term-tenants/ https://www.fraserstretton.co.uk/how-to-secure-long-term-tenants/#respond Thu, 01 Apr 2021 12:58:37 +0000 https://www.fraserstretton.co.uk/?p=826524 Tags – How To Secure Long Term Tenants   Did you know, in 2017, over 36% of homes were rented in the US alone? And that number is only rising.  In effect, the worldwide economy is continuously shifting towards renting, rather than buying accommodation.  On the positive side, this brings excellent news for landlords; as […]

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Tags – How To Secure Long Term Tenants

 

Did you know, in 2017, over 36% of homes were rented in the US alone? And that number is only rising. 

In effect, the worldwide economy is continuously shifting towards renting, rather than buying accommodation. 

On the positive side, this brings excellent news for landlords; as more and more tenants are looking to lay solid roots in rented accommodation for years to come. 

Simply, these types of tenants are incredibly desirable for landlords as they present a more secure income. 

Plus, they negate the hassle that comes with finding new tenants, as often, they take better care of your property because they see it as their home.

So, in this post, we’re discussing our top tips landlords can use to help them find long-term tenants.

 

 

  • Make Your Desires Clear In The Contract

 

A good way to attract longer-term tenants is to be very clear from the get-go.

Therefore, express that you’re looking for residents that want to go the distance. 

In fact, the easiest way to ensure this is to present a longer minimum-stay in your tenancy contract. 

While this may ward off potentially interested parties, you’re more likely to narrow down on tenants looking for longer-term living situations.

 

 

  • Let Tenants Make Their Mark

 

One of the greatest reasons for dissatisfaction with long-term renting is that tenants can’t personalize their homes as much as they would like. 

Of course, with short-term tenants, landlords are understandably hesitant to allow many changes as they may risk their chance of securing their next batch of tenants. 

However, if you’re hoping to attract people for the long-term, bite the bullet and give them a little more freedom. 

Instead of huge DIY projects, you could encourage smaller creative freedoms like hanging easy to remove curtains, picture hooks, storage and shelving. 

Perhaps you could allow them to repaint the walls? 

Ultimately, having to repaint a property at the end of a long-term tenancy is still cheaper than constantly having to secure new tenants at the end of short-term tenancy agreements.

 

 

  • Keep The Garden Simple

 

Gardens might be attractive for some tenants. 

Still, on the whole, many don’t have the time to maintain an elaborate garden or yard. 

Simply, keep the garden low-maintenance and straightforward. 

This goes a long way to charming even the busiest tenants who can’t commit to upkeep an elaborate garden. 

 

 

  • Consider Accepting Pets and Children

 

For a lot of tenants, adopting fur babies into the family or having children are a part of their long-term plans.

Suppose you’re not willing to agree to either of these things, you could be turning away a very respectable young family or couple. 

 

Final Thoughts

Attracting long-term tenants all comes down to creating a liveable and comfortable environment that appeals to the desires of those looking for a home for the long haul. 

Often, this means relinquishing some of the restrictions you usually place on short-term tenants. 

Most notably, allowing residents to house pets in your property and granting some creative freedom when it comes to decorating the place. 

 

To learn more, get in touch with us today.

 

In the meantime, please feel free to check out our Estate Agents Leicester page, for more information on how we can help.

You may also like:

  1. Top Traits Of A Good Letting Agent To Market Your Property
  2.  5 Simple Interior Tips For Property Letters
  3. The Ins And Outs Of Buying A Freehold Containing Leasehold Properties

 

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We’ve moved offices https://www.fraserstretton.co.uk/weve-moved-offices/ https://www.fraserstretton.co.uk/weve-moved-offices/#respond Fri, 19 Feb 2021 16:30:24 +0000 https://www.fraserstretton.co.uk/?p=615620 Great news – we’ve moved to new offices! Our new location in Allandale Road gives us the great advantage of an ideal spot in the trendy Stoneygate area for potential tenants and buyers passing by. With much more space available to us in our new offices, we’re fully equipped to be able to welcome you […]

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Great news – we’ve moved to new offices!
Our new location in Allandale Road gives us the great advantage of an ideal spot in the
trendy Stoneygate area for potential tenants and buyers passing by.
With much more space available to us in our new offices, we’re fully equipped to be able to
welcome you at a socially safe distance.
With increased footfall, it’s been great to see so many new landlords and clients approach
us. We’re looking forward to trying out the local places to get a coffee with you when it’s safe
to do so.
Our move to the high street prompted us to recap our services to those who are new to us.
Dealing with both sales, lettings and property management, we are experts in advising in all
areas of property across the Midlands.
As we’re not just another agent, we can also help you with:

  • Mortgage advice
  • Finding a solicitor
  • Conveyancing
  • Buildings insurance
  • Rent guarantee insurance
  • Landlords’ insurances
  • Landlords’ end of year accounts

It’s important to note that we also help landlords’ to get their end of year accounts ready. Our
landlords are not stressed when it comes to the end of year tax year as they receive a
simple annual report from us which is then ready to be certified by their accountants with
minimum fuss.
Come and see us at our new address: 15 Allandale Road, Leicester, LE2 2DA.
You can also call us on 0300 124 5656 or email us on info@letsandsalesuk.com, and follow
our Instagram page for regular updates, news and advice.

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The ins and outs of buying a freehold containing leasehold properties https://www.fraserstretton.co.uk/the-ins-and-outs-of-buying-a-freehold-containing-leasehold-properties/ https://www.fraserstretton.co.uk/the-ins-and-outs-of-buying-a-freehold-containing-leasehold-properties/#respond Thu, 10 Dec 2020 12:14:09 +0000 https://www.fraserstretton.co.uk/?p=295176 As a lettings and sales consultancy for the whole of the Midlands, we receive a large number of queries around the matter of leasehold and freehold properties. It’s most often that questions are asked if a buyer has their eye on a property that happens to be under a leasehold. If a buyer is looking […]

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As a lettings and sales consultancy for the whole of the Midlands, we receive a large number of queries around the matter of leasehold and freehold properties.

It’s most often that questions are asked if a buyer has their eye on a property that happens to be under a leasehold. If a buyer is looking at a freehold property, most people understand that they will be buying complete ownership of that property.

For landlords buying a freehold property with leaseholds within it, however, there are more questions to be answered.

In any case, it’s important to understand what kind of property you’re buying into. Your solicitor will inform you of the exact terms that your contract stipulates but before you get to this stage, knowing more about leaseholds and freeholds and their pros and cons will inform your offer.

Firstly, what is a freehold?

if you own a freehold, you own a plot of land and any building upon it. As a freeholder, you won’t have a landlord, there’ll be no ground rent, and there’s no need to worry about a lease running out. What you will need to concern yourself with are the costs involved in maintaining the land and any structures upon it as you’ll be fully responsible for these. Types of freehold ownerships include buildings containing leasehold properties such as flats or maisonettes, garage blocks, land, houses, car parks, and office buildings.

And what is a leasehold?

If you own a leasehold, you own the property but do not own the land it is built upon, or the building it sits within. The freeholder has a responsibility to maintain a good level of upkeep to the immediate area. Flats are commonly leasehold properties, but some houses are sold as leaseholds too – both will come with ground rent that the leaseholder must pay to the freeholder. The freeholder will own the lease and the lease governs the responsibilities of the buyer and the freeholder. Leases are usually between 90 and 120 years but can be a long as 999 years. The number of years left on the lease will affect a buyer’s ability to gain a mortgage and sell the property on. The lease can be extended or purchased in agreement with the freeholder.

What does this mean for owners of freeholds that contain leasehold properties?

  1. As a freeholder with leasehold properties, you are a landlord; a title that comes with many responsibilities. You’ll be accountable for building insurance, management packs and communication, upkeep of communal areas, maintenance works, and more. Make sure you can afford to provide these services in terms of finances and time management – as your solicitor will inform you, you will be legally required to do so.
  1. Collecting ground rent and fees from your leaseholders could be a time-consuming task, especially if you happen to have problematic or demanding tenants. You are also legally liable to notify your tenants of the change in landlord. Financial situations between you and the tenant could also arise which means you end up in court. Tensions between the tenants themselves may also mean legal action is taken up, and as their landlord, these relationships could cause you stress and hassle that you might not have time for.
  1. When the leasehold property is sold from one leaseholder to another, the rights and responsibilities are transferred to the new leaseholder. This seems an obvious statement but it’s important to note that the freeholder won’t be able to update or amend the terms of the lease, nor will they be able to issue new leases upon purchasing the freehold, or upon the sale of the leasehold property. On the other hand, no harm is done by approaching the leaseholder to see if they would like to agree to new lease terms.
  1. Flying freeholds should be approached with caution. This is where part of a property overlaps another. You might find a flying freehold occurs where a balcony overhangs into a property below, a basement lies beneath a neighbouring house, attics that exceed the boundary line, or where a room lies above a shared space. Flying freeholds are complex and will require more work from your solicitor, amounting to a higher bill.
  1. You will be subject to Collective Enfranchisement. This is the leaseholder’s right to buy the freehold from you, the freeholder. The purchase could be a long, complicated process for the leaseholder. Although there is potential to sell for a large sum, you will no longer be able to collect ground rent or fees from them if they proceed with the purchase.

If you’re thinking of purchasing a freehold with leasehold properties, please do consider taking free professional advice from ourselves with no obligation, before you go ahead.

In other news

We were honoured to attend the East Midlands Chamber Leicestershire Business Awards this month, held virtually for the first time ever.

As a sponsor of the Generation Next – Young Professional of the Year awarding category, we’d like to say a big well done to our much-deserved winner Lee Tomes of Orange Fox Studios.

And as a finalist ourselves in the Outstanding Growth category, we’d also like to congratulate QDTS on their win this year. Well done to all!

 

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Top Traits Of A Good Letting Agent To Market Your Property https://www.fraserstretton.co.uk/top-traits-of-a-good-letting-agent-to-market-your-property/ https://www.fraserstretton.co.uk/top-traits-of-a-good-letting-agent-to-market-your-property/#respond Mon, 30 Nov 2020 15:00:12 +0000 https://www.fraserstretton.co.uk/?p=224733 Tags – Traits of a Good Letting Agent   So, you need to find an agent to market your property and find some fitting tenants. Whether you have several properties to let or just one, it’s important to have full confidence in anyone you hire. Here are our suggestions of the most important traits to […]

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Tags – Traits of a Good Letting Agent

 

So, you need to find an agent to market your property and find some fitting tenants.

Whether you have several properties to let or just one, it’s important to have full confidence in anyone you hire. Here are our suggestions of the most important traits to look for in a good letting agent.

 

1. LOCAL KNOWLEDGE

Although larger agents have much to offer, any letting agent who knows the local market well is worth their weight in gold.

For example, knowledge of the rental value of other recently rented, comparable properties is hugely significant.

Similarly, an agent who is aware of all available letting options nearby at any given time is very useful.

Equally, knowing the pros and cons of alternative properties and how the rental values relate to your property will assist tremendously in optimising your own rental yield.

 

2. ATTENTION TO DETAIL

Another critical trait that any letting agent should possess is close attention to detail and it’s not just a case of finding a prospective tenant.

For instance, it would be understandable to jump at the chance of letting your property to anyone willing to pay the rent.

However, a good letting agent will take you through all the necessary checks to ensure a secure contract. 

 

3. WORTHY TENANTS

Once someone who would like to rent your property is found, you need to be sure they’re suitable.

As such, a worthy letting agent will arrange all the necessary administration. For example, credit checks on the prospective tenants are crucial.

Equally, finding out whether your tenants are employed and legal UK residents will save a lot of potential trouble.

Another service offered by a good agent is to ensure that a direct debit to pay the rent is set up.

Furthermore, they will also arrange to secure the tenants’ deposit in the correct manner. 

 

4. COVER OFF ALL THE DETAILS

A great letting agent acts as a mediator and negotiator, making sure they get all the details you need to know.

For example, knowing exactly how many people will be living in the house is essential!

Similarly, whether to allow pets is a significant decision you might need to make. For example, having a third-party letting agents deal with someone who might try to persuade you to let your property to them with 4 large Alsatian dogs or maybe even a snake or two in tow is incredibly helpful!

 

5. LIST IT ALL DOWN

Letting a property to tenants is so much less hassle with a comprehensive inventory integrated into your contract.

A letting agent worth their salt is fantastic at carrying out an extensive inventory.

Consequently, the more detailed an inventory is, including furniture, equipment and the general condition of the property, the more it will save any contention at the end of the rental agreement.

 

To learn more, get in touch with us today.

In the meantime, please feel free to check out our Estate Agents Leicester page, for more information on how we can help.

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5 Top Attractions Of Leicester To Live https://www.fraserstretton.co.uk/5-top-attractions-of-leicester-to-live/ https://www.fraserstretton.co.uk/5-top-attractions-of-leicester-to-live/#respond Thu, 26 Nov 2020 12:28:33 +0000 https://www.fraserstretton.co.uk/?p=224553 Tags – Top Attractions of Leicester   Leicester has a lot to offer as a city. A city with strong family connections, Leicester has come into the public eye, once again, since the discovery of the remains of King Richard III, and of course, Leicester City’s miraculous victory in the Premier League Season 2015-16. Here […]

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Tags – Top Attractions of Leicester

 

Leicester has a lot to offer as a city.

A city with strong family connections, Leicester has come into the public eye, once again, since the discovery of the remains of King Richard III, and of course, Leicester City’s miraculous victory in the Premier League Season 2015-16.

Here are 5 of the top attractions of Leicester to live, when you visit:

 

1. The National Space Centre

Only 2 miles away from the town centre is the UK’s national space centre.

It’s hard to miss with a 42m high rocket tower. It contains six galleries and the largest domed planetarium in the UK.

The National Space Centre has a bit of something for everyone from education to entertainment. The venue hosts events all the time and is reasonably priced for all to attend.

Even, you could walk down a mock of the Columbus module or stand next to a giant globe, whatever suits you.

 

2. Tropical Birdland

Opening in 1984, Leicester’s tropical birdland has a bunch of things to do and see.

They have a large variety of species and even some goats.

For instance, you can go for walks in woodland or large aviaries, visit the gift shop or eat at the cafe.

In addition, there’s plenty of opportunity to take some great photos, feed or hold parrots and even see some chicks hatch. What’s more, it’s relatively easy to get to and super affordable: only £8.50 for an Adult. All of this combined makes it an easy top 5 attraction within Leicester.

 

3. Social Climbing

This amazing bouldering centre opened up in 2017 and has been a hit ever since.

Whether you have never climbed in your life or are a seasoned vet, there is a challenge for everyone.

To keep things interesting, the routes or ‘problems’ get updated regularly.

Plus, it’s nice and spacious and has good facilities like showers, a warm-up area and some comfy sofas.

Even if you don’t plan on climbing, the atmosphere is really cool and they serve a decent range of hot drinks and snacks. It’s also easy to get to and not too expensive.

In addition, the venue has themed events and challenges pretty frequently as well! 

 

4. Bradgate Park 

Parked in the north-west of Leicester is the former deer reserve – bradgate park.

At a huge 830 acres, there is plenty of room to see and do things.

The park is packed full of history with historic sites like Bradgate House, Old John and Cropston Reservoir.

In addition, there’s events like guided walks, trails and dog walking paths going on all the time surrounding these sites also.

Further, the scenery is great and there’s plenty of it. Hills to rivers to forest – they have it all. 

 

5. The King Power Stadium

Home to Leicester City Football Club, the king power stadium has become a bit of a fortress in recent years.

In fact, it’s home to one of the greatest sporting upsets in recent history plus Leicester’s rise to reach that point.

Here, you can try your hand at getting a matchday ticket or take yourself around the stadium during a tour.

On the tour, you’ll get to go pitch-side, see the changing rooms and all the trophies from their previous eras.

Well, the tour will be packed full of knowledge and iconic memorabilia for you to see. 

 

To learn more, get in touch with us today.

In the meantime, please feel free to check out our Estate Agents Leicester page, for more information on how we can help.

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November 2020 https://www.fraserstretton.co.uk/november-2020/ https://www.fraserstretton.co.uk/november-2020/#respond Wed, 04 Nov 2020 12:15:03 +0000 https://www.fraserstretton.co.uk/?p=130478 You could say the property market is booming. But is it the right time to buy for you? And if it is, what can you do to maximise your assets? Looking from the outside in, the property market is buoyant. On the surface, our business has been very lucky to have benefited from the stamp […]

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You could say the property market is booming. But is it the right time to buy for you? And if it is, what can you do to maximise your assets?

Looking from the outside in, the property market is buoyant. On the surface, our business has been very lucky to have benefited from the stamp duty holiday and the existing Help to Buy (HTB) scheme.

But we wanted to give you some insight before you make any decisions.

 

What Help to Buy means for you
The HTB scheme as we know it today will come to an end in March next year.

The current scheme allows anyone to use HTB benefits, even those who are already homeowners – as long as their new purchase becomes their primary home.

Coming into play on April 1, 2021, the new HTB scheme will take over.

We’re helping our developers prepare for the changes, which will run until 2023.

It will be available to first time buyers only. Because of this, we are seeing more affordable two and three bed properties in the making on the developments we’re marketing. So, if you haven’t found the right new build out there for you, it might be best to remain patient.

As for developers, we’re advising our clients to think ahead to the coming years. Staying up to date with the Government’s future plans could be the key to your success. Not being in the know, however, could mean the keys to your properties remain in the key safe for some time.

 

Buying a home in lockdown
If you’re planning to move, you will have most likely asked yourself if it’s wise to do so right now. And then, the stamp duty holiday may have tempted you. On top of that, talk of the current HTB scheme coming to an end may have given you that extra push.

As an open and honest property consultancy that aims to build long term relationships with buyers and landlords, it is with no fear or shame that we may talk ourselves out of a sale here.

We urge you to do your numbers. Figure out if you can really afford to buy right now.

While buyers are happy to make higher bids for properties because they’re saving thousands due to the stamp duty holiday, house prices are rising.

A house worth £250k is now going for around £270k because both sides of the chain are eager to take advantage.

But we predict, when it comes to remortgaging in a year or two, those buyers might have a nasty surprise waiting for them. Because they’ve paid more for a house than what it was worth, they may find themselves in negative equity.

Lenders may only be willing to offer a deal based on what the house is really worth. Now in a sticky situation, the buyers will need to find the extra funds from elsewhere.

Make sure your earnings mean you can afford the investment in the long run. If you can afford it, get in touch with us. If you can’t, try to hold fire for the next six months.

 

Building your portfolio as a landlord
As our client, when your portfolio increases, so does ours. We constantly re-evaluate for you and look out for properties that would suit you.

One gentleman came to us last year having bought his first buy-to-let. He just wanted to see where the opportunity could take him. He was working full time so we managed his property for him.

As enticement for our landlords, the more properties you have with us, the lower we make our costs. That same landlord now has three properties under his belt – in just under 12 months.

Some prefer to stick with just the one property and that’s fine. It’s a different conversation in this case. We’ll help you to maximise your yield by making your property unique.

With a broad range of partners, we provide high end services that can increase property values by thousands.

If you’re thinking about dipping your toe in the buy-to-let market, give us a call for free advice.

 

Interior design to maximise potential
By simply updating a kitchen or bathroom, you could convince a family to make your property their forever home.

Put substandard properties on the market, and you’ll attract substandard buyers and tenants.

With our new build developers in Fleckney, we are currently designing the interiors.

We remind our developers to keep in mind that the homes they’re designing aren’t for them. Base your design choices on your target buyer.

Would they prefer a minimal look? Or would they like to see how the rooms can be used to their full potential?

The psychology of design is an important factor in marketing property. Let us know if you need any tips.

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In a Neighbourhood, What to Look for Before Buying a House? https://www.fraserstretton.co.uk/what-to-look-for-before-buying-a-house/ https://www.fraserstretton.co.uk/what-to-look-for-before-buying-a-house/#respond Mon, 02 Nov 2020 17:38:19 +0000 https://www.fraserstretton.co.uk/?p=111325   Tags – What to Look for When Buying a House   The housing market is a complicated and ever-shifting beast. It is easy to look at a property in isolation and consider its value on its own. However, it is wise to estimate the long-term worth of a home within its local area. Where […]

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Tags – What to Look for When Buying a House

 

The housing market is a complicated and ever-shifting beast.

It is easy to look at a property in isolation and consider its value on its own. However, it is wise to estimate the long-term worth of a home within its local area.

Where property value is concerned, location matters more than you might think. So, consider the following before purchasing a prospective home:

 

The Schools

The quality of the schools in your neighbourhood affects your home’s value.

Both in terms of its monetary worth and usefulness to you if you have children.

In fact, areas that boast good schools could add up to 10% onto the value of a property. Whereas, the opposite is true if the schooling in the district is going downhill.

 

Employment Opportunities

It is likely the value of your home will rise if you live near employment opportunities—for instance thriving shops, restaurants, offices, etc.

So, ensure that your potential neighbourhood has a flourishing economy before purchasing a house. 

 

Public Transport

If you ever want to put your property on the market, public transport can be a significant selling factor.

So, if you are located near a train station or even good bus connections, your property is deemed to be more conveniently situated.

Of course, you don’t want to be too close – for instance, if a house is very close to the train station, this might give rise to noise complaints. 

 

Crime Levels

Research an area’s safety before you start house hunting.

Needless to say, you won’t want to move into an area with increasing crime rates.

In short, safe areas are more desirable and will retain their value better in the long run. Look for areas with few incidents, neighbourhood watches, and streets with CCTV. 

 

The Local Market

A home’s value depends significantly on its own condition, layout, and upgrade potential.

This factor you have more control over, providing you purchase a good-sized property and expand it during your ownership. In this sense, a home can be upcycled and sold at a higher price later down the line. 

But, no matter the condition of the property, it will be affected by the local market.

This plays a huge role in a home’s value, from the number of other properties for sale in your area to the number of buyers. 

The condition of other homes in your neighbourhood can also affect prices.

If similar houses in your area have recently sold for £200,000, for example, then you will struggle to sell yours for £300,000.

 

Know What to Look for in a Prospective Area Before Buying a House

When you go house-hunting, be sure to keep the above considerations in mind.

Also, make good use of your estate agent. They should be able to tell you a bit about the neighbourhood.

Still, it is worth doing your own research and taking a close look at the local amenities so that you can rest easy so that you won’t regret your purchase later down the line.

 

To learn more, get in touch with us today.

In the meantime, please feel free to check out our Estate Agents Leicester page, for more information on how we can help.

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5 Simple Interior Tips for Property Letters https://www.fraserstretton.co.uk/interior-tips-for-property-letters/ https://www.fraserstretton.co.uk/interior-tips-for-property-letters/#respond Fri, 30 Oct 2020 17:32:40 +0000 https://www.fraserstretton.co.uk/?p=111176   Tags – Interior Tips for Property Letters   With first time buyers at more of a disadvantage than ever before, it’s unsurprising the average UK tenancy length is increasing year upon year. Government figures from 2017 show that leaseholders are no longer just looking for temporary accommodation as a stopgap before they find their […]

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Tags – Interior Tips for Property Letters

 

With first time buyers at more of a disadvantage than ever before, it’s unsurprising the average UK tenancy length is increasing year upon year.

Government figures from 2017 show that leaseholders are no longer just looking for temporary accommodation as a stopgap before they find their “forever home.” Instead, they are spending an average of four years in every rental property they occupy. 

This means their requirements for that property have also changed. In short, renters are no longer just looking for a house—four walls and roof to go over their heads—they’re looking for a home. 

So, as a landlord, how can you decorate the interior of your investment property to attract prospective tenants? 

Follow our top five tips, and they will have their feet under your rug in no time! 

 

1. Keep Things Minimalist

Clutter makes even the largest of rooms feel small and cramped.

Besides, if your sideboards are covered with trinkets, where are they going to put their own belongings?

Our advice: Don’t overcrowd or overcomplicate things. Simply, have one or two statement pieces to lend a bit of character to the place (a painting, perhaps, or a vase), but don’t go over the top.

No two viewers will like exactly the same things. So, play it safe with the decor. This helps to ensure your property appeals to as broad an audience as possible. 

 

2. Proportion is Key

Always consider the size of the space you’re working with.

So, don’t try to squeeze a king-sized bed into a box room—that will only make it look smaller! 

If floor space is tight, get creative with storage. Why not put up some shelves and invest in furniture with built-in storage? 

 

3. Use Colour to Your Advantage

Decorate the walls with colours that make rooms look bigger and brighter. Pure white often looks clinical (not to mention, it’s a pain to keep clean), so we’d suggest sticking to soft neutrals and pale pastels. 

A well-placed mirror can also open a room up.

For instance, to make the most of the light, place one near the window. This reflects the sunshine and the view and gives the space a brighter feel.  

Conversely, to make rooms feel warm and cosy, try adding a touch of cream, yellow or green. A deep, wine-coloured red makes for a bolder choice, but will often magnify the effect.

 

4. Curtains

If you have the budget for them, opt for properly fitted curtains made from good quality material.

These tend to look more upmarket than slatted wooden blinds, which often exude blandness.

 

5. Appeal to All Five Senses

For many viewers, your property is unlikely to be the first they’ve viewed – but you should do everything in your power to make sure it’s the last! 

Pay close attention to the textures you use, as well as the colours, to ensure your fittings draw the eye.

For instance, make sure the furnishings are soft and comfortable. You could even consider installing thick carpets and curtains to reduce the amount of external noise.

Also, we suggest a subtle air fragrance in every room, to give your property a fresh feel to it.

 

To learn more, get in touch with us today.

In the meantime, please feel free to check out our Estate Agents Leicester page, for more information on how we can help.

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October 2020 Blog https://www.fraserstretton.co.uk/18533/ https://www.fraserstretton.co.uk/18533/#respond Tue, 06 Oct 2020 14:00:38 +0000 https://www.fraserstretton.co.uk/?p=18533 We’ve witnessed first-hand the gripes that customers have with lettings and estate agents, here we explain how we’ve separated our business from the masses Rather than a lettings and estate agent, we’re known to our clients as property consultants. This means anyone looking to buy, rent, let, sell, or develop can come to us. We’re not […]

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We’ve witnessed first-hand the gripes that customers have with lettings and estate agents, here we explain how we’ve separated our business from the masses

Rather than a lettings and estate agent, we’re known to our clients as property consultants. This means anyone looking to buy, rent, let, sell, or develop can come to us.

We’re not just another agent. Our mission is to reshape the property industry. The stigma attached to lettings and estate agencies has been brought about by customer neglect, clock watchers, and target-driven teams.

Here are two bad behaviours that some agents have been known to carry out, and how The Lettings and Sales Business differentiates itself as a property consultancy service.

Sending landlords and vendors off with no guidance

Those who are new to letting properties (including accidental landlords) will have a lot of questions and gaps in their knowledge on the subject.

The same applies to those selling their home for the first time. And, understandably so. They aren’t experts in the property market or the laws associated with it.

These people will most likely have a job and a family. There’s not much time left in the day to learn everything an agent knows, or should know.

They won’t be in the know about certificates they need to gain or work that needs to be done to ensure the property is compliant with legislation, and to secure the most attractive position on the market.

To us, it’s essential we provide a hand-holding service. It is very rare that agents will provide advice and guidance as to how to get their clients’ properties up to scratch. They also won’t inform prospective tenants and buyers on what to look out for in a quality, safe property.

Clients and customers should never have to chase. An agent should be contacting you every time they have an update.

While landlords and vendors have other priorities in their lives, we oversee all the requirements that they may have in relation to their properties, such as dealing with any maintenance that may be required. We can manage the whole project for them and hopefully, help them to grow their portfolios.

Taking tenants and buyers on wild goose chases

A good agent will listen to what a customer actually wants. Instead, some are driven by hitting targets and earning commission.

This can lead to viewings with no substance that don’t match either party’s requirements. It causes frustration for both sides, and takes away the enjoyment of the process for all.

As an agent, they’re letting the buyer down, the vendor down, and themselves down because they’re not seeing their fee for months.

We prepare our customers to be ready to make their offers and hold their hand throughout. It might be that they get into a bidding war and feel anxious. Or, they could be worried about finances. Whatever the case, our customers are never left to deal with their problems on their own.

As property consultants, we understand what our customers have gone through to make sure that they can even gain a mortgage and a deposit. We also understand the process they go through to find a house. And we understand how happy somebody is when they receive a mortgage offer or has their offer accepted. We know the excitement. Our goal is to maintain this for them.

Buying or renting a house is a big deal, it’s not like buying a pair of shoes. Matching the right customer to the right home requires knowledge, experience, honesty and care.

We provide no-obligation advice and reassurance to those who need it, and a personal approach to ensuring our vendors, landlords and developers secure the right buyers, tenants, land and marketing strategies for them.

In other news

Our very own Co-Director Narinder will be working closely with some Leicester Tigers players. As the players have relatively short careers, some are looking ahead to their retirement from the sport. Narinder has offered to provide support and advice to those interested in going into property development. We’re always keen to provide advice and support in our field of expertise, which include property, law and IT.

After just a year in business, we worked out that The Lettings and Sales Business had grown by a dramatic 116%. We’ve since discovered, just two months later, that that figure has increased to 200%! We’re so pleased to announce this growth and thankful to our customers across the Midlands.

Jaz and Narinder

A word from Bhumika Parmar, solicitor and director of BP Legal Solicitors

Sellers and buyers can assist the process of selling/buying and make the conveyancer’s job easier by carrying out the following points.

·        The seller should instruct their conveyancer upon listing their property on the market. This will assist with time in retaining the client, now firms are working electronically this reduces the timescale.

·        Instruct the conveyancer to order leasehold management packs where applicable. There are often delays for LPE1 information to be returned causing delays on leasehold transactions.

·        Sellers should ask their conveyancer to order local searches, and drainage and water searches. This can speed up the process of completion. By ensuring the estate agent has the correct information about planning permission, buildings regulations, rights of way, unadopted roads, lease terms, ground rents and flying freeholds, etc., most post-valuation queries can be satisfied. Delays are being reported at the local authorities in obtaining searches. Remember, searches won’t even be ordered until after the conveyancer has been instructed.

·        Ask the conveyancer to review the property information forms and title and to identify any issues which might impact a sale. Things like onerous lease terms, defective titles, and so on can then be highlighted at the outset. If a buyer pulls out through the transaction, the seller may be unlikely to find a new buyer in time to complete before the stamp duty holiday.

·        The buyer should obtain a mortgage decision-in-principle in advance of putting an offer forward – often the mortgage advisor will require vast amounts of information and this can delay the mortgage.

·        Buyers should instruct a conveyancer prior to offer. This will assist with the timescale of the transaction, and where there is a legal pack; to ensure the buyer will be able to proceed.

You can get in touch with Bhumika by emailing bhumika@bplegal.co.uk or calling 0116 253 6856.

 

solicitor

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