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GROW YOUR RETURNS IN THE GARDEN BOOM WITH STYLISH OUTDOOR UPGRADES
Not so long ago, many landlords saw gardens as a bit of a liability. Tenants weren't exactly clamouring for them, and landlords were convinced they'd be handed back an overgrown jungle of weeds.
But the pandemic produced a revolution in the demand and appreciation for outside space across the country. It's a trend that's never gone away, with gardens and balconies firmly on the non-negotiable lists for many tenants in Liverpool. More than that, they're willing to pay extra for the privilege.
So how can you reap the greatest reward from the outside space at your buy-to-let? And how do you match your garden or balcony to the right kind of tenant?
This week's blog digs deep, from tiny patios to family lawns and stylish luxury upgrades. Use our design and planting tips for an in-demand garden to maximise your rent and improve the value of your investment.
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IS BUY-TO-LET BROKEN? FACTS, FIGURES AND FUTURE TRENDS FOR PRIVATE LANDLORDS
There's no denying that buy-to-let isn’t the same as 10 or 15 years ago.
Changes in lending criteria mean landlords have to put in more of their own money; changes in tax policy have affected initial yields; changes in lettings legislation have changed what it is to own a rental property.
As the private rental sector has moved away from short-term profits, corporate investment in buy-to-let is on the rise, with major institutions attracted by its long-term prospects for growth and income.
But is the future only for the big boys? Or is there a place for small, independent landlords to have a thriving and profitable business? Our blog this week looks at the factors affecting the market today and tomorrow, so you can choose whether buy-to-let is for you.
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UNFURNISHED LETTINGS: WHAT FEATURES DO TENANTS PAY MORE RENT FOR?
The average age of a first-time buyer has risen to 32, and tenancies are lasting longer than ever. Not all national trends apply to lettings in Liverpool, but this one absolutely does.
With renting no longer seen as a temporary measure, tenants are looking for a sense of permanence combined with more comfort. This means surrounding themselves with their own belongings in a well-presented and well-equipped home.
While most people want to live with their own furniture, the term ‘unfurnished’ doesn't mean entirely bare. There are certain fittings that everybody expects, and others that some tenants will pay extra rent for.
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PROTECTION MONEY: A GUIDE TO LANDLORD INSURANCE AND REDUCING YOUR PREMIUMS
We all know someone who never insures anything and never has any problems. But given that £8m is paid out every day in home insurance claims, not everyone has the same luck.
Although it isn’t a legal requirement to insure rental homes, a survey of 3,000 landlords revealed that around 85% do protect their buy-to-lets. For the other 15%, research by LV suggests that landlords spend £600m every year on repairs that could be covered by insurance.
Most of our landlords are properly covered, but we also speak to some who haven’t fully considered how to protect themselves and their buy-to-let. Confidence and luck are wonderful assets, but not much use when a boiler breaks down late at night, or a tenant runs into difficulty.
A comparatively small monthly cost could save you from enormous bills and nasty surprises. With that in mind, this week’s blog looks at the different types of landlord insurance available, and how you can reduce your premiums while having complete peace of mind.
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COST OF LIVING CRISIS: WHAT CAN LANDLORDS DO?
We've all seen the headlines: inflation at its highest point in almost 30 years; interest rates are rising, and the energy cap is about to lift. Everyone's on tenterhooks to see what it will mean for their bank balance, and of course, landlords and tenants are going to be affected.
Nobody quite knows how things will turn out, but the forecasts are stark. It's estimated that 7 million people will fall into financial difficulty after the energy cap lifts on April 1st, rising to 14 million with a further expected price rise in October, just in time for winter.
So, what can landlords do to get ahead of the problem? The short answer is "act now". The longer answer is "actually quite a lot".
To get you started, this week's blog is chock-a-block with practical tips on how you can work together with your tenant on making things easier for them while still protecting your income, investment and costs.
Remember that you're always welcome to get in touch about life as a landlord. Call us on 0151 280 4047 or email us at This email address is being protected from spambots. You need JavaScript enabled to view it. – we're here to help.
Why sell or let with us?
Here are some of the reasons why you should choose Homelets to sell or let your property:
- Dedicated Local Experts
- 24/7 Contact
- No Commission
- No Sale No Fee
- Accompanied Viewings
- No Let No Fee
Submit a valuation opposite or call us on 0151 280 4047.
