Month: October 2019

In a tough and competitive market where every small advantage can make all the difference to selling your property, maximising rental yield or minimising voids, it’s important to be aware of all the factors that can affect the value of your buy-to-let property.

There are plenty of improvements that you – as a landlord – can make to your rental property, but there are also elements outside of your control which can cause property prices to rise and fall.

To help ensure that you aren’t overlooking any potential goldmines, The Landlord Link has taken a look at some of the lesser-known things you should be taking note of.

1. Road Name

‘Close’, ‘Drive’, ‘Way’… they’re all very much the same, right? Wrong!
Studies have shown that people would rather live on a ‘Lane’ than a ‘Terrace’. And ‘Hill’ is far more popular than ‘Street’.

This may seem like a subtle distinction but property values can reportedly be affected by up to 50 percent in comparison to the national average, so it’s certainly worth considering.

2. Local Convenience

Okay, so you may already have heard of the ‘Waitrose Effect’ but rather than being just a buzzword in the property game, it has in fact been proven to have a very real impact on property prices.

Close proximity to a Waitrose or an M&S can add a bump of 9% over other houses in the local area, whilst the likes of Aldi and Lidl lead to a much more modest increase.

It’s not just supermarkets either – a posh Italian such as Zaza or Carluccio’s will see a positive effect whilst a McDonalds can detract from your property’s value.

3. Parking

Whether it be in a garage, on a driveway or secure off-road parking, being able to offer tenants somewhere to safely store their beloved vehicle can lead to a very noticeable increase in the marketability of your property.

4. Sporting Venues

Easy access to major sporting arenas is another bonus for many property-hunters. Areas such as Wimbledon, Twickenham and Wembley are great examples of this phenomenon.

Depending on your occupancy situation, properties in these areas can also be great money-spinners for short term rentals during sporting events.

5. A Good Local

Maybe this one goes without saying but close proximity to a well-regarded local pub is a real advantage for many. Be mindful that the type of pub makes a difference here – a rowdy, late-night boozer isn’t anywhere near as attractive as a trendy gastropub.

Whilst you can’t change the name of your property’s road or magic a Waitrose out of thin air, we hope that one or two of the things on this list will enable you to better consider the full value of your buy-to-let residence.

For more information on how to get the most out of your property, see some of our other helpful blogs at www.thelandlordlink.co.uk/blog/

If you’re thinking of selling a rental property or adding a new landlord property to your portfolio, check out all the amazing properties available to buy landlord to landord here on The Landlord Link.

Winter can be a worrying time for everyone – especially for landlords. The colder months present significant risks to rental properties, all of which could lead to costly problems. By taking some time to check over your property now, you can help to ensure a relaxing, disaster-free winter.

Follow our tips for getting your property ‘fighting fit’ this winter – both for your own peace of mind, and for that of your tenants…

1. Clean your gutters

Old leaves can collect in gutters and drains leading to blockages which can cause significant damage, so it’s best to clean them regularly. Consider investing in gutter leaf guards to help prevent your gutters from becoming blocked in future. Always try to clearyour gutters before frost has the chance to set in.

2. Look at your roof

Ensure the roof is in good shape. Strong winds in winter can definitely affect the condition of your roof. Cold weather can rapidly and ruthlessly expose any weakness in the roof structure – plus if there are any leaks, you could end up paying far more money for repairs so make sure that the roof is strong enough to deal with the forces of winter. A roof service every 5 years can help prevent damage.

3. Check the pipes

Blocked or leaking pipes can freeze during the cold months, then expand and burst causing potentially expensive water damage. Make sure that all pipes are in good order, and that they are properly secured to the walls. You should also check the brickwork around your property for cracks, which could potentially allow water in.

Remind tenants to periodically turn the heating on (using the timer system if one is available) if they go away over Christmas, in order to ensure that pipes don’t freeze.

4. Avoid damp and mould

Condensation can be a particular problem in winter when warm air generated in a property from everyday activities meets cooler surfaces. Unless the property is properly ventilated, this build-up of moisture can lead to mould growth. Damp and mould can cause long-term problems for your property.

Ensure that extractor fans in kitchens/bathrooms are working and encourage your tenants to open windows and not to dry their laundry indoors.

5. Think about insulation

A properly insulated property is an absolute must. Make sure that you check the basics, starting with obvious draft points. Invest in some draft excluder to keep doors and windows secure. Check the cladding around your boiler and pipes, and make sure that the taps don’t leak.

Show your tenant that you care about their well-being this winter – book a service for your heating system to ensure it’s working perfectly. This can also prevent unexpected bills and emergency call outs if something stops working.

6. “Bleed” your radiators

Bleeding your radiators can be very handy for guarding your boiler against typical winter problems and it’s a great way to warm up your property. By doing this, it releases any trapped air, allowing hot water to fill every part of your radiator and warm the property more efficiently.

Talk to your tenant about having them bleed the radiators and ensure you get the radiators serviced on an annual basis.

7. Make sure your tenants are informed

Well-informed tenants are the best protection against winter property damage. Don’t assume that your tenants know how to deal with the cold weather; many won’t. Always remember that it is your responsibility as a landlord to make sure they have the information they need.

Consider putting together an information pack for them, including things like the location of stopcocks, basic boiler operation, and so on.

8. Avoid winter void periods

Void periods are a major threat during the cold months. If you know that your rental property is likely to be empty over the winter, you need to make extra plans to ensure its upkeep and protect your investment.

Make sure that you visit regularly to open windows and check on the heating. If you can’t do this yourself, make sure that you arrange for someone else to visit.

If you decide to sell your rental property rather than hold onto it through a winter void, remember you can sell landlord to landlord absolutely free on The Landlord Link. List your property today.

9. Check your Insurance Policy

Winter is a good time to check your insurance. Make sure your landlord insurance is in place and that you’ve got all the cover you need.

Landlord buildings and contents insurance can pay for repairs if your rental property is damaged by something like a floor or a storm.