Posts with tag: rental property

StudentTenant moves into Mainstream Market with ClickTenant

Published On: October 27, 2017 at 9:40 am

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Categories: Lettings News

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Online student property expert StudentTenant.com has launched a brand new online letting agency for the wider residential market – ClickTenant.com.

The new business is offering the first let for free on all new properties, and then a hugely competitive pricing model after that to source tenants and manage landlords’ properties.

ClickTenant has been introduced in the midst of increasing costs and reduced tax relief for landlords, in the hope that it will provide a much more cost-effective and efficient service. The website uses technology to streamline the entire property lettings process.

StudentTenant moves into Mainstream Market with ClickTenant

StudentTenant moves into Mainstream Market with ClickTenant

Danielle Cullen, who has been the driving force behind StudentTenant’s success over the past three years, is the Managing Director and Co-Founder of ClickTenant.

She says: “We have automated a lot of the arduous administrative processes, making the customer journey much more efficient and streamlined. It also significantly saves our staff’s time, meaning less will be needed, allowing us to pass the savings onto the landlords. Viewings and bookings can be managed online, credit checks can be carried out in a few clicks, and an array of additional services can be obtained through instant quoting systems from partner integration.”

ClickTenant believes that its main competitiors will be high street letting agents, who currently control 94% of the sales and lettings markets.

Cullen continues: “Whilst the market is slightly more saturated compared to the student sector, we see our main competitors as the expensive high street letting agents. Online letting agents still only make up just 6% of the current market, giving huge growth potential.

“ClickTenant.com is also one of very few platforms that are heavily tenant focused. We wanted to include very dominant and innovative search tools for tenants on the homepage, to encourage more actions to be carried out on our site. Many competitor websites rely solely on partner platforms to generate leads, but we wanted to concentrate on building our own brand and creating a platform that consumers will recognise.”

The new website has different advertising tiers. The most basic package offers advertising on major property portals Rightmove and Zoopla, as well as a credit check on all incoming tenants. The first let will be free for all properties, and the business will only charge a success fee thereafter, unlike many other platforms, where upfront fees are required to advertise.

The new business can also assist with the formulation and signing of tenancy agreements online, deposit collection and full property management, including British Gas maintenance cover – all at a fixed price.

Another of the Co-Founders of ClickTenant, Simon Vaughan, comments: “Although ClickTenant.com is a new venture, we’ve got a wealth of experience in operating a national online property business. Our team have been doing this successfully in the student sector for a number of years now.

“Through StudentTenant.com, we’ve learnt that providing a great service by working very closely with our customers is key. The ethos of ClickTenant.com will be to work in partnership with landlords. We are prepared to list their properties for free and, in return, we ask that they advertise our business – either through a post on social media or by word of mouth. We know the importance of building strong relationships from the outset.”

He concludes: “We see huge potential for growth in what we are offering. What landlord wouldn’t want to advertise their property on all of the major portals for free and have the tenant credit checked? We are also able to offer full letting agent services, at a price that we haven’t found anyone else to be matching.”

If you’re looking to market a rental property, why not check them out?

London Bridge is the Most Desired Location for Overseas Renters

Published On: October 5, 2017 at 8:12 am

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Categories: Property News

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London Bridge is the most searched for location for mid to long-term tenancies in the capital from overseas renters, according to data from rental accommodation platform Spotahome.

London Bridge is the Most Desired Location for Overseas Renters

London Bridge is the Most Desired Location for Overseas Renters

London Bridge attracted more than twice the interest than the next most searched for locations – Camden Town and Shoreditch.

Spotahome is predominantly used by overseas renters moving to the UK for a minimum of 30 days. The website has found that London sees a high level of demand from overseas renters in France, Spain and Germany in particular.

This explains why locations in London that are well known outside of the UK, such as London Bridge and Camden, are so popular. But Spotahome is also seeing the growing popularity of areas such as Stratford, Hammersmith and Ealing – the next most searched for locations on the platform.

The CEO of Spotahome, Alejandro Artacho, says: “The demand for property in key locations around London remains high and growing, and in places such as London Bridge, it is unlikely that this will fall. There is a growing opportunity for landlords to meet mid to long-term rental demand in locations such as Stratford, Ealing and Hammersmith, as there is not currently enough rental stock to satisfy the demand in east and west London in particular.

“Individuals and landlords with property in areas which are growing in demand – such as Ealing, which is undergoing an exciting regeneration process – can look to take advantage of this by putting their spare room or properties up for rent. With the average rental asking price on the site currently standing at £763 for a flatshare to £902 for a whole property, homeowners could stand to earn £9,000 to £11,000 a year, before tax.”

He continues: “London is an international hub, with thousands of individuals moving to the city on a daily basis. Unfortunately, homeowners across Greater London are yet to wake up to the earning potential of their spare rooms, resulting in black holes across London where demand for accommodation far outstrips supply. Spotahome enables potential landlords to find a tenant without the hassle of having to spend days organising and conducting interviews, meaning that renting out your property is a far easier and a less time consuming process.”

This research reveals a great opportunity for landlords to tap into the overseas renters market in certain spots across London – will you invest?

Landlords Mustn’t Let their Heart Rule their Head when Purchasing Property

Published On: August 31, 2017 at 9:45 am

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Categories: Landlord News

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Landlords Mustn't Let their Heart Rule their Head when Purchasing Property

Landlords Mustn’t Let their Heart Rule their Head when Purchasing Property

Buying a property as a landlord requires a completely different mindset to purchasing as a homeowner – the key difference being that, as a landlord, you must not let your heart rule your head.

Becoming a buy-to-let landlord is a business move and the objective of your investment is to make a profit. As with any business decision, it’s important to leave your emotions at the door – something that can be particularly difficult when purchasing a property.

Of course, it is important that you are happy with the location of the property, the layout of the interior and think it is a suitable place to live, but it shouldn’t be your ideal home. As long as the property is likely to be someone’s ideal home, that is all that matters. Although this mindset can be difficult for first time landlords, it is the key to a stress-free and successful let.

With tenants spending longer periods in rental housing than ever before, amenities such as local schools, transport links and employment opportunities are becoming more and more important.

Before investing in a property, it’s essential that you research what tenants want, which locations are in high demand and where you can achieve the highest rental yields. It is also a good idea to speak to local letting agents, as they are in the best position to advise you of not only what types of properties tenants are looking for, but also if there are any gaps in the market.

Investing in property is a long-term investment and does not always give off instant rewards. Therefore, you should make sure that the property you buy is aligned with the wants and needs of the tenants you are hoping to attract, and that there is sufficient demand for rental housing in that area – this way, you will minimise the risk of costly void periods!

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Record Lows for UK Lettings Market in July, Reports Agency Express

Published On: August 18, 2017 at 9:34 am

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Categories: Property News

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Record low numbers of properties coming onto the lettings market were recorded in July, according to the latest Property Activity Index from Agency Express.

Record Lows for UK Lettings Market in July, Reports Agency Express

Record Lows for UK Lettings Market in July, Reports Agency Express

Across the UK as a whole, the amount of new listings to let dropped by 9%, marking the largest decrease for July since 2013. In contrast, the number of properties let during the month rose by 3.6%.

Looking back at the index’s historical data, this is an improvement on figures recorded in 2016, where the amount of properties let dropped by 5.2%.

Observing activity across the UK, seven of the 12 regions included in the index experienced growth in the number of properties let in July, while just two saw increases in properties coming onto the lettings market.

Prominent performing regions in July included:

Properties to let 

  • North East: +5.2%
  • East Anglia: +3.4%

Properties let

  • North East: +25.3%
  • East Anglia: +20.8%
  • West Midlands: +13.6%
  • East Midlands: +11.8%
  • Scotland: +9.3%
  • South East: +8.4% 

July’s top performer was the North East. After seeing record low numbers in June, the region has bounced back, with new listings up by 5.2% and properties let by a robust 25.3%. However, while July’s increase in new listings is strong, figures remain down compared with July last year.

The largest decrease in this month’s Property Activity Index was in central England. Following record best figures in June, new listings dropped by 23.3%.

Scotland also recorded a substantial slowdown, dropping by 20.1%, marking the region’s largest monthly decline for July since the index began in 2012.

The Managing Director of Agency Express, Stephen Watson, comments: “This month, we have witnessed much slower movement throughout the UK lettings market. While it is not unusual to have a slowdown in activity during July, we are seeing far less rental properties hitting the market compared to 12 months ago.”

Click the following link to compare these figures to June’s data: /rental-market-activity-cooled-june/

 

Landlords, BBC One Needs You to Join Show!

Published On: August 2, 2017 at 8:07 am

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Categories: Landlord News

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Landlords, BBC One Needs You to Join Show!

Landlords, BBC One Needs You to Join Show!

We’re sure that many of you will have seen or at least heard of the BBC’s popular The Week the Landlords Moved In, a programme that shows what happens when landlords step into their tenants’ shoes. Now, you’re being given the opportunity to get involved!

Boundless Productions, which makes the hit show for BBC One, is looking for successful landlords to feature in the documentary series.

The life-swap style series, which first aired on BBC One on Wednesday 28th June 2017 at 9pm, challenges successful landlords to move into their tenants’ properties for one week.

In a time when the country’s private rental sector is expanding rapidly, the show is an opportunity to explore and reflect on how housing is changing, and what benefits and challenges come with that – for both landlords and their tenants.

If you’re a successful landlord, you can get involved and feature on the programme yourself! To find out more and get more information, contact Sally from Boundless Productions at: sally.ainsworth@boundlessproductions.tv or call: 0207 691 6202.

To get a taster of what you may be in for, catch up with the current episodes on the BBC iPlayer here: http://www.bbc.co.uk/iplayer/episodes/b08wzwhq

In the first episode, father and son landlords were surprised to find the tenant hadn’t informed them of mould and broken appliances in the property. After a week of living in a freezing flat, they also discovered that the heating bills were too expensive for the tenant to afford, causing the mould to grow. In a positive ending, the landlords renovated the flat and offered to help the tenant pay her heating bills in the future.

The second airing uncovered a surprise for the tenant, who found that he had been paying his neighbour’s bills for several years. The landlord made sure to resolve the issue and offered his tenant £100 as a gesture of goodwill until the problem was sorted.

The Association of Independent Inventory Clerks has said that the programme is serving as a real eye-opener for the industry, highlighting the lack of communication between landlords, their management companies and tenants.

Do you fancy swapping lives with your tenants? Get involved and join the winning show!

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Over a quarter of tenants keep their pet a secret from landlord

Published On: July 31, 2017 at 10:50 am

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Categories: Landlord News

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An interesting new survey of 2,000 tenants from pet insurance provider AnimalFriends.co.uk has revealed that 27% have not told their landlord about their pet before moving into their rental accommodation.

Over half of respondents said that they owned an animal before living in their rental property, but 13% were left with no alternative but to rehome their pets.

Pets (not) at home

A number of landlords refuse to accept tenants with pets, making it difficult for many to secure accommodation. As such, it is unsurprising that several renters with furry friends chose to hide them altogether!

10% of tenants choosing to keep their pet said they had to physically hide them before a visit from their landlord, for fear of severe consequences.

Just last month, the National Landlords Association, warned that new Government initiatives to regulate security deposit fees could see many landlords ban pets, due to the risk of damage being caused.

Over a quarter of tenants keep their pet a secret from landlord

Over a quarter of tenants keep their pet a secret from landlord

Data from the report reveals that nearly one-fifth of animals had caused damage to a rental property. 12% recorded damages to fittings while 6% ruined furniture.

Westley Pearson, Managing Director of AnimalFriends.co.uk, noted: ‘It’s important to ensure that you’re able to properly look after any animals before you decide to bring one home with you and that includes making sure both you and your pet will have a place to live.’[1]

[1] https://www.landlordtoday.co.uk/breaking-news/2017/7/more-than-a-quarter-of-private-renters-keep-pets-a-secret-from-landlord