Welcome to the June edition of our newsletter.
Firstly, everyone in the team at Lenwell would like to offer our congratulations to HM the Queen on the occasion of her Diamond Jubilee. Sixty years as our monarch and head of the Royal family is a fantastic achievement.
In this newsletter, Lucinda Newell takes her own look at the Diamond Jubilee and there are plenty of articles on various aspects of the property market and private rental sector.
As always, the team and myself look forward to being of assistance to you and please do not hesitate to contact us with any questions or queries.
Landlords upbeat about buy to let.
Property investors are positive about the outlook for the buy-to-let market, research from specialist lender CHL Mortgages suggests
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CLG lobbies for private rental sector tax breaks.
The Communities and Local Government committee has recommended that government simplify tax and regulatory structures that apply to private landlords
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Landlords increase portfolio sizes.
Landlords increased their portfolio sizes by 1.8 properties over the first quarter of 2012, research commissioned by Paragon Mortgages reveals
.... Click here to read full article
The Lucinda Newell Column
To be seen pottering along the highways and byways of Luton in her Mini Clubman, her trusted Scottie Malcolm at her side, our super sleuthing property rental expert Ms Lucinda Newell is on the case on your behalf!
As a young girl I remember the Coronation of Queen Elizabeth II quite clearly. Our street was decked with bunting and everyone seemed to be enjoying themselves despite ongoing rationing and the memories of World War Two still vivid in the minds of most people
.....Click here to read full article
A new survey of ARLA members suggests that overall demand is outstripping supply for rental properties. During the first three months of the year, 56% of ARLA members' offices reported that there were more house-hunting tenants than there were properties available for them, but this may be a mixed picture across the UK with pockets of high demand.
Ian Potter, ARLA Operations Manager said: "In many parts of the country our members are seeing an unprecedented level of demand for rental homes. However, although the rental market is highly competitive, it is still possible to find that ideal home - if the search is carried out in a thorough, well-informed and realistic manner."
ARLA's guide for house-hunters looking to secure a rental property is:
Work out your priorities
Before booking viewings, set in place key 'deal-breakers' as well as areas for compromise, and agree these with your partner or house-mates. Knowing what things you are willing to be flexible on can aid the decision-making process and help your agent select properties to suit your specific needs.
Don't go it alone
A problem shared is a problem halved, which is why it can be useful to bring a friend or family member along to any viewings for that crucial second opinion. Further to this, using an agent can make the process easier. Licensed ARLA members have industry-leading market knowledge, and are regulated, giving you access to client money protection and a redress scheme as well as an informed opinion.
Be prepared to make a prompt decision
With the best properties often being let quickly, it is important to be able to make a swift and informed decision. However, it is even more important not to feel pressured into accepting a property that does not fit your agreed standards - quick decisions are different from rushed decisions.
Get a flavour of the local market
If you are moving to a new area, check it out on foot to get a feel for it before you begin your search. It is also a good idea to conduct on line research early on into the average rents for the area to build up a picture of likely prices and adjust your own expectations, or budget, accordingly.
Get your own house in order
If possible, try to get your references and deposit ready before beginning your search. This will help to minimise delays once you have found the property you wish to rent.
At Lenwell we agree with ARLA’s view that preparation is important and our experienced advisers will be pleased to assist you every step of the way.
Should you have any comments or questions, as always, we would be delighted to hear from you.