Month: March 2021

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Why Landlords Should Give Their Property Strategy a Spring Clean

Why Landlords Should Give Their Property Strategy a Spring Clean

In this three-minute read, we explain why it pays for landlords to review the management of their property.

Spring is traditionally a time for a good tidy up and clear out. If you’re a landlord, it’s also an excellent opportunity to give your property management strategy a once-over.

Taking the time to review what is and isn’t working with your investment will save you money and energy further down the track.

What you’re looking for in your property spring clean are pinch points: issues that cause aggravation and loss of income.

Sometimes, we need to step back and look at the bigger picture to realise that a fresh approach is required.

Here are six tips for landlords.

Look back over your accounts. It’s surprising how many landlords get lax and lose track of their incomings and outgoings. Identify unexpected costs and how they could have been avoided. Was the problem poor tenant selection, bad communication, or a maintenance failure? If so, put systems in place to prevent issues from reoccurring.

Audit your time management. Your balance sheet might look fantastic but remember that time is money. If you’re spending several hours each week sorting out problems with your property (and it’s impacting other areas of your life), something doesn’t add up.

Review your insurance. All landlords should have buildings and liability insurance. Many also opt for rent and legal protection, and to cover loss of rent (due to fire or flooding). Assess whether you have the right cover to suit your situation, and then shop around for a better deal. (Often, insurers save the best deals for new customers, so it’s worth switching.)

Research mortgages. Check the terms of your mortgage. If it’s due to end soon, let us know and we’ll put you in touch with the award winning Cooper Associates who offer a fee free Financial Review for landlords. This may sound obvious, but we recently spoke to a landlord (a busy professional battling through lockdown), who was aghast to discover that his deal had ended months ago and he had been bumped to the lender’s much higher standard variable rate.

Revise your contacts. It’s always helpful to have good tradespeople in your contacts list in case of an emergency. If you haven’t spoken to your plumber, sparky or builder in a while, check in with them to make sure that they’re still working in the South Devon area.

Consider the services of a letting agent. If you use an agent, analyse the level of service you’ve received over the past year. If you’re not entirely happy, test the water to see if a more suitable option is available. If you don’t use a letting agent, reach out to discuss fees and services. It could be that having an expert manage your property frees you up to focus on other priorities.

Get in touch with us here at Chamberlains to learn more about our property management services.

© Chamberlains 2021

 

 

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Seven Ways People Pulled Together During the Pandemic

Seven Ways People Pulled Together During the Pandemic

In this two-minute read, we look at the ingenious ways communities pulled together during the pandemic to spread joy and raise spirits.

In years to come, when we talk about living through the pandemic, we’ll no doubt mention face masks, home-schooling, and Zoom meetings.

But let’s not forget the countless examples of kindness and resourcefulness that we’ve witnessed in the community over the past 12 months.

Here are seven examples of can-do spirit in action.

Mutual aid groups

Since last March, 4,000 mutual aid groups have formed in the UK, providing an army of local volunteers who have delivered hundreds of thousands of food parcels, meals, and medicines to people in need.

Team spirit

A social club in Pontypool, Wales, transformed into a foodbank and supplied hundreds of families with food, baby clothes, and school uniforms. Allan Peploe, a driving force behind the Panteg House Foodbank, said he often went hungry as a child – and didn’t want anyone else to go without food.

Major effort

Army major turned care home manager Jonathan Cunningham had an electric rickshaw fitted with a Perspex screen. He then took residents of Birkdale Park Care Home for spins around their hometown of Southport. The fresh air and a change of scene worked wonders. 

Hats off 

When the going got tough in Milton Keynes, the tough got knitting. In December, the local hospital appealed for hats to help keep premature babies warm and local knitters responded by producing more than 3,000 dinky red beanies in a few weeks.

The power of song

In Warwickshire, an online choir helped people with long-term lung problems improve their breath management and ward off depression. Singer Keith, who took part in the My Voice Lifts My Soul project, said: “The choir gave me a reason to get out of bed in the morning.”

Gin-o-clock

During lockdown, residents in over-70s independent living facility Williamson Court, Lancaster, started their own in-house delivery service. On Thursday mornings, volunteers delivered cakes to residents’ doors, and on Friday nights, a gin trolley rolled around.  

Musical fundraiser

When Rebecca Parker, 98, vowed to play the piano for 100 days in a row, the local community responded generously. Rebecca played Scottish tunes to her fellow residents of McClymont House, Lanark, for three months and raised £17,500 for Lanarkshire Health Board Endowment Funds.

From the team at Chamberlains keep smiling and take care.

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Electrical Checks Deadline Looms for South Devon Landlords

Electrical Checks Deadline Looms for South Devon Landlords

In this two-minute read, we look at new rules on electrical safety reports that come into force next month.

It’s no joke: landlords who fail to get an Electrical Installation Condition Report (EICR) for their rental property by 1 April could face a fine of up to £30,000.

The government made EICRs mandatory for new tenancies last June, but from 1 April, all tenancies will need an EICR.

If you haven’t got an EICR for your rental property yet, you need to act quickly.

What is an EICR?

It’s basically an MOT for the electrics in a rental property. A suitably qualified electrician (visit NICEIC to find one) checks that all electrical installations such as the wiring, sockets, and lights are in safe working order.

Any faults are graded, ranging from C1 (the worst rating, requiring immediate action) through to C3 (meaning improvement is recommended but not required).

How long is an EICR valid for?

Five years.

Who enforces the EICR?

Local authorities. Landlords must present an EICR within seven days of a request from the local authority. As we said earlier, the fine for not doing so can reach £30,000.

What happens if an inspector finds a problem?

You must act; the safety of your tenants and your property could be at stake. In 2019, electrical issues caused more than 19,000 fires in the UK.

What do landlords do once they have an EICR?

Landlords must supply a copy to each tenant within 28 days of the inspection and retain a copy for themselves.

What about Covid-19?

It may be difficult for an electrician to enter a property if your tenant is self-isolating. But you must have evidence that you have taken all reasonable steps to comply with the regulations, so keep a detailed paper trail.

Two more things

  • The electrician will need to turn the power off to do the inspection, so forewarn your tenants.
  • Time is of the essence. It takes 48 hours to process a report, but if you need to carry out remedial works, the process will take even longer. Don’t dither. Book your inspection today.

If you have questions about EICRs, get in touch with us here at Chamberlains

© Chamberlains 2021

 

 

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Five Things to Think about on the International Day of Happiness

Five Things to Think about on the International Day of Happiness

In this two-minute read, we look at how the pandemic has given us a greater appreciation for life’s little pleasures.

As tomorrow is the International Day of Happiness, let’s tune out from the negative headlines for a moment and reflect on a few positives.

The theme for this year’s event is Keep Calm. Stay Wise. Be Kind – a motto that chimes perfectly with the times.

Over the past year – and yes, it’s almost a year since we were told to Stay at Home – we’ve witnessed many examples of calmness and kindness and learned a few important lessons along the way.

Here are a few things we’ll take away from the past 12 months.

  • The importance of community. Before the pandemic, many of us were barely on nodding terms with our neighbours. Twelve months on, things have changed. From setting up food banks, to donating laptops and delivering medicines, kind-hearted folks have shown that charity really does start at home.
  • Enjoyment of nature. Spending so much time indoors has amplified the joys of being outdoors. Whether it’s sitting in the garden or wandering through one of our amazing parks or on the moors, we’ve realised just how blissful birdsong and fresh air can be.
  • Health matters. The link between obesity, smoking, and negative Covid outcomes really brought home the importance of looking after ourselves. As a result, many people have adopted healthier lifestyles by taking up a new sport (sales of bikes and running shoes have skyrocketed) or ditching junk food. Meanwhile, 300,000 Brits have quit smoking.
  • Home truths. The pandemic brought the issue of quality of life into sharp focus and prompted many to rethink where and how they live. As a result, many folks moved to gain more space, better WiFi or be closer to their family. Lots of people now have a clearer idea of how they want to live and have reorganised their lives to match these aspirations.
  • We savour the little things. Oh, how we miss popping over to a friend’s place for a cuppa, eating out at restaurants, and visiting the pub. We used to take these things for granted, but when we get back to “normal” and can do them, we’ll savour each and every experience.

 

From the team at Chamberlains, stay safe and keep smiling.

 

© Chamberlains 2021

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Six Ways Letting Agents Save Landlords Time

In this two-minute read, we look at how letting agents handle the fiddly, time-consuming elements of renting out a property (part two of a two-part series).

In part two of our series on property management, we look at how letting agents save landlords time – that precious commodity that is always in short supply.

A survey of 500 landlords found that using a letting agent saves a landlord on average six hours a month (source: Endsleigh Insurance).

We would go further and argue that letting agents don’t just save landlords time, but the right sort of time.

It’s one thing to get a call from your tenant saying a pipe has burst; it’s another if the call comes through while you’re sipping a cocktail on your long-awaited holiday.

Landlords must be on call 24/7 as property management is unpredictable. It doesn’t matter if you’re abroad, or under the cosh at work, if something goes wrong, you need to drop everything and act. Unless you have a letting agent, in which case they’ll handle it for you – while you keep sipping that cocktail.

Here’s a list of six ways letting agents save South Devon landlords time.

  • Find good tenants.The key ingredient to a successful let is a reliable tenant. Letting agents are experts at tenant sourcing and reference checks.
  • Make sure you follow the law. There are more than 175 plus laws that apply to landlords in the UK. A letting agent will make sure you follow them all – and hence avoid a hefty fine or a criminal charge.
  • Conduct inspections. A letting agent will conduct regular inspections to check that there are no safety or maintenance issues and that the tenant is meeting their obligations.
  • Handle evictions.A letting agent will navigate this complex and stressful process for you.
  • Manage day-to-day tenant relations.A letting agent provides a buffer between the landlord and the tenant. It’s the agent’s job to check in with tenants and maintain good lines of communication.
  • Deal with the paperwork.A letting agent will deal with the admin and keep a clear paper trail.

In part one of this series (published last week), we looked at the financial benefits of using a letting agent to manage your property. If you missed it, you can read it here.

To learn more about our tenant finder and property management services, contact us here at Chamberlains.

© Chamberlains 2021

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British Science Week: Celebrating Bright Ideas and Brainy Breakthroughs

In this two-minute read, we look at some of the milestone moments in British scientific history.

It’s British Science Week this week so let’s celebrate the pioneering men and women who have changed the world.

As science buffs in South Devon will undoubtedly know, Britain has a long tradition of invention and discovery.

The list of breakthroughs made on our shores is long and impressive. We couldn’t possibly include them all here, so we’ve focused on six landmark moments.

Oxford AstraZeneca Covid-19 vaccine

There are several Covid-19 vaccines (and we celebrate them all), but the formula developed by Professor Sarah Gilbert and her team at Oxford University is unique for many reasons. It is much cheaper to produce than other Covid jabs, only requires standard refrigeration (making it easier to roll out), and can be manufactured worldwide.

Penicillin

Scotsman Alexander Fleming discovered penicillin while working at St Mary’s Hospital in Paddington, London, in 1928 – and changed the face of modern medicine. His discovery led to the development of antibiotics, which have saved millions of lives around the world.

The first computer program

Mathematician Ada Lovelace worked closely on developing the world’s first computer, the “Analytical Engine”. During the 1840s, she wrote the algorithm for this machine and hence is known as the world’s first computer programmer.

The DNA helix

DNA was discovered in the early 1800s, but it wasn’t until the 1950s that Cambridge duo James Watson and Francis Crick identified its twisty double helix structure. Their groundbreaking work paved the way for a host of scientific breakthroughs in gene sequencing and forensics.

World Wide Web 

In 1989, English computer scientist Tim Berners-Lee told his bosses at CERN in Switzerland about a bright idea he had to improve information sharing. His managers were lukewarm about the proposal, but Tim (now Sir Tim) pushed ahead anyway and created the World Wide Web. His invention revolutionised the way we communicate, shop, bank, and date.

The steam engine

Devon-born engineer Thomas Savery patented the first steam pump in 1698. Over the next century, inventors Thomas Newcomen, James Watt, and Richard Trevithick all came up with refined designs. In 1825, the first steam locomotive to haul passengers on a public railway rattled its way along the Stockton and Darlington Railway. Father and son team George and Robert Stephenson built it.

Our team at Chamberlains are boffin like experts when it comes to the sweet science of helping people move successfully. Just don’t ask us about the theory of relativity (Google it if you must, we had to).

 

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How to Secure the Snappy Sale of Your Home This Spring

In this two-minute read, we look at ways to prepare your home for a successful spring sale (part one of a two-part article).

If you’re planning to put your home on the market in the next few months, now is the time to spring into action (see what we did there?).

Traditionally, the property market booms in springtime, with many buyers and sellers opting to wait out the winter and make their move when the days start to get longer and warmer.

With spring just a few weeks away, we’ve compiled a list so you can prepare your property for sale.

This article covers the first five points (and stay tuned for part two next week).

Have a spring clean

Now is the time to have a good clear out. Prospective buyers are looking for a home that they can make their own and will find piles of bric-a-brac a turn-off. And don’t just focus on the living areas and bedrooms. Declutter the bathroom and remove cleaning and beauty products from view.

General maintenance

Is your home looking a little tired after a year of pandemic living? Freshen up the walls with a lick of paint and do all the odd jobs – like clearing the gutters – that you’ve been putting off.

Get an expert valuation

The property market has been the subject of all sorts of headlines during the past year. Until you speak to an expert, you won’t have a realistic picture of the South Devon housing market and what you can expect to get for your property.

Think about presentation

Put yourself in the shoes of a prospective buyer and imagine how they might make use of your property. Perhaps the spare room you use for a home gym would be more appealing if presented as a home office? Speak to an estate agent for advice about how to present your home so you can maximise your asking price.

Get planting

More than ever, people are craving outdoor space and access to nature – so give them what they want! Plant colourful flowers at the front and back of your property for immediate impact. If you don’t have a garden, use plant pots to create interest.

If you’d like an update on the state of the South Devon housing market, or advice about selling your home, get in touch with us here at Chamberlains.

©Chamberlains 2021

 

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Top Reasons Why Landlords Should Use a Letting Agent

In this two-minute read, we look at the benefits of using a letting agent to manage your rental property (part one of a two-part series).

Almost every landlord has weighed up the merits of self-managing their rental property versus using a letting agent. After all, why pay someone to do something you do yourself, eh?

It’s a reasonable enough question to which we have an emphatic answer: there are many reasons to get an expert to manage your investment property (we can think of at least 12).

It makes sense from a financial point of view (as we’ll explain in this article) and from a time management perspective (stay tuned for part two next week, where we’ll cover this). Let’s look at the first six reasons.

A good letting agent will:

  • Save you money.Let’s cut to the chase: a letting agent will improve your profit margin. According to research, a letting agent saves a landlord on average £1,910 a year (source: Endsleigh Insurance).
  • Share market insight. Letting agents know the local market like the back of their hand and provide expert advice about setting rents. Go too high, and your property will sit empty. Go too low, and you’ll miss out on revenue.
  • Help you access top tradespeople. Letting agents have a selection of reliable professionals on speed dial, so when you need a plumber, sparky or builder, you won’t get messed around by someone who cuts corners and charges the earth.
  • Chase rental payments.A letting agent will address late payments in a professional and timely manner. Landlords with hectic schedules often prefer to let an expert deal with the hassle of chasing late rent.
  • Handle the inventory. Get a pro to do your inventory so you don’t lose money at the end of a tenancy. When it comes to assessing damage and ensuring the property has been adequately cleaned, a good inventory is crucial.
  • Sort the end of tenancy inspection. Even smooth-running tenancies can get complicated towards the end. A letting agent will handle the final inspection and ensure you’re not left out of pocket for cleaning or repairs.

Watch out for six more tips in part two of this article which will be released next week.

Get in touch with us to learn more about our property management services.

© Chamberlains 2021

 

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Tips for Managing Your Child’s Return to School

In this two-minute read, we look at how parents in South Devon can help their children adjust to being back in the classroom.

After many long and draining weeks of learning from home, children across the UK are finally returning to school.

While weary parents may be glad to see the back of homeschooling, some children may find the transition from front room to classroom daunting.

After spending so much time at home, dealing with the hurly-burly of school life might prove challenging for young people.

Here are some back-to-school tips from the NSPCC and mental health charity Place2Be.

Sleep tight

  • If your routine slipped during lockdown (and let’s face it, almost everybody’s did), readjust your child’s bedtime so that they’re not tired when you get them up for school.
  • If your child has a tablet or phone, make sure that they’re not using it close to bedtime as this will interfere with their sleep.
  • Exercise and fresh air aid a good night’s sleep, so if your child is experiencing broken sleep or is feeling anxious, get outside in the great outdoors.

Talk and listen

  • Talk to your child about how and why some things at school – such as lunchtime, playtime and PE – might be subject to different rules. Children are remarkably adaptable, but it’s worthwhile being upfront about the unusual situation in which we find ourselves.
  • If your child struggles to express themselves, encourage them to draw, paint or write about what’s on their minds. Putting our thoughts down on paper can have a soothing effect and help put things into perspective.
  • If returning to the classroom is making your child anxious, arrange to meet one of their friends on the way to school so that the two can chat before they get to the gates. Most likely, they’ll be so busy catching up with their mate that they’ll forget their nerves.

Advice and support

  • If your child seems stressed, show them Childline’s Calm Zone and explore some of the relaxation tips, breathing exercises and games on offer.
  • If catching up on lost lesson time is proving difficult for your child and you’re considering hiring additional support, read the NSPCC’s safety tips for hiring a tutor before you do anything.
  • Talk to a teacher or school counsellor if you feel concerned. Some parents feel embarrassed seeking mental health support for their child, but it’s okay to ask for help.

Charities that can help

The NSPCC

Place2Be

Childline

From the team at Chamberlains, stay safe and take care.

©Chamberlains 2021

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What the Spring Budget Means for Home Movers in South Devon

What the Spring Budget Means for Home Movers in South Devon

A two-minute read.

This afternoon the Chancellor Rishi Sunak outlined his plans to get England back on track as we come out of the pandemic.

Among furlough extensions, extra support for the self-employed and business loan schemes was the welcome news that the stamp duty holiday is being extended.

When it was introduced, the original deadline was March 31 2021.

Here’s what the Chancellor announced this lunchtime.

Until 30 June 2021, no stamp duty will be charged on a residential property bought for up to £500,000.

Until 30 September 2021, no stamp duty will be charged on a residential property bought for up to £250,000.

From 1 October 2021, the stamp duty rate returns to pre-Covid-19 thresholds.

What it Means to Movers

For people with sales currently in our pipeline, it means they will not miss out on the savings the holiday is providing. This is potentially thousands of pounds and means people’s moving plans will not be disturbed.

Mortgage Market Opened Up

There was also good news for people planning to buy a home but struggling to save what is often a sizeable deposit.

Sunak announced a Mortgage Guarantee scheme that means homebuyers will be able to access 95% mortgages, backed by the Government, from High Street banks and lenders.

Lenders are being offered incentives to provide mortgages to first-time buyers and existing homeowners, with just 5% deposits to buy homes worth up to £600,000.

The Chancellor said: “This will give people the chance to go from Generation Rent to Generation Buy.”

If the Spring Budget has made you want to proceed with your moving plans, we’d love to help you.

To find out more about what the stamp duty holiday extension and Government-backed mortgage guarantee scheme means to you, call your local office.

Thanks for reading.

©Chamberlains 2021