Month: April 2022

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What to Do Before Renting Your Property to Family or Friends

What to Do Before Renting Your Property to Family or Friends

Here are some questions you should ask yourself before you rent your property to family or friends.

Do they need to sign a tenancy agreement?

Yes, yes, and yes again! They might be family, but they’re also your tenants and both parties need to know what is expected of them. For example, they might say they want to stay for 12 months but then leave after just six. Without a tenancy agreement, there’s nothing to stop them – putting your income at risk.

Should I take a deposit?

This is a personal decision that you need to make, as there’s no legal requirement for a landlord to take a deposit. However, it is a good way to protect your property and any contents from damage.

Similarly, by having a professional inventory carried out before they move in, both parties know the exact condition of the property and how it should be left.

Should I do a tenant reference check?

Asking family for personal finance details? It might make you feel awkward just thinking about it, but it’s an essential step of the rental process.

While you may think you know your family/friends’ financial background, it’s still worth making extra checks. Referencing will ensure that your potential tenant can pay the rent and highlight any issues with previous landlords.

Are there any legal issues I should be aware of if I rent to family/friends?

Not exactly, but renting to family/friends could cause problems if you have a mortgage. In fact, a lot of lenders are quite strict about this issue, and you may need to ask their permission before you move family in.

This is because the lender could be concerned that you’d charge family members less rent, or be more lenient if they didn’t pay – both of which could impact loan repayments.

Renting to friends or family can often be a great option, but it’s one you need to consider carefully and go into with your eyes wide open.

For more advice on anything and everything related to rental property in Teignbridge, call our lettings team today.

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World Earth Day 2022

world earth day

In this two-minute read, we look at what we can all do to play a part in the fight against climate change.

It’s never been more evident in human history that we need to change the way we live if the planet is to have a future.

So, this year’s World Earth Day, which takes place on Friday, 22 April, has never been more important.

The day which has been taking place across the globe for more than 50 years, aims to raise awareness of what we can all do to make a difference.

We’re encouraging people to consider some of the ten tips below to adapt the way we all live to a more sustainable, environmentally friendly way.

  1. Cycle or walk where possible.
  2. Buy second-hand items – we prefer to call them pre-loved
  3. Eat local, seasonal produce
  4. Shower instead of bath
  5. Wash clothes at 30 degrees or lower
  6. Make sure your home is well insulated
  7. Consider buying an electric car
  8. Use LED bulbs
  9. Recycle and upcycle
  10. Share these tips

As an agency, we are putting together a sustainability statement to outline all the ways that we are going to do our bit to reduce our carbon footprint. From ensuring we only use FSC paper to looking at our energy suppliers and use, we’ll cover all aspects of our business to make sure we are doing the best we can. More info to follow!

What tips do you have for going green?

Thanks for reading.

 

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Why Landlords Should Respond Promptly to Tenants (And Not Mess Them About)

Why Landlords Should Respond Promptly to Tenants (And Not Mess Them About)

When a tenant gets in touch, don’t faff about – a prompt response will save you time and money in the long run. A three-minute read.

 

Picture this: you’re frantically busy at work, scrambling to meet an urgent deadline when your phone pings.

It’s your tenant raising what seems like a pretty minor issue, so you make a mental note to get back to them in a few hours when things calm down.

But time flies, and before you know it, days have passed, and you still haven’t taken action to address the issue raised.

Most landlords will be familiar with this scenario, although you could easily substitute ‘urgent work deadline’ for ‘important family commitment’ or ‘life in general’.

While time management is a challenge for us all, it’s not good practice to drag your heels when addressing tenant concerns.

Here are six reasons why you should always respond to tenants in a timely fashion.

 

  • Build trust– Ignoring your tenant sends a message that you’re not that bothered – about them or the state of your property. To build a good rapport (one that encourages your tenant to stay long term), you need to be responsive.

 

  • Nip problems in the bud– Issues like leaks and damp will only get worse (and more expensive to fix) the longer you leave them. Address problems before they escalate into serious repair jobs.

 

  • Health and safety– It can be difficult to tell if an issue is a minor quibble or a major safety risk unless you investigate. Ignoring a concern or jumping to conclusions without knowing the facts could put your property and your tenant’s safety at risk.

 

  • Avoid getting fined– Your tenant could be raising a valid issue – one that, if left unaddressed, could land you with a hefty fine from the local authority for breaching health and safety regulations.

 

  • Insurance – Failing to act on an issue that has been raised could invalidate your insurance and leave you footing the bill after a major incident, such as a burst pipe or fire.

 

  • Good karma– What goes around comes around. If you ignore a tenant’s texts and emails, what do you think they’ll do when you try to get in touch with them?

 

In today’s digital world, people expect a quick response day and night. If this 24/7 obligation is too onerous for you, get a letting agent to manage the property – they’ll be the ones on call round-the-clock instead of you.

 

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

 

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Why Selling Your South Devon Home Should Be a Team Effort

Why Selling Your South Devon Home Should Be a Team Effort

Selling a home is not a solo project – well, not if you hope to achieve top selling price. A three-minute read.

If there’s one piece of property advice worth remembering, it’s this: be wary of anyone who tells you that selling a home is so easy that you should do it yourself.

Many things in life are easy, like singing Baa Baa Black Sheep out of key or eating a whole packet of chocolate biscuits/family-sized crisps in one afternoon.

But what’s not a doddle is achieving top asking price for a property (and if you’re going to the effort of selling your home, that’s what you want, right?).

It takes a team with expertise and experience across a range of areas to nail a great sale.

Not even the most ingenious multi-tasker has the skills to cover all the bases themselves.

Here’s a list of who should be on your home-selling team.

 

Estate agent – a good agent will be an expert on the local area and get the asking price just right. They should be a pro at viewings and negotiations and have a savvy social media strategy to generate interest in your property.

 

Photographer – All top agents use a professional photographer for marketing photos. Most viewers start their property search online and expect to see high-quality images (not shadowy snaps that make a property look like a crime scene).

 

Conveyancer/Solicitor – Once the sale is agreed, you’ll need a good solicitor or conveyancer to handle the paperwork. Shop around or ask for word-of-mouth recommendations to find the right professional, as a good conveyancer/solicitor can speed up the process.

 

Removal firm – On the day you complete, you’ll want the logistics to run smoothly – and for your treasured possessions to be handled with care.

 

Proactive seller – Sellers are vital members of the team, too! A proactive seller rids their home of clutter, so that it shines in the marketing photos, and keeps the property tidy for viewings.

 

And a few special mentions

If you’re selling up to move to a new property, your team will also include a mortgage adviser to land you the best deal and a surveyor to inspect any property you’re considering buying.

 

Here at Chamberlains, we believe that selling a home is a team sport. Get in touch to find out more about our friendly, expert team.

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Quick Tips for First-Time Buyers in South Devon

Quick Tips for First-Time Buyers in South Devon

Taking that first step on the property ladder is simultaneously exciting and terrifying. No matter how old you are, buying your first property will make you feel like a proper grown-up.

Before you even find the right property, there’s lots to learn, so in this quick read, we’ve pulled together our top five tips for first-time buyers.

Be mortgage savvy

There are so many different options when buying a first home – whether you’re getting a loan from the bank of mum and dad, wading through Help to Buy admin, or going it alone. In every case, a mortgage is the first step you need to take.

For a rough estimate of how much you’ll need to borrow, there are plenty of online tools that can help. You could also speak directly to your bank or high-street lender about their mortgage deals. If you need some extra help, speak to us about a financial adviser or mortgage broker. We work with plenty of first-time buyers and have all the info you need.

Be real

When you first start looking, it’s important to be realistic about your budget. By looking at properties way outside your price range, you could find it harder to see the potential in those that suit your current financial situation. Get yourself a vision board and focus on the things you really need from a new home.

Be in the know

Newsflash: not all properties are on Rightmove or Zoopla. While these sites give you a good idea of what’s available and for how much, by registering with agents such as ourselves, we keep you in mind (and updated) before something even goes online.

There’s nearly always competition for a property, so it’s best to speak to experienced agents and register what you’re looking for instead of just relying on the internet.

Be open

You might have a very specific list of requirements, such as area, parking, outside space, and so on. However, it’s important to be flexible when you view a property. It might not tick every item on your list, but it may also have tonnes of potential. Always view a property before you rule it out.

Be calm

Once you’ve found a property, stay calm. If you’ve got your mortgage sorted, you’ve got a conveyancer, and you’re regularly in touch with your agent, there’s no need to worry. We understand there’s a lot to get done before you exchange; our job is to help you take any stress away.

We have served many first-time buyers at Chamberlains over the years, and we’re ready to help you get your feet on the property ladder. Contact us on 01626 365055 today.

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Top Tips for Managing Joint Tenancies

Joint Tenancies

When they run smoothly, joint tenancies can be a good source of income for landlords. This three-minute read explains how to get the best out of them.

Joint tenancies are a great way for friends or couples to live together and share the rental burden. (Think about best buddies and flatmates Joey and Chandler in Friends, they had a ball, right?)

And joint tenancies can also be good news for landlords, providing steady long-term income and low tenant turnover. (If your tenants are happy and get along like Joey and Chandler, they’ll stay for years.)

But sometimes, the relationship between tenants turns sour and things can get complicated. Before we look at managing tenant relationships, here’s a quick recap on joint tenancies.

  • As a general rule*, all tenants in a joint tenancy are liable for the rent. This means that if one tenant falls into arrears, the landlord can ask any or all the other tenants to cover the shortfall.
  • The same goes for damage to the property – all tenants are liable. Even if only one tenant (or their guest) caused the damage, any or all tenants could be required to pay for the repairs.
  • One person can’t pull the plug on a joint tenancy; the landlord and all tenants must agree to end the tenancy.
  • If end-of-tenancy deductions are agreed upon, they’re taken from the overall deposit.

 

Getting the best out of a joint tenancy

  • Never rely on one tenant to share important information with other tenants for you (they may fail to do so or may get it wrong).
  • If there’s an issue with arrears, notify all the tenants and explain that they’re all liable. Tenants who have paid their share of the rent can be valuable allies and help persuade the tenant who is behind to get back on track.
  • Remain professional and don’t get caught up in a melodrama between friends or lovers who have fallen out (they may want you to take sides). Remind all parties of their joint liability and encourage them to sort it out amongst themselves.
  • Always notify people who sign up to be the sole guarantor on a joint tenancy that they’re liable for all rent and damages. Often a parent thinks they’re just covering their own child – not all the tenants.

To find out how Chamberlains can help manage your property and avoid tenancy troubles, get in touch.

 

*Always check the terms of your rental agreement and, if in doubt, seek expert advice.

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How You Can Stop Feeling Stressed in South Devon

Stress Management

Whichever way you look at it, modern life is stressful. And the 2020s? Well so far, this new decade has caused unparalleled levels of stress.

Whether it’s the pressure of daily life, the juggling of responsibilities, or the state of the world right now, stress can have physical, mental, and emotional repercussions for people of all ages. And it needs to be taken seriously.

April is Stress Awareness Month, an initiative that has been running since 1992, designed to highlight the causes and cures for stress. This year, the Stress Management Society is focusing on community, reducing isolation and loneliness, and increasing social support.

In this quick read, we look at some of the ways you can help to support others feeling stressed or anxious.

Get talking

Sometimes, feeling stressed can be embarrassing. People can feel judged or self-conscious when struggling to cope. Help reduce the stigma around stress by talking about such feelings. Whether at home or in the workplace, those suffering with stress may feel like their issues are valid and gives them space to open up.

Be kind

It sounds simple, and it is. By showing understanding and empathy for someone who is stressed, you can help to ease the burden. Whether it’s making a workmate a cup of coffee or offering to help with a pesky spreadsheet, you can really make a difference to someone’s day.

Share coping strategies

Letting someone feeling stressed know that you’ve felt the same way may help to reduce feelings of loneliness. Maybe your way of coping is by doing some simple breathing exercises or writing ‘to-do’ lists, everyone has their own ways of managing times of stress and sharing them could really help others.

Look after yourself

If you’re feeling anxious or stressed, take the time to acknowledge and understand your feelings. Don’t berate yourself or feel like you should be able to cope. Stress affects everyone in different ways and if you need to take some time to de-stress, that’s perfectly ok.

Talk to your kids

Whether you’ve got a stressed-out teenager about to sit exams, or your little one is worried about their friendships, it’s important to open the dialogue about these feelings and try to suggest ways they can feel better.

Children are like sponges, and things like the pandemic, or the current global situation can really impact them. Looking after your little one’s mental health is just as important as putting a plaster on a cut finger or kissing a bruised knee.

Thanks for reading.