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I cannot believe that we are already into December. It feels like it was only 5 minutes ago that we were listening to Boris Johnson announce the 2nd lockdown at the end of October. These lockdowns are a difficult time for everyone, some more so than others, and I do hope that everyone has come through it ok.
The housing market though has not been having a difficult time, quite the opposite. There are several possible reasons for this that include pent up demand from lockdown and the stamp duty holiday. In fact, this demand has caused some agents in Lancaster, us included, to have 0 properties available to let at times… Zero, nothing, nada. Basically, if you were thinking of getting a buy-to-let, there is no time like the present.
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When viewing a rental property there are certain things to look out for and questions worth asking the agent.
The following points will put you in a better position to choose a rental that will suit you best.
- Where are the bins? Does the property have its own wheelie bin/recycling boxes or bags? Is this communal? Do you need to order council approved bags?
- Does the property have parking? Is this secure, is there the need for a permit, is it on street only?
- Utilities – Does the property have gas and electric? Is there a combi boiler or is there an immersion tank? Central heating or electric heaters?
- White goods. What is included at the property? Are there integrated appliances? The plumbing for a washing machine?
- How much deposit will you need to put down? Will help you know if the property is affordable and if you have the funds upfront.
- Are pets allowed? Always worth asking early or getting a feel for whether you could get a pet later on even if you don’t already have one
Want to know more? Give me a call on 01524 555800.
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House on the market and it has not sold? Want to sell your home but feel like there is a negative COVID-19 effect on the housing market? Well, read on…
You may have read in the news that the housing market is not great, or that prices are going down, but the reality is far from that.
Let us look at the numbers for the Lancaster & Morecambe area.
In June 2019 there were 327 new properties that came up for sale. In June 2020 there were on 270. That is 21% less than the same month last year. That does not sound great, does it?
Wait a minute though, what about house sales?
In June 2019 there were 201 properties sold. In June 2020 that number was 220, an increase of 9.5%.
This is also the same for the areas we operate in Preston. 308 new properties came to the market in June 2019 and only 236 new properties in June 2020. so 30% less year on year. Sold properties were 178 in June 2019 and 202 in June 2020, an uplift of nearly 13%. What does this mean though?
It means that there are more people out there looking to buy a house than there are looking to sell. Demand is high for property, so why hasn’t yours sold?
That is what we are here to help with. We would really like to speak with you on how to make the most of this demand, so you do not miss out. We will be able to talk you through your current agents marketing and what & how we would do things differently.
Lancastrian Estates – Helping you move
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It sounds simple but it's amazing how many times Estate Agents come across this. A simple tip from Howard this well.
'Put the bins out of sight. Rubbish and recycling bins are unsightly and can make the outside of a property look cluttered or messy.
If you have somewhere to hide them (such as an alleyway or garage), so it, especially for photographs.
Bins in the kitchen, empty them and give them a clean and spray of air freshener to get rid of those off putting aromas!'
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Most renters want the referencing completed ASAP, so they have the reassurance of knowing that they are moving to their new home. The timescales can vary massively on referencing and it comes down to mainly one thing… Are you prepared for them?
When you apply for a property to rent, you will be required to provide the following information.
· Credit Check – This will be carried out automatically once you sign up. If you have anything detrimental on your credit file, then you need to make the agent or landlord aware of this BEFORE you apply.
· Identification Check – Two forms of identification will need to be submitted. One to confirm your Identity (i.e. Passport) and the other to confirm your residency (i.e. Council Tax Bill or Bank Statement). When thinking of applying for a rental property, make sure you know where these are and have them to hand.
· Income Check – Is the monthly rent affordable? You will have to prove that it is.
o If it is pensions or savings, you will need to produce documents to confirm the income or savings balance.
o Benefits? No problem, we will need your latest award letter.
· Residential Check – Own a home or live with your parents? This one is easy… your ID will sort it. In rented accommodation already however, then your agent or landlord will need to provide a reference. Contact names and email addresses are required. Speak to your agent or landlord in advance so that they can action the reference request immediately.
Being unprepared can mean that referencing can take days, if not weeks, to complete. This can be reduced to hours if you are fully prepared.