Day: 26 April 2023

Don’t let your beloved family pet stop you from achieving top selling price for your property. Follow these tips to ensure buyers don’t get sniffy about making an offer on your home.

Given that 62% of British households have a pet*, you might assume buyers wouldn’t bat an eyelid at the prospect of viewing a property where a furry or feathered friend resides.

But many property hunters are put off when they visit a home where there are obvious signs and smells of pets.

The reasons for this aversion to animals can vary; a buyer may have an allergy, have had a bad experience in the past, or love their own animals, just not other people’s.

Whatever the rationale, as first impressions are so important when selling a property, it’s best to get rid of, or at least minimise, the signs of pet life in your home. Here’s how:

Prepare your property for sale

• Give your home a deep clean to remove dirt, paw prints and animal hair; this will hopefully reduce pet odours, too. While your home is on the market, be super vigilant regarding cleanliness.
• Repair any damage caused by your pets, such as chewed or scratched woodwork, mucky skirting boards or holes dug in the back garden.
• Ensure all pet toys, bedding, litter trays, crates and food bowls are out of sight when the marketing photographs are taken.
• If there are pet items that you can’t hide from view, at least ensure they’re neatly organised.
• Devise a plan for managing viewings because, ideally, you don’t want your pets at home when buyers turn up. Arrange for your pets to stay with a friend or pet sitter or lodge at a kennel or cattery while open days and viewings occur.

On the day of a viewing

• Transport your pet to wherever they’ll be staying for the day.
• Minimise signs of pet life from display.
• Light a few scented candles to mask any pet odours.
• Check the back garden to make sure there are no droppings.

For more advice about presenting your home for sale, contact us here at Chamberlains

*Statista, 2022.

 

 

 

 

You can’t open a newspaper (or app) without seeing something about the UK rental market. Whether it’s the increase in demand for property, changes to rent rules or landlords selling up – rentals are getting a lot of attention.

And one matter that is causing a lot of controversy is the issue of rising rent. In a cost-of-living crisis, the increase in monthly rent is understandably worrisome for tenants, but are landlords really to blame?

Owning investment property is a business, and for many full-time landlords, it’s their sole source of income. The same applies to one-off or accidental landlords, and with the economy in flux, price changes are inevitable.

In this two-minute read, we explore three reasons rents are going up and why landlords aren’t just profiting off a volatile rental market.

• Mortgage rates

As interest rates go up, the mortgage market goes the same way. And just as residential mortgages get more expensive, so do buy-to-let mortgages. Landlords are facing the same issues as residential owners – their monthly payments have increased.

While many people think that owning a rental is an easy way to rake in cash, it’s a business model that only creates profit if the rental income covers the mortgage payment and there’s money left over. If mortgage payments are going up, then rising rents may reflect a landlord’s increase in costs.

• Changes to tax rules

Without getting into the nitty gritty of UK tax law, over the last few years, there have been lots of changes introduced which impact landlords. This includes the amount they can claim in expenses and how much tax they pay. These changes have not only caused many landlords to sell their rental properties but may have also forced rent increases to meet financial obligations.

• Increased costs of repairs and maintenance

Landlords often pay for the upkeep of their properties through their rental income, and the following issues could be affecting the rent they charge:

• A general increase in the cost of labour and materials, fixtures and furnishings.
• With purpose-built flats, owners often have to pay service charges or ground rents to the freeholder, many of which have increased due to the rising energy costs. Communal heating, lighting and refuse collection will currently be more expensive.
• In the next few years, all rental properties must meet an increased level of energy efficiency, so many landlords will have to undertake major works, which again, could impact rent.

If you’re a landlord looking to rent out a property or a tenant looking for a new home, contact Chamberlains. Our lettings team is ready to help.