Category Archives: Property News

News, Property News

The Edenstone Group Partners With Octopus Energy to Offer “Zero Bills” Homes

THE Edenstone Group has partnered with the UK’s largest electricity supplier, Octopus Energy, to deliver homes that will enable people to live energy-bill free for at least five years, guaranteed, as part of its drive to deliver sustainable solutions for modern living.

The initial agreement covers 12 homes across three locations, with potential further roll out across future developments.

‘Zero Bills’ is a world-first smart tariff that allows customers to move into homes that are fully kitted out with green technology and with no energy bills, guaranteed. It’s made possible thanks to a combination of clean energy devices – including solar, heat pumps, and home batteries – which Octopus manages via its Kraken technology platform to deliver a zero bill.

To help showcase the technology involved, a demonstration home has been created at St Mary’s Garden Village in Ross-on-Wye.

Edenstone Group chief executive Martin Taylor said: “We’re committed to raising sustainability standards by embracing the challenge of constructing net-zero homes.

“Our partnership with Octopus Energy – the first, we hope, of many – allows us to provide homes with an extraordinary proposition: at least five years of zero bills, guaranteed. We believe it’ll be a game changer for our customers and will redefine the way homes are designed, built, and experienced, setting a new benchmark for energy-efficient living.

“Our Ross-on-Wye ‘Zero Bills’ home showcases the tangible steps we’re taking towards achieving a net-zero energy future.”

The demonstration home was sold soon after its release onto the market.

A further seven ‘Zero Bills’ homes will feature at Edenstone’s forthcoming Eden’s Green development in Bleadon, North Somerset, with four more affordable homes for tenants being built for United Welsh Housing in Cardiff as part of the company’s ambitions to bring zero net energy to all its developments by 2025 and tackle the housing shortage.

Michael Cottrell, Zero Bills director at Octopus Energy, said: “We’re delighted to be partnering with Edenstone to set the new standard for UK homeownership. With ‘Zero Bills’, buyers of these properties can enjoy not only energy bill free homes, but a genuine shift towards greener living. And with Edenstone, we’re only just getting started.”

Octopus aims to deliver 50,000 ‘Zero Bills’ homes globally by 2025.

Edenstone has previously built a series of pilot net zero homes across developments in Brockworth, Gloucestershire, and across Wales in Aberthin, Morriston and Newport using various technologies and systems.

The company recently opened a net-zero community hub at St Mary’s Garden Village, designed to generate more renewable energy than it consumes, helping to decarbonise the Ross on Wye community.

The new ‘Zero Bills’ demonstration home at St Mary’s Garden Village is a three-bedroom detached Broughton. It features photovoltaic (PV) panels with internal battery storage, air source heat pumps with smart hot water cylinders     .

A fair usage allowance is set at double the expected electricity usage, excluding electric vehicle charging which is subject to a separate tariff.

“Technology has moved on considerably since we built our first zero carbon home. Back then our efforts were focused on the raw generation of energy through roof-mounted photovoltaic (PV) solar panels and a home battery system to store the electricity generated, plus an air source heat pump to provide heating and hot water, with little smart technology,” Martin added.

“Trialling different approaches, we’ve been able to assess the practicalities from a construction perspective and consumer experience. Now we’re able to use smart technology to help reduce energy demands. The system learns habits and can provide gains that design alone can’t deliver.”

For more information see https://edenstonehomes.com/st-marys-garden-village or https://www.bluebellhomes.co.uk/stmarys.

For more information on ‘Zero Bills’, please visit: https://octopus.energy/zero-bills-home.

News, Property, Property News, Retirement

Report shows surge in demand for age-appropriate housing and opportunity for developers says My Future Living

A new report highlights that demand for age-appropriate housing for older people is rising despite a slowdown in the housing market, and that affordability is a key driver, something that My Future Living, the UK’s leading retirement rentals brand says echoes their experience as retirees want to live somewhere that suits their needs in later life.

The ‘UK Real Estate Market Outlook Intelligent Investment 2024’ from CBRE[i] which has a chapter on Senior Living also found that the take up of rentals has grown substantially over the last five years, and that is the increasing number of over 75s is driving the demand for retirement housing.

 

Dominic Stead, Property Director at My Future Living said: “Where people live when they get older is high on the housing agenda as there isn’t currently enough supply. The report points to the opportunities for developers and investors to tap into this sector as the UK senior living market is still in its infancy and the penetration rate is a fraction of what is seen in other mature markets.

“We are seeing increasing demand for affordable, rental homes within retirement developments throughout the UK as people want to move somewhere that suits their lifestyle and changing needs in retirement. Renting is a good financial option for some as it can enable people to free up capital if they own a home, and to downsize.

“Moving to a one or two-bedroom apartment that is easier to manage and removes the headache of ongoing property maintenance and unexpected bills, frees people up to enjoy their retirement years as part of a sociable community. Developments tend to be close to local amenities and transport links which are important as people age and may not want to drive any longer.

“There are also the safety factors that are important, such as living in a gated community, having a house manager on site and an emergency cord in each apartment, as well as neighbours close by. These elements give extra reassurance that people can get assistance if needed, whilst benefiting from still living independently.

“We hope this report will encourage more developers and investors into the senior living sector as it’s something that is very much needed. Having more affordable, age-appropriate housing for our ageing population could encourage more to downsize, freeing up homes for younger families and giving older people a better retirement experience and lifestyle.”

 

For more information about My Future Living, please visit www.myfutureliving.co.uk

[i] https://www.cbre.co.uk/insights/books/uk-real-estate-market-outlook-2024/senior-living

Housing, News, Property & Construction, Property News

Castle Green Hands Over Affordable Homes in Rhosrobin

THE first phase of new affordable homes in Rhosrobin have been delivered under a deal between Castle Green Partnerships and North Wales Housing Association.

It’s the third housing association Castle Green has partnered with in North Wales as part of its commitment to providing affordable housing.

At Llys y Coed on Main Road, Rhosrobin, 47 affordable homes are being provided under a development agreement signed in January, as part of the Section 106 contributions agreed during the planning process. 30 of the homes are now complete. The first of those homes have now been handed over to NWHA and tenants will be moving into all of the completed homes in the next few weeks.

Contracts were exchanged last month on a deal for a further 14 homes, known as additionality units, six of which are now complete.

 

Eoin O’Donnell, partnerships director at Castle Green Partnerships, said: “Handing over homes under our partnership with North Wales Housing Association marks a key milestone in what we hope will be lasting and mutually beneficial relationship. Llys y Coed was among the schemes held up because of issues relating to phosphates, environmental targets and waste water, which meant a lack of new homes being built in the Wrexham area in recent years. This in turn has contributed to a deficit of much-needed affordable housing. The fact that North Wales Housing Association have purchased additional homes is an indicator of the high demand in the area for affordable homes.”

Castle Green Partnerships, part of St Asaph based Castle Green Homes, specialises in building homes for housing associations.

Lauren Eaton-Jones, assistant director of development at North Wales Housing Association, said: “We are delighted to have partnered with Castle Green to provide 61 homes in Rhosrobin, Wrexham, as part of our drive to provide more affordable homes in all six local authorities across North Wales.

“We are determined to make a difference for communities across North Wales, providing safe, well- maintained and affordable homes for our residents. Growth and development are extremely important in our vision.

“These houses are of the highest quality and will be homes that our residents will be proud to live in.

“We hope this is just the start of our partnership with Castle Green as we look to work together and deliver homes where they are needed the most.”

The affordable homes in Rhosrobin are part of a wider 189 home development taking shape across a 39 acre site.

Work started on site in November 2023 and is expected to be complete by June 2025.

Half of the overall Llys y Coed development is preserved as open space, including the retention of ancient woodlands, for walks and bike trails.

Castle Green will fund improvements to Watts Dyke, a Scheduled Ancient Monument within the public open space, and provide a 400 square metre local equipped area of play, with seven pieces of play equipment.

To support the growth of the neighbourhood, Castle Green will make a £400,000 education contribution.

News, Property News, Property Rentals

What signs of mould should you look out for when you are viewing rental properties?

As the mould crisis in the UK continues, you may think that residents in social housing are the only people at risk from exposure. This is not the case, in London alone 51.06% of tenants report to have mould and 74.07% of homeowners have experienced mould in their homes*. So, how if it can happen to anyone, can renters reduce the risk of living in a home with mould?

How landlords try to avoid the issue

Jennifer Ross

Here is a real life example of a nightmare scenario for younger renters in the capital which highlights how a bad landlord will try to avoid dealing with a mould problem.

Jennifer Ross (27, pictured above) is an account manager for a London based healthcare communications agency. While she was living in a shared flat in Tooting London Jennifer and her flatmates paid £2420 per month rent. The flatmates moved into the flat in October 2021, but by Christmas as the weather turned colder they noticed mould starting to appear through the flat’s newly painted ceilings.

 

Alerting their  landlord to this issue straight away, initially he did not respond so they tried to solve the problem on their own. They mopped the ceilings with bleach. However their efforts always failed and the mould would aggressively grow back.

The landlord later agreed to repaint the bathroom. This did not improve the underlying issue in that the black mould was still there and the mould was extending into other rooms in the flat too.  The source of the damp and mould issue was identified in spring 2022 as the back bedroom started to leak in rain.

 

The roof got fixed and warmer weather momentarily solved the problem, but as the weather turned colder the mould reappeared. Sadly the landlord continued to ignore Jennifer’s  requests for help so after two years the flatmates decided to leave in October 2023.

New tenants live in the flat now and the mould has worsened, even worse news is the new tenants pay an extra £1000 a month and the landlord continues to avoid their requests for help.

What impact can Mould have on tenants?

NHS UK states: “People living with mould are more likely to suffer from respiratory illnesses, infections, allergies or asthma.”

A recent BBC Report concluded:

“Inhaling or touching the spores that mould releases into the air can cause an allergic reaction, such as sneezing, a runny nose, red eyes and a skin rash.

“Mould can also trigger asthma attacks and cause coughing, wheezing and breathlessness.”

Nobody should have to live with this level of toxic mould in their homes and landlords need to be ready to tackle the problem straight on.

Often damp problems aren’t found until it’s too late and tenants have signed the contract and moved in.  New proposals are expected to tighten up the rules regarding rental properties, but until then, it is often a case of ‘renters beware’.

What should prospective tenants look out for?

There are red flags that tenants can look out for when viewing properties to rent.  Look out for these signs when checking for damp in a rental property:

  • Discolouration on walls, peeling paint or wallpaper
  • Black mould on window seals- particularly in the bedroom and bathroom
  • Black mould on ceiling in the corners of rooms
  • Excess condensation – streaming windows, mirror
  • Musty or damp smell
  • Stains on walls
  • Smell of fresh paint (this can be evidence of someone painting over visible mould)

What can landlords do?

Awaab Ishak, a two year old Rochdale boy, died in 2020 after prolonged exposure to mould in his home.  Mould exposure can be fatal and has serious consequences, but there are sound business reasons apart from health of their tenants for landlords fix any problems fast.

As landlords shy away from their tenants’ issues, they are allowing much bigger structural damage to develop. Mould can be extremely aggressive and prevention is always better than cure, but should a property start to show signs of mould, landlords should treat the area immediately, review why the mould is happening and for the price of a bottle of HG mould remover spray there can be huge savings in the cost of tradesmen.  However, if the mould is prolific, seek professional advice asap.

Bottom line, one way or another, once mould develops, it will eventually need to be fixed to protect your property investment – why not do it promptly, keep good tenants and maintain the value of the property?

–

*Airfresh (London Mould Report)

 

 

Property News

Changes to New Housing Developments – What’s Happening?

In February 2024, the Secretary of State for Levelling Up, Housing and Communities, Michael Gove, released a statement on the upcoming changes and developments to new housing in the United Kingdom.

Mr Gove announced plans for more houses to be built in areas that needed it more, including inner cities. There were also a lot more developments regarding new-build housing in London – that can benefit from a new-build structural warranty – support for SME housebuilders, short-term lets, public sector land, and more.

To find out about all of the upcoming changes to new housing developments in the UK, continue reading below.

Changes to Permitted Development Rights

The first set of exciting changes to housing, announced by Mr Gove, relates to commercial property. New planning freedoms are being put in place to allow more commercial buildings to be converted into residential properties. This new change should result in thousands more homes being built by 2030.

There are also changes for homeowner’s building extensions. The proposal would make it easier to plan and build an extension as well as allow for larger loft conversions, flexible extensions, bike stores, the installation of heat pumps and electric vehicle charging ports. This should, hopefully, free homeowners from the difficult process of moving through planning permission.

Housing Changes in London

Mr Gove states that £50 million will be invested by the government to ‘unlock’ new homes in the capital. There is an aim to create 8000 new homes in East and South London with £125 million loan funding from the Home Building Fund Infrastructure Loans portfolio and Long-Term Fund. There are also discussions with the London Borough of Camden to explore new housing in Euston, which is backed by £4 million of funding.

Small and Medium-Sized Housebuilders

Mr Gove has stated that the government are determined to support SME housebuilders and, as such, has expanded the £ 1 billion ENABLE Build guarantee scheme in order to increase the amount of finance available to SMEs. This covers loans issued by non-bank lenders and seeded portfolios. SME land access is also a key target as the government has introduced SME-only sales of Homes England land. Pilots are starting in the south-east and the Midlands in late 2024 which should, hopefully, develop a pipeline of small sites.

So, if you’re an SME housebuilder, these changes that will be implemented at some point in 2024 can benefit you greatly. With more funding and increased SME-only sales of land, there’ll be greater opportunities to develop property.

Public Sector Land

The government are in discussions with the Department of Transport, the Ministry of Defence and the Department for Health and Social Care regarding public land to be used for housing. Thus far, the aforementioned departments have pledged to release government-owned land for at least 15,000 homes before the end of March 2025.

While this is welcome, 15,000 homes will only scratch the surface of what is required to solve the housing crisis in England. Fortunately, Mr Gove has also announced that a task force is being implemented to ensure accelerated delivery of houses and freed land over the long term.

Changes to Short-Term Lets

While all of the above is being actioned to help new homes, Mr Gove states that the government are concerned about their current crop of houses, especially short-term lets, such as properties used for Airbnb.

The UK government believe that short-term lets can offer benefits for visitors to the UK, or people travelling within the country, but they also can cause some concern. The government believe that short-term lets are having uncontrolled growth, especially in coastal and tourist areas which are not only affecting the affordability and availability of homes for local residents, but it also makes it difficult to monitor compliance with health and safety regulations. In some cases, short-term lets have been known to cause nuisance issues for local residents.

In a bid to improve the situation, Mr Gove has stated that he’s determined to introduce a short-term let register as well as planning measures to provide local areas with more control over future growth. Hopefully, there should then be the right balance between protecting local communities and allowing for short-term lets to thrive.

There are also changes for people who want to let out their main home for a short length of time. The UK government want to provide flexibility to homeowners so that they can do this without applying for planning permission, thus making the process easier.

Mr Gove stated that the plans will be implemented in the summer months of 2024. This includes the registration of short-term lets in which they’d prefer it to be a low-cost and simple scheme for property owners to join.

Guidance on Second Staircase

The final part of the new changes announced for housing in the UK is about safety. As important as it is to build more, the UK government claim they are determined to build safely too.

In October 2023, new guidance relating to second staircases in new residential buildings being above 18 metres was announced. Gove has stated that the Building Safety Regulator will publish new guidance on second staircases before April. This should make it clear that new multi-occupancy residential buildings have a top occupied storey above 18 metres.

It is believed that a second staircase should give new buildings resilience to support exit from a building as well as enhanced options for tackling a fire in the event of a serious incident. Hopefully, this change to safety standards will help improve safety measures for existing buildings, and provide confidence for the safety of newly-built homes.

Summary

This update from Mr Gove is a welcome one to many developers in the UK, especially SME housebuilders and those wanting to build an extension onto their existing homes. Further details will be outlined later in the year so keep an eye out if any of the above changes relate to your situation.

 

News, Property News

Office spaces and family homes up for grabs in new online auction service launched by North Staffordshire Estate Agents

A leading North Staffordshire estate agent has expanded further with a new online auction service which boasts commercial and residential properties.

In April 2023, Critchlow Estate Agents added lettings to their portfolio following an increase in demand, and in January they went live with the auctions – which are carried out via their own online portal.

Auctions will take place each month and during the first one, five of the six lots were sold and on 29 February, four out of the 6 were secured by new owners – including a 3.5 acre plot of land in Stoke-on-Trent.

Martin Critchlow, founder of the agency, said: “We had always had a plan to extend our services even further and by putting investment into modifying our own website we are now able to make more properties available via the new online bidding process.

“The flexibility of this has enabled us to provide a less pressurised environment than say a huge auction room, and allows buyers to take their time and consider options before pressing go.”

Since launching the service the Critchlow team have welcomed a variety of residential properties, commercial offices and land from owners, which are located in various locations.

Ten lots are already in line for the next online auction which will take place on 26 March.

Lee Dono, sales manager, adds: “There are so many great properties and land available for investment throughout Stoke-on-Trent and surrounding areas and the online auctions are really effective to help to show this.

“As well as family properties there are many commercial buildings plus large land sites.

“During each auction process we liaise with bidders and sellers alike to ensure that the experience is as smooth as possible for all involved and we are also there afterwards where required – just like we have been with our usual sales and lettings.”

The expansion of services is a further testament to the growth of Critchlow’s empire which started in 2020 by Martin.

Since then – as well as providing lettings to the sales arm of the business – the agency has welcomed three staff members, plus in 2022, were recognised by the British Property Awards as a top Stoke-on-Trent agent after scooping gold for outstanding customer service.

The next online auction will take place on Tuesday 26 March.

For more information visit critchlowestateagents.co.uk

Commercial Property, Commercial Property News, Construction News, Property News

Dynamic plans unveiled for Penistone’s historic coal drops heritage site

A prominent family-run, Barnsley-based property and land company, has unveiled the highly anticipated next phase of development for Penistone’s coal drops, signal house, and former railway siding site.

With this next stage of the site’s transformative journey, Fairbank Investments is marking a significant moment in Penistone’s history, with the development promising an inspiring blend of heritage preservation and modern rejuvenation.

The company has revealed updated designs that present a blend of tradition and innovation. Available for viewing on Fairbank Investments official website, the renderings offer a compelling glimpse into the future, showcasing a meticulously crafted vision for the site’s revitalisation while honouring its rich historical legacy.

The new designs demonstrate how Fairbank Investments envisages how the coal drops and the land will look once fully transformed. The plans are subject to final approval.

Throughout the design process, Fairbank Investments has remained steadfast in its commitment to collaboration and community engagement. While continuing to work closely with local authorities and the community, the project team ensures that every aspect of the development aligns seamlessly with the needs and aspirations of the Penistone community.

Steeped in history, the coal drops site stands as a poignant reminder of Penistone’s industrial past. In recognition of its cultural significance, Fairbank Investments has embraced the opportunity to breathe new life into these iconic structures, preserving their heritage while welcoming a new era of prosperity.

Fairbank Investments has a proven track record of successful, sustainable development projects such as the former David Brown factory on Green Road in Penistone. The company revitalised the site after transforming it into a new business park with 15,000 sq ft of offices and a further 66,000 sq ft of warehouse space, creating new jobs and attracting multiple businesses to the area, prioritising eco-friendly design and building practices. The same meticulous design and sustainability ethos is also being applied to the coal drops development.

Addressing concerns regarding current access issues with grace and responsibility, Fairbank Investments remains fully committed to public safety. While construction and planning is underway, access to certain areas will be removed. However, alternate routes closeby will ensure that businesses along St Mary’s Street remain accessible to all.

Fairbank Investments will continue to work with the community and local authorities to ensure a secondary access upon completion of the works, reaffirming their commitment to responsible development practices.

Antony Green, Managing Director of Fairbank Investments, commented: “Our vision extends beyond bricks and mortar; it’s about creating a lasting legacy that enriches the fabric of Penistone’s identity. We’re honoured to play a role in shaping the future of this historic site.

“Working in tandem with local authorities and community groups, we pride ourselves on delivering positive, proactive development results and have demonstrated this repeatedly over many years of business success. We turned the redundant site at the old David Brown site in Penistone into the thriving Fairfield Business Park, generating employment and helping multiple start-up companies and we intend to do the same at the coal drops site. Our current development represents a bright new beginning for a site that without our investment and vision would have likely remained a permanent wasteland.”

Fairbank Investments updated site plan designs are available to view on the company’s website: https://www.fairbankinvestments.com/s-projects-side-by-side

 

News, Property Buyer News, Property News

Luxury Property Dubai: Peculiarities

Without a doubt, Dubai implies an ultra-modern city, which is mainly famous for its endless sandy beaches, beautiful hotels, luxury cars and, of course, tall skyscrapers. All these features attract travellers from all over the world. It comes as no secret that such projects are carried out by top developers companies in Dubai.

At the same time, many buyers of real estate do not even imagine that they are the owners of housing designed by the same companies that once built the luxurious Atlantis The Palm hotel, the majestic Burj Khalifa skyscraper or the grandiose structure of the Dubai Opera.

Why Do You Need a Realtor?

The fact is that the UAE real estate market is transparent, information about objects is posted online, and plenty of transactions are concluded remotely. However, if you refuse the services of a broker, you will not only not benefit in price, but, most likely, you will lose access to the best offers. In addition, if difficulties arise, you will have to deal with them yourself.

It is important that developers pay realtors a percentage of each transaction concluded on the primary market. Top brokers are in a special position with developers, as they provide them with regular transactions. So, agents are invited to closed sales at the start of projects, where the best prices and an excellent assortment are available. In this situation, having refused the services of a realtor, you will be forced to act alone and choose from what remains unclaimed by clients of top brokers, if anything at all.

What Services Does the Real Estate Company Provide?

For a start, luxury property Dubai specialists help resolve issues related to the sale, purchase or rental of real estate. The company works both with secondary real estate and with objects directly from the developer (ready-made and at the stage of building a house). Experienced realtors can offer options to suit any budget, from budget single apartments and studios to luxury penthouses and luxury villas. The services of a real estate company include complete closure of the transaction, from A to Z. Thus, by contacting a professional, clients receive a wide range of services, including:

  • selection of real estate;
  • after-sales service;
  • reviews and site visits;
  • complete execution of all documentation;
  • drawing up and signing of contracts as well as monitoring the stages of their implementation.

Simply put, specialists from real estate companies in Dubai always take into account all wishes and can offer different areas and categories, and will suggest the most profitable options. Specialists also help with procedures and contracts for apartment utility services. It is noteworthy that for clients who invest in real estate for subsequent rental, realtors search for reliable tenants.

Experienced realtors always personally accompany clients and discuss all the nuances with them right on the spot. Moreover, if the buyer is not local and flies to Dubai, by agreement I will meet him at the airport.

How to Choose a Responsible Real Estate Agent in Dubai?

Lots of real estate buyers in the UAE face the problem of choosing a realtor in the majestic city of Dubai. The tips below will help you avoid making a mistake when choosing a realtor:

  1. Have a personal conversation with an employee of the company who plans to sell apartments and villas. You can find your potential neighbours on the developer’s social networks, as well as in some specialised communities. Here you can read real customer reviews.
  2. Carefully study the realtor’s official website and accounts on popular social networks. This will help you get acquainted with basic information about the company, as well as find out if the realtor has awards and achievements.
  3. Hire a qualified realtor. A real estate professional can tell you what features to focus on. In addition, an experienced expert will give you key tips to follow when choosing a property developer in Dubai.

Nevertheless, there is absolutely no need to rush to sign an agreement with a realtor; first evaluate him/her as a specialist.

Law Degree

It matters iIf we are talking about an individual and not a company. To cut a long story short, it is important that the realtor has the appropriate education, because he/she will draw up and read contracts, collect and check documents. Law degree is a must for the security of the transaction.

Good Recommendations and Reputation

It comes as no surprise that it is better to contact the person recommended to you by friends or acquaintances. At the same time, a couple of successful “cases” is not yet an indicator. Try to make inquiries about the realtor: read reviews on the Internet, be sure to take a closer look at his/her workplace: where his/her office is located, what condition it is in.

Awareness of all the Features of the Real Estate Market

It is important that a specialist understands the real estate market in his/her region and knows all kinds of pitfalls. Such a realtor will immediately tell you what the real market value of the apartment is, in which areas it is promising to buy real estate, where it will be comfortable for older people to live, and where for families with small children. A really good expert will tell you whether it is worth making cosmetic repairs to your apartment for sale and what its strengths are.

Positive Attitude and Guarantees

A realtor must always be in a good mood and believe in success as well as give guarantees that he/she will select a buyer for your apartment or find you a suitable option for purchase. In this case, the pro will name the approximate time frame within which he/she will complete the task.

Choosing a reliable realtor in the United Arab Emirates is not so easy. When dealing with real estate in Dubai, you should trust a large company, because reputation is important to them. Large companies have the most extensive databases of real estate properties. Such an organisation is NR Luxury Properties. In addition, the agency employs a whole staff of professional employees: lawyers, translators and all that jazz.

Specialist Help

In the Dubai real estate market, it is now practically impossible to do without a realtor. It doesn’t matter whether you are selling or buying a home, renting out or wanting to rent. All in all, it is better for a foreigner to turn to a professional.

Luxury Properties company’s employees will always be happy to assist you in choosing real estate in the city of tall skyscrapers and deciding on the right area for you. In addition, real estate experts will provide you with legal assistance both in preparing documentation and at other stages of concluding a contract.

 

 

News, Property News, Property Rentals

Tips And Tricks For New Landlords Prepping Properties For The Market

When preparing your property for the rental market, navigating the intricacies requires a strategic approach. As a new landlord, the journey involves more than just making the space presentable; it’s about understanding the nuances that appeal to potential tenants and protect your investment.

To help, we have compiled a few practical tips and tricks to help ensure your property stands out in the competitive rental landscape without succumbing to common clichés.

 

Know Your Target Tenant Base

Understanding your target tenant base is the cornerstone of successful property management. Begin by researching the demographics and preferences of potential tenants in your area. Consider local amenities, schools, and public transportation to align your property with their needs. For instance, if your property is in an area popular among young professionals, focus on incorporating modern conveniences and proximity to workplaces. By tailoring your property to your target demographic, you increase its appeal and the likelihood of securing long-term tenants.

 

Kerb Appeal Matters

Kerb appeal is more than just a cosmetic aspect; it significantly influences your property’s first impression. To enhance curb appeal, start by maintaining a tidy exterior. Trim overgrown vegetation, add a fresh coat of paint to the front door, and invest in outdoor lighting. These relatively simple and cost-effective measures can transform the perception of your property, making it more attractive to potential tenants. A well-presented exterior sets a positive tone, prompting prospective tenants to envision the care and attention given to the entire property.

 

Interior Upgrades For Maximum Appeal

Cost-effective interior upgrades can substantially increase the overall appeal of your property. Prioritise improvements in key areas, such as the kitchen and bathroom, as these spaces significantly impact tenant perception. Consider neutral colour schemes and modern fixtures to create a clean and inviting atmosphere. Remember, the goal is to showcase the property’s potential while allowing tenants to envision their lifestyle. Small yet impactful upgrades can make a substantial difference in attracting and retaining quality tenants.

 

Practical Tips For Effective Staging

Effective staging goes beyond furniture placement; it’s about creating a narrative that resonates with potential tenants. Depersonalise the space by removing personal items, family photos, and unique decor. Opt for neutral and universally appealing furnishings to create a blank canvas that appeals to a broader audience. Arrange furniture to highlight the versatility of each room, allowing tenants to visualise their furniture and lifestyle in the space. Effective staging enhances the visual appeal and helps potential tenants connect emotionally with the property.

 

Invest In High-Quality Photography

Property hunting often begins online in the digital age, making high-quality photography a crucial element of your marketing strategy. Consider hiring a professional photographer to capture the best features of your property. Bright, well-composed images attract more views on online platforms and increase the chances of potential tenants scheduling viewings. Investing in professional photography is a relatively small expense compared to the potential return in terms of increased interest and faster property lettings.

 

Screening Potential Tenants

Developing a robust tenant screening process is a proactive measure to ensure the longevity and profitability of your rental property. Conduct comprehensive background checks and employment verifications and contact previous landlords for references. Establishing stringent criteria for potential tenants helps filter out those who may pose a risk to your property or financial stability. A thorough screening process minimises the likelihood of future complications and ensures that your property is entrusted to reliable and responsible tenants.

 

HMO Landlord Insurance Essentials

HMO (Houses in Multiple Occupation) landlord insurance is a specialised coverage designed to protect landlords from unique risks associated with shared living spaces. Essential for those renting to multiple tenants, HMO landlord insurance provides financial security against unforeseen events such as property damage, liability claims, or loss of rental income. Research reputable insurance providers with experience in HMO properties to secure the right coverage. Understand the specific coverage, including property damage, liability, and legal expenses. Tailor your insurance policy to the unique needs of HMO ownership for comprehensive protection.

 

Budgeting For Property Preparation

Budgeting for property preparation requires a strategic and realistic approach. Start by identifying essential upgrades that yield the highest return on investment. Prioritise maintenance tasks and improvements that enhance the overall appeal of the property. Consider short-term and long-term budgeting, ensuring your property remains competitive and sustainable in the rental market. Balancing cost-effectiveness with quality is key; investing wisely in property preparation contributes to the property’s desirability and profitability.

 

Building A Network Of Reliable Contractors

Maintaining a rental property involves a network of reliable contractors promptly addressing maintenance and repair needs. Begin by identifying trustworthy professionals for essential tasks such as plumbing, electrical work, and general maintenance. Establish clear communication channels and build long-term relationships to ensure a swift response when issues arise. A reliable network of contractors contributes to the property’s overall condition and enhances tenant satisfaction. Timely and efficient maintenance fosters positive tenant experiences, increasing the likelihood of tenant retention.

Successful property preparation for the rental market involves a multifaceted approach. Taking a proactive and strategic approach positions you as a discerning landlord in a competitive market, setting the stage for long-term success.

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Don’t panic! – Expert warns new data on house price fall isn’t all it seems

Property owners should try not to panic – despite new figures showing the average home is now worth £3,000 less than a year ago.

Data shows prices are down 1.2 percent in the past year, which is the biggest annual drop since the Autumn of 2011.

But Jonathan Rolande, from the National Association of Property Buyers, urged people not to panic.

And he said 2024 could still be a year where house prices start to creep back up.

Mr Rolande said: “No home owner enjoys seeing figures showing house prices have fallen.

“However, for the vast majority of homeowners this needs perspective. There was enormous inflation in prices during the post lockdown era, with some areas rising by 20% in just a year. “The relatively small retraction of £3,000, whilst disappointing, still leaves house prices far higher than they were two years ago. With the prospect of government intervention to stimulates the market once again 2024 could be the year that the average homeowner recovers that £3000 drop in value.

Mr Rolande also said he’d welcome measures in the Spring Budget to support all property owners – not just first time buyers.

“We need forward thinking ideas across the market. Yes, first time buyers need support. But we also need measures that encourage pensioners to downsize, which stimulate housebuilding and do something to address the growing crisis in this country which exists around soaring rents.”