Work has started on an affordable housing development which will see every home powered by renewable energy. The 79 homes, which are being built on an empty site off Harrison Drive in Colne, will take advantage of the latest in green technologies for their power and heating. The development,
A £17.7m contract to deliver 113 new homes for Yorkshire Housing has been awarded to contractor Tolent. The development in Menston includes a mix of two, three and four bedroom homes and will be available for a mix of tenures including shared ownership, right to buy and affordable rent. The
Research from Build to Rent specialists, Ascend Properties, has revealed how the sector is poised to gain further momentum due to the number of units currently under construction. Previous research by Ascend found that where pandemic completions across the BTR sector were concerned, London had seen a 28% uplift, while
Connected Places Catapult has brought together Yorkshire Housing and Vantage UAV as part of the Government Drone Pathfinder Catalyst Programme. The programme is sponsored by the Department for Transport (DfT), and supported by the Department for Business, Energy & Industrial Strategy (BEIS), and the Civil Aviation Authority (CAA). Together we aim to accelerate the safe adoption
Work is underway on a landmark housing project that will provide much needed homes for affordable rent and shared ownership in the heart of a popular Shropshire market town. Planning permission for nine new homes on the site of the former Beehive pub in Shifnal was granted in March and
Danielle Cox, Assistant Property Manager at our Remus Reading office has been awarded a ‘Special Commendation’ by Thames Valley Police for an act of extreme courage in assisting with the rescue of a neighbour during a violent assault. The swift actions of Danielle and her partner were deemed by police
250 households are now in mid-market rent accommodation, thanks to Council’s mid-market rent partnership, Edinburgh Living The new Edinburgh Living website will provide more information about the partnership and signpost those looking for a mid-market rent home to what is currently available and under construction. Launched in January 2019, the
Hart District Council took delivery of 41 new homes at an official event held on Thursday 13 May between representatives of the Council and Berkeley Homes. The collection of new apartments will be let by Bridges, on behalf of the Council, at affordable rents to people from the local area.
Keepmoat Homes continues to grow its development portfolio in the North West after acquiring three new land deals that will see the top ten UK housebuilder deliver 723 new homes, with a combined Gross Development Value (GDV) of £135m. The sites are located in Leyland, Accrington and Stoke on Trent
Over the last 15 years, the stock of private rented residential property has grown faster than owner occupied homes, as the rental market has gone from strength to strength. A fifth of the UK population now lives in private rental accommodation – that’s 4.7 million households and twice the proportion
Work has started on an affordable housing development which will see every home powered by renewable energy. The 79 homes, which are being built on an empty site off Harrison Drive in Colne, will take advantage of the latest in green technologies for their power and heating. The development, which will comprise 43 two-bedroom homes, 28 three-bedroom homes and eight four-bedroom homes, is the first project of a new partnership called PEARL Together Ltd. which sees Pendle Council, Barnfield Construction, who are also the main contractor on the site, and Together Housing Group joining forces to offer more housing for affordable rent in Pendle. Each home will be fully electric. Solar tiles and a battery store will allow electricity from solar power to be used throughout the day. The homes will be heated by ground source heat pumps. These pumps use pipes to extract natural heat from underground. This system will provide the homes with hot water and heating. Combined, these measures will help lower the homes’ carbon footprint as well as residents’ energy bills. The development will be known as Jim Smart Way after a Together Housing resident who was a passionate supporter of his local community in Colne. Jim passed away in 2018 and naming this development after him is a fitting tribute to his legacy. Kevin Ruth, Deputy Chief Executive of Together Housing Group, said; “It’s great to see this development underway with our partners Pendle Council and Barnfield Construction. As in many of our operating areas, rising house prices are making it difficult for local people to find suitable accommodation in their home area. These homes for affordable rent will give local people looking to stay in their area another option. “I’m also really pleased that these homes will have renewable energy systems which will lower the development’s total carbon emissions. Contributing to the UK’s drive to low carbon homes as part of action to address climate change is one of our key aims in our new corporate plan.” Councillor Nadeem Ahmed, Leader of Pendle Council and a PEARL board member said; “PEARL has expanded its joint venture to partner with Together Housing, offering a great quality of life for a wide range of people thanks to a mix of housing for sale and affordable housing. “We are proud to work together to bring this new development of affordable, eco-friendly housing to Pendle. This is part of our commitment to working collaboratively in Pendle to tackle global warming and the effects of climate change.” Tim Webber, Chairman and Managing Director of the Barnfield Group and PEARL board member commented; “We’re delighted to be bringing forward this eco-friendly and much needed affordable housing development in Colne, with our partners. Being contractors and developers who are based in Nelson, we are very passionate about regenerating Pendle. The team on site are doing a fantastic job and we’re looking forward to delivering another quality housing development in the town.” The development has been made possible thanks to £3.5m Homes England Strategic Partnership funding. Together Housing was announced as one of the government housing agency’s strategic partners in January 2019, receiving £53 million to help deliver 1,152 additional new homes by 2025. Installation of the renewable energy systems has been part funded by the European Regional Development Fund.
A £17.7m contract to deliver 113 new homes for Yorkshire Housing has been awarded to contractor Tolent. The development in Menston includes a mix of two, three and four bedroom homes and will be available for a mix of tenures including shared ownership, right to buy and affordable rent. The development will be delivered on behalf of Yorkshire Housing who manages more than 18,000 affordable and social rent homes, and is supported with Homes England funding. Sian Grindley, director of development at Yorkshire Housing, said: “At Yorkshire Housing we’re passionate about building homes and communities that our customers are proud to live in and call home. Menston is a desirable location for many people and we’re proud to be able to offer a choice of homes at this site. “We’re excited about what we’re doing with smart technology here, which will benefit both the customer and the environment. We’re looking at how we can use innovative products at every stage, from the construction method itself through to the technology that our customers will use and benefit from. This is the first site that we’re looking to use structurally insulated panels for the build and we’re also considering a number of different smart tech options for the finished homes. This will mean greater resident control and it’ll also make it easier for us to monitor the energy performance of our rental homes. “Our progress means we can deliver more, much needed homes to the region and continue working towards our strategic priority of delivering 8,000 homes by 2030. We’re delighted that our hard work will give hundreds of people an opportunity to move into a high quality new home.” Tolent, who has regional bases across the North East and Yorkshire, will be using a mix of modern methods of construction (MMC) on a number of units, which would see the structure of some homes go from foundations to roof level in just one week. Other benefits of MMC ensure homes are more environmentally friendly, more energy efficient and reduces the carbon footprint of the development. Mike Brown, commercial director for Tolent said: “This is a fantastic win for us and we’re delighted to be working with the team at Yorkshire Housing to deliver this flagship scheme. “It’s a privilege to be involved in creating new, inclusive communities and we’ll also be delivering on our commitment to create employment and apprenticeship opportunities as well as engaging with local schools, colleges and universities.” Work is expected to start on site later this summer and is expected to complete in spring 2024. Tolent announced its intentions to expand its housing division further into Yorkshire in 2020 and has recently won a string of new contracts in the area. Contracts include a £2.6m project to create 14 affordable homes in Batley and a £4.1m job that will see 32 new homes delivered in Kirkbymoorside. Including work completed in 2020 and secured work into 2023, Tolent is set to deliver around 3,000 new homes covering both the private and public sector across the North East and Yorkshire.
Research from Build to Rent specialists, Ascend Properties, has revealed how the sector is poised to gain further momentum due to the number of units currently under construction. Previous research by Ascend found that where pandemic completions across the BTR sector were concerned, London had seen a 28% uplift, while elsewhere across the UK completions were down -33%. However, when analysing sector data on the number of BTR units currently under construction, the opposite is true. The latest data shows that across the UK, 36,054 BTR units are currently in the pipeline, a -1.8% drop year on year. In London, there are 16,227 BTR units currently under construction in 2021, a year on year decline of -8.2%. However, elsewhere across the UK, the number of BTR units currently in the process of delivery has climbed by 4.1% in 2021 when compared to the previous year. Ascend also analysed the Build to Rent pipeline In terms of the sheer value of bricks and mortar it will be bringing to market as a result. In total, the 36,054 UK wide BTR units currently under construction are estimated to add £10.9bn in value to the Build to Rent market. With new build property values higher in London, Ascend estimates those units currently under construction to add an additional £8.1bn in market value. While higher than the rest of the UK, this does equate to a -7.5% drop in the total value of the capital’s BTR pipeline on a year to year basis. In contrast, the BTR pipeline across the rest of the UK is estimated to be worth £5.7bn and while it trails London, this is an impressive 9% uplift on an annual basis. Managing Director of Ascend Properties, Ged McPartlin, commented: “The strength of the build to rent sector goes beyond the number of units being delivered to market and so it’s important that we also consider those currently under construction as an indicator of future sector performance. In this respect, the strength of the sector is pretty evident as despite the uncertainty posed by the pandemic, build to rent construction is down less than two per cent in 2021 when compared to the same time last year just as Covid was taking hold. While London is leading the way in terms of pandemic completions and the overall potential value of the build to rent pipeline, the rest of the UK is steaming ahead in terms of an increase in the number of units under construction and their year on year value growth. So there are positive signs across the board that the build to rent sector continues to build momentum and it’s also important to note that this is based on the Q1 pipeline only, with these figures only likely to grow as the year progresses.” BtR units under construction Location 2020 Q1 2021 Q1 Change 2020 Q1 to 2021 Q1 London 17,672 16,227 -8.2% Regions 19,040 19,827 4.1% Total (UK) 36,712 36,054 -1.8% Data sourced from BPF.org BtR units under construction est total values Location 2020 Q1 2021 Q1 Change 2020 Q1 to 2021 Q1 London £8,765,352,072 £8,112,222,335 -7.5% Regions £5,239,677,609 £5,710,379,764 9.0% Total (UK) £10,606,015,560 £10,922,786,332 3.0% Values based on quarterly new build values and pipeline delivery for each quarter
Connected Places Catapult has brought together Yorkshire Housing and Vantage UAV as part of the Government Drone Pathfinder Catalyst Programme. The programme is sponsored by the Department for Transport (DfT), and supported by the Department for Business, Energy & Industrial Strategy (BEIS), and the Civil Aviation Authority (CAA). Together we aim to accelerate the safe adoption of drones across UK business sectors by engaging with industries and showcase the benefits of integrating drone services into existing workflow. Drones are not new to property management but, despite their benefits, drones are not yet widely used across industries. This collaboration with Yorkshire Housing aims to catalyse step-change improvements and provide the evidence to encourage more use of drones to drive safety, productivity, and efficiency for other housing providers. For example, a drone building inspection can offer faster diagnosis and improved service for maintenance repairs at customer properties. Often the management, repair and maintenance of properties are major costs to housing providers. Traditionally physical inspections at height use scaffolding or mobile work platforms to inspect the condition of properties. These can be labour intensive and expensive to set up. Depending on the location, they can also result in disruption, intrusion, and security issues with unauthorised access. This is where drones come into their own, improving safety and productivity by providing visual access to difficult to reach and hazardous spaces, reducing the use of elevated work platforms. Drones can capture high-quality aerial imaging and 3D models. This leads to quicker and more effective diagnosis whilst saving the cost of inspection expenditure and reducing disruption for customers. Ultimately, drones can support more targeted maintenance and move towards a more preventative maintenance regime in the long term. Aviation Minister, Robert Courts said: “We’re pioneering a golden age of aviation innovation in which drones will play a huge role in not only transforming the future of transport but providing solutions to global issues. Yorkshire Housing’s trial is the latest in a string of exciting new trials which harness the benefits of drones to provide quicker, cheaper and more effective services for the public.” Commenting on the programme, Andy Gamble, Executive Director Growth & Assets at Yorkshire Housing, said: “It’s really exciting to play a part in the national Drone Pathfinder Catalyst Programme. Yorkshire Housing look after some 18,000 properties across Yorkshire, so drones offer us a real opportunity to improve our service. Not only does it make real savings by reducing the need for expensive scaffolding and using heavy machinery to carry safety checks, but it also means our customers can have problems at their homes diagnosed and fixed far sooner.” Hannah Tew, Director of Air Mobility, Connected Places Catapult said: “We are delighted to be leading the Drone Pathfinder Catalyst programme on behalf of the Department for Transport and our first demonstration with Yorkshire Housing and Vantage UAV has really shown how drones can be adopted in different sectors to improve existing services.” Many drone solution service providers are already available on the market, which is expected to grow significantly over the next few years. They can provide end-to-end services even for organisations with little or no experience of using drones. The results from the demonstration with Yorkshire Housing will be published towards to end of this month and showcased in a webinar on the 29th June. Find out more by registering for Driving productivity using drones in the Housing Sector webinar co-hosted by Connected Places Catapult and Disruptive Innovators Network.
Work is underway on a landmark housing project that will provide much needed homes for affordable rent and shared ownership in the heart of a popular Shropshire market town. Planning permission for nine new homes on the site of the former Beehive pub in Shifnal was granted in March and the builder TC Homes, working in partnership with Housing Plus Group, has started on site. Kerry Bolister, Director of Development at Housing Plus Group explained: “Since it was closed in 2017, the pub and its car park have become something of an eyesore, attracting anti-social behaviour and many in the town will welcome the start of work to transform the site. “The scheme has also won the backing of councillors for providing homes in an area with very high demand for affordable accommodation.” TC Homes, which has worked with Housing Plus Group on previous projects and brought this development opportunity to the attention of the housing association, is the construction partner on the project that will see nine, three bedroomed houses built (six houses for affordable rent and three for shared ownership). Built as three terraces, they’re expected to be completed by May 2022 and Tim Charnley, TC Homes Director, commented: “We are excited to get started on our new project with the Housing Plus Group. The build will consist of nine affordable houses for the local community and will utilise a space that has sat dormant for some time. “With the country having such a large housing shortfall, we hope our contribution to the construction of affordable homes will benefit the surrounding community and provide opportunities to local sub-contractors and suppliers. “We appreciate that any kind of construction can cause some inconvenience to those directly affected but we hope with working in partnership with residents, schools and the wider community we can achieve another fantastic development.” The development is part of wider plans by Housing Plus Group to start 2,000 new homes across Shropshire and Staffordshire for rent, shared ownership and outright sale by 2023 as the organisation strives to make a positive difference to the homes, lives and communities it serves.
Danielle Cox, Assistant Property Manager at our Remus Reading office has been awarded a ‘Special Commendation’ by Thames Valley Police for an act of extreme courage in assisting with the rescue of a neighbour during a violent assault. The swift actions of Danielle and her partner were deemed by police officers and medics who attended the incident as lifesaving and aided in the assailant’s arrest and imprisonment. Due to a lengthy court case the award was eventually made to Danielle and her partner on 14th June at 6pm in the ceremonial room at Thames Valley Police Head Quarters in Reading. The incident occurred on 1st November 2020 when Danielle and her partner were alerted to disturbing noises coming from a flat above theirs, which turned out to be a violent incident between a husband and wife. The swift intervention by Danielle and her partner meant the person being assaulted was removed from the scene, and the first aid administered by Danielle shortly after prevented what would have resulted in a fatal incident. The lady in question sustained serious head injuries which required surgery on arrival at the local hospital. The assailant was arrested, and he has since been convicted to serve a 12-year sentence. The police and doctor’s reports stated that if Danielle and her partner had not acted in the way that they did, as courageously and as swiftly, the victim would not have survived due to the amount of blood loss suffered from the assault. Reading Thames Valley Police – DC David Hill who was the detective on the case states: “Without these two people acting when they did the lady would almost certainly have died. She told us that when the door opened, and she saw the two people standing there it gave a glimmer of hope. We wish there were more people like Danielle and her partner, who were willing to put their own lives in danger to help others, without giving a second thought. It also gives me hope that there are people out there who will act to save lives.” Certificates of commendation were presented to Danielle and her partner by Super Intendent Rebecca Mears, Head of Protecting Vulnerable People at a ceremony held at Thames Valley Police, which was attended by several other police officers. During the ceremony Danielle was informed that her witness statement helped in the assailant’s sentence being extended to 12 years. DC Hill has told Danielle that she would make a great police officer.
250 households are now in mid-market rent accommodation, thanks to Council’s mid-market rent partnership, Edinburgh Living The new Edinburgh Living website will provide more information about the partnership and signpost those looking for a mid-market rent home to what is currently available and under construction. Launched in January 2019, the housing delivery partnership has a strong programme to deliver homes, and will provide 500 households with affordable, secure homes by the end of 2022 Edinburgh Living, the City of Edinburgh Council’s mid-market rent partnership, is celebrating hitting a key milestone with more than 250 families now in quality affordable homes thanks to the initiative, developed in partnership with infrastructure experts, Scottish Futures Trust. Now in eight sites across the city, Edinburgh Living’s 250th tenant moved into their new home in Craigmillar last month. Let and managed by Lowther Homes, part of Wheatley Group, Edinburgh Living has also launched its new website this week which will provide information about the initiative and help more individuals and families find their new home through links to what homes are available and what is coming soon. Danielle Beatson, 42, who has recently moved into a three-bedroom home with her partner and three children, said: We love our new home; it’s in the perfect area and is so spacious. The community is great; it’s a really family-friendly area, and my children are often outside playing with friends. The home has made a big difference to Danielle’s life: Our landlord was selling the home we were renting and we were struggling to find another suitable property at short notice. Mid-market rent was a fantastic, affordable option for us. The application process was simple, and we were able to move in quickly after applying.” We feel so settled and secure now; my partner and I are really happy, and so are the kids, which is brilliant. Launched in Jan 2019, supported by the Scottish Government, the Council set up Edinburgh Living to address the lack of affordable housing available in Edinburgh by offering mid-market rent homes to households on low to middle incomes that were struggling to access property, either to purchase or rent, on the open market. The initiative is also supporting homelessness prevention, working together with Council services and Lowther Homes to raise the profile of mid-market rent as an option for lower income households at risk of homelessness. The Council and Scottish Futures Trust have strong ambitions to continue to grow Edinburgh Living, with an acquisition target of 500 homes by the end of 2022, and the long-term aim to provide 1,500 new mid-market rent and market rent homes over the next few years. The Council is proactively identifying more homes to achieve this ambition, delivering well-built, well-managed and energy efficient new homes through its own housebuilding programme. Councillor Kate Campbell, Edinburgh’s Housing, Homelessness and Fair Work Convener said: Hitting this big milestone and now having 250 family households in safe, warm and affordable homes, with more homes being identified to double that figure by the end of next year is just fantastic. Also hearing what a difference these bright and modern homes are making to people’s lives is the reason we started this programme in the first place. Making sure everyone has access to an affordable and energy efficient place to live has long been our priority. We have ambitious plans to grow the number of properties we own which we’ll do by purchasing homes, and by building homes through own housing development programme, delivering 20,000 affordable homes by 2027. As a Council we’re also committed to ending poverty, becoming more sustainable, while helping to foster greater wellbeing and inclusion, and so Edinburgh Living is just one of the ways we’re doing that for our residents and the city of Edinburgh. Councillor Mandy Watt, Housing, Homelessness and Fair Work Vice-Convener, added: It’s a real joy to have families moving in and settling into their new homes through Edinburgh Living. And it’s great to see the new website provide more information about the partnership and signpost those looking for a mid-market rent home to what is currently available and under construction. We now have homes in eight locations which puts Edinburgh Living homes in three quarters of the city. These homes provide quality, stable accommodation to families, improving the diversity of communities and helping with the regeneration of parts of Edinburgh. Christa Reekie, director Development and Housing at the Scottish Futures Trust, said: As infrastructure experts, we’re always looking for new and collaborative ways to maximise the delivery of affordable housing and boost the impact they have in communities right across Scotland. Edinburgh Living is a case in point – a joint venture that is working towards the delivery of 1,500 much-needed, affordable and market rent homes in Edinburgh. Today’s milestone marks a significant step in the programme that is now benefitting 250 families and is increasing the supply of high quality, energy efficient homes for many years to come. Heather Voisey, Lowther Homes Managing Director, said: We’re delighted to mark this important milestone in our partnership with Edinburgh Living. Mid-market rent flats offer much-needed affordable housing in sought-after locations, and it’s great to see the 250th tenant move in. We look forward to continuing to let and manage affordable Edinburgh Living homes across the city. Edinburgh Living has homes across eight locations including Clermiston, Hailesland, Pennywell, Greendykes, North Sighthill, Royston, Dumbryden and Craigmillar.
Hart District Council took delivery of 41 new homes at an official event held on Thursday 13 May between representatives of the Council and Berkeley Homes. The collection of new apartments will be let by Bridges, on behalf of the Council, at affordable rents to people from the local area. The affordable apartments come in a range of one and two-bedroom layouts set in two attractive buildings. Residents will become part of the thriving new community at Edenbrook Village, which includes the 82-acre country park, a brand new leisure centre, sports pitches, BMX track and other recreational facilities. All homes come with the high-quality interior specification that Berkeley is known for as well as dedicated car parking. Throughout the development of Edenbrook Village, Berkeley has worked very closely with Hart District Council to create an outstanding place to live with a wide range of valuable amenities for existing and future communities, with a strong emphasis on the natural environment. Cllr John Kennett, Chairman of Hart District Council said: “There is growing demand for affordable rental homes in the district especially among young people, so it is great to have this range of apartments at Edenbrook Village completed and ready to move into. With the popular country park and other amenities already up and running, it is a fantastic place to live and we are pleased to take ownership of these new homes.” Harry Lewis, Managing Director of Berkeley Homes (Southern), commented: “We are delighted to have completed these homes for Hart District Council. We shared a vision with the Council to deliver homes for local keyworkers and today that vision has been realised. As a well-balanced new community, Edenbrook now provides homes for all comers, from large private family houses to tenure blind affordable apartments for local young people and everything in between.” When complete, Edenbrook Village will have a total of 600 new homes in a wide range of designs and sizes to appeal to all residents. Built to the highest architectural standards and designed to blend in with the natural surroundings, all of the homes at Edenbrook Village are carefully crafted to suit modern lifestyles. The country park, green open spaces and leisure facilities have improved the quality of life for residents and the wider community, while making a significant contribution to nature and biodiversity. Living at Edenbrook Village is convenient and well-connected. Fleet town centre is just two miles away, offering a wide range of shops and amenities. Rail connections are easy with Fleet station just a five-minute drive away, from where journeys into London Waterloo take around 40 minutes. Guildford, Reading and Woking are all around half an hour away by car. The new affordable rented homes at Edenbrook Village will be available from Hart District Council through Bridges – see www.bridges.co.uk. For further information about Edenbrook Village and other homes currently available, please visit www.edenbrookvillage.co.uk.
Keepmoat Homes continues to grow its development portfolio in the North West after acquiring three new land deals that will see the top ten UK housebuilder deliver 723 new homes, with a combined Gross Development Value (GDV) of £135m. The sites are located in Leyland, Accrington and Stoke on Trent and have all obtained planning approval from local authorities. The three schemes are: A 520-plot development Farington Mews, Leyland A 157-plot development at Biddulph, Stoke on Trent A 46-plot development Acorn View, Accrington The developments will offer two, three and four bedroom homes which will be available in multiple house types and various purchasing options from open market sale to shared ownership. Homebuyers will also be able to benefit from the Government-backed mortgage guarantee, allowing first-time and current homeowners to obtain a 95% mortgage from lenders. Gareth Owen, Land & Partnerships Director at Keepmoat Homes, said: “Our team has been working hard over the 6 months with local authorties and registered providers and the latest acquisitions are a testament to their efforts. We’re delighted to have aquired these three significant sites, all in ideal locations, which brings our total of active developments in the North West to 15. “As a business, our ethos is to not just build homes, but transform communities and improve the lives of local people. We’re driven to deliver increasingly sustainable and affordable homes and we’re taking action to reduce carbon emissions from our operations, our supply chain and the homes we build and adapt our operations and homes to our changing climate. Our Acorn View development in Accrington will feature car charging points for those with electric vehicles at each of the homes and we take pride in providing green open spaces for both residents and the local community to enjoy. “We can see from our existing developments, across the North West in particular, that demand for new homes is increasing and following these successes, we’re driven to remain active across the region and are seeking new land opportunities for residential led developments.”
Over the last 15 years, the stock of private rented residential property has grown faster than owner occupied homes, as the rental market has gone from strength to strength. A fifth of the UK population now lives in private rental accommodation – that’s 4.7 million households and twice the proportion of renters compared to 20 years ago, according to recent statistics. Whereas getting the best from your property investment once meant double digit capital growth, now rental yield has become a significant measure of ROI. And whether you’re a seasoned property investor or a first-time landlord, charging the right amount of rent to give you the best return on your asset can be tough in a crowded, highly competitive market. So, what can you do to make sure your property performs? The trick is to think like a commercial operator, by defining where the greatest demand for your ‘product’ lies, then giving your ‘customers’ exactly what they need. When it comes to achieving the best rental rate for your buy-to-let flat or house, here are some key steps you should take to stay one step ahead of the competition. Who is your target tenant? Finding the right tenant for your rental property is fundamental for business success. It’s not simply a case of finding just anyone who can pay the rent on time. If you have a clear idea of who your ideal tenant would be – low/high income tenants, young professionals, families, students etc – it gives you a much better chance to present the property to attract the target market and maximise the return on your investment. There’s no point styling your executive flat to suit a family if the property and the location are ideally suited for the young professional commuter market, and vice versa. Young professionals are often favoured on account of their independence and financial security, while renting to families tends to be a longer-term arrangement requiring less property management time on the part of the landlord. Paying close attention to the market will enable you to zoom in on the people with the highest level of demand for your property, and who are willing and able to pay top rents. Maintaining your property Unlike traditional financial investments, a physical asset such as a property needs looking after, and this is one of the landlord’s key responsibilities. Your tenants may or may not be interested in carrying out minor DIY jobs, and if they report a problem to you, it’s important that you investigate and take swift action to stop any minor niggles from turning into major building problems. From a loose door handle to a cold radiator, a faulty microwave or a damp patch on the ceiling, it’s never a good idea to let things slide. When you are between tenants and have unencumbered access, use the opportunity to check the property over to make sure it’s in tip top condition for the next contract. Schedule in a professional deep-clean, including window, carpet and oven cleaning, and bear in mind that you can charge tenants for an end-of-tenancy clean if the property has been left in a particularly poor condition. Now is also an excellent time to carry out additional maintenance or refurbishment jobs such as replacing tatty carpets, repainting walls and woodwork or getting the chimney swept. Looking after outdoor spaces If your rental property is a house with a garden, patio or conservatory, your tenants are more likely to be families or high income tenants who appreciate the extra space along with a few home comforts. Don’t make the cardinal mistake of focusing all your upkeep efforts on the inside of the house – the garden is what sets your property apart from the competition and justifies a premium rent! Traditional UPVC conservatories are prone to deterioration with age; they become brittle and the seals become less pliable, which can lead to leaks. You should have them professionally cleaned and serviced every three years or so, as recommended by Fargil, the UK’s leading conservatory valeting company. Decking, garden steps and patio paving can all get wet over time and present a slip hazard. An annual going over with a pressure washer is an effective way to remove the build up of moss and algae. If you have a hot tub or swimming pool, it goes without saying that these should be professionally maintained. Energy efficiency Since April 2018, the Energy Efficiency Certificate (EPC) is a key part of a landlord’s legal energy efficiency obligations – all rented properties must have one. The EPC rating goes from A (most efficient) to G (least efficient) and can be a big selling point for tenants. If you can show that your BTL property is going to help tenants keep their heating bills down, they will be more inclined to pay a premium price. The Certificate also has a ‘recommendations’ section to suggest improvements that could substantially improve the building’s rating. Low energy lighting, cavity wall insulation and loft insulation fall under ‘lower cost’ recommendations typically budgeted at less than £500 to implement, while higher cost suggestions include boiler replacements. Interestingly, many of the lowest cost measures are actually the most efficient and beneficial for the property, and well worth considering. Consider home improvements If you are planning non-essential home improvement projects such as major renovations or structural work, it’s advisable to assess the likely costs and benefits and scrutinise the numbers to make sure it’s really worth doing. How much downtime is involved where the property won’t be generating income? Will your target tenants appreciate the improved amenity? How long will it take to recoup the investment? If you do want to make improvements, the kitchen and bathrooms should be your first port of call – and this applies whether you’re hoping to attract quality tenants or purchasers. Install a new kitchen with build-in appliances including a dishwasher, and replace the bathroom with a white, modern suite and a decent shower unit. This is
