V7 Asset Management and BauMont Real Estate Capital have appointed LSH as letting and managing agents on their new project at Thames Valley Park, Reading. BauMont acquired buildings Four and Five from Microsoft in March 2020 and retained renowned redevelopment and asset management company V7 for their exciting new project. The properties will undergo a comprehensive refurbishment which will focus on wellness and sustainability, creating an exciting prime office environment that brings the best of the town centre amenity and workplace trends to Thames Valley Park. The buildings comprise of a total of 155,585 sq ft and are located just off Junction 10 of the M4, perfectly situated for access to Heathrow airport within 30 minutes and Reading train station is just two miles away. Tom Fletcher, Head of LSH’s Reading office, said: “We’re thrilled to be working with V7 and BauMont on this exciting project. We’re seeing a solid level of activity in the Reading office market and we truly believe that, once complete, this workspace will transform the perception of business parks leading to it becoming a magnet for occupiers migrating from London who are seeking to diversify their operational footprint.” Hazel Nancarrow, Director of Property and Asset Management at LSH, added: “We are excited to be working with an asset manager who is as passionate about transforming underperforming buildings as we are providing stand out management and occupier experiences, and we look forward to supporting V7 and BauMont in realising the true potential of these two buildings over the coming months and years.” Chris Hunt, Co-founder and Director at V7 Asset Management, commented: “We have had a really positive experience of working with LSH on several other properties and were particularly impressed by their enthusiasm for results in lettings and their drive for community and environmental sustainability across the properties that they manage, so they were the natural agent of choice for this instruction.” The refurbishment will see Building Four (69,370 sq ft is PC in 2021) and Building Five (86,215 sq ft PC summer of 2022) undergo an extensive refurbishment offering new amenities including a concierge reception and event management, outdoor terraces, indoor and outdoor gyms, tree-house meeting rooms and independently run Cafés by local baristas.

Angel Central Shopping Centre has appointed Lambert Smith Hampton’s (LSH) Belfast-based property and asset management team as its managing agent to help out with the site’s £16 million redevelopment. Due to be completed in November, the £16 million shopping centre masterplan by CBRE Global Investors will create further retail, additional leisure and restaurant space plus an outdoor terrace area. Phase one investment works included the redesign of an existing car park into new retail and leisure space and the creation of a 15,500 sq ft flagship retail unit for Uniqlo. The second phase of the transformation includes the elevation of the 12-tonne Angel Wings sculpture, while an existing retail unit is to be converted into a restaurant. “We are delighted to be appointed on Angel Central, particularly at such an exciting time for the scheme following significant investment from the landlord. CBRE GI has worked hard to elevate the shopping experience at this centre with additional space and a new layout. We very much look forward to being part of the successful future of this landmark scheme,” commented Gary Nesbitt, head of property and asset management at LSH in Belfast. Located in Islington, the centre has tenants that include Uniqlo, The 02 Academy, Vue Cinema, L’Occitane, Wagamama and bespoke fitness operator FRAME.

Whether you’re a landlord or you simply want to make money with real estate, understanding how to manage property properly is essential to your success. You don’t just need to know how to fix things when they break. Any first time landlord/property manager needs to take on many jobs when they’re just starting out.  How you manage a property could make a big difference to your success. Short term rentals are becoming more popular, but long term rentals are one of the best ways to make passive income. The best thing about it is that even if you only put 20% down on a property, you will receive 100% of the rental income. Not having time shouldn’t be an issue, as a local property manager could take care of everything for you. However, you could save a huge sum of money if you do some of it yourself. Here, we’ll go through 10 things all property management beginners should know.  Transparency is Key Managing a property the right way involves a lot of hard work, communication, and transparency. Setting expectations by going the extra mile for people in the properties is a must – the only way you can land yourself in hot water is if you fail to communicate or set the wrong expectations. For short term rentals, if you list a feature not available in a property it’s not important as long as you communicate to resolve the issue quickly. If you leave it to fester and don’t say anything, it could end in a complaint. Being as transparent as possible when listing and describing the property can save plenty of headaches and complaints later on down the line.  2. Get To Know The Property and Save Headaches  Upon purchasing a property to rent out, make sure you get to know it as well as you can. Knowing what systems and elements are involved and the lifespan of those systems is key, as you need to be prepared to care for them appropriately. A lack of preventative maintenance will result in complaints at the very least, at most, a huge repair bill and even a serious accident.  3. Reinvest in the Property Before You Rent It Out Reinvesting in the property before you rent it out could mean making it far more attractive and attracting guests who want more luxury. People will pay good money to rent a luxurious property.  4. Do The Maths – A Financial Plan Is Imperative Make sure you have a good idea of how much revenue your home is likely to generate, taking into account the location, the level of luxury, the size, and the amenities. This will also depend on who you plan on renting it to, for instance, families looking for something long term or couples looking for a short term stay.  5. Work Alongside A Real Estate Agent A good real estate agent can offer some great advice pertaining to the industry and property management. However, they should understand the business, so do your research to find someone suitable. This will do you the world of good during the early stages.  6. Should You Use Finance To Fund Your Purchases? Knowing where you’re going to find the money to finance your purchases is crucial. Banks and societies will offer buy to let finance, but you may need to consider things like home loan refinancing or restructuring so you can free up capital to achieve this. A private loan, business angel, or another source of cash could also work depending on what you believe to be best for your venture.  Property is a debt driven business. You do need to take on some level of debt before you can really enter the property market. Even cheap properties are expensive commodities. Unless you have a large amount of cash in reserve, going into debt is the only way to achieve your goals.  7. Your Strategy Regarding Personal Use Of course you can use your own property, but if you’re using it as a vacation rental then you don’t want to be there during peak times. Make sure you’re strategic about your personal use and stick to the off season if you can.  8. Think Of It As A Hospitality Business When running the place as a rental, you should think of it like a hospitality business. Consider the care and attention that many hotels and other types of accommodation provide to their clients. It should be second to none, and the extra mile will ensure that these people consider coming back again and again. A property management company can help with this, but you do need to have a genuine desire to please the people who stay in your property. Treating them like valued friends will go a long way to making sure they give you a good review and help you to build your reputation.  9. Come Up With Realistic Pricing One of the biggest mistakes that property managers can make, is renting out a place with the pricing set too high. Your approach should be realistic, so do your research. What are others charging for similar properties in similar areas? You need to use this information to come up with a price that people will pay. You should work hard to find the sweet spot if you want to have a high occupancy rate.  10. Build a Solid Relationship With Your Housekeeping Team Having a housekeeping team that you can trust is essential. If you’re going to own property and rent it out, a high level of care and attention when hiring your team will make the biggest difference to client satisfaction and your reviews. A team that overlooks the details will only reflect badly on you and your service. Complaints and negative reviews will make your business suffer. Set your expectations clearly when you find a team and then work on building that relationship. If you’re just starting out as a landlord or getting into property management, the

When investing in real estate, there are a few things to think about. This is specifically true when you’ve decided to invest in rental property. For one, you’ll have various challenges to deal with, including marketing, screening tenants, collecting rent, evictions, and property maintenance, among other things. This can be a real headache as a landlord, especially if you’re just starting out. If you guessed right, this is where property management agencies come in. With this having been mentioned, here are the top 4 reasons to hire a property manager. 1. Property Managers Know the Law Maybe you have at some point in life wished to own property and probably collect rent like we have been loading our landlords’ bank account every month. Well, it’s just a matter of setting goals, and working towards your dreams… nothing is impossible. But how conversant are you with the laws that govern landlords and tenants? No idea? Well, you don’t have to worry about that if you have a rental property management firm taking care of business. These professionals are well informed about the hustle and bustle of managing a property. Their services range from admitting tenants to collecting rent, managing utility payments, and enforcing evictions. They also take care of property leases and everything in between. As an investor, it may cost you time and resources to understand the law that governs the rental property. These professionals are a must-have if you want to have peace of mind as a landlord. 2. They Enhance Professionalism Property managers are a link between the landlord and the tenants. Sometimes, situations may get hard, and the tenants may not pay their bills on time. A property manager is there to bar the tenant from having a “conversation” with the landlord about the situation. These interactions may restrict professionalism, and end up affecting profitability. When you have a property manager, such situations will be handled professionally and effectively in favor of both parties without too much leniency on either side. After all, you are in business. 3. Are an Investment in Disguise When hiring a property manager, many investors fail by concentrating on the expenses and fees involved. As an investor, however, one thing is for sure… you may not have enough time to go around looking for new clients for your vacant property or houses. Also, when a tenant vacates their premises, they are supposed to bear the cost of damages during their occupancy. A good property manager will ensure that the tenant caters to these, usually through the security deposit or otherwise. 4. They Are Experienced Professionals  When you choose to manage your property, you will admit every Tom, Dick, and Harry in your property to recover your money. Wait! Do you know how much of a headache it is to keep chasing a tenant for not paying rent? Just In the course of their profession, the property manager will be in a position to know the kind of tenant he is absorbing by screening their information. They will be in a better place to filter out “bad” tenants, thus ensuring your property gets the best tenants. Experienced property managers will almost always have a list of potential clients ready to occupy the property.