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The Pros and Cons of Living in Milton Keynes: A Modern Urban Oasis

Thu, 25 May 2023 14:56:12 GMT

Milton Keynes, located in Buckinghamshire, England, is a unique and vibrant town known for its innovative urban planning and contemporary lifestyle. Designed with a vision of creating a balanced environment for residents, Milton Keynes offers a host of advantages that make it an attractive place to live. However, like any location, it has its drawbacks as well. In this blog post, we will explore the pros and cons of living in Milton Keynes, helping you make an informed decision if you're considering this town as your future home.

Pros of Living in Milton Keynes:

1. Modern Infrastructure and Planning:

One of the biggest advantages of living in Milton Keynes is its meticulously planned infrastructure. The town boasts excellent road networks, efficient public transportation systems, and a network of pedestrian and cycling paths. This makes commuting within the town and traveling to nearby cities incredibly convenient, reducing the stress associated with transportation.

2. Green Spaces and Parks:

Milton Keynes is renowned for its abundance of green spaces, parks, and lakes. The town is adorned with more than 20 million trees, offering a refreshing environment and ample opportunities for outdoor activities. Whether you enjoy cycling, jogging, or simply unwinding amidst nature, you'll find plenty of picturesque spots to explore.

3. Cultural and Entertainment Hub:

Despite being a relatively young town, Milton Keynes offers a vibrant cultural scene. It boasts a range of art galleries, theatres, and live music venues, hosting a diverse array of performances throughout the year. The famous Milton Keynes Theatre is the largest outside of London, attracting renowned productions and world-class performers. Additionally, the town houses the National Bowl, a renowned open-air venue that has hosted some of the biggest music concerts and festivals.

4. Shopping and Dining:

Milton Keynes is a shopper's paradise, offering a variety of shopping centres and retail parks, such as Centre:MK and intu Milton Keynes. These destinations house a wide range of high-street brands, independent boutiques, and eateries, catering to all tastes and preferences. Whether you're looking for fashionable clothing, household items, or delicious cuisine, you'll find an abundance of options in Milton Keynes.

Cons of Living in Milton Keynes:

1. Lack of Historical Charm:

As a new town, Milton Keynes lacks the historical charm found in some other British towns. If you're someone who appreciates centuries-old architecture and a rich heritage, you may find the town's modern aesthetics somewhat impersonal.

2. Limited Job Market:

While Milton Keynes is home to several national and international corporations, such as Red Bull Racing and Santander, the job market can be relatively competitive, especially in certain sectors. Depending on your profession or industry, you may find it challenging to secure the job opportunities you desire within the town itself.

3. Traffic Congestion:

Although Milton Keynes is known for its excellent infrastructure, it can still experience traffic congestion during peak hours. The town's popularity and rapid growth have resulted in increased traffic volumes, especially on major roads and roundabouts. It's important to consider commuting times and plan accordingly to avoid unnecessary delays.

4. Cost of Living:

Like many desirable locations, the cost of living in Milton Keynes can be relatively high compared to surrounding areas. Housing prices can be steep, making it challenging for first-time buyers or individuals on a limited budget to find affordable housing options.

Conclusion :

In conclusion, Milton Keynes presents a distinctive blend of advantages and disadvantages for those considering it as their place of residence. The town's well-planned infrastructure, abundance of green spaces, and vibrant cultural scene undoubtedly make it an attractive destination. Commuters will appreciate the efficient transportation networks, while nature enthusiasts can indulge in the numerous parks and lakes. Additionally, the town's shopping and dining options cater to a wide range of tastes and preferences.

However, it's important to acknowledge the limitations of living in Milton Keynes. The lack of historical charm may be a downside for individuals seeking a more traditional setting. Moreover, the competitive job market and traffic congestion during peak hours can pose challenges for some residents. Additionally, the relatively high cost of living, particularly in terms of housing prices, may be a deterrent for those on a tight budget.

Ultimately, whether Milton Keynes is the right place for you to call home depends on your priorities and preferences. Consider the town's modern appeal, cultural offerings, and convenient amenities alongside the potential drawbacks. With careful consideration, you can make an informed decision that aligns with your lifestyle and aspirations.

I Want to Sell My Property: What Do I Do First?

Thu, 25 May 2023 13:46:24 GMT

Deciding to sell a property is a significant step that can bring about various emotions and challenges. Whether you're looking to upgrade, downsize, or simply need a change, selling your property requires careful planning and preparation. To help you navigate this complex process, we've outlined the crucial first steps you should take to ensure a successful sale.

1. Evaluate Your Property:

Before diving into the selling process, it's essential to evaluate your property objectively. Take a step back and assess its current condition, considering both its strengths and weaknesses. Look for any repairs or renovations that may be necessary to enhance its appeal to potential buyers. This evaluation will give you a clear idea of the property's market value and help you set a realistic asking price.

2. Research the Property Market:

Understanding the current state of the property market in your area is vital. Research recent sales, average property prices, and trends specific to your location. This information will provide you with valuable insights into the demand, competition, and pricing dynamics of your local market. You can consult estate agents, online databases, and local property listings to gather relevant data.

3. Find a Reputable Estate Agent:

Partnering with a professional estate agent can make a significant difference in the success of your property sale. Seek recommendations, read reviews, and interview multiple agents to find one who specializes in your area and has a proven track record of successful sales. A reliable agent will guide you through the entire selling process, offer valuable advice, help set the right price, market your property effectively, and negotiate on your behalf.

4. Set a Realistic Asking Price:

Determining the right price for your property is crucial for attracting potential buyers. Your estate agent will assess the market value of your property based on factors such as its location, size, condition, and recent sales in the area. While it's tempting to aim for a higher price, setting a realistic and competitive asking price will attract more interest and help you sell your property faster.

5. Prepare Your Property for Sale:

First impressions matter, especially when it comes to selling property. Take the time to make your home presentable and appealing to potential buyers. Declutter, deep clean, and consider staging your property to showcase its full potential. Address any necessary repairs, touch-ups, or improvements to enhance its overall appearance. Pay particular attention to the curb appeal as it creates the first impression for potential buyers.

6. Gather and Organize Documentation:

To streamline the selling process, gather and organize all the necessary documentation related to your property. This includes property deeds, title deeds, mortgage information, warranties, permits, and any other relevant paperwork. Having these documents readily available will help facilitate the transaction and provide transparency to potential buyers.

7. Develop a Marketing Strategy:

Effective marketing is essential for attracting potential buyers and maximizing the visibility of your property. Collaborate with your estate agent to create a comprehensive marketing strategy that utilizes online platforms, social media, professional photography, virtual tours, and traditional advertising methods. By reaching a wide audience, you increase the chances of finding the right buyer for your property.

Conclusion:

Selling a property can be a complex and overwhelming process, but you don't have to navigate it alone. By partnering with a reputable estate agent, you can unlock the full potential of your property sale. An experienced agent will provide valuable insights, expert guidance, and a tailored marketing strategy to attract the right buyers and secure a successful sale.

With their knowledge of the local market and extensive network, a professional agent will ensure your property receives the exposure it deserves. From setting a competitive asking price to preparing your property for showings, they will handle the intricacies of the selling process, allowing you to focus on other important aspects of your life.

So, if you're ready to embark on this exciting journey of selling your property, reach out to us, your trusted estate agent. Our team of dedicated professionals is committed to delivering exceptional service, personalized attention, and outstanding results. Let us help you make a smooth transition to the next chapter of your life. Contact us today, and together we'll turn your property into a desirable and sought-after listing.

The Evolving Milton Keynes Property Market: A Haven of Opportunity

Wed, 24 May 2023 14:09:52 GMT

Introduction:

Welcome to Milton Keynes, a vibrant town in Buckinghamshire, England, renowned for its modern architecture, innovative design, and sustainable living. With its strategic location, excellent infrastructure, and abundant employment opportunities, Milton Keynes has become an attractive destination for property investors and homeowners alike. In this blog, we will explore the evolving Milton Keynes property market, highlighting its key features, growth factors, and the opportunities it presents for prospective buyers and investors.

1. Rising Property Prices:

Over the past decade, Milton Keynes has witnessed a steady increase in property prices, making it one of the fastest-growing property markets in the UK. The demand for housing, combined with limited supply, has resulted in a surge in property values. However, compared to nearby cities like London, the average property prices in Milton Keynes remain relatively affordable, making it an enticing option for first-time buyers and investors looking for value for their money.

2. Infrastructure and Connectivity:

Milton Keynes is renowned for its excellent infrastructure and connectivity, providing residents with easy access to major cities and transportation hubs. The town boasts exceptional road and rail links, with direct train services to London Euston taking just over 30 minutes. Moreover, its close proximity to major airports, such as Luton and Birmingham, further enhances its accessibility and attractiveness to both domestic and international investors.

3. Employment Opportunities:

One of the key factors driving the growth of the Milton Keynes property market is the abundance of employment opportunities. The town is home to numerous large corporations, including leading automotive, technology, and logistics companies. The presence of these industries has led to a strong job market and steady population growth, attracting young professionals and families seeking career advancement and a high standard of living.

4. Sustainable Living and Urban Design:

Milton Keynes stands out for its unique urban planning and sustainable living initiatives. The town was designed with careful consideration for green spaces, pedestrian-friendly walkways, and an integrated transportation system. With numerous parks, lakes, and nature reserves, Milton Keynes offers residents a balance between urban convenience and natural beauty. This emphasis on sustainable living makes it an appealing choice for those seeking a greener lifestyle and a healthy environment for their families.

5. Development and Regeneration Projects:

To accommodate the growing demand for housing, Milton Keynes has seen significant development and regeneration projects in recent years. The introduction of new residential areas, mixed-use developments, and urban renewal schemes has expanded the housing options available to buyers and investors. These initiatives not only provide a range of property types but also contribute to the overall improvement of the town's infrastructure and amenities.

6. Rental Market Potential:

For investors looking to enter the buy-to-let market, Milton Keynes offers promising prospects. The high demand for rental properties, driven by a growing population and a thriving job market, presents opportunities for rental income and capital appreciation. Additionally, the presence of the Open University and Cranfield University attracts many students, further fuelling the demand for rental properties in the area.

Conclusion:

The Milton Keynes property market continues to thrive, fuelled by its exceptional infrastructure, strong employment opportunities, and commitment to sustainable living. Whether you're a first-time buyer, a property investor, or someone seeking a modern and vibrant place to call home, Milton Keynes offers a range of options to suit your needs. With its rising property prices and potential for growth, now is an opportune time to explore the property market in this dynamic and evolving city.

Home Upgrades to Add Value

keval@agestateagents.co.uk (Keval Gudka) — Wed, 17 May 2023 12:11:38 GMT

It’s hard, isn’t it? Estimating future capital gains on property upgrades. An upgrade could be anything from adding an electric car charging point or carrying out a loft conversion. But by how much will my property appreciate by because of the upgrades? What are buyers looking for now?

Whilst many homes in Milton Keynes will have a ceiling value for their street, there are some things that can be done that will add value. In the first instance however, I tend to always look at low-cost simple jobs which include cleaning, tidying, de-cluttering to highlight the space available. Repainting can be inexpensive but can provide a great return in terms of selling price and speed of sale.

Let’s take a quick look at a fewer bigger ticket items that can be done to add value to your home:

Full Redecoration:

Average Cost £2,975

Added Value £8,913

200% increase

Giving your entire home a fresh coat of paint is generally the most common advice given to potential home sellers. It gives your home a new lease of life especially if you’ve had water leaks in the past leaving unsightly yellow or brown marks on your walls and ceilings. It’s also one job that may provide the best return on your money!

Electrical car charging point

Average cost £1,000

Added Value £4,888

388% increase

We do often get people looking for electrical vehicle charging points when viewing homes, however not everyone has an electric vehicle and so I would question the value-added figure of £4,888. To a buyer that has an electric car, this certainly would be a huge bonus point, but in my view not a deal breaker.

Garden Office:

Average cost £9,500

Added Value £21,563

127% increase

You could be doubling your money with a garden office! We are now seeing more and more buyers looking for additional space for an office and a garden office tends to be well sought after. Especially as more people are now working from home. Whilst having a garden office will certainly make your property more appealing and help the sale ability of it, the value of the office doubling is something I would take with a pinch of salt.

Loft Conversion:

Average Cost £37,500

Added Value £43,126

15% increase

If you need the space either for another bedroom or office and plan to stay in the property long term, then this maybe well worth doing. However could it also be cheaper and better to move?

Solar Panels:

Average Cost £5,875

Added Value £11,500

95% increase

In this high inflationary environment, we all want to save money on our energy bills and the trend of solar panels is certainly here to stay! However, does it add value? Personally, I don’t feel many buyers take this into consideration when buying a home, although it would be a good bonus point. If you’re going to add solar panels, then do it for you!

Garage Conversation:

Average Cost £13,750

Added Value £28,751

109% increase

Many people want and need the extra space, so a converting a garage can prove to invaluable and could save you from moving. However, there are also plenty of people who like having a garage for storage or to keep a nice car away from the elements. Like many of the above points, it maybe best to convert the garage for you rather than for any potential buyers.

Utility Room:

Average Costs £8,100

Added Value £14,375

77.4% increase

Would you rather spend £8,100 on a utility room or redoing the kitchen for the same money? I know what I would do! If you’re looking to sell your home then our advice would be spending the money upgrading the kitchen instead, this could be as simple as changing handles, worktops to a full refurbishment.

Kitchen Upgrade:

Average Costs £10,550

Added Value £15,813

50% increase

A new kitchen would on average cost £10,550, however this would very much be dependant on the number of units and how much of a high-end finish you desired. If your kitchen is over 15 years old and really showing, it’s age then it maybe worth considering renewing the kitchen. Especially if your homes target market is first time buyers. On the other hand, potential buyers maybe looking for a project to put their own stamp on. A view would need to be taken on a case-by-case basis.

There you have it. A list of big-ticket items that research shows could increase the value of your home. I personally feel many of the suggestions should be done if you’re looking to stay in the property for the long term and to do it for you rather than any potentially buyers. If you’re looking to sell your property on the other hand, then there are many smaller cost effective upgrades such as repainting which may yield you a much better return.

My name is Keval Gudka, you can call me on 0208 614 0740 or email me at keval@agestateagents.co.uk .

Thanks for reading.

Keval

Is Your Milton Keynes Home Priced Correctly to Sell?

Fri, 24 Mar 2023 15:08:07 GMT

Property pricing. A sensitive subject for sure, especially in our current economic climate.

You may have heard many stories from home owners and agents telling you about the heated property market from late 2020 to early 2022. With buyers literally lined up outside homes eagerly waiting to view properties and entering into bidding wars by paying over the asking price just to secure their dream homes or investments. It was for sure a sellers’ market and to a certain degree it still is, however, the market appears to be transitioning into the opposite. Mortgage rates have at least doubled since 2020, we’re now in a high inflationary environment pushing up the cost of living and the average persons disposable incomes are dwindling.

This is important to understand if you really do want to sell your home. Whilst there are still plenty of motivated buyers and sellers in the market place, we have found people are paying more and more attention to their finances and the sustainability of owning a home. Plenty of market reports from Halifax, Nationwide and many other credible sources say property price growth has certainly stalled if not negative in certain parts of the country. However, I’ve seen a lot of homeowners still pricing their homes as if the market is still on the rise!

Understanding local market conditions and pricing realistically are essential to achieve a sale. Zoopla report that while 59% of listings in February had no price reductions, four in ten did.

8-14 days is the optimum listing duration for agents to achieve the best possible price for your home, according to research of over 6,500 agents by HomeOwners Alliance. A listing that is too short may not give enough time for potential buyers to discover the property and make an offer; if a property remains on the marker buyers may fear it is overpriced.

The latest survey by RICS indicates that the average sale is currently being agreed within a 5% margin of asking price.

Our Advice:

We urge all home owners looking to list their property for sale to be realistic about their expectations on what price can be achieved. Do not always go with an agent that gives you an absurd high valuation and the lowest fee. They’re likely to be telling you what you want to hear rather than what you should hear! Alternatively, be sure to ask that agent how they came up with that valuation and what are the foundations of what they’re telling you. A reputable agent should give you good comparables and clearly explain why their valuation has any substance.

Pricing sensitivity is becoming increasingly evident in the property market, understanding local conditions and pricing realistically are essential to achieve a sale. At AG Estate Agents we take market research very seriously. If you’ve seen any of our past blogs or quarterly market updates about the Furzton and Milton Keynes Property market, you’ll know.

My name is Keval Gudka. At AG Estate Agents we love to talk about property and Milton Keynes. We give bespoke marketing advice as well as thoroughly researched valuations. If you would like to sell your home faster and for the best price, can we talk?

You can email me a t keval@agestateagents.co.uk or speak t o me on 0208 614 0740.

Thanks for reading.

Keval

Are you ready to sell your Milton Keynes Home this Spring?

keval@agestateagents.co.uk (Keval Gudka) — Fri, 24 Mar 2023 13:45:40 GMT

Mid-March marks the start of spring, the clocks will soon go forward, the days will be longer and blue skies should be more consistently visible once again! Furthermore, this time of year has long been acknowledged as the best time to sell your home.

Rightmove reports demand levels are currently 6% higher than in 2019, and with the Easter Holidays just a few weeks away, now is a great time to get your property listed to sell.

Many home movers seek to complete on a property in the summer months. With average conveyancing times of 12-16 weeks, that equates to having offers accepted in April or May. Everyone wants to move in the nicer weather so they can enjoy their new gardens and new surroundings with the sun shining!

What properties are currently in high demand?

Research conducted by Dataloft suggest that properties for sale in a ‘move in’ condition are currently highly sought after by buyers. More than one in three home movers are attracted by a recently fitted kitchen and or bathroom. With this in mind, if your home is in ‘move-in’ condition then be sure to highlight this fact in your marketing! If your home just needs a fresh coat of paint or some general DIY then our advice would be to have this done prior to marketing to ensure you achieve the best price possible for your property.

That being said there are still plenty of buyers who do like a project in order to make a property their ‘own’ so don’t feel apprehensive in listing your home if it does require work.

You can email me at keval@agestateagents.co.uk or speak to me on 0208 614 0740.

Thanks for reading.

Keval

Could downsizing be an opportunity for Furzton, Milton Keynes residents to save money?

Tue, 10 Jan 2023 13:23:40 GMT

Downsizing to a smaller home can be an opportunity for those looking to save money, and enjoy the equity freed from their home sale. The average difference between a 3+ bed house and a 2-bed flat in the UK is £161,728. Interestingly, the difference in Furzton between a 3+ bed house and a 2-bed house on average is just over £257,000! That’s significant equity which could be spent to help children on the property ladder, holidays, investments or however you desire!

What are the advantages of downsizing?

The main benefit of downsizing is easing the financial strain on your budget. If you’ve lived in your current home for a long time, it’s more than likely to have increased in value and you may be near to paying off your mortgage or you may have paid it off already.

Downsizing to a smaller property will likely give you lots of equity left over to use for whatever you wish. You could also buy your next home as a cash buyer, giving you greater options.

Smaller homes typically cost less to heat and to maintain, saving you further money and thus increasing your disposable income.

Downsizing isn’t for everyone; you may have become accustomed to the larger space or may even need a bigger home as the family grows. Whatever your situation is we’re here to guide you with your move.

Feel free to contact us for any further guidance.

What are Milton Keynes tenants looking for in rental properties?

Mon, 05 Dec 2022 13:01:05 GMT

Covid – 19 has changed many aspects of our daily lives and it seems most of the changes are here to stay. It’s our job to advise you how these changes affect the rental market and suggest ways you could change your strategy to suit accordingly.

One major change we’ve all likely become familiar with is more and more people working from home and employers also becoming more flexible to such ideas. Employees are happy to save on travel costs, childcare and generally having more flexibility. On the other hand, employers also benefit from lower overheads, and developing trust in their team to continue their work routines away from the office.

UK workers are going into the office an average of only 1.5 days a week. Also, a recent survey conducted by The Chartered Management Institute (CMI) said more than 80% of workers said their firms had adopted a hybrid model style of working. This essentially means, on average 70% of the working week is spent at home and thus tenants’ behaviour in choosing the ‘right’ home has changed compared to just a couple of years ago.

So how is this affecting tenant behaviour?

On inspections we are seeing more and more tenants making space in the home for computers and work desks to work from. Many have also made any spare bedrooms into offices. Furthermore, on viewings we’ve also noticed many tenants looking for additional reception / box rooms to use as an office. A survey conducted by The Property Academy said 53% of renters indicated that they would choose a rental property quicker if it was furnished to enable comfortable home working.

Our Suggestions:

If you’re marketing your property to let and you have additional space then lets highlight that fact! Ensure every potential tenant is aware of the extra space and its uses. Furthermore, you may want to consider providing some furniture. Additionally, if you’re refurbishing your property completely then you may also want to think about how you could increase the space available in rooms by altering the layout etc. Although this may be a bit extreme.

My name is Keval Gudka, thanks for reading the blog! If you’d like to chat about the Milton Keynes property market or about your own home, then feel free to get in touch.

What are Milton Keynes tenants searching for when it comes to rental properties?

Mon, 28 Nov 2022 15:38:12 GMT

The rental market is changing and its always good practice to know what today’s tenants are looking for when it comes to searching for rental properties.

Like most of us, tenants are worried. Especially with the rise in their energy costs, never mind the rise in rents too. As a result, more and more people are searching for properties where bills are included. 12 months ago, outside space and pet friendly properties were high on the priority list. Things have changed.

It’s important for landlords to recognise the changing trends in the market and cater accordingly. However, we understand that it would not always be feasible for landlords to include bills in the rent. But help can be given in other ways, making sure their home is energy efficient as possible, and highlighting this in your marketing.

Our advice to landlords now is to ensure your home is energy efficient. It is very likely that all rental properties will be legally required to have an EPC rating of C or above in 2025. Start making the improvements early?

If you’d like to chat about the Milton Keynes Property Market, please get in touch.

Keval

How energy efficient is your Milton Keynes home?

Mon, 28 Nov 2022 15:27:46 GMT

The increase in the cost of living, with energy bills in particular, taking a much larger chunk of our salaries each month are having an effect on the property market. For example, 78% of buyers now check the EPC of a property and 53% look for green credentials.

We’ve also seen a similar change in buyer and tenant behaviour. Five years ago, not many people even knew what an EPC was, but now it can be the first thing people look at. Furthermore, we have also seen an increase of questions around the energy efficiency of the property and if there’s any improvements they could potentially do.

This may also indicate why two thirds of those contemplating a new home purchase, said they are attracted by the energy efficiency and lower running costs of new builds.

Does it make sense that we should all now be looking at the energy efficiency of our homes? There are lots of great new energy efficient properties in Milton Keynes and some great ‘older’ ones too.

My suggestion is that if your “older” home has a good EPC rating then let’s highlight that fact! Make a point of showing off your EPC, ensure the EPC is visible on photos, videos, all marketing materials! Ensure your agent tells the potential buyer of any improvements made such as new windows, new boiler etc.

On the other hand, if your home isn’t as energy efficient, we suggest looking at the recommendations on your current EPC Report, or even better, carry out a fresh EPC assessment and have a discussion with the assessor. You would of course need to factor in costs for improvements and what the likely upside in sale price would be.

The housing market is changing. But by knowing what your buyers are looking for you’re better positioned to make sure your home fits their requirements!

There are still many people that don’t want to buy a new home, they’re often smaller and don’t always offer much outside space. They just want lower running costs.

My name is Keval Gudka, if you would like to chat about your property please get in touch. You can reach me on 0208 614 0740 or email me at keval@agestateagents.co.uk .

Source:

Property Academy Home Moving Trends Survey June 2022 (10,000+ responses)

Five reason you’re not receiving any offers on your property

Thu, 07 Jul 2022 15:24:21 GMT

Everyone says they love your home… so why hasn’t it sold?

You’ve gone through the gritty process of selecting an agent, putting your property on the market, and keeping your home pristine for viewings. A few weeks have now passed, you’ve had lots of viewings, but you’ve either had offers that haven’t met your expectations or none at all.

The phrases ‘we love your home, we’ll come back to you soon’ or ‘we have a few others to see next week, so we’ll come back to you’ may have now become very familiar and you’re left wondering, why isn’t my house selling?

In this blog, I’ll be giving you five of my quick fixes you could make to improve your chances of receiving the offer you’re looking for.

1) Marketing:

Perhaps either the wrong aspects of your house are being promoted or your home looks much bigger in photos compared to reality. Perhaps the house is next to a school or has no garden and this hasn’t been mentioned in the description at all. Your marketing materials should be flattering but not misrepresentative.

FIX : Check your marketing to ensure your property is presented well and accurately.

2) Estate Agent:

Perhaps your agent isn’t working smartly. They could be pushing everyone to view your home, without considering the buyers needs and not considering if your home is suitable for them or not. You can find you have lots of viewers who can’t afford your home or for whom your home just wouldn’t work.

FIX : Speak to your agent and ask them what they’re doing to filter any applicants and ensuring they only send relevant buyers to your home.

3) Viewing Feedback:

You maybe receiving feedback such ‘not for us’ or unclear feedback as to why the viewing didn’t turn into an offer. Being aware of any concerns or comments from viewers is highly important, particularly those you can do something about, like an unpopular carpet choice, or a maintenance issue. The sooner you know why they didn’t want to buy your home, the quicker you can improve your chances on the next viewer.

FIX : Speak to your agent and stress you’re looking for better feedback and suggestions as to what you could change in the house to encourage any offers.

4) Presentation:

If you’re succeeding in getting potential buyers through the door, but they don’t want to make an offer, this it stands to reason that they don’t like what they found on the viewing. This somewhat relates to the tip above; you need feedback to change certain things within the home.

Fix : If you’re not getting the correct feedback, you can also take a few minutes to look at your home from an outsider’s perspective, is there anything that would put you off from making an offer if you came to the see house for the first time?

5) Listing Price:

One of the biggest deterrents for offering on a property is the price. The housing market is now incredibly transparent, information on marketing and previous sold prices of similar properties is easily available online, so its important that properties are marketed at a realistic price. Nothing turns a buyer off quicker than a house that is perceived to be over-priced.

Fix : Check online how your home compares with other similar properties within the local area. If yours is substantially higher than the others, then you may need to look at amending your price accordingly. Speak to you agent and query the pricing strategy.

Having lots of viewings but no offers is a much easier problem to deal with than having no viewings. Now all you need to do is attract that one viewer who actually want to buy your house. If you’re in this situation, then we’d love to share with you some thoughts on why you might not have had a successful offer to far.

Five Reasons Your Property Isn’t Getting Many Viewings

Thu, 07 Jul 2022 15:20:57 GMT

You’ve chosen a reputable estate agent, followed your agent’s advice on how to prepare your property for sale and now have your property on the market, but you’ve either had no viewings or far less than anticipated. In this blog I’ll be giving you five of the common reasons as to why you may have had little interest on your property and give you practical advice for you to follow so you can start generating more viewings on your home.

1) Poor marketing:

Photos, floorplans, and good descriptions online are vital, as this will be the very first thing any potential purchasers see online. Review your listing on the agent’s website and any online portals they maybe advertising on. Ensure the photos on the listing are bright, sharp and that they show your property in a positive way. However, sometimes photos can be deceiving making rooms look bigger or smaller than they really are, and this is where having a floorplan comes in. A floorplan with measurements will give any potential purchasers a better idea of the layout and size of your home, allowing them to make a better decision and perhaps encourage them to make an enquiry for your property.

Fix : Ask your agent to retake photos, prepare a floor plan and amend the description if required.

2) No video tours or no video marketing online:

The world has changed since Covid 19 and video tours and video marketing on social media platforms have become increasingly important. More and more potential buyers are now requesting video tours before they arrange a physical viewing for a property, especially if they are not local.

Milton Keynes has become more attractive to home movers from London due to lower prices and more open spaces. So, it’s essential you and your agent cater for the wider market.

Fix : If your agent doesn’t have any video tours or any video marketing at all, then ask them why this is the case and if they are able to incorporate video into their marketing strategy.

3) Check the price:

One of the biggest deterrents for viewing a property is the price. The housing market is now incredibly transparent, information on marketing and previous sold prices of similar properties is easily available online, so its important that properties are marketed at a realistic price. Nothing turns a buyer off quicker than a house that is perceived to be over-priced.

4) How many viewings should you expect?

Your expectations should be realistic. Perhaps the market for your type of property simply takes longer than the average. As a proactive agent ourselves, we regularly monitor what comes onto the market, the average days to sell etc and have a good understanding of what types of properties are in higher demand.

Fix : Speak to your agent and ask what their experience is with your particular type of property and what you should realistically expect in terms of viewings etc.

5) Your estate agent not performing well?

This will be difficult to ascertain unless you’re in the agent’s office 24/7. In most cases your agent will want their commission on the sale and will be doing everything possible to secure a buyer for you. However, there are of course some instances where agents are not doing everything they can for you. One of the biggest indicators of this would be a lack of communication with you. They may just have put your property on the portals and waiting for the phone to ring and not coming back to you if there aren’t any enquiries.

Fix : Speak to your agent, ask them for property performance reports, so you can see how many people have viewed your listing, ask how many enquiries there has been etc.

How to prepare your house for viewings 3 Top Tips

Thu, 30 Jun 2022 16:33:57 GMT

You have your home listed for sale and your agent has advised you of potential buyers booked to see your home next week. Which leaves you wondering if there’s anything you should do to prepare your home for the viewings. In this blog you’ll find five quick tips you can implement relatively quickly to ensure you receive more offers and achieve the best price possible for your home!

1) First impressions:

Sounds simple but getting the first impression right can be complex. You want to ensure that your home gives the best first impressions possible from the outside as well as inside. Many potential buyers will do a ‘drive by viewing’ before they even enquire about a property and once inside your home, people will be looking from top to bottom of every room looking at the space available, smells and atmosphere. So, ensuring your home is well presented is crucial. Below you will find a brief to do list for both inside and outside your home.

To do list for outside the house:

Jet wash the driveway
Ensure any flowers or plants are looking their best
Repaint / varnish any old wooden window frames that may be looking tired
Repaint any wooden doors
Cut the lawn
Clear any weeds
Remove any unwanted objects
Place any dust bins out of view if possible or in a corner out of the way

To do list for inside the house:

Declutter by removing any unnecessary items
Clean the carpets / polish any wood floors
Remove any limescale or soap scum from taps / showers etc
Carry out any small DIY jobs that have been on your to do list for a while. Examples include, tightening any loose door handles and curtain poles, checking for mould on sealants and mould and replace if required.
Light any scented candles or diffusers to remove any odours
Clear away any clutter in bathrooms and kitchens, such as excess shampoo bottles etc.

Carrying out the above tasks before any viewings commence will ensure your home is presented at its best and leave a positive first impression for any potential buyers as it will lead them to think you have looked after your home, all of which will increase the chances of receiving an offer and achieving the best possible price for your home.

2) Be prepared for questions viewers may ask you:

If you’ll be present during viewings, then you’ll soon come to know that many potential buyers will like to ask you questions and its best to be prepared. Some of the typical questions buyers ask are:

How long you’ve lived at the property
What the neighbours are like
Why you’re selling the property
If there’s any maintenance issues with the property
If there’s been many people coming to see your home and if you’ve had any offers

3) On the day of the viewings:

If you’ve followed our above advice, then your home should be well prepared for viewings. However, there are still some things that you’ll need to consider on the day.

Keep any pets out of the house – whilst you might love your pets, there’s always a possibility that someone may feel differently, or may be allergic. For this reason, we recommend that you ask someone to look after your pet or take them out for a walk during viewings

Similarly, small children can be very distracting so try and see if someone can take them out or babysit them while you concentrate on showing people around.

Make sure every room is at a comfortable temperature.

Let the viewer walk into each room first so they get a feel for the size of the rooms without you standing in front of them.

Move your car off the driveway so potential buyers can park there. This may seem like a hassle, but is important as, many potential buyers might rate space to park highly on their list of requirements, so make it as easy as possible for them by moving your vehicle elsewhere if you can.

Top 5 Roads / Areas to buy a Family Home and live in Furzton, Milton Keynes

Mon, 09 May 2022 10:54:34 GMT

If you’re looking for a family home in Furzton, Milton Keynes, but unsure of what particular roads to consider then this blog is for you!

The list below consists of five roads where you can find great family homes in and some information about the property prices that you can expect to pay.

Countisbury, Furzton:

Countisbury comprises of a mixture of three and four bedroom detached houses. Living here in Countisbury is perfect for families, especially to those who love the outdoors, as you will find a children’s play area, greenery and a pathway leading up to Furzton Lake at the bottom of the road.

Number 11, a three bedroom detached house was the latest property to sell on this road back in January 2020 for £410,000.

There is a four bedroom detached house currently on the market for sale at the moment with Elevation Estate Agents for £725,000.

Selworthy, Furzton:

Selworthy is quite picturesque and certainly gives you a happy feeling walking down the road due to the various trees, open space and well maintained front gardens. Selworthy comprises of mostly four bedroom detached houses and bungalows.

Number 22, a four bedroom detached house was the latest property to sell here for £685,000 in December 2021.

There is currently a four bedroom bungalow on the market with Elevation estate agents for £725,000.

My best estimate for the average values of properties on the road today would be between £700,000 - £1m.

Pinkworthy, Furzton:

Pinkworthy comprises of mostly three or four bedroom detached houses, all built in 1995 & 1996 and originally sold for between £75,000 - £125,000.

Number 5, a four bedroom detached house is one of the latest property sold on Pinkworthy for £470,000 in January 2021.

If you were looking to either buy or sell a property on this road today then you can expect to pay or achieve around £600,000 depending on the specifications.

Holmewood, Furzton:

Holmewood comprises of Made up of three and four bedroom detached houses. All properties have a back garden, driveway to the front and generally a good size inside, all of which make for great family homes. You will also find similar properties on Grasscroft, Favell Drive, Braybrook Drive and Oakridge.

There were two properties sold on this road last year. Number 12 & 14, both four bedroom detached houses and sold for £420,000 and £470,000 respectively.

My best estimate for the average values for the properties in Holmewood today would be around £500,000 depending on the specifications.

Withycombe, Furzton:

Withycombe comprises of mostly three and four bedroom detached or semi detached houses.

Number 28, a three bedroom detached house was the latest property to sell on the road and sold for £333,000 in June 2021.

My best estimate for average property values for the road today would be between £350,000 - £400,000.

Best Roads / Areas to buy a Buy to Let Investment Property In Furzton, Milton Keynes.

Mon, 09 May 2022 06:55:48 GMT

If you’re looking for a buy to let investment property in Milton Keynes but unsure of what areas or roads you should consider purchasing in, then this blog is for you!

You’ll find five of my personal favourite roads within Furzton, Milton Keynes to purchase a buy to let property in.

But first, why buy a property in Furzton at all?

- Close to schools in Bletchley

- Furzton lake approx. within 1 to 20 minutes walk for Furzton residents

- Local shops

- Close to Milton Keynes Central Train Station

Now down to the list…

Favell Drive:

Favell Drive, is a relatively long road located in north east Furzton. Here, you will find 3 bedroom terrace and end terrace houses which generally come with an allocated garage, good size garden, living room and open plan kitchen diners.

They’re naturally suited for tenants who are families, so in theory, you should have longer tenancies and lower void periods.

Two similar properties sold last year, one for £270,000 and the other for £248,000.

This year we have seen similar properties come on the market in the range of £260,000 - £280,000.

Rental Value: Between £1,100 - £1250 PCM

Gross rental yield of approximately 5%

Side Note: You will find similar properties on Braybrooke Drive, Elmhurst close and Oakridge.

Windsford Hill:

Windsford Hill consists of two and three bedroom terrace, end terrace and semi detached houses.

There was two bedroom terrace house sold on the road June 2021 for £175,000 and a three bedroom house sold for £246,500 in January 2020.

Our best guess for values of properties on the road today is between £250,000 to £325,000 depending on the specifications.

Rental prices: £900 - £1,000 for two bedroom houses and around £1,200PCM for the three bedroom houses.

Gross rental yield of around 5%

Side Note: You will find similar properties in Parkside.

Wistmans:

Wistmans consists of two & three bedroom terrace, end terrace and semi detached houses.

Recent Sales:

Number 17, a two bedroom terrace which sold for £250,000 in July 2019.

Number 26, a 3 bed terrace house which sold for £290,000 in November 2020.

Our estimate for property values on this road today are between £275,000 - £325,000 for two bedroom houses and between £325,000 - £375,000 for the three bedroom houses.

Expected Rental: Two bedroom houses: £950 - £1,000 PCM. Three Bedroom houses: £1,200 - £1,350PCM

Gross rental yield of approx. 4%

Side Note: You will find similar properties in Redhuish Close

Perracombe, Furzton:

Perracombe consists of two and three bedroom terrace or semi detached houses.

Recent Sales:

Number 54, a three bedroom semi detached house sold for £337,000 in September 2021.

Todays Market:

Our estimate of the property values on this road as of today are:

Two bedroom house: £250,000 - £325,000. Three Bedroom House: £325,000 - £375,000

Rental:

£950 - £1025 for two beds and £1250 mark for the three bedroom properties.

Gross rental yield: between 4 - 5%

Simonsbath, Furzton:

Simonsbath consists of a mixture of properties, from 1 bedroom bungalows to 4 bedroom detached houses.

The latest property to sell here in Simonsbath was number 41, a two bedroom terrace house which sold for £174,000 in June 2019.

In todays market you can expect to pay anything upwards of £250,000 for the two bedroom houses and over £300k for the three bedroom houses.

Rental:

£950 + for two bedrooms and £1,250+ for three bedroom properties.

Feel free to contact us on 0208 614 0740 if we can be of any further assistance.

Disclaimer:

Please note the information given is just my opinion from experience and you should do your own further research.

The current rental values and property prices are just an estimate as of the 7 ^th of May 2022 and each property on the road will have a different value depending on their specifications.

How to prepare your property for letting & how to be compliant

Tue, 03 May 2022 18:05:23 GMT

Being a landlord can be a mind field and not knowing where to start with your property that you wish to let is a very common scenario many landlords face. In this blog you will find a lot of useful information to help you get started. Please bear in mind that a lot of the information you find below will relate to properties let under Assured Shorthold Tenancies to a single household and is not an exhaustive blog covering all aspects of property lettings.

1) Ensure you have all the relevant safety certificates in hand before you decorate or start marketing your property.

The safety certificates or actions you will need to take are:

Gas safety certificate: This must be performed by a Gas Safe engineer and the certificate must state all the gas appliances that have been tested and any relevant comments relating to the safety of the appliances. The most common appliances will be a gas boiler and a gas hob. The certificate will be valid for one year.
EICR (Electrical Installation Condition Report): This must be performed by a competent and qualified electrician. This exercise of carrying out an EICR will ensure all the electrics within the property are safe and highlight any hazards which must be rectified. An EICR is generally valid for up to five years.
EPC (Energy Performance Certificate): This report will advise on how energy efficient your property is and list any potentially recommendations to make your property more energy efficient. Your property must be band E or above to let your property.
Legionella Risk Assessment: This should be performed every two years by a competent person, to prevent or reduce the risk of any occupiers catching legionnaires disease.
Smoke Alarms to be fitted on every floor with any living accommodation & a carbon monoxide alarm in any room where a solid fuel is used. The landlord is responsible for ensuring all alarms are working on the commencement date of each new tenancy.
Check if you need either a selective or an additional license to let your property. You can find out if you need a license or not on your local authority’s website. Again, this is advisable to check before decorating etc as many of the licenses will have certain stipulations and requirements that your property must meet.
Ensure your property meets Housing Health and Safety Rating System (HHSRS) 2004 and the Homes (Fitness for Human Habitation) Act 2018.
Register with a recognised deposit scheme (My Deposits, TDS & Deposit Protection Scheme)

It’s very common to find remedial works are necessary following on from the above safety checks, especially on an older property that hasn’t been checked over for several years. So, it’s good practice to have all the certificates mentioned above in place before decorating. This way you won’t be in a position in having to drill wholes etc on any freshly painted walls and ceilings.

2) Decorate and prepare your property for your target market:

Once you have all the safety certificates etc mentioned above, it’s time to think about decorating and renovating your property, especially if no renovations have taken place in the last five to ten years. However, think about your target market before doing so and renovate accordingly.

Generally, it’s best to decorate in neutral colours such as white and look for modern designs for kitchens and bathrooms.

3) Insurance:

Insurance policies for rental properties are completely different to homeowner policies and getting the correct level of cover and type of policy is vital to ensure your asset is protected. You may also wish to take out a rent protection and legal expenses policy so you are covered for any potential rent arrears and eviction costs should the worst-case scenario transpire.

4) Gain the relevant consents:

If your property is leasehold, then you may need to obtain consent from the freeholder to sublet the property.
If you currently have a residential mortgage, then you will need to either gain consent to let from your lender or change to a buy to let mortgage product.

5) To Let furnished or Unfurnished?

This a question we get asked a lot by landlords and there are pros and cons for both situations. Those who are moving out of home for the first time will appreciate the lower costs associated with renting a fully furnished property. There are, however, greater numbers of long term renters now and many will have their own furniture. The biggest factor to consider when letting a property unfurnished or furnished is to look at your target market and what their requirements are likely to be. A small studio or one bedroom apartment for example will likely attract single people or couples who may be new to the area or moving out for the first time and may appreciate some furniture provided, on the other hand a three bedroom house would appeal more to a family and the requirements for furniture may not be as crucial.

If you decide to let your property furnished, then ensure all relevant pieces of furniture meet the Furniture and Furnishings (Fire) (Safety) Regulations 1988.

6) Decide if you will self-manage or appoint a reputable letting agent:

If you are confident, knowledgeable, and competent in sourcing new tenants and managing a tenancy yourself then you may wish to opt for the self-managed route and there are plenty of online agents which may be suitable for you. An online agent will help you advertise your property on the major portals, generate enquiries for your property and may also aid in tenant referencing, setting up a tenancy agreement and register the tenants deposit for an additional fee. However, in most cases, you will have to handle all the initial tenant enquiries, conduct viewings, and negotiate offers etc yourself.

On the other hand, if you’re new to the property investment world then you’re likely to be better off appointing an agent to handle the whole process for you as there are well over 100 pieces of legislation to comply with and the need to have a tenancy set up and overseen correctly has never been so important.

7) After you’ve agreed an offer with a tenant:

Once you’ve agreed an offer with a potential tenant you will need to:

Conduct a credit check, employment, and landlord reference on the tenants
Take a deposit from the tenants in line with the Tenant Fees Act
Register the tenants deposit with one of the three approved schemes
Prepare and sign a strong tenancy agreement
Issue all relevant paperwork to the tenant in line with the Deregulations Act 2015
Prepare and have the tenant sign a professional inventory
Check in the tenant
Make notes of opening and closing meter readings for utilities

8) Select the right letting agent:

If you have a property to let in Milton Keynes or London, then of course AG Estate Agents will be your first port of call! However, outside of these areas, you will need to consider the following about the letting agent you appoint:

If the agent is accredited through any professional bodies
Their level of insurance cover
What services they offer
Whether they will handle any of the legal aspects for you
How they will market your property for you
If they will conduct any property inspections for you
Their fees and charges
How they handle repairs and maintenance
Their reviews
They must have client money protection insurance in place
They must be registered either with the Property Ombudsman or the Property Redress Scheme

Having an excellent letting agent in place from the start can save you a lot of headaches later. So, ensure you choose the right agent by doing your own research.

Feel free to call us on 0208 614 0740 if you require any more information and we’ll be happy to assist.

How to Prepare Your House for Sale and Achieve the Highest Price: Ten Tips

Sat, 30 Apr 2022 10:22:09 GMT

In todays blog, you will find some useful hints and tips as to how you can prepare your home for sale and achieve the best price possible.

1) Declutter:

This is a common tip you will find in many other blogs from other agents because, it is so important. Potential buyers walking in and around your home will want to see the space available and imagine where their own furniture etc can be placed. Removing any unnecessary items helps to make your home feel and look bigger and minimise any distractions.

2) Curb Appeal:

Whilst many homeowners make an effort to tidy up their home inside, the exterior of the property including any gardens are often overlooked. Ensure the approach to the property is clean and tidy and cut any lawns in the front and back gardens. If the exterior is looking a little worn, then it’s worth considering painting the exterior walls including any wooden window frames and front doors. Carrying out the above tasks will help give the best first impressions to any potential buyers coming to see your home.

3) Smells:

Walking into a home with bad odours can be off putting to many purchasers right from the second they enter your home. Ensure your house is adequately ventilated and make use of any air fresheners or fragranced candles before any potential buyers come into your home. This will help make the viewing experience for any potential purchasers as enjoyable as possible.

4) Maintenance:

Having many broken items or small outstanding repairs can be off putting for many potential purchasers as it could give the impression your home needs much more ‘work’ to bring it up to standard and thus could also impact the final price you achieve.

Run a quick maintenance check on your home before marketing and carry out any of those small DIY jobs that have been put on hold for a while. Some examples include, replacing any light bulbs, tightening any loose door handles and fixing any loose curtain polls etc.

5) Property ‘Staging’:

Many buyers are often looking for a lifestyle as well as a home. Consider things like setting up a dinner table with napkins etc. Anything that can help your potential buyers spark their imagination and aid them to visualise what kind of lifestyle they could have is key. You’re setting the scene for them.

6) Organise Bedroom Wardrobes and Storage Cupboards:

Many buyers will be looking inside wardrobes and closets to see how much storage is available for them. You can help your buyers to feel they would have adequate storage by organising the inside of your wardrobes and storage cupboards and leaving them neat and tidy. Having cupboards full to the brim in an unorganised manner on the hand will leave buyers feeling there isn’t enough space and that all their possessions will need to be crammed in.

7) A Fresh Coat of Paint:

Giving your home a fresh coat of paint of a neutral colour such as white will make your home seem lighter and bigger. It will allow the potential buyers to imagine how they would adapt the rooms to their needs and allow them to move in easier without having to worry about painting the property before they move their furniture in.

8) Clean to Make your Home Sparkle

In addition to checking off the maintenance to do list, it’s vital to give your home a thorough clean until it sparkles. Remove any limescale, clean and repair any tile grout, polish any wooden floors etc. This will give anyone viewing your property the impression that the property has been well maintained and in good order.

9) Paperwork:

Now is a good time to ensure your paperwork is all in order and you have them all to hand. Solicitors will typically ask for the following throughout the conveyancing process and so it’s best to have them all ready:

Any FENSA certificates for new window installations
Any Gas safety certificates / boiler service records
Any Electrical certificates for electrical works you may have had carried out
Copies of leases if your property is a leasehold
Copies of any warranties / guarantees (appliances, new roofs, boilers etc)

10) Choose a good estate agent to sell your home:

You need to choose an agent that will not only achieve the best price for you but also be able to work with you and your goals. Have at least three agents conduct a valuation of your home. From this, you will be able to get a gut feeling as to which agent is right for you. Some examples of questions you should ask any agent valuing your home are:

How will you achieve the best price for our home?
What are your marketing strategies?
Do advertise on any portals?
Do your offer sole agency or multi agency contracts and how long for?
Why should we choose you over the agents in the town?

Feel free to contact us on 0208 614 0740 if you’d like any further information.

Living in Milton Keynes: 10 Interesting Facts About Milton Keynes

Mon, 14 Mar 2022 08:10:25 GMT

1) No one in Milton Keynes is ever more than half a mile away from a park

Milton Keynes is renowned for its open green spaces and the fact that you’re never more than half a mile away from a park and open space is great for parents wanting to take their children or pets out for some fun or individuals going for a leisurely stroll in a park.

2) Milton Keynes has five international airports within two hours by car

The airports are Luton, Gatwick, Stanstead, Birmingham, and Heathrow. Very handy if you’re a frequent traveller!

3) Milton Keynes is home to over 120 roundabouts!

Milton Keynes was one of 21 ‘New Towns’ constructed in the wake of the 1946 New Towns Act up to the 70s in response to a combination of wartime destruction and a burgeoning population.

Many of the architects/designers of that generation of new towns looked at the issues faced by existing towns and thought that there must be a better way of handling the traffic issues that were being caused by the growing number of private cars. Roundabouts were thought to be a solution and a number of new towns were designed with the intention that roundabouts would be the principle way of controlling traffic flow.

4) There are 15 lakes and 11 miles of canals in and around the town.

If you love the outdoors then it will be very difficult to be bored in Milton Keynes, especially on those sunny days! Wilen lake is probably the most popular lake in Milton Keynes, with an array of water sports in the summer months, peaceful walk trails around the lake. The ‘Peace Pagoda’ is also located just off Wilen Lake.

5) Majority of England and Wales is within six hours coach drive from Milton Keynes.

If you either love travelling around the country or your work needs you to be in different cities within England, then Milton Keynes is a great lactation for you.

6) The oldest domestic building in the area is Bird’s Cottage, in Broughton Road, Middleton, Milton Keynes and dates from the 14 ^th Century.

Dating from the 14th century, Birds Cottage is the oldest surviving house in the whole of the city and was built using a structure known as a cruck arch. This is a rare form of construction and only 130 such structures exist in England and Wales. Inside, the property would have originally been completely open. The Bird family, lived there from around 1742 until the mid-20th century.

7) Bradwell Windmill was built in the early 1800’s and has been restored as a working windmill.

The tower windmill was built using locally quarried limestone and it milled barley and wheat and provided a living for the families who subsequently owned the mill in the following decades. The mill closed in the 1876 as the industry was changing with more use of steam power. The windmill was restored in the late 1990’s at a cost of more than £150,000. In 2014, new windows and cap cladding were fitted, sails refurbished and additional machinery restored which brough the majority of the building back to life as a working windmill.

8) Wolverton was originally a new town established in 1838 by the London and Birmingham Railway to house its workforce.

The area was chosen because it sits roughly halfway between London and Birmingham. The nearby Grand Union Canal ensured that there was free movement of goods.

The Railway Company built the first terraces in the 1840s, neat redbrick terraced houses and shops that are still standing today. It also provided public buildings, some of which you can still see.

Historic accounts of Wolverton are often accompanied by photographs of hundreds of men in flat caps lining the Stratford Road as they left from the works. The works siren could be heard throughout the town and beyond to signal time for work, for lunch and for home.

9) The Point was the first multiplex cinema in Britain and opened in 1985.

Love going to the movies? Grab your popcorn and delve into the latest blockbuster movies at your leisure here!

10) There are over 343 kms of dedicated bridleways, footpaths, and cycle tracks in Milton Keynes.

If you don’t drive, then there’s nothing to fear, the vast amounts of footpaths, underpasses etc make it so easy to safely travel around the town!

Landlord & Tenant Repair & Maintenance Responsibilities Guide

Mon, 21 Feb 2022 14:00:31 GMT

Who is this guide for?

This guide is predominantly for landlords who are letting their properties on either an Assured or Assured Shorthold Tenancies as per the Housing Act 1988.

What will you find in this guide?

In this guide, you will find details of two laws that relate to repair obligations placed on landlords and tenants.

1) Section 11 Landlord and Tenant Act 1985:

This covers the landlord’s statutory repairing and maintaining obligations and applies to all residential tenancies for less than seven years. Under section 11, the landlord must keep the following in repair:

- The fabric and structure of the property

- The supply of services to the property including sanitaryware

- Supply of space heating and hot water

- Not to try to make the tenant repair the above

The fabric and structure of the property includes:

- Roof

- Walls

- Window frames and doors

- Ceilings

- Downpipes

- Guttering

- Fascia’s etc

The supply of services to the property, including sanitaryware:

This would encompass the:

- Electrical wiring

- Gas pipework

- Water pipes

- Waste pipes

Sanitaryware includes:

- Sinks

- Basins

- Baths

- Toilets

The standard of repair is covered by Section 11 (3) and is tempered by the age, character, locality and prospective life of the dwelling and the fact that the landlord need not rebuild or reinstate if the premises are destroyed or damaged by fire, flood etc.

Although the landlord is responsible for the repair and upkeep of installations for services, they are not responsible for appliances making use of those services, such as a cooker, television, or fridge, unless these were supplied by the landlord.

Landlords are not required to repair unless they have notice of the defect. It will normally be the tenant’s responsibility to notify the landlord of any problems. However, the landlord’s agent may also put the landlord on notice of any repairs needed after conducting routine inspections.

The obligation to repair on the landlord has been interpreted in court cases to mean to restore the property to its condition at the start of the lease, not to improve the property, although in many instances, repair will involve an element of improvement. The disrepair that the landlord is responsible for must be an actual physical defect in the property.

2) The Homes (Fitness for Human Habitation) Act 2018:

Requires that any property subject to a new tenancy on or after 20 March 2019, and for all tenancies on or after 20 March 2020, is fit for human habitation at the start of the tenancy and will be maintained in a fit condition throughout the tenancy.

In determining whether a property is fit for human habitation, the legislation requires a consideration of:

- Repair

- Stability

- Freedom from damp

- Internal arrangement

- Natural lighting

- Ventilation

- Water supply

- Drainage and sanitary conveniences

- Facilities for the preparation and cooking of food

- Disposal of waste water

- See more items on the Gov website link below.

The landlord is not required to comply with these fitness standards in certain situations, the main ones being where:

- The tenant has not used the property in a tenant like manner

- The property has been destroyed or damaged by natural disaster or fire

Tenants’ obligations:

As far as the tenant is concerned, their obligations are to:

- Use the premises in a tenant like manner

- Allow the landlord or landlord’s agent to inspect the state of repair, on giving 24 hours written notice

Section 11(6) of the Landlord & Tenant Act 1985 requires the tenant to allow the landlord or the landlord’s agent access to view the state of repair on giving 24 hours written notice.

Warren v Keen (1954)

The phrase ‘tenant like manner’ has been tested in the courts and was summed up by Lord Denning in this case, when he said

‘a tenant owes no duty to the landlord to keep premises in repair. The only duty of the tenant is to use the premises in a tenant like manner… he must do the little jobs about the place which a reasonable tenant would do. In addition, he must, of course, not damage the house, wilfully or negligently… But, apart from such things, if the house falls into disrepair through fair wear and tear or lapse of time, or for any reasons not caused by him, the tenant is not liable to repair it.’

Tenant’s remedies for disrepair:

Where a landlord has not carried out the repairing responsibilities under Section 11 of The Landlord & Tenant Act 1985 after due notice, it may be possible for the tenant to take action to remedy the situation. The possibilities are:

- Damages:

Damages are a common law remedy for breach of the lease between the landlord and the tenant

- Specific Performance:

Specific performance is an equitable remedy, but there is now a statutory provision (in Section 17 of the Landlord & Tenant Act 1985) allowing the court to compel the landlord to undertake the repairs required.

- Set Off:

Set-off is an equitable right that allows the tenant to do the repairs and then offset the cost against the rent due to the landlord. However, tenants should be certain that the repairs are the landlords responsibility and should given the landlord time to complete the repairs. It would probably also be prudent for the tenant to submit copies of estimates to the landlord before starting the work.

Feel free to call us on 0208 614 0740 for more information.

Milton Keynes Property Investment – Furzton Property Prices & Statistics

Wed, 09 Feb 2022 18:37:01 GMT

Furzton is a district in western Milton Keynes, in the civil parish of Shenley Brook End, Buckinghamshire. Furzton is home to The Church of the Servant King, Furzton Lake and a variety of local shops.

Furzton Lake:

Furzton Lake was created to act as a basin for flood waters during rainy spells and was constructed when the Furzton estate was being developed in the 1980s, and incorporated a disused, water-filled clay pit. The lake has matured into an easily accessible and peaceful oasis for local residents, office workers and wildlife. Easy access and good pathways make it a popular choice for joggers, cyclists and walkers.

Population & Economic Statistics of Furzton:

According to 2011 Census data the population of Furzton was 9,150. The population grew by 1,130 people between 2001 and 2011. This is a 14.2% increase, the 11 ^th fastest growth rate of all wards in Milton Keynes.

Furzton had a slightly younger age profile than the Milton Keynes average. It had a smaller percentage of the population in the older age groups. Just 8.9% of the population were aged 65+ compared with 11.1% in Milton Keynes.

5,220 people in the Furzton were economically active. This is 78.2% of the 16-74 year old population significantly higher than the Milton Keynes figure of 75.9%. The percentage of the population who were in employment is higher in Furzton compared with Milton Keynes as a whole. There were 280 unemployed people in Furzton which accounted for 4.2% of the population, lower than the Milton Keynes rate of 4.8%.

Housing Statistics of Furzton:

Properties in Furzton were built from the early 1980’s till approximately 2004.
The overall number of dwellings in Furzton grew from 3,390 in 2001 to 3,690 in 2011. This is an increase of 300 dwellings or 8%.
Overall 1,900 households in Furzton were owner occupied; this is 52.4% of dwellings, lower than the figure for Milton Keynes as a whole of 57.7%. There was a large decrease in the percentage of households living in owner occupied properties in Furzton from 55.8% to 52.4% in 2011.
Furzton had the highest percentage 14.3% of social rented properties excluding council rented of all wards in Milton Keynes. The percentage of households living in private rented accommodation in Furzton increased from 9.5% in 2001 to 17.1% in 2011.
Furzton had the same average household size as Milton Keynes as a whole. It had an average of 2.5 people per household compared with 2.5 in Milton Keynes.
38.4% of dwellings in the ward were detached, compared to 28.2% in Milton Keynes.

Property Prices:

Approximately 25 properties were sold in Furzton last year. Properties in Furzton had an overall average price of £389,340 over the last year. Overall, sold prices in Furzton over the last year were 12% up on the previous year and 35% up on the 2017 peak of £288,207.

The majority of sales in Furzton during the last year were detached properties, selling for an average price of £495,036, 3% up on the previous year. Semi-detached properties sold for an average of £278,833, up by 13% compared to the previous year, with terraced properties fetching £245,000, up by 3% compared to the previous year. Sales of flats in Furzton had an overall average price of £150,000 over the last year, up by 29% over the year.

If you would like more information about the Furzton & Milton Keynes property market, then feel free to contact us on 0208 614 0740.

Freehold Vs Leasehold Vs Common Hold Property. What do they mean?

Fri, 04 Feb 2022 14:02:36 GMT

If you’re looking to purchase a property then its vital for you to understand the differences between leasehold and freehold tenures, as each will have significant implications for you as a homeowner.

Estates & Interests in Land:

An estate in land relates to the right and interests a person has over a parcel of land. This stems from the fact that technically and historically all land belongs to the crown, and an induvial or company can purchase the benefits and rights of occupation of the land. In more recent times, legislation was introduced to simplify and formalise the way that land was held. The major legislation was the Law of Property Act 1925.

The legislation set out that land could be held in one of two ways, freehold or leasehold. The way land is held is referred to as ‘tenure’ from the French verb ‘tenir’ meaning ‘to hold’

Freehold:

This is known as ‘fee simple absolute in possession’, broken down this way:

Fee Simple – This means that the ownership will not end with the death of the owner, but can be inherited and is available to the heirs
Absolute – Means that there are no conditions attached to ownership
In Possession – Means that there is the immediate right to occupy or collect the rent
A more common and simple explanation of Freehold is:
Someone who owns the freehold of a property owns the property and the land it stands on, for an unlimited period.

As a freeholder, you are responsible for looking after everything with the property, from your possessions inside, to the walls, roof, and the buildings’ structure. As a result, if you want to make any changes to the structure of the property, such as adding an extension, then you are free to do so if you have the necessary planning permission from the local council.

Leasehold:

This is referred to as a ‘term of years absolute’ arising out of a freehold or an existing leasehold and denotes the right for someone to occupy the premises or land over a set and pre-agreed term. It could be described as buying a right to exclusive possession of a property or land for a stated period. This can be known as a ‘shrinking or diminishing asset’ since the value reduces as the available term reduces.

The majority of leasehold properties in many areas are flats which are bound to terms contained in a common head lease. However, in some parts of the country some houses are sold on a ‘virtual freehold’ with a long lease of 99, 125 or 999 years. This is often done so that obligations can be placed on the leaseholder regarding the upkeep of the exterior of the property, or communal walkways or gardens.

Unlike a freeholder, as a leaseholder you own the property but not the land on which it is built – that is owned by the freeholder.

As a leaseholder you will generally have a contract with the freeholder of your property, which sets out exactly what you as the leaseholder are responsible for. There are likely to be certain annual costs you will be required to pay, such as ground rent and service charges.

You will also likely need to obtain permission from the freeholder if you want to carry out any major works to the property. There are also likely to be limitations associated with ownership, for example not being able to keep pets or rent the property.

Commonhold:

This is a relatively new concept and arose from the Commonhold and Leasehold Reform Act 2002, on which the basis is that individual flats in a building or block of flats are individually wholly owned, and the common areas are jointly owned, i.e., the freehold is shared. This has the benefit of there being no fixed term of a lease which will decrease in value over time, but rules of living are established via a community statement rather than covenants in a head lease.

Pros and cons of leasehold:

The benefit of a leasehold property is that you are generally not responsible for repairs of the outside of buildings and communal areas such as the roof or hallways. The freeholder will be responsible for carrying out such repairs or maintenance.

However, leaseholders will have to usually pay a maintenance charge and ground rent to cover costs for maintenance and buildings insurance. Furthermore, the lower the lease length remaining will have a negative impact on either the sale ability of the property or increased costs in extending the lease.

Pros and cons of Freehold:

As a freeholder you own the property and the land it’s built on, you generally won’t have any service charges, no worries about the lease expiring and have complete control over your own home. On the other hand, you will be responsible for all repairs.

Overall, there are advantages and disadvantages to owning either a freehold or leasehold property. When purchasing a leasehold property, the most important thing to check would be how many years are remaining on the lease (anything over 125 years is desirable) and what the ongoing costs are.

Feel free to contact us if you would like any more assistance in either purchasing or selling a property on 0208 614 0740.

Milton Keynes Property Investment: History, Present & Future of Milton Keynes

Thu, 27 Jan 2022 13:17:41 GMT

If you’re currently looking to purchase a property in Milton Keynes to either live in yourself or as a buy to let investment, then you may be interested in how, why, and when the town was first developed as well as what the future holds for the town. In this blog we will be exploring exactly that.

When, how and why was Milton Keynes developed?

To ease housing shortages in London, Milton Keynes was officially born in 1967 through an Act of Parliament, when the Minister of Housing and Local Government decided to designate approximately 22,000 acres in the Buckinghamshire countryside to be used for the development of the new town. The designated area incorporated many of the existing villages. One of the villages was called Milton Keynes, from ‘middle-ton’ the middle town and ‘Keynes’ from the family that once owned the manor.

‘The Master Plan’

‘The Master Plan’ for Milton Keynes was aimed to balance housing and employment for a population of 250,000 people. ‘The Master Plan’ had specific goals such as:

A grid pattern of roads to separate homes from workplaces
A town centre containing a shopping centre, leisure facilities and offices
Park built along the valleys of the rivers
For each area of housing to contain a mixture of homes and facilities
Local shops and schools to be in a way that were accessible on foot and by car
Pathways, bridges, and underpasses to allow pedestrians and cyclists to travel around the town safely.

Milton Keynes Now:

The councils 2016 – 2031 Plan states that ‘The Borough is one of the fastest growing local authorities in the UK with a large, diverse and dynamic local economy with more jobs than resident workers, resulting in net in-commuting. It has one of the highest start-up rates for new businesses of any local authority and the Milton Keynes workforce is one of the most productive in the country. The majority of all Borough businesses, nearly 90% in 2015, are micro-businesses employing 9 employees or less. Milton Keynes has performed better than many other parts of the UK because it is dominated by the private sector, with around four private sector jobs to every one public sector job. Increases in private sector employment have driven the local economy forward, offsetting public sector job losses, and the overall number of jobs within the Borough has continued to grow. At £10.9 billion in 2015, the local economy is bigger than that of Northampton and Luton and approaching that of some of England’s major cities such as Leicester and Nottingham.’

The Future of Milton Keynes:

Milton Keynes Council have on several occasion attempted to make the town an official city and have again submitted a bid to be granted formal city status as part of Her Majesty The Queen’s platinum Jubilee Celebrations in 2022.

Milton Keynes council have said that ‘By 2031 Milton Keynes will be known internationally as a great city within a thriving rural hinterland. Its thriving knowledge-based economy, its first class lifelong education and training, its diverse population with their excellent, lively and varied culture, its sport and leisure opportunities, and its range of different, high quality places to live, together with the green, open and spacious layout and a transport system that makes its facilities easily accessible to all, will have enhanced its reputation as a pleasurable and exciting place to live, work, play and visit.’

House Building Plans:

As part of the councils plan for 2016 – 2031 the council intend to deliver land for a minimum of 26,500 net new homes within the Borough between 2016 and 2031, principally within and adjacent to the city as predictions are set for the population of the "metropolitan Milton Keynes city area", which includes settlements in the neighbouring local authority areas of South Northamptonshire, Aylesbury Vale and Central Bedfordshire, could rise from 315,000 to 500,000 by the year 2050.

Between the years of 2017 – 2020 alone, 5,342 homes have been built within Milton Keynes, of which 1,149 were affordable homes.

The Experian forecast in ‘The Milton Keynes Economic Growth and Employment Land Study’ states ‘From 2016 to 2031 the greatest increase in the number of jobs within the Borough is forecast to come from two key sectors Land Transport, Storage and Post (4,500 jobs) and Professional Services (4,400 jobs). The number of jobs is also forecast to grow in other sectors of the economy such as Accommodation & Food services, Administrative & Supportive Services, Computing and Finance. Jobs in Residential Care, Health and Education are also expected to increase. While no growth in the overall number of jobs in industry is forecast, some smaller sub-sectors of industry are likely to experience some growth locally.’

Milton Keynes Property Prices:

The average property price in Milton Keynes in January 2000 stood at just £73,465 and in November 2021 the average property price increased to £289,395, an increase of 294% over a twenty-year period. Property prices in Milton Keynes in November 2021 were £18,687 higher than the UK average.

If you would more information about the Milton Keynes housing market, then feel free to contact us on 0208 614 0740.

Is Milton Keynes A good Area to Invest in?

Wed, 09 Dec 2020 22:27:55 GMT

Choosing an area to invest in property can be daunting, challenging and confusing especially after digesting the various information you read and see online. In this blog we aim to simplify a lot of the information and give you some of the key reasons as to why buying property in Milton Keynes could prove to be an excellent investment.

First some background:

Milton Keynes was designated as a new town in the 1960’s when the UK Government decided that a further generation of new towns in the south east of England was needed to relieve housing congestion in London. The site was chosen specifically as it is equidistant from London, Birmingham, Leicester, Oxford and Cambridge. With the intention that it would become a major regional centre and be self-sustaining.

At the 2011 census the population of the Milton Keynes urban area, including Newport Pagnell and Woburn Sands, was 229,941 and the wider borough was 248,800, an increase in population of around 195,000 since 1961. According to Community Action MK, by mid-2015 the population was estimated at around 260,000. The Cities Outlook Report 2015 states, by Centre of Cities, Milton Keynes was the fastest growing city in the UK by population with an annual growth rate of 1.6%.

Why is Milton Keynes a good area to invest?

1) Fantastic Transport Links:

ROAD:

Milton Keynes is conveniently located close to major motorways and A rounds, such as, the M1, A5 & the A1, allowing commuters easy access to a number of nearby cities and towns such as Northampton, Coventry, Leicester, Birmingham, Luton and of course, London.

Furthermore, Milton Keynes Central Train Station offers a brilliant commute to London Euston in just 36 minutes.

AIR:

The nearest international airport is Luton Airport accessible by coach from MK Central Station. There is also a direct rail connection to Birmingham International Station for Birmingham Airport.

BUS:

Many long-distance coaches stop at Milton Keynes Coachway located besides the M1 at junction 14 of the M1.

2) Wide Open Green Spaces:

The planning phase of the town was ambitious and imagined a “forest city” and that vision was realised by planting a staggering 22 million trees and shrubs. Two fifths of Milton Keynes is open space with over 6,000 acres of parkland, rivers, lakes and woodland. The town is the perfect destination for days out enjoying water sports, archery, fishing, walking or horse riding with over 100 miles of pathways and bridleways in Milton Keynes.

3) Economy and Employment:

Rating company Experian, describe Milton Keynes as one of the leaders in a prospective economic recovery in November 2012. The Estates Gazette also placed Milton Keynes number one for office property growth outside the M25.

Milton Keynes excellent geographical location means it is home to several national and international companies, including the UK headquarters of Argos, Domino’s Pizza, Marshal Amplification, Mercedez Benz, Suzuki, Volkswagen, Audi Group, Rightmove and several others. There also huge distribution centres for major companies within Milton Keynes. John Lewis, AG Barr & Amazon to name a few.

Milton Keynes is also the number one location for start ups outside London and within the top ten for new patents registered.

The average salary in Milton Keynes is £31,022 per year. The most prominent industry of employment is distribution, retail, hotels and restaurants.

According to Adzuna, salaries in Milton Keynes have increased 6.9% year on year while the national annual change is 2.4%.

Milton Keynes has reasonably good employment rates with 74% of people who live in the region are in paid employment. A higher than average 48% of people work normal full-time hours of between 35 – 45 hour per week.

4) Investment

A 15-year partnership began in 2015. Recent large-scale buildings include The Pinnacle MK on Midsummer Boulevard and the Vizion development on Avebury Boulevard. The Network Rail National Centre has been built in Silbury Boulevard; this building occupies a large land area but only rises to the equivalent of six stories; a return towards the design of the original central Milton Keynes developments.

RegenerationMK is the Council’s programme that is focussing on providing the neighbourhoods with improved housing, public space and supporting and empowering communities through increased skills and access to employment.

Milton Keynes has the go ahead for an impressive new retail and leisure development. The work at Intu Milton Keynes is part of a 1.5bn development pipeline in the UK over the next 10 years by Intu.

5) Housing Stock & Tenure:

There are 96,521 dwellings within Milton Keynes, 16.6% of properties are flats, with houses making up 83.4% of housing stock. 63.4% of households own their own homes while 17.5% live in privately rented accommodation.

In the last five year there have been 5180 new private homes built across the Local/Unitary Authority of Milton Keynes, an average of 1036 per year.

Overview:

According to the Hometrack report, Milton Keynes is one of the top ten locations where prices are rising the fastest and it shows no signs of slowing down in 2020. As development starts on one of the most significant projects in a decade, which includes a boutique cinema, dining area, public spaces and new retail locations, central Milton Keynes is the first step in a wave of regeneration.

Commercially, Milton Keynes is mostly recognised for its IT and innovation performance. With the third highest number of business start-ups per 10,000 of the UK population and strong economic performance, Milton Keynes is a key member of the Fast Growth Cities group that has resulted in nearly 20% of its workforce joining the knowledge sector. It’s these advancements that are contributing to Milton Keynes rapid rise – the city is expected to double its population to 500,000 by 2050.

10 Tips for landlords & home owners to prepare their homes or rental properties for winter

Fri, 23 Oct 2020 16:20:47 GMT

Winter is generally always a time where we see a spike in the number of maintenance queries from home owners and tenants. It is the season for leaking roofs, burst pipes, and potentially expensive boiler problems and therefore now is the time to be proactive to ensure that either your own home or your rental properties are all in good order to minimise any issues over the coming months.

In this blog I’ll be giving you my top ten tips as to what actions you can take to be as pro active as possible.

1) Heating & Plumbing:

Boilers and heating systems being shut for the summer months can often cause blockages and waste building up throughout the plumbing systems and therefore boiler failure is one of the most common issue for home owners and landlords alike as the systems are switched back on and put to full use once again.

It is therefore, highly advisable to have your boiler serviced, conduct a health check on the plumbing throughout the property and bleed all of your radiators before the temperatures start to plummet. This will enable you to be assured that your boiler is working to the best of its ability as well as to identify and rectify any small issues now, which if left unattended could have the potential to cost you much more later on in addition to minimising any opportunities for the boiler breaking down when you or your tenants need it the most.

2) Make sure you & your tenants know where the mains stopcock is:

If the water pipes freezes, pressure can build up behind the blockage and cause them to burst. Although pipes bursting is a rare event, it is important for you and your tenants to know where the stopcock is in order to switch off the mains water supply in an emergency. The normal hiding place is under the kitchen sink and generally, the stopcock should be turned clockwise to cut supply.

3) Insulate your loft:

Loft insulation can make a real difference when it comes to preserving heat in your home. Even if you have insulation, it is worth checking it is up to standard.

4) Clean your gutters:

With autumn coming to an end, all the leaves falling off the trees and flying around with the wind often land in gutters. Overtime, this will lead to a build-up of debris and therefore giving your gutters a good clean is essential to ensure the gutters and downpipes can efficiently carry water away from your home. This prevents damp from getting into your walls, which can cause costly damage in the long run.

5) Bleed your radiators:

Bleeding a radiator is a simple but effective way to keep your property warm this winter. If your radiators feel cool at the top and hot at the bottom, it’s likely they need bleeding. Simply release any excess air with a radiator bleeding key and an old towel.

6) Clean & check your roof:

Cracked and missing roof tiles can cause problems if they aren’t dealt with before the winter weather sets in. Missing tiles are generally obvious and can be easily fixed. However, fractures tiles are trickier to spot. Cracked tiles tend to get worse during winter, especially around periods of frost and then all it takes is a sudden storm to cause an awful lot of damage.

7) Keep your heating on:

Once the temperatures hit freezing, pipes have the potential to freeze. Therefore, your tenants should never turn their heating completely off in the winter, even when they are away. Setting the temperature four to eight degrees lower than they would normally keep the heat should be enough to keep the pipes warm without making the boiler work too hard.

8) Digital thermostats:

Ensure all battery-operated thermostats either have a new battery at the beginning of the season or a spare battery is to hand. If the battery dies when it is cold, the tenants will have no heat and the pipes will have the potential to freeze.

9) Check for cracks and openings:

Another maintenance issue you should stay on top of before the temperatures drop is looking for cracks, crevices or holes around the perimeter of your property. The purpose of this is to prevent critters that are looking for a home in the winter from entering your property.

You will want to look for gaps around any pipes that are entering the property. You should also check for any gaps under entrance doors or garage doors. An adult mouse can slip through a gap as small as a quarter of an inch and a baby mouse can fit through even smaller holes.

10) Check seals on windows & doors:

If your tenants are feeling the chill from draughts in your home, sealing them is a quick, simple way to stay warm and save money. Check for draughts are around the edges of window frames, gaps under doors, and around the letterbox. Draught excluders are available online, which will block draughts between doors. For windows and other small gaps, just seal the openings to keep the cold out this winter.

For further help and advice feel free to contact us or consider subscribing to our monthly newsletter for more useful information.

How to choose a letting agent for your buy to let property?

Tue, 20 Oct 2020 07:29:03 GMT

When deciding whether to buy a product or service it’s often about weighing up the pro’s and con’s before committing to a purchase, for example you’d want to know whether that particular product or service is going to make your life easier or give you some other benefit in return. The ultimate question being whether that particular product or service provides good value for money for you and if you really need it? right?

With that in mind, the first question to ask yourself is, do I really need a letting agent? The answer all comes down to how much knowledge you have of the property market, how much time you have, your confidence levels and what you enjoy doing. If you’re a first-time landlord with little experience in letting properties then you will see great value of an excellent letting agent especially if they are managing the property for you, as they will effectively hold your hand throughout the entire process and ensure you’re kept on the right side of the law. On the other hand, if you have a wealth of experience and plenty of time, you may see little value in hiring an agent. There is however another aspect to consider, do you want to be a ‘landlord’ or a ‘passive investor’?

With all that in mind, should you decide to hire a letting agent then ensure you take the following into consideration:

1. Decide what you want your letting agent to do:

Before meeting any letting agents, think about what you actually want your agent to do and make this clear to the agents in your conversations to ensure you’re both singing off the same hymn sheet.

Getting the right tenants and setting up a tenancy correctly is absolutely crucial to minimise any disruption further down the line and so many landlords opt for a ‘Let Only’ service from agents. Typically, agents offering this service will market the property, conduct viewings, carry out reference checks, set up a tenancy agreement and other associated paperwork and then pass everything back over to you. This type of service is great for those who don’t want the hassle of dealing with initial tenant enquiries and are unsure of the legal requirements in setting up a tenancy correctly but have the time and knowledge in managing a tenancy from beginning to end.

For those who simply do not have the time to keep up to date with the ever-changing legislations or answering tenants phone calls at midnight tend to opt for a full management service. In this service, agents will typically conduct all of the above as well as collect and chase your rent each month, arrange any necessary repairs and keep you informed of any changing legal requirements.

2. Meet at least three different agents:

It is important to meet more than one agent in order to get a better understanding as to how the different agents operate, their level of fees and most importantly, what they are like. Having a letting agent should be considered as a long-term relation and so you want to ensure you are able to build that relationship and trust with your chosen agent.

3. Ensure the agent you choose is legally compliant by checking they are:

- Registered with a property redress scheme, such as the Property Ombudsman

- Hold valid client money protection insurance

- Hold valid professional indemnity insurance

- Registered with the ICO

- Registered with an approved deposits company

4. Don’t choose the agent that gives you lowest fee with the highest property value:

In such a competitive market place, some agents have unfortunately gone down the route of telling property owners what they want to hear in terms of their property value and offering the cheapest fee, rather than competing on offering the best service possible. With such agents you will often find that either their service won’t be as good as others or that the agent will be on the on phone to you every week asking you to reduce the marketing price as they still haven’t let the property, giving you a longer void period between tenancies.

Furthermore, cheap fees may offer a short-term gain which lead to long term woes. It is far more important that the agent you appoint have the skills and experience necessary to find you the right tenants, keep them happy and keep your rental income flowing.

5. Review the agent and ask for recommendations:

Go to the agent’s website, Facebook and Google pages and read their reviews from other clients. Do those reviews reflect the type of service you’re looking for? Furthermore, check how they are presenting their other client’s properties online. Do they have professional photos and enticing descriptions of their existing properties? Would you like your property to be advertised in a similar style? Have they let any properties with a similar specification to yours recently?

Not only is it crucial to know how they are treating their existing clients, but also investigate how well they know the local market. Do they have any statistics or information about the local market on their website or social media channels? Researching this should tell you how well they know the property market.

6. Make sure you’ll be able to contact them:

Many agents will only be open from 9am – 5pm, Monday to Friday and therefore can be frustrating if you or your tenant wanted to make contact out of these hours. Check whether anyone from the agency will be available outside of the traditional working hours to speak to with and if the tenants will be provided with a contact number in the event of an emergency.

Pay special attention to how fast a letting agent returns your call when you’re making enquiries about their services. If a letting agent takes forever to get back to you when you are thinking of using them, imagine how slow they’ll be when you have a problem!

It’s also worth finding out whether other forms of communication would be possible to communicate with the agent. Can they be reached via Whatsapp or text? Or only landline or email?

7. Check how your letting agent keeps up to date with legal changes:

As landlords and agents are being fined on a regular basis for not abiding by the law it is important that your agent is kept abreast of the latest legal changes so that they in turn, can protect you. Check if your prospective agent is a member of any professional bodies such as the NLA, ARLA or RICS for example, who regularly update their members on any changes.

8. Ask the agent what other fees you are expected to pay & read their terms of business:

Ask the agent for their terms of business at the earliest opportunity and make sure you read it! Their terms of business will set out exactly who is responsible for what and what other fees are payable and when they need to be paid. Take into consideration the other admin fees in addition to their tenant find or management fee as sometimes these extra charges can be costly.

Other important aspects such as termination clauses will be found in their terms of business which will be crucial to know should the relationship between you and the agent break down in the future.

9. How do they manage repairs and maintenance?

How often do they carry out inspections? Will they provide reports to you after each inspection? Do they have reputable tradesmen in the area?

10. Call us on 0208 614 0740 for further help and advice.