Showing posts with label rental. Show all posts
Showing posts with label rental. Show all posts

Monday, 4 June 2018

Does your #investment comply with #EPC changes in time for your next void period? Ask #Spencer #Sheffield


Energy Efficiency Regulation Changes
The government has decided that tenants in low energy-rated rental properties spend significantly more on energy bills than those in high energy-rated properties. According to figures, over 33% of tenants are reportedly unable to afford their fuel costs, this rises to 45% for tenants in F/G rated properties. 
If your rental property already has an energy efficiency rating of E or above, then you are already compliant and can relax FOR NOW.   If not then you need to start to think about what changes you need to make to improve your properties energy efficiency rating.
From 1st April this year ALL rental properties with new tenancy agreements signed MUST have an EPC rating of at least an E, if you already have a tenant living in your property before this time who is happy to continue without signing a new tenancy agreement then you are safe FOR NOW.    These regulations will be extended to landlords of existing tenancies whether a new tenancy agreement is signed or not by 2020.
Image result for epc

Things to do if you have a low rated EPC

1.       Check the recommendation section on your current EPC, this will advise you on what changes can be made to increase the rating. Some may be small others may be more expensive.  

2.       Speak to the assessor who did your original EPC as they may have more in depth advice without spending too much money.

3.       Make the changes in plenty of time of your next void time and have a new EPC generated

4.       BE COMPLIANT to avoid fines of up to £5,000 PER property.


If you need help or advice please contact our team at Spencer so that we can help you make sure you comply before the next void period so that we help to mitigate any losses. 

Call Lynn, Emily, or Ash now on 0114 2683682 

www.spencersestateagents.co.uk 




Tuesday, 8 May 2018

Minimise Void Periods in #Rental #Property - #Blog by Emily from #Spencer #Sheffield


Tips to minimise void periods in rental properties


Usually when a tenant moves out of a rental property there is a short period of time when a property remains empty before the new tenant moves in, at Spencer we encourage this and usually suggest a week between tenancies. It can be a beneficial time to ensure the property is ready to be re-let by having any maintenance work and cleaning carried out so it’s in tip-top condition for new tenants.
However, this is not always the case and unfortunately some properties remain empty for a period of time. Every landlord should be trying to minimise the void periods where possible, because at the end of the day empty properties cost money. Whether it be through the mortgage, council tax, utility bills or service charge there is always some cost the landlord has to pay. 
There are a number of things that landlords and agents can do to ensure void periods (AND COSTS!) are kept to a minimum.
1)      Start marketing early
At Spencer we always contact our tenants at least 2 months before their move out date to find out their intentions at the end of the tenancy, we aim to advertise properties 6-8 weeks before the available date. This means that any prospective tenants looking for a new home have plenty of time to give notice on their current property.
2)      Renew contracts without delay – avoid periodic where possible
As mentioned above we always contact tenants 2 months before their vacating date to find out their intentions, this gives plenty of time to arrange any contract renewals. Where possible we advise landlords against periodic contracts as it means that tenants can give their one month notice at any time, if a tenant was to give notice in the winter months then it can be more difficult to re-let the property.
3)      Keep an eye on the property during tenancies
We recommend carrying out regular inspections on rental properties to ensure that they are being looked after by the tenants and that any maintenance issues are noticed and dealt with quickly & efficiently. At Spencer we carry out regular property inspections and provide our landlord with a full report and photos on the condition of the property.
4)      Keep the property in good condition
Once you have a good tenant in your property it’s important to keep it in good condition for them to want to stay, maintenance issues should be dealt with quickly & efficiently and we recommend being open and accommodating to reasonable tenant’s requests. Ongoing investment in the property especially in bathrooms and kitchens can also help secure tenants and always helps when re letting the property.
5)      Utilities – take meter readings!
As soon as a tenant vacates meter readings should be taken of all the utilities, this ensures that landlords aren’t paying for the previous tenant’s usage, it ensures the void period costs are kept to a minimum.  As part of the check-out process we take all meter readings to provide to landlords along with a detailed check out report.
6)      Expect a void period
The average void period in the UK per year is between 2 and 4 weeks, it is recommended to budget for one month per year to avoid any unexpected costs.
7)      Find good tenants – and keep them!!
The best way to minimise void periods is to avoid them completely!! Once you have the right tenant in your property, at Spencer we fully reference and credit check all our tenants and always ensure they are the best fit for your property. We then work constantly to ensure tenants are happy and keep them in your property! If you don’t believe us just check our 5* Facebook and Google reviews!
Whether you are a landlord letting your property for the first time or a landlord stuck with a vacant property, our focus and attention at Spencer will always be to provide you with practical and honest advice. If you need help re-letting your property please get in touch with our rental team. 

www.spencersestateagents.co.uk 

Monday, 19 March 2018

Tenant Fee Ban - #Blog by Lynn Braha of Spencer's Estate Agents #Sheffield S11


Agency fee ban!

Lynn Braha talks about the tenant reference fee ban that has been suggested. Lynn is a Senior Lettings Manager at Spencer, here on Ecclesall Road, Sheffield.

"How are things going to change you ask? 
I say for the worse. I’m not convinced this is going to help anyone. 

"The ban is meant to help people afford to rent in the private sector, or so they say but this is debatable. In my opinion part of the problem comes from local councils selling off the bulk of their housing stock and leaving them with less social housing stock for people on a low income. 

"The main suggestion to counter the fee ban is higher agency fees being charged to landlords for tenant finding and property management, in effect the landlords will pay the tenants agency fees instead, but this will no doubt encourage landlords to increase rents to cover this and so in the end it will be tenants who ultimately pay, as rents will go up overall and tenants could be having to pay what they cannot realistically afford.

"Landlords may also stop accepting people on housing benefit, as the rates will not cover the increased rents.  This will cause an increase in homelessness and so defeating the objective.

"Another suggestion is tenants will be expected to pay the whole tenancy rent in advance to reduce the risk to landlords again making it more difficult for people on a low income.

"How is this helping people in the long term, yes it will get them into a rented property initially but will they be able to afford to sustain it?

"In my opinion the fee ban is not the answer, a cap on these fees would have been a better solution.

"Maybe if the government had a register where agents can register bad tenants minimising the checks that agents need to do to reference potential tenants.

"Only time will tell if this idea is going to work, watch this space!"

If landlords want to talk to us about their investment property or properties we are happy to help. Call us on 0114 268 3682 or email rent@spencersestateagents.co.uk to arrange to meet up on Ecclesall Road. 

Wednesday, 27 December 2017

Looking for an #HMO in #Sheffield? Speak to #Spencer


What is an HMO?

Even in times of uncertainty, bricks and mortar are thought of as being a safe place to invest your hard earned cash, and that opinion doesn’t show any signs of changing in the current climate.

Over the past twenty four years we have experienced a fantastically high demand for investment properties with a HMO being THE most sought after type. HMO stands for ‘House of Multiple Occupation’ but to help confuse you there are different types of HMO. A standard HMO is a residential property of any type which is let to 3 or more unrelated people who share common facilities like a kitchen or bathroom.  There is then such a thing as a Licenced HMO which covers properties which are let to 5 or more unrelated people who share common facilities and is spread over 3 or more floors. What many people don’t realise is that you often need planning permission to create an HMO especially in densely populated areas. Councils use HMO licensing to improve the quality of housing and they give the steps you need to follow to run a legal HMO property that is safe for your tenants. These normally include details of minimum room sizes, the amenities needed and how to keep your tenants safe from fires. Each local council will use slightly different definitions so it’s important to know what they are and work with them to keep everybody happy.

Here in Sheffield the most popular locations for tenants wanting to live within a HMO property are fairly obvious being the areas closest to the Universities, Hospitals and City Centre. These are all areas that we here at Spencer will cover and generally speaking we will have a steady flow of available HMO properties to buy throughout the year.
If you are looking to invest in a property like this, would like some advice or have a property that you would like to sell, please call 0114 268 3682 and ask for Chris or Nicola to see how we can help. 

http://www.spencersestateagents.co.uk/

Tuesday, 19 December 2017

Property Market Forecast for 2018 - #Sheffield #EstateAgent #Blog

Property Market Forecast for 2018 

No one dare say the words “strong and stable” anymore in the same sentence but, if we were to, it would pretty much describe the current property market conditions in Sheffield. Over the last few years, the market has slowly limped towards Christmas with us hoping for little snow, and praying that the New Year would fast approach, whereas the end of 2017 saw a strong level of interest and a high level of property instructions right to the end of the year. There’s no doubt that the very top end of the market is still the slowest to move but with realistic expectations there are no reasons why it isn’t a good time to sell or buy.

We are yet to work out whether the stamp duty changes will make any real inroads to the first time buyer market but hopefully it helps to counter the interest rate increases, and we have been rather pleased to see that, although the press aren’t making too much noise about it, the Help to Buy scheme is definitely helping to make life easier for many.


In Sheffield, because prices are solid, we aren’t able to say that any one particular area is “up and coming” but there are many areas that are seeing good results in suburban districts particularly Walkley, Woodseats, Hillsborough, Meersbrook, and Abbeydale, where they may have, not so long ago, been quoted as the areas to buy for better value. The city centre is the one to watch in Sheffield though, and our only advice there is to BUY WISELY, there are many developments shooting up all aiming a similar markets so quality and position have to go hand in hand to ensure a decent long term investment. 

Please call us for any advice on 0114 268 3682

Monday, 18 December 2017

Christmas Greetings from Spencer! #openinghours #sheffield

Christmas Greetings from Spencer!



Although we will be closed for a few days over the Christmas period please continue to contact us as we will be open between Christmas & New Year for viewings and to agree a sale or two!


If you need us, our opening hours over Christmas are…


Saturday 23rd – Open 8.45am – 1pm
Christmas Eve – CLOSED
Christmas Day – CLOSED
Boxing Day – CLOSED

Wednesday 27th – Open 10am – 3pm
Thursday 28th – Open 10am – 3pm
Friday 29th – Open 10am – 3pm
Saturday 30th - Open 8.45am – 1pm
New Years Eve – CLOSED
New Years Day – CLOSED
Tuesday 2nd January – Open as usual


If you are one of our tenants we will be sending out an email confirming who to speak to in our absence.

Merry Christmas everyone!




Tuesday, 31 October 2017

Buy off market, market off market! Don't miss out! #Spencer #Sheffield #Estateagent


Are you missing out on properties by not talking to the local estate agents? 


We regularly speak to people who are gutted that they have missed out on a property and yet don't want to be put on our mailing list because they search Rightmove & Zoopla regularly or get alerts from them. 
What a mistake!
If you register with us not only do we send an email out to our applicants first when a house comes to market, we also send out a seasonal newsletter about the Sheffield housing market including houses which are coming soon and let people know about properties that are not being actively marketed online. Recently we dealt with a £1.5 million stunner of a house but we hadn't even taken the photos, let alone put it online, when it sold! This is because we know a handful of people looking for their perfect home at that price bracket so we called them, booked in viewings for them and then worked with the buyers, sellers & solicitors to get the sale through to exchange of contracts & completion.  
This isn't just the case for private buyers but for developers too. We regularly get calls from sellers of blocks of apartments, land, and tenanted properties that they want to sell without the hassle of tons of viewings... you could be missing out on a great investment opportunity if we don't already have your details. 
If you'd like to register, it takes two minutes to call and speak to one of the lovely members of the Spencer team to register your details and to be added to the mailing list so give us a call on 0114 2683682 in office hours or email your details to us at Sales@SpencersEstateAgents.co.uk and make sure you don't miss out on your dream home! 

Don't forget to check us out on social media, you'll be the first to know about new houses and lust over some amazing interiors too. 

Thursday, 27 July 2017

Renting can be scary - not with #Spencer of #Sheffield

Renting can be scary!

Here at Spencer we specialise in helping first time renters. It can be a very daunting moving into your first home or even moving from an owned property in to a rental property but we are here to help. We talk tenants through every step of the way making it as stress free and as clear as possible. We offer a ‘hand held’ service to anyone one who needs one.

Here are a few bits of information you may find helpful.

Once you have decided you are wanting to rent a property you now need to decide:
How long do you want the tenancy for? We usually suggest 6 or 12 months to start with (6 months being our minimum)
What can you afford? The letting agent or landlord should be able to advise what you can afford monthly based on what you earn.
Decide which area you would like to rent in
How many bedrooms?
Are you wanting it furnished or unfurnished?
Do you have pets?

Most letting agents insist that people view a property prior to taking an application and we are no different. We need to ensure you like the property and have seen it for your own eyes. We understand how important it is to be happy in your home and feel that if you are happy at home than you are able to deal with the rest!

Read up on who you are potentially going to be letting the property through and look out for landlords who belong to an accreditation scheme. You may find a fantastic property to rent however the letting agent or landlord could be dreadful and not look after you whilst you are in there. Always read reviews!

Check all fees before you agree to anything. Some companies have hidden fees for example: tenancy renewal agreement fees, check in and out fees.  By law, a breakdown of all fees should be clearly visible to you in the letting agent’s office and on their website.

Please ensure you have the correct documentation ready when applying for a property. Landlords and agents will want to confirm your identity, current and previous address, immigration status, credit history and employment status. They will want to see your passport and visa and /or residence permit (if you have one).  Also if you have bad credit history please declare it at this point so we can advise the best way to get you through the referencing.

Also check which government scheme your deposit will be registered with throughout the duration of the tenancy. This must be done by law and will protect you.

When moving in to a property please ensure you have from your landlord or letting agent (as a minimum):
Copy of the signed tenancy agreement
Copy of the most recent How to Rent Guide
Valid Gas Safety Certificate (if gas in the property)
Deposit protection information
Copy of the Energy Performance Certificate
A detailed inventory with photos. If you are not supplied with an inventory by the agent or landlord, please do your own inventory along with photos with dates and times on.  This is to protect you at the end of the tenancy.


Never be too scared to ask questions or query things you are unsure about.  Everything should be very clear for you to understand. If you wish to discuss renting any of our properties or would like us to rent out your property, please contact the office on 0114 2683682, email rent@spencersesateagents.co.uk or pop in to the office based on Ecclesall Road.

Zoe Addenbrooke - Pictured 

Thursday, 18 May 2017

EPC CHANGES FOR 2018 #Spencer #wearespencer #Sheffield #Property #Blog

EPC CHANGES FOR 2018

Image result for epcIf you are renting a property out you should be already be aware of the EPC (Energy Performance Certificate). Up until recently there has simply only been the need to have an EPC visible on a property to let it out and the tenant must be supplied with a copy on the move in date. However, as of 1st April 2018 there will need to be a minimum energy rating needed to rent out a property in the private sector.  As of this date, new lets and tenancy renewals must have a minimum energy performance rating of E. This will come into force for all existing tenancies on 1st April 2020.

Any Landlords who do not comply with this new rule should not rent out their property however if they do still proceed to tenant it with a rating below E the property would be deemed to be substandard and not fit to rent. Trading Standards could be able to impose a fine of up to £4,000. Due to this, we are encouraging our landlord’s to check their EPC readings now and get any works need doing asap so there is not a mad rush nearer to this date.  I am sure contractors will be very busy close to 1st April 2018. Some properties may only need a few little things doing to improve the reading while others may need substantial works.

There are various different methods that can improve the EPC readings. Firstly, the cheapest things to do are getting a smart metre for the property as accurate usage of energy used can help. Low energy lighting and light bulbs can also benefit this. It can be as simple as changing a light bulb. Have adjustable thermostats fitted on radiators to make sure you are not heating empty rooms unnecessarily. Most of a building’s heat is lost through poor sealing of doors, windows and through poor insulation in both the roof and walls. There are government backed incentive schemes to help reduce the cost. Renewing or adding if not already present, new window and door seals can eliminate drafts. Insulation in attics should always be installed or if already present, renewed and thickened.  Whilst it can be quite a big job having cavity wall insulation put in, it will significantly improve the EPC reading. Getting a new smaller more modern boiler can reduce energy bills as they are now made to run a lot more efficiently.
When the assessor goes to the property to carry out the EPC tell him all about the insulation you have had fitted, smart reader, new low energy light bulbs etc. Ask them to take in to account any changes and improvements made to a building since the last EPC. Don’t be afraid to tell them and show them as it will help with the reading.

Energy efficient properties with a better reading will have greater appeal to purchases and investors and this will show in pricing of properties. Therefore, if your property is on or below E on the energy rating we fully recommend you start making changes sooner rather than later.

If you need any further information regarding EPC’s or anything relating to renting your property out, please do call the office on 0114 2683682, email rent@spencersestateagents.co.uk or just pop in to the office at Spencer The Estate Agent 496 Ecclesall Road, Sheffield S11 8PP for a chat.



Saturday, 18 February 2017

Don’t let the damp drag you down



As the temperature fall during the winter months, we start to feel the cold more and this brings our attention to the damp and condensation issues that are lurking in our homes.
Condensation is perhaps the most common form of dampness that can appear in your property and can cause wallpaper to peel, damp patches to appear on walls and a build-up of moisture on your windows. Left untreated the condensation can create mould growth which can be potentially harmful and lead to serious health issues and breathing difficulties.
Mould spores are known allergens and have been attributed to being a trigger for asthma and allergies, dust allergy and hay fever. Fungal colonies also release ‘volites,’ a type of gas that’s associated with headaches, nausea and fatigue. If you believe your home is already suffering from damp or condensation problems, then you’ll need to get it sorted quickly.
The increased evidence of condensation in today’s buildings is the direct result of changes in modern living conditions, which have led to warmer and more comfortable rooms. These modern aids to home comfort have created rooms which are warmer but which often have less ventilation and fewer air changes.
As we spend more time indoors and make our property more energy efficient the build-up of moisture and humidity levels increase.

In fact, four people living in a 3-bedroom property would create 112 pints of moisture a week from just breathing, cooking, showering and boiling the kettle.




So how can you reduce condensation in your home?
1. Put lids on saucepans when you boil or steam vegetables
2. Use an extractor fan when you bath or shower or open the window for 5 minutes afterwards.
3. When cooking, boiling a kettle, taking a shower or bath, ensure that your kitchen or bathroom door are kept closed to prevent steam going into colder rooms which will cause condensation to form.
4. If you don’t have an extractor fan in your bathroom or kitchen, then make sure that you wipe down the surfaces in the bathroom and kitchen when you have been cooking or taking a shower to remove any moisture that has settled on the surface. This excess moisture that sits on the surface will quickly turn to mould which is difficult to completely remove.
5. Adequate ventilation is essential to allow the moisture to escape from a property before it turns into condensation. Installing an energy-efficient extractor fan in the kitchen and bathroom can improve the humidity levels and prevent condensation.





6. Don’t dry washing on radiators, use a clothes horse and put it in a room with an extractor fan.
7. If you have a washing machine or tumble dryer in your property, ensure that it is vented correctly. From just one load of washing two litres of water is emitted into the air.
8. Open doors on built in wardrobes on outside walls and try to avoid clothes and shoes from touching outside walls.
9. Do not overfill your bedroom wardrobes and kitchen cupboards. With lack of ventilation and trapped warm air your overfilled cupboards are a breeding ground for mould as the air is not able to circulate freely inside.
10. Consider buying a dehumidifier
11. Don’t block up any air bricks
12. Don’t let furniture touch outside walls: leave a small gap. Also try to put wardrobes against internal walls in your bedroom which will be less cold than external walls.
13. Warm up your house: Open curtains and blinds during the day to warm rooms up and to prevent moisture being trapped around the windows.


14. Keep gutters clear to make sure water does not spill down your walls
15. Don’t build patios above the damp course.
16. Portable gas bottles and paraffin heaters produce a lot of moisture, along with a lot of toxic fumes. Not only is this form of heat causing excess condensation in your property, it is also a health and safety hazard and is stated in most tenancy agreements as not allowed in rented flats.
17. If you use a room on a regular basis, such as a living room, open a window slightly to improve the ventilation in the room. Breathing is a major cause of condensation so this will help to improve the ventilation in your property.
8. Many families have house pets and plants which produce moisture. Make sure you cover fish tanks and if you are suffering from excess condensation look to move your plants outdoors.
19. Ensuring an adequate amount of heating in your property will improve the internal temperature of surfaces in the house and reduce the likelihood of condensation.
20. Double glazing, loft insulation and draft proofing will help to reduce the amount of heat that is lost from a property. Installing insulation will help to keep the temperature of the surfaces inside your property high.
   If you do have a damp house, just turning up your heating in the winter will not get rid of condensation. A damp house means damp air, and raising the heating thermostat will only heat up the wet air molecules, rather than raise the room temperature. A room will feel warmer if you are heating dry air.


If you constantly have to wipe condensation off your windows and have a dehumidifier running for lengthy periods of time, then you may want to think about whole house ventilation as a permanent solution to condensation and to improve the air quality indoors for your tenants or family.