Good Landlording

著者： Suzanne Smith and Richard Jackson
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  • A weekly podcast co-hosted by Suzanne Smith and Richard Jackson, who discuss practical tips to help you start, grow and succeed as a landlord in England
    © 2024 Good Landlording
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  • #20: Why interior design is important for landlords, with guest Charlotte Richardson

    #20: Why interior design is important for landlords, with guest Charlotte Richardson
    2024/08/07
    For our first summer special episode of Good Landlording, Richard Jackson and Suzanne Smith pick the brain of landlord and interior designer, Charlotte Richardson, about how good interior design can benefit both landlords and renters alike. As always, it's a practical episode, with lots of actionable tips to help landlords use interior design to help them attract and keep good tenants. >> Ask a question: Click here for question form What we cover in this episodeIntroduction to our guest: Charlotte Richardson of roostInterior design tips for landlords1. See the vision at the start2. Meet the needs of your target market3. Choose quality items4. Maximise the layout5. Flooring recommendations7. Invest in good lighting8. Inexpensive upgrades9. Good choices for paint coloursHow to choose an interior designerGolden nuggetCredits Introduction to our guest: Charlotte Richardson of roost Our guest for this "summer special" episode on interior design for landlords is Charlotte Richardson, Co-founder and Creative Director of roost, the interior design company that specialises in helping landlords and property developers maximise returns and make tenants feel great in their homes. As well as being an interior designer, Charlotte is a landlord and a property investor, and a graphic designer by profession. She has a fantastic blog called the roost interior design blog on her website with lots of great tips. You can follower her account _roost_ on Instagram. Interior design tips for landlords 1. See the vision at the start Charlotte recommends that landlords ask at the start of the project for the interior designer to provide realistic CGI rendering of what the space will look like after the project is complete. CGI rendering is a computer generated 3D visualisation which can help the property investor and the contractor visualise what the space will look like, and avoid costly mistakes before any work is done. It sets the scene for how this project is going to develop. They can see it in a 3D model and 'walk' around the house of flat before anything is done. It's a lot easier to make changes to the layout and even the colour palette at this stage than later on. Realistic 3D visualisations can also help contractors avoid costly mistakes, as they can see what the vision is for the property, plan, and know what's expected. It can also help investors pre-sell the rooms and market the property before the work is finished. 2. Meet the needs of your target market It's important for landlords to understand their target market. This can help landlords make interior design decisions and take care about what the tenants need and value. It will reduce voids and help landlords obtain a good rent. For HMO landlords, the needs of NHS workers are different from administrative staff who like to work from home, manual workers or students. It affects how much communal space that they need, how much space people have in their rooms, what facilities they value. It's also really important to make sure the layout works. Families benefit from flexible living space as their children grow up, and lots of storage. >> Related episode: #1: What makes a good tenant? 3. Choose quality items Having the property in good condition is key. This means choosing quality items that will wear well and last longer. For instance, use large tiles in the shower, which don't need as much grouting as smaller tiles, and will wear better. 4. Maximise the layout An interior designer can help landlords use the space effectively with an excellent layout. 5. Flooring recommendations The choice of flooring is important as it's expensive to replace a bad decision. Charlotte recommends tiles in the bathroom and LVT (Luxury vinyl tiles) in the communal areas as it's hard wearing and is good in areas where there is water, like a kitchen, as it's waterproof. They can be scratch resistant too. 7.
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    29 分
  • #19: Mid-year 2024 rental market update

    #19: Mid-year 2024 rental market update
    2024/07/31
    This episode of Good Landlording is the rental market update for mid-2024, and has the latest Q2 data for rent in England in the 12 months to June 2024. Richard and Suzanne also discuss inflation, the likely impact of population growth on demand, and prospects for future growth. As well as referring to data from ONS and Rightmove, they also talk about the findings in recent reports by Paragon Bank's Next Generation Landlord Report 2024 and Savills' UK Build to Rent Market Update – Q2 2024. For August, the Good Landlording podcast will have "summer specials" which will feature special guests on topics ranging from interior design to HMOs, supported living and buying at auction. It'll give us all a welcome break from politics, as well as introducing us to new ideas. >> Ask a question: Click here for question form What we cover in this episodeLatest inflation figures for Q2 2024Consumer price inflationWage inflationWhat's been happening to rent in 2024?What effect will the government building programme on the PRS?What do Savills say in their Q2 2024 report?Paragon Bank's research into motivations of new investors Latest inflation figures for Q2 2024 Consumer price inflation According to the ONS, the Consumer Prices Index increased by 2.0% in the 12 months to June 2024, the same as the 12 months to May 2024. However, when it comes to landlords, the Consumer Prices Index including owner occupiers' housing costs (CPIH) is more relevant. That rose by 2.8% in the 12 months to June 2024, unchanged from 12 months to May 2024. CPIH is more likely to reflect our costs as landlords, whereas CPI is what the tenant is feeling. Wage inflation ONS figures say that the annual growth in employees’ average regular earnings (excluding bonuses) was 5.7% in the 12 months to May 2024. This is an increase in real terms of 2.5%. However, this is just an average as wage inflation has been stronger in the public sector (6.4%) than the private sector (5.6%). Within the private sector, the finance and business services sector saw the largest annual regular growth rate at 6.7%; while the construction sector saw the smallest annual regular growth rate at 3.0%. Suzanne usually increase rents by the lower of CPIH and wage inflation, which she believes is a good compromise. >> Related episode: #6: What landlords need to know about rent What's been happening to rent in 2024? It can be difficult to figure out exactly what is happening to rent as the data is conflicting. However, rent is now no longer in double digit territory, and the rate of increase has been slowing down. Both Rightmove and the ONS agree that the average rent across is now around £1,300. Rightmove says it is £1,314 for new tenancies (an increase of 6.8%) across the UK, and the ONS has the figure as £1,310 in England, an increase of 8.6%. The ONS figure includes rents for exiting tenancies as well as new tenancies. Rightmove say the average rent in London was £2,661 at the end of Q2 2024, an increase in 4% from a year ago. ONS says that rents increased an average of 9.7% in London. In the North East, by contrast, the government data says that rent inflation in the 12 months to June 2024 was 5.9%, whereas Rightmove says it is 8.3%. According to SpareRoom, rents in London are flat (an increase of 1% in the 12 months to June 2024), with room rents in multiple postcodes decreasing. SW14 (Mortlake) saw the biggest drop of 9%, followed by W8 (Holland Park) and NW5 (Kentish Town) where rents decreased by 7%. What effect will the government building programme on the PRS? Government figures are predicting that the UK's population will grow from under 68 million now, to 70 million by mid-2026, and almost 74 million by 2036 (12 years away). The population is therefore projected to grow even more quickly than the government’s rather optimistic pledge to build 1.5 million homes by 2029,
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    15 分
  • #18: Renters’ Rights – Let’s talk about pets

    #18: Renters’ Rights – Let’s talk about pets
    2024/07/24
    This episode is on the hot and controversial topic of tenants' rights to have pets in rental properties, which is on the horizon again with Labour's new Renters' Rights Bill. Richard Jackson and Suzanne Smith discuss what this right to request a pet is likely to look like, specific examples of when it might be reasonable to refuse for both single lets and HMOs, flats and houses. They also coverthe steps that landlords can take to reduce the risk of damage and being left out of pocket when the tenants move out. >> Ask a question: Click here for question form What we cover in this episodeWhat does the new Renters Rights Bill say about pets?What are landlords' attitudes towards pets in rental properties?What was in the old Renters Reform Bill about pets?The benefits of allowing tenants to have petsWhen would it be reasonable to turn down a request for pets?1. Pets in flats / leasehold2. Allergies3. Pet not appropriate for the property4. Concerns about the welfare of the pet5. HMOsWhat can landlords do to reduce the risks of allowing pets?1. Have a good pet policy2. Make sure you're comfortable that the tenant will look after the pet properly3. Carry out regular inspections4. If it's a dog, ask to meet it!Can a landlord insist on a professional clean at end of tenancy?Golden nugget What does the new Renters Rights Bill say about pets? The briefing notes to the King's Speech say that the Renters' Rights Bill will give "tenants the right to request a pet, which landlords must consider and cannot unreasonably refuse. Landlords will be able to request insurance to cover potential damage from pets if needed". This is the same or very similar to the wording in the Renters Reform Bill. What are landlords' attitudes towards pets in rental properties? A poll of a few hundred landlords in The Independent Landlord Community Facebook private group shows there is no consensus in attitudes towards having pets in rental properties. Here are the results: 31% already pet friendly 12% would reluctantly accept pets 15% would rather not accept them 31% would not accept pets if at all possible to refuse 11% said it would depend on the circumstances Of those in the "it depends" camp, some would allow it for tenants who've been there for a while and have proven themselves, like a form of probation, showing they can look after the property. Others would charge more rent to reflect the increased risk as they can't ask for a bigger deposit. Bear in mind that the rent should not be above the market rent as that would mean the tenant could potentially successfully challenge a Section 13 rent increase notice in the First-tier Tribunal. What was in the old Renters Reform Bill about pets? Section 10 of the Renters Reform Bill, (which was abandoned before the election) included the right a tenant for to request permission to keep a pet. The landlord would not be able to refuse to give consent unless they had a good reason. The tenant had to make the request in writing and include a description of the pet for. The landlord needed to respond within a certain time period, and could ask the tenant to take out insurance that would cover the risk of pet damage, or require the tenant to pay the landlord's reasonable cost of maintaining insurance against pet damage. And if the renter is unhappy with the decision and thought that the landlord didn't have a good reason for turning down their request, they'd be able to complain to the private rented sector Landlord Ombudsman. The benefits of allowing tenants to have pets Tenants with pets will usually stay longer in the property, reducing voids. Pets also usually have a positive impact on the well-being and mental health of the tenants and their children. There is more demand for properties with pets, which makes the property easier to let. The landlord will usually be able to charge slightly more for the property.
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    26 分

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A weekly podcast co-hosted by Suzanne Smith and Richard Jackson, who discuss practical tips to help you start, grow and succeed as a landlord in England
© 2024 Good Landlording
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