Landlords, are you ready for the changes that this year will bring in Rickmansworth?

Although it may only feel like yesterday since you were packing away the last signs of Christmas, the months of the New Year are starting to run away.  And whilst you may have already set plans in motion for your rental properties at Trend & Thomas we want to ensure you have everything in place for what this year will bring.  When it comes to the private rental market, we have come to expect changes to legislation and regulations,  so we expect you’re already on top of where you need to be.  But just to be on the safe side, our team want to ensure that you’re ready for the changes that this year will bring in Rickmansworth.

Be one spark ahead

What is it they say? “To be forewarned is to be forearmed.” If you have works planned in any of your properties it may be worth bearing in mind that this year may see new electrical safety regulations implemented.  The government are seeking to bring electrical safety in line with the established regulations for gas safety.  If passed, the new laws will mean that from 1 July any new private residential tenancies will be required to have a qualified electrician sign off on all electrical wiring and fixed electrical installations.  This will also extend to any existing tenancies from 1 April next year.  We know that many of our landlords have already implemented this practice in order to provide an exceptional service to their tenants.  Whether the government pass this regulation or not, it may be worth thinking about being one spark ahead.

No more relief

If you’re an experienced landlord, the changes to the tax relief rules for landlords will be something you are very familiar with.  If you’re a new or accidental landlord, your understanding may not be as clear.  Since April 2017 there has been a phased reduction in the tax relief you are able to claim as a landlord, and this will continue until April.  As of the tax year 2020/21 you will no longer be able to claim any tax relief on your mortgage interest payments; instead, you will receive a tax credit of 20% on interest payments.  This has had a significant impact and we welcome your discussions on how we can work with you, our landlords, on a range of strategies to help mitigate the effects that this change has and will continue to bring.

Another relief that will have an effect on your Capital Gains Tax when you come to sell your property is Private Residence Relief.  Currently, you can claim Private Residence Relief for when you personally lived in the property before deciding to let it out, plus an additional 18 months.  Again, as of the new tax year in April, there will be a reduction in this relief allowing you to claim for just 9 months after you moved out of the property, as well as for the time it was your main residence.  As a result, you are losing 9 months of Private Residence Relief.

We know several of our landlords have decided to reduce or sell their portfolios as a result of these changes, but before you make a decision in haste, come and chat to our lettings team to discover what options are open to you.

Achieving the minimum standard

Have you undertaken an Energy Performance Certificate (EPC) on your properties in the last few years?  If this has been overlooked due to long-standing tenancies then you need to jump into action as soon as possible.  As a landlord, you have been required to achieve a minimum EPC rating of E on new tenancies and renewals since April 2018, and as of April this year this will extend to all existing tenancies.  This means that, regardless of if your property is due to have new tenants or not, to legally continue to rent your property it must have an EPC rating of an E or above.  We can have an Energy Performance Certificate carried out for you, please just give us a call.

If you are planning works on any of your properties in the next year or so it may be worth bearing in mind the widespread expectation that this minimum energy efficiency standard will increase to a D rating for 2025, and a C by 2030.  Therefore, it could be worth making changes while works are already being undertaken, rather than having to build in more void periods in the future to make the necessary changes to your properties.

Don’t be left behind

We are continuously helping our landlords to ensure that they and their properties remain compliant, no matter what the industry throws at us.  It can as times feel like you’re on your own as a landlord, but at Trend & Thomas we can assure you our team work tirelessly researching best practice and innovative strategies to see the continuing success of your portfolios.  Give our lettings team a call on 01923 713 680 and we can help you end 2020 on a high.

Give buyers the present they want this Christmas

The days are ticking by and as each one passes we are a step closer to jingle bells and the festive season.  With tinsel on the shop shelves and Christmas adverts filling our screens, it’s a reminder to to get ready before it’s upon us.  It doesn’t matter if you’re planning to place your home on the market now or at the beginning of the year, we have some great advice that will help you give buyers the present they want this Christmas.

Photo ready

You’ve decided to wait until after Christmas to place your home on the market in Rickmansworth & the surrounding areas but want to make sure you don’t miss the New Year rush.  You may or may not know that one of the busiest times on property portals is between Christmas and New Year.  As everyone is opening their presents and enjoying time with family and friends, millions of us are thinking about the future with a new home in our sights and scrolling through online property porn.

Having your home’s marketing material ready to launch for this period is essential – you don’t want to miss the opportunity to impress those eager buyers wishing to make a new start with a new home in 2020.  The sooner we can take your photos before you put up your decorations the better, this will allow your buyers to see those all-important key features of your home rather than being distracted by your stunning Christmas tree and singing reindeer.

Make room

We always advise that before you place your property on the market you consider decluttering your home, and there isn’t a better opportunity than at this time of year.  Your children’s rooms may be bursting with more toys than a store could hold, your cupboards spilling over with stuff you really don’t need, and a shed and attic that, honestly, you couldn’t say what’s in there.  And in a few weeks’ time, Father Christmas will be bringing a whole pile of new things for your family to enjoy – that’s if you’re on the nice list of course!

Who needs more stress at Christmas with trying to declutter just to make room for your new presents?  Why not put the hard work in now, so you can simply enjoy the season – it will also help you to stage your home for sale.

Less sparkle

It’s the most magical time of the year, but buyers are looking to buy your home, not Santa’s grotto.  This is why when it comes to staging your home at Christmas you need to think about your buyers without losing the sparkle of the season.  You know the main features of your home, keep any decorations in these areas minimal so they speak for themselves.  Paring back your décor will also make it easier to clean and tidy should a last minute viewing be requested.

Make a scene

When it comes to finding the house you want to buy, it’s a feeling.  Buying a property is an emotional experience and if your home can’t pull buyers’ heart strings at Christmas, then when will it?  Where possible, make sure your fire is lit for each viewing – whether electric or multi-fuel, the sight of a flame makes any room feel cosy.  No one wants to walk into a dark room, so make your decorated rooms feel magical with Christmas lights and lamps.  Make your bedrooms feel snug and warm with lamps and textured accessories, and if you want to pull out all the stops, bring your kitchen to life with seasonal scents.

Season to be jolly

With presents to buy, parties to attend and family to see, the next few weeks are certainly going to be hectic.  At Trend & Thomas we don’t want to add to your stress, but we also want to ensure that you never miss an opportunity to sell your home.  We undertake all viewings on your behalf, but there may be a viewing request that is on an evening or Sunday.  The more open you are to letting potential buyers view when they are free, the easier it will be to sell your home.  By working together we can hopefully give buyers the present they want this season.

Wishes and dreams

Even though you’re looking to sell, you’re also dreaming of a new home.  If you’re planning to stay in the area, we may be able to grant your wish.  Imagine being made aware of properties coming onto the market before they are advertised, and having a local estate agent proactively trying to find that house for you to make your next home? Well it’s the time of year where anything is possible.

Jingle all the way

There is no time to wait if you’re looking to move in 2020, give our sales team  a call on 01923 773 616 and let us help you jingle all the way to a sale.

 

4 Signs you’re breaking up with your Home!

No one likes a break up, but circumstances change and life can throw up some unexpected situations that make us rethink our future.  The passion you once felt for the home that has brought you such joy over the years has started to dwindle and now you’re seeing niggles and frustrations around every turn.  What are the signs you’re breaking up with your home?

1. Bored now

Some people thrive off change, they like to always be experiencing new things, which includes moving home.  Having taken the time to transform the property into the initial vision you had, you are now a little restless.  Yes, this house is stunning and fulfils your needs as you had wished it would, but while many would see this as a time to relax and enjoy the fruit of your labours, you’ve got itchy feet.  You need a new challenge, a new property to inspire your creativity, and you say to your home – it’s not you, it’s me!

2. Don’t fix, move

As we go through life our needs change. Whether you start a family or find yourself with an empty nest, what meets your needs today may not tomorrow.  These needs could be driven by a belief that there’s a better property out there. Instead of fixing the issues with your current home, the idea that the grass might be actually greener is way more attractive.

When you start to believe that a house isn’t working for you, it’s easy to ignore the positives that your home brings to your life, and focus your energy on those annoyances that have started to irritate you about where you live.  It could be the size of a room, or you might be starting to see some wear and tear that needs dealing with; the location could be a bug bear, or the area may have changed from when you purchased.

Before you rush into a major decision, at Trend & Thomas we just want to remind you of the costs involved in moving home.   We want you to make the right decision for you, one you won’t regret further down the line.  So before you and your home separate for good, try and rekindle your romance and remember why you fell in love with it in the first place.

3. Fulfilled a need

Not everyone who moves is seeking a forever home, some see it as a stepping stone to where they want to ultimately get to.  You may have moved to an area and now need to relocate for work or family.  Whatever the reason, your current property has fulfilled a need and now it’s time to move on.

Often in this case there can be a lack of emotional attachment to the property, making it easier to stage for viewings, but harder to get yourself motivated to do so.   We want you to achieve the best price for your property and to do this you need to put the work in to get your home in the best shape.  Now it’s fulfilled your need, get it ready to help you onto the next step of the ladder.

4. No longer fits

Size is a big issue for many people when they start thinking about moving home.  It could be that you feel the walls closing in around you as your family grows and your belongings no longer seem to fit.  Or the opposite could be true; you may feel like you’re rattling inside an empty cage with rooms you no longer use.  When your home no longer fits your life there tends to be only one solution, and that’s to move.

But before you rush into searching for your next home, start to really think about the space you do need from your next property.  People can often make rushed decisions when they feel unhappy and cramped, and their desire for a certain type or size space can override that for a home that’s futureproof.  Emotions are powerful tools that can sometimes affect our rational thinking, which is why we’d encourage you to come and chat to our sales team.  We can show you a range of properties in the area that we believe will give you what you need today, but will also work for those many years to come.

Breakups are hard to do

Yes, breaking up is never easy, even when it’s exactly what you want.  Moving home can be one of the most stressful things you do in life, which is why we want to make sure you’re moving for the right reasons.  And when you’re ready we know there are plenty more fish in the sea for you to make your own.

For more advice on moving home, come and chat to a member of our sales team on 01923 773 616.

Beat the Burglar!

Are you heading away for the upcoming school holidays and have you thought about your Home while you are away?

Did you realise the huge increase in Social Media usage can compromise the security of your home.   Recent research by Together Mutual Insurance found 760,000 people posted they were at the airport and that was only in a 30 day period!

Firm advice from Michael Fraser – of the BBC’s “Beat The Burglar” – ‘Don’t post anything online – save it until you come back.’

Other than not posting selfies at the airport here are a few of Michael Fraser’s other top tips to beat the burglars & help you keep your home safe during your next holiday.

• Obscure the front window
• Have two locks on the front door
• If you have a cage on your letterbox leave it open so the post drops to the floor instead of piling-up to indicate that you’re not there
• Get people to come round and alter the curtains or blinds, someone who you really trust
• If you look at a row of parked cars, a robber will choose to take a car that has its wheels facing the road for a quick getaway instead of one with its wheels turned in towards the kerb

Here’s a helpful infographic produced by Michael & the Met Police to Beat the Burglar!

https://www.thinglink.com/scene/480759647729352706

Beat the Burglar infographic

Trend & Thomas asks, Is OnTheMarket.com InTheMarket?

You may have heard the rumble of activity amidst the online property portals open to Estate Agents recently and we wanted to give you our summary of the situation and how it will affect our clients and marketing plans.

Last Monday saw the arrival of a new online portal called OntheMarket.com

This portal does a very similar job to the existing market leaders Rightmove and Zoopla with one very large difference – this portal is owned and operated by a consortium of Estate Agents. Emerging quite simply because Agents were tired of the duopoly of the big players causing mounting fees and very little in return. The fees were increasing, functionality was not improving and Agents felt duped that they were losing control of their marketing choices.

For this reason the concept behind OntheMarket.com was excellent. An advertising and marketing choice created by Agents, for Agents with hugely reduced fees in comparison to the existing portals & potentially providing much needed competition to the market with the hope it would reduce the stronghold of Rightmove and Zoopla.

All admirable goals and we support the concept wholeheartedly. Trend & Thomas not being shy of a little competition to the market…with 6 Estate Agents in the High Street it’s not a game for the faint-hearted! However, in order to shake things up, OnTheMarket.com had one very serious condition – in order to join, benefit from hugely reduced fees and gain shares in the burgeoning company – you had to drop one of the other main portals – Rightmove or Zoopla.

The arrival of OnTheMarket.com has been a long term process and we have been watching the development of the portal over the past 12 months along with the reactions of Rightmove and Zoopla, other Agents, the press and most importantly, the public.

OnTheMarket.com launched last Monday and we have watched the week with interest.

Our findings after week one:

• Not enough budget to provide TV Advertising to match the competition
• Not enough budget to ensure market leading functionality
• Not enough diversity of properties listed to make it the go to portal for buyers, tenants.

So after a year of research and debate Trend & Thomas would like to announce our 2015 advertising and marketing decision – we will be staying with Rightmove & Zoopla.

Despite the great shake up OnTheMarket.com can give the industry and the attractive reduction in fees, we have come to the decision that the best interests of our clients are foremost and the giants of Rightmove and Zoopla have much bigger budgets, better current functionality, more exposure to the public and more back end support to fix issues and develop future technology.

While we herald the success of OnTheMarket.com we don’t feel it will currently give our clients & their properties the best advertising and marketing exposure. For the time being it will actually reduce the number of people being exposed to their property. From our research in this first week of OnTheMarket.com there is over 80% more online activity via Rightmove alone in our local area, than there is via OnTheMarket.com

We will continue to monitor developments and report any updates and news to you, but for now we are staying with the market leaders for the sole benefit of our clients.

OnTheMarket is not currently InOurMarket – but you can help us with our research by answering our poll: