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In recent years, the Government’s Rent a Room scheme has become more popular than ever before. The scheme, which lets landlords earn up to £4,250 a year, can provide a tax-free benefit for private landlords looking to let out a single room or an entire floor within their property.

We’ve noticed a trend towards resident landlords who continue to live in their property while letting a room, or several rooms, to a tenant or lodger. With times being as they are, money is often tight and many tenants are beginning to see the benefit of taking on an inclusive rent package such as this, which more often than not will include heating, electricity and other amenities such as Wi-Fi and TV licence.

Here at The Letting People we’ve been approached by several home-owners looking to take on a tenant with most looking to put together an inclusive package for lodgers, designed to include the cost of gas, electric, water, and other items.  It seems that both landlords and tenants get the best from this alternative living arrangement. Landlords are content in the fact that they can put a spare room to work and gain tax free income, while tenants enjoy having their landlord close by to deal with any household problems which may arise.

If you are looking to become a resident landlord, you need to consider several factors before taking on a tenant. And it’s important to take into account your needs, as well as theirs. As a live-in landlord you’ll be living in close proximity, so compatibility is essential.

It’s also a good idea to think about the communal provisions which will need to be in place. As well as utility bills, you’ll need to think about laundry facilities, parking, use of an additional television or even rules about occasional guests – for both yourself and your tenant.

We offer our landlords full referencing of their prospective tenant using an insurance company, and preparation of a specialist tenancy agreement.  For more information about becoming a resident landlord, talk to your local branch of The Letting People.

In this Landlord Spotlight, we are delighted to feature Jill Wall – our once first-time landlord now turned investment property developer.

The Letting People have been working with Jill since 2002, when she first contacted us to arrange for an appraisal of her house in Harbury. Jill was just preparing for her wedding and looking forward to moving into her new home with her husband-to-be.

Jill says “Becoming a first-time landlord gave me an insight into what prospective tenants wanted and needed to make a successful tenancy and I soon learned that having my property managed with The Letting People enabled me to get on with my new family life, and enjoy holidays to the full. I’ve also found that the best way to make any letting work is to be very flexible, build the tenant’s trust, and recognise the fact that the property is now the tenant’s home.”

Over 10 years and several tenancies later, the house is still let with The Letting People!

Little did we know that Jill was to catch the property investment bug. In 2009 she contacted us again to find another tenant for a stunning conversion she had quietly worked on for several months – turning a tired old bungalow into a spectacular, contemporary home with designer wallpapers and fittings, a superb high specification kitchen, and a beautiful extension.

Jill says “Buying and letting the bungalow was like turning an ugly duckling into a beautiful swan and this has now become my passion.” By talking through Jill’s aspirations for the refurbished bungalow, targeted advertising, and careful referencing through an insurance company, The Letting People were able to find Jill the ‘perfect’ tenants.

Four years’ later these tenants (a lovely professional couple) have become great friends with their landlord and they now often meet up with Jill and her family for events, parties and barbeques. The tenants love the bungalow so much they have continued to make improvements to it (with Jill’s permission) and really make it into their home.

In the future Jill dreams of finding another ‘ugly duckling’ in the form of a large period property she can wave her magic wand over, and restore to its former glory. This, she hopes, would become her primary residence as well as housing a tenant or two! The Letting People will be delighted to continue to work with her to support her to realise this dream and to meet all of her aspirations. We truly believe that Jill is the next Sarah Beeny!
 

We all know how important it is to make sure that your vehicle is prepared for winter, but what about your property? While we’re spending money on winter tyres, windscreen de-icer, and oil checks, who’s focusing on reducing condensation, insulation, or boiler maintenance?

For residents, the cold snap expected in the coming months can be problematic but for landlords who are not prepared, especially those with multiple properties, these glitches can be extremely costly; The Letting People is encouraging landlords to prepare their houses and flats as soon as possible.   

Every winter we see some landlords struggling with problems which could easily have been avoided if more thought was put into making their properties ‘winter-ready’.  It’s that old adage – prevention is better than cure.

Tenants too can often avoid problems of condensation by ensuring that wardrobes and other furnishings are kept away from cold walls, and windows are regularly opened and/or condensation is regularly wiped off surfaces or extracted.  This will ensure that all moisture is kept to a minimum inside the property from washing, cooking, and drying clothes, etc.

It’s bad enough for home-owners who experience trouble with their boiler, or find damp patches in the corners of their rooms; but for tenants, maintenance issues can take much longer as the landlord must be involved in the decision before any necessary repairs can be made.

The Letting People in Leamington Spa and in Milton Keynes works with reliable local contractors such as gas engineers, plumbers, electricians, and roofers, to help each landlord to be prepared for the winter, and to prevent future costly problems.

Putting the needed provisions in place may seem like an unnecessary expense at this time of year but when you’re trying to relax over the festive break, you’ll be pleased that you took precautions.

Many landlords will have met Beverley Jeavons, our viewings advisor, as she whizzes from viewing to viewing sourcing the best tenants for each landlord’s property. However, few people will know of her hidden talents and qualifications as an interior designer…. and master furniture re-arranger!

Nonetheless, Beverley has been known to go ‘beyond the call of duty’ with furniture re-arrangements, dead plant removals, and carefully placed bowls of fruit and fluffy towels.

We recently heard that she not only moved all the sitting room furniture around, but also found some designer carrier bags (all empty unfortunately) at the back of a wardrobe and decided to re-arrange them in strategic points throughout a house we were trying to let – a creative ploy to help find a tenant that would aspire to the Christian Dior, Gucci and Harrods lifestyle.

And it worked because the next viewing through the front door was suitably impressed, and decided to apply for the property straight away!

Since then, the tenants have continued to improve the property, liaising with the landlord to supply and wallpaper all the hall, stairs and landing, and painting upmarket colours throughout.

Looks like Beverley’s designer touch is infectious!
 

With the landlord’s permission and the help of our local trade contractors we carry out many property Makeover services – including sourcing great bargains on fixtures, fittings, and furnishings. The Makeover service may include:

• Updating decorating with modern paint colours and with feature wallpapers
•  New flooring with carpets, linos, and wood laminates
•  New plumbing – replacing showers, taps and kitchen and bathroom fittings
•  New electrical fittings to ensure the sub-tenant’s safety
• Replacing curtains/curtain poles, and light fittings and shades with contemporary colours and fittings
• Replacing furnishings with good quality new or ‘pre-loved’ items
• Sourcing upmarket lamps, cushions, throws, prints, pictures, and mirrors to complement different property styles and to encourage the sub-tenant to feel at home
• Replacing or removing old fences, greenhouses and sheds and tidying up neglected gardens
• Cleaning, cleaning and more cleaning!

To complement the Makeover, we introduced our unique ‘Fee Free’ service in 2011.

It means The Letting People agree to become the tenant of a property (and thereby take on all of the responsibilities of the tenancy) on a 2-3 year tenancy agreement with the landlord’s permission to sub-let*.

The ‘Fee Free’ service is proving to be very popular and the benefits to the landlord are:

• An agreed start date and guaranteed rent paid on the 1st day of every month for a 2 or 3 year term – thus avoiding void periods over the agreed fixed term
• No letting fees as The Letting People are the tenant
• No deposit claims to worry about – The Letting People arrange inventories and check-outs at their expense, and make deposit claims with the sub-tenant as necessary
• The property is returned to the landlord in a re-lettable, and usually an improved condition (thanks to a makeover) at the end of the 2-3 year term, or an agreement to renew the tenancy is made

To find out more about the ‘Fee Free’ or Makeover services please contact us to make appointment for us to assess your property.

                     Before   ……………….. and ……………………..  After

*Currently available on most local properties with a rental value assessed at less than £700pcm.
 

Exciting News! New franchise branch opening shortly. The Letting People are delighted to be working on a new franchise branch opening,  which is expected to be in June 2013. Further details will be announced soon……..

The Letting People was delighted to receive an invitation to join a delegation of construction-related firms to raise current issues at The Houses of Parliament.

Caroline Kempster, co-owner and Marketing Director joined delegates from across the county, with the Coventry and Warwickshire Chamber of Commerce, as they visited Westminster.  They raised key issues with Nuneaton MP Marcus Jones, the Prime Ministers' small business ambassador for the Midlands; Stratford MP Nadhm Zahawi, a member of the Department for Business, Innovation and Skills select committee; and Sajid Javid, the Financial Secretary to the Treasury.

Caroline was also delighted to have the opportunity to sit in the House of Lords and hear the 2nd reading of the Immigration Bill where she heard the live debate.  This was of particular interest as Lord Best spoke of the  "daunting" and "adverse" effects this Bill could have on the private rented sector. He highlighted some of the logistics of the Bill and particularly the effects in regard to the onerous immigration checks that landlords, and their agents, might have to carry out on their tenants and their families, if the Bill became law.  Lord Best recommended that a pilot scheme would be the best way forward to test the possible effects of the Bill.

The Letting People – Leamington Spa branch are celebrating the launch of their new web site and offering a thank you of 52 FREE weekly entries into the Myton Hospice lottery for any landlord who has been recommended and we sucessfully let their property and 52 FREE weekly entries to you as a thank you for recommending your friend!. Please sign up below to register your recommended landlord details for this offer

For details of the Myton Hospice lottery

We all like a nice surprise (and also helping a local charity) so every month The Letting People are giving all their current landlords, and potential landlords, a FREE entry into their new prize draw to win 52 FREE weekly entries in the Myton Hospices Weekly Lottery.

The monthly prize winner will join the local hospice weekly lottery every week for 52 weeks (one year) and could win up to *£5,000 (*quarterly jackpot prize in the Myton Hospices Lottery)

Money generated from the lottery goes directly towards the running costs of the Myton Hospices.  Every week winners of the hospice lottery share a guaranteed prize fund ranging from £5 to £1500.  (Players must be 16 or over.) 

It’s quick and easy to enter – Simply phone The Letting People on 01926 832291 to register your details.
If you would like a free specialist market appraisal of how much your property could be rented for – find out more at: The Letting People, 1st Floor 5 Euston Place, Leamington Spa CV32 4LN Tel 01926 832291. Email: info@thelettingpeople.co.uk
 

The Letting People are delighted to announce that Jemma James has won their prize draw and will now be entered into the Myton Hospices lottery weekly draw for the next 52 weeks