Top tips for maximising rental as Scottish landlords profit from growing market

Top tips for maximising rental as Scottish landlords profit from growing market

by Kate United Kingdom

The Scottish rental market is booming, as new figures released by lettings agent network, Your Move, have revealed.

Whilst the UK rental sector is currently witnessing growth overall – 41% of landlords surveyed by Paragon Mortgages said that they thought demand was growing – the Scottish market specifically is far outperforming that of England and Wales, registering a 2.2% increase in average rental prices year-on-year, from £526 in October 2013 to £537 in 2014.

The ‘Scottish Buy-to-Let Index’ has shown that this compares favourably to England and Wales’ 1.5% average rental price growth over the course of the last year. In fact, Scottish rental rates have been moving in the right direction for landlords since October 2011, when they stood at £507 on average. This figure, 5.9% lower than today, has increased each year since to the healthy figure of today, figures that the report says ‘are currently rising faster on an annual basis than across seven other UK regions’.

Neil Woodhead, Founder of Ready Rentals, an online resource that provides self-managing landlords with the support to provide a professional and legally compliant service, and himself a Scotsman, explains what might be causing this discrepancy,

“With the Referendum uncertainty behind us, there is now an increase in tenant demand in Scotland, along with additional instructions from new and existing landlords. With the majority of landlords non-resident, purely buying as investors, in light of the recent clarification of the Scottish Government’s new powers, it is anticipated that increasing numbers will now have the confidence to invest for the future.

“This is not only true for domestic landlords, but buyers from outside of Scotland will more and more be looking to the far north in coming months too. This will be sparked by both the new pension changes in place and also the lower property values, stronger demand and growing rents in relation to the rest of the UK. Uncertainty of the outcome of the May 2015 elections may well also create a slowdown in the English market which can only benefit Scotland further.”

The impact of the improving figures has led to a total annual return for a Scottish landlord on an average rental property of 8.9%, up from 4.2% in October last year. Whilst undeniably impressive, these figures are down marginally on the peak figures of June 2014, when total return stood at 9.4%. It is therefore important for landlords to continue to consider what they can do to make the very most of their property, their investment asset.

Neil provides his top tips for private landlords to maximise the return on their investment:

  • Follow the market closely to identify future growth areas. For example, new companies setting up in new areas requiring incoming workers and in turn accommodation, the development of new hospitals, Government relocations.
  • Compare your property with local competition. Well maintained, decorated and up-to-date properties are always more desirable and tenants will be willing to pay that little bit more.
  • Do not assume that the best returns come from ‘executive flats’. Many tenants have children who are looking for long term rentals, front and back doors with gardens close to schools. In many areas these properties generally cost less to purchase but achieve higher rents.
  • Do not advertise too soon before becoming available, 4-5 weeks maximum otherwise your property will slip down the rankings on major portals and give the impression there are issues with the property. Many potential clients also search for properties uploaded within the ‘last four weeks’
  • Look on your income not as a rent per month but annually. I know of many experienced landlords who offer quality properties at slightly lower rents but usually let them very quickly to quality tenants who stay for a longer tenancy. Their void periods are reduced to a minimum and annual income is therefore increased.
  • Consider whether you could rent to tenants with pets – very few landlords are providing suitable accommodation and therefore this can command a premium.
  • Ensure your property is up-to-date with all the required media channels. A property without Skyplus or poor mobile signal will be an important issue these days for those looking to rent.

For more information about Ready Rentals visit www.readyrentals.co.uk or call 0141 212 9120.

Neil’s 5 must-read tips for private landlords this winter

Neil’s 5 must-read tips for private landlords this winter

by Kate United Kingdom

British Gas have recently revealed that 49% of people aren’t looking forward to winter, with many worrying about whether their home will hold up to the freezing temperatures, heavy rain, strong winds, and potential snowfall that the coldest season of the year brings.

Because of this, and with a growing number of private landlords in the UK – the sector is predicted to constitute £1 trillion worth of property come spring 2015 from a figure of £930.7bn today and just £262.1bn in 2001, according to the Office for National Statistics – it is important for landlords to make sure that their properties are fit for purpose this wintertime.

Ensuring not only that the property itself is going to stand up to the elements but also that, in turn tenants are comfortable and secure, Neil Woodhead, Founder of Ready Rentals, an online resource that provides self-managing landlords with the support to provide a professional and legally compliant service,highlights five tips that every landlord must-read in the run-up to winter:

1)      Undertake external building inspections

External defects can quickly damage a property, especially in winter. Make sure you carefully check all outside walls, windows, doors and roof for damages and any signs of weakness. Replace any cracked tiles and inspect chimney pots if the property has them, fitting ventilated cowls to unused chimneys. Ready Rentals can help by providing templates that landlords can use to regularly inspect their property and produce written reports.

With British Gas showing that 8% of those surveyed were concerned about the damage caused by overflowing gutters, and the ensuing affects potentially causing knock-on effects for the building, it is essential that you clean gutters, fix running overflows, remove moss and repoint any defect pointing.

2)      Test heating systems

Has your boiler been serviced for winter and all your pipes and radiators checked for leaks and bled for airlocks? 46% of those asked by British Gas were worried about the heating or hot water failing during the colder months.

This is as, if not more, important if your property is lying empty or if you are remote from the property. If you have left the property without a resident, make sure that you arrange to drain the system down, along with all hot and cold water pipes. If you are remote from a property especially, ensure that you have emergency cover in place to cover breakdowns, an essential service for the tenant if you cannot contact a contractor quickly.

3)      Keep an eye on insulation

Check that your loft insulation is up to current standards and, depending on location, grants may be available to upgrade it. Ready Rentals provides up to date information on changing legislation for landlords and ensures that all legal requirements are being met.

Consider cavity wall insulation, double or secondary glazing, and lagging pipes in void spaces. To reduce draughts, making living conditions more comfortable for those in the property, check pointing of door and window frames, apply sealant to skirting boards and fill gaps in wooden floors. All of these measures will protect your home, ensure it is more environmentally sound and help your tenant save money on their heating bills. The Ready Rentals system assists in this by allowing landlords to arrange maintenance and repairs online with professional and regulated companies.

4)      Be aware of flooding risks

British Gas have revealed that 1 in 10 people have worries this winter about flooding because of burst pipes and landlords can put measures in place to make sure this is an unlikely occurrence. Burst pipes can cause significant flooding and serious damage to a property and no-one wants to have to face this in the midst of winter. Make sure that you don’t allow pipes to freeze – protect exterior pipes with insulation sleeves if possible to help prevent this.

5)      See to outside paving

In very cold weather water on paving slabs will freeze. This can not only be dangerous for tenants and anyone visiting the property but could also raise insurance issues and possible compensation claims against private landlords if someone injures themselves on the ice.  Ready Rentals provides a helpline to landlords who have general, legal or financial queries, relating to anything they may require guidance on.

In the instance of paving, it is important therefore to ensure that all paving is well-drained so that it avoids the collection of water that will stand and freeze, creating treacherous conditions.

Taking into consideration these simple tips, all landlords can have a happy and stress-free winter, knowing that they have protected their property and created a comfortable home for their tenants.

For more information about the Ready Rentals service for landlords – that costs from just £20 per month including VAT – visit www.readyrentals.co.uk or call 0141 212 9120.

Foreign visitor numbers up almost 25% as Albania ranks top choice for both business and tourism

Foreign visitor numbers up almost 25% as Albania ranks top choice for both business and tourism

by Kate Albania
  • Number of foreign visitors to Albania increases 24.9% from Q2 2013 to Q2 2014 (INSTAT)
  • The country rises 40 places in The World Bank’s ‘Ease of Doing Business Ranking 2015’
  • Albanian GDP predicted to rise by 2.9% in 2015 and 3.5% in 2016 (European Commission’s ‘European Economic Forecast Autumn 2014’)

The hidden jewel in Europe’s crown, the Balkan country of Albania, witnessed an increase in foreign visitor numbers of 24.9% from the second quarter of 2013 to the second quarter of 2014, the country’s national statistics office, INSTAT, has revealed.

Their ‘Quarterly Statistical Bulletin’ also demonstrated in more detail how these visitors were reaching Albania, showing that 703,980 of the 815,196 foreign tourists visiting in Q2 2014 arrived by land, an increase of some 32.9% on the same period the previous year. Visitors arriving by air numbered 86,929, an additional 11% on the year before.

This outstanding growth, within the space of just one year, heralds an exciting time for the country, proving that it has much to offer all kinds of visitors, as Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“Albania has emerged from a history of communist rule and political instability to a present time of growing prosperity, stable government and hugely encouraging visitor numbers, looking towards a future of EU accession (the country has been confirmed a candidate), bolstered GDP and increasing tourism. And what a country it is – beautiful scenery, close proximity to Italy, easily accessible direct from the UK, a Mediterranean climate, friendly people… Albania has a great deal to offer.

“It is therefore no surprise that the number of foreigners visiting the country are on the up, and with so much to offer to all types of visitor, figures can only continue to move in one direction. This is all very good news for those investing in the country, whether it is as part of big business or buying into the growing property market.”

And Walshe’s mention of business is certainly on the mark. The World Bank has recently released their ‘Ease of Doing Business Ranking’ for 2015, a matrix that scores 189 nations on how hard it is to run a company in their country, and the result was a positive one for Albania. Last year’s ranking saw the country placed 108th, yet within the space of one year, the nation has risen 40 places to stand at 68th.

This incredible achievement proves that the hard work that the Albanian government have been doing to support Foreign Direct Investment (FDI), lowering company registration fees, easing the granting of construction permits, and implementing the new law on territory planning, for example, are paying off, making the nation more attractive to those looking to do business and, in turn, successfully make money.

Yet it is not just business purposes that are drawing more and more people to Albania’s shores, the rise in visitor numbers is also largely due to more and more people holidaying in this corner of Europe, according to INSTAT. Growing an impressive 106.4% in just one year (from Q2 2013 to Q2 2014), the number of foreign tourists arriving in Albania on holiday has increased from 95,335 to 196,813.

All this positive movement in both the tourism and business sectors has resulted in encouraging growth in the country’s finances, with the European Commission revealing  2014 GDP growth to be 1.8%, with increases of 2.9% and 3.5% predicted in turn for the coming two years. These statistics make it easy to see why Standard & Poor’s has improved its outlook for Albania’s economy from a rating of ‘stable’ to one of ‘positive’ and also why London-based investment company, Charles Street Securities LLP is backing the country’s first five star resort, Lalzit Bay Resort and Spa.

Lalzit Bay Resort and Spa is the ideal investment option for those looking to capitalise on the growing Albanian economy, as well as those looking to holiday in the beautiful country themselves. The beachfront resort provides luxurious facilities, including a beach club and tennis courts, boutique shops, top restaurants and bars.

Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting spacious indoor and outdoor space, optional private swimming pools and the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.

For more information about Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com 

Fashionable Florida: Sunshine State rated the ‘desirable location’ this winter

Fashionable Florida: Sunshine State rated the ‘desirable location’ this winter

by Kate United States
  • Orlando most popular holiday location for domestic travellers this winter (ASTA)
  • International buyers in Florida property market up 1% in 2014 (NAR)
  • Florida as ‘desirable location’ top reason for buying, with 59% in 2014 claiming so (NAR)

Faux fur. Long boots. Over-sized scarves. Roll-neck jumpers. All key style trends for Autumn/Winter 2014/15. But when it comes to this season’s must-visit destination, where’s hot this wintertime, even as the weather turns cold?

According to the American Society of Travel Agents (ASTA), Florida’s Orlando is top choice for those looking to the US over the 2014-15 winter season, with more US residents booking to visit the Sunshine State’s most popular hotspots than anywhere else in the country.

Receiving 41% of the recorded bookings, Orlando ranks far ahead of the key tourist destinations of Las Vegas (receiving 13% of bookings) and New York City (with just 6%), and as a state overall, Florida charges ahead of the pack, with 58% of ASTA-recorded bookings, far outweighing second-place Hawaii’s 20%, thus marking Florida, and Orlando specifically, out as the ‘in vogue’ locations for A/W 14/15.

This season Florida, with its much-loved winter sun, is being seen as ‘the’ place to visit, rounding off an outstanding year for the state in which it welcomed 11.2 million overseas visitors in the 2013-14 period, compared to 10.4 million for the previous year. The 7.7% increase year-on-year is substantially contributing to Florida’s economy, adding an additional $4.3 billion to the state’s coffers, an extra 6% according to Visit Florida, taking the 2013-2014 figure to $76.1 billion.

And with more tourists comes more employment. As a tourist destination grows to match demand, more staff are required to construct and staff these new developments, growing the need for additional rental housing within the local market. For this reason Florida is also solidifying its place as a much sought-after location for purchasing property. Whether it is to use as an income stream by renting the property to others, as a long-term investment to capitalise on the state’s expanding property prices, or as a combination of these factors, more and more people are seeing the Sunshine State as a hot property prospect this winter and onwards into 2015 and beyond.

In fact, the National Association of Realtors (NAR) has revealed in their ‘Profile of International Home Buyers in Florida 2014’ report that 10% of Florida’s residential market was made up of international sales this year, up 1% on the 2013 figure, and up an estimated $1.54 billion, or 24%, in terms of how much these foreign real estate purchases in Florida were worth in the year up to June 2014.

And the most important factor for influencing someone’s decision to purchase real estate in Florida? According to the NAR report, viewing the state as a ‘desirable location’ and increasingly so.

Philip Button, Managing Director of specialist property investment firm Brookes & Co, who have been working in the Florida market bringing US properties to UK buyers for over a decade, explains more,

“Florida is certainly a stand-out location for those looking to invest in property, offering much potential and opportunity, and it is becoming more and more so. The NAR has shown that 54% of buyers in the state in 2013 saw Florida as a ‘desirable location’ in which to purchase and a year later, in 2014, this had increased to 59% putting this as their top reason to invest.

“Florida’s place as this year’s fashionable Autumn/Winter location for both holidaying and purchasing real estate, has also been backed publically by Floridian Governor Rick Scott who has increased public funding for Visit Florida, the state’s tourism body, by $10.5 million (according to the 2013-2014 Annual Report), taking public funding to a record $74 million for financial year 2014-2015. For this, and a whole host of reasons, buying in Florida is certainly ‘à la mode’ in 2014 and a wise choice looking forwards.”

Always ‘on trend’ with the projects they bring to market, property investment specialists Brookes & Co have just launched a new project in Florida that allows buyers to capitalise on the location as a hot destination this winter and beyond.

Offering a 5-year rental guarantee with a 6% return after all costs, The Club at Sunset Lake makes the ideal investment opportunity. This brand new gated development in the heart of central Florida, close to all major amenities, boasts luxurious facilities including an exclusive club house and swimming pool, fitness centre and spa, sports courts and cycle paths, and a lake front park and picnic area, making the most of the beautiful location. The two, three and four bedroom properties are spacious, the larger properties also with garages, and priced from £96,950.

With the fashion world already looking ahead to A/W 15/16, it is clear that some things in fact never go out of fashion – and Florida may well be one of those.

For more information about The Club at Sunset Lake and buying in Florida, contact Brookes & Co on +44 1621 875 925, email info@brookesandco.co.uk or visit www.brookesandco.co.uk

Building success: Europe’s ‘hidden gem’ registers bigger and better construction projects

Building success: Europe’s ‘hidden gem’ registers bigger and better construction projects

by Kate Albania
  • Size of new developments in Albania grows 149.5% in a year (‘Quarterly Statistical Bulletin’, INSTAT)
  • Increasing amounts being spent on new projects, rising 160.1% from Q2 2013 to Q4 2014 (‘Quarterly Statistical Bulletin’, INSTAT)
  • Phase 1 of Lalzit Bay Resort and Spa now 70% complete as major milestone reached

A clear indicator that the Albanian property market is on the up, it has been revealed that the size and scale of new building projects in the country are increasing – at an astounding rate.

Figures released by the Albanian National Statistics Office, INSTAT, in their Quarterly Statistical Bulletin have shown that the size of new developments being granted construction permission have grown in 2014 by an impressive 149.6% from a size of 83,420 m² in the second quarter of 2013 to span 208,222 m² in the second quarter of this year.

Marking a turning point for this buoyant market, the booming scale of new building projects has also been supported by eye-opening growth in the value of these projects year-on-year. The INSTAT Bulletin revealed that Q2 2013 saw a figure of 3,003,666 thousand lekë being spent on new building projects granted permits, with Q2 2014 seeing 6,404,601 thousand lekë spent, a staggering 160.1% growth within a single year.

These outstanding figures expressly show that the Albanian new-build market is a hot one, ripe for investment from both domestic and overseas sources. Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“The property market in Albania has been showing signs of growth for some time now, with EU candidacy being granted and blossoming tourist figures prompting more and more people to discover this hidden gem of Europe. Yet these newly released INSTAT figures point to a real turning point for the country. Building volumes are up, the amount of money being pumped into the sector is rising and investment is increasing from foreign individuals and businesses who are realising that now is the ideal time to buy in Europe’s ‘hidden gem’ – Albania.”

In the second quarter of 2014, 39 building permits were approved in Albania, with 79.5 % of those being for residential buildings. With this sector showing the most growth, certain areas are benefitting more than others. Unsurprisingly, the area in and around the capital Tirana registered the highest proportion of new building projects, with some 48.7% of Albania’s newly confirmed properties being built there, an increase of an astonishing 130% year-on-year from Q2 2013 to the same period in 2014.

Just 30 minutes from Tirana’s international airport, Lalzit Bay Resort and Spa is a prime example of a new project being developed with the backing of UK investors to drive its successful growth. This luxurious resort is situated on the unspoilt Adriatic coast, just 45 miles across the water from Italy and sharing many of its natural charms: of long golden beaches, breathtaking mountain ranges and a sunny climate, yet with an untouched beauty of its own that is second to none.

Following in the footsteps of those new projects being granted permits, Lalzit Bay is one step ahead, with construction on phase one of the project now 70% complete. Infrastructure and building of the apartments are almost finished, as is the superstructure for the first group of villa shells, as well as the subterranean infrastructure.

With five star facilities planned, including a beach club and tennis courts, boutique shops, top restaurants and bars, connecting the resort to the national electricity supply has been a landmark step, meaning that more stages can now naturally evolve from hereon in. Work has commenced on the next five villas – all of which will boast spacious indoor and outdoor space, within phase one. Landscaping is due to begin in Q4 2014, as is development of the water supply too.

The first 80 apartments are 80% sold already, and there are deluxe and villa apartments also available. Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting  the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.

For more information about buying in Albania and Lalzit Bay Resort and Spa, call +44 845 125 8600 or visit www.lalzitbay.com 

Life Tenancy Investments: As seen on Rightmove

Life Tenancy Investments: As seen on Rightmove

by Kate United Kingdom

Q: I’m a regular Rightmove.co.uk visitor and have noticed a growing number of properties described as “Life Tenancy Investments”. What are these?

A: Life Tenancy Investments, such as those marketed and sold by the Guy Charrison Property Consultancy, are a fully legal and legitimate way of owning UK property for less than market value.

An alternative to traditional buy-to-let properties, Life Tenancy Investments have long been the preserve of some of the largest financial institutions and listed property companies but they are now available for both individual investors and homeowners alike to benefit from.

For retired people (60+) they offer a simple and straightforward way to significantly reduce the price of their next home in return for lifetime ownership. They become the ‘Life Tenant’ of the property whilst the investor is afforded the opportunity to purchase bricks and mortar for a fraction of its current open market value offering superb potential for capital growth.

As the listings on Rightmove reveal, properties can readily be purchased for 50% less than market value for example a 5 bedroom detached home in Berwick-Upon-Tweed, Northumberland, is currently available for £105,000, a staggering £125,000 discount from the independent valuation of £230,000. The property is sold on a freehold basis but is subject to occupancy in favour of a couple aged 79 and 71.

For investor’s working to a tighter budget and looking for a smaller property then this 2 bedroom apartment in Folkestone, Kent is available as a Life Tenancy Investment from only £79,950. Being sold leasehold and subject to an occupancy in favour of a couple aged 74 and 76, this attractive property presents an excellent investment opportunity as the independent valuation comes in at £135,000 resulting in a discount of almost 40%.

Guy Charrison, property professional and Founder of the Guy Charrison Property Consultancy, comments,

“The majority of my clients who purchase Life Tenancy Investments either already own or are looking to purchase a buy-to-let property. Many use portals such as Rightmove to search for investment properties but all too often they have had bad experiences of traditional buy-to-lets – unreliable tenants, void periods, maintenance issues etc – so are keen to minimise the risks of investment yet maximise the gains.

“In my opinion, Life Tenancy Investments are win-win for both the investor and the Life Tenant. With pension provision never more front of mind and the latest data from Baring Asset Management revealing that 1 in 14 (of people not yet retired) are planning to sell their primary residence in order to fund their retirement, becoming a Life Tenant in their own home in return for a lump sum upfront from an investor can be a very attractive option for many older homeowners.”

A range of Life Tenancy Investments across the country, available through the Guy Charrison Property Consultancy, are clearly listed on Rightmove.co.uk and can be found here http://www.rightmove.co.uk/property-for-sale/find/Guy-Charrison-Property-Consultancy-Chartered-Surveyors/Sunningdale.html?locationIdentifier=BRANCH^104594&includeSSTC=true&_includeSSTC=on.

Enquiry levels for these investment properties have been steadily rising through 2014 with supply only just able to meet demand. So to find out more about a new way of investing in property and the Life Tenancy Investments available through the Guy Charrison Property Consultancy, call today on 01344 851 007 or visit www.guycharrison.com.

Easier for Brits to obtain US mortgages than UK ones, as foreign-national mortgage products boom

Easier for Brits to obtain US mortgages than UK ones, as foreign-national mortgage products boom

by Kate United States
  • Increasing numbers of those wanting to climb property ladder looking overseas for mortgages
  • Foreign investors spent $35 billion on US mortgages from March 2013-2014 – a 46% increase year-on-year
  • Brookes & Co launch exciting new Florida project: The Club at Sunset Lake, with US mortgages available

With the introduction of the MMR (Mortgage Market Review) earlier this year and finance seemingly ever harder to obtain in the UK, many individuals are beginning to think creatively about how best to climb the property ladder. Despite fluctuations in the market, a wisely chosen property portfolio is a steady, long-term way for individuals to increase their investment income.

Rental properties in popular holiday destinations around the world are a highly desirable element of any property portfolio, as they allow for receipt of monthly yields at the same time as providing the potential for capital growth. Now, with the UK system tightening up, many investors are looking overseas for just such opportunities in order to make their money work harder for them and the US is one market that is benefiting from this evolution.

Across the pond, foreign-national mortgages is one such product encouraging Brits to invest, with banks offering access to credit for non-residents wishing to invest in holiday homes. Anthony B. Sanders, economics professor at George Mason University in Fairfax, Virginia, explains,

“The American pool of borrowers is drying up. Middle-class borrowers have flatlined due to low income growth, and domestic investors are finding it less appetizing because the foreclosure inventory has dried up. So who do you go to? Foreign investors.”

The banks’ new appeal to foreign investors is certainly working. According to the National Association of Realtors, foreign property investors spent approximately $35 billion on mortgages for US homes during the year to March 2014 – a 46% increase on the previous year’s figure.

Philip Button, Managing Director of specialist property investment firm Brookes & Co, who have been working in the Florida market bringing US properties to UK buyers for over a decade, comments,

“It’s fantastic to see investment in US property through foreign-national mortgages opening the sector up to growing numbers of buyers in the UK. US mortgages are straightforward to obtain and don’t require those applying to travel to the country, thus making international property investment achievable for a greater number of UK residents.”

US banks typically ask for 30% or more as a down payment for foreigners taking out mortgages, while others have set deposit limits, such as HSBC Holdings Plc’s $15,000 minimum requirement. However, with a favourable exchange rate and increasing restrictions on mortgages in the UK, many are finding that it is both easier and more cost effective to take out a mortgage in the US.

Launching on 1st November, the new US investment opportunity by Brookes & Co, The Club at Sunset Lake, times perfectly with this move providing the ideal opportunity for UK buyers looking to capitalise on the growing market.

A brand new gated development in the heart of central Florida, The Club at Sunset Lake is situated close to all major amenities and boasts luxurious facilities including an exclusive clubhouse and swimming pool, fitness centre and spa, sports courts and cycle paths, and a lake front park and picnic area, making the most of the beautiful location in which it is situated.

The two, three and four bedroom properties are spacious, exceptionally built and luxurious with the larger properties also boasting garages. All properties at The Club at Sunset Lake offer a 5-year rental guarantee with a 6% net return after all costs, making this a fantastic investment opportunity.

Two bed properties are priced from £96,950, three bed properties from £118,700 and four bed properties are priced from £137,450, with both residential and buy-to-let US mortgages available.

Philip Button concludes,

“We are very excited about the launch of our brand new Florida project and are sure it will make an excellent investment option for anyone looking to capitalise on Florida’s buoyant market. It will be interesting to see how many of those who invest opt to do so through foreign-national mortgages from US banks. Of course, individuals who do take out foreign-national mortgages have the added advantage of being able to begin building a credit history in the US, which is something that is always advantageous to have too.”

For more information about The Club at Sunset Lake and buying in Florida, contact Brookes & Co on +44 1621 875 925, email info@brookesandco.co.uk or visit www.brookesandco.co.uk

What tenants want… Ready Rentals helps landlords meet tenants’ transparency demands

What tenants want… Ready Rentals helps landlords meet tenants’ transparency demands

by Kate United Kingdom
  • New essential landlord service, Ready Rentals, reveals what landlords should be doing to step up to the mark
  • 54% of tenants claim transparency is most important in relationship with landlord (‘The Tenant Survey 2014’, Knight Frank)
  • Ready Rentals provides all documentation and support needed to keep tenants happy

With the buy-to-let market celebrating its 18th birthday since its inception in 1996, this year sees more people than ever renting property privately, overtaking those forming part of the social housing market.

And yet it is not just the numbers that have evolved in that time. What people expect from their rental property, and in turn their landlord, has also changed over the years. In light of the release of Knight Frank’s ‘The Tenant Survey 2014’, drawing into focus what is important in the sector today, new essential landlord service, Ready Rentals, has responded with what landlords should be doing to step up to the mark in 2014 and beyond.

The Knight Frank survey of over 3,500 tenants across the UK, one of the largest ever undertaken in the industry, investigated what is wanted from a lettings agent, with those renting claiming that transparency is most important, with clarity over charges and deposit costs being of vital importance (54% of those surveyed put this top of their wish-list).

Whilst the government-backed tenancy deposit scheme offers legal protection for the money tenants put down, Ready Rentals– an online support system for private landlords that ensures they provide a professional and legally compliant service – takes this important notion further, by supporting landlords with the often daunting paperwork and the setting up of rental agreements. The system offers automated creation of all the documentation needed including tenancy agreements and notices, directly addressing the need of tenants to feel secure and reassured.

Neil Woodhead, Founder of Ready Rentals, explains the importance of this,

“Private landlords come in all guises – they may have purchased property specifically with the aim of renting it out as a business venture; they may have inherited a home that they do not wish to sell for all manner of reasons thus becoming an accidental landlord; they may be waiting for the right market or personal circumstances in which to sell and desire to make a return in the meantime, a temporary landlord.

“Yet whatever the reason someone becomes a private landlord, it is essential they ensure that they are transparent in all they do in relation to their tenants, Tenants need to feel that everything is covered, seamlessly, and that they are not being taken advantage of and engendering a good relationship between landlord and tenant will be mutually beneficial in the long-term.”

Given the fact that the Survey also points to affordability as being the key factor for tenants when choosing a rental property (65% of those surveyed put this as their priority), Ready Rentals has recognised that private landlords must consider the positioning of their property within the market, so that they are balancing profitability with affordability, and that this is kept a check of along the way.

Ready Rentals has responded with the provision of an income / expenditure log, taking into account how much is being spent on the property and in turn how much is being made, whilst advising that, alongside, landlords monitor the local property market for trends of deterioration and fluctuation.

Interestingly The Tenant Survey 2014 also revealed a move towards longer-term renting with 32% liking the flexibility that renting provides and a growing number unable to afford to buy, 36% said they would be renting for over two years.

Within this context, an important facet for landlords to contemplate, how to sustain the satisfaction of tenants over an extended period of time, is also addressed by Ready Rentals, by ensuring that landlords are up-to-date with changing legislative demands. Providing instant access to all the statutory regulations that they must meet, which – especially long-term – can seem to be continually evolving, Ready Rentals offers much-needed support to all landlords when facing this often confusing minefield.

As Tim Hyatt, Head of Residential Lettings at Knight Frank explains, the future success of the industry hinges on just this thorough approach by landlords,

“The rising significance of the private rented sector is creating many opportunities for investors, especially as we are starting to see the advent of large-scale professional landlords. In order to make the right investment decisions, finding out what tenants want and need is crucial.”

Ready Rentals is central to this success, affordable and accessible, it addresses these and many other issues faced by private landlords, and in turn their tenants, ensuring that the service provided is legally compliant and seamless, and in turn profitable and hassle-free for those renting out properties.

For more information about Ready Rentals visit www.readyrentals.co.uk or call 0141 212 9120. 

Italy v Albania – Who will be the property champion?

Italy v Albania – Who will be the property champion?

by Kate Albania

As their national football teams prepare to face each other in a friendly match on 18th November at the Stadio Luigi Ferraris, Albania and Italy each begin to size up the opposition. Just 45 miles apart at their closest point and separated only by the Adriatic Sea, these European neighbours may be closely linked in terms of their proximity but is that 45 miles really a world apart when it comes to their property prospects?

Albania’s port city of Durrës is the second largest city in the country, and one of the most ancient, with a history dating back to the 7th Century BC and city walls to prove it. The largest Balkan amphitheatre is situated here and the golden sands of its beaches as well as those of Lalzit Bay, located just to the north, draw in the crowds, helping to establish the city as a popular tourist destination, albeit one that has yet to reach the giddy heights of its Italian neighbour.

Directly across the sea, Bari is similarly a port city and Southern Italy’s second most important economic hub, not surprisingly twinned with its neighbour of Durrës. Part of the Puglia region, popular with second-home owners, such as face of ‘A Place in the Sun’ Amanda Lamb who has owned two properties here over the years, Bari’s beaches are a mix of pebbles and sand, yet its sights are plentiful, with the Petruzzelli Theatre one of the most lavish opera houses in Italy and the interesting architecture of Bari Cathedral a highlight.

Long-established as a tourist destination, the Puglia region saw in excess of 1.17 million tourist arrivals during January to June 2014, according to the Region of Puglia government tourism agency, Pugliapromozione, with an increase of 7% in visitor arrivals from overseas. Overall, however, Albania can be said to offer more scope for tourist growth, with Visit Albania reporting an outstanding increase of 75% in the number of foreign tourists visiting for holiday and day visits in Q1 2014, when compared to the same period of 2013.

Another indication of this growth potential is the recent establishment of a second tourist office in Albania, situated at Durrës port, which follows in the footsteps of the first located at the capital Tirana’s International Airport.

Both locations have much to recommend them to visitors, sharing a Mediterranean climate in which to explore their many sights, yet it is Albania that offers the lowest cost of living, making visits to its shores more affordable than Italy. On the travel map, however, the allure of both destinations has given them famous connections, with Clint Eastwood, playing Robert in film ‘The Bridges of Madison County’ telling Meryl Streep’s Francesca that he thought Italy’s Bari “looked like pretty country” and romantic poet Lord Byron having travelled through Albania, remarking on its beauty.

In terms of accessibility, both destinations score highly, with year-round flights to and from London and summertime schedules that ramp up frequency and ease of travel. Yet it is Albania that in fact tips the balance, with Albania’s Tirana International Airport welcoming up to five direct British Airways flights a week from London in comparison to the carrier’s up to thrice weekly flights to Bari’s Aeroporto di Bari-Karol Wojtyła.

Because of this, each has therefore drawn a second home market, with Puglia currently edging ahead with a more developed tourism industry (Dame Helen Mirren even has a second property there, noting that the locals are “incredibly hospitable and welcoming”). Yet with Albania comes greater potential in the market for investment opportunities and future growth.

Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“On first glance it would seem that Italy has more to offer buyers than the Balkan nation, yet a great deal of this is that the market is more established. In recent years more and more people have been visiting the hidden European gem of Albania and discovering its ample charms and there is no sign of this ceasing. What’s more, these prospects became even more pronounced with the recent granting of EU accession status to the Balkan country heralding an exciting and prosperous future ahead.

“In fact Lalzit Bay Resort has convinced many Italian customers that Albania is their next holiday home destination. They tend to be attracted by the low property prices, the cleanliness of the beaches and some of the lowest living costs in Europe: a beer in Tirana costs just 0,60 euros!”

In the meantime, however, property prices in Italy’s Puglia region do reflect its more established nature sitting at around €60,000 for a typical 1 bed apartment and €100,000 for a 2 bedroom apartment. Prices for a typical 3 bed villa stand at approximately €280,000 and a 4 bedroom is priced around €400,000. Albanian prices, therefore, compare favourably for those looking to pick up a property bargain, yet with the same quality.

Lalzit Bay Resort and Spa, situated on the Albanian coast, just north of Durrës, with beautiful views of the Dajti mountain range, instead offers properties of the highest quality within a five-star resort. A low-rise development with a host of excellent facilities – from a beach club and tennis courts to boutique shops and top restaurants and bars – offers a range of property options, from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting spacious indoor and outdoor space, inspired by California’s elegant and modern beachfront houses.

1 bedroom apartments start at €49,000 and 2 bed apartments from €68,000, with 3 bedroom villas starting at €200,000 and 4 and 5 bedroom villas from €330,913, markedly cheaper than average Puglia property prices.

While it remains to be seen who will be victorious when the teams kick off in Genoa on 18th November, although Italy remains the undeniable favourites, it seems that Albania is the one of the pairing that comes out on top in the property stakes. With a great deal to offer like Italy, yet with a lower cost of living, rapidly growing tourism market and more affordable property options, it is Albania’s Adriatic shores that beckon for wise future property prospects.

For more information about buying in Albania and Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com

Immigration Issues: New service launched to support rental sector ‘Passport Police’

Immigration Issues: New service launched to support rental sector ‘Passport Police’

by Kate United Kingdom
  • New legislation to dictate that private landlords must check tenants’ immigration status before agreeing rental
  • Pilot scheme to take place in West Midlands from December, rolling out to rest of UK in 2015
  • New Ready Rentals system to support private landlords with legislative changes

A new service, launched today, will address the controversial issue of making private landlords ‘passport police’, as new legislation comes into play in the private rental sector.

Ready Rentals, a new online support system for private landlords, is launching just as those renting out their properties in the West Midlands are preparing to face new rules that mean that they must check the immigration status of prospective tenants before granting a rental agreement.

Coming into play from 1st December this year, new Home Office legislation will dictate that private landlords across Birmingham, Dudley, Wolverhampton, Sandwell and Walsall will, by law, have to ask those applying to live in one of their properties for proof of their right to reside in the UK – be it passport, right of abode certificate, or alternative documents that confirm their immigration status – before granting them right to rent.

Although recommended as best practice by the National Landlords Association (NLA) to minimise the risk of tenants reneging on rent, a check on immigration status is not currently a legal requirement, yet the new legislation, which will form part of the Immigration Act, will mean that a landlord failing to comply could receive a fine of up to £3,000.

This pilot scheme, which, if successful, will be rolled out to the rest of the UK next year, has stirred up much feeling amongst the private rented sector, making it a controversial topic, with some questioning whether it is the landlord’s place to act as ‘immigration officer’ in this way. Others fear the additional weight of responsibility on private landlords might negatively affect the industry, putting people off renting out their properties as they struggle to cope with the changing legislative demands.

Neil Woodhead, Founder of Ready Rentals, who established the service from his background of more than 35 years in the property management sector nationally, explains,

“The immigration issue is a hot topic at the moment, with the government and opposition openly debating their approach to the nation’s growing problem, but I don’t see this new legislation merely having been presented as a vote-winner. Checking a tenant’s immigration status is not only beneficial to the country as a whole, it also helps the landlord to feel more assured that they will receive their rent successfully.

“For some it can feel as though the legislation that private landlords have to follow is constantly changing, and this can be daunting for many. Yet it is important that private landlords face this, and other legal demands placed upon them, in a thorough manner – the result is legal compliance and a professional service for tenants, a win-win for all.”

Just one of the issues that Ready Rentals will address, the new immigration laws will be fully supported by the service, providing landlords in the West Midlands and further afield when it is rolled out, with access to all the advice and referencing systems needed to ensure that they meet the new demands of the immigration legislation.

An online system available for an affordable annual fee, the newly launched Ready Rentals will make the life of a private landlord easy and the service they offer legally compliant and seamless, addressing concerns and providing invaluable answers to problems faced by individual landlords. This is achieved by providing access to all the documentation needed to become a private landlord, a tailored system to suit individual needs; continually updating advice on statutory regulations and letting a property; providing the ability to market online to major portals; giving information on general marketing and advertising; and everything else needed to function as a successful landlord – all at the click of a button!

Regulated by the Royal Institute of Chartered Surveyors (RICS), as well as a Member of the Ombudsman Services Property which allows landlords to manage their portfolio with confidence, Ready Rentals is accessible from anywhere in the world and currently supports landlords with properties in England, Wales or Scotland.

Combining invaluable experience in the rental sector with a cutting-edge online system that forms the basis of Ready Rentals, the result is an innovative new service which aims to provide much-needed assistance for currently unsupported private landlords, allowing them to deliver a professional and legally compliant servicewith ease and peace of mind.

For more information about Ready Rentals visit www.readyrentals.co.uk or call 0141 212 9120.