That’s Amore! Is an Italian property the ultimate Valentine’s gift?

That’s Amore! Is an Italian property the ultimate Valentine’s gift?

by Kate Italy

With Valentine’s Day just around the corner, men (and women) across the country will begin to turn their thoughts to all things love – hearts adorn shop windows, with red and pink displays urging lovers inside, cards are signed with question marks adding intrigue to secret flirtations, and the sale of red roses, in exclusive florists to petrol stations, flourish.

But what do you buy the woman or man that has everything? One man thinks he has the perfect solution, as was proved when he bought the ultimate present for his wife: a holiday home in the country synonymous with love – Italy!

James Mason, a commodity trader from London, was at a loss knowing what to buy his wife Jenny, knowing that as a self-proclaimed workaholic, what she would really like, more than anything, would be more quality time with him, something he found difficult in the shadow of the demands of his successful business.  Yet with three young children and a shared love of Italy, James hatched a plan, a plan that would result in him giving his wife the most amazing present she could ever wish for.

Visiting Italy, James met with Dawn and Michael Hobbs, owners of property company, Appassionata, who have themselves made the region of Le Marche home and today specialise in renovating beautiful traditional properties, available for purchase through their fractional scheme. James explains how he instantly fell in love with the property and region, realising it was perfect for his young family, and it was his love for his wife that prompted the next step,

“I thought my wife would love the property and as I didn’t have a present for her I ended up securing the property before she’d seen it. She would be blown away!”

And James wasn’t wrong. Buying as the ultimate surprise through a company called Appassionata, added even more sparkle to James’ purchase, aptly-named for the most romantic of gifts, yet he did not stop there. He also organised for Jenny to make her first ever trip to the property with three of her close girlfriends, where they could enjoy a child-free weekend in their new home.

As they lazed by the pool, walked along the beach and hit the designer outlets, Jenny reflected on her gift, the share certificate wrapped by Dawn in luxurious paper, trimmed with a beautiful ribbon, granting James many brownie points. She could only keep remarking, “I can’t believe James bought this for me, he’s never done anything like this before!”

In awe of her new lifestyle, made possible thanks to her loving husband, Jenny was as keen on the concept of fractional ownership as her husband. Knowing that their ownership gave them five weeks’ usage a year, she realised that this would mean planning when they would use their allowance, ensuring that they prioritised their family-time together and provide a greater balance to their life and work.

Appassionata’s latest project, Casa Tre Archi, is located in the medieval hilltop town of Petritoli in Le Marche. This three-bedroom townhouse is beautifully unique, being built into the town’s ancient walls, part of the entrance turrets, and featuring a turret wall as part of the property’s lounge!

But what makes Casa Tre Archi the perfect destination for romance? Featuring beamed ceilings, cosy décor of delightful, traditional Italian architecture paired with stunning modern additions make Casa Tre Archi the ultimate romantic bolthole. Not only this, but the property also boasts its very own rooftop terrace, perfect for candlelit dinners and long lazy drinks, whilst marvelling in the exquisite views from the house’s hilltop location, twinkling lights below and stars above. Close to excellent local restaurants, Casa Tre Archi provides a taste of the true Italian life, la dolce vita, and the opportunity for the ultimate declaration of love.

So this Valentine’s Day, it is not just in Napoli where ‘the moon hits your eye like a big pizza pie’, Petritoli is THE location for ardour, and Casa Tre Archi is the ideal love nest. A thoughtful Valentine’s gift with a difference – That’s Amore!

A 1/10th share in Casa Tre Archi is priced at £65,000 for five weeks annual usage. For more information visit www.appassionata.com or contact the Appassionata team on +39 33154 13225. 

Regulation alterations! What changes will 2015 bring for private landlords?

Regulation alterations! What changes will 2015 bring for private landlords?

by Kate United Kingdom

With increasing numbers becoming part of the private rented sector, growing numbers of new landlords are following suit, often without any relevant experience or ample knowledge behind them. Yet in a sector where “I didn’t know” isn’t an excuse and regulative demands seemingly ever-changing, it’s imperative that all those in the buy-to-let market know the letter of the law when it comes to their properties.

Neil Woodhead, Founder of Ready Rentals, an online resource that provides self-managing landlords with the tools and support needed to deliver a professional and legally compliant service, gives an insight into ‘Five 2015 Regulation Alterations’ set to drastically impact upon the private rented sector this year:

  1. Right-to-Rent

“As of 1st December 2014, landlords in Birmingham, Walsall, Sandwell, Dudley and Wolverhampton can now face fines of up to £3,000 if they fail to determine whether their tenants legally have the right to live in the UK before granting a tenancy. The new legislation deems that they carry out the appropriate immigration checks, or ‘right-to-rent’ checks first or risk receiving a fine of up to £3,000.

If these trials are successful, the new measures could be rolled out across the rest of the country as early as March/April this year. With the 2011 census records showing that over 1.5 million people living in private rented housing have no passport, campaigners not only fear that this added bureaucracy could drive up illegal tenancies, poor housing conditions and discrimination, but it could also mean that tenants lose access to housing, simply by not having the proper identification. It is, however, imperative that all private landlords follow these rules and we wait with baited breath to see if the scheme becomes law throughout the entire country.”

  1. Stamp Duty

“In his autumn statement, George Osborne unveiled a major overhaul of the stamp duty system. These changes should, in theory, mean that private landlords are paying lower costs when purchasing investment property in 2015. Hopefully this move will attract more landlords to the market and, in turn, encourage existing landlords to expand their portfolios too.”

  1. Selective Licensing

“Selective Licensing is intended to address the impact that poor quality private landlords and anti-social tenants have on the market. Areas covered by such schemes require landlords to obtain a licence and those that fail to do so could face a fine of up to £20,000 and sometimes even the authorities taking control of the property.

Though a 2013 poll by Paragon Mortgages found that 74% of landlords thought that selective licensing would deter new landlords to the industry, this was overlooked by the Government and the scheme was first introduced by Newham council. Whilst there have been instances of the scheme failing – in December 2014 a High Court judge quashed a selective licensing scheme that Enfield Council was seeking to apply to the whole borough, ruling that the local authority had failed to consult those outside the area who were likely to be affected and failing to consult for a sufficiently long period – many local authorities have adopted the scheme.

Sheffield, Croydon, Rotherham, Brent, Waltham Forest, Liverpool, and the Wirral will all go ahead with selective licensing schemes in the first half of 2015 and with the passing of the Housing (Wales) Act 2014 making it a mandatory requirement for landlords and letting agents in Wales to register in order to let and/or manage property, it is important that landlords check their local council’s website to find out whether a selective licensing scheme is in place or if a HMO licence (House in Multiple Occupation) and what type is needed.”

  1. Water Debt

“There is now a legal obligation on all landlords with properties in the Welsh Water (Dwr Cymru) and Dee Valley Water areas to share certain data about their tenants with their water company. After 21st January 2015 if landlords within these areas fail to supply the relevant information for their existing tenants they could find themselves jointly liable for their tenants’ water debt. One to watch out for anyone owning and renting out a property in Wales this year and going forwards.”

  1. Universal Credit

“Affecting 1.6 million tenancies, Universal Credit is now a feature of almost 100 Jobcentres across the UK and is set to be in one in three by Spring 2015. Bringing together six benefits and tax credits into a single monthly payment, this welfare reform aims to provide a simplified means-tested benefit system, providing an income to those out of work, as well as those on low incomes.

Critics argue that the benefit cap could harm larger families, force people to move to poorer areas (increasing ‘low-income ghettos’), make it much harder for benefit tenants to enter the private rented sector and penalise those who do not have access to and/or the skills to pursue an online application, thus creating more debt and homelessness in the process. Only time will tell whether the reformed welfare system is working or not along with whether there will be further delays, felt previously due to the new IT systems involved.”

 

Subscribing to a system such as Ready Rentals will support private landlords with all these legislative changes and more, including: main portal marketing, automated creation of all the documentation needed to successfully manage a property, advice on all procedures, notifying utility companies of changes, notification of anniversary dates, an income and expenditure log, as well as a legal and financial helpline and a weekly newsletter rounding up weekly news in the industry, Ready Rentals provides everything needed for private landlords.

For more information about the Ready Rentals service for private landlords and how it can support new and existing landlords, available from just £20 per month (including VAT), visit www.readyrentals.co.uk or call 0141 212 9120.  

Rise in silver landlords building ‘piecemeal portfolios’ as pension reform approaches

Rise in silver landlords building ‘piecemeal portfolios’ as pension reform approaches

by Kate United Kingdom

The government’s proposed pension reforms, coming into play from April 6th this year, are set to radicalise the property industry, with many on the brink of retirement looking to the sector as a way of keeping them in the lifestyle they are accustomed to once they reach retirement age. The financial freedoms the reforms allow mean that increasing numbers are purchasing property for buy-to-let purposes, joining the growing numbers of private landlords.

Neil Woodhead, Founder of Ready Rentals, an online support service for private landlords, and long-time industry expert, at the helm of letting agent Castle Estates in Glasgow, explains that this is a trend that they are certainly witnessing,

“In recent months we have certainly noticed a greater interest from those approaching retirement in becoming a part of the buy-to-let market in response to the new legislation. Some of these ‘silver’ clients are looking to release money from their pension and others have had money tied up in bonds that are coming to an end and, with the increased talk around the growing private rented sector and the potential therein, many are looking at this as a new approach to funding their retirement years.”

Other silver buyers are approaching the buy-to-let market from another interesting angle when it comes to funding their retirement – these are creating a ‘piecemeal portfolio’, having previously purchased a single large buy-to-let property and, in light of the changes in the market, are diversifying their investment by selling the property to purchase two or more smaller rental properties instead.

The reasoning behind this move is a decision to purchase cheaper properties in areas where long-term capital growth is not as substantial but shorter-term rental yields are.

Neil Woodhead explains that this is a new emergence in light of the imminent pension changes,

“One client has sold a modern flat for £160,000 (originally bought for £110,000) and has now purchased two single bedroom flats in a cheaper area instead for £28,000 each. This move has ensured that his rental per month has in fact grown from £550 per month to a figure of £730 per month.

“Upon retirement he originally had the view to sell the property and reinvest in a pension fund but instead took the option to change tack. In reality, when it came to retirement he could see greater benefits in looking for regular rental income rather than longer term capital growth and his story provides a good example of how those of retirement age are now looking at bricks and mortar differently.”

It certainly seems to be a growing trend. A recent survey by Platinum Property Partners revealed that a third of those heading for retirement are considering purchasing a buy-to-let property or properties. The current shortage in available rental stock is set to continue, with even the growing number of private landlords unable to make up the shortfall anytime soon, therefore providing great opportunities for those looking to enter the industry in 2015.

Yet it is not without its pitfalls. It is often all too easy for new landlords, retirees or otherwise, to overlook the added costs of operating in such a sector, something that differs substantially to an investment in stocks and shares for example.

Ongoing repair bills, the correct vetting of tenants, putting procedures in place to ensure everything is managed efficiently and keeping up to date with ever-changing legislation and legal requirements means that too many will fall fowl to the perils of naivety and inexperience.

Neil Woodhead has the following tips for those on the brink of retirement and looking to join the buy-to-let sector in 2015:

  • “A buy-to-let investment is not one where you can simply sit back and watch your money grow. Whilst there is potential to generate a healthy retirement income, it is important to be realistic and ensure that you factor in the additional costs you will have to incur when managing a property. Do your sums in advance!”
  • “Make sure you don’t fall foul of legal requirements. The buy-to-let sector is a regulated industry that can appear daunting to even the most experienced of landlords. Using a service such as Ready Rentals to self-manage your property will make sure that you keep abreast of any legislative changes and don’t encounter legal problems along the way. Everyone wants a stress-free retirement!”
  • “When choosing precisely where to purchase your property, the best location may not necessarily be on your doorstep. Whilst there are obvious benefits of buying close to home, you may find that looking further afield can offer greater rental yield opportunities. Even if it is not somewhere that you would choose to live yourself, that is not a concern, remember that this is an investment for arguably the most important time in your life. Do your research thoroughly!”

For more information about the Ready Rentals service for private landlords and how it can support new and existing landlords, available from just £20 per month (including VAT), visit www.readyrentals.co.uk or call 0141 212 9120. 

Developing Durrës: New European property hotspot emerges

Developing Durrës: New European property hotspot emerges

by Kate Albania
  • 500% increase in number of new building permits issued in Durrës in Q3 2014 (INSTAT Quarterly Statistical Bulletin)
  • 265% increase in value of building permits issued in Albania in Q3 2014 (INSTAT Quarterly Statistical Bulletin)
  • Almost 60% of investors looking to ‘risk’ markets when growing portfolio (Colliers International ‘Global Investor Sentiment Report 2015’)

Albania’s second largest city, home to the Balkan country’s main port and thriving commercial centre, and just 150km across the water from the Italian coast, is Durrës, a city that is currently undergoing a renaissance thanks in part to a financial boost from EU funds. With the government focussing wholeheartedly on cleaning up the city and surrounding areas through demolishing illegal developments, planting more trees and rejuvenating the coastline, the wide-ranging regeneration of Durrës is well and truly underway.

The figures speak for themselves. As of the tail end of last year, INUK was reporting the tearing down of 230 illegal buildings in the city, with the coastline being rejuvenated and redeveloped in a positive standout move by the Albanian authorities.

As part of this move, there has been a large increase in the number of new building permits granted in the Durrës prefecture, according to the Quarterly Statistical Bulletin of the Albanian National Statistics Office, , recording a massive 500% increase in figures in Q3 2014, compared to the previous quarter.

Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa, situated in the Durrës region, explains why this is an exciting time for the area,

“Durrës, and the surrounding areas which includes Lalzit Bay to the north, is a wonderful region of Albania. It’s fantastic to see that the government is giving it the dues it deserves by cleaning up not only its coastline but its public image in turn. You wouldn’t necessarily visit central Durrës for the beaches as there are stunning beaches and resorts to the north and south, but a greener Durrës will mean a more appealing location for those looking to holiday and buy property in the area. These positive figures coming out of the region are a testament to the hard work being done by the new government, as well as the potential for investors. This is a very positive development for investors in Albania.”

This spotlight on Albania’s second city is within the context of a positive period for the country as a whole, as it continues to move towards EU status. The latest INSTAT Quarterly Statistical Bulletin has also revealed a huge increase in the value of building permits issued in Albania as a whole, from 6,404,601 lekë in the second quarter of 2014 to 23,370,865 lekë in the third quarter, a massive 265% increase in just three months, whilst the size of permits granted for new buildings grew by 182% year on year, to 584.814 m² in Q3 2014.

This growth in the country’s construction industry comes at a time when visitor numbers are reaching new highs, ensuring the property and tourism increases are working hand-in-hand to result in an exciting period for Albania. The number of foreign citizens arriving on Albanian shores totalled 1,779,569 in Q3 2014, up 118% on the previous quarter’s figures of 815,196. Of these, some 1,617,264 were of European descent, with this faction growing by an outstanding 109% within a three month period.

Yet it is not just these impressive statistics that are ensuring that Albanian shores are appearing increasingly attractive to those looking to buy property outside of their own country. The Colliers International ‘Global Investor Sentiment Report 2015’ has revealed that EMEA (Europe, Middle East and Africa) investors are more and more looking to ‘risk’, or emerging, markets such as Albania when growing their portfolios, with almost 60% stating that this is now the focus for their capital.

And with Durrës such a hotbed for growth, this is one area which they are sure to focus upon. An example of the ideal investment opportunity in this region is Lalzit Bay Resort & Spa, a five-star, beachfront resort boasting luxurious facilities and standout views of the beautiful sandy beaches and Dajti mountain range. Just 30 minutes from Durrës and boasting a beach club, range of top restaurants and bars, tennis courts and boutique shops, Lalzit Bay Resort offers a range of properties built at low density and to the highest of standards.

1 or 2 bedroom apartments and 3 or 4 bedroom villas with private pools are inspired by California’s elegant and modern beachfront properties and are priced from €35,000 to €360,000.

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

The new Silicon State: Florida boosted by medical cash injection

The new Silicon State: Florida boosted by medical cash injection

by Kate United States
  • Visit Florida bringing new $2.5 million grant to state’s medical tourism industry
  • Set to dramatically grow demand for local housing stock for both visitors and workers
  • Brookes & Co’s The Club at Sunset Lake offers chance to capitalise on investment opportunity

Tourism has long-since been Florida’s economic mainstay, with the state – and it’s vacation-epicentre of Orlando – becoming synonymous with Micky Mouse, theme parks, year-round sunshine, beautiful beaches and family holidays. Yet, the Sunshine State is not resting on its laurels, not content just to be the world’s entertainment forerunner, a new money-maker is in town and it is set to shake the region’s tourist industry up.

In an unparalleled move by Visit Florida, the state’s tourism body, a brand new $2.5 million grant programme has been announced to support the growth of the state’s medical tourism industry, setting Florida up as the go-to US destination for medical procedures, including cosmetic surgery. The new grant will be used to greater promote the medical tourism services on offer in Florida, as well as to encourage more medical professionals to make the state the location of choice for their industry meetings, conferences and training courses, in turn boosting the sector considerably in a move that is the first of its kind.

This boost is set to see a dramatic effect on the local economy, bolstering the state’s finances directly through spending but also by expanding the need for housing stock, be it for those visiting or for the increasing number of workers being employed in the medical industry in the vicinity.

Not only looking to attract domestic US medical tourists, the new approach for the Florida tourism industry is also aiming to attract worldwide visitors looking to marry their medical procedures with the confidence of being treated in the US and the relaxed atmosphere and warm climate of the ever-popular Sunshine State. And cosmetic surgery in the US is increasingly big business. According to the American Society for Aesthetic Plastic Surgery (ASAPS), the number of such procedures grew by 6.5% from 2012 to 2013, with Transparency Market Research (TMR) revealing that the CAGR (compound annual growth rate) is due to increase by a staggering 17.9% from 2013 to 2019 globally.

With the South Atlantic Region that includes Florida making up some 19% (310,441) of the country’s total cosmetic procedures in 2013, up 1% on 2012’s figure of 292,579 (according to ASAPS), and the injection of the new grant on the horizon, this is set to expand on a large scale for the new ‘Silicon State’. Philip Button, Managing Director of leading property investment company, Brookes & Co, who have been working in the Florida market for over a decade, explains,

“There is no denying that in today’s body-conscious society, cosmetic surgery is big business and with current estimates stating that $5.2billion is already being spent by 375,000 of the US population on medical tourism in Florida, it is clear that the Sunshine State has more to offer than just the traditional fun-in-the-sun image it has become world-renowned for. And with $2.5 million set to be injected into the market to further develop this potential, the opportunities for growth are immense.”

And Florida is already making inroads into this growth. The ground-breaking 650 acre Lake Nona Medical City, being developed in Orlando that is due to be completed in 2017, is not only on track to create 30,000 jobs but also to generate $7.6 billion wealth for the economy, an undeniable impact. The results of this are that not only are there increasingly ample opportunities for investment in the Florida property in market for renting to visiting medical tourists but also for savvy investors to buy into the domestic market set to boom as a result of the growing jobs in the sector.

One such project that illustrates this growth opportunity is Brookes & Co’s Orlando project, The Club at Sunset Lake, whose successful first phase that sold out in record time can in part be attributed to the close proximity to Lake Nona Medical City. Seeing the launch of a highly anticipated phase two of the development, now is the opportune time for buyers to secure their part of this investment project that offers a 5-year rental guarantee with a 6% return after all costs.

The Club at Sunset Lake has been designed to meet the needs of Florida residents who are seeking rental properties of a superior standard, whilst being close to all amenities and boasting facilities of the highest quality. The luxurious facilities, including an exclusive club house and swimming pool, fitness centre and spa, sports courts and cycle paths, as well as a lake-front park and picnic area, ensure that The Club at Sunset Lake makes the most of its beautiful setting. The spacious two, three or four bedroom properties are priced from £96,950, the larger also with garages.

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 a difference two years makes! Florida rises fast in the rankings as market flourishes

What a difference two years makes! Florida rises fast in the rankings as market flourishes

by Kate United States
  • Florida rises 15 places in ‘24/7 Wall St Best and Worst Run States in America’ rankings from 42nd in 2012 to 27th in 2014
  • Florida placed fifth in a ranking of the best business climates in the US (Tax Foundation’s State Business Tax Climate Index)
  • Brookes & Co offering excellent opportunity to invest in growing market through The Club at Sunset Lake

Just two years ago, in 2012, prospects for the US’ ‘Sunshine State’ were less than bright, with skies having clouded over during the economic downturn and no real signs of a break in the grey. The state was placed at 42nd in the ‘24/7 Wall St Best and Worst Run States in America’ rankings, with economic recovery seeming little more than a glimmer of hope on the distant horizon. Yet just two years on, Florida has risen 15 places in the rankings to take its place at 27th. Having moved up ten places in the last year alone, the state has made confident strides in this important ranking that measures key financial ratios, as well as social and economic outcomes and in turn provides a thorough measure of the monetary health of America’s states, some would say ‘the state of the states’.

Yet these are not the only encouraging signs for Florida as it progresses in leaps and bounds. Debt per capita has dropped to $1,952 – the ninth lowest in the country – and the state has been awarded credit ratings of AAA by S&P and Aa1 by Moody’s. The Tax Foundation’s State Business Tax Climate Index has also recognised Florida’s progress of late, placing it fifth in a ranking of the best business climates in the US. Though the current unemployment rate, at 7.2%, remains a little above the national average, it has contracted massively over the past two years and Florida is today seen by many as an excellent place to do business.

Florida is not, however, merely a place in which to work, although many do commute to the region for business purposes, many others relocate to the state for employment reasons in a permanent move that in turn has a knock-on effect on the domestic property market. For according to the 24/7 Wall St report, 3.2% of Florida’s population had migrated to the state since mid-2010, as Philip Button, Managing Director of leading property investment company, Brookes & Co, explains,

“Some 600,000 people from other states and from overseas have moved to Florida within the last few years and this influx has put pressure on the region’s housing resource. Professionals moving into the area seek out accommodation that meets their standards and this in turn provides excellent opportunities, growing opportunities as the workforce grows, for investment in the domestic property market.”

Brookes & Co’s recently launched Florida project, The Club at Sunset Lake is situated in Orlando and offers exactly this kind of opportunity to invest in the flourishing domestic market. The project has been designed to meet the needs of Florida residents who are seeking rental properties of a superior standard, whilst being close to all amenities and boasting facilities of the highest quality.

The luxurious facilities, including an exclusive club house and swimming pool, fitness centre and spa, sports courts and cycle paths, as well as a lake-front park and picnic area, ensure that The Club at Sunset Lake makes the most of its beautiful setting. Properties are spacious, the larger properties also with garages, and range through two, three and four bedroom properties.

Supporting the development of Florida’s high spec housing offering, the opportunity speaks to the strength of Florida’s recovery, with investors looking to be part of the Sunshine State’s future thanks to the progress that it has made in recent years. The state does still have some way to go, however, with house prices remaining some 16% lower than they were in 2009, according to 24/7 Wall St. With prices are rising, from a property investor’s perspective, this is good news, as depressed prices are likely to rise back to (and beyond) their former peak, meaning that those putting their money into the project can grow their capital over a period of several years, enjoying strong yields while they do so.

Properties at The Club at Sunset Lake are priced from £96,950 and the project offers a 5-year rental guarantee with a 6% return after all costs.

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

7 New Year’s Resolutions for Private Landlords

7 New Year’s Resolutions for Private Landlords

by Kate United Kingdom

2014 has been a year of great change for private landlords. With the private rented sector taking more responsibility for the provision of housing in the UK, as many continue to struggle to get a mortgage with the high deposits needed to secure a home and more and more concerned about rising house prices, the sector will come under ever-greater scrutiny come the New Year.

In fact, as the dawn of 2015 looms, greater transparency will be demanded of landlords and it is even more key that they keep abreast of changing legislation as well as the condition of their properties as winter takes hold. With this is mind, now is the time for landlords to make their very own New Year’s resolutions and plan for a prosperous and stress-free future in 2015 and beyond.

Neil Woodhead, Founder of Ready Rentals, an online resource that offers self-managing landlords with the support to provide a professional and legally compliant service, gives his suggestions for 7 resolutions that private landlords should keep this New Year:

  1. Don’t forget your anniversary!

When is your gas safety, electrical, flue and PAT testing due? When is your insurance up for renewal? Miss the dates and you could end up being prosecuted, so it is important that you keep a close track of all anniversary dates. Logging them with Ready Rentals’ online support system means that you will be notified well in advance of upcoming dates and reminded weekly thereafter to ensure that nothing is overlooked or forgotten. Now if only there was a similar system for your wedding anniversary!

  1. What’s your policy?

Does your insurance policy cover accidental and malicious damage, letting to unemployed tenants, 30-days void occupancy levels and loss of rent, or does it have a minefield of exclusions in the small print? If your policy is not yet up for renewal, make sure this New Year you have a good look at your current documentation and ensure that you are fully covered. If and when it is due for renewal and you’re looking around at other policy options, make sure you read everything thoroughly as it could mean the difference between a payout and a huge headache!

  1. Have a thorough MOT!

When did you last inspect your rental property, check meter readings for adverse usage, assess general wear and tear or damage and update your inventory? While you have a bit more free time, start planning arrangements to visit the property in the New Year to ensure everything is up-to-date and there’s nothing that needs addressing.

When was the last time you checked for condensation and were the tenants advised of how to deal with these issues to reduce the risk of damage to their health and your property? Do the smoke alarms and CO2 detectors work? Are all the appliances functioning and have any unauthorised alterations to the property or fixtures been made? This can all sound very daunting but can be made far simpler with the use of templates that can be populated online.

  1. Keep tenants cosy this winter!

Make sure you are providing systems that are operating successfully to ensure that your tenants are warm as the weather turns colder when January hits. Has your boiler been serviced and all your pipes and radiators checked for leaks? And do you have emergency cover in place in case of any emergencies? Make sure you also check that your loft insulation is up to current standards and consider additional measures to reduce draughts and increase the ability of your property to hold heat. All this makes a more comfortable home for your tenant, important measures for ensuring long-term rental and energy-efficiency.

  1. Are you on track?

Check your current tenancy documentation is up to date and that it takes into account the changes brought about by recent legal cases and alterations in government policies. Make sure they comply with the correct notice periods and tenant deposit rules. Legislation is something that is not static for long, especially when it comes to the private rented sector, and therefore staying on top of any changes or alterations is key to staying within the bounds of the law. Ready Rentals can help by providing regular newsletters to landlords registered with the system, they will be notified of any changes and the online documentation updated accordingly.

  1. Make the most of your assets!

First impressions count and whilst many make the resolution to join the gym and exercise regularly come the New Year in the pursuit of the perfect physique, the private landlord should be looking to the improve the appearance of their property, especially when it comes to marketing it to prospective new tenants. Ensure that the property is presented in a professional manner, whether it is de-cluttering if it is furnished, trimming back hedges, redecorating to make sure walls and skirtings are clean and neat or fitting new handles to doors.

Whilst being supported by a regulated agent, make sure that you have good quality photographs to show off your property and use a range of property portals to market and secure as much interest as possible from renters.

  1. Become more eco-aware…

This may seem a long time away but by April 2018 new legislation will have a significant impact on properties with an energy rating below grade E and if Labour gets into power they are proposing an increase to grade C. If your properties do not meet these minimum levels you will not be able to make them available to let, so as we head into 2015 now is the time to budget for and programme any works required to raise your property’s standard.

To add further pressure to private landlords, from 1st April 2016, private domestic tenants will be empowered to request consent for energy efficiency measures that may not unreasonably be refused by their landlord. Now is the time to become more ‘green’ and look at what you can do to improve your property and in turn help the planet.

Don’t make resolutions you can’t keep this year, treat yourself or a private landlord-loved one to a Ready Rentals subscription this Christmas to ensure you are one step ahead going into 2015. The perfect last minute Christmas gift, usually £20 per month including VAT, Ready Rentals are offering a 15% discount for a limited number of landlords this Christmas time. See here for more.

For more information about the Ready Rentals service for private landlords, visit www.readyrentals.co.uk or call 0141 212 9120.

Cycling tourism booms as new Mediterranean Route reveals Europe’s hidden ‘Land of the Eagles’

Cycling tourism booms as new Mediterranean Route reveals Europe’s hidden ‘Land of the Eagles’

by Kate Albania
  • Cycling tourists spend on average £25 a day within the local economy, compared to a car visitor’s spend of just £7.30 (CTC’s ‘New Vision for Cycling’)
  • The newly proposed EuroVelo 8 cycling route, to be known as ‘The Mediterranean Route’, will encompass 11 countries, including Albania
  • Lalzit Bay Resort and Spa, 30 minutes from Tirana through which new route will pass, offering chance to invest in growing market

Cycling tourism is big business. Providing the freedom that many seek in a holiday, an escape from the rat-race, a back-to-basics way to see new landscapes, a feeling of being at one with nature, a healthy break, not to mention an eco-friendly way to travel, exploring on two wheels is becoming THE way to holiday.

And the economic effects are obvious. The European Cyclists’ Federation (ECF) has shown that some 655,000 people are today employed as part of the continent’s cycling industry, with CTC’s ‘New Vision for Cycling’ revealing that a two-wheeled tourist spends, on average, £25 a day within the local economy, comparing extremely favourably with a car visitor’s spend of just £7.30.

And cycling tourism is becoming more and more popular. Macs Adventure, a cycling and walking tour operator, specialising in tailor-made adventures in the UK, Europe and around the world, has recently revealed a 124% increase in cycling tour bookings for 2014 year-on-year, cementing the notion that increasing numbers of tourists are hopping on their bikes and exploring as part of their holiday plans.

The impact of more televised cycling events such as the ever-popular Le Tour de France in Yorkshire this summer, with Leeds staging the iconic Le Grand Départ, is clear to see. Not only did the Premier Inn hotel chain witness a 67% growth in bookings of people bringing a bicycle, reports have also claimed that Le Tour had a £150 million positive impact on Yorkshire’s economy.

Le Tour provided the inspiration many needed to get on their bikes and not only are more people now cycling within the UK, many are now also taking their bicycles on an exploration of more far-flung territories.

Responding to the undeniable growth in the industry, EuroVelo, a network of long-distance bicycle routes throughout Europe, has announced the development of a new, much-anticipated route from Spanish Cadiz to Cypriot shores. The EuroVelo 8, which will be known as ‘The Mediterranean Route’, will encompass 11 countries (Spain, France, Monaco, Italy, Slovenia, Croatia, Bosnia-Herzegovina, Montenegro, Albania, Greece and Cyprus) and span some 5,900 km.

Forming an important and popular part of EuroVelo’s proposed 70,000 km network, the route’s planned navigation of Albania’s Shkodra, Tirana and Durres cities is an exciting addition, as Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“The newly proposed ‘Mediterranean Route’ will offer much to the experienced and novice cyclist alike and, once reaching Albanian trails, is sure to open visitors’ eyes to the countless natural wonders of this European gem.

“Sweeping, beautiful landscapes and climbs of extensive, breathtaking mountain ranges provide the chance to discover the true Albania: a stunning, untouched land of authentic and undiscovered culture, extremely affordable prices and friendly, welcoming locals. Sure to put beautiful Albania on the map, and contribute to the country’s growing tourist numbers.”

Not only is the new EuroVelo 8 route through the ‘Land of the Eagles’ sure to encourage a further tourism boost as Walshe anticipates, the new literal connection to its European neighbours also marks an important association for the Balkan nation with the rest of Europe. This has been further cemented by the recent announcement that Albania has been granted EU Accession status, as the country edges closer to its goal of becoming an official EU nation.

With an untouched, diverse landscape, newly emerging European links, booming tourist market and now the proposed network making the country a major part of Europe’s eco and cycling tourism market, now is the time to consider a strategic investment in Albania.

Lalzit Bay Resort and Spa, just 30 minutes from Tirana through which the new ‘Mediterranean Route’ passes, is the ideal investment option for those looking to capitalise on the growing Albanian market, as well as those looking to visit the beautiful country themselves, on two wheels or otherwise.

The five-star 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

Oh I do like to invest by the seaside!: Buying “beach-to-let” is hot year-round as number of remote landlords increases

Oh I do like to invest by the seaside!: Buying “beach-to-let” is hot year-round as number of remote landlords increases

by Kate United Kingdom

Even as winter descends on the UK, with coats being pulled tighter against freezing winds and noses turning nippy with the onset of frosty mornings, seaside resorts are hot for buy-to-let investors.

Data released by international bank HSBC has shown that the top two ‘Buy-to-Let Hotspots’ in the United Kingdom are both by the sea – Southampton and Blackpool. Resort towns are hugely popular summer-destinations, especially with the recent trend for staycations and, coupled with the increased residential demand created by a desire of many to live by the sea, rental demand is high.

This was reflected in the HSBC results that showed landlords in front-runner Southampton to be raking in epic gross rental yields of 7.82% (with average property prices standing at £138,311 and average monthly rentals being £901), with second place Blackpool following closely behind, averaging a 7.81% yield from average monthly rents of £494 and average property prices of £75,943.

Proving that there is money to be made by buying beach-side, the results from the HSBC research are noteworthy given the general assumption that the most money is being made on London’s ‘streets paved with gold’, whereas, in fact, the high rental rates fail to match the giddy heights of the capital’s property prices, leading to lesser yields than elsewhere in the UK.

And it is no longer simply those who are lucky enough to live ‘beside the seaside’ who are investing in property at the beach, the growing trend of the remote landlord proves that more and more people are making their buy-to-let investment away from their local area, beachside or otherwise.

Residential letting agency, Castle Estates Residential Letting Agents in Glasgow, active for a decade in the local property area, have released statistics of where their registered landlords are coming from and the results make for interesting reading.

A staggering 67.6% of Castle Estates’ 267 current landlords are remote, i.e. not resident themselves in the area where the property is located. Of this figure, 52.3% are UK-based but not local to the area and 15.3% are from overseas.

Neil Woodhead, Founder of Castle Estates Residential Letting Agents, says,

“We have certainly seen the growth of the ‘remote landlord’ in recent years, with landlords now registered from places as far-flung as Australia, Thailand, Switzerland, South Africa, and Canada – not to mention Surrey, Berkshire, Essex, West Sussex and London – still a long way off when you’re based in the West Central Lowlands!

“And this trend is set to continue with the recently announced pension changes and the additions just given in the Chancellor’s Autumn Statement, with more people likely to invest their released pension pot in property than ever before. These people will be looking around for where best to invest and many will see that this is outside of their own region.”

From his background in the industry, stretching to over 35 years in total, Neil Woodhead has recently launched Ready Rentals, an online system that provides self-managing landlords with the support to provide a professional and legally compliant service. A service that is particularly pertinent to remote landlords, as Neil explains,

“Managing property can be difficult at the best of times, but for a remote landlord, things can be even tougher. It is important that you have support services and structures in place to ensure that you keep up-to-date with changing legislation and the important paperwork that comes with being a landlord, not to mention dealing with any issues that may arise in a timely and professional manner. The Ready Rentals service can help with all these things – and more.”

Offering a wide range of support systems all in one place, from main portal marketing, automated creation of all the documentation needed to successfully manage a property, advice on all procedures, notifying utility companies of changes, notification of anniversary dates, an income and expenditure log, as well as a legal and financial helpline, Ready Rentals provides everything needed for remote landlords.

And being an online service, the system is accessible from all around the world for landlords of properties in England, Wales and Scotland. RICS regulated and available from just £20 per month including VAT, Ready Rentals is the Christmas must-have for all landlords, remote and otherwise.

For more information about the Ready Rentals service for landlords, visit www.readyrentals.co.uk or call 0141 212 9120.

Job growth propels Florida property investment market

Job growth propels Florida property investment market

by Kate United States
  • Florida unemployment figures at 6%, lowest rate since June 2008 (Department of Economic Opportunity)
  • Strong domestic demand for housing driven by four key factors: Leisure, Transport, Medical, and Agriculture (Philip Button, Brookes & Co)
  • Brookes & Co domestic investment project The Club at Sunset Lake 83% sold in under four weeks

Florida’s Department of Economic Opportunity has revealed that the state’s unemployment figures now stand at the lowest rate since June 2008, a figure of 6% in September. Not only this but the ADP Regional Employment Report also showed that Florida grew the private sector by 20,050 jobs in October, meaning that 2014 looks as though it will be closing on a positive note for the state’s employment industry.

When considering the fact that just a year ago, Florida’s jobless numbered on average 7.2% in 2013, and a less than giddy figure of 11.3% in 2010, the ‘Sunshine State’ has come a long way in recent times, making firm progress in this important indicator for the country’s wealth. The knock-on effect of the increasing stability in Florida’s job market is that the property market is also, not only stabilising, but growing with optimistic fervour.

This is especially true for the domestic market, an often un-thought-of sector in the shadow of the bright lights and Disney magic of the tourism sector, yet boasting excellent investment prospects, especially within the context of the bolstered regional employment. Launching a new investment project in Orlando on 1st November – The Club at Sunset Lake – the UK’s leading property investment company, Brookes & Co, recognised this opportunity and offered, through the new project, buyers the chance to capitalise on this.

The project presents a brand new gated development to the market, situated in the heart of central Florida and close to all major amenities. With the luxurious facilities, including an exclusive club house and swimming pool, fitness centre and spa, sports courts and cycle paths, as well as a lake-front park and picnic area, The Club at Sunset Lake certainly makes the most of its beautiful setting.

Offering a 5-year rental guarantee with a 6% return after all costs, from a range of spacious two, three and four bedroom properties priced from £96,950, it is clear to see why the project is the ideal investment opportunity, registering enviable success so far.

And what a success it has been. Within the period of under four weeks since the launch of The Club at Sunset Lake, Brookes & Co have sold 83% of the units available. Demand is high, but what, specifically, is driving the growing domestic market of Florida?

Philip Button, Managing Director of Brookes & Co gives his take,

“It can be said that the increasing levels of employment in the state are driven by four key factors: Leisure, Medical, Transport and Agriculture. Individually, each of these facets are key to the economic workings of Florida, but together these sectors influence not only the success of the Floridian economy but also contribute wholeheartedly to the coffers of the US in general terms.”

Leisure:

The leisure market is the go-to market when thinking of Florida, the abundance of theme parks, Disney World, Universal Studios and the like, have become synonymous with Florida’s Orlando, making the state the country’s top tourist hotspot. Disney are building several new parks over the upcoming year including Avatar Land, with Universal Studios’ ‘The Wizarding World of Harry Potter’ already a huge success and visitors soon able to ride the new Hogwarts Express! At Legoland, an expansion at Miniland and a new hotel being built to cater for demand, demonstrates how this market is booming. And with this boom comes expanded job prospects for those developing and building the projects, as well as those staffing them to cater for the record tourist numbers.

Transport:

Transportation is central to the state’s success, with rail expansion a major arena that is impacting heavily on Florida’s domestic property market. The landmark SunRail project that will revolutionise commuter travel is expected to be finalised by 2017 and is doing wonders for the local and national economy. The project is creating more employment (an independent financial study found Sunrail has the potential to create nearly 260,000 jobs) but it is growing the state’s wealth too, with a predicted impact on theUS economy of $8.8billion.With airport growth also in the pipeline, and SunRail predicted to link up to the newly expanded airport, Florida’s transport links are going from strength to strength, helping the domestic market flourish in turn.

Medical:

In the medical sector, the Lake Nona Medical City is being developed in Orlando, a groundbreaking project of such magnitude that it is set to create 30,000 jobs – an impressive impact by all accounts. In turn, this project is on track to also create $7.6 billion wealth for the economy, leading to more people working locally and therefore more people looking for rental properties. Due to complete in 2017, this makes now the ideal time to purchase a property for the purpose of renting it to the domestic market.

Agriculture:

In their latest ‘Fresh from Florida: The Journal of Florida Agriculture’, Florida’s Department of Agriculture and Consumer Services revealed that the industry was worth a staggering $108 billion to the Sunshine State, with Florida the US top producer of not only oranges but also sugarcane, sweetcorn, watermelon and squash. Florida Naturals, a leading fruit juice producer, who own over 50,000 acres of fine citrus groves in the heart of Central Florida, continue to grow, creating many new jobs in the area too.

All of this collectively has huge economic impact on the Orlando area and, in fact, Forbes recently ranked the city as number one in their report on ‘The Top 10 Cities and States for Job Growth’. In turn, this growth gives rise to significant demand for high- quality rental properties in the area for the workers and their families to live in, as has been proved by Brookes & Co’s The Club at Sunset Lake. The Sun has certainly returned to the Sunshine State!

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