For the seasoned "buy-to-let" investor here are our top tips in the current market

“Micro-manage” your rent levels – there is a tendency to lump all 2-bed flats in the same development into the same price bracket. But even flats of an identical layout and size will vary in their letting appeal. A first floor flat is regarded as more valuable because of security and privacy than a ground floor flat (unless the ground floor flat has its own private patio or garden). A Third floor flat in a block without a lift will be less valuable than the ground or first floor. Decor can be “lived in” or immaculate. The aspect of the flat will determine whether there will be sunshine for morning coffee on the balcony. So consider all the “pluses” and “minuses”, watch the rents being advertised in the rest of the block very carefully, and price your flat accordingly.

Always agree a fixed term tenancy, and when one tenancy is coming to an end, ask your tenant their intentions six weeks before the expiry date. If they are vague or do not reply, then start marketing the property to let. A well drawn up tenancy agreement will provide you with the rights of access for viewings during the last month of the tenancy, and this is your best opportunity to ensure that you will have a new tenant ready to occupy.

Advertise your property on the Internet. The last three years has seen a major change in the source of tenant enquiries at Martin & Co. Local newspaper advertising has in many parts of the country been pushed into a poor second place compared to Internet enquiries. Individual Martin & Co offices receive advice on the best Internet sites to use in their locality, as there are marked regional variations in sites effectiveness. As a private advertiser your options are more limited as many sites will only allow agents to advertise but “Gumtree” www.gumtree.com seems to be effective in most locations.

Agree to your agent erecting a “To Let” board, or if the head lease that prevents this we use “To Let” window stickers inside the flat. Boards get noticed, and remain a very effective marketing device even in this day and age.

Tuesday, 23 June 2009

Let us look after your nest egg

Property ownership combines the benefits of rental income and capital growth but it’s important to choose the right property. Buying a house or flat as an investment is very different from buying a home to live in.

At Martin & Co Whitley Bay we recognise this. As a landlord your decision should not just be based on emotion but on additional factors such as property type, location, price and condition.

Operating in the local area we can advise landlords on the potential income they can expect to receive from various property types. A landlord can also choose from a range of services including fully managed, rent collection and tenant find.

Despite mixed media reports about the property market, the less romantic world of lettings can take a more relaxed view of such media speculation compared to the more volatile world of house sales.

The lettings market is maturing and at Martin & Co Whitley Bay we will continue to strive to be at the forefront, developing and delivering exceptional service quality throughout North Tyneside, Northumberland and Newcastle.

Sunday, 24 May 2009

Martin & Co honoured as Best Letting Agency

Letting agency Martin & Co has just been awarded the UK’s ‘Best Letting Agent’ at the Estate and Letting Agency Awards (or ESTAs) in London this week.

The prestigious award was presented to Martin & Co’s Managing Director Ian Wilson by media personality and journalist Phil Spencer at Channel 4’s “Location, Location, Location”, who said “these awards are particularly special, and a true reflection of excellence in customer service as they are the only awards in the industry which are voted for by the landlords and tenants themselves. They are not easily won, and require a letting agency to achieve a consistently high level of service to their clients over a 12 month period.” Over 30,000 questionnaires were sent out to customers across the UK.

On receiving the award, Ian Wilson said “it is a privaledge to win such an award, and it is a tribute to the hard work, dedication and passion of our franchise owners and their staff. We aim only to recruit, and help our francisees recruite, only the very best in the business – those who care about giving great service! In a property industry where many sales-based estate agents have recently forayed into lettings out of necessity, this award has clearly demonstrated that landlords and tenants prefer to work with a lettings specialist who will be around next year and the year after. I am especially pleased that it was our custmoers themselves who voted for us, and I’d like to thank all those who took the trouble by taking part in this independant survey.”

This award comes only months after Martin & Co scooped Francisor of the Year award at the end of 2008.

Sunday, 12 April 2009

2009 Landlords Survival Guide Launched by Martin & Co (Whitley Bay)

Local letting agency Martin & Co, with offices in 3a Ilfracombe Gardens, Whitley Bay, Tyne & Wear, NE26 3ND have just launched their latest update for anyone currently letting, or thinking of letting, a residential property in the area.

The no-nonsense “Survival Guide for Landlords Living in Recessionary Times” offers straight-talking, good advice and is highly relevant for the current market. It certainly pulls no punches and addresses various issues head-on, such as “Do you Own a Disaster?” and “Coping with Voids”. Fortunately it also provides solutions, based on the extensive experience of Martin and Co, gleaned from over 150 offices throughout the UK network.

Commenting on the publication, local Martin & Co Director, David Barbour, said, “We trialed a newsletter for our clients last year entitled “What is happening to the UK Housing market?” which was met with an overwhelmingly positive response. It appears that landlords appreciate our head-on approach to the issues of the day, which other commentators possibly avoid as contentious.”

“We are therefore committed to continuing to provide relevant and meaningful advice to anyone with an interest in letting issues. This is a specialist field, and many are jumping on the band-wagon. However, in view of the turmoil in the property market and increasingly complex legislation, we are passionate about ensuring that our clients receive only the very best, up-to-the-minute advice from trained letting professionals who are here for the long term.”

“This newsletter will therefore be updated quarterly, and is available, free of charge, to all landlords in the North Tyneside area.” Please contact us on 0191 253 5666 for your copy.

Friday, 27 February 2009

Martin & Co are ahead of the game with Energy Performance Certificates

As the date of October 1st moves closer, Martin & Co Whitley Bay are working closely with landlords to ensure Energy Performance Certificates (EPC’s) are available for all their properties available for rent with a new tenancy (in England and Wales) starting on or after this date. Our landlords will be receiving a letter and information packs shortly.

As residential lettings are our core business we have to keep up to speed with the changes in legislation. We are used to keeping our landlords briefed on such changes, that is just one of the benefits to a landlord of using an agent.

We are working with local, well established contractors to provide our EPCs and not only to our Fully Managed properties but even if we are just finding you a tenant you can still benefit from this service. We can arrange to carry out the assessment for a fee of £65.00 + VAT with our easy ordering system.

Please call Luke, your Property Manager on 0191 253 5666 or email on whitleybay@martinco.com to discuss or order.

Monday, 18 August 2008