If you have a slightly rundown rental property, then you might have been putting off its refurbishment and maintenance due to the costs involved. While a well maintained property might allow you to increase your rent slightly, there are other important factors to take into account. Any of the the letting agents in Nottingham will tell you a well maintained property is much easier to let, reducing void periods and increasing the likelihood of getting a good tenant who is more motivated to care for the property. Such tenants are likely to be happier and will stay for longer, which again decreases those empty periods. Another advantage of having longer term tenants is that they are a known quantity, and will already have established their trustworthiness. Void periods are something which a lot of landlords tend to overlook, but losing just one or two months’ rent a year could considerably reduce rental returns. If you have to keep re-advertising your property every six months or so, then it’s almost certain that you will have at least a month or two without rent coming in. Properties which haven’t received any regular maintenance reach a certain point where it becomes much more expensive to return the property to a reasonable standard, than spending a little over time to keep the standard high. Once you have refurbished your property you really need to make sure the tenants maintain your investment properly. The easiest way to do this is to conduct a thorough property inventory and to carry out quarterly inspections using photographs to track any wear and tear. Most good tenants will welcome this kind of inspection, and will be reassured their landlord takes an interest in maintaining their home; you are likely to build a better relationship with them which again increases the likelihood they will stay for longer. Finally, by maintaining your property you are protecting your investment and in the meantime a well maintained property should give you more peaceful and stress free life with improved rental returns.
Return of the enterprise zones set to concentrate property investment
August 16, 2011
The enterprise zones are designated geographical areas that are designed to stimulate economic growth. This is encouraged by a number of government back stimulus in the form of zero business rates for up to five years and simplified planning rules. These measured are often designed to make border line speculative property development deals tip the scales and go live. Banks look at lending on these property development sites more favourably as they have a more saleable asset to leverage.
Property investor’s appetite for commercial property ripples into the north
June 7, 2011
Commercial property investors are following the usual pattern of the ripple effect, as prime London commercial property yields are affected by increases in capital values. They are looking for the next hot spots and as the investors move their attention and funds to other areas, sectors and properties, so do property speculators. Data has shown an incredible increase in completed deals in Manchester office space with deals completed hitting two hundred percent. There are big similarities between the current commercial property market in Manchester and that of the London market as the recovery began. So where next for increases in lease uptake and capital values? Many believe there is good value in places like Birmingham, Nottingham, and Stoke on Trent, time will tell.
Retail property follows London office market revival
May 9, 2011
A prominent expert from one of the top London property groups is confident that the retail sector of the capitals commercial property market is following the recent revival of the office sector. The Royal Institute of Chartered Surveyors has released data showing that the London office market has been popular with tenants and investors alike. Many in the property industry believe that retail will soon follow the lead of the office rentals sector. Surveyors outside London are watching Manchester, Nottingham, and other large cities as the first strong signs of demands return to the UK commercial property sector.
West Midlands Receive Construction Industry Boost
November 29, 2010
Construction firm Amey is set to provide a boost to the West Midlands region with the announcement of its new national Apprenticeship Academy. The company will create 100 new jobs in construction, predominantly in the rail industry, with its scheme of Civil Engineering partnerships.
Mel Ewell the Amey chief executive, effused about the new project which will provide opportunities for those looking for a career in construction: “The programme is designed specifically to help young people negotiate an extremely tough jobs market and learn practical skills that will give them real, long-term career prospects.”
Training will take place at The Network Rail centre in Walsall which features a ?mock rail environment?. Here experienced rail professionals will provide training and skills to apprentices seeking to work in engineering, a good alternative to those who wish to learn their trade in a vocational capacity. The firm is also looking beyond simply training apprentices though, with opportunities available to study National Vocational Qualifications (NVQs), undertake work placements, and complete the Gold Duke of Edinburgh’s Award.
Successful applicants on the scheme will be part of exciting projects such as CEFA – a national infrastructure project to examine every single bridge, signal box and tunnel owned and operated by Network Rail.
How to replace my slate or tile roof
June 16, 2010
First things first, spend a little time finding the correct materials and a good contractor a good roofing contractor will take care of the little details on the verves and valleys that give the overall finish a high standard. Remember all slate and tiles are not created equally Welsh slates are expensive for good reason and cheap tiles may not last as long as a better quality alterative.
Lead flashings and finishing?s can really give your roof a beautiful look but can also give problems if these works are not carried out correctly. There are various grades of lead and lead substitutes so make sure your contractor uses the best. If you are in any doubt ask a Royal Institute Chartered Surveyor to act as project manager or contract administrator.
Getting harder to find a good builder?
June 15, 2010
With another announcement of a local building contractor going into administration within weeks it is getting harder to find a good builder. Many of these firms have years and good trading history but are often pushed into administration as a result of money they are owed by cash strapped developers and members of the public.
The latest casualty is a well know contractor from the Mansfield area and is thought to be leaving up to thirty local builders out of work. They will also leave sub contractors like electricians, plumbers, joiners, painters and decorators, looking hard for their next building contract.
Should I build an extension?
June 14, 2010
Building an extension to your home is well worth considering for at least three reasons :-
(1) it will provide you with the additional space that you require,
(2) it will increase the value of your property, and,
(3) it will avoid you having to sell your property to acquire the space you need, and buy a new home when the locality you are in at present is the one that you like, is close to work and family, and maybe the children are settled in at a nearby school etc.
I have seen a good example of house extension work carried out recently in the North of England which I am aware involved someone who employed a local reputable builder who did a very good job. The semi-detached house had a small kitchen facing the back garden alongside a dining area, the latter forming part of an L shaped lounge.
Although the kitchen and dining area was only extended by a relatively small amount (about 2 meters or so), the new kitchen, and extended dining area, has now an impressive appearance, and a surprisingly large area which the owners are now using, enjoying, and are proud to own.
The example mentioned above had/has further scope for extension as another approach could have been not only to extend the ground floor but also the bathroom above the kitchen could also have been extended, and the bedroom above the dining area could have been extended as well to provide an en suite in this back bedroom. It shows that there can be more than one way to pursue an idea you have in mind.
Whatever your requirements, it is well worth considering and pursuing your ideas to seek a solution to meet your need for more space in your home by building the extension that is right for you.
