What are the advantages of renting a property?

Due to the notable increase in the sales market and the sudden surge in property prices, a lot of people has turned to the cheaper alternative, renting.

For many people, renting is the only option they are looking to in housing as the prices of homes look to be increasing and increasing. This has reportedly had a major effect on the lettings market as up to a third of the population are renting or are being housed in urban centers and are compact in the inner cities.

So we have listed some reasons why renting is of great advantage to a multitude of people:

1. Short Term/Long Term Stays

You are not solely confined to one space, as a long-term tenancy can start from as little as 6 months and then after you have the choice on whether you would like to stay or move, and it all depends on your preference.

2. Flexible Housing

Due to the high costs of living, a lot of people are changing jobs and are also changing their locations. So renting allows for working professionals to frequently move to locations that offer excellent transportation links and are generally closer to their new job.

3. Less Maintenance

As a lot of Landlords rely on property management companies to manage the homes and also take care of maintenance, this means you can worry less about resolving issues within the property you are staying. As the property management company will be the ones to look for contractors and oversee any works.

4. Getting on the Property Ladder

A majority of people only dream of getting onto the property ladder, and that’s the sales property ladder. But the rental property ladder is significantly cheaper than purchasing a property.

5. Exploring different ideas

If there is a specific area you would like to reside in, property sharing decreases the cost per person and also allows you to stay in locations that would normally be out of your budget.

6. Your safety

All rental properties must abide by the law on health and safety, and are only given approval as rentals if the property passes the safety standards and checks.

7. Landlords pay

Any continuous maintenance, building works and any additional costs for the property are covered by the landlord. So you will have less to pay/worry about.

Also, you are most likely to find one bed or two-bed apartments in a city center that will most likely be already furnished and are cheaper than you buying and decorating the place. Landlords used to be able to claim tax relief against furnished properties.  This tax break has now been removed and so there is no financial benefit to a landlord in providing a furnished property other than it making the property more desirable in certain circumstances.

 

3 THINGS ESTATE AGENTS DO IN YOUR INTEREST THAT YOU MAY NOT KNOW OF

There has always been speculation and negative talk on Estate Agents, but we’re here to turn that around as we work closely with the agents on our portal. We’ve now curated a list of 5 things Estate Agents do in your interest that you may not be aware of:

TIP #1: Area Research

Estate Agents make sure that they have an in-depth understanding and appreciation for the community they are serving, as this will better their chances in assisting you in either selling your property or buying one. Either way, them having a closer understanding of the area benefits you in general.

TIP #2: Market Research

Estate Agents strive to be on top of the property market as this will aid them in negotiating prices with Landlords or vendors as well as helping you to understand when is the best time to make an investment in regards to anything property related.

TIP #3: Support other local businesses

Agents are always getting involved in local community events or supporting other local businesses in the area via sponsorships, campaigns and etc. Doing this allows Agents to have a close tie with the community and also, in turn, become your tour guide into the community.

So these are just things that Agents do in your interest!

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Also if you have any tips that you could recommend to us, share them in the comments and we’ll be highlighting them in our upcoming articles on Estate Agents and their services.

 

WHAT BREXIT MEANS FOR THE PROPERTY MARKET

19 June was an important day for the history and future of the UK, as that is when the Brexit negotiations are to commence. One question that has been buzzing among the property sector and its followers is, ‘How will Brexit affect the housing prices and property market in the UK?’, and that is more than understandable.

So we’ve curated a short list of things that we are currently seeing and that we at Property Property Property believe we’ll be seeing soon, within the market:

Negotiations

As mentioned above, negotiations have taken place from Monday 19 June 2017 for the after-effects of the Brexit vote. These negotiations between the UK and EU will determine the state of the economy, which will also then determine the outcome of the housing market. However, we also believe there will be talk on trading, which may also affect the number of houses and flats springing from the ground in places such as London.

Market Fluctuation

As many people are wary about the value of their home or purchasing a property post-Brexit as they’re not too confident in what the market will hold, and neither are we as we are yet to see any significant difference in the market. However, reports have shown that the number of house purchases since the Brexit vote has dipped and we believe we’ll continue to see fluctuations in the market for the next few months until the economy has been stabilised.

Speculations

There has been some speculation within the property industry on what Brexit will actually mean and how it’ll affect us. However, a survey of forecasts was taken by the Investment Property Forum in the latter part of 2016, have shown that the capitals value in commercial real estate is predicted/expected to fall by 3.6 percent in 2017. On the country to that, rents have been predicted to remain high.

Nevertheless, these are all speculations and predictions based on the small changes that may have occurred the weeks leading to the Brexit vote and the weeks’ post-Brexit vote. What we are most concerned about is the future of our property market.

So at Property Property Property, we’ll like to know what your comments and thoughts are on Brexit and how it may change out property market.

7 THINGS YOU SHOULD LOOK OUT FOR IN YOUR RETIREMENT HOME

At Property Property Property we cater to everyone, including our dear pensioners. So this post is dedicated and the start of more to come, that are highlighted specifically to pensioners or those seeking retirement.

We have curated and listed below our top 7 tips on things you should look for in your retirement home:

TIP #1: Ramp or home modification

Now we’re not suggesting that this is a most for everyone, but as most people who are seeking retirement homes for the purpose of living there for the rest of lives, we advise that this is something you look out for. As it is a known fact that strength decreases with age, so looking into securing a property with a ramp and already installed home modifications is a bonus as it will save you time and money in the future when having to maybe install these functions.

TIP #2: Low ceilings

Ideally, when you look for properties, your mind isn’t too focused on the size or height of the ceiling. But as you gracefully age, I believe it is something you should look for in your retirement home. As you’ll still want to be able to have reach of the lighting on your celling and something that doesn’t have an overwhelming effect, such as a high ceiling.

TIP #3: Lower units

Following on from having lower ceilings, you may also consider having lower units. Such as a lower kitchen cabinet, lower bathroom system; anything that doesn’t stress you or is more easily accessible for yourself as you age.

TIP #4: Community park or recreation center

At this age, you are either more free to explore the world or you’re freer to explore your community. We suggest looking for local facilities that encourage pensioner activities or anything that will keep you busy and stress-free in your older years.

TIP #5: Location

Location is a very important factor to consider when seeking a retirement home as you still want to be accessible and reachable to family, friends, and anyone who you are in contact with. But at the same time, aim to look for a more peaceful and scenic neighborhood so that you can enjoy your retirement with less noise pollution.

TIP #6: Maintenance

This leads back to point 3, we just want to reinforce the point that it’s better to look for a property that will require less maintenance work in the long-run. As you wouldn’t want to spend your retirement having to make continuous modifications and alterations to your new home in order to suit your health. Why not jump this step and consider this now.

TIP #7: Transport

And finally transportation. We advise anyone and everyone looking for a new space to look for a location with good transportation links, as this will give you more freedom to travel as this will be something that is easily accessible for you to visit friends or family.

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Also if you have any tips that you could recommend to us, share them in the comments and we’ll be highlighting them in our upcoming articles in the ‘Retirement and Pensioners’ series.