Maidstone’s ‘Generation Trapped’ and the £9.05bn legacy

Last week, I wrote an article on the plight of the Maidstone 20 something’s often referred to by the press as ‘Generation Rent’. Attitudes to renting have certainly changed over the last twenty years and as my analysis suggested, this change is likely to be permanent. In the article, whilst a minority of this Generation Rent feel trapped, the majority don’t – making renting a choice not a predicament. The Royal Institution of Chartered Surveyors (RICS) predicted that the private rental sector is likely to grow substantially by 1.8m households across the UK in the next 8 years, with demand for rental property unlikely to slow and newly formed households continuing to choose the rental market as opposed to buying.

However, my real concern for Maidstone homeowners and Maidstone landlords alike, as I discussed a couple of months ago, is our mature members of the population of Maidstone. In that previous article, I stated that the current OAP’s (65+ yrs in age) in Maidstone were sitting on £4.01bn of residential property ... however, I didn’t talk in depth about the ‘Baby Boomers’, the 50yr to 64yr old Maidstone people and what their properties are worth – and more importantly, how the current state of affairs could be holding back those younger Generation Renters.

In Maidstone, there are 7,655 households whose owners are aged between 50yrs and 64yrs and about to pay their mortgage off. That property is worth, in today’s prices, £2.52bn. There are an additional 7,626 mortgage free Maidstone households, owned by 50yr to 64yr olds, worth £2.51bn in today’s prices, meaning...

Maidstone Baby Boomers and Maidstone OAP’s are sitting

on £9.05bn worth of Maidstone Property

These Maidstone Baby Boomers and OAP’s are sitting on 27,471 Maidstone properties and many of them feel trapped in their homes, and hence I have dubbed them ‘Generation Trapped’.

Recently, the English Housing Survey stated 49% of these properties owned by the Generation Trapped, as I have dubbed them, are ‘under-occupied’ (under-occupied classed as having at least two bedrooms more than needed). These houses could be better utilised by younger families, but research carried out by the Prudential suggest in Britain it’s estimated that only one in ten older people downsize while in the USA for example one in five do so.

The growing numbers of older homeowners who want to downsize their home are often put off by the difficulties of moving. The charity United for all Ages, suggested recently many are put off by the lack of housing options, 19% by the hassle and cost of moving, 14% by having to declutter their possessions and 14% by family reasons such as staying close to children and grandchildren.

Helping mature Maidstone (and the Country) homeowners to downsize at the right time will also enable younger Maidstone people to find the homes they need – meaning every generation wins, both young and old. However, to ensure downsizing works, as a Country, we need more choices for these ‘last time buyers’.

Theresa May and Philip Hammond can do their part and consider stamp duty tax breaks for downsizers, our local Council in Maidstone and the Planning Dept. should play their part, as should landlords and property investors to ensure Maidstone’s ‘Generation Trapped’ can find suitable property locally, close to friends, family and facilities.

If you are looking for an agent that is well established, professional andcommunicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/ 

‘Generation Rent (Forever)’ – 6,311 Maidstone Tenants have no intention of ever buying a property to call home

The good old days of the 1970’s and 1980’s eh … with such highlights lowlights as 24% inflation, 17% interest rates, 3 day working week, 13% unemployment, power cuts ... those were the days (not)… but at least people could afford to buy their own home. So why aren’t the 20 and 30 something’s buying in the same numbers as they were 30 or 40 years ago?

Many people blame the credit crunch and global recession of 2008, which had an enormous impact on the Maidstone (and UK) housing market. Predominantly, the 20 something first-time buyers who, confronting a problematic mortgage market, the perceived need for big deposits, reduced job security and declining disposable income, discovered it challenging to assemble the monetary means to get on to the Maidstone property ladder.

However, I would say there has been something else at play other than the issue of raising a deposit - having sufficient income and rising property prices in Maidstone. Whilst these are important factors and barriers to homeownership, I also believe there has been a generational change in attitudes towards home ownership in Maidstone (and in fact the rest of the Country).

Back in 2011, the Halifax did a survey of thousands of tenants and 19% of tenants said they had no plans to buy a home for themselves. A recent, almost identical survey of tenants, carried out by The Deposit Protection Service revealed, in late 2016, that figure had risen to 38.4%, with many no-longer equating home ownership to success and believing renting to be better suited to their lifestyle.

You see, I believe renting is a fundamental part of the housing sector, and a meaningful proportion of the younger adult members of the Maidstone population choose to be tenants as it better suits their plans and lifestyle. Local Government in Maidstone (including the planners – especially the planners), land owners and landlords need an adaptable Maidstone residential property sector that allows the diverse choices of these Maidstone 20 and 30 year olds to be met.

This means, if we applied the same percentages to the current 16,435 Maidstone tenants in their 7,008 private rental properties, 6,311 tenants have no plans to ever buy a property – good news for the landlords of those 2,691 properties. Interestingly, in the same report, just under two thirds (62%) of tenants said they didn’t expect to buy within the next year.

.. but does that mean the other third will be buying in Maidstone in the next 12 months?

Some will, but most won’t … in fact, the Royal Institution of Chartered Surveyors (RICS) predicts that, by 2025, that the number of people renting will increase, not drop. Yes, many tenants might hope to buy but the reality is different for the reasons set out above.  The RICS predicts the number of tenants looking to rent will increase by 1.8 million households by 2025, as rising house prices continue to make home ownership increasingly unaffordable for younger generations.  So, if we applied this rise to Maidstone, we will in fact need an additional 3,003 private rental properties over the next eight years (or 375 a year) … meaning the number of private rented properties in Maidstone is projected to rise to an eye watering 10,011 households.

For more insight and thoughts like this on the Maidstone Property Market – please visit the Maidstone Property Blog.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/ 

With 16,435 people in Private Rented Properties in Maidstone - Should you still be investing in Maidstone Buy To Let?

If I were a buy to let landlord in Maidstone today, I might feel a little bruised by the assault made on my wallet after being (and continuing to be) ransacked over the last 12 months by HM Treasury’s tax changes on buy to let. To add insult to injury, Brexit has caused a tempering of the Maidstone property market with property prices not increasing by the levels we have seen in the last few years. I think we might even see a very slight drop in property prices this year and, if Maidstone property prices do drop, the downside to that is that first time buyers could be attracted back into the Maidstone property market; meaning less demand for renting (meaning rents will go down). Yet, before we all run for the hills, all these things could be serendipitous to every Maidstone landlord, almost a blessing in disguise.

Maidstone has a population of 105,550, so when I looked at the number of people who lived in private rented accommodation, the numbers astounded me …

Maidstone - Accommodation Type and the Number of Occupiers
Owned outright - Maidstone	Owned with a mortgage - Maidstone	Shared ownership (part owned and part rented) - Maidstone	Social rented (aka Council Housing) -  Maidstone	Private rented - Maidstone	Living rent free - Maidstone
25,792	46,286	1,153	15,100	16,435	784
24.4%	43.9%	1.1%	14.3%	15.6%	0.7%

Yields will rise if Maidstone property prices fall, which will also make it easier to obtain a buy to let mortgage, as the income would cover more of the interest cost. If property values were to level off or come down that could help Maidstone landlords add to their portfolio. Rental demand in Maidstone is expected to stay solid and may even see an improvement if uncertainty is protracted. However, there is something even more important that Maidstone landlords should be aware of: the change in the anthropological nature of these 20 something potential first time buyers.

I have just come back from a visit to my wife’s relations after a family get together. I got chatting with my wife’s nephew and his partner.  Both are in their mid/late twenties, both have decent jobs in Maidstone and they rent. Yet, here was the bombshell, they were planning to rent for the foreseeable future with no plans to even save for a deposit, let alone buy a property. I enquired why they weren’t planning to buy? The answers surprised me as a 40 something, and it will you. Firstly, they don’t want to put cash into property, they would rather spend it on living and socialising by going on nice holidays and buying the latest tech and gadgets. They want the flexibility to live where they choose and finally, they don’t like the idea of paying for repairs. All their friends feel the same. I was quite taken aback that buying a house is just not top of the list for these youngsters.

So, as 15.6% of Maidstone people are in rented accommodation and as that figure is set to grow over the next decade, now might just be a good time to buy property in Maidstone – because what else are you going to invest in?  Give your money to the stock market run by sharp suited city whizz kids – because at least with property – it’s something you can touch - there is nothing like bricks and mortar!If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/

383 Maidstone Households Occupied by OAP Renters

Recent statistics published by the Office of National Statistics show that there are 267,704 private rented households in the Country that are occupied by people aged 65 and older, meaning 4.39% of OAP’s are living in private rented property.

It got me thinking two things. How many of these OAP’s have always rented and how many have sold up and become a tenant?  In retirement, selling up could make financial sense to the mature generation in Maidstone, potentially allowing them to liquidate the equity of their main home to enhance their retirement income.  I wanted to know why these older people rent and whether there was opportunity for the buy to let landlords of Maidstone?

The Prudential published a survey recently that said nearly six out of ten OAP renters had never owned a home.  Two out of ten OAP renters were required to sell up because of debt, just about one in ten OAP renters sold their property to use the money to fund their retirement and the remaining one out ten OAP renters, rented for other reasons.

Funding retirement is important as the life expectancy of someone from Maidstone at age 65 (years) is 18.9 years for males and 20.9 years for females (interesting when compared to the National Average of 18.7 years for males and 21.1 years for females).  The burdens of financing a long retirement are being felt by many mature people of Maidstone.  The state of play is not helped by rising living costs and ultra-low interest rates reducing returns for savers.

So, what of Maidstone?  Of the 11,083 households in Maidstone, whose head of the household is 65 or over, not surprisingly 8,923 of households were owned (80.51%) and 1,548 (13.97%) were in social housing.  However, the figure that fascinated me was the 383 (3.46%) households that were in privately rented properties.

Anecdotal evidence, by talking to both my team and other Maidstone property professionals is that this figure is rising.  More and more Maidstone OAP’s are selling their large Maidstone homes and renting something more manageable, allowing them to release all of their equity from their old home.  This equity can be gifted to grandchildren (allowing them to get on the property ladder), invested in plans that produce a decent income and while living the life they want to live.

These Maidstone OAP renters know they have a fixed monthly expenditure and can budget accordingly with the peace of mind that their property maintenance and the upkeep of the buildings are included in the rent.  Many landlords will also include gardening in the rent! Renting is also more adaptable to the trials of being an OAP - the capability to move at short notice can be convenient for those moving into nursing homes, and it doesn't leave family members panicking to sell the property to fund care-home fees.

Maidstone landlords should seriously consider low maintenance semi-detached bungalows on decent bus routes and close to doctor’s surgeries as a potential investment strategy to broaden their portfolio.  Get it right and you will have a wonderful tenant, who if the property offers everything a mature tenant wants and needs, will pay top dollar in rent!

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/

£13.08bn – The total value of all Maidstone Property Market

“How much would it cost to buy all the properties in Maidstone?”

This fascinating question was posed by the 11-year-old son of one of my Maidstone landlords when they both popped into my offices before the Christmas break (doesn’t that seem an age away now!). I thought to myself, that over the Christmas break, I would sit down and calculate what the total value of all the properties in Maidstone are worth … and just for fun, work out how much they have gone up in value since his son was born back in the autumn of 2005.

In the last 11 years, since the autumn of 2005, the total value of Maidstone property has increased by 47% or £4.18 billion to a total of £13.08 billion. Interesting, when you consider the FTSE100 has only risen by 30.78% and inflation (i.e. the UK Retail Price Index) rose by 37% during the same 11 years.

When I delved deeper into the numbers, the average price currently being paid by Maidstone households stands at £285,727.… but you know me, I wasn’t going to stop there, so I split the property market down into individual property types in Maidstone; the average numbers come out like this ..

Maidstone Property Market
Average Value of a Detached Property	Average Value of a Semi-Detached Property	Average Value of a Terraced/Town House Property	Average Value of an Apartment
£483,115	£309,453	£246,513	£158,976

... yet it got even more fascinating when I multiplied the total number of each type of property by the average value. Even though detached houses are so expensive, when you compare them with the much cheaper semi-detached houses, you can see detached properties are not a match in terms of total pound note value of the semi-detached houses.

Total Value of all the Maidstone Detached Properties	Total Value of all the Maidstone Semi-Detached Properties	Total Value of all the Maidstone Terraced/Town House Properties	Total Value of all the Maidstone Apartments
£4,211,313,455	£4,605,898,452	£2,910,085,965	£1,357,655,040

So, what does this all mean for Maidstone?  Well as we enter the unchartered waters of 2017 and beyond, even though property values are already declining in certain parts of the previously over cooked Central London property market, the outlook in Maidstone remains relatively good as over the last five years, the local property market was a lot more sensible than central London’s.

Maidstone house values will remain resilient for several reasons. Firstly, demand for rental property remains strong with continued immigration and population growth.  Secondly, with 0.25 per cent interest rates, borrowing has never been so cheap and finally the simple lack of new house building in Maidstone not keeping up with current demand, let alone eating into years and years of under investment – means only one thing – yes it might be a bumpy ride over the next 12 to 24 months but, in the medium term, property ownership and property investment in Maidstone has always, and will always, ride out the storm.

In the coming weeks, I will look in greater detail at my thoughts for the 2017 Maidstone Property Market. As always, all my articles can be found at the Maidstone Property Market Blog.If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/

 

Maidstone’s private renting set to hit 9,881 households by 2021 - Is Buy to Let immoral? (Part 1)

Can we blame the 55 to 70-year-old Maidstone citizens for the current housing crisis in the town?

Also known as the ‘Baby Boomer Generation’, these Maidstone people were born after the end of the Second World War as the country saw a massive rise in births as they slowly recovered from the economic hardships experienced during wartime.

Throughout the 1970’s and 1980’s, they experienced (whilst in their 20’s, 30’s and 40’s) an unparalleled level of economic growth and prosperity throughout their working lifetime on the back of improved education, government subsidies, escalating property prices and technological developments, they have emerged as a successful and prosperous generation.

...Yet some have suggested these Maidstone baby boomers have (and are) making too much money to the detriment of their children, creating a ‘generational economic imbalance’, where mature people benefit from house-price growth while their children are forced either to pay massive rents or pay large mortgages.

Between 2001 and today, average earnings rose by 65%,

but average Maidstone house prices rose by 133%

The issue of housing is particularly acute with the generation called the Millennials, who are young people born between the mid 1980’s and the late 1990’s. These 18 to 30 years, moulded by the computer and internet revolution, are finding as they enter early adult life, very hard to buy a property, as these ‘greedy’ landlords are buying up all the property to rent out back to them at exorbitant rents ... it’s no wonder these Millennials are lashing out at buy to let landlords, as they are seen as the greedy, immoral, wicked people who are cashing in on a social despair.

Like all things in life, we must look to the past, to appreciate where we are now.

The three biggest influencing factors on the Maidstone (and UK) property market in the later half of the 20^th Century were, firstly, the mass building of Council Housing in the 1950’s and 60’s. Secondly, for the Tory’s to sell most of those Council Houses off in the 1980’s and finally 15% interest rates in the early 1990’s which resulted in many houses being repossessed. It was these major factors that underpinned the housing crisis we have today in Maidstone.

To start with, in 1995 the USA relaxed its lending rules by rewriting the Community Reinvestment Act. This Act saw a relaxation on the Bank’s lending criteria’s as there was pressure on these banks to lend on mortgages in low wage neighbourhoods, as the viewpoint in the USA was that anyone (even someone on the minimum wage) any working class person should be able to buy a home.  Unsurprisingly, the UK followed suit in the early 2000’s, as Banks and Building Society’s relaxed their lending criteria and brought to the market 100% mortgages, even Northern Rock started lending every man and his dog 125% mortgages.

So when we roll the clock forward to today, and we can observe those very same footloose banks from the early/mid 2000’s (that lent 125% with a just note from your Mum and a couple of breakfast cereal tokens), ironically reciting the Bank of England backed hymn-sheet of responsible-lending. On every first time buyer mortgage application, they are now looking at every line on the 20-something’s banks statements, asking if they are spending too much on socialising and holidays ... no wonder these Millennials are afraid to ask for a mortgage (as more often than not after all that – the answer is negative).

Conversely, you have unregulated Buy To Let mortgages. As long as you have a 25% deposit, have a pulse, pass a few very basic yardsticks and have a reasonable job, the banks will literally throw money at you ... I mean Virgin Money are offering 2.99% fixed for 3 years – so cheap!

So, in Part Two next week, I will continue this emotive article and show you some very interesting findings on why young people aren’t buying property anymore (and it’s not what you think!).

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/

Fair Wear and Tear - An Overview

Many landlords ask what is fair wear and tear so I thought I would share this with you. It is an article prepared by Chase Inventory Services Limited.

The Legal definition- The law defines fair wear and tear as ” reasonable use of the premises by the tenant and the ordinary operation of natural forces”. This refers to the twin forces of time and normal daily habits. Walking across a carpet from the door to the dining table, for example, will exert a wearing effect during the length of a year which is perfectly natural.

A landlord cannot ask the tenant to pay for repairs or replacement at the end of the tenancy for changes caused by fair wear and tear.

No Entitlement to betterment:

It is a legal tenant that a landlord cannot expect to have old replaced with new at a tenant’s expense. An allowance for fair wear and tear must be made when considering compensation for damage.

Accessing fair wear and tear

A professional inventory clerk uses experience and common sense to assess the many factors present before deciding what is attributable to fair wear and tear. Here are some of the things a clerk will consider:

* The quality of the supplied item ( and that varies greatly).

* The age of the item.

*The condition at the start of the tenancy.

*The condition at the end of the tenancy.

* The usual life expectancy of the item.

*The number of tenants- and how many are adults and children-when appropriate.

* The length of the tenancy

* Any extenuating circumstances.

A tenant has a duty of care to leave the property at the end of the tenancy in the same condition recorded on the inventory, with fear wear and tear taken into account.

To avoid the appearance of betterment, the allocation of costs or compensation must take into account these three items.

1. Fear Wear and Tear ( as described above)

2. The most appropriate remedy for repair or replacement

3. That the landlord is neither financially or materially better of at the end of the tenancy, having taken into account (1) and exercised (2).`

So there you have it!

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/

Getting Rentals Right in Maidstone

Just as anyone can open up an estate agency, so they can also start up a lettings business, without any training, experience or qualifications. This should concern landlords, because there is far more to the business than meets the eye. In some ways, finding a tenant is the easy bit!

The issues arise over how selective the agency is when recommending a tenant. For example:

What is the tenant’s credit history?
They may impress by offering a large deposit, but will their payments be reliable in the future?
They might tell you their intention is to stay for two years, but will they give notice after six months?
Will they fail to pay their final month’s rent as a way of enforcing the return of their deposit?
Will they treat your property as if it were their own?
Would they prove difficult to evict if need be, as court orders can take months?

Whilst no agent can avoid all these scenarios all the time, good lettings agents have a pretty good track record in how well they vet their tenants, and will visit the property regularly to ensure everything is ok. They will also be able to offer insurance covering damages, non-payment of rent, and even compensation for tenant-free voids. Additionally, they will recognise their duty to tenants by helping landlords to fulfil their obligations.

Your buy-to-let investment should deliver the optimal return with minimal involvement and stress on your part, and appointing the right letting agent is part of this investment. A good investment can make you money, but a bad investment can actually lose you money. Why not give us a call for the best advice in the area?

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/

A Word to Maidstone Landlords about Presentation

When letting your property, you naturally want your property to look its best, but how far should you go in terms of presentation?

Firstly, aim to understand how your property “sits” within the market. Not all tenants have the same criteria, so walk through the house with your letting agent to identify your property’s strengths and weaknesses. Look through the eyes of a typical likely tenant, and consider what aspects could be improved to enhance your chances of letting to that person.

For example, it may be that your property is in generally good condition, but the carpets let it down. Whilst you could take account of this in the rent, new, or professionally cleaned, carpets can transform the presentation of a property and appeal to a tenant who might otherwise be put off. However, if your property is in need of general updating, a new carpet could be a waste of money unless combined with an overall improvement in the presentation.

A tenanted property can sometimes experience harder wear and tear than an owner-occupied one, and a new tenant will always prefer to “make it their own” rather than simply taking over from the last tenant. So a simple coat of paint can generally do wonders and need not be expensive.

Additionally, a tenant who moves into a fresh, clean, well-presented, newly-redecorated property, knowing they need to return it one day in the same condition, is more likely to look after it more carefully, and even stay longer. A tenant with a sense of pride is generally a good tenant. We like good tenants! So do our clients!

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on claire.harvey@seekersmaidstone.co.uk or call on 01622 671878. If you are in the area, feel free to pop into the office – we are based on 53 High Street, Maidstone, ME14 1SY. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Maidstone Property News.

LinkedIn, www.linkedin.com/in/claireharveyestateagent
Blog, http://maidstonepropertyblog.blogspot.com/
Facebook, https://www.facebook.com/SeekersHomesUK
Twitter, https://twitter.com/seekershomes
Website, http://www.seekershomes.co.uk/