Dress for Success (aka Property Staging)

There’s a saying that you should dress for the job that you want. We think the same applies when it comes to finding new tenants or a buyer for your property.

We’re all well-versed in the concept of property dressing within the sales market. You may even have heard stories of people putting the coffee on or leaving out freshly baked bread in the kitchen before viewings to create that ambiance. What is becoming far more common however is dressing lettings properties to attract discerning tenants, particularly in central London.

When marketing, if a property looks a little bit tired and run down – even something as simple as not being professionally cleaned or if it has a few marks on the wall – it sets the tone. Our experience is that tenants look after a property in line with it is handed over. Start with a property in good/great condition and with the right tenant, it will stay that way. Wear and tear is natural, however this can be minimised from the start along with the cost of repair works and void periods between tenancies.

Property dressing is a fantastic way to present your property in the best possible light. For this recent project, we arranged a dressing rental & styling package on behalf of the landlord to supplement the existing furniture already in place. Costs vary, but expect to spend at least £750+VAT for dressing and styling on a two bedroom flat. Typically you’ll have the option to keep the dressing items in the property for an agreed length of time (rather than just for the photos) which means it still looks impressive for viewings.

If you choose the to do-it-yourself approach, bear in mind that A LOT of property searching now happens via mobile phones - so the images are small and need to stand out whilst scrolling. Avoid too much clutter (if in doubt, less is always more). Colour can be eye-catching and greenery makes a property immediately look more appealing (and is very on trend). Ultimately, your images need to be arresting enough for someone to click on your listing and book a viewing. Your property needs to stand up to the visual standards most people have come to unconsciously expect via social media. A well-styled property can produce excellent images that do this for you and make yours stand out from the crowd.

Next week, we’ll be featuring a truly surprising method of dressing your property – virtual staging.

For more details or recommendations to our preferred interior designers, get in touch and check out more before and after photos on our Instagram @maplewoodproperty.

New Courts to Tackle Backlog of Evictions

Lord Chancellor Unveils Plans for Ten 'Nightingale Courts'

On 19 July the Lord Chancellor, Robert Buckland, announced that ten ‘Nightingale Courts’ would be set up rapidly to help deal with the backlog of evictions proceedings. With court services having been suspended from March for all ongoing housing possession action in England and Wales due to the coronavirus, the industry has been expressing increasing concern at the significant backlog in the Courts.

On 22 July, it was announced that possession proceedings would recommence from 23 August and MP Christopher Pincher, whilst recognising that the prioritisation of cases is the job of the judiciary, expressed his belief that it is important that serious and antisocial cases be heard as soon as possible.

Two of the new Courts will be located in London and other measures are also being put into place to ease the pressure on the court system, including longer opening hours in order to increase the number of cases that can be heard in a day and continuing to use video technology to hear cases where appropriate.

Through our considerate and professional dealing with our tenants, we have a great track record of keeping our landlords up-to-date with their rent payments.

To work with us - and help avoid the build-up of arrears that can lead to a lengthy eviction proceeding - contact us now.

Landmark Government Bill on Building Safety Published

Draft Building Safety Bill Published 20 July 2020

First announced in January, the government recently published its draft ‘Building Safety Bill which aims to make residents safer in their homes and deliver the biggest changes to building safety for nearly 40 years… It will improve regulations as the Government seeks to bring forward a “clearer system with residents’ safety at the heart of it” with residents having helped to develop the proposals through engagement groups.’ says Propertymark, the UK’s foremost property association.

Propertymark further explains:

‘Under the new rules, people living in high rise buildings will be empowered to challenge inaction from their building owners, have better access to safety information about their building, and will benefit from a swift and effective complaints process.

A Building Safety Regulator, already being set up within the Health and Safety Executive (HSE), will be established and equipped with the power to hold building owners to account or face the consequences and will enforce a new, more stringent set of rules that will apply for buildings of 18 meters or more or taller than six storeys from the design phase to occupation.

The Government views the draft Bill as legislation that will evolve as further evidence and risks are identified to ensure that residents’ safety is always prioritised and will also provide new powers to better regulate construction materials and products to ensure they are safe to use.’

The government will be publishing a new manual to the regulations to help ensure that building owners are clear on what steps they need to take to make their buildings compliant and - most importantly - safe.

Green Homes Grant Scheme Announced by Government

Propertymark Outlines Details of New Government Scheme

‘The government has announced a new scheme for homeowners in England called the Green Homes Grant Scheme. Set to start in September, the scheme will see eligible homeowners issued with vouchers to pay for energy-saving improvements to their homes.

How much funding is available?

Chancellor Rishi Sunak will be unveiling a £3billion plan to cut emissions, with £2billion ringfenced for the Green Homes Grant Scheme.

Under the scheme the government will pay at least two-thirds of the cost of energy saving home improvements up to £5,000. For the lowest earners, the government will pay the full amount up to £10,000.

David Cox of ARLA Propertymark said:

“Since the withdrawal of LESA (Landlords Energy Saving Allowance), we’ve been calling for a simple grant scheme to help private homeowners and landlords make their properties more energy efficient.

Today’s announcement is a big step forward to ensure that they can take the necessary steps to do this and ultimately create a greener property sector in the UK.”

What home improvements will be eligible?

Homeowners will be able to use the vouchers to pay for improvements that will make their property more energy efficient. This could be installing floor, wall and loft installation, low energy lighting, energy efficient doors and double glazing.

How will the vouchers work?

The government has said that homeowners will be able to apply for the grants on the Simple Energy Advice website from September.

Applicants will be asked some basic questions about their home followed by recommendations on eligible improvements, including information on local suppliers.

Once a supplier has provided a quote and the work has been approved, the government will issue a voucher.

Are you eligible?

The scheme is open to anyone who would benefit from eligible energy efficiency measures. The government are yet to release the criteria to receive the extra funding for those on lower incomes.’

We will provide updates as they become available. The scheme website is accessible below.

Stamp Duty Rates to be Temporarily Reduced

Government Outlines Details for Stamp Duty Land Tax

In a mini-budget announcement yesterday, the government has reduced the rates of Stamp Duty Land Tax (SDLT) on residential properties purchased between 8 July 2020 and 31 March 2021. 

The details indicate that:

‘If you purchase a residential property between 8 July 2020 to 31 March 2021, you only start to pay SDLT on the amount that you pay for the property above £500,000. These rates apply whether you are buying your first home or have owned property before. From 8 July 2020 to 31 March 2021 the special rules for first time buyers are replaced by the reduced rates.’

You can use the Stamp Duty Land Tax calculator in the link below to work out how much tax you’ll pay on your property purchase.