Landlord Archives - Fife Properties
Fife Properties

FP TV (EP 34) RENTAL UPGRADES: 5 Improvements to Increase Your Income (Watch/read/listen)

 

Listen to the PODCAST: https://anchor.fm/fife-properties/episodes/FP-TV-EP-34-RENTAL-UPGRADES-5-Improvements-to-Increase-Your-Income-ev35tj

 

The rental market has grown up. Tenancies are running for longer, and with stays of four or more years increasingly common, tenants have higher expectations around the place they’re willing to call home.

 

This spells good news for landlords because those higher expectations come with a willingness to pay a higher rent. More than that, the right improvements will Continue reading FP TV (EP 34) RENTAL UPGRADES: 5 Improvements to Increase Your Income (Watch/read/listen)

FP TV (EP 27) INCREASE YOUR YIELD: Better Business Tips for Local Landlords (Watch/read/listen)

 

Listen to the PODCAST: https://anchor.fm/fife-properties/episodes/FP-TV-EP-27-INCREASE-YOUR-YIELD-Better-Business-Tips-for-Local-Landlords-eseo09/a-a4tup07

 

Is your rental property working as hard as it could for you? As a landlord, you’ll want to ensure that your investment is performing well and continues to make good business sense throughout the time you own it.

Continue reading FP TV (EP 27) INCREASE YOUR YIELD: Better Business Tips for Local Landlords (Watch/read/listen)

PROS OR CONS: Is a Managing Agent Worth Your Money! (4 min read)

It takes a certain character to be a managing agent: the job has a reputation as a thankless task with days full of complaints, emergencies, breakdowns and hassle. And if we’re honest, rarely does anyone call with news that everything’s just fine. Continue reading PROS OR CONS: Is a Managing Agent Worth Your Money! (4 min read)

SEASON’S LETTINGS: YOUR LANDLORD CHRISTMAS CHECKLIST (4 min read)

There are some interesting parallels between landlords and Santa Claus. For a start, you’re often making a list and checking it twice, only yours is full of to-dos for repairs and maintenance at your rental property. Then there’s deciding if your tenants have been naughty or nice, and whether they look after your property and pay the rent on time. Continue reading SEASON’S LETTINGS: YOUR LANDLORD CHRISTMAS CHECKLIST (4 min read)

Fife Landlords and Second Homeowners will Probably Save Money from the Proposed New Capital Gains Tax changes (3 min read)

…….Yet, if the proposals were adopted in full, some Fife landlords would pay £7,000 less Capital Gains Tax than they would currently

Continue reading Fife Landlords and Second Homeowners will Probably Save Money from the Proposed New Capital Gains Tax changes (3 min read)

Fife Properties TV (S1 EP 7) 5 ways on how all Fife landlords can escape the worst of the coronavirus downturn on their Fife rental property.

Hosts Jim Parker is joined by Andrea Stanford and Neil Bird to discuss this week’s news in the Fife Property Market while answering questions live on their show every Saturday morning @ 9.30am

 

Today’s agenda in case you would like to skip to the section required is:  Continue reading Fife Properties TV (S1 EP 7) 5 ways on how all Fife landlords can escape the worst of the coronavirus downturn on their Fife rental property.

Each Fife Landlord Could be Hit By a £25,822 Bill (4 min read)

..and the 5 ways on how all Fife landlords can escape the worst of the coronavirus downturn on their Fife rental property.

 

With the second lockdown starting on the 5th November 2020 South of the border and Scotland in its 5 tier local protection lockdown programme, does this mean Fife landlords can wave goodbye to their Fife buy-to-let investment and see it go up in smoke on the bonfire of buy-to-let dreams, like a Guy Fawkes puppet? Continue reading Each Fife Landlord Could be Hit By a £25,822 Bill (4 min read)

The Fife Property Market Post-Lockdown – the First 75 Days (4 min read)

With around 1 in 2 Fife house sellers actually selling their home in the last month, Fife sellers and buyers will need to continue to be pragmatic if the surprisingly strong current levels of activity in the Fife property market are to be sustained.

 

To start, we had the once in a lifetime event of the credit crunch in 2008, we then had another once in a lifetime event with the Brexit vote in 2016 and now the mother of all ‘once in a lifetime’ events, Coronavirus in 2020 – three once in a lifetime events in the space of 3 Olympic Games!

 

The doom-mongers forecast that the British property market would drop like a lead balloon  on the scale of the 1989 housing crash (where property values dropped by 30.87% in a couple of years) but would be nothing compared to the tsunami that was Covid. Yet in the first 75 days of the property market coming out of lockdown, behavioural and economic changes mean that many Fife homebuyers are now even more dedicated to moving home and the Fife property market is doing quite well.

 

Going into lockdown, the effect on activity in the Fife property market during those three months was expectable and predictable as it was placed in suspended animation during April, May and June. When the Fife property market re-opened in late June, nobody predicted what happened next. Of course, many of us in the property industry estimated some release of pent-up demand from the Boris Bounce, yet nobody anticipated such a ricochet in activity in the Fife property market.

 

This is particularly interesting when one considers GDP dropped by 20.4% in Q2 2020 (fascinating when compared to notable historic times when it dropped by 13.8% in WW2 and 16.7% in WW1), yet amidst the largest contraction in the UK economy ever in a single quarter, what wasn’t expected was an increase of potential property buyers and sellers wanting to move post-lockdown.

 

Some have cited this boost to the property market on a number of factors. Firstly, we have had the Stamp Duty Holiday, others have pointed at the never seen before 0.1% Bank of England base rates making mortgages cheap, then we had the furlough scheme which protected so many jobs and finally, the pent-up demand from the Boris Bounce.

 

Yet, when one actually talks with Fife buyers and sellers, whilst all of them cite one or two of the above reasons, all of them mention and talk about how the lockdown has made them re-evaluate and reconsider how they want to live, their work-life balance and where they want to live. This is also reflected with tenants changing their requirements when looking for a property to rent (so Fife landlords – be aware of this).

 

Demand for apartments in the centre of Fife has eased off, whilst demand for property with a good-sized garden or other outside space has increased. One question we get asked all the time is also the broadband speeds, although they are quite decent in Fife (the average broadband in our local Council area being 41.0 Mbps download and 7.9 Mbps upload).

 

So, with record numbers of Fife properties coming on to the market – is it boom time for Fife homeowners?

 

Of the 901 properties that have come onto the market in Fife over the last month, 420 of them have agreed a sale

(a percentage of 46.6%)

 

That means around 1 in 2 Fife people that have placed their property onto the market have not found a buyer yet.

 

Yes, the Fife property market is good, yet the number of people who have placed their property on the market has also gone up. Fife estate agents have never been so busy putting property on the market and I feel sorry for the chap who is putting up all the for-sale boards – his wife hasn’t seen him in daylight for weeks!

 

But that does mean you are in competition with so many other properties on the market (the number of properties coming on to the market typically at this time of the year is about a third to half less). The Stamp Duty boost ends in March 2021, so that means you need to have found a buyer by November at the very latest. By over egging your asking price, to test the market, might mean you will lose out on this hiatus and could end up missing the boat!

 

The prices being achieved for the Fife properties that have been selling have been fair and realistic and have stood up much better than many were originally predicting.

 

Yet as the country looks forward, given the ambiguous nature of the outlook for the British economy and the possibility that Covid-19 may be with us for a little while yet, I must implore Fife property sellers to be realistic with their asking price so a greater number of you who want to make the move, are able to do so.

The Rights, Obligations & Responsibilities of the Fife Landlords & Tenants during the Virus Outbreak

The last three or four weeks, unquestionably, have been one of the most life-changing times we have seen since WW2. The imminent threat of the Coronavirus has taken over the world, the UK and Fife and will challenge you, our families, our relationships and test us all.

Continue reading The Rights, Obligations & Responsibilities of the Fife Landlords & Tenants during the Virus Outbreak

FIND OUT HOW MUCH YOUR HOME IS WORTH

TAP HERE TO BOOK A FREE SALES/RENTAL VALUATION