Choosing the right Notting Letting Agent

 

Should I purchase an investment property in Nottingham is a question we get asked all the time. With the city currently showing outstanding house price growth, and having two large universities, you can see the appeal...

The answer however isn’t that straightforward, and without a local lettings expert on your side, it’s something that you can easily get very wrong. Taking a punt on a property in a city you aren’t familiar with can be a purchase you live to regret for years to come. Remember, the estate agent that is selling the property works for the seller, not the buyer!

Considerations when you’re investing are numerous. Who do you want to rent to? students, professionals, house-sharers etc.... The location you purchase in will probably be dramatically different for each tenancy type.

Licensing - Nottingham is littered with licensing schemes and the local authority is less than landlord friendly. Before you invest, make sure you’re aware of the licensing scheme that the property falls into. If you see a house for sale in a student area that seems a complete bargain, there could well be a reason it is so cheap.

Are you planning to self manage, or will you be employing a Nottingham Letting Agent to manage the property for you? On the face of it your yield will be higher if you manage things yourself, but you need to be local so you can deal with repairs and carry out inspections. Having a qualified Letting Agent manage the property for you should make property investment far more hassle free.

If you are new to the area, establishing a relationship with a reputable local Letting Agent may well be a higher priority than searching on Rightmove for a property to buy. Do your research, read their reviews, and visit their office. You need somebody on your side, so choose carefully. 

Granger & Oaks are ARLA licenced Letting Agents in Nottingham and we specialise in the management of professional property. Our Managing Director is also a director of EMPO, the local landlords association. We know the city.

Over the past 17 years, we have helped numerous landlords invest in Nottingham and we have also project managed a number of renovation projects with our team of tradesmen. We help clients focus their investment decision, and we then help them select a range of potential properties that fit their investment criteria. Often this means we are identifying homes that require improvement, so we assist with quotations to reduce the risk of nasty surprises along the way.

In these days of desperately low interest rates and turbulent stock market returns, investment property remains attractive, and the demand from tenants remains strong. Whilst being a landlord isn’t everybody’s cup of tea, having a good local Letting Agent on your side can take many of the bumps out of the road and can help you see a good return on your investment whilst at the same time providing a nice home for tenants to enjoy whilst they live in the city.

If you are contemplating purchasing an investment property in Nottingham, contact Granger & Oaks today to see how we can help...

Letting Agents in Nottingham

Letting Agents are all the same right? A common misconception that I’m pleased to be able to rebuff. Some Letting Agents quite rightly have a dreadful reputation, and many are poorly trained, but just like solicitors, garages, restaurants, and hotels , if you shop around and do your research, you will find there are some outstanding operators that are anything but the common reputation that the popular media like to portray.

As a landlord, your Letting Agent should be the person you trust. Their honesty & integrity is essential. They are the ones finding you tenants, and arranging your repairs, and potentially helping you find another property to purchase. Choose your agent wisely get them on side. A few key questions you might want to ask when you’re talking to agents are: Who will physically manage my property? It’s important to know if your property is being managed here in Nottingham, or from a call centre in Southampton. How do you handle rent arrears? You’d hope that your property manager would be involved, right…. How long are your voids between tenants? The answer should be in days, not weeks..  

Letting Agents in Nottingham come in all shapes and sizes. Increasingly there are large franchises, there are multi-branch national and regional concerns, and there are a choice of local independents. Many are ARLA licensed, and that probably should be your first port of call. ARLA licensing is the industry standard. It shows a level of training, and it means the agent has signed up to abide by a code of conduct. For some reason it doesn’t necessarily mean however that there is an ARLA member in each branch though, and that is something you should be aware of.

Many national chains and franchise networks also operate call centres – one national brand manage their property from Mansfield, for instance, and one from Southampton. Most independents will have one or two branches and will manage their properties in-house.

Are Estate Agents & Letting Agents the same thing? No. is the answer. A lot do both, but increasingly Letting Agency is a standalone discipline. Sales is more front end & marketing led, whilst lettings can be more property law and management focussed. With rules and regulations surrounding Lettings & Management changing every few months, a specialist agent that is trained and focussed is essential to make sure your property and its tenancy are fully compliant.

Take up recommendations, and read reviews.. When you go on holiday I presume you read the reviews of your hotel or the area that you’re going to stay. You may even do the same with restaurants, and even films. Your letting agent should be no different. See what other landlords say. Have a chat with some if you wish. Whatever you do, don’t just choose on price, unless of course you always buy the cheapest car, book the cheapest hotel, and eat in the cheapest restaurants. If you pay peanuts.……

If you’d like a frank and open conversation about your rental property, or investing in Nottingham, call Granger & Oaks today. Even if we can’t help you, you will probably know somebody that can.

 

As the relaxation of lockdown slowly widens and the people start to tackle the new 'normal', Estate Agents and Letting Agents are seeing an increased interest in gardens as a priority. After 10 weeks confined to barracks in a heat wave, it's perhaps understandable that being cooped-up in an apartment has lost some of its sparkle, and viewers are starting to rank a nice outdoor space as of greater importance than a fancy bathroom. 

Nottingham Letting Agents Garden Maintenance

In the rental market, gardens have often just meant a patch of scruffy grass or a wonky patio, but the hunt for the best tenants now very much brings the garden to the forefront of piorities when a property is being prepared to let or sell. 

Jonathan Detheridge from Granger & Oaks commented "In Nottingham, we're seeing tenants asking about gardens more and more, and small houses with attractive outdoor spaces are currently more popular than ever. Gardens are often a contenscious issue in the rental market when it comes to checkout, but we nearly always find that the better a garden is presented at the start of a tenancy, the nicer it is at the end! Landlords need to think about who their likely tenant is going to be, and present their garden accordingly. Huge gardens that require a lot of attention really aren't what the majority of tenants are after, but, if you are renting a house at the higher end of the market a large garden might be a massive selling point. If you're renting a property with a particularly attractive garden, think about including garden maintenance in the rent - you might find that you can command a premium rent and have a queue of tenants that were otherwise put-off by the work"

Data from Rightmove suggests that post-lockdown, two bedroom houses are now the most popular search, whilst studio flats have dropped hugely in popularity. Read more here in this article from the BBC website. https://www.bbc.co.uk/news/business-52922313

Virtual Property Tours a Raging Success and They're Here To Stay

As the property industry gets back on its feet following lockdown, virtual tours are proving to be a huge success and are predicted to become the 'new norm' when it comes to moving house. 

Agents across the country have been embracing virtual tours and have been busy filming their properties for rent and to sell in an attempt to help buyers and renters that need to make a move. 

Rightmove has even taken the step of adding a widget to their website to highlight properties that have virtual tours available, and, they are reporting huge spikes in interest for property where a video can be viewed. 

Broadway House Nottingham Virtual Tour

Jonathan Detheridge from Granger & Oaks in Nottingham explains more..

"Virtual Tours are proving to be hugely popular with tenants in particular. The virtual tours we produce aren't particularly a glossy advertisement - we're not on television! The tours are factual and we are not trying to hide things we think people won't like. If tenants are making the decision to move somewhere, the video tour needs to show them what they are moving in to without the rose-tinted glasses on"

At Granger & Oaks we are also producing floorplans that sit alongside the tour to help homemovers really understand the size of rooms and the layout of the house. Viewers are then encouraged to visit the area so they have a good idea of the locale, and we follow this up with a Zoom call to answer any questions they may have and discuss the letting process in detail.  

"We think that virtual tours are here to stay, and they are proving to be real game-changer. It's not unrealistic to see video tours becoming as important as bright clear photographs when it comes to attracting homemovers."

If you are looking to let your property, video tours are a huge aspect to consider. In fact, as we head in to the busy summer months with lockdown still at the forefront of peoples minds, video tours should be an essential, not an option. Call us today if you'd like to see how a virtual tour from Granger & Oaks can help you let your property. 

 

With coronavirus lockdown continuing across the UK, Granger & Oaks are doing as much as we can to help tenants that need to move in these challenging times, and assist landlords in letting properties that would otherwise be sat vacant..

Virtual Tour

For all our properties on the market we now have Virtual Tours available and we are following up tours with Zoom meetings to help tenants raised any queries and explain the letting process and measures we are taking to help them move home safely during the pandemic. 

Granger Oaks Lettings Virtual Tour

We're doing everything we can to help landlords and tenants during this unprecedented time, and we think the virtual tours we are producing really help viewers make an informed decision. 

For tenants currently living in property we manage we are also still carrying out repairs where possible. Our tradesmen are taking every precuation and they are working with tenants to try and complete repairs whereever possible. 

If you're a landlord and you require help wih the letting & management of your property, contact Granger & Oaks today to see how we go the extra mile. Call us on 0115 9629770