You may contemplate whether any external works need tending to in the near future, as it is a good idea to keep your property ship shape. It is much easier to get work done in fairer weather conditions and whilst the going is good rather than trying to fight the elements when they hit harder later in the year. Take time to check out roofs, guttering, pointing, lead flashing and if your property is rendered, check for any patches, which may be blown and could therefore lead to damp ingress. If you are aware of any niggling internal damp issues which have arisen in the past, now is also a good time to tackle these before cold weather, damp air conspire to create condensation and mouldy black patches which ruin the decoration and are very off-putting to prospective tenants.
And don’t forget – if you plan to take a break yourself, be sure you inform your letting agent or your tenants directly and provide them with a UK-based emergency contact, which has authority to act on your behalf to avoid any unwanted calls on the beach!
The months from July to the end of September are the busiest in the letting agents’ calendar. Typically letting volumes will be around 30% higher than at other times of the year and contrary to popular belief it’s not the student letting market that is responsible for the uplift. It’s often the case that job searching in the early new year leads to a spate of relocations and people are inclined to move into that bigger property which their growing family needs and settle the children into their new school before the new autumn term begins.
If you are thinking about making your next investment it’s a good time to hunt for bargains as property which was listed for sale in the “daffodils” listing season around Easter and which has not sold is now looking a little bit marooned. Typically, as the majority of people are caught up in ‘holiday fever’, you can take advantage as the market slows down. You will tend to find that there are fewer people looking to buy property at this time of year and yet plenty of people who would like or need to sell their home. As in the Christmas holiday season, the summer can be a great time to pick up an excellent property deal. We suggest investigating the website www.mouseprice.com which provides valuable information on how long properties have been marketed for and which ones have been reduced in price.
Martin and Co Residential Letting agents and Property Management, Uckfield & Lewes.