Continuing to let more properties and winning more new instructions in the local area, than any other Agent over the past year (source: Right Move)
Calling all Landlords
We are calling all our landlords to ask one simple question: “Are you getting all you need from us as your Letting Agent?” This may open up other choices for you and is an opportunity for us to advise you on any relevant letting matters and to check out your future plans for your property.
For example, regular house visits (we recommend two per year) can alert you to any issues that can be nipped in the bud, before they become a major problem. We can carry out house vists for you – just let us know.
Energy Bills
We are all being affected by rising energy bills – including your tenants. If the EPC rating on your rented property is worse than a “C” then you could start making improvements now (before the 2025 deadline) and help reduce your tenant’s energy bills, which are expected to double within a year.
This can be as simple as adding extra roof insulation and/or installing energy efficient lighting. More substantial is cavity wall insulation, replacing old boilers or installing double glazing.
We are also contacting tenants to advise them how they can help reduce their household bills with some simple money saving tips.
Porchlight
Thank you for your fantastic support in helping homeless people in Kent get back on their feet.
With your monthly donations and Jago & Jago’s contribution, we are getting closer to our target of £150.00 a month, which is making a real difference and giving help to those people who most need it.
We can do more! Please take a couple of minutes to watch the attached video. If you have not already joined the scheme and would like to, then please contact us.
It is really simple to start and donations cost less than £1.00 a month (allowing for tax).
£1 X landlords + J&J = a real difference
Taxi
What can you claim against tax on your rental income?
General maintenance and repairs to the property, but not improvements (such as replacing a laminate kitchen worktop with a granite one). But, double glazing can be offset against tax.
Water rates, council tax, gas and electricity.
Insurance, such as policies for buildings, contents, public liability.
Costs of services, including the wages of gardeners and cleaners.
Letting agent fees and management fees, charity donations.
Legal fees for lets of a year or less, or for renewing a lease for less than 50 years, and accountant fees.
Rents (if you’re sub-letting), ground rents and service charges.
Direct costs such as telephone, stationery, advertising for tenants.
Vehicle running costs (only the proportion used for your rental business) including mileage rate deductions for business motoring costs.
The Lettings Market
Demand continues to outstrip supply. According to Zoopla average rents rose by 8.3% in the final three months of 2021. Rent increase estimates vary from 2.5% to 4+% for this year. Of course, affordability needs to be taken into consideration, especially with general household costs increasing, and inflation forecast at 7.4%.
To rely on your rental property producing a regular return, we strongly advise you to take out a Rent Protection policy that pays the rent if the tenant defaults. In the current economic climate, this is more important than ever.
If you do not have Rent Protection in place or are thinking of letting another property, we can advise you. Call Hannah on 01580 763577 or Jeremy on 01424 838398.
If this Journal raises any questions whatsoever, please do not hesitate to contact us: 16 High Street Tenterden Kent TN30 6AP [email protected] 01580 763577