April Newsletter: Our top tips and lettings market updates

April Newsletter: Our top tips and lettings market updates


Welcome to the April edition of the Greenstone, newsletter where we share the latest property news and guidance. We hope that you are all keeping safe and well at home during these testing times. The team at Greenstone are working from home so that we can continue to support our clients and customers in any way that we can.

First up this month, we would like to share our video viewing facility with you. We have a number of properties on the market with video tours available; so that you can step into your dream home from your very own sofa. If you were curious about the value of your home, we can still help you to facilitate your future property aspirations through online and virtual appraisals. Please contact us for further details.

Further on you'll find an update for landlords on the recent government legislative changes, some tips for a swift spring clean, and also our advice to help you self isolate.

We hope you enjoy this months edition.

Best regards

Lewis Green, Director


Ceramic Art Event London 2020

Friday 20th March 
 
The UKs favourite ceramic event returns larger than ever.

Click here to read Ceramic Art Event London 2020.



Greville Road, NW6 £795,000

A beautifully presented two bedroom apartment situated within a period conversation. This apartment situated on the second floor comprises a bright and spacious reception room, separate fitted kitchen, master bedroom with stunning views overlooking the communal garden, second double bedroom and family bathroom.
 
 

Click here to read Greville Road, NW6 £795,000.



Randolph Avenue £1850 PCM

Video Viewing Available. Ideally located near Warwick Avenue station is this stunning apartment on this popular quiet residential road with access to stunning communal gardens.
This apartment comprises a reception room, fully fitted kitchen, double bedroom with a bright interior and bathroom.
 

Click here to read Randolph Avenue £1850 PCM.



Conducting A Property Viewing From The Comfort Of Your Own Home

 
In order to make the most of being at home, you may be thinking about the current value of your property and whether you may want to sell-up later in the year, or what you can do to maximise the value of your home. Many estate agents are now flexing with the current situation and offering virtual viewings in order to allow you to plan for your property transaction and search for the right property, but how do we value your property without ever stepping foot in your home?

The first solution is simple – online valuation tools. Online valuation tools have become increasingly more popular as their accuracy improves, and as people become more aware that the values are a rough guide rather than a solid appraisal figure. These tools look at land registry data to ascertain the price a property was previously valued at and then use matrices in order to give you a value in today’s inflated rate. Although the estimates can vary, they do give you an idea of the value your property could obtain on the open market, and allow you to have conversations with your agent about selling your home.

The next solution to have your property appraised remotely is more technological – by using video calling applications such as Skype, Zoom, Facetime, WhatsApp and others you can walk an estate around your home. You will be able to talk to the estate agent and they will also be able to guide you in terms of what they need to see to give you an accurate figure – they can also inform you of where the most valuable improvements can be made.

Finally, if you do not have the technology or the know-how to facilitate a video call, then sending over specific images of your property to your estate agent should be sufficient to give you an estimate of your property’s value. In principal, an estate agent will need images of the exterior of your property, including any gardens, garages and parking, as well as an image of each room of the property. If any further clarifications are necessary, your agent will call or email you so that your valuation isn’t delayed.

We would like to emphasise the fact that during this period you can make plans which will help to facilitate your property aspirations in the future – we are here to help you however we can.



Updates To Navigate The Lettings Market


In response to the COVID-19 outbreak, the government has created emergency legislation, advice, and guidance to support the housing market. But what does this mean for the lettings market? With the many updates and changes, it can be difficult to pinpoint what changes and support affect you as a landlord. To cut through the noise, we have put together the latest Government measures to help you navigate the market during this difficult time.

No new evictions
If a tenant is struggling to pay their rent due to the impact of Coronavirus, the government has brought in emergency legislation that includes a ban on any new eviction in both the private and social rented sector. It is hoped that this will take the pressure of millions of tenants up and down the country who may be unfit to work or may have sadly lost their jobs due to the impact that Coronavirus had has across the nation. The legislation states that new proceedings to evict tenants will not be able to begin for at least a three-month period. After this, it is advised that landlords and tenants develop their own rent repayment plans that consider the tenants individual circumstances. The Government asks that landlords show compassion to their tenants during this time and allow them to stay in their homes where possible.

Rent Holiday
As a private Landlord you may be concerned that Tenants stop paying their rent and you lose an income you are relying on. At Greenstone we have had a handful of tenants request payment holidays already, and although it is currently a very small percentage of our managed portfolio we are still in uncharted territory and expect more requests.
 
We have devised the following plan as a minimum that a Landlord should offer, however, some landlords feel that they want to help tenants further and are offering reductions over 50 % and temporary three month reductions that do not need to be paid back in the future.

The tenant(s) should initially provide evidence of their redundancy/pay cut. Upon confirmation, the tenant(s) should propose a percentage of the monthly rent not less than 50%, to which they can commit to paying for a period of 3 months. At the end of the 3 month period, we will review the situation with them and either revert back to the full rent payment, or make adjustments where necessary. Any rent that goes unpaid will continue to accrue and must be paid by the tenants, whether before or after their tenancy expires depending on what arrangement has been made, normally without interest.

Landlord and Tenants will sign an Addendum to the Tenancy drafted by Greenstone with any agreements made.

Three-month mortgage payment holiday
In line with the ban of new evictions, the Government has introduced a three-month mortgage payment holiday for buy-to-let landlords, and homeowners struggling for funds to pay their mortgage. Obtaining a mortgage payment holiday requires you to contact your lender, who will consider your circumstances on an individual basis, so it is important that you are open and transparent about your situation as soon as possible. You should continue to pay your mortgage until you have reached an agreement with your lender. The housing secretary, Robert Jenrick MP, said “The government is clear. No renter who has lost their income due to coronavirus will be forced out of their home, nor will any landlord be facing unmanageable debts”. So as long as you contact your lender in good time, this should take a lot of pressure off landlords and homeowners.

What about unmortgaged rental property?
For landlords with a portfolio of homes that they own outright and offer for rent, there are currently no measures in place [as of 25/03/2020].

Recording tenants who are self-isolating
If a tenant in your property is currently self-isolating due to exposure to symptoms of COVID-19, or they themselves are experiencing symptoms, you should record this along with all conversations that you have with the tenant. If you have an upcoming visit to the property scheduled, such as a property maintenance or inspection visit, you should not put your staff or contractors at risk. You should cancel the visit until the tenant is over the illness and no longer has to self-isolate. Your record of communication with the tenant should evidence that you took reasonable steps to show that you intended to visit the property and that you used advice from Public Health England to prevent the spread of COVID-19 by rearranging the visit.




Top Tips For A Swift Spring Clean

 
It’s officially time for a spring clean! The lighter days and warmer weather can get you in the mood for a post-winter spruce up to rejuvenate your home. Check out our great tips for cleaning your home.

Declutter
The first and hardest step in the entire process. It’s vital you take a brutal stance when it comes to decluttering your home. If you don’t like a decoration or if you have an outfit that you haven’t worn since 2010, just throw them away or donate them. Don’t just focus on one room – ensure you search every part of your house, especially in rooms like the kitchen and bedrooms where clutter can quickly get out of hand.
The problem with clutter is it quickly manages to grow again! You might wish to consider setting up a bag, box or bin that you can designate as a “donation bin”. In the future, you will be able to sort clutter as you come across it, and then donate it all to charity as soon as you fill up the bin.

The bedroom
Your wardrobe is a key area you should focus on when having a de-clutter, however, unlike other areas of your home, there is potential money to be made when clearing this area! If you have a hardly worn item of clothing, consider putting it on a Facebook sale page or eBay to generate a little extra pocket money.

There are also some areas of the bedroom(s) that will most likely be in need of a little TLC. Make sure you clean underneath all the beds, dust the curtain rails and even consider flipping the mattress.

The kitchen
It’s more important than ever now that our surfaces are kept clean using disinfectant. Did you know that you should leave disinfectant untouched on a surface for around 30 seconds before you wipe the area? This is so it has time to work and kill harmful viral bacteria. You should clean your work surfaces more frequently as well, to keep the germs at bay.

After the surfaces, there are a few areas of the kitchen that can prove to be a big job on their own. After you have finished de-cluttering your cupboards of old pots and spices you only used that one time, you should then turn your attention to the appliances.

The fridge is a good place to start. Clear out all the old produce and table sauces, give it a really good clean to get rid of all the odours and then try to stay on top of its organisation, which will save you a job in the future.

Have you been avoiding cleaning the microwave for the past few months? Luckily, there is a quick and easy way to clean your grease spattered appliance. Simply place a combination of vinegar and water in the microwave, heat it up for ten minutes until the solution is steaming, then simply wipe away the grease.

The bathroom
The bathroom is another time-consuming job. The tiles, floors, toilet, bath and sink may be ready for a deep clean. This requires a full gutting of all the beauty and hygiene products, and a good deal of manual labour to remove any troublesome stains like limescale or mould that might have built up over the winter.

There are thousands of home remedies available on the internet so if you’re short on cleaning products, you will likely have the right substitutes at hand. So, roll up your sleeves, snap on the yellow gloves and give it a bit of elbow grease.

Our little secret…
Want to add the perfect touch to your spring clean? Take a leaf out of our book and put a cup of vanilla extract in the oven for an hour. Your home will smell like a bakery in no time!



Tips To Help You Cope Self Isolating

 
With millions of us now advised to self-isolate and practice social distancing to prevent further spread of Covid-19, we all must make adjustments. It might sound simple at first, to just stay indoors and end social meetings, but it can present various challenges such as anxiety, loneliness, and stress. There are coping mechanisms that we can incorporate into our daily routines to help combat any challenges we may face during this time. Continue below for some helpful ideas to support you in self-isolation.

1. Remember you’re not alone
It’s so important to remind yourself that we are all in this together. The whole country has been asked to quarantine so we are all going through similar thoughts and feelings; and everybody has their own personal circumstances to muddle through. Take some comfort in being a part of one big community doing your own part in battling through this pandemic.

2. Have conversations with people
The power of talking to someone is immense. Just because we can’t physically go and socialise doesn’t mean that we must stop socializing altogether. Make a conscious effort to pick up your phone and call family, friends, and work colleagues. You should try to do this daily. You could even create a new daily routine, such as having a morning coffee with a family member virtually. If you have the facility to do this over a video call, then even better!

3. Use social media
Similar to point number 2, use social media to communicate with your friends, family and work colleagues. This will help you to maintain your strong connections and relationships with people and help you to feel more supported, avoiding feelings of loneliness.

4. Plan your time
It can be very easy to lose all the structure from your days which can often leave us feeling unmotivated to do anything. By planning your time, you can recreate a routine into your daily life so that you feel more active and your body can release those positive hormones. Doing activities in the home can give you a sense of fulfillment and allow you to do things that you previously did not have the time to do. If you have children, planning a routine or schedule can also be helpful for them adjusting to being at home instead of school.

5. Use your support network
In stressful times, it can be easy to shy away from reaching out to people. But it is crucial that you do so. If there is something that you need and are unable to get for yourself, such as groceries, contact family or friends to ask if they can get these for you. They can leave them on your doorstep for you to collect so that you can maintain the government isolation rules.

6. Focus on the facts
There are so many articles about Coronavirus online, as well as ongoing news updates on TV; it can be a bit overwhelming at times. Within all this information is a lot of speculation; especially on social media. Try to stick to the respected health advice websites when looking for updates, such as the NHS, Public Health England, and Gov.uk. If you do start to feel overwhelmed, try to limit your news intake to just once a day.

7. Don’t ignore how you’re feeling
Don’t be hard on yourself if you feel stressed or worried. It is normal for those feelings to come and go at times. One way to manage your feelings is to write things down in a diary as a way of acknowledging how you feel. Reach out to someone to talk about how you feel, or to take your mind off it completely. You can also use activities that you enjoy in the house so that you feel in control and enjoy your time.



Mind 'n' Soul Charity Night

Saturday 21st March
 
5th Chsroty Soul Night in aid of Mental Health UK.

Click here to read Mind 'n' Soul Charity Night.



Central London Craft Beer Tour

Saturday 21st March
 
Have a bit of culture with your drinking with a tour of six pubs.

Click here to read Central London Craft Beer Tour.