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General update 23rd June 2022

Update 23rd June 2022.

Market
Writing today the market is still exceptionally busy across the board. In the last 12 months we have moved new tenants into 246 homes! It has become almost difficult to deal with the volume of enquires and the whole process of enquiry has been amended.  Today we have only 21 properties available, 9 of these are new to us, some have just been listed and 9 have applications yet to be fully checked.

In June 2022 so far (just three weeks) we have taken 45 applications for tenancy!

In many instances we are letting houses without even marketing and holding some houses back from the market in order to fulfil demand for clients such as the Royal Navy and those from the United States.

Rents

Overall these continue to increase and often as tenants depart the asking rent increases, this can be as much as 10% dependant on the length of the prior tenancy. We still consider various factors when looking at increases for existing customers looking to renew and continue to value those customers looking for long term rental and not just applying a blanket increase with 2 year tenancies under the right circumstances. The reality is with interest rates and  general inflationary pressure within an already busy market rents are likely to continue to rise for the foreseeable future.

Re-letting and renewal costs

We have slightly increased the renewal cost for let only landlords to accommodate for the significant compliance now required. We now tend to aim for a minimum initial lease of 9 months for furnished properties and 12 months with unfurnished properties to help avoid the work and cost involved in tenancy change.

Compliance

There has been some more changes to the information required on letting adverts which should be of help to tenants although many other agents are not even complying as yet.

 There have also been some positive changes in the right to rent requirements with digital, biometric checks now being provided in the form of “sharecodes” making this aspect a little simpler.

Tenant vetting

We have with reluctance tried outsourcing this but it has proved no quicker than and more importantly not as professional as it should be. Almost all agents now outsource the task of deciding who should rent your property and we believe this should be handled locally in house.

Staff

Stephanie has moved on to try something new and we have added Tina as a lettings negotiator helping the front office, Lynn as a lettings negotiator and Kerry in the administration team.

 Kayleigh has been promoted to the role of front office team leader and with over 14 years’ experience there are few letting staff anywhere with as much experience.  

Sophie has also been promoted to the role of lettings and marketing co-ordinator working with Sarah and Lynn.

We will shorty update the team page on the website to reflect the changes.

If there is one complaint we get it is that you may at times get calls from more than one of the team in a day and this is simply because at times there will be more than one of the team working on your property.

Advertising

We have decided to continue with the virtual tours as the feedback is great. We have created just over 450 videos so far on our YouTube channel. This brings between 2000 and 2500 views a month without pay per click promotion.

Our most recent sports sponsorship has been for Ulverston Wolverines a youth Rugby team and we hope to have some pictures to show you soon. We are continuing our support for Barrow Afc and Furness cricket club also.