The number of landlords who are feeling optimistic about the rental market is at its highest level for five years. The latest survey of over 600 landlords from Paragon Bank questioned landlords on their expectations for rental yields, the future of their lettings portfolio, capital gains, the private rental sector and the wider UK financial market revealed that the outlook was more positive than levels seen in the previous survey in 2016. Landlords with the outlook to be either “good” or “very good” has been consistently rising following record low levels seen in the first quarter of 2020. The survey also highlighted a link between optimism and portfolio size, with landlords who manage larger portfolios more positive about the prospects for their own lettings business. The survey found that 56% of landlords with 11 or more properties felt “good” or “very good”, falling to 46% for those with between one and 10 properties. Confidence in landlords can affect their purchasing decisions with 63% of landlords who have recently bought a property having a positive outlook, compared to 48% of the total of landlords surveyed. In addition, 78% of landlords who plan to expand their lettings business in the next 12 months are optimistic, whereas confidence was seen in a lower proportion, 26%, amongst those looking to divest. Landlord confidence dropped sharply in the Q1 of 2020, as the extent of the pandemic became more apparent. However, it appears that optimism has bounced back which shows that the sector is strong with plenty of opportunities for landlords. Demand remains at historic high  According to Arla Propertymark, the average number of people looking for a property to let fell from 107 per letting agent branch in August to 83 in September. This is higher than the 82 recorded per branch this time last year – making it the highest number registered in September. The number of properties managed per letting agent branch went up slightly on a monthly basis, from 196 to 199, which is higher than September 2020’s figure of 193. In addition, the number of tenants who saw their rent go up in September stood at 75%, down slightly from August’s figure of 79%. Despite a slight easing over the short term, in September 2019, 58% of tenants saw their rent rise and this year’s figure is the highest for September on record. If you have a property that you are considering letting out, talk to us at Newton Letting. We believe that every rental property is different and so is every landlord. As a result, we have several different options for landlords who want to manage their property through Newton. Whatever package you choose, you will work with a property manager who understands the local market and maximises your investment. Talk to us today for a letting valuation for your property.

Recent reports indicate that our energy bills are set to rise over the coming months as utility providers look to pass on the rising cost of fuel to its customers. If you’re renting a flat, it’s difficult to make any major changes to the property to help make it more energy efficient and even simple changes could be in violation of your letting agreement. If your rental property isn’t energy efficient, you could be spending over the odds to keep it warm during the winter. However, there are some changes you can make that will help to reduce your bills.

Talk to your landlord

Talk to the property owner to find out if there are some upgrades they would be willing to make to improve the energy efficiency – not only will it help to keep your bills down, but it will make it a more attractive rental property in the future should you move on. Make sure you report anything that needs to be taken care of including leaks or faults with appliances that could be causing you to use more gas or electricity - malfunctioning appliances will bump up your energy bill.

Water and heating

If you can, try and turn down your water temperature setting as this can really reduce your costs. If you live in an apartment and can’t access the water heater on your own, ask your landlord or letting agent for help. If you leave for work every day, make sure you aren’t paying to heat an empty home. If you have any control over the type of thermostat, choosing a smart thermostat can allow you to program the temperature in advance so you don’t have to do it manually every day. Making small adjustments to your thermostat can really add up. Finally, cutting back on how long you shower can lower how much electricity your water heater uses. You can also save energy by investing in an energy efficient shower head.

Energy efficient lighting

Make sure you’re using LED light bulbs, especially for light fixtures and lamps that you use often. These use up to 90 percent less energy and last 15 times longer than standard bulbs. You can also cut down on energy costs by turning off lights in unused rooms.

Avoid energy guzzling devices

Some devices and appliances consume energy even when they aren’t in use – be careful of phone chargers left plugged in and televisions and gaming consoles on standby. Unplug them or use power strips so you can turn everything off at once. If your kitchen is unfurnished, ask your landlord if they would upgrade to energy-efficient appliances – for example a refrigerator with a high energy rating could make a noticeable change to your bills.

Laundry

If you can, use a low temperature to wash your clothes as this can greatly reduce the electricity usage – in addition do larger loads less often and rather than using a tumble dryer try and line dry. Check wither you are on an Economy tariff as it could be cheaper to use appliances at night.

Weatherstrip windows

You won’t be able to replace windows but weather strips are effective in keeping the heat in.

Radiators

Don’t cover your radiators with clothes that need drying or put furniture in front of them otherwise the heat will be absorbed the airflow restricted.

Flooring

If you have hardwood, laminate or vinyl flooring use thick rugs to provide additional insulation.