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Looking after your investment

Letting a property is much like any other investment, it produces income (or yield), gains capital growth and attracts taxation. However, it has more in common with fine art or fine wine than it does with stocks and shares portfolio's - in that it must be cared for and protected from both the elements and the ravages of time. Whilst ethics can dictate the decision to acquire holdings in a particular company, property, like art is about personal taste and in my experience, landlords buy properties to let that they too like. Decisions for investment are always led by indices such as return and growth but with buy to let properties, investors have an affection for their assets and rightly so. Property, as an asset class has given phenomenal growth. Since the Halifaxbegan trackinghistorical UK house pricesin 1983, by the beginning of 2012; house prices had risen nationally by 428% and London house prices were up by 559%. It is also one of the only investments people call home. The jury is still out over house boats as an investment. Althougha converted VW campervan would have set you back between £850 and £1300 in the 1960's. Their prices has now risen to anything from £3000 for a wreck in need of major restoration to in excess of £50,000 for a fully restored Splitty! Regulatory requirements include health and safety assessments of gas appliances and water systems but there is so much more to looking after a client's property than ensuring compliance to legislation. Understanding a client and their house or an entire portfolio is paramount. Prevention is better than cure and wherever possible, problems need to be identified before they happen. The same is true when providing recommendations before a sale is launched - issues are preempted and an action plan put in place. Experience though, counts. Having been a landlord as well as a tenant - I understand what should happen and what, in reality, does happen. References and financial checks are all well and good but a tricky customer or difficult individual is unlikely to make for a harmonious tenancy. As with buyers, we have little to base our opinion of their future behavior, other than years of experience and observing their actions up to the point of making an offer. Tenants should be happy in their rented homes and it is important we work with our clients to achieve this. They should have all a quiet enjoyment entails - equally, they should look after the property. As managing agents, it is our job to strike the right balance - and deliver both happy tenants and satisfied landlords, with their properties well looked after. However, the world of property, like any other - is not perfect. Things go wrong and problems arise. It is how we deal with problems that ensure we earn our charges. A stitch in time is always worth nine but tenants lead busy lives, like us all. To discuss how we can look after your property, as if it were our own - carefully. Call Winkworth Salisbury 01722 443 000. Winkworth Salisbury The Brewery House 36 Milford Street Salisbury SP1 2AP Tel: 01722 443 000 http://www.winkworth.co.uk/estate-agents/salisbury      

Letting a property is much like any other investment, it produces income (or yield), gains capital growth and attracts taxation. However, it has more in common with fine art or fine wine than it does with stocks and shares portfolio's - in that it must be cared for and protected from both the elements and the ravages of time.

Whilst ethics can dictate the decision to acquire holdings in a particular company, property, like art is about personal taste and in my experience, landlords buy properties to let that they too like. Decisions for investment are always led by indices such as return and growth but with buy to let properties, investors have an affection for their assets and rightly so.

Property, as an asset class has given phenomenal growth. Since the Halifaxbegan trackinghistorical UK house pricesin 1983, by the beginning of 2012; house prices had risen nationally by 428% and London house prices were up by 559%.

It is also one of the only investments people call home. The jury is still out over house boats as an investment. Althougha converted VW campervan would have set you back between £850 and £1300 in the 1960's. Their prices has now risen to anything from £3000 for a wreck in need of major restoration to in excess of £50,000 for a fully restored Splitty!

Regulatory requirements include health and safety assessments of gas appliances and water systems but there is so much more to looking after a client's property than ensuring compliance to legislation. Understanding a client and their house or an entire portfolio is paramount. Prevention is better than cure and wherever possible, problems need to be identified before they happen. The same is true when providing recommendations before a sale is launched - issues are preempted and an action plan put in place.

Experience though, counts. Having been a landlord as well as a tenant - I understand what should happen and what, in reality, does happen. References and financial checks are all well and good but a tricky customer or difficult individual is unlikely to make for a harmonious tenancy. As with buyers, we have little to base our opinion of their future behavior, other than years of experience and observing their actions up to the point of making an offer.

Tenants should be happy in their rented homes and it is important we work with our clients to achieve this. They should have all a quiet enjoyment entails - equally, they should look after the property. As managing agents, it is our job to strike the right balance - and deliver both happy tenants and satisfied landlords, with their properties well looked after.

However, the world of property, like any other - is not perfect. Things go wrong and problems arise. It is how we deal with problems that ensure we earn our charges. A stitch in time is always worth nine but tenants lead busy lives, like us all.

To discuss how we can look after your property, as if it were our own - carefully. Call Winkworth Salisbury 01722 443 000.

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Winkworth Salisbury The Brewery House 36 Milford Street Salisbury SP1 2AP

Tel: 01722 443 000

http://www.winkworth.co.uk/estate-agents/salisbury

 

 

 

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