Properties to rent in the Poole area in short supply Dorset hotspot

Poole a beautiful place to live and work

In Poole Dorset the demand for rental property is high and the interest from Companies looking to relocate is on increase. As more and more Company directors buy second homes in and around the beach and harbour locations its hardly surprising that the same business people are investigating the commercial property market for offices and industrial units. Tailor Made estate agents in Sandbanks report a lot of interest and sales happening to Directors of London Companies looking to buy a second home in or near Sandbanks many investing over 1 million pounds for designer homes close to the beach.

It must be said that office space is a fraction of the price of London. Within the last 5 years many Companies tightening their belts have rented space for their City back office operations and systems in and around Poole. The result has seen a continuous flow of new workers arriving in Poole and seeking rental property in the area. Demand has in the last 12 months outstripped supply and the recent increase in property sales has seen buy to let Landlords rent newly purchased homes out within 7 days of coming on the market.

Jamie Rolls of Tailor Made lettings Poole town office advises that existing landlords should take a fresh look at market conditions on renewal of contract. Jamie says "people tend to get trapped into a rental value void where existing agents looking for an easy renewal simply tell an owner that its best not to increase the rent and owners comply worried about the property coming vacant" The owner is often happy to do this but often does so for years on end. In Poole the average 1 bedroom apartment 3 years ago was renting for £500.00 pcm most owners in the area who have renewed several times in that period are now seeing rents of £575.00 pcm yet the same flats on the market to new comers are letting for £650.00 pcm. The key here for property owners is to seek small annual increases that keep up with inflation rather than let a rent stay the same for several years and then ask for a large hike in rent. Jamie Rolls invites Landlords to contact him for a written rental analysis report as the stats make interesting reading and will indicate rentals in the same street or same postcode over the last 12 months. For those seeking to buy and rent out property the same analysis will show where the demand is highest in the area and what the average rents will be for a specified type of property in a stated location.

Tailor Made letting agency on behalf of a Gibraltar buyer recently sourced and rented a home in the desirable Lilliput area of Poole this particular owner was nervous about being out of the UK property market and wanted to invest in a property he would one day hope to live in on retirement. The client wanted to buy now whilst he still had income and with a view to returning to UK in next 10 years. Tailor Made Letting agency were able to find a suitable long term tenant for the property within 10 days of completion

A walk around the harbour and beach areas of Poole will reveal a buzz in the property market as more developers buy up many of the older properties and build in their place designer houses and apartments and you will also see that most of the homes that are built have a sold board on them. The South Coast of England is definately a property hotspot for the future and where the smart money continues to invest with Poole Dorset at the forefront.

. A recent property rented 3 days of coming vacant allowing time for cleaning polishing and a few maintenance items. Lilliput house.

Francis Payne 13 Sept 2014 www.tailormadelettings.co.uk

Fast moving rental market in Poole Dorset say Poole town centre Letting Agency Tailor Made Lettings

Try finding a property to rent in Poole Dorset The task is not an easy one as anything that is left on the market for more than 7 days tends to be very over priced or simply not of a standard acceptable to the price range its in. A quick glimpse at our website is a good indication of the residential letting market today. Our Tailor Made Letting agents website only has two properties available and we anticipate both will be rented to fully vetted tenants by the end of this week. The average time to rent out a house or apartment in Poole or Bournemouth for this market is now 7 days.

These figures are based on our Poole & Bournemouth operating area over the last 6 weeks during which time we have placed tenants in 14 properties from Westcliff to Sandbanks and as far West as Lytchett. Of course in this market where demand far exceeds supply finding a tenant is easy but Landlords should still be wary as in a market where there are few properties it normally means there are a lot of dubious people seeking to rent and rigorous vetting is still the best way to eliminate risk. Historic checks and credit checking is a must no matter who the person is check them out properly and ask your agent to provide details of the checks. The other check that a property owner should look into is the actual rental value. Many agents who do not specialize in renting homes do not keep their eye on the ball and we seen last month similar property rented out next door to each other with a discrepancy of One hundred & fifty pounds a month simply because it was easier for the estate agent to offer it at the same rent it had been let for for the past 18 months. Essentially the property came vacant and because of the agent it cost the landlord owner 1800 pounds for the 12 month rental. Are you getting the correct rental This is why at Tailor Made Lettings when a property comes up for renewal we use a market rental analysis system to create a written report for that particular street and the immediate surrounding location. The analysis creates a report dating back 12 months. Essentially you feed in property details bedrooms street detached etc and stats are produced and sent to the property owner for a decision on how much rent should be asked. The system works well where a tenant is due for renewal and when faced with a report detailing surrounding similar homes and the rentals for those homes the tenant is more inclined to accept an increase or at least negotiate, whereas without such proof a request to increase rent may result in being given notice by a tenant you do not want to lose.

Tailor Made Lettings are happy to provide owners with rental analysis report for your property. To obtain your report simply email us the address of the property, brief description, number bedrooms & postcode to jamie@tailormadelettings.co.uk or phone Poole 01202 673454 to go to our website click on our name Tailor Made Letting Agents

Landlords get it right !

To work or to Battle In summer of 1979 my mother pushed a copy of the Bournemouth echo job page under my nose telling me you have had your summer now get a job. Circled on the page an office junior job at a local estate agency. I made the call and was given an interview. On arrival at my new job there was no plush office. A ply wood screen with 10,000 pin holes, patrolled by ants and loaded with faded curling card offering shops offices and rental homes. A herringbone wooden floor and desks from the 1950s. A boss worth millions who owned 20% of property in the area and managed another 20% for old school mates. We serviced Landlords who had handed property to tenants new in the late 1940s & 50s but who had never spent a penny on the homes since. By the late 1970s the original protected tenants on regulated rents were vacating or dying. The properties were grim rotted flooring, nail sick roofs led pipes china sinks and cast iron hot water tanks. As the properties came vacant most were re-let. I organised repairs to nail sick roofs,rotted flooring,rotted windows, new kitchen sinks, gas central heating, and a lick of paint. After spending 5000.00 on a property it still looked naff but we still managed to find tenants. The result was that more often than not the properties were problematic and occupied by agrieved tenants continually complaining. I used to say that every morning I put on my tin hat ready for battle. I was rewarded with hard work, great training and the promise to myself that when I started my own business I did not want to do battle every day. Fourteen years later I was able to put that ethos into practice. No bedsits no student housing and no dilapidated homes would mean that all my energy would be concentrated on looking after nice homes and dealing with mature well mannered customers. I wanted to make work a pleasure not a chore. Find the right property choose the right occupier and if you get it right, managing the property will be smoothe and efficient. Of course many times over the years I arrived at a property that fell far below the standard required to find the type of occupier that I preferred to deal with. I was very aware that to take on a property with a load of issues was detrimental to my business so I would often quote commission rates of 17.5% way above the industry standard simply to lose the instruction. Tenant vetting was equally important and Tailor Made Lettings was the first agency in our area to provide 16 point check/48 hour referencing. Managing property is all about systems and applying risk minimization techniques that are proven to work. Experience is key and managing expectations is very important. Telling a Landlord that if he professionally cleans the carpets Tailor Made will look to ensure the tenant does the same when they vacate, follow up by a simple written pre-warning to the tenant that the owner has used a professional company to clean the carpets at a cost of two hundred pounds ready for your occupation and will expect the same courtesy when you vacate. In this instance you have managed expectations for both sides and the result will be a smoother process at the end of the tenancy with both sides aware of their responsibility. If you are about to rent your property here are some tips that are worth inquiring about before giving instruction 1. Insist on 3 references: bank, work, previous agent /landlord & a credit check. Make sure you see all three and not just the good refs. Some agents may use a referencing agency which include all these checks. Agents desperate for commission may simply want to get deal signed away and provide you with 2 good references but hold back the bad one. I get most agrieved when we turn away a tenant due to bad reference only to find they have gone to the agent down the road and been accepted. Happens all the time particularly in the multi chain agencies 2. Ask the agent to provide some comparable eveidence of rentals achieved in last 6 months for the area. Agents will quote a high rent to get the instruction then pressure you with a low rent offer because its slow to shift. An established agent will have comparable evidence to support the rental valuation and find a tenant quickly at that rent or near to it 3. Make sure you have the final say. Make it clear to the agent not to reserve your property until you have discussed and agreed the tenant is right for your property. 4. Use an agency that can provide 48 hour referencing. Longer can mean the tenant has time to see other property and your deal could fall through. Once referenced and approved by you ask the agent to set a deadline to sign the contract. Normally within 3 days of approval any longer and you need to ask why are we waiting. The worst thing you can do is wait a month until the start date to sign up then the tenant decides they do not want it. After 33 years in the business there are literally hundreds of safeguards that can be used to ensure a smoothe rental we have in place letter templates for all situations and contracts adjusted and written to cover most issues. All this with good working practice makes for happy landlords and just as important happy tenants Francis Payne