PROPERTY INVESTMENT SPECIALISTS PURPOSE BUILT STUDENT ACCOMMODATION HOLIDAY LETTINGS PROPERTY MAY 23
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New to property investment? Avoid these common mistakes!
If you’re new to property investment, it’s important to be aware of the common mistakes that beginners make. From not doing your research to not having enough capital, there are a range of pitfalls to avoid when investing in property. In this blog post, we’ll look at some of the most common mistakes when it...
Property blogging is just one of the ways we keep you up to date with what to expect in the ever changing climate.
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Bank of Englands Agents’ summary of business conditions - 2023 Q1
The Bank of England has released their Agents’ summary of business conditions for Q1 2023, you can read..
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How to Decorate your Property for Maximum Occupancy for Short Term Lets
Are you considering renting out your investment property as a short term let or serviced accommodation? If so, it’s important to make sure your property is properly furnished and decorated to help you maximize occupancy. Decorating a property for short term lets can be daunting, but with the right tips and tricks, you can make sure your property is ready to rent out. In this blog post, we’ll provide advice on how to furnish your property for maximum occupancy for short term lets and serviced accommodation.
Keep it Simple
When it comes to furnishing your property for a short term let, it’s important to remember that less is often more. You don’t want to overwhelm your tenants with cluttered and busy decor. Instead, aim for a simple and minimalist approach. This doesn’t mean you have to sacrifice comfort or style, but rather focus on the essentials. Overall, keeping it simple will ensure that your property is appealing to a wide range of tenants, whether they are leisure or corporate tenants. It will also make cleaning and maintenance easier for you, which is always a bonus. So focus on the essentials that will make your property comfortable and welcoming.
Invest in Quality Furniture
One of the most important factors in furnishing your property for short term lets is investing in good quality furniture. You want your guests to feel comfortable and relaxed, so make sure your furniture is both stylish and functional. Good quality furniture will not only last longer but it will also be more comfortable for your guests, ensuring that they return time and time again, and more likely to leave a positive review.
When choosing furniture, think about the different types of guests that you may have. If your property is targeted at corporate clients, consider adding a desk and office space in the bedrooms or lounge. For leisure tenants, perhaps a hot tub or some comfortable outdoor seating will be more appropriate. We have a number of properties where hot tubs have proved popular and has increased monthly bookings considerably.
Zip-linked beds are also a great investment as they allow for flexibility in room configurations, allowing your property to appeal to more tenants, potentially meaning increased revnue.
Lastly, make sure to provide all the necessary kitchen utensils and essentials, such as extra bedding and towels, to ensure a comfortable stay for your guests.
By investing in good quality furniture and providing thoughtful touches, your property will quickly become a popular choice for short term lets guests and will stand out compared to the competition.
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PROPERTY OF THE MONTH
This months property is in Aberdeen. City Point is ideally located within a City Centre location adjacent to Aberdeen’s West End. The properties in the area have the benefit of having access to all the amenities associated with the city centre, and enjoy immediate access to leisure, retail, and cultural opportunities. The properties are an ideal position to take advantage of the ever-growing short term let market.
For investors, the prospect of more jobs in higher-paying and more ‘future-proof’ industries is important. It should help to boost demand for higher quality accommodation and, crucially, people’s ability to pay for it. Moreover, billions of pounds are now being funnelled into Aberdeen, creating yet more jobs and creating the foundations for ongoing growth.
Investment Highlights:
• Build Status: September 2024
• Predicted NET Yield - 11.85%
• Prices from £140,000
• 10 Year Build Warranty
• Extremely High Standard Finish Internally
• Apartments: 17x 1Bed, 4x 2Bed. 2x 3Bed
• 5 Parking Spaces Available at £10k each
• Ideal for Short Term Holiday Lets
• 250 Year Lease
• Units Available: 23
• Finance: Yes**
Management Company
Residential Estates – We will be managing the apartments ourselves for all those investors that wish to use us. We have over 12 years of experience in the holiday/ short term let market and are excited to take on this scheme. We will be working with businesses and leisure facilities to ensure occupancy and nightly rates remain high there.
About the Developer
The Ladson Group is a fully experienced developer that have completed both large-scale commercial projects and residential projects. Most notably like City Lofts was that of City Suites in Chester that was also a conversion of 21 apartments and is now fully operational as short term lets.
The Ladson Group was founded in 1980 and we are a privately owned investment property development company. Based in South Manchester, our aim is to provide the highest standard of accommodation both in the student and residential sector throughout the UK.
For More Details on Aberdeen Click HERE
“Wouldfullyrecommend, excellentserviceand communicationfromstartto finish”
-Philip Makin
We are working closely with Hargreaves & Woods, who can assist you with business development and specialist tax services.
Their philosophy is always to:
• Provide friendly, courteous and efficient service
• A lways exceed your expectations
• Listen to what YOU are saying
• Communicate with you quickly and fully
• Never surprise you with bills you’re not expecting
• Be honest, truthful and upfront with you at all times
• A im for you to pay the least amount of tax payable
• Provide pro-active business advice wherever possible
May Questions and Answers
Q. The payroll for my business has increased during 2022/23, so the employer’s NIC bill topped £100,000 for the first time. Does this mean I can’t claim the Employer’s Allowance for 2023/24? Is there anything I can net off against the NIC liability to bring it down below the £100,000 threshold?
A: You are correct that you will not be able to claim the Employer’s Allowance of £5,000 for 2023/24 as your employer’s NIC liability for the previous tax year (2022/23) has equalled or exceeded £100,000. There is no mechanism for setting off any other liability to reduce the total of the Employer’s NIC for this calculation. However, you shouldn’t include any employer’s NIC on “deemed payments” to contractors caught by the off-payroll working rule.
However, you shouldn’t include any employer’s NIC on “deemed payments” to contractors caught by the off-payroll working rule.
May key tax dates
Newsletter issue – May 2023
1 - Where the taxpayer has not submitted their 2021/22 selfassessment tax return by midnight the following penalties apply: for online filing - £10 daily penalties
for filing on paper - the greater of £300 or 5% of the tax showing on the return.
3 - Employers must submit the form P46 (Car) to HMRC for employees who have been provided with a company car for the first time during the quarter to 5 April 2023.
Planning for retirement
On 6 April 2023, the pensions annual allowance increased from £40,000 to £60,000, and the pensions lifetime allowance was effectively abolished.
You can now contribute far more to your pension funds each year, and so can your employer. Any unused annual allowance can also be carried forward up to three years.
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“Theprocessofre-sellingmy flatviaResidentialEstateswas professional,thorough&helped bythemhavingpreexisting knowledgeofmyproperty.The teamwereproactive&assisted withprogressingthesaleat pinchpoints. Iwouldthoroughlyrecommend ResidentialEstatesasaresellingagent.”
- AnonymousHomeseller
Updated Location Guides
Hull
Understanding Hull’s investment appeal is by no means rocket science. It’s a city where rental...
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Manchester
When it comes to property investment, Manchester is undoubtedly one of the UK’s most popular and best-known locations...
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Location Guides
Residential Estates have compiled several resources and guides to property investment locations set for growth in 2023. These guides offer property investors an in-depth insight into each area and what potential growth each area can offer for investors, as well as considering the different types of investment property available.
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Each guide will contain a detailed look into the following factors in regards to each region: the local economy, regional inward investment, current developments available, the principal growth sectors, the local housing market and regional investment predictions for 2023 and beyond.
All Location Guides Here
PULSE ON PROPERTY
The Mini Pod
This month we’re mixing up how you view. We’ll be making our fantastic webinar videos shorter for your convenience, with 10 minutes of video on our hot topics and if you’re listening on your drive, our Spotify podcast will still be full length at 45 minutes to an hour, so you don’t miss a thing!
We will still be giving you the opportunity to ask your questions, only now, we do ask that you send them into us ahead of time. You can do this through our sign-up page like usual!
We will also be posting our shorts every 2 weeks instead of monthly full-length episodes, this is so we can make sure you’re getting the latest and most up to date information about property, as it’s happening.
Don’t forget to subscribe to our Pulse on Property YouTube page so you never miss an episode. Follow on Spotify for the full-length episodes, perfect for those business commutes.
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The property podcast that answers your questions
MORE UPDATES
Claire House Charity Claire House
Last month our amazing team trekked up Snowdon to raise money and awareness for the fantastic Claire House Childrens Hospice Charity. This is something close to our hearts and encourage anyone who can to please donate to this heart-warming cause.
This month our team will be to Pen Y Ghent, the first Peak of the Yorkshire 3 Peaks. We will be walking to the top so we can continue to support the amazing charity work of Claire House Childrens Hospice. If you would like to see other Charity work that we are involved in, please click the link.
We’re on Whatsapp
We have opened our exclusive VIP property community on WhatsApp. To join and be the first to know about new upcoming investment opportunities, below market value opportunities, exclusive offers and more, please follow the link below.
Become a Whatsapp VIP Make a Donation Here Click to Learn More
PoP Podcast
All our webinars are now available to play on Spotify, Amazon music and Google Podcasts! If you want to play catchup or simply hear our beautiful voices, take a listen and become a regular. Don’t forget to tap that follow button so you know when the next episode will drop.
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The Open at Royal Liverpool
Are you looking for a place to stay for the 151st Open at Royal Liverpool? Well we’ve got you covered! Gospel View is a beautiful apartment located in Heswall on the Wirral. Just 5 minutes from the Golf Course. View our Wirral properties on the link below.
Landlord investment show
On the 4th July we’ll be in London!
Come and see our handsome chaps at the Residential Estates booth, chat property, ask any questions or reservations you may have and maybe even win a prize or two. We hope to see you there!
Book Tickets Here
View Apartment Here
01244 343 355 www.residential-estates.co.uk Kinnerton House, Chester, CH4 9EP