Category: Landlord Link Blog

Looking to add value to your property? These are the two most important rooms in any house or flat. Find out where to put your money to attract tenants and buyers.

To maximise yields and minimise voids, it’s important for your property to appeal to tenants – both in person and in the all-important online photos.

Kitchens and bathrooms are definitely the two rooms in your house that carry the most weight with tenants and buyers. In the rest of your property you can rely on touching up paint, decluttering and some clever staging but it’s worth spicing up kitchens and bathrooms to grab tenant and buyer attention.

A newly renovated kitchen and bathroom can boost the value of your property as well as make it more attractive to tenants. New flooring, a fresh coat of paint, new door handles, window furnishings and light fittings can also make these rooms look appealing and new, without costing a fortune. The goal is to make them look great without wasting money or over-investing.

Bathrooms

Whether you’re looking to rent out your property or flip it quickly and move on, rest assured tenants and buyers will be looking closely at the quality of the bathroom. Updating bathrooms is a key way to getting better tenants and higher sale prices.

Bathroom suites can come quite cheap these days, so you don’t need to spend too much but they do need to be done well. In the bathroom, keeping it basic is essential. New fittings and fixtures will help it look modern, as well as ensuring that they are working well. Tenants do not like dripping taps or leaking showers!

If you don’t have space for a bath and a separate shower, the best option is to install a shower over the bath, either an electric one or one that’s attached to the bath’s mixer tap. You might be tempted to get rid of the bath altogether and go for a large, walk-in shower, which would certainly appeal to a lot of renters. Most people prefer showers these days and many tenants won’t miss the bath. However, if you don’t have a bath you could be limiting your market. A bath is ideal for families and a shower over the bath is a handy space saving option that can make life easier with young children.

If you’re thinking of fitting a separate shower, a fully sealed enclosed unit is good if it’s for a rental and have it installed by a professional shower fitter. Installing a ventilation fan is a great idea if the property doesn’t have one installed as this will help reduce the growth or mildew and mould.

Using a heated towel rail with a timer is another good idea that can help keep moisture at bay.

Kitchens

These days, most tenants are looking for modern up-to-date properties with contemporary kitchens although some will prefer the more older styles. Either way, tenants will still expect high standards.

A kitchen that is easy to keep clean is a must in any rental home. Quality, functioning appliances are essential. Renters don’t expect to have all the latest technology on the market but they do want appliances they can easily keep clean and tidy, and that are reliable – especially when it comes to ovens and dishwashers.

Modern appliances can save you money in the long run as they will require less maintenance. If you don’t already have a dishwasher, it’s worth adding one as this will automatically increase the appeal of your property.

It doesn’t have to cost the earth to refurbish a kitchen and have it looking almost brand new. A kitchen renovation doesn’t have to include all new cabinetry, there are plenty of other ways to spruce it up, sometimes just a quick update can work wonders. Get all the doors and cupboards painted (whatever you do, stick to neutral colours) and replace the handles and knobs for a simple new look. New taps are also a plus.

If your budget doesn’t stretch to a tiled floor, try vinyl flooring. Vinyl is cheap, easy to fit and easy to clean – as well as being water resistant. Needless to say, carpets are a no-no in a kitchen.

Finally, invest in a good extractor fan or cooker hood and advise your tenants to use it every time they cook, to wick away steam and condensation. As always, any gas appliances will need fitting by a Gas Safe registered engineer and will need an annual safety check.

For more essential advice for landlords, check out The Landlord Link blog.

If you’re looking to buy a rental property or sell one of the properties in your portfolio then join thousands of other landlords for free on The Landlord Link.

When selling or renting out your property you want the best price possible so it’s important to take the time to make sure it’s well presented for viewings.

If your property is already immaculate, then it may be as simple as a tidy up and clean, but for others it may require a few more changes to get the place ready for sale. Here are our tips to get you started…

1. Create a welcoming entrance

Your front door is the first thing potential buyers will see when they visit your property, so remember to make it inviting. Paint the door if needed, replace any damaged hardware, keep decorations minimal and declutter the entrance area.

2. The kitchen

Clear your workspaces of clutter, jars and food. Remove the washing up liquid bottles, all cleaning materials and tea towels. Clean everything off the worktops to help make the kitchen look more spacious. Don’t forget to tidy your cupboards as storage is something every buyer wants in a new home. Last but not least, clean all appliances including the oven.

3. The bathroom

Ensure the bathroom is tidy and spotlessly clean, everything must look immaculate. Don’t leave the toilet seat up, keep the lid closed… always! Remove the everyday shampoo bottles, medications, laundry bins and any spare loo rolls. Something as simple as adding luxurious towels can instantly transform a bathroom.

4. The bedrooms

Make sure all beds are neat and tidy, unmade beds make a room look messy and this can be distracting to buyers. Clear away any clothes and shoes. Make sure bedside tables are tidy and nothing is peeping out from under the bed. Clear off anything that is stored on wardrobe tops.

5. General areas

Clean your windows. De-clutter and get rid of any items that detract from the rooms… all clutter must go! Make sure your curtains and blinds are open. Hide away any wires that look unsightly. Tidy away any children’s toys and signs of pets.

Carpets should be shampooed and treated for stains. Any flooring that is stained, damaged or worn beyond repair should be removed and replaced. Hardwood floors that are scratched or have lost their sheen should be refinished.

6. Outside your home

Make the outside look appealing. Move your car from the drive or house front. Tidy up the garden, cut the grass, clean the patio and sweep away any leaves. Move wheelie bins and dustbins out of sight.

7. Remove personalised items

Remove all your personal items, let prospective buyers see a clear home as this will help them to imagine themselves living there. Even having too many pictures on the wall can clutter a space making the room feel smaller.

8. Too much furniture

Having too much furniture in a room will make it feel smaller than it is. If you are able to, rearrange or remove the furniture to help make the room look more spacious. Place the unwanted furniture in the garage or better still hire a storage unit.

9. Eliminate odours

Make sure your property smells as good as it looks! Smell can make either a positive or negative impact on a home. The house needs to be fresh and inviting, it’s very important to do your best to eliminate any odours from pets or cigarettes.

10. Finish projects & repairs

Now’s the time to complete any home improvement projects you have under way and make any necessary repairs to your property. Freshen up fixtures such as light fixtures, bathroom mirrors, taps, showers etc. All of these can be replaced for very little money and make a huge difference in terms of visual appeal.

11. Always be ready for viewings

Remember, your property needs to be ready for viewings at all times and often at short notice, so always make sure it’s presentable. Always have the relevant property information to hand so that you can confidently answer any queries buyers might have. Things like the cost of the Council Tax, utility charges, how old is the boiler, service charge payments and lease terms are often common questions.

For more landlord advice, check out the other posts on The Landlord Link blog. If you’re thinking of selling your rental property, you can sell for free on The Landlord Link – list your property today.

The Landlord Link has rental properties for sale all over the UK – take a look at our tenanted property for sale listings.

A good investment property is likely to deliver greater returns in the future; not just in the form of capital growth but also in the form of rental returns. In order to maximise investment return, here are some key points to consider:

1. Choosing the best time to invest in Buy To Let

There is no “ideal” time to buy; instead investors should make sure it is the “best” time for them personally. This means having your finances in order as well as a long-term investment strategy, so that you’re ready to move on any opportunities that may arise.

The property market moves in cycles. Property values may rise due to strong market growth and remain steady or even decline during certain phases of the cycle. Therefore, as an investor it’s important to know where the market is within the cycle to ensure you buy your property at the right price.

Always bear in mind that owning rental properties means that you have more liabilities, so you need to have enough cash to cover your costs. If you don’t have a large enough cash cushion, then you should probably wait until you do before buying rental property.

2. Setting your goals as a property investor

So what are you looking to achieve? What does success mean to you? Property investors generally invest in property to secure their financial future but in order for you to achieve your goals, you must first articulate what they are. Set a date as to when you want to achieve them and identify key milestones to help you reach your targets. Also, be sensible and start budgeting as it’s the only way to ensure you’re able to balance your income and expenses. This will allow you to see where you’re spending your money and help you to plan for bigger expenses further down the line.

3. Searching for a Buy To Let property

When searching for a sound investment property, you should aim to secure one which will be in continuous demand by tenants, as well as future home buyers. Therefore it’s important to carry out some research to discover the demographics of your area of choice and determine what’s important. For example, if the property is near a university then more bedrooms will be in greater demand rather than a big garden for children to run around. A family home that is close to schools and parks on a quiet street will be more desirable than a property on a busy road.

Location is integral to acquiring a good investment property. If you choose the location correctly, then the chance of gaining higher returns from your investment is far greater than if the location is not desirable. Close proximity to certain amenities increases the desirability and value of a property; these include: schools, public transport, public facilities like post offices, libraries, parks, medical centres, etc. as well as shops and lifestyle activities such as restaurants, bars, beaches, etc.

Read more: The Best UK Places for Buy To Let in 2020

4. Getting the best return on your property investment

Many property investors make the crucial mistake of choosing a property based on emotion, rather than finances and logic. A bad purchase may result in capital growth below the market average or rental income which does not come close to covering the monthly costs to maintain the property. It is therefore vital to carry out research to establish your strategy before making any purchase.

Make sure you check your finances, doing this will give you an idea of how much cash you have available to invest. Don’t immediately assume that you can’t afford to invest. As long as you have a stable and reasonably well paid job with solid employment history, you shouldn’t have a problem getting a loan. You can get pre-approval through your lender directly or through your trusted mortgage broker. Going through a broker before applying for a pre-approval can be beneficial if you’re not sure whether you’re financially ready to invest.

Once you know the mortgage rate and likely rent figures then you must be clinical in deciding whether your investment will work out. Also, don’t forget to factor in maintenance costs and think about what will happen if the property sits empty for a month or two? These are all things to consider. Make sure you know how much the mortgage repayments will be and if it is a tracker one then allow for rates to rise.

5. Stay focused

Above all, make sure you remain focused. Investing in property is a business decision, not an emotional reaction. It’s easy to get overwhelmed when you’re starting something new especially when it’s as big as property investing.

Always remember, it really does pay to look after your tenants. Do this and they will look after you. For many buy-to-let landlords the biggest drag on their investment returns is the void period, a time when you don’t have anyone in the property. Good tenants who want to stay help avoid this and if they move on they may even recommend your property to someone they know. Keep up with maintenance, make sure your property is a nice place to live and also build a good business relationship with your tenants.

Finally, don’t give up. Just imagine if you buy the right properties now, you could be sitting back in years to come, feeling happy and secure knowing your properties may have doubled in value! Now wouldn’t that feel good!

To get started on your property investment journey, take a look at the rental properties for sale by landlords on The Landlord Link – both tenanted and untenanted. And keep checking out our landlord advice blog for more hints and tips for new and experienced landlords.

Whether you’re looking for your next buy-to-let investment or even your first one, it’s likely that you’ve got lots of ideas about what type of property you should buy. Selecting whether to invest in an old or a new property can be difficult. Both have their distinct advantages, so there’s no ‘right or wrong’ answer to this. To help you decide, we’ve provided an overview highlighting the pros and cons of each.

Buying Old

Some tenants simply don’t like new homes, many feeling that they lack character and personality unlike older properties which have period features such as sash windows, high ceilings, opens fires and wooden beams.

A major advantage of buying an established property is that you can renovate and add value to the property which can boost your equity. In addition, historical data will be available, giving you an idea of how the property value has changed over time which can help you make an informed decision.

When you buy an older property, you have the ability to negotiate for a fair price. Vendors of established properties often have a motivation to sell relatively quickly so you can use this to your advantage to negotiate a bargain. Generally, a well-bought established property will outperform the averages over the long term and experience high capital appreciation which will benefit your cash flow in the future.

If you’re buying an established or period property, then ensure you check it thoroughly and get it surveyed by experts. The older the property is, the more likely you are to find problems with internal aspects such as wiring, and external aspects like the pointing or roof condition. Additionally, remember to look at the basics such as the age of the boiler. If a boiler appears to be getting towards the end of its life then replacing it could be a costly exercise.

An older property may require upgrades and repairs due to wear and tear over time. Not only could this eat into your profit if a major renovation needs to take place, this could also mean that you risk loss of rental income if tenants need to temporarily vacate. Although you should avoid anything that needs costly structural repair, something that’s a bit tired and could do with updating provides the perfect opportunity to create immediate capital growth.

Finally, the older a home is, the less energy efficient the property it’s likely to be. This can be a turn-off for some tenants especially when they see the energy performance certificate. If you do buy a property that doesn’t meet energy efficiency standards then you may have to pay a significant sum for upgrades to this.

Buying New

Not everybody finds old properties charming and as a rule of thumb the older the home, the more maintenance it will require. This means that new build homes are less likely to suffer from problems by virtue of the fact that everything is so new. Also, new homes give the landlord a certain level of reassurance as they usually come with a 10-year warranty which covers a wide range of defects. However, there is little opportunity to add value to the property once you’ve purchased it.

When you buy a new home, everything is already done for you; new floor and window coverings, modern kitchens and bathrooms and a fresh coat of paint. All that’s left to do is find tenants to move in. But the downside with new build homes can be teething problems. These are often basic issues but they can be tiresome if you have a new tenant, as it can lessen the likelihood of them staying for the long-term.

Typically new dwellings are perceived to be higher quality which means you may have greater tenant appeal. This is because tenants will be attracted to modern appliances and technologies. Newly built apartment blocks will more often than not feature a lift, widening their appeal to young families and people with limited mobility. They also tend to be situated close to local amenities, with good transport links which instantly tick the boxes for a wide range of potential tenants.

If you’re buying an off-plan purchase and you meet the developer, you may be able to negotiate on the price. Securing the property at a cheaper price could mean a larger return further down the line. Also, there’s often the option to select your preferred fixtures and fittings so you can customise the property to what you best feel would appeal to your prospective tenants.

One other point to remember, with buying off-plan, you can’t move tenants in right away, as building work needs to be carried out and completed. This means that, if you’re investing in off-plan property, you have to be willing to wait before bringing in initial returns on your investment.

New apartments and houses are often the first to see prices soften when the overall market loses momentum; meanwhile, established homes will either maintain their value or experience a very minimal adjustment.

Final Thought…

Most importantly, check what lets well in the area that you’re looking to buy, and constantly keep in mind the amount you’re thinking of charging. This way, you can work out your rental yield and ensure you’re maximising your investment potential.

As a landlord, always remember that the more someone feels at home in your property, the more likely they are to stay for the long term. If you can keep your tenant for a number of years then you’ll reduce the risk of void periods, in turn boosting your return on investment… whether you choose to buy old or new!

See properties for sale on The Landlord Link.

Before 2020, every household in England, Scotland and Wales will be offered the chance to upgrade to a smart gas and electricity meter. These meters are set to revolutionise the way that utility readings are displayed and analysed across the UK. The Landlord Link has done the hard work for you and looked at the benefits of this new technology for all homeowners.

1 Accurate Meter Readings

Smart meters will show you exactly what energy you’re using, in pounds and pence, in near real time. Via a wireless connection, this information will be fed to the in-home display on a frequent basis, meaning that there is no more waiting for weeks and months to find out how effective your energy-saving efforts really are.

2 Save Money!

This constant access to usage data makes it easy for you at home to pinpoint exactly where your energy wastage is causing problems and costing money. You will easily be able to distinguish which times and days are the most costly and see precisely how much that extra couple of degrees on the central heating system is setting you back.

3 Say Goodbye to Estimated Bills

With the estimated billing system, which many energy suppliers employ, you can never truly be sure whether you’re overpaying for your usage. With smart meters, this method will become redundant as accurate, timely bills make your budget-management a whole lot easier.

4 Free Installation

That’s right, it will cost you absolutely nothing to have a new smart meter installed in your home. You also won’t incur an extra charge on your bill for choosing to have a smart meter; the cost will be spread across everyone’s bills, just as the cost of running and maintaining traditional meters is.

5 No More Meter Reading Visits

The usage data captured by the smart meter will be sent directly to your energy provider, removing the need for physical meter reading visits. You are required to be present for the original installation of your new meter but from that point onwards, the information is there for you to see. You can also have your in-home display situated almost anywhere in your home.

We expect smart meters to become commonplace over the next couple of years and the benefits of their accuracy will filter down to homeowners of all descriptions. For more detailed information on smart meters, or to find out how to get yours, visit www.smartenergyGB.org/get-yours

The words “student halls” have connotations – box rooms, single beds, showers shared between far too many and truly terrible decor. Student accommodation used to resemble something between a good prison or a poor hostel. Now, however, a new day has dawned for student housing and the accommodation of old simply won’t do.

Whether students are looking for self-contained, purpose-built accommodation or a student HMO to share with friends, their expectations are much higher than they used to be.

So now we know what they don’t want, let’s take a look at what today’s students expect.

Fast, reliable Wi-Fi

Fast, reliable Wi-Fi is one of the most important factors to students when choosing accommodation. Students today need to know that their connection won’t drop out with a deadline looming and when the work is done they want to be able to stream music, watch films and play games without the frustration of a lousy internet connection interrupting the fun. Keep your tenants connected and you’ll keep them happy.

A double bed

Single beds are no longer an accepted part of student living. A student’s bedroom serves as more than just a place to get to rest; it’s a second living area, a place to hang out with friends and a place to study too. Because of this, modern students need a double bed, and, as a landlord, you need to provide one.

Quality furniture

Modern students expect good quality, stylish furniture that maximises space and allows them to get the most out of their student digs. Furnish your property wisely and you won’t have a problem finding good tenants.

All bills included in the rent

If you want to rent your property to students, don’t make things harder than they need to be.

Students have a lot going on already, and, in most cases, are only new to living away from parents. Being able to know exactly how much you owe each month with no nasty surprises is attractive to modern students. This also makes house sharing much more convenient as your tenants don’t have to arrange splitting the bills. Keep all bills included in the rent and ensure your property is attractive to students.

Bathrooms – and ideally en-suite

Gone are the days of overshared dingy bathrooms. Modern students expect, at the very least, well-kitted out private bathrooms shared between each flat and it’s not uncommon for students to even have their own en-suite.

Good quality kitchen

By and large, catered student accommodation is a thing of the past. Students these days want the freedom of deciding their own meal times and the space to experiment and develop their cooking skills. A good quality kitchen will make your property attractive to students.

If you can provide a dishwasher, that’s another reason for students to choose your property over others, particularly in areas where supply outstrips demand like Liverpool.

Location

Location is always a high priority for students. They want easy access to uni, the city centre and a good night life. Student accommodation that boasts great transport links will always be hot property.

Security

Student properties are consistently targeted by thieves, due to their high concentration of laptops, phones, cameras and games consoles. For this reason strong security is a must when it comes to student accommodation. Deter thieves, attract tenants; prioritise security.

Communal areas

The standard of the communal areas on offer in student accommodation has skyrocketed. It used to be that a barely furnished room tacked on to the kitchen could pass as a communal area. These days are no more; at the least student’s expect good quality, comfortable seating.

At the higher end of the spectrum students expect luxuries such as games rooms, mini cinemas and gaming suites.

If you would like to speak to student furniture experts about how to furnish your student property get in touch with Student Furniture today.

Here at The Landlord Link we specialise in providing advice for landlords and helping landlords sell their rental properties landlord to landlord.

Search for rental properties for sale today.

Boiler maintenance may not be top of most landlords’ list of priorities but considering the potential costs and consequences if something does go wrong, perhaps it should be.

Major repairs or a full breakdown can be a nightmare for any property owner so The Landlord Link has broken down how to stay on top of your boiler upkeep and why it’s so important.

Landlords and boilers – the law

You are required, as a landlord, to arrange annual gas safety checks in your property in accordance with The Gas Safety (Installation and Use) Regulations 1998. This will ensure that you comply with gas safety laws but also that any warranty on the system remains valid.

This annual service must be carried out by a Gas Safe registered engineer; a DIY approach to boiler care is not the way to go!

Ongoing maintenance of your boiler

Whilst it is true that a service or repair should be carried out by a competent professional, there are several smaller measures that you can take throughout the year to prevent the worst happening when winter hits.

Read our guide to winter maintenance checks for your buy-to-let property >

If you find that radiators are heating unevenly, they probably need bleeding. Doing this – or encouraging your tenants to do so – will lead to a healthier boiler.

Insulating your pipes will prevent them from freezing in colder weather. Alternatively, you can set the heating to run at a low temperature whilst the property is empty. It’s simply a case of working out the most cost-effective option for you.

Leaving the heating turned off all summer can cause parts within the system to seize up. Run the heat for a few minutes each month to keep things functioning smoothly.

What to do if your rental property’s boiler breaks down

If the worst case scenario does present itself and your buy-to-let property’s boiler stops working altogether, what do you do next? Firstly, you can try re-setting the boiler or taking some of the measures explained above to see if this gives it a needed kick-start. If this fails to work, you’re going to need a Gas Safe registered engineer to carry out repairs.

The average cost of a boiler repair is somewhere around the £300 mark but a full replacement is going to cost you anything between £1000 – £3500. As the landlord, it is most likely going to be your responsibility to stump up the cash.

So, if boiler care isn’t something you’ve considered recently, perhaps it is an issue you should think about addressing before it’s too late – it could save you in more ways than one.

Here at The Landlord Link we specialise in providing helpful advice to landlords. Check out our blog for the latest news and articles on managing your portfolio, achieving better yields and where to invest.

Did you know that you can buy and sell rental properties for free on The Landlord Link? Take a look at rental properties for sale across the UK and list your property.

Here at The Landlord Link, we know only too well that being a landlord can often be stressful whether you’re maintaining a single investment property or growing a large portfolio. We also understand that insurance is one of the most important ways in which you can protect your property. It’s absolutely vital you have the right cover and that’s why we want to tell you more about iInsure365 and the invaluable service they provide to landlords.

iInsure365 has provided insurance based services since 1997, specialising solely in residential and commercial buildings insurance for landlords. They pride themselves on their reliable customer service and knowing that you require the best protection available, they’ll offer you exactly the right policy, so you only pay for what you need.

As an added benefit iInsure365 have teamed up with Aviva, one of the UK’s leading insurance companies, to offer an exclusive ‘must have’ product which incorporates everything a landlord requires. Alternatively, there are markets and providers who work with them on a target premium basis, which can offer you the best of both worlds. The process has been made as easy as possible to save you time without compromising on service or cover. A fully comprehensive policy will be provided to ensure you have everything you need as a landlord.

One other important point, their offices are UK based and they don’t have call centres, which means you’ll be dealing with the same person on a regular basis… a personal service which is much appreciated in an age of endless robotic voices on the end of a phone!

So landlords, if you’re looking for that extra personal service plus peace of mind, we strongly recommend that you talk to the experienced team at iInsure365 when choosing your insurance.

For more information about iInsure365 and the competitive insurance they offer, please visit : http://iinsure365.co.uk/

Following on from the overwhelming success of The Landlord Link, our free online market place for landlord-to-landlord property sales, we are pleased to present our recently-launched sister site – Landlord Link Lettings.

This brand new service provides a simple and hassle-free rental process, for both tenants and landlords. In-keeping with the values of The Landlord Link, this online lettings service is brought to you completely free of charge.

Allowing landlords to find tenants quickly and at no cost to themselves, we expect Landlord Link Lettings to clean up the entire letting process. You can upload property details and images to your personalised account, whilst prospective tenants can contact you via email to tie up letting agreements with no void periods for yourself.

Removing all hidden fees, we really believe that Landlord Link Lettings is a premium free service; you can’t get better value for money than this!

Lettings agents are a major expense in the process of property rental and, more often than not, there are add-ons for tenants and landlords which are only discovered further down the line. Landlord Link Lettings bypasses all of that and allows you to communicate conveniently and freely with prospective tenants or landlords.

Having been in both positions ourselves, we understand the struggles associated with letting properties and our aim has always been to create a simple platform for landlords and tenants to fulfil their rental needs. We hope you’ll agree that with the introduction of Landlord Link Lettings, that is exactly what we have achieved.

Visit the site to see what all the fuss is about if you haven’t already: www.thelandlordlinklettings.co.uk

Landlords have been heard saying that yield and capital gains are less important than remaining cash-flow neutral – that is, where a tenant pays the mortgage and, at the end of the mortgage period, the investor owns the property for what is essentially the cost of the deposit.

One place, however, where rental income still remains an attractive proposition in its own right is Glasgow, where properties are much more affordable than elsewhere and rental ratios are keeping their heads up.

This is in marked contrast to other UK areas – particularly already overheated markets such as London and the South East – where rental income on low-yielding properties is likely to be lower relative to investors’ mortgage costs.

The recent quarterly rental report by Citylets found that rents in Scotland as a whole had increased 2.1% in the first quarter of 2016 compared to the previous 12 months. In the Glasgow metropolitan area, the increase was higher at 4.6% in the year, with one-bedroom properties rising even faster at 8.8%.

Read our guide to the best areas for buy-to-let in Glasgow >

In real money, that makes the average monthly rent for a one-bedroom property now £546, with a two-bedroom property on average renting out for £721 and three-bedroom going on average for £991 a month.

There is evidence that almost every flat which becomes available for rent in Glasgow is attracting between eight to ten individual applicants, and agents are having to turn away potential quality tenants.

Some agents are even reporting that landlords in Edinburgh – itself a hotspot – are being attracted to Glasgow because it offers better value. Yes, rents are lower, but so are prices, so returns remain beguiling.

Our view at Douglas Dickson is that there continues to be a real shortage of supply of good quality, well managed rental properties in the Glasgow area and a high tenant demand.

Douglas Dickson is achieving rent increases for its landlords and renting most properties back-to-back without any void periods. This is good news for landlords and for those who are considering becoming landlords in Glasgow.

Neil Livingstone is a director of Douglas Dickson Property Management Limited.