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Welcome to the very first article of The East London Property Blog. I’ve toyed with a few different ideas for the first article and none seemed right for the launch, and then came the Idea to write about how the East London property market has been coping over the last few years, the dreaded covid years. So here I am writing this article on the night of new years eve which requires several hours of research, hoping to post on the first day of the year. Well done Abul, could’ve thought of that earlier.

The sales market

Anyway, now that I’ve stopped babbling, let’s take a look at the sales market in East London. I need to throw out a few disclaimers first; for my examples I’ve chosen to use E postcodes only even though LBBD, Havering and Redbridge (IG and RM) are considered East London, However I didn’t have the time to extract all the data for it but I will be making reference to it from my personal experiences. The house price data has come from the Land registry website. Second Disclaimer is that I downloaded the data on the 31st of December 2021, therefore the data for 2021 will likely not be fully accurate as it usually takes a few months to update, however the averages will be a good indicator for this article. In this article I will be discussing the sales and rental market and will be analysing the overall prices, averages and number of transactions.

So let’s now take a look at some stats:

As you can see, From 2019 (which was pre covid), to 2021, the total value of property sold has almost halved. However if you look at the Average Prices tabel, you will see that the average price of property has actually increased slightly every year while the number of transactions have gone down steadily. 

So let’s explore some of the reasons for our findings. Firstly regarding the total values, in March 2020 we saw almost all industries come to a halt, briefly. This did affect the property market massively, which is one of the reasons we saw the stamp duty holidays brought in by the chancellor Rishi Sunak. This got the market moving but of course it would have been very hard to match 2019, imagine what would have happened without this great incentive to buy property, I bet you’d rather not.

Secondly, although the average prices have risen the number of transactions have fallen. Traditionally this happens when prices rise. After lockdown, many people wanted to move, for a change of scenery, and for many it was a move from a flat to a house. This meant many people were moving out of the E1, E2, E3, E14, postcodes. Not having to work from the office meant many people did not have to be that close to work, which led to people moving further away from central London. This of course meant most areas with houses went up in value and inner city London areas like Tower Hamlets and Hackney have actually seen a dip in prices. As you can see from the individual postcode table you will see that most of the postcodes show that the average price actually went up with the exception of a few. Some went up in 2020 and then went down in 2021. This can happen when there is an influx of new builds in an area, like E16, where there is massive amounts of new construction happening on the coast of the Thames like the Royal Wharf development. These properties are priced much higher than the average property in the postcode before which may have pushed the average high in 2020, but then in 2021 the average went further down than 2019 even though the number of transactions were almost double. I anticipate this going up again soon as there is still a lot of new construction taking place in the area.

Now if we spend a little time looking at the table with the total number of transactions with individual postcodes you will see that overall most went down progressively after covid hit. With some postcodes like E20 having as little as only 15 sales after having 867 the previous year. Mind you, E20 is a brand new postcode only existing since 2011 just before the olympics, residing in stratford where there are only new build properties, therefore it is likely that we will see another spike soon, as there are still new buildings popping up in E20.

However, the majority of the other postcodes saw a big drop, apart from E7 which saw a slight increase and E16. The interesting thing about E16 is that the number of transactions almost doubled in 2021 as I mentioned earlier, while we saw the average price go more than half. Like I said, when prices increase you will see transactions slow down and when prices go down the transactions go up.

This is why I believe people will and should be investing in E1, we’ve seen a massive drop in average price but also a massive drop in transactions. When in fact people should be actually investing in E1 right now. The prices are low and I don’t expect them to go much lower. It’s one of the cheapest inner city areas to buy in right now. Although the average price is 844k, in fact you can buy 1 beds for as low as 285k, 2 beds for as low as 320k and 3 beds for around £380-400k. The rents of which are around £1300, £1800 and £2400 pcm respectively. All these properties would have been around £50k higher in recent years like 2016, and I believe soon they will hit those numbers again.

Rental 

It was harder to find stone cold stats for rental but my personal experience working in an East London Sales and Lettings agency was that in 2020, soon after the lockdown we saw a massive drop in rents. The media says up to 20% drop, in some parts we saw up to 30% and that is partly due to Central London flatlining briefly and also where some properties were actually overlet. Also due to the initial shock factor of the covid, we saw many international tenants from different parts of Europe fleeing the country, leaving their deposits and wanting to be near their loved ones. This of course created a massive vacuum in the rental market. Since then we have seen a bit of a rollercoaster ride where the market has been going up and down and after the summer of 2021 I believe we have almost come back to normal.  

We’ve seen many renters move to more rural areas like Barking, Seven Kings, Gants Hill and so on, and in areas like this, the change in rent was almost unaffected over the last few years, in fact some places it went up. 

Whats coming in 2022

So, what’s to come in the next few years? As you may know the Bank of England base rate has gone up from 0.1% to 0.25% after a very long time. This is reflective of inflation, which is probably up much more than 0.25%. With inflation we will definitely see the prices of property go up again, some experts say up to 10% market wide. If you are looking to buy property in a London area, I would advise buying in E1. In later articles and blogs, I will share individual property adverts that I think are great investments in East London.

Well that’s where I’ll wrap up my first blog/article. If there’s any topics you would like me to write about please do reach out to me and I hope you enjoyed this one.

On the 12th of November 2021, we were invited to the first ever awards ceremony held by @all_agents_uk . All Agents are the largest Estate and Lettings agent review site in the UK. This is why we were delighted to receive 4 Gold awards and the National Award for Best Lettings Agency in the UK. This is our third consecutive year to win Best in Lettings and Sales in E1 and London, but to win the Best Lettings in the UK was a wonderful surprise. We would like to thank all our lovely landlords, tenants, buyers, vendors, and suppliers for their support in helping us achieve this and we will of course continue in our endeavors to always deliver the best service we can.

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Ride 4 Your Mosque initiative encourages the community to take up cycling for a healthier lifestyle as well as support our fundraising for the mosque. This year’s fun-filled and scenic ride will be from Cambridge to East London Mosque. This is suitable for beginners as well as experienced riders.

Our director Hassan is taking part in in this years event & we kindly ask for your support  by donating in order to make the mosque debt free and self-sufficient.

Please donate generously via the link below.

https://www.eastlondonmosque.org.uk/fundraisers/mhassans-ride4elm

Shared accommodation is no longer something only students endure for a few years. You may be sharing a house or flat with other professionals, friends or a partner. Follow these tips to keep your house share amicable.

1. Keep the property tidy

Cleanliness is subjective and we all have different ideas of what ‘clean’ means. It’s best to share with housemates that have similar standards to you. If this isn’t possible, try to compromise. You should set a few ground rules in the house or flat at the start of your tenancy agreement, such as keeping communal areas (kitchen, living room, bathroom, etc.) clean and tidy.

Everyone must agree to clear up after themselves, particularly in the kitchen, and dirty pots should never be left to fester. Try creating a cleaning rota to ensure everyone does their fair share of the housework, or agree to split the cost of a weekly or fortnightly cleaner.

2. Get your house bills and utilities in order

When you move in, agree with your housemates on how bills will be paid and split between everyone, as this is a common cause of arguments. Set up bank transfers to cover the monthly outgoings that are your responsibility, and keep a record of what’s been agreed with everyone when it comes to making payments.

Alternatively, download an app that allows you all to access and track expenses by logging in from your phone.

3. Keep your room secure

Keep your belongings in your room and be clever with storage, so that your personal items don’t spill into the communal spaces.

Security can be an issue in a house share, with people coming in and out of your home that you don’t know, so it’s worth having some lockable storage in your room for high-value items.

Be vigilant and, as a house, agree to always lock your doors and windows to prevent break-ins. If you’ve got a house alarm, use it!

4. Share the essentials

It’s a good idea to band together with your housemates and put money towards kitchen basics such as pots and pans, condiments, spices, and dairy products to save you all over-buying.

Each month, you can agree on what needs to be replaced and all put money in a pot to make sure that those essentials are restored going forward.

Property selling is not something most of us do every day, so choosing an estate agency to handle the sale might seem a little daunting.

Contrary to what you may think, not all agencies are the same and some will be more effective than others.

This guide will help you find a professional and pro-active agency that will sell your property for the best possible price.

How to Choose an Estate Agent

1. Traditional or online estate agency?

You first choice is the type of estate agency to use.

A traditional full-service estate agency will have an office that you can visit and will normally take care of every stage of the selling process in return for a fee when the sale goes through. They usually work on a no-sale, no-fee basis, so if the property doesn’t sell you shouldn’t be out of pocket.

Online agencies generally don’t have offices you can visit and usually charge an up-front fee to put a property on the market. There can be further charges if a sale takes place and you may need to deal with a lot of the selling process yourself.

As the overwhelming majority of sellers use traditional estate agencies this is what we look at in this guide.

2. To start with – make a shortlist of estate agents

Create a list of about six agents you would consider using. Ask friends and neighbours if they can recommend some. You will probably have seen agents’ For Sale boards, advertisements in the papers and promotional leaflets through your letterbox. Which ones catch your eye?

Take a stroll down your local high street and have a look in the agents’ windows. Which ones are smart and appealing? All estate agents must belong to an Ombudsman scheme for dealing with unresolved complaints. Some belong to an industry body such as the NAEA Propertymark (formally the National Association of Estate Agents) or RICS (Royal Institution of Chartered Surveyors).

All good agents should be operating to codes of conduct that will ensure you are dealt with professionally.

3. Narrow down the choices – take a closer look

Now find out more about the firms on your list. Look at their websites. There may be information about the company, staff, range of services and perhaps some comments from customers. Look at the properties they are listing for sale. Are they similar to yours and presented with good quality photographs, floor plans and clear information? Would you be happy to see your property on there?

Check that the agent advertises properties on at least one major property portal. You should now be able to narrow down your list to two or three agents that can be asked out to your property to give their opinion of its market value and to explain how they would go about selling it at this price to a reliable buyer.

4. Find out if they are the estate agents for you – go and see them

It’s tempting to email or call these agents right away but you’ll get a much better sense of who they are and what they are like if you visit their offices to make the appointments. You are about to ask them to deal with what is probably your most valuable asset so you want to know they are people you are likely to trust and get on with. When you go in, how do they respond to you? Do you feel welcome? Are they helpful? Is it a professional and friendly environment? If you feel comfortable, make the appointment. If not, it’s best to walk away.

5. The valuation of your property – what to watch for

When the agent arrives pay attention to their punctuality, politeness, professionalism and knowledge. They will tell you what they think the asking price should be and how much the property may actually sell for. If all the agents suggest similar amounts, you can be reasonably sure they are accurate but don’t be surprised if one comes up with a very different figure. They might know something the others don’t! Always ask them to justify their opinions of the value of your property by showing you examples of similar ones that are on the market and those that have sold.

6. Help the agent to help you – tell them what you need

A good agent will want to have an understanding of your circumstances and needs. Perhaps you must sell by a certain date because of a job move or there’s a baby on the way and you need to get a bigger home. Help them to help you. Be honest about your circumstances and why you are selling. Everyone has particular requirements and a good agent will tailor their services to deal with them.

7. Assess the agent – ask them lots of questions

From your fact-finding at the beginning you’ll already have some idea of how these agents showcase properties for sale but you want to know what they are going to do for you individually and how they will go about marketing your property. Ask if they have “hot” prospective buyers already on their books. Find out if they will accompany the people who come to view.

Ask how often they will keep in touch to let you know how things are going. And find out what they do once a sale is agreed as a good agent will be able to tell you about what is called “sales progression” which is really important to making sure the sale goes through.

8. The estate agent’s fees – what you can expect

The agent will charge a fee to sell your property. Fees are usually a percentage of the selling price. There may be additional costs for things like advertising or photography and there might be a fee if you withdraw the property from sale. A good agent will explain all this in detail and there should be no hidden costs.

The actual amount you pay will depend on what services the agent is providing and whether they are appointed as your “sole agent” or one of several. Make a value judgment based on what services the agent provides and don’t assume that cheapest is best. It seldom is.

9. Choosing the agent – it’s time to decide

You’ve now met the agents, had their opinions about price, found out what they will do for you and know what they will charge. There’s also the fact that “people buy people” and you’ll almost certainly like some individuals better than others. It’s time to make your choice based on all you have seen and heard.

You can appoint just the one agency, or several. In practice, it is often best to use just one as your “sole agent”. You’ll pay a lower fee and, because the agent knows they have a reasonable chance of selling the property, they will concentrate their efforts on it. The sole agency arrangement will last for an agreed period of time.

10. You and your agent – working as a team

Now that you have chosen which agent or agents to instruct, call them up and give them the good news. They will then start the process of putting your property on the market. Our final tip is about what happens from now on. Think of you and the agent as being on the same team.

You are working in partnership to find a buyer who will pay the best price for the property within a time-frame that suits you. You’ll be more likely to succeed in doing that if you work closely together and we look at how that happens in another of our top tip guides, “Working with your agent”.

All your frequently asked questions about renting a house or flat answered, including information about rent guarantors, referencing and deposits.

I need to find a place to rent. What do i do first?

Before you start searching for your new home it’s a good idea to write down a budget. What are your current outgoings and what money do you have left each month to spend on rent? Take into account that, when you first move in, you will need to front a security deposit as well as the first month’s rent and a refundable holding deposit.

I’ve found a place i want to rent. Now what?

If you haven’t already, make sure you go and view the property. If it’s a house-share, meet all the people you’ll be moving in with. The letting agent will ask you to sign a Tenancy Fee Declaration form which lists the services they will provide and the Permitted Payments expected from you, in line with the Tenant Fees Act 2019. The agent will then begin the referencing process to ensure you’re in a position to rent the property.

Why do i need to be referenced?

The landlord needs to be sure that that their tenant won’t have any problems paying the rent on a monthly basis and that the tenant will take good care of their property.

What does referencing involve?

Referencing is nothing to worry about. Tenants applying to rent need to give details of their employer and income, their previous address, and some bank account details. These will be checked to ensure they are able to commit to monthly rental payments.

Do i need to show ID?

As part of the referencing process we need to be sure a tenant is who they say they are. We will require a proof of residency (such as a utility or council tax bill from the last 3 months) and proof of ID (such as a passport or driving licence).

What if there are problems with my reference?

In some circumstances, a tenant may not be approved immediately via referencing. Obvious examples are students without a regular income, or someone leaving their family home for the first time with no renting history. This is not uncommon, and there are still options for tenants in this position. They could pay the rent for the full term up front, or seek out a guarantor.

What is a guarantor?

If a tenant is not fully approved by the referencing process, they can ask a guarantor to support them. A guarantor (usually a parent or guardian) will agree to take joint responsibility for the rent for the property if the tenant fails to. Guarantors are required to pay any rent arrears (if the tenant does not pay) and for any damages costing more than the deposit.

What does a guarantor need to do?

A guarantor needs to go through the same referencing process as a tenant. The normal requirement is that they are employed and a UK resident, with sufficient earnings to cover the tenant’s rental commitment.

Why does my guarantor have to guarantee all tenants?

In the case of a house-share, the tenancy agreement makes all tenants jointly responsible for all rents and responsibilities. There is no individual ‘share’ of the rent written into the agreement. The guarantor therefore has the same responsibility.

Why do i have to pay a deposit?

The landlord trusts the tenant to keep the property in a good condition and in good order. The deposit is held to ensure that any damages (over and above fair wear and tear) can be corrected at the end of the tenancy.

What will happen to my deposit?

Landlords and letting agents are required to register your deposit with an approved Tenancy Deposit Scheme. Your Move landlords register their deposits with a scheme such as My Deposits. The deposit is then either held by the landlord, the agent or the deposit scheme itself. You should receive details of the scheme, explaining where the deposit is held.

What does a Tenancy Deposit Scheme do?

A Tenancy Deposit Scheme like My Deposits will protect the money for you and can offer assistance should there be a dispute about the deposit at the end of the tenancy.

What is a tenancy agreement?

A tenancy agreement is a contract signed by both the tenant and the landlord. It outlines all the rules to which both parties must comply.

What is a routine visit?

Your landlord or letting agent will regularly schedule visits to the property. They want to make sure that the property is being looked after and maintained in a good condition, and they’ll be looking for any maintenance issues.

Who is responsible for repairs?

The landlord is responsible for maintaining the property in a good state of repair. They will either take care of this directly, or do so via a letting agent – make sure you know who to go to when there’s a fault at the beginning of the tenancy. Check your ‘Welcome letter’ to find out what service level your landlord has. If it is Tenant Find or Rent Collect, then you will need to talk to your landlord directly. It it is Fully Managed then the agent will help. If you do damage to the property you are expected to cover the cost of putting this right.

Can i decorate or make changes to the property?

In most cases, a tenant can only decorate or make changes to the property with the express permission of the landlord. We recommend receiving this permission in writing.

What if i accidentally cause damage to the property?

Don’t worry – accidents happen. Tell whoever is responsible for the property maintenance (either the landlord or letting agent) as soon as possible. You will be expected to cover the cost of putting it right. Don’t try to ignore or hide damage because it could get worse, and it will only come out of your deposit at the end of the tenancy.

What if the landlord isn’t keeping to their side of the agreement?

If a tenant believes the landlord is not keeping to their side of the agreement – for instance, not maintaining the property in a fit state of repair – then the first thing the tenant should do is speak to their letting agent. The letting agent has a duty of care to the tenant, and may be able to help to resolve issues depending on the service type the landlord has with the agent. Look at your ‘Welcome letter’ to find out the service level of your landlord. Alternatively, a tenant can find independent advice from The Citizens Advice Bureau.

When can my landlord enter the property?

A landlord has to give the tenant notice before entering the property, unless it’s an emergency.

What if i want to end the tenancy?

If you are tied into a fixed term contract, you will be liable for the rent until the fixed term is finished. If you are no longer in a fixed term contract (ie. a rolling contract) your tenancy agreement will define the notice you need to give.

What if i can’t pay my rent?

It is always your responsibility to pay the rent, but circumstances change. What happens if you become unemployed or are unable to work due to sickness? The most important thing is not to let arrears pile up until they’re unmanageable. Speak to your landlord or letting agent and see if you can reschedule your payments. And don’t forget, you can get insured against sickness and unemployment to keep yourself protected.

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If you’re thinking about renting a property, you may find the process a little overwhelming; lengthy contracts, difficult to read paperwork, not to mention the confusing language – what does it all mean? We have put together a list of common terms that will help you beat the jargon.

Tenant: That’s you!

Landlord: The owner of the property that is being rented out.

Tenancy agreement: A tenancy agreement is a contract between a landlord and a tenant that sets out the legal terms and conditions of a tenancy. A tenancy can either be periodic (running on a week-by-week or month-by-month basis) or for a fixed term (running for a set period).

Assured Shorthold Tenancy (AST): Assured Shorthold Tenancy is the most commonly used tenancy agreement and is usually for a fixed period of six to twelve months. This agreement sets out you and your landlords rights and responsibilities during your tenancy.

When an Assured Shorthold Tenancy ends, provided the tenant remains in the property, it will continue as a periodic tenancy unless the tenant signs a renewal agreement.

Renewal: At the end of the fixed term tenancy, tenants and landlords can choose to renew the tenancy for another fixed term, although it is not essential. It does, however, provide long term security for both the landlord and tenant. Landlords may ask a tenant to sign a renewal if they want to change the terms of the tenancy agreement, which could include raising the cost of rent.

Break Clause: A provision that is built into a tenancy agreement which enables either the landlord or the tenant, or both, to end the tenancy early.

Absent landlord: When a landlord is described as “absent”, it means they cannot be contacted directly. In this case, the managing or letting agent would be the first point of contact.

Credit Search References: Before signing a tenancy agreement, you will be referenced by your letting agent or landlord. Many agents and individual landlords use external companies who will undertake a credit and affordability check along with employee and landlord references to confirm your employment details and salary.

PW: This means per week. This refers to the frequency of rental payment.

PCM: This means per calendar month. This refers to a rental occurrence.

Guarantor: Someone who agrees to sign the tenancy agreement, effectively guaranteeing that they will undertake the full obligations of the contract on your behalf if you default on your obligations under the agreement. If for some reason you cannot pay the rent, the guarantor will be responsible for making the payments.

Deposit/Security deposit: Landlords will ask new tenants to pay a tenancy deposit to cover any future damage to the property or unpaid rent. The deposit can be equal to up to five weeks rent in England, landlords in Wales, Scotland and Northern Ireland may charge more.

Holding deposit: A refundable sum of money paid to the landlord, or letting agent, to reserve a rental property before signing the tenancy agreement. If you decide to withdraw your application for the tenancy, this is normally non-refundable. If the tenancy goes ahead, the amount of the holding deposit is usually deducted from the first month’s rent.

Inventory and Schedule of Condition: This is a checklist of the current contents and condition of a property which is undertaken to ensure that the property is left in the same condition in which it was originally let. It can cover cleanliness and the state and age of fixtures and fittings such as plug sockets, furniture, windows etc.

At the start of the tenancy, there should be an inventory to “check in” and then again at the end of the tenancy to “check out”. Agents and landlords may use an ARLA Inventories member to carry out the inventory.

Client Money Protection (CMP): A scheme that protects money paid by a tenant to their letting agent or landlord. It is important to note that CMP is a legal requirement and all agents and landlords must be covered. By using an ARLA Propertymark Protected member, you can guarantee that your money will be safe.

Tenancy Deposit Protection (TDP): Your landlord must register your deposit with one of the three Government-authorised schemes (Deposit Protection Service, MyDeposits or Tenancy Deposit Scheme) within 30 days (14 days in Northern Ireland) of you paying it. They must also give you the details of which scheme is used, your Tenancy Deposit Protection Certificate and additional information (known as Prescribed Information) which explains how to get the money back at the end of your tenancy and what to do if you and your landlord or agent disagree on the amount to be returned.

Redress: If you have a dispute with your landlord, the case can be referred to a neutral expert to resolve – this is known as redress. All letting agents are required to sign up to a property redress scheme, so make sure to note down which scheme your agent is registered with. ARLA Propertymark Licensed members in England and Wales will belong to either The Property Ombudsman, Ombudsman Services Property or the Property Redress Scheme. ARLA Propertymark Licensed members in Scotland fall under the remit of the First-tier Tribunal for Scotland (Housing and Property Chamber).

Sublet: Subletting is where a tenant lets part or all of their rental property to someone else. You must get permission from your landlord before subletting a property, otherwise, you could be in breach of your rental agreement and your landlord can take legal action against you.

House in Multiple Occupation (HMO): HMOs are properties which house tenants from two or more households with shared facilities such as the kitchen or bathroom. Large HMOs (more than 2 floors and more than 4 people) need to be licenced.

Common parts: Any part of the property, land or premises which are part of a shared facility (for example, a shared entrance or garden).

Managing Agent: An agent or company who is responsible, under an agency agreement, for the maintenance and management of the property. Not all properties are professionally managed so your landlord may be responsible for the maintenance of the property.

Fixtures and fittings: Items that are usually included in a rental property such as curtains, carpets, blinds, light fittings, kitchen units and appliances. In some cases, it may also include furniture. It is advisable to check what is provided prior to signing the letting agreement.

Dilapidation: Damage to a property or contents that is considered to go beyond acceptable wear and tear.

Notice period: The period of time that a tenant or landlord must give to end the tenancy agreement.

Arrears: Unpaid rent that is overdue or outstanding.

You’ve found your dream home, but how much should you pay for it? Deciding what offer to make on a property can be tricky.

If you pitch your offer too low, you may miss out on the property. But if you make it too high, you could be left wondering if you got the best deal possible.

We look at the different factors to weigh up when calculating your offer.

1. How long has the property been on the market?

Finding out how long a home has been on the market is a key factor to bear in mind when calculating your offer.

If a property has only just been put up for sale, the owners will be unlikely to accept an offer significantly below their asking price.

By contrast, if it was first listed several months ago but has still not sold, it may have been priced too high. The owners may be more likely to consider accepting an offer under the asking price as a result.

2. How much interest has there been in it?

Gauging how much interest there has been from potential buyers is another good way of assessing how open sellers will be to an offer.

Sellers are more likely to hold out for the full asking price if there have been a lot of viewings, rather than if it has been sparsely viewed.

While you can ask the sellers or their estate agent how much interest there has been, it’s good to do your own homework to double check.

Look at the number of views the property has received on our website. The listing page will include the number of views since it was first listed and in the last 30 days, giving you a sense of whether interest has tailed off or if other buyers keep looking at it.

3. What’s going on in the housing market?

Housing markets are typically either buyers’ markets or sellers’ markets.

A buyers’ market is characterised by supply exceeding demand, meaning those purchasing a property generally have the upper hand. In such cases, you are more likely to have a low offer accepted.

By contrast, in a sellers’ market, there are more buyers than there are properties available, increasing competition for homes.

If the market is very hot, sellers may receive several offers for their property and they are unlikely to accept one that is significantly below their asking price.

With a few months left until the Chancellor’s stamp duty holiday ends in March 2021, you may want to place an offer that the seller will readily accept so that you can kickstart the conveyancing process.

4. What’s going on locally?

It is also important to pay attention to what is happening to house prices in the area you wish to buy.

If property values are currently enjoying strong increases, sellers are likely to be happy to sit tight if they don’t get an offer close to their asking price in the belief that their home is rising in value.

If house prices are stagnant, or even falling, they are much more likely to accept an offer. It’s also worth researching any major local building developments, major road or transport plans that might impinge on the location in the short term.

5. What do similar properties go for?

The best way to judge a fair price for a property is to see how much similar properties in the same area have recently sold for or are currently listed for.

If the asking price is significantly above these prices, it gives you a good idea of what your offer should be.

6. How much did the current owner pay?

Another indication of the offer a seller may be willing to accept is to look at how much they paid for the property themselves.

The ‘Price History’ section on the property’s listing on our website includes Land Registry data on when the property last changed hands and how much it sold for.

There are no hard and fast rules here, but generally speaking if someone has only owned a property for two or three years and the asking price is only slightly higher than the price they paid, they may be less likely to accept a lower offer than someone who has lived there for more than a decade, during which time the value of the home has doubled.

7. Why is the property being sold?

Finding out why the property is being sold can give you a valuable insight into how likely the owners might be to accept an offer.

Talk to the people selling or ask the estate agent. If they have already put in an offer on another property themselves, they are more likely to be in a hurry to sell.

By contrast, if they have listed their home to test the water but don’t yet have another property lined up, chances are they will be happy to hold out for a higher offer.

Other factors that may mean people are in a hurry to sell include needing to relocate for a new job, a loss of income, getting divorced or having children/outgrowing their current home.

8. Is anything driving the price higher?

A final thing to pay attention to is whether any other factors may be driving an asking price higher.

For example, is the property in the catchment area for a particularly sought-after school or is it within walking distance of a railway station to a major city.

If you click on the ‘Map & Nearby’ tab in the listing, you can see whether there are any schools, railway stations or other notable amenities in the vicinity.

If you’re coming to the end of your tenancy and want to move out, you might be wondering what to do next. To help make sure your rented property is in order before you pack up and move onto your new home, we’ve put together this handy guide.

Give notice to end your tenancy

If you are on a fixed-term tenancy then be sure to read through your AST and check the terms of ending the tenancy early and what notice you need to give. This will be found under the Break Clause. If you are on a periodic tenancy, then you need to give your landlord one month notice to leave the property.

Always check the terms of your agreement as some contracts may ask for different lengths of notice you have to give.

Getting started

Once you’ve notified your landlord or letting agency that you do not wish to renew your tenancy, you should first make sure you have all your paperwork in order. Check that you retained a copy of your tenancy agreement and dig out any other written accompanying documents, including your move-in inventory report, a copy of the EPC and the Gas Safety Certificate.

You should have been given these at the beginning of your tenancy, however, if you don’t have them, you can request new copies from your landlord.

If you’re unsure of your responsibilities as a tenant, then check back over your original agreement, where these should be clearly listed.

Do a deep clean

Cleaning is the number one reason for landlord/tenant deposit disputes, so the cleaner and tidier you leave the property, the more likely you are to get your full deposit back.

If you don’t fancy getting your hands dirty, you can always arrange for a professional, end of tenancy cleaning, prior to your check-out appointment. The upholstery, carpets, windows, curtains, appliances, gutters and outdoor areas will all need to be returned to the same state they were in at the start of your tenancy.

If you do a hire a professional company to clean the property, then make sure you keep any receipts from them as proof of the clean and to avoid any disputes over your deposit.

All rubbish or personal belongings should be removed. Any decorative damage, such as holes caused by picture hooks etc, must be repaired before the inventory check-out is conducted.

Take photos

Once you have tidied the property, cleaned everything, repaired any damage and removed your belongings, then it is highly recommended that you take pictures of every room in the property and close-ups of any furniture or appliances, preferably with a time stamp.

If any parts of the property were damaged or stained when you moved in, then be sure to take pictures of these when you leave as well.

The more pictures you take the better, as they can be used as evidence for any deposit disputes that arise.

Check-out inventory

Much like when you move into a property, an inventory should also be completed when you move out. This allows your landlord to identify any deterioration in the condition of the property during the tenancy and inspect the general cleanliness.

Your landlord or letting agent will contact you to arrange the inventory check-out, but it usually takes place a couple of days prior, or on the day of departure. However, we recommend taking your own photos of every room and making comprehensive notes of any faults before this.

TOP TIP: when moving into a new rental home, make sure to take pictures of the property’s condition, which you can then refer back to once your tenancy ends.

Your check-in inventory can be a great tool when moving out, so make sure to go through the original report well in advance of your departure and put back any items that have been moved or put into storage during your tenancy.

Remember to check your tenancy agreement for references to fair wear and tear – this is the process of general wear that landlords must take into account when a tenant leaves a property. Your landlord must make allowances for:

• the age, quality and condition of any item at the start of the tenancy;
• the average useful lifespan of the item;
• the reasonable expected usage of such an item;
• the number and type of occupants in the property; and
• the length of tenancy.

If any further maintenance is required at the end of your tenancy, it’s advisable to get your own repair cost estimates and forward them to your landlord in order to kick-start the process of necessary work taking place.

If your landlord hasn’t arranged a check-in or check-out inventory, then they will struggle to dispute any deposit deductions with you. In this case, make sure you have as much evidence on the state of the property before you move out so that you are in a better position.

Return your keys

When you leave a property, it is essential that the property is locked up, and all copies of the keys are returned.

Keys are usually required to be given back by the move out date (although we recommend checking this with your landlord) and when you hand them over, make sure they are clearly labelled with your name and the property address.

They are best returned in person; however, some letting agents or landlords may allow you to return them by post. If you do choose to mail the keys to your landlord or agent, you will be responsible should they go awry during delivery.

It’s worthwhile asking your letting agent or landlord for a receipt or written confirmation that they have received the keys, which we would recommend holding on to until you have had your security deposit back.

If you fail to return your keys by the specified date, your landlord or letting agent may deduct the cost of replacing the locks from your deposit.

Get your deposit back

Your City Realtor letting agent or landlord will contact you directly to discuss any estimated costs for damage following the check-out report. In most cases, a full refund of your deposit will be given provided there is no damage to the property.

Where the agent holds the deposit, the agent will need written confirmation from both you and your landlord in order to pay deposit monies to either party. Your tenancy agreement detail provisions relating to the return of the deposit.

Your house will almost certainly be more attractive to buyers with some general sprucing up and cleaning. Larger projects such as loft conversions, converting a garage or adding a conservatory may reap high rewards if you have the time and money. But small things can make a surprising difference too.

Redecorate and complete easy upgrades

Redecorating is the most popular home improvement and giving your home a lick of paint and doing some general maintenance can be done at a very low cost. Fresh paint in modern colours can go a long way to giving your home a new lease of life, so do not be afraid to pick up the paintbrush.

It’s also best to fix all superficial defects. While unlikely to be the clinching factor in a house sale, small problems and defects can create an impression of a house being run down or not well cared for. Things to look out for include:

• Peeling paint
• Dirty walls, especially near doors frames and around switches
• Dripping taps
• Squeaky floors, doors or stairs
• Mouldy sealant in kitchens or bathrooms
• Limescale built up on kitchen and bathroom fittings
• Badly fitted laminate flooring
• Broken lightbulbs

Bigger issues such as damp should not be covered up. It will show up on a survey and is likely to come back to haunt you later on.

Replace doors

First impressions count. Make sure the outside of the house is welcoming the front door of your home can say a lot about the rest of the house to viewers seeing it for the first time. If you cannot afford to replace the door, make sure it looks new by giving it a power wash or a fresh lick of paint. Even a new doorknob, house number or name sign can help.

Try to make your front door look smarter than your neighbours’.

Makeover the kitchen

Kitchens are often the focus for many buyers, so it may be the first thing they look to replace if they can’t imagine living in yours. It’s no surprise that 65% of homeowners have renovated their kitchens before selling up. You may not be able to afford a whole new kitchen, but there are many smaller ways to improve what you already have.

For a relatively small budget painting units or replacing cupboard handles or doors are a cheaper way of refreshing kitchens. Good lighting and clutter-free, clean surfaces will make a big difference to the feel of the house

Buyers may be willing to pay more to save themselves the hassle of buying a new kitchen.

Adding or updating a bathroom

In the bathroom, re-grouting, eliminating all limescale and replacing taps are a good option. Bathrooms need to be fresh and hygienic looking, so paint the walls a neutral shade, and ideally replace a shower curtain with a new one or a simple glass screen.

Garden appeal

An attractive, tidy, well-designed garden can add a great deal of value to a property. It is essential to trim borders, clear pathways and cut back any overgrown trees or bushes.

The garden should feel like an extra space for entertaining or relaxing, rather than an expanse of grass.