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Report maintenance What type of Bristol property should you invest in?
In July, we started to share with you some nuggets of information to help set you on your journey to becoming a successful Bristol Landlord.
In this article, we’ll talk through the types of properties and which might be right for your property investment in Bristol.
Right place, right time: finding the property for you
The type of property you’re looking for depends on how much you’re investing, and what you want to get out of your investment. Before making any financial decisions, it’s best to weigh up your options and consider where your money, and potentially time, is best spent!
You’ll also want to think about whether you’d be looking for student or professional tenants, particularly when considering location; students tend to have a higher rent, however a higher turnover of tenants – something we would be happy to chat with you about.
Flat
When purchasing a flat to rent, you give yourself options. Flats tend to be more popular with renters looking for accommodation close to amenities and workplaces around the city. Also, with the living space usually on one level, moving rooms around to fit potential tenants’ needs is easier.
One of the potential issues raised when buying to let a flat is the likelihood that it’s a leasehold rather than a freehold. Leasehold tenures tend to come with extra responsibilities and costs. You’ll own the flat, not the building it resides in. This usually means dealing with a management company, something that can be difficult.
House
Charm-filled Victorian terrace properties line many of Bristol’s streets, and when well maintained they can attract a higher rent. However, period properties can require a fair bit of maintenance. Issues like damp and mould can be more likely, so regular inspections to catch issues early can be priceless. This is something that our Property Managers deal with if we manage your property!
Proving popular with young professionals and families, you’re likely to see interest from long-term tenants. Similarly, depending on the floorplan and space, a house can be turned into an HMO, giving you options with regard to your return and the type of tenancy offered, but more on that later.
Newbuild
Newbuilds don’t have to be ‘magnolia’. Like so many things in our city, Bristol’s creativity can be seen in many new builds over the years. Newbuild properties are usually finished to a high standard and are almost ready-made rental homes. Easy to let out unfurnished for tenants to make their own with furniture and accessories etc. An added bonus is that your Energy Efficiency rating should be lower than that of an older building!
Newbuilds in areas near some of the bigger companies can be great to tap into the corporate let market. Attracting professional tenants with properties close to where they work, with developments plotted in areas like Cheswick Village and Filton there’s plenty to consider.
HMO
A House of Multiple Occupancy is where you will potentially see the biggest return on your investment. However, the larger return can come with administrative headaches for landlords. An HMO will have a number of additional requirements, including obtaining the correct licenses. There is a lot to consider when making the application, so if you are going at it alone, it’s essential you check the requirements with your local authority as they all have slightly different rules and requirements. With additional licensing requirements for larger HMOs, there’s a lot to think about.
We’re always happy to have a conversation with potential new landlords who are considering going down the HMO route, whether that be buying a property that has already been converted, or one that needs the necessary works carried out. We can give information and advice on what’s required and help you along the way!
Bristol’s best festive finds
It’s the most wonderful time of year, and after a busy 2022, we’re desperate to get out and join the December festivities this year. Our city knows how to celebrate, so we’ve lined up some of our favourite Bristol festive finds for all to enjoy!
Fancy a film?
Bristol Film Festival is back, screening timeless films in some of the city’s most iconic locations. Bristol Museum is showing loads of best-loved festive classics this December, but for us, we will be heading to their showing of Home Alone on the 19th!
For an extra special experience, a vintage screening of It’s a Wonderful Life is also being shown at Averys historic wine cellars on December 20th. This unique experience pairs a Christmas classic with a tasting of specially selected wines, as well as a deli box from Two Belly!
https://www.bristolfilmfestival.com/event/its-a-wonderful-life
Bristol Christmas Markets
Located within the heart of the city centre, Bristol Christmas Market has over 50 Christmas chalets housing traders offering unique gifts and tempting treats, as well as mouth-watering food stalls including traditional German bratwursts and festive vegan wraps. The Jager Barn Bar offers festive classics from Baileys hot chocolates to mulled wines and cider. The bar is surrounded by private igloos providing the ultimate winter wonderland experience and seating up to 8 people; these magical domes can only be booked in advance online. https://bristolchristmasmarket.com/igloo/
Sail with Santa
Join Bristol Ferry Boats for some festive family fun this December. The onboard elves create a unique experience for kids to go on the hunt for Santa on a 45-minute boat trip around Bristol Harbour. This special voyage is topped off with sherry, seasonal snacks for the adults, and personalised gifts for the children from Santa Claus. https://www.bristolferry.com/public-trips-and-tours/santa/
Cinderella at Bristol Hippodrome
What would Christmas be without a Panto? Starring Craig Revel Horwood, Cinderella has it all, laugh-out-loud comedy, stunning scenery, beautiful costumes and plenty of boos and hisses. Make sure you book in advance as this Bristol festive feature promises to book out fast…oh no it doesn’t…Sorry.
Student accommodation – preparing to rent
The student accommodation market is very competitive, with most student properties being let within the first week of viewings. So, to secure your perfect Bristol student let, make sure you take a little time to get everything in order. The student rental market will be in full flow by December, so the sooner you start looking the wider your options should be.
Here are a few of the things you’ll want to consider:
What can you afford?
Let’s be honest, you’ll want to be working hard or having fun (hopefully a bit of both), not worrying if you can afford this month’s rent. This will probably be the first time you’ll have had to worry about household bills. So, taking a little time now to do a monthly budget on the key essentials will help you understand what you can afford in rent – leaving you to concentrate on enjoying your new student home.
Do you have a deposit?
You’ll need to be able to pay your deposit usually 5 weeks’ rent to secure the property. Make sure whomever you rent through is using a deposit protection scheme. This is a legal requirement and will keep it safe and ensure any disputes are resolved at the end of a tenancy.
Will you be sharing?
The likelihood is that you’ll be sharing a home with some friends. From small flats to larger properties with up to 10 people (HMOs), work out how many and whom you’ll share with. Make sure you discuss; what you can afford, what you’re looking for, and how the bills will be split. The last thing you want to do is fallout over money.
It’s also a good idea to have a friendly chat about expectations over food, cleanliness, and household chores. No one wants to be the nag, but whom you live with is just as important as the property.
Do you all have a Guarantor?
If you can’t pay your rent or damages, exceeding your deposit, your guarantor will need to fit the bill. If you can’t provide a UK-based guarantor there are options to pay the entire rent up front, but most are unable to do this.
How do I find a student let?
As mentioned before student lets are in high demand. So, the second you spot something don’t hesitate in booking a viewing. And make sure you and your friends are prepared to make an offer quickly, it’s likely there will be other viewings that day.
Where do you want to live?
There will be more student properties near UWE or Bristol University. If you choose to look further afield make sure you consider your travel costs to get to and from the university.
Do you want the property furnished?
Each property will be different but make sure you consider whether you are looking to have the property furnished. Student accommodation will often come with the basics (beds, sofa, wardrobes) – so consider what you might need to supply and what you might need to leave at the parents’!
Are bills included?
Some properties will include one or all the house household bills. So, when looking at rent it’s worth considering if the water, internet, or energy bills are included. Fewer landlords are including gas and electricity within the rent due to the instability of energy prices.
Stay ahead of the game
You’ll find that the most desirable student lets have viewings booked up very quickly. So be sure to set up property search reminders on sites like Rightmove. Follow The Letting Game on Instagram for the first look at all our properties – We post them up to 24 hours before the property hits Rightmove.
Your university or student union sites should also have some useful resources.
First look at student properties
You’ll find that the most desirable student lets have viewings booked up very quickly. So be sure to set up property search reminders on sites like Rightmove. Follow The Letting Game on Instagram for the first look at all our properties – We post them up to 24 hours before the property hits Rightmove.
Your university or student union sites should also have some useful resources.
Found the property
Once you’ve found a property and had an offer accepted, you (and your friends) will need to pay the deposit quickly to secure your new home. There will then be a period of referencing you/your guarantors and some paperwork to fill in. This will usually include an inventory, which is important to check as this will be used as part of the final inspection.
Good luck in finding your perfect student accommodation quickly. Hopefully, we’ll be showing you around your perfect new home soon!
Bristol’s best festive finds
It’s the most wonderful time of year, and after a busy 2022, we’re desperate to get out and join the December festivities this year. Our city knows how to celebrate, so we’ve lined up some of our favourite Bristol festive finds for all to enjoy!
Meet David, Head of Property Management
“Originally living in Glasgow, I moved to Bristol over five years ago after visiting occasionally, both professionally and socially. I love the city for its diversity, constant buzz and independent feel which reminds me a lot of Glasgow.
I’m passionate about helping our Bristol landlords and tenants, which is easy with one of the best property management teams in the UK, and the best in Bristol. The Letting Game has been managing properties across Bristol for over thirteen years; from flats to large HMOs, student and professional tenants to landlords in the UK and around the world. I love working with my team to manage our landlords’ properties and keep our tenants happy.”
What’s the team like?
“There is never a dull moment in property management, whether arranging repairs, helping our landlords improve living conditions for the tenants, or keeping up with the latest legislation. One of the most recent legislation changes is the increased importance placed on Carbon Monoxide monitoring within rental properties. The key requirement was having alarms installed or repaired by the 1st of October 2022 or risk fines of up to £5,000. I’m really pleased to have been able to look after this for our landlords and give the reassurance of a safe home to our tenants. We have recently inspected our landlord’s properties, tested Co2 alarms (arranged repairs when required), and installed any without, making it easier for our managed landlords to comply with the new legislation and our tenants to feel safer in their homes.”
My property management team
What’s your biggest property management success story?
“With a large portfolio of properties and a range of services, we’ve experienced pretty much everything in the letting world.
The highlight this year; building and maintaining a strong, confident, and independent property management team. They’ve remained consistent with their performance, adopting new processes, dealing with changes to legislation, and onboarding a large portfolio. All this whilst delivering a great service.
Property management has a wide variety of responsibilities managing compliance, licensing, maintenance, and notices to name a few. Being a fast-paced and reactive part of the process, we have dealt well with the demands of our large portfolio.
The team is continuously working on ways to improve our service for tenants and landlords, working collaboratively with our clients. So, if you’re looking for expert and hassle-free property management, give The Letting Game team a call.”
Bristol’s best festive finds
It’s the most wonderful time of year, and after a busy 2022, we’re desperate to get out and join the December festivities this year. Our city knows how to celebrate, so we’ve lined up some of our favourite Bristol festive finds for all to enjoy!
Blaise Castle
With a few walk routes to choose from, babbling streams and a manor house (now a museum), Blaise Castle Estate is perfect for a brisk stroll, and one of our favourite Bristol Autumnal walks. Be sure to visit the sham castle where there are fabulous views of Avonmouth, the Avon Gorge and South Wales.
Arnos Vale Cemetry
Hear us out on this one! Set over 45 acres and full of amazing nature trails, we think, as do many others, that this Victorian garden cemetery is one of Bristol’s best-kept secrets. Grab yourself a coffee to warm the cockles as you roam around this fascinating, alternative walking route.
Ashton Court Estate
Created by a group of friends with a big idea and a clear vision, Propyard is an event space like no other This place has it all; gorgeous views, various trails, wonderful woodland, and deer! The yellow building of Ashton Court Estate sits in the middle of this beautiful open space, and whilst it might not be for everyone, we’d recommend a sunrise walk to watch the deer roam across the paddocks, especially on a colder, frosty morning. Sure to blow away the cobwebs!
The Downs
This famous Bristol landmark is one of the city’s most beautiful open spaces. With gorgeous Georgian houses and trees lining the edges, the area can be enjoyed all year round, but the autumnal months really bring it to life. So whether you fancy a brisk stroll or an hours-long yomp, we highly recommend The Downs to get some fresh air in your lungs, as well as feasting your eyes on some of Bristol’s best landscapes.
Stoke Park Estate
The possibilities are endless on this wonderful walk. Head one way for the scenic Snuff Mills route, go further onto Eastville Park, or head to the iconic yellow Dower House for great views across the city and beyond from a slightly different perspective. With the dog-friendly Boston Tea Party just around the corner in Cheswick Village, you can grab a brew with the pooch before heading on your way.
Cabot Tower
As the oldest park in Bristol, Brandon Hill has great views over the city and Harbourside area, it’s also steeped in history. There are pretty paths, a nature conservation area, and one of the icons of Bristol’s skyline, Cabot Tower. But be warned, with most of the walk uphill, you might not need that extra layer after all!
The Letting Game goes electric!
Bristol’s greenest letting agency just got greener as our fleet of electric Mini’s hit the city’s roads. Our expert letting team can now carry out viewings, valuations, inspections, as well as other landlord and tenant services with the use of our green fleet; we really don’t play like the others!
Bristol’s Greenest Letting Agent
We know how important the environment is to the people of Bristol because we feel the same. The launch of our fleet of electric Minis is our latest green step to make sure we remain Bristol’s greenest letting agent. Keep a watch out for our eye-catching Minis, as we look after our Bristol-wide tenants and landlords.
Alongside our Carbon Neutral status and our Letting Game Forest, we continue to do more!
Carbon Neutral
In April this year, we became Bristol’s first Carbon Neutral letting agent. We had our carbon footprint calculated by ‘Carbon Neutral Britain’ and offset against carbon reducing projects across the world; wind, solar, hydra, and cooking stove projects with a focus on providing lasting social and economic benefits in developing countries. Projects like the Nicaforest Reforestation Program.
Planting Trees
Through our partners Carbon Neutral Britain, we also started planting three trees for every property we let in Bristol; one each for the tenants, landlords and The Letting Game team – we’ve now planted 1,000 trees in ‘The Letting Game Forest’. With every let, we are supporting sustainable tree planting projects around the world. This is run by local charities ensuring the planting involves native tree species and provides jobs for local communities, who are directly involved in the tree planting themselves.
Bristol’s best festive finds
It’s the most wonderful time of year, and after a busy 2022, we’re desperate to get out and join the December festivities this year. Our city knows how to celebrate, so we’ve lined up some of our favourite Bristol festive finds for all to enjoy!
14 years of Bristol HMO experience
Since taking on our first let over 14 years ago we’ve seen a lot of changes to the HMO market; licensing, compliance legislation and zones developed. Throughout all that change, The Letting Game has been able to offer support and advice to new and existing landlords to make licence applications as seamless as possible. As licensing and compliance experts, we’re able to cater to our landlord’s HMO needs in-house.
Licensing Bristol HMOs
If you’re a landlord and we manage your property, we will take care of the whole process; from applying for the licence to attending inspections with the council, to arranging contractors for the schedule of works.
There is a lot to consider when making the licensing application. So if you are going it alone, it’s important you check local authority rules and requirements, they differ by area. For example, Bristol City Council requires a mandatory licence for properties with at least 3 tenants that form more than 1 household (with shared facilities like a bathroom or kitchen.) With additional licensing requirements for larger HMOs, there’s a lot to think about.
We’re always happy to have a conversation with potential new landlords who are considering going down the HMO route. We can give information and advice on what’s required, or do it all for you!
HMO Compliance Legislation
In applying for the licence, there are a number of considerations, responsibilities and legal requirements for an HMO landlord. From minimum bedroom sizes to fire safety measures, electrical checks and energy performance certificates, all of which are mandatory.
Whilst it can seem very complex, we’ve got the expertise to make it simple and hassle-free for our landlords. We’re passionate about making the running of HMOs as easy as possible for our landlords. Owning and renting out an HMO can be very rewarding both personally (you’re providing multiple people with a lovely new home) and financially. The Letting Game just takes away the hassle! Find out more about our HMO expertise here>
Bristol’s best festive finds
It’s the most wonderful time of year, and after a busy 2022, we’re desperate to get out and join the December festivities this year. Our city knows how to celebrate, so we’ve lined up some of our favourite Bristol festive finds for all to enjoy!
Ongoing until the 30th of September: The Van Gogh immersive experience
If you live in Bristol and have Instagram, chances are you’ve seen videos, pictures and stories from this amazing art installation. The exhibit is housed at Propyard in BS2 and invites visitors to step into more than 300 of Van Gogh’s sketches, drawings, and paintings by using floor-to-ceiling digital projection. A favourite of ours? The one-of-a-kind VR experience in a separate gallery allows you to spend 10 minutes in the life of the artist, showing the inspirations behind some of Van Gogh’s most famous pieces. One of Bristol’s best summer activities for all to enjoy!
28th August: Bristol Alternative Market – Trinity Centre
This community market event is the perfect spot to discover something different, full of all things left-field, dark, quirky, and new age. Spread across the full Trinity grounds, there’s a diverse selection of over 100 stalls, selling all kinds of things, including clothes, books, jewellery and more.
28th August: Propyard summer terrace party
Created by a group of friends with a big idea and a clear vision, Propyard is an event space like no other in Bristol. From amazing art exhibitions and yoga sessions to DJ sets, the St Phillips space hosts something for everyone. Sign off the summer in style with their Summer Terrace Party, and with tickets starting at £5, your Sunday rave doesn’t have to break the bank.
Ongoing until the 3rd of September: The BIG Summer Send-Off – Bristol Zoo Gardens
If there’s one event to make room for in your diaries, it’s the Big Summer Send-Off at Bristol Zoo Gardens. This iconic Bristol landmark attraction will be closing on the 3rd of September after more than 185 years, ahead of the opening of the new and improved Bristol Zoo at the Wild Place Project site. With a specially-commissioned giant Gorilla sculpture and an interactive theatrical experience, this promises to be a send-off to remember.
Ongoing: Wake the Tiger
How do you even begin to describe this utterly unique Bristol experience? Founded by the creative minds behind the internationally renowned Boomtown Fair, Wake the Tiger is an immersive experience, featuring 27 different environments, including artwork, soundscapes, installations, and secret passageways to bring a story to life. Think Never Ending Story meets Boomtown…a must-see!
28th and 29th: The Harbourside street food market
Combining street food and scenic spots, this food market is perfectly positioned to enjoy culinary city life! Running every Wednesday, Thursday, Saturday and Sunday, The Harbourside Street food market celebrates Bristol’s incredible indie food and drink scene, along with DJ sets a few times a month. Check out the upcoming lineup on their website to ensure you don’t miss your favourites!
Bristol’s first Carbon Neutral Letting Agency
We know how important the environment is to the people of Bristol. Whilst we continue to challenge our standards, there is more we can do. We want to make sure we have a positive impact and help our tenants and landlords do the same. That’s why we became Bristol’s first Carbon Neutral Letting Agency by offsetting our Carbon Footprint with our partners Carbon Neutral Britain. This means we support carbon reducing activities across the world; including wind, solar, hydra and cooking stove projects, with a strong focus on offsetting that provides lasting social and economic benefits, in developing countries around the world.
Over the next few months, we’ll tell you about the projects that The Letting Game are supporting, starting with the Nicaforest in Nicaragua.
Nicaforest Reforestation Program
The Nicaforest is in Nicaragua, a country in Central America. The Nicaforest program has 1,210 acres of land, looking to contribute to the creation of a sustainable timber trade. By working closely with local landowners the project makes sure that all stakeholders are fairly rewarded for their efforts. The program plants teak trees and other species for future sustainable timber production, as well as supporting the local community.
The project protects the remaining patches of native forest land and creates additional protected areas on riverbanks and other watersheds. The forests offer a natural habitat for native animals and plants, protecting and enriching the soil as well as saving and filtering water. All this contributes to the fight against the greenhouse effect.
How does this help the environment?
- Reduced deforestation – Planted around 360,000 trees on 4 different farms.
- Removing CO2 – The project has supported cleaner air with 45.6 tonnes of carbon dioxide removed.
- Natural Forests and nature protected – About 25-30% of the farms are areas where natural forests are left protected; enhancing plants and wildlife.
- Watersheds protected – Trees are not cut down within 100 metres of the river and creek to protect plants, wildlife and soil.
- Creating jobs – The project has provided more than 200 jobs during the planting periods and approximately 30 permanent ones. Jobs come with salary contracts, social security and equal pay for men and women.
- Help for farmers – By signing a Shared Benefit Agreement with Nicaforest, the farmers are able to enter the international timber and carbon market. Something that wouldn’t have been possible without the program.
- Transfer of know-how – The training and education of staff is an important part of operations. Furthermore, students from universities of natural sciences participate in programs enabling them to complete their education through field studies.
- Local food growth – The program developed a system for people without land to grow food crops like beans in between rows of trees. Over 70 tonnes of crop has been produced so far.
- Increased community support – A more reliable income for farmers, as they benefit from both the timber and carbon market. The increase in job opportunities supports the local communities.
Bristol’s Greenest Letting Agent
We are really proud to be supporting projects like these on behalf of our tenants and landlords. We’re also proudly growing our own ‘Letting Game Forest’ on behalf of our Bristol landlords, tenants and our team, you can read more about it here. All in support of our mission to become Bristol’s greenest letting agent.
If you would like to let your property through Bristol’s greenest letting agent then please give us a call.
Team TLG raise £1,060 for charity!
On Saturday the 30th July, some of our Letting Game team ran, walked and hobbled 100k around Bristol, raising funds for our official charitable partner, The Bristol Animal Rescue Centre (Bristol A.R.C). We are extremely proud to have raised over £1,000 for the Rescue Centre, and our team would like to thank each and every person who gave what they could. Your donations will help Bristol’s most vulnerable animals at our city’s oldest and largest animal rescue centre.
Here are a few shots of our team at the finish line. Head over to our Instagram for more exclusive snaps and videos of the event, as well as our pet-friendly properties!
Why did we do this?
We’re proud to be a Bristol independent business and wanted to do our bit for the City’s animals. As we launched Bristol’s first pet-friendly lettings service in 2018, it made sense to join forces with Bristol Animal Rescue Centre – Bristol’s longest-standing and largest local animal charity. Every pound raised will go towards rescuing, rehabilitating and rehoming Bristol’s most vulnerable animals.
£5 could help provide an animal treat pack, such as a bouncy ball or tasty snack, which will reduce stress and brighten up their time with Bristol ARC
£10 could help provide warm comfy beds for our feline friends whilst they wait for their forever homes
£25 could help provide a well-being kit for the pooches, including providing calming music, soothing scents and a comfortable blanket to help reduce stress
On behalf of The Bristol A.R.C and our team, thank you for your incredible support!