For landlords looking to rent or let in Guildford, it can be a great source of extra income. With the great history of the town, plenty of nearby amenities and excellent transport links, it is also pretty easy to market! After all, tenants looking for some respite alongside their commute to work will no doubt snap up a property in the local area.
On the other hand, tenants looking for somewhere to stay in the heart of Surrey are sure to be impressed by the standards of property on the market as well as the potential benefits the location has to offer.
Jane Fairhurst, our Lettings Manger in Guildford says, “whether you are looking for star tenants to occupy a second property or have a new year’s resolution to become those star tenants and enjoy the historic town of Guildford – I have some top tips and expert advice that you can’t miss”!
There is a lot going on in our local area and plenty on the market. So take a look at our listings for an idea on rental fees, location and property types. Our agents are also always waiting for the next email or phone call to come in – so get in touch if you have more questions.
Letting Out Your Property: Tips For Landlords
Once you’re settled in Guildford, it can be tempting to buy a second property to let. You will already be familiar with the property market in the area and have a good idea of specific locations that will fit your needs as a landlord.
We understand that having somewhere close to your own home is ideal as it allows you to carry out maintenance, repairs and other checks when needed. However, other areas outside of the town centre for instance may be priced more affordably to help maximise your own profits with rental income.
Think about your target marketing.
People looking to rent or let in Guildford can often be put into two categories. Who you wish to target may impact the kind of property you wish to invest in, as well as the location and price in general.
Firstly, business people are known to flock to the town because of its reputation for easy commuting and proximity to other cities, airports and villages. This type of audience may be looking for something further into the rural side of town so that they can appreciate the contrast from their commute to London each day.
If this is the case, they may be willing to pay a little more each month for the luxury of quiet surroundings and beautiful countryside on their doorstep. Also, with house prices in London skyrocketing and the average income of those who work there being slightly higher than those in Surrey – they are more likely to be able to afford bigger and more upmarket rental homes outside of the city.
However, on the other side of the market, you have local students. Their need to rent or let in Guildford will come from the neighbouring University of Surrey and colleges that sit just outside of town. Many students are on the hunt for new accommodation that allows them to travel between campus and the centre as well as attend any part-time jobs or internships they may have.
With this in mind, an investment in smaller flats, apartments or shared homes could see you benefitting from this target market. You’ll have to bear in mind that while they may want to be closer to town – they will not have the capacity to spend as much each month. This could mean having to welcome multiple occupants or keeping an eye out for smaller properties in the area.
Research prices in the area.
Our property search tool is a great place to start when doing research into how much you should be charging. You can specify the areas that you would like to compare and browse the property types as you go.
This is a really important step for landlords as it puts you in a position to be competitive and seek out the best tenants. Offering a good rate on monthly rental costs will draw in more potential tenants and allow you to carry out vetting processes. So if you want to be a little picky with who occupies your property – make sure you know what you should be offering.
As well as general market research, we offer free valuation services to ensure you are getting the best possible deal. Simon, our sales manager recently wrote a blog on the different types of valuation for your property. It is important to get professionals out to take a look at the condition, size and location of your buy-to-let so that they can give you the most accurate figure.
Rent Or Let In Guildford: Tips For Tenants
Living in a commuter town has many advantages. From the availability of public transport to the scenic walks and visits to the theatre – it offers a bit of everything. Similarly, with plenty of local and independent shops, cafes and restaurants there is always somewhere to relax or even find a part-time job if you are studying.
However, for families or elderly residents who are after something a little different – the vast difference in location even 10 minutes up the road means you can enjoy every aspect of life in Guildford whilst avoiding the parts you aren’t so fond of.
It can be a drastic difference from living in a busy city. But when you want that bustling atmosphere, the high street can certainly provide a taste! The same goes for house prices too. You will find a mix of everything when looking to rent or let in Guildford, so keep an eye on our listings and maybe even make a trip up when you can.
One of the biggest factors when looking for new accommodation is costs. We understand that while you may have a budget, the entire property and location must also be up to standards.
While the average rental fees for our area sit at £400 a week, this number can range drastically from £185 to £645. As a result, it is important to factor in the impact of living closer to the centre as opposed to further on the outskirts of town. If you are looking to stay somewhere that offers higher rates, it could be worth considering the option of subletting where possible or sharing the costs with another tenant.
We know it is easier said than done, but being as flexible as possible when it comes to viewing properties will ensure you get the best opportunity to make an offer and apply as a tenant. Guildford is a hotspot for buying and renting so it doesn’t take long for things to fly off of the market.
Sometimes, if you can’t make yourself available within 24 hours, you may easily miss out on the opportunity. However, it can also be hard not to be put off by small details like wallpaper choices, cracks in the wall or the colour of the sofas. To stand a better chance at these being rectified, you should put in a request as soon as you make that offer. Asking for changes like this after the move-in date could be a lot more difficult.
Although, being flexible doesn’t mean settling. We would never want you to make a rushed decision and so if you can take the time to visit soon after your agent notifies you – it will also give you the most time to make these sorts of requests and think about what needs to be done to make the property suitable for you.
Once you’ve found the perfect home and had your offer accepted, it is important to gather all of the relevant paperwork and contact details you may need throughout your tenancy. This will ensure you know who to talk to in the event of an issue or where repairs may need to be made. Whoever is managing the property will be in charge of carrying out maintenance and answering any queries you may have so it is important you receive all of their details.
Similarly, to ensure everything runs smoothly once you move in, remember to treat the property as if you own it. It can be hard paying rent when you know it will never be yours. However, taking care of the furniture and leaving it as you found it at the end of tenancy will ensure you get your deposit back and have a good reference should you want to rent or let in Guildford (or anywhere else) in the future.
Furthermore, being on good terms with the landlord may put you at an advantage should you need adjustments made or if you ever have an issue paying them on time. Star tenants are highly sought after as people often prefer long-term occupancies. So keeping the place tidy and well looked after within reason could benefit you in the long run.
Property Market Experts At Your Fingertips
The team at Seymours live and breathe Surrey. Our Guildford offices are situated in a prime location. We see the changes being made to the local market every day and have extensive knowledge of the area.
It is this that allows us to provide the most concise and useful information possible to those looking to rent or let in Guildford. We can help you research and find the best deals available as well as helping you to carry out property valuations and surveys where needed. It is a competitive market and so working with the right agents is sure to give you an advantage.
Our team is ready to help in any way possible. So get in touch today by phoning 01483 576833 or visiting our website.