1. What does Orchard & Shipman Residential offer landlords?
Orchard & Shipman Residential is a new online letting service that provides landlords with three different packages, including a fully managed service; rent collection; and a let only service. In addition to this, the service offers landlords a unique Rent & Legal Costs Protection Plan, which provides guaranteed on-time rent for the length of a tenancy; payment of any of legal costs linked to possession; hiring of a solicitor for any possession cases; and cover of any loss of rent that a landlord might have after an eviction. Orchard & Shipman Residential offers a unique lettings service, backed by a network of award-winning letting agencies, giving landlords peace of mind that their property portfolio is being professionally managed and cared for by a team of experts.
2. How does Orchard & Shipman Residential differ from competitors?
Orchard & Shipman Residential is backed by Orchard & Shipman, a leading residential property management company, with more than 25 years’ experience managing the assets of private landlords, residential portfolio owners and large corporate and institutional investors. Good management is the key to making any property investment successful. Orchard & Shipman Residential’s experienced and talented team has a thorough understanding of the operational, financial and compliance requirements of residential property management. Combining the firm’s local letting experts, robust property management systems and unique landlord packages, Orchard & Shipman Residential takes care of investments, giving landlords peace of mind.
3. What do you think are the key challenges that face investors and landlords over the next 12 months?
Government legislation, tax changes and rent arrears look like they are on the agenda for 2016. The new criteria for buy-to-let mortgages may be challenging for some landlords who have high loan-to-value on their properties. The tax changes will impact landlord profits, so rent prices will have to increase to manage the shortfall. Finally, I think legal and tax compliance is always challenging for landlords and the burden of legislation is likely to increase in 2016, as the Government attempts to further regulate the rental market.
4. How do you think the property market will perform over the next 12 months?
Despite the Government and mortgage companies’ attempt to put the brakes on the buy-to-let boom, the reality is that many people see renting as a lifestyle choice rather, than an option, because they can’t afford to buy. It is estimated that more than half of 20 to 39-year-olds – ‘Generation Rent’ – will be privately renting by the year 2025. All the indicators show that the rental market will continue to grow in 2016, as house prices climb out of the reach for many low to middle income professionals and families in the UK. There is a significant shortage of affordable housing and the industry needs more landlords to provide affordable, quality accommodation. Landlords should continue to experience good yields and void periods should stay low. However, with rising rent prices in many parts of the UK, we could see rent arrears becoming a bigger problem. However, landlords can protect themselves from this with rent guarantee products that are definitely worth considering.
5. What do you love about the property industry?
It’s simple really. We all have a basic need to put a roof over our heads and I really enjoy working with landlords and tenants to improve the process to make this happen. I am passionate about raising standards and improving the quality of service that landlords and tenants receive from agents.
6. What do you hate about the property industry?
I hate the slum landlords and rogue agents that rip of tenants and give the industry a bad name. It never ceases to anger me that so many people are housed in appalling accommodation. I also hate all the bad press that agents get and the general poor reputation of the industry. Time and time again, we are considered in the same boat and hated as much as car dealers, traffic wardens and lawyers! I hope that one day, the industry is recognised for delivering a high quality service. There are some really good agents and landlords out there that pride themselves on looking after their clients and tenants.
