2. Market Appraisals Flashcards
Before market appraisal : Location Style of property Construction Size Condition Fur or unfur Availability Info on landlord
Landlord contact details
Fist time landlord.
Buy to let or own home
Overseas landlord
Market appraisal
To asses property and advise landlord on my services
Potential asking price marketability Snd process involves
About landlord - market appraisal
Full Address
Overseas landlord - power of attorney
Any restriction about tenants
about property - market appraisal
Viewing arrangements Location for let board Accommodation available eg garden garage etc Condition and appeal What fur included Type of heating Gas ? Gas safety record Septic tank? What arrangements to empty it When elec was tested Smoke alarm n carbon Working chimney ? When last swept any spec req about appliances Instruction manual fir appliances Any plans to redecorate If leasehold property : NAme of manAgement company Bin location Meter location Parking restriction Copy of lease
Market appraisal - info for lnrd
Services feee and right to cancel Landlord obligation including repairing and safety obligations Need to building and contents insurance Meaning of wear and tear Meaning of quiet enjoyment Suggest improvement to increase marketability Need to carry out rent checks Putting up let board
Assessing rental vAllue
What do you compare
Style - wow factor Location Amenities Size Age External And internal condition
Assessing rental value
What do you compare when u try to assess rental value
Style Location Amenities Size Age External and internal condition
What do you check when you look at accessibility
- when assessing rental value
Local amenities
Key points
Access for certain groups blind n disabled
Occupancy restrictions
Restriction by local authorities who can Or who can’t live in area
To let boards
Should not be more than 0.5 m2. Or 0.6 for two If attached to building her should not project more than 1 m from face of building No symbol bigger than 0.75 m in height Or 0.3 in conservation area as Not higher then 4.6 m 3.6 in special control Lowest level practicable
For commercial property can be 2m2 or 2.3 for jointed
Fly boarding fine
Breach of 2007 regulations
Fine upto 2.5 k
Town and country planning regulation
Is also acckmadsyion agency breach
And cpr : 5k
What are best comparables
Properties
With similar spec
Similar area
Recently let
When I assess what u need to ask
Is there demand for this type of property How u compare Who this will appeal to Can you find suitable applicants How long it takes to rent
