In this week’s lettings article, we explore some reasons behind rent increases and the costs landlords are facing.

In a cost of living crisis, it’s not a bad idea to think of ways to make (or save) extra cash. Some people take on part-time jobs or start up a side hustle, others might start selling unwanted items from around the home. But here’s another idea, what about using your property to increase your income? Homeowners around the country are forking out for higher-than-ever monthly mortgage payments and eye-watering energy bills, so maybe it’s time to make your bricks and mortar work for you. While an obvious way to make money from your home is to take in a lodger, many of us don’t fancy living with strangers. In this quick read, we look at other ways you could earn cash from your crib.

Energy is a hot topic. From price hikes to conserving energy, every day there seems to be a new thing to think about. And now, research has shown that being more energy efficient could even bump up the value of your home.

Looking at the newspapers with their doom and gloom headlines, you would think that the Margate property market would be on its knees. Yet Margate house prices and the number of properties selling continue to be high. Read the article to find out why…

Broadstairs OAP retirees have to make tough choices with the onset of the cost-of-living crisis. Growing inflation, unpredictable financial markets and the high cost of living mean many former retired Broadstairs people are returning to work in what has been dubbed the ‘great unretirement’. Some are even bringing forward their downsizing house move. Looking at the changing job market, July saw the most significant month-on-month rise in OAPs working since records began in the 1990s when 1 in 23 of all the UK’s OAPs went back into employment.

As gas and electric bills rocket for Margate tenants, Margate landlords who do not start to make energy efficiency upgrades face lengthy void periods and will have to discount their rents, whilst those Margate landlords with high energy efficient rental properties will be able to charge a premium.

Thanet property prices have increased by 27.8% over the last two years. Thanet house prices have risen on the back of several things, including changes in how people see their homes and how they live and work (i.e. working from home), a lack of properties on the market and government tax incentives (the stamp duty holiday in 2020). Yet, the tide could be beginning to turn as the number of houses coming on the market is increasing as supply is starting to catch up with demand - in Q1 2022, 389,811 properties came onto the market in the UK compared to 425,295 in Q2 2022. One would typically expect Q1 to be larger than Q2 in average years. Yet some commentators are saying one thing that could stifle this growth is the cost-of-living crisis.