Property Uncovered

Trade secrets of a property expert

Louisa Fletcher

• Publisher: Harriman House
• Year: 2014
• Edition: 1
• eBook ISBN:
  9780857194473
• Topic: Business
• Subtopic: Real Estate
• Index: Business

Your essential guide to everything propertyProperty Uncovered is an invaluable road map to help you navigate through the complex world of finding, buying, selling, renting, letting and owning a home. Fighting your corner, property expert Louisa Fletcher reveals how to save money, make money and - most importantly - protect yourself.Filled with insider's advice you can't get anywhere else, and frequently hard-hitting and hilarious, Property Uncovered is your no-nonsense guide to property. It's incredibly comprehensive and packed with practical guidance on everything from finding stress-free flat shares to dealing with estate agents, letting agents and solicitors. Louisa also talks you through adding value to your home and provides top tips to help keep you sane when moving house.In addition, she reveals what you need to know about your property rights if splitting up with a partner, how to negotiate the mortgage maze in the light of recent legislation changes, ways to successfully deal with the most common causes of neighbour disputes, and much more besides.With this entertaining, down-to-earth and practical guide, Louisa provides probably the best introduction to property you'll find on the shelves.*Sorry folks, but this book doesn't cover Scottish property law*

1.
Fantastic Flatmates

In an ideal world, we’d all be able to afford our own pad – a bijoux space that reflects our personality and offers us a sanctuary from the rest of the world. Or for the more pragmatic, a facilitation point for dressing/sleeping/watching TV and, when lucky, the occasional romantic encounter. A place where neat-freak tendencies can be indulged, or for others of a less orderly persuasion, somewhere to leave all their worldly possessions strewn everywhere with no fear of nagging.

However, the stark reality these days is that it can take a while to get a foothold on the property ladder, and therefore compromises must be made in the short term. Becoming a flatmate or, conversely, letting out a spare room to bolster cash flow so that the mortgage or rent can be paid, are ideal alternatives to living with your parents. Or squatting.

In fact, chances are, if you’re reading this, are under thirty and live in one of the UK’s major cities, it’s highly likely that you are living in a house or flat share set-up. In fact, according to www.spareroom.co.uk, one in eight flat sharers is actually over forty. Given the rise in rents and property prices over the last ten years, there has been a startling increase in ‘professional renters’ – people who need to balance the career advantages of living in a city with the sky-high costs of urban housing. At the same time, there’s been a proliferation in property owners with crippling mortgages who need to rent out a room or two for a period of time to boost their income. So let’s get it straight now: house or flat shares are not just for students.

In fact, it’s estimated that by 2020 two out of five of all private households will enter into private sharing arrangements: households made up of people living together who are not related or in a relationship.

So, whether you’re a student or a professional sharer, there are rules to be observed – some official, some unofficial. And there is truth in the old saying “You don’t know anyone properly until you’ve lived with them.” From experience, I can tell you that having a mate who is great fun to go shopping or out on the town with is one thing, but sharing a property together is quite another, especially if you have different approaches to domestic bliss.

One of my earliest experiences of sharing was with a friend who, on the face of it, was ideal flatmate material. Always perfectly dressed with an immaculate manicure and blow-dry, I assumed she’d have a similar approach to housekeeping.

How wrong could I be?

Like a one-woman Hurricane Winnie, she could decimate a room in ten minutes. I haven’t seen such a talent before or since. Yes, she was a joy to be around, but her penchant for noisy nocturnal activities became a little too much – and that was only in the first week. By month two, she had developed her own ‘code’ for when she was entertaining at home: a bra hung on the front door. If I saw the lingerie on display, then I knew there was a fair chance I’d find her and some beau in flagrante delicto, either over the kitchen counter or on the lounge floor. Not quite the warm welcome I was expecting.

Clearly, when looking for a house share or advertising a room for rent it’s reasonable to outline a few ground rules to make sure all parties are on the same page. Otherwise, like me, you may just find yourself in a situation where you have to have that uncomfortable chat with your flatmate about her handcuffs being left on the dining table. Not great when my mother decided to drop in for an impromptu visit. And yes, dear reader, that really did happen.

If approached well, sharing a house or flat can be great – someone to go halves on the chores and split the bills with, and perhaps, if you’re lucky enough, to lend you clothing/money/a shoulder to cry on in a crisis.

So, how does one go about finding that elusive perfect flatmate? What are the golden dos and don’ts?

1. Where to look

Back in the good old days, finding a flat or house share usually meant scouring the classified section of your local paper or looking on the notice board in the local Post Office or newsagent. Trying to ascertain from a forty-word advert where exactly the property was, if it was habitable, and if you would actually want to share with the individual in question was a little tricky. Much time could be wasted visiting hovels that didn’t meet your expectations.

Now, however, life is easier. A plethora of websites – not dissimilar to online dating, one might suggest – are available that provide full details and photographs of countless properties, along with descriptions of potential flatmates. Those seeking a room can also post their profile and property criteria and await automatic matching.

The main sites, including www.spareroom.co.uk,
www.easyroommate.com and www.flatmaterooms.co.uk all work in a slightly different way, but generally it’s free to join, then you pay to upgrade in order to either enhance your profile (as a lodger) or property listing (as a landlord), as well as to access any advanced features. Expect to spend between twenty to forty quid, depending on how long you run your ad for. As it means that you are likely to find your next abode or lodger without leaving the comfort of your duvet or desk, I’d suggest it’s probably money well spent.

One thing I would mention though – don’t forget that everyone will be trying to portray themselves in the best light. So, for example, if someone’s profile says that they are a “light smoker”, on meeting them qualify exactly what that means. If you can’t stand the whiff of Marlboro Lights and think that two a week is an excessive habit, yet your potential flatmate has just cut down from seventy a day to fifty, that slight difference of opinion is going to become a wide gulf very quickly indeed.

By all means be honest about what you can and can’t tolerate – just be polite about it and don’t come across as judgemental. Also, be truthful about your budget in your profile; if you can afford to pay £500 a month, but that has to include all bills, say so. Better to be upfront so that you only look at rooms you can afford, rather than falling for a great room with someone you think you could really get on with, only to realise that you can’t afford it.

If you are placing an advert for a room that is available, above all make sure the photos you use are an honest representation to avoid wasting everyone’s time. No Photoshop or quirky Instagram filters here, thank you. If the room has an en-suite, or comes with secure off-road parking or any other unusual features such as a private balcony or a river view, take pictures of that as well.

If you employ a cleaner, and the rent covers a contribution towards the costs, that’s worth mentioning too. Most sites have features that show the location of the property in relation to transport links, as well as a form you can complete that shows how much the bills are etc.

Should this particular route feel a little too clinical (or scary) don’t forget the good old-fashioned ‘word of mouth’ method – for that read ‘Facebook’. Even a friend of a friend of a friend could have some kind of recommendation, and it’s some comfort, even if small, to know that the individual in question isn’t a complete stranger.

Better still, if they are on the worlds’ largest social network, you can even (within reason) have a bit of an online stalk to find out who else they know and what they get up to in their spare time. Don’t forget, though, the reverse also applies.

Top tip: Unless you know the person exceptionally well and socialise with them regularly, avoid sharing with someone you work with. Everyone needs time apart, and having to deal with the person who used all the hot water or bog roll that morning in the office doesn’t exactly make for a good professional relationship.

Also, the temptation to gossip to your co-workers about your flatmate’s bad habits or love life may prove irresistible, particularly if they’ve really hacked you off and you need to moan to someone. I speak from experience. Likewise, it’s not a great idea to take ‘humorous’ pic...

Table of contents

• Property UncoveredTrade secrets of a property expertLouisa Fletcher
• About the Author
• Acknowledgements
• Introduction
• 1.Fantastic Flatmates
• 2.The Realities of Renting
• 3.Financially Fabulous
• 4.Buying Your First Home
• 5.Sale Agreed
• 6.Virgin Landlords
• 7.Breaking Up is Hard to Do
• 8.Nightmare Neighbours
• 9.Adding Value
• 10.Moving Stories
• Au revoir
• Index