Peacehaven, with its beautiful coastline and relaxed vibe, is quickly becoming a go-to spot for renters who want a bit of peace without being too far from the action in Brighton. For landlords, this is great news! Whether you’re new to the rental game or looking to expand your portfolio, there’s a lot to consider when it comes to making the most of Peacehaven’s rental market.
As a small, friendly property agency that knows Peacehaven like the back of our hand, we’ve put together this easy-to-follow guide to help you navigate the market and keep your rental business thriving.
1. Know Your Rental Market
The first step in renting out your property or choosing a rental property to buy is understanding what type of homes people are looking for in Peacehaven. This area tends to attract a mix of families, professionals who commute to Brighton or London, and retirees looking for a quieter life by the sea.
What Renters Are After:
- Family homes: Spacious houses with gardens are always popular with families.
- Flats: Flats and apartments close to the beach or with sea views are a hit with young professionals and couples.
- Bungalows: Many older renters prefer one-story living, so bungalows are in high demand, especially with Peacehaven’s older population.
By knowing what’s in demand, you can make smarter decisions about what kind of property to rent out or invest in.
2. Setting the Right Rent
Peacehaven is more affordable than its bigger neighbours like Brighton, which makes it attractive to renters. But to stand out in the market, it’s important to price your property just right. Price it too high, and you might struggle to find tenants. Price it too low, and you could be leaving money on the table.
Key Things to Think About:
- Location: Homes with a sea view or those close to local amenities (think schools, shops, and transport links) can command higher rents.
- Condition: A well-maintained, modern property will always fetch a better price. If you can, invest in updates like new kitchens, modern bathrooms, or energy-efficient heating. Renters are willing to pay more for a place that’s move-in ready.
It’s a good idea to check what similar properties are renting for on sites like Rightmove or Zoopla so you can gauge a fair price.
3. Staying Legal
As we have talked about in our previous post about the benefits of a managing agent, keeping up with the constant changing legalities and requirements as a landlord is essential to staying on top of your legal obligations. It might sound a bit daunting, but as long as you stay organised, it’s straightforward.
What You’ll Need:
- Gas Safety Certificate: An annual check to ensure all gas appliances are safe.
- Electrical Safety: You need to ensure your property’s electrics are up to standard.
- Energy Performance Certificate (EPC): Your property needs an EPC rating of ‘E’ or higher to be rented out.
- Deposit Protection: Any deposit you take from tenants must be secured in a government-approved scheme.
- Right to Rent: You’re legally required to check that your tenants have the right to rent in the UK.
Don’t worry, it sounds like a lot, but keeping up with these legalities will save you trouble in the long run and ensure you’re running a legit rental business.
4. Managing Your Property: DIY or Letting Agent?
Deciding whether to manage your rental yourself or hand it over to a letting agent is a big decision.
Doing It Yourself
If you live nearby and don’t mind getting stuck in, managing the property yourself can save you on fees. But bear in mind, you’ll be the one tenants call if something breaks or needs fixing, and you’ll need to stay on top of legal stuff.
Using a Letting Agent
If you’d prefer a more hands-off approach, hiring a letting agent could be the way to go. They’ll handle everything—from finding tenants and collecting rent to managing maintenance and legal requirements.
5. Maintenance Matters
One of the keys to keeping tenants happy (and holding onto them) is making sure your property is well-maintained. Peacehaven’s coastal location means your property might need a little extra TLC, especially when it comes to things like windows and outdoor spaces, which can wear down more quickly because of the sea air.
Top Tips for Maintenance:
- Regular Inspections: Check your property regularly to catch any issues before they become big (and expensive).
- Weatherproofing: Use good-quality materials for outdoor repairs and consider weatherproof paint or finishes to protect your property from the elements.
- Energy Efficiency: Tenants love a home that’s energy-efficient. Consider upgrades like double glazing and insulation, which can also help you charge a bit more rent.
6. Keeping Tenants Happy
At the end of the day, happy tenants are good for business. They’re more likely to stay long-term, take care of your property, and renew their tenancy. Simple things like being responsive to maintenance requests, keeping lines of communication open, and being reasonable when it comes to negotiating tenancy renewals can make a big difference.
Final Thoughts
Peacehaven’s rental market is full of potential, whether you’re renting out a family home, a seaside flat, or a bungalow. By understanding the local market, pricing your property right, and staying on top of legal and maintenance responsibilities, you’ll set yourself up for success.
We’re always here to help if you’ve got any questions or need advice—after all, we’re a small, family-run friendly agency that has been working with local landlords for over 50 years!
