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Posts Tagged ‘landlords’

Do the job right

Tuesday, August 31st, 2010

As any landlord knows keeping ones property in good condition is of the utmost importance. It is great to get cheap landlord insurance but the premiums will soon go up if a series of claims are made.

There are always lots of little jobs that need doing and often outside jobs get ignored in favour of little niggles pinpointed by tenants on the inside. It is really important to maintain the outside of the building not just to protect the integrity of the property but to ensure the place retains as much kerb appeal as possible.

When getting round to the outside jobs it is necessary to ensure that the work is carried out correctly and to a good standard, if this can’t be achieved using one’s own skills then it is time to call in a professional. Don’t jeopardise the rental capabilities of the home by doing a poor job, saving pennies in this way can cost you pounds.

A job where this can easily apply is painting a door. A simple enough job it would seem and one that will greatly benefit the appearance of any home, a fresh lick of paint really can work wonders. It is however, important to carry out the job correctly.

First of all iron out any problems the door may have before starting the job. A door that requires painting can often indicate a door that has not been maintained correctly. For instance if the door is tight and difficult to open or close then a couple of coats of paint can make a real difference. A tight door can become a door that is almost impossible to operate without using brute strength and before you realise where the problem is, you have cracked or broken a pane of glass trying to open it. If a door is tight examine it well, it could be the door has swollen slightly and needs planing. It could well be the door mechanism at fault, the screws in the strike box could have become loose and obstruct the door slightly.

Once the door is prepared for painting it is a good idea to take the door of its hinges and carry out the job in a well ventilated space under cover. Use protective clothing where required for a painting job, eye protection, overalls and light gloves should all be worn. If using a spray gun to paint the door then a face mask must be used.

The painting of the door itself really is simple, take your time to cover any glass in the door or any other parts that don’t require paint and apply the paint carefully, making sure the you get an even coverage. The paint tin will give details on how long a time is required between coats.

Tags: Advice, DIY, landlord advice, landlords, Landlords Insurance, Property
Posted in Advice, DIY, Help, Landlords Insurance | No Comments »

Rush for university lets imminent

Tuesday, August 17th, 2010

With A-level results out later this week, landlords in many of the UK’s provincial towns and cities as well as the capital will be anticipating a new influx of tenants.

It is expected once again that the pass rate for A-levels will supersede anything previously seen and with it a rush for university places. It may well also precipitate a rush in quotes for cheap landlord insurance. Although it is most certainly wrong to tar everyone with the same brush, it would be a foolhardy landlord who did not secure landlord insurance for properties housing students.

Very often the teenagers are away from home for the first time and are embarking on a steep learning curve not only in education, but also in the art of caring for oneself and their belongings. They will encounter problems that have always been sorted by their parents and will be doing household chores and using household implements that simply were not in their domain before.

Accidents will happen and with it damage to properties. A tap left running can not only cause flood damage to the room in question, but there is the added danger of the water finding its way downstairs causing damage to the room below, which may well be used by another student in the same house. It is a common site in student halls of residence to see the fire brigade on call. Usually because a smoke alarm has been activated by an unsuspecting student not yet versed in the art of cooking or the geography of their new flat.

It will pay a landlord great dividends to welcome and support his new tenants in whatever way he can. Time spent with the students in the first few weeks of their tenancy can go a long way to building up a good relationship with customers, who could well be renting the property for at least 3 years. Take time to explain the kitchen, the heating system and the plumbing. Any good landlord will have ensured all safety requirements are met anyway, but go to great lengths to explain fire rules and how electrical appliances work. It will also help to meet parents, they will take comfort in the knowledge that their fledglings are in the hands of a good landlord and remember there is often a younger sibling who will be looking for rooms a couple of years hence.

Tags: Advice, landlords, Landlords Insurance, Students
Posted in Advice, Landlords Insurance, Students | No Comments »

Minister urged to consider landlords

Tuesday, August 3rd, 2010

Landlords look set to endure more months of uncertainty in the law regarding “Homes of Multiple Occupation” (HMO) as new Housing Minister, Grant Shapps, seems to be complicating the issue further in his attempts to reshape the regulations surrounding multiple occupations.

The Minister has decided to scrap the present rule, introduced earlier this year which, to most landlords consternation, required local planning permission to change the rental status of the property if the tenants were renting as a group as opposed to a family. This was a bid by the last Labour Government to restrict the number of small houses used for multiple occupations, in a bid to stop friction in local communities where large numbers of students affected the local population and the services in it.

In an attempt to unburden the industry from unnecessary legislation Mr Shapps has announced the old laws will be repealed on October 1st but crucially, he has decided to allow local councils to apply the old rules in certain areas where they perceive a problem with HMO’s. A decision which will leave landlords in a confused situation in many cases. A landlord could quite possibly rent a house to a young couple, who would be described as a family unit; they could then decide to bring in a lodger to help with the rent. Would the landlord then be letting an HMO and what would the circumstances be with his landlord insurance?

The Residential Landlords Association has taken up the case for its members pointing out many anomalies with the proposals and campaigning for changes to clarify the situation. They believe changing the number of occupants in a house to be described as a HMO be raised from 3 to 5 and also any residential property,  be allowed to let as shared accommodation or family without the need for separate planning permission.

In a period where local councils are turning more and more for help from private landlords to alleviate the severe demand for housing then it is to be hoped that the matter is resolved in a manner that is conducive to all.

Tags: Landlord Insurance, landlords, renting, Residential Landlords Association
Posted in Advice, Insurance Guides, Landlords Insurance | No Comments »

Low interest rates here to stay?

Wednesday, July 28th, 2010

With the latest predictions of low interest rates being with us for years to come, landlords will be wondering what exactly the future holds for the residential letting sector.

Ernst and Young, a leading UK economist group and sole sponsors of the Independent Treasury Economic Model (ITEM) club, are predicting the current Bank Rate of 0.5% will be staying with us until 2014.  The prediction is based on the present government holding firm on its commitment to spending cuts of around £40 billion and the loss of jobs that will go with it.

Although inflation is still way above the Government targets of 2% and the end of year increase in VAT threatening to push it higher still, the group feel the spending cuts will then kick in and push inflation closer to 2%. A relief then for the Governor of the Bank of England who will then be able to stop writing letters to the Chancellor of the Exchequer explaining exactly why inflation is above government plans. Not for long though, as interest rates will then have to stay low to stop the nation slipping into deflation.

With interest rates staying low and new borrowing rates remaining high, one can only anticipate home-owners without a big deposit will stay exactly where they are. Several mortgage brokers are reporting a good increase in loan enquiries but from personal experience, a lot of these enquiries will fall by the wayside when prospective home-buyers realise the interest rate on a new loan will be much higher, compared to the tracker mortgages they already have. This perhaps is confirmed by reports showing a fall in prospective buyers registering with agencies.

The result could well be house prices start to slide again; already one report is showing prices have fallen for the first time in over 12 months, Hometrack, the property data company, reported a 0.1% fall in June. If that is the case then the buoyant rental market could be here for some time yet, giving ambitious landlords, with an eye for a bargain, more reason to spend time looking for cheap landlord insurance to cover new properties they are willing to invest in.

Tags: Interest rates, Landlord Insurance, landlords, rental market, tenants
Posted in Advice, Interest rates, Landlords Insurance, Rent Guarantee Insurance | No Comments »

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