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Many landlords refuse to take tenants who plan to pay their rent using housing benefit. There are several reasons for this. Some landlords are worried about frequent government changes to housing benefit rules causing delays in payment, and there may be worries about what happens if a tenant loses their benefit for any reason.
Happy Landlords – The recent increase in the percentage of people renting rather than owning, and the resultant rising rents has meant that many tenants are more demanding of their landlords than they once were. Those who would have expected to buy in the past, but instead find themselves renting for the foreseeable future as the banks clamp down on credit, can be tougher customers than the students and short-term renters who once made up a higher percentage of the market. Keep them happy by […]
Why would anyone buy a house on a flood plain?
The recent downpour has caused severe flooding in many parts of the West and South West of England, and many people asking may very well ask the question: ‘why would you buy a house in an area you know is prone to flooding?’ Surely the knowledge of flood history (easily obtained) would put off any buyer in their right mind, especially considering that property prices are not much reduced as well as the fact that many […]
Homes and Gardens – When you become a landlord, your main concern is the bricks and mortar you are letting out. That’s unsurprising – that’s the main concern of tenants too. Outside space can often be a neglected afterthought, but it shouldn’t necessarily be that way. Outside space can add more value to your property than you might think, but it can also reduce its value and cause problems for tenants and neighbours if neglected.
Gardens as assets
A garden should be seen as an asset to […]
Decorating Your Rental Property – When you buy a new property to let, the chances are it will need a little TLC to get it looking its best and ready to rent out. The better your property looks inside, the more appealing it will be to your market, meaning higher rents and less risk of void periods. But does it all have to be magnolia walls and blue carpets? Or is there a little more room for invention?
Know your market
Tenants do generally want relatively neutral […]
Benefit Changes: Could they affect you? If you are a private landlord renting to tenants on housing benefit, you are likely to be affected by the government’s changes to the benefit system. Change is taking place that will mean that many tenants will find their benefits reduced, and that benefits will be paid to the tenant rather than directly to the landlord.
This could mean that tenants struggle to meet their rent payments. Landlords are already suffering from record levels of tenant arrears, with around 10% […]
Improve your house or pay off your mortgage? The Landlord’s dilemma.
Some of us find ourselves in the fortunate position of having a bit of spare cash to hand. Should you spend this spare cash on home improvements or paying off a portion of your mortgage thus reducing monthly payments? If money is a problem, you may want to consider none of these options and it may be best to save any spare cash you have should you need it at a later date for replacing […]
Reasons to Become a Landlord…and Reasons Not to
Being a landlord can mean many things. It can be a way of covering a mortgage on your own home, or it can be a full-time profession. Some people fall into becoming landlords through circumstances, while others set out to build their own property empire. However you get into it, being a landlord can be both frustrating and rewarding. How do you know if it’s for you? Read on for reasons why you should, and why you shouldn’t, […]
Should you become an Accidental Landlord?
With property prices stagnant, standard mortgages hard to get and property sales sluggish, many people turning to the private rental market when they need to find a home, rather than buying. But what do you do if you already own a home, and want to move? The answer for many is to become a so-called ‘accidental landlord’, letting their home while renting another. For those unable or unwilling to sell, it seems like the perfect housing solution. But is it […]
Retail landlords must be flexible -There are an increasing number of empty premises on high streets around the country, although figures are not clear or easily obtainable. There have been calls to government and the local authorities to do something about the situation, but is there anything that Landlords can do?
Tough times
The Olympics – Hopes of a boost in the economy with increased retail and tourism in and around London. It never happened. Boris Johnson, Mayor of London even acknowledged that Olympic retail figures were […]