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One of the biggest concerns for most landlords is that they will not be able to fill their property with paying tenants every month. Guaranteed rent services can be an attractive option, especially for those who have had difficulty letting their properties in the past, or who have had to deal with non-payers. But can they really be cost-effective, or are they more likely to cost landlords money than to help them?
Inspecting properties is part of a landlord’s job that most dread, and if it isn’t arranged properly the relationship between you and your tenants could deteriorate remarkably quickly. Unfortunately, the only way you can be sure your properties are being properly taken care of is to inspect them yourself every now and again, so what’s the best way of going about it?
News reports showing floodwater tear through homes have become so commonplace in the last few years that it is getting easier and easier to ignore them. When something seems to happen often, we tend to stop being concerned about it.
But if you own property you cannot afford to stop being concerned about flooding. Millions of homes in the UK are built on floodplains. Other properties are also at risk from flooding, as flash-floods can strike anywhere.
Unless your property is a tree house, the answer to […]
New Landlords – Buying your first property is a milestone, and those who have already passed it will remember the combined feelings of excitement and anxiety. The prospect of buying a property is exciting and opens up all sorts of opportunities for the future. It’s the beginning of a portfolio and if managed properly, a profitable empire. There are however a lot of questions to be asked when purchasing a new property. Here are a few tips to help first-time Landlords with their acquisition.
The much-talked about bedroom tax will come into effect this April. Those against it say that it will leave already struggling families homeless or in debt. Those in favour of it say that it is necessary if we are to reduce the housing benefit bill to a more manageable level than it is now.
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.
Here are the top five questions asked by property investors and Landlords, and here are the answers:
5. How can property management help me?
Landlords can really benefit from the services of a property management agent. The agent will have a lot of experience and information, as well as helping set up buy-to-let schemes, getting reliable tenants as well as organizing viewings. Getting a property management agent costs a small fee, but it is worth it and will make life a lot easier.
HMO Landlord – HMO’s, or Houses in Multiple Occupation
Some may see this as being an easy way to make money in the lettings business. It is true that the profits made on HMO’s tend to be higher than the profits made on other types of property? The average rental yield on HMO’s is around 11%, compared to an average of around 6-7% for standard lettings. That doesn’t mean, however, that HMO letting is easy.
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 […]
Utilities being cut off – It’s a phenomenon that many of us will have considered, but few have actually had this happen to them. Many months of unpaid bills; letters from water companies, then suddenly a call from your tenants saying they have no water. Having your water cut off can be more than just a nuisance. What can you do to rectify the situation where tenants are not paying their bills?