BUMBLEBEE

Immigration Obligations For Landlords Feb 17 , 2022

Immigration regulations have a significant impact on private residential landlords and their agents. Landlords now have a legal duty to ensure that they do not rent their property to a tenant who does not have the right to live in the UK. As ever, ignorance of the law is no excuse for non-compliance, and this is just one of hundreds of regulations affecting

February 2022 Market Comment Feb 17 , 2022

It’s well known that confidence is key to a healthy property market. Or it used to be at least. The pandemic didn’t dent it – quite the opposite in fact, with the average house price having risen over 11% in the past year (Source: Nationwide). Could issues such as rapidly rising energy prices, an unstable government, uncertainty in the Ukraine, and esp

Gas - The Landlord's Responsibility Feb 10 , 2022

Whilst both gas and electricity can be lethal, from a landlord’s perspective, the law relating to gas safety is more stringent than it is for electricity with substantial fines or even imprisonment for of the breaches of the Gas Safety (Installation and Use) Regulations 1998. These regulations impose a duty on landlords to use a Gas Safe Registered enginee

Consents Feb 03 , 2022

For many homeowners, letting provides an obvious investment opportunity as an alternative to selling. With the right expert help from your letting agent, the matter should be quite straightforward, although there are certain consents that should be obtained if you are to avoid some potentially costly problems. You will certainly need the consent of your mo

Tenants Choose By Comparison Jan 27 , 2022

Typically, most tenants will look at about half a dozen properties before making a decision as to which one they should rent. Some people look at just a couple, and others spend months considering each and every one of the dozens of properties that come on the market within their price range. Even though many of those properties offered to a typical tenant

Burglary Jan 20 , 2022

We are occasionally asked who is responsible for any damage to a tenanted property as a result of vandalism or a burglary – landlord or tenant? Fortunately, such occurrences are rare in this area but it’s worth knowing in case the unthinkable happens. In principle, the landlord is usually responsible for repairing any damage done to the property that was

Manage Your Investment Jan 13 , 2022

Some landlords, especially those who are new to the experience, understandably wish to use a letting agent simply as a route to market in order to find a tenant. However, whilst a return on investment is one thing, sleeping well at night is quite another! A managed service is not just about chasing late rent, resolving disputes and inventory control. When y

January 2022 Market Comment Jan 13 , 2022

A year ago, we predicted that 2021 would not be able to sustain the 7.3% house price growth experienced in 2020. Even the most bullish economists predicted no more than a 4.5% increase for 2021, yet, according to the Nationwide, 2021 closed with a 10.8% increase in the average UK property price. Who’d have thought, during a severe pandemic, and as the ef

Bumblebee donates £5k to Live Unlimited Jan 12 , 2022

Just before Christmas last year, Bumblebee, The Barnet Group's private lettings agency donated £5,000 to Live Unlimited, the charity which helps Barnet's looked after children fulfil their dreams and aspirations.Live Unlimited creates new opportunities for this vulnerable group of young people, making them feel valued and valuable. They do this by taking th

Fair Wear and Tear Jan 06 , 2022

The terms “fair wear and tear” appears on most tenancy agreements. But what is fair to a landlord may not necessarily appear fair to a tenant, and vice versa. In general terms it is usually understood that fair wear and tear means that in regard to any apparent damage done to part of a landlord’s property, the landlord must take account of reasonable

Prefer to Rent Dec 30 , 2021

“Generation Rent” is becoming a deliberate lifestyle choice, not just a second-rate alternative to buying. Research by Direct Line Insurance suggests that 70% of the 12 million UK renters have no plans to purchase their own place. Certainly, raising the required 5%-10% deposit can be a huge stumbling block, but it appears that millennials, at least, hav

Let to Buy Dec 23 , 2021

“A Profitable Way to Secure Your New Home?” When the time comes to sell, there is usually a need for speed. Isn’t it always the case that the minute you start to think about selling, you see the ideal property you want to buy? The problem is that the chances of getting a chain-free sale on your own property to coincide with your dream purchase can som

December 2021 Market Comment Dec 17 , 2021

What an extraordinary year it’s been and it looks like 2021 will be recording a record number of transactions, despite the pandemic. The combination of Covid and Brexit, the Suez blockage and gas pipeline crises have all played their part in creating shortages and pushing up prices. And with inflation racing towards 5% there was talk of the Bank of England

Landlords Beware Dec 16 , 2021

Smart investors know that the buy-to-let market remains an exciting and lucrative investment opportunity. However, finding a tenant is only one aspect of the venture - which some landlords feel can be done independently of a lettings agency. However, we often hear sob stories from new landlords who tried to go it alone - with disastrous consequences. For ex

Buy to Let Update Dec 09 , 2021

The property market has historically been fuelled from below, with first time buyers paving the way for sellers to move onward and upward. However, the dramatic rise in property prices over the past decades, followed by mortgage funding difficulties have combined to mean that there has been a decline in the number of first time buyers able to get their fo

Buy to Let Pt2 Dec 02 , 2021

Our last article considered the benefits of buying to let in principle. Here we consider some practical elements: Attitude: Buying to let is a long-term investment. So don’t over-stretch yourself, because if you had to sell in the short term you would almost certainly lose money. Choose well: Follow your head not your heart. Take advice as to which

Buy to Let Pt1 Nov 25 , 2021

As pension funds shrink, many people consider the buy-to-let opportunity as a viable alternative, and with good reason. The effect of low interest rates and a historically rising property market make buy-to-let one of the most attractive investments accessible to the public. And the great thing is – you can use the bank’s money! The average national annu

The Professional Tenant Nov 18 , 2021

Many landlords have experienced great monthly yields from their student lets, but find that their properties are, by default, empty during summer. This can seriously dent annual yield by up to 25% Some landlords are content that the higher rents paid by sharing students go some way towards offsetting this hole in the balance sheet. Others seek to tie in stu

A Problem Tenant Nov 11 , 2021

According to the Department of the Environment about half of all landlords have had cause to ask a tenant to leave on at least one occasion, usually because of arrears, noise, damage, violence, or abusive behaviour. Around thirty percent of these end up having to go to court. When you let your property, you hope that your tenant will turn out to be the mode

November Market Comment Nov 11 , 2021

Here’s a quick overview of the property market this November. The manic race for space prompted by the SDLT concession has definitely started to ease and we are now experiencing a near-normal healthy property market, albeit with a little less stock than expected, because we have sold most of it! According to the Halifax, the average UK proper

Worth Sharing Nov 04 , 2021

Higher house prices and their associated rents have led to an increasing number of people choosing to share the cost of rental accommodation, and not just students or couples. From a landlord’s perspective this should be welcomed – two or more people become liable to look after the property and pay the rent, thereby halving your risk. A single tenant los

Why Sell? Oct 28 , 2021

"Why Sell? Let your Home Instead?" Due to the high demand for rental properties, a cultural shift has occurred over the past few years and many people are now consider letting out their property as a profitable alternative to selling it. Indeed, letting out your property has a number of advantages. Firstly, the value of a property is, in practical terms, ir

The Right People Oct 21 , 2021

Despite the fact that many people regard letting agents as more or less the same, there are in fact numerous selection criteria on which to judge the good from the bad, and the remarkable from the mildly indifferent. For example, there are many services and innovations which can make a difference to how effectively your property is offered for rental, and h

TD Insurance Worthless Oct 14 , 2021

When a tenant pays a deposit to a landlord or letting agent, the money must by law be “protected” against non-return at the end of the tenancy by one of two schemes –one custodial, and one insurance–based. Letting agencies and landlords choose which they prefer. The custodial scheme is government-operated and free of charge. Funds are fully protec

Getting Rentals Right Oct 07 , 2021

Just as anyone can open up an estate agency, so they can also start up a lettings business, without any training, experience or qualifications. This should concern landlords, because there is far more to the business than meets the eye. In some ways, finding a tenant is the easy bit! The issues arise over how selective the agency is when recommending a tena

The Meaning of Service Sep 30 , 2021

Most lettings agents see their role solely as a “purveyor of tenants”, and they pride themselves on their ability to find the right tenant for a property and to negotiate attractive terms for the landlord. But lettings agency has moved on. Indeed, finding a tenant is arguably one of the most straightforward aspects of letting a property. Wise landlords

Benefit of Pets Sep 23 , 2021

Why Let Your Property To A Pet Owner? Almost half the UK population own a pet, and this is rising fast post-pandemic! Yet many landlords are reluctant to accept pets! According to research by The Dogs Trust, some 78% of pet owners reported that they had experienced difficulty finding rented accommodation that would accept pets. However, if you are a landl

The New Landlord Sep 16 , 2021

Some would-be sellers are reluctant to sell their home in view of the high cost of moving, or selling for what they regard as too low a figure to enable them to fulfil their plans. Others may be moving abroad and don’t necessarily want to commit to selling their UK home just yet. Maybe you’re keen to move but don’t want to “cash-in” the investment

The Advertising Myth Sep 09 , 2021

It would be perfectly reasonable to assume that as your rental property comes to market, your letting agent will simply post the property details on various property portals and wait for the tenant enquiries to roll in. However, this approach is somewhat simplistic and we take a much more strategic and proactive approach to handling new tenant enquiries. T

Landlord Insurance Matters Sep 02 , 2021

It has been reported that one in eight landlords does not have landlord insurance! Whilst most landlords will of course have regular buildings insurance, covering subsidence, storm damage, flooding etc, some policies do not take account of a property being let. In fact, some insurance can be invalid if the insurer has either not been informed that the proper

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