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Tenant Tips     Dec 09 , 2020
If your tenancy is to work out well from day one, there are a few key guidelines you should follow: · Position yourself as a strong contender by having good references from previous landlords prepared in advance. · Make sure you agree with the inventory and condition report, then sign and date it to avoid any misunderstandings down the line.
Three Important Regulations for Landlords     Dec 02 , 2020
Whilst there are over one hundred pieces of legislation with which a letting agent should be familiar, three come particularly to mind when it comes to advising landlords about the basic responsibility they have to the safety of their tenants, as well as helping landlords avoid a £5,000 fine or six months in prison for non-compliance! 1. The Furniture and
Buying to Let     Nov 25 , 2020
Last week our article looked at 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 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. So take advice as to which pr
November Property Checklist     Nov 18 , 2020
Household emergencies generally occur during the depths of winter, but we recommend that landlords undertake a pre-winter checklist now to prevent unforeseen property headaches in the months to come. A tenant will often be less interested in preventative measures, but will of course complain if there is a problem – often too late and costly to remedy.
Eviction Not So Easy!     Nov 11 , 2020
A recent survey showed that 62 percent of Section 8 or Section 21 notices sent to tenants are incorrect, leaving their enforceability open to legal challenge. The study, by legal facilities company Landlord Action, suggests that most of the errors come from those landlords who chose to serve these notices themselves in an attempt to cut corners or save cos
The Case for Letting Your Home     Nov 04 , 2020
The tightening of the mortgage market has created opportunities for vendors who are understandably tempted to consider letting as a lucrative alternative to a sale. Despite the Help to Buy scheme, the dearth of mortgage availability has meant that fewer would-be purchasers are able actually to buy. They are therefore forced to rent if they cannot secure th
Guaranteed Rent     Oct 28 , 2020
Buy to Let has been a huge success story since specialist mortgages were introduced in 1996. According to research by Paragon Mortgages, had you invested at that time you would have seen a whopping 16.3% annual return on investment when considering the combination of both yield and capital appreciation. However, as rents continue to rise, landlords would b
Rent Arrears     Oct 21 , 2020
Apart from actually finding a tenant and agreeing the rent, the one headache about which many landlords are concerned is, “will the rent be paid – on time?” Many landlords have stretched themselves in order to purchase a buy-to-let investment and even one month’s rent in arrears can put strain on the finances as mortgage payments, insurance etc still
"Something in the air?"     Oct 14 , 2020
Why is it that tenanted properties appear to be damper than those that are owner-occupied? Firstly, we’re talking about condensation here, not rising damp. Condensation is caused when warm air, which holds more water vapour, meets a cold surface, forming water droplets. This may attract fungal growths such as Mildew leading that “that damp smell”. Te
The Right To Rent     Oct 07 , 2020
Immigration legislation means that all private landlords have to check that new tenants have the right to be in the UK before renting a property, although this responsibility can be given to your letting agent as part of a written agreement. The penalties for ignoring the new legislation are severe. For the first time an agent/landlord breaches the rules, a
Stamp Duty on Investment Property     Sep 30 , 2020
Good news for investors! The SDLT concession introduced on 8th July 2020 also applies to you – up to a point! This means that there is no standard Stamp Duty Land Tax (SDLT) on the first £500,000 of any purchase! Hurray! However, if you’re buying a second home, Buy to Let, or investment property, you should be aware that the additional “second ho
Keep Your Tenant Part 2     Sep 23 , 2020
In this second part of our two-part series on how to keep maximise your rental yield by ensuring that your tenants stay – thereby avoiding any possible void periods or additional expense in seeking a new tenant. One of the main reasons why people move out is because they just don’t feel they belong. So does your letting agent make your tenant feel that
Keep Your Tenant Part 1     Sep 16 , 2020
A buy to let investment should ideally deliver impressive returns with minimal stress and these two objectives are most readily maximised when your property is occupied by a reliable long term tenant. Too many letting agents simply sign up the first tenant who comes along, with little consideration for the long term implications of accepting the wrong tenant
Courteous Tenant     Sep 09 , 2020
Most people move to a new house rarely and often have little idea of the etiquette required if the stress of moving is to be minimised. Our job as progressive letting agents is to help landlords and tenants minimise this stress by seeing the world through each other’s eyes and advising accordingly. For example, landlords, especially those who are currentl
Landlords... More     Sep 02 , 2020
An overview of the top 10 issues affecting residential landlords – Part 2 1. Safety requirementsLandlords should ensure that the property meets all current safety regulations including Gas, Electrical and Fire and all privately rented properties must have a working smoke alarm on each floor, with carbon monoxide alarms in any rooms that are classed as
Landlords... Did you know?     Aug 26 , 2020
An overview of the top 10 issues affecting residential landlords – Part 1 1. Tenants can report your property if it is below standardLandlords have a legal duty under Section 11 of the Landlord and Tenant Act 1985 to ensure that the property is maintained in a habitable condition (unless any failure in this is caused by the tenant). In the event of eg,
Happy Landlords     Aug 19 , 2020
A recent survey of over 500 residential landlords reports that landlords are overwhelmingly satisfied with the service they receive from their letting agent and find them an invaluable resource. Some 92% of landlords reported a positive experience with their letting agent. The market for lettings is of course relatively buoyant that the moment and a
Changing the Locks     Aug 12 , 2020
As a landlord, it would not be unreasonable to expect to hold a key. After all, you do own the place, so why not! However, what happens if the tenant changes the locks, and are they actually allowed to do this? Perhaps surprisingly the answer is yes, they are. It may be they lost the keys, had an attempted break-in, felt vulnerable or simply the lock was
Landlord Types     Aug 05 , 2020
The archetypal multi-property “professional” landlord probably only accounts for about half of all landlords. The rest come in all shapes and sizes. Which of the following are you? 1. The Accidental landlord This is a homeowner who would ideally have sold, but has decided to rent instead. Perhaps the market is not strong enough to
Students     Jul 29 , 2020
Students are an excellent prospect for landlords wishing to maximise their return on investment. They are in ample supply, meaning an almost certain let, a greater choice of tenant and fewer void periods. Reliable student loans and parental guarantees mean that students are also less likely to default than they were in the past. But there are certa
Pet Let     Jul 22 , 2020
The Labour Party recently unveiled a draft animal welfare policy, including the legal right for tenants to keep a pet in their rented property. With over 12 million pet owners in the UK, this is possibly an opportunity that landlords should have grasped sooner, as there are several benefits to letting a property to a pet-loving tenant: 1. A pet owner
Summer Rental Push     Jul 15 , 2020
The end of the holiday season usually prompts great activity in the rental market and landlords should not only be prepared for this, but also take advantage of it. The summer holiday not only marks the end of the school year, but also the end of a time of employment, with many people handing in their notice immediately before leaving for their
July 2020 Market Comment     Jul 09 , 2020
Finally, after the pent-up frustrations of lockdown, we have some very good news to report: Firstly, the Chancellor of the Exchequer, Rishi Sunak, has announced a substantial boost for the housing market with the raising of the SDLT (Stamp Duty) threshold from £125,000 to £500,000. This really is quite incredible and will save buyers
Kitchens for Tenants     Jul 08 , 2020
Over the years the kitchen has evolved from a utilitarian workspace to a fundamental heart of the home. It often enhances open plan living areas so that couples and families can interact between preparing food, working at a desk or watching TV. And just as homebuyers are impressed by a good kitchen, so are tenants too, with a recent survey sugg
Protection your Rent... and your Investment     Jul 01 , 2020
Following the prosecution of a number of unscrupulous letting agents who mysteriously ceased trading holding many thousands of pounds in client monies, it is now a legal requirement that letting agents subscribe to a Client Money Protection Scheme. For the protection of our clients, we subscribed to such a scheme long before it was a legal requirement.
Tenant Decoration     Jun 24 , 2020
Tenants often ask if their landlord will allow them to redecorate the property. On the surface, this is a reasonable question and should generally not send alarm bells ringing in the landlord’s ear. Firstly, if the tenant wishes to redecorate, this suggests that they possibly have a long-term outlook. As rentals become a mainstream form of
Clean is Good     Jun 17 , 2020
According to the Tenancy Deposit Scheme (TDS), cleaning accounts for 56% of deposit disputes and there has recently been a sharp rise in the number of properties that require professional cleaning services at check-out. Pat Barber, Chair of the Association of Independent Inventory Clerks commented that "there is a general lack of respect for property
Tenants Help Us!     Jun 10 , 2020
Letting agents love the challenge of helping you find your ideal home. Sometimes however, it can be more of a challenge than need be. So if you are looking to rent a property, here are a few guidelines that will really help us to help you: Turn up for viewings at the agreed time. We use our knowledge and experience to calculate how long a viewing tak
June 2020 Market Comment     Jun 09 , 2020
It might be tempting to believe that the pandemic has been destructive and all-consuming on all fronts, especially in relation to the property market, which virtually ground to a halt a few weeks ago. But we British are a resilient lot! Our compliant “keep calm and carry on” mentality has meant that we have/continue to
The Critical Importance of Referencing     Jun 03 , 2020
In an ideal world, once a tenant has been found, it would be good to think that you, as a landlord, can simply sit back and watch your investment deliver the anticipated return on investment without further involvement. Indeed, this is one of the reasons why some letting agents only offer a tenant finding service. Simple really – or is it? Experience is
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