Private landlords must look at budget announcements with dread. In recent years the chancellor's battered red briefcase has held some nasty surprises. Cuts to mortgage interest relief and the loss of the wear and tear allowance just two recent hammer blows felt by landlords. Changes to stamp duty were an even bitterer pill to swallow. That knocked the stuffing out of many private landlords.
There's nothing worse to a private landlord than an empty property. Void periods hurt you financially. After all there's no rent coming in and you still have your expenses to pay. But the only way to reduce void periods is to let your property as quickly as possible.
The Landlord Investment Shows are a series of events that take place across the U.K. each year.
Many private landlords won't let their properties to tenants on benefits. They believe it's too big a risk. That the tenants won't be able to keep up with their rent. But there are other reasons too why many landlords are reluctant to let to tenants claiming housing benefits.
Being a successful landlord depends on many different factors. Finding the right property and attracting good tenants who pay the rent on time are two of the most important. You can add to that the rent you're able to charge, the overheads you have and keeping void periods to a minimum. All pretty straightforward.
Today, we hear from a well known face of the industry - Paul Shamplina, founder of Landlord Action, author, and TV Presenter for Channel 5.
So you want to be a landlord? It seems a pretty easy business to get into. And you can make a living. Sometimes even a good one. But it isn't quite as easy as hanging a 'To Let' sign in the front garden and waiting for a tenant with pocketfuls of cash to come knocking on your door.
It's an issue private landlords see quite often. Two or more people move into a property and are happy to sign a joint tenancy agreement. All goes well until suddenly one of the tenants decides they want to leave before the end of the fixed term. This obviously causes problems. Especially if the other tenant(s) wishes to stay in the property. But what do you the landlord do when this happens? What's the situation with the tenancy? And the remaining tenants?
To advertise on Primelocation private landlords must engage a letting agency. PrimeLocation is one of the UK's most popular property portals. It lists thousands of rentals from all around the country and receives 5,000,000 visits every month from people looking for their next home. It's the ideal place to advertise your property if you want to find a tenant fast.
Housing associations have called for £42bn from the government to build new social housing.
Once a tenant moves into your property it's tempting to think you're in for a carefree six months. The tenant will be as a nice a person as they seem and will respect and look after their new home. Above all you hope the rent money will arrive in full and on schedule.
Most assured shorthold tenancies have a fixed term of six or twelve months. There are always exceptions of course but most tenancies will fit into that bracket. The tenancy agreement will specify the length of the fixed term. What happens at the end of that fixed term depends on whether the tenant moves out or remains in the property.
