It's a dilemma faced by accidental landlords, portfolio builders and those looking for investment opportunities. Once the first property is occupied and producing income should I buy another? It's not an easy question to answer. Not least because every landlord's circumstances are different.
Most landlords will ask a tenant for references. It's an obvious safeguard. After all, this person is going to be living in your rental property. An asset you have invested heavily in. You need to know something about their background, financial position, and character. You need to know they can afford the rent and that they will look after your property.
The dilemma of whether to accept tenants on housing benefit is one which many landlords struggle with. Others resolutely refuse to do so whilst some landlords welcome DSS tenants. As with anything, there are arguments for and against. But to help you decide whether you should rent to tenants on housing benefit we have listed the pros and cons below.
Everyone who owns a rental property knows that the last few months of the year can be quiet and whilst there is always a surge in the number of people looking for property at the start of the year, they can often be looking to move later, all so they have that one month’s extra rent in their back pocket. So how do you go about letting a property in winter?
Landlords have taken a few hits in the recent past. Both in financial and regulatory terms. The reduction in mortgage tax relief and a rise in interest rates hit many landlords in the pocket. Regulations and red tape increased with minimum energy efficiency standards and selective licensing.
MakeUrMove is a fully endorsed Safe Agent, which means we protect landlords and tenants money through client money protection schemes.
Rogue letting agents have been in the news recently. The Mayor of London recently set up a public database naming and shaming the capitals worst letting agents. And the government have also announced proposals to set up a licensing system to expose rogue letting agents.
UK house prices rose fast to conclude the third quarter of 2017, with average house prices estimated by The Guardian to be at £225,109. The 4% growth, spearheaded by the north, East Midlands, and the northwest, was felt the least in London. In fact, the capital recorded the weakest performance at 2.6%. Nonetheless, the overall market ended the year at £8.3 trillion after 3.5% growth, defying both Brexit-related uncertainties and a general slowdown in the southeast and the capital.
The answer to do: "I need landlord insurance" is probably yes, and no. There are no legal requirements (yet) for you to take out a specialist landlord insurance policy. However, there are many reasons why yes you should take out a policy.
London Mayor Sadiq Khan has launched the country's first 'name and shame' database of rogue landlords. The Rogue Landlord and Agent Checker is an online database available to the public. It contains information from 10 London boroughs with more coming on stream in the coming weeks.
When your tenants go on holiday your rental property can become vulnerable. By maintaining good communications with your tenants you can help them, help you, protect your rental property and their possessions.
Whilst it may be quieter over the festive period, now is an ideal time to check your property listing is up to date.
