You’ve found your dream property and you can already picture yourself living there. But first, you have to actually carry out the big move. This can be a stressful time, but you can make it easier by planning properly. Here are 10 things to consider before you make the actual move.
This is the last in our series looking at targeting specific types of tenants for your property. We've looked at young professionals, tenants on LHA, students and families, and the last group we'll consider is single tenants. So here is what you need to know when targeting singletons.
When it comes to choosing which tenants to target for your property, tenants on housing benefit (or LHA, which stands for Local Housing Allowance) are often not the first choice.
It’s an old joke, especially in city centre locations. Someone posts a picture of one of those little tents that utilities firms put over holes in the pavement. ‘Room for rent’, they write underneath. ‘Central London location, £500 pcm.’
When it comes to the health and safety aspects of your rental property, some things are more likely to keep you awake at night than others. Chief among these are gas, electricity, and above all, fire.
The Freedom of Information Act 2000 is all about transparency for public bodies. The idea is that, since taxpaying members of the public fund our councils, government departments and public services, we should be able to find out what they’re spending it on.
An HMO, which stands for a House in Multiple Occupation, is a legal term used to define a specific type of rental property. If you run an HMO, you have certain responsibilities that you must meet. However, some landlords may be running an HMO without realising it. Here’s a guide to what an HMO is and what you need to do if you are running one.
For landlords, houses in multiple occupation can sometimes be a bit difficult to get your head round. You’d think that any property with more than one person living in it was in multiple occupation, and in a literal sense that’s true, but actually ‘house in multiple occupation’ is a technical term with a specific definition relating to rental properties.
Landlords have had a hard time over the last few years. Lots of new regulations and tax measures have been introduced, and these have had a big impact on the profits that landlords are able to make from their properties.
For many landlords, the electrical safety of their properties is a source of unending confusion. Letting agents, councils, electricians and other landlords will all give you advice, but it doesn’t always match up. Mainly that’s because the rules are a bit vague, but it’s also because many of the groups above have their own agendas, with different interpretations of what’s legal, what’s moral, what’s best practice and what’s practical.
New Government rules on Homes of Multiple Occupation, or HMOs, came into force on October 1st. They update the existing HMO licensing rules and mean that around an additional 160,000 rental properties could now require an HMO license.
There were two key HMO legislation changes that came into force on 1st October last year:
Chances are that if the term ‘house in multiple occupation’ (HMO) means anything to you at all, it probably conjures up an image of a shonky converted back-to-back in a university city, housing eight undergraduates in a modest terraced property originally designed for a family of four.
If you’re wondering where the best locations are for commuting into London, the cost of public transport will be a key factor as well as your rent. So here are a few suggestions to give you an idea of prices – hopefully there’ll be something here that sparks your interest.
Now that councils have the power to issue civil penalties of up to £30,000, not to mention take you to court and issue banning orders, it’s vital you stay on the right side of the law. While many councils are hampered in their enforcement efforts by a lack of resources, those that are able to find and penalise rogue landlords are certainly doing so.
An HMO landlord in Richmond upon Thames has recently won a case against his local council that could have a big impact on the industry – specifically on how much councils charge for licences.
In the latest part of the Government’s wider plan to improve the UK’s private rented sector, it has been confirmed that five-year electrical safety checks will soon be required for all rented homes. House of Multiple Occupation (HMOs) are already subject to this rule. However, following a consultation and parliamentary debate, it has been agreed all rental homes will require official, electrical safety checks, also on a five-year basis.
As a consequence of the European Union Directive on Energy Efficiency, updated in 2012, brought into statute through the Heat Network (Metering and Billing) Regulations 2014 mean that HMO tenants will be able to view and take note of their energy usage.
A report on trends in the buy-to-let sector during the last quarter has revealed that landlord portfolios have expanded slightly in the past year, especially among those who already have larger numbers of properties.
Figures show that HMOs (Houses in Multiple Occupancy) are now the second largest rental sector in the UK with some 4.3 million households taking advantage of this low cost housing option, including many visitors from overseas. Although HMOs are a smart solution for many, they are open to abuse and, the police authority is now calling for information sharing to help keep tabs on this growing sector.