Being a landlord is something that works well for many people. But, even when it works well, its not an easy job to do. There’s a lot to consider, manage and keep on top of. Plus, you really need to be good with people.
Some people like to deal with the letting and management of their rental properties themselves, while others prefer to let an agency handle the practicalities.
When a Landlord visits their properties, they should always be prepared for any situation that may occur or need any documentation. This is especially important for routine inspections and for a check out inspection if a Tenant is leaving the property. It ensures that any problems can be dealt with instantly and not forgotten.
The Enterprise and Regulatory Reform Act 2013 is one of those lengthy pieces of legislation that scoops up a great deal of unsatisfactory or outdated stuff from various sectors and seeks to iron it out a bit. It covers everything from employment and competition law to the abolition of the Agricultural Wages Board, and even contains sections aimed at simplifying the processes for maintaining listed buildings.
Inspections are a word that can sometimes strike fear into the hearts of both tenants and Agents/Landlords. However, they are a formality that should be carried out in the interest of both parties for different reasons and shouldn’t always be seen as something negative. What should also be known is that there are differences to the types of inspections which are carried out in rental properties for the start, duration and end of a tenancy. Here is a list of a few and the differences between them:
It’s the end of a tenancy and the property has been damaged, so how do you arrive at a compensation figure that will be accepted by the tenant and deposit protection agency?
Do you know the industry formula used by letting agents & professional property managers to work out compensation? It’s a mix of wear and tear, initial condition, final condition, tenant damage and common sense.
If you’re a new landlord, you might find yourself feeling overwhelmed by the amount of work and detail involved in managing your buy-to-let investment. Even experienced landlords often wish they had more free time, and may have had negative experiences of letting agents who made business more complicated in the past.
There have been a number of changes over the past couple of years that have affected landlords particularly with regards to taxation on income.
However, the government is also tightening up in other areas, and stricter mortgage rules are one of them.
What is meant by the term unreasonable tenants? It doesn’t mean ones that don’t pay their rent, or that cause damage to the property, they are dealt with under very clear powers.
If you’re thinking of letting out a property, you probably have a list of things to get to grips with – and perhaps a list of worries too! It’s natural to feel anxious when embarking on a new venture, and letting out property is both investment and business, so there’s plenty to do.
Buy-to-let has always been an accessible way to invest with potential for short and long term returns, but managing a rental property seems to become more complicated every year. For many people, the idea of being a landlord directly responsible for tenants is overwhelming, but others relish the idea of getting stuck in to their own business.
At Ezylet, we understand that whether you have one property or a larger portfolio, being a Landlord can be stressful with a lot to think about. We pride ourselves on looking out for Landlords, helping to streamline the rental process by providing a one-stop shop where you can advertise your property, obtain mortgage insurance quotes and even find the right tenant for your property.
As a landlord looking for tenants, you have two options: find tenants yourself, or use the services of a letting agent.
It's well-known that leasehold properties come with additional restrictions and burdens that don’t apply to freehold houses but, as a landlord and investor, there are some additional things you need to be aware of and consider before making a leasehold purchase.
It’s a good question, as there are varying answers and getting it wrong could cost you dearly.
The life of a Buy-to-Let Landlord is not easy! There are so many details that need handling and additional problems could crop up at any time. With so much going on, it can be difficult to keep on top of all your properties and tenants, while also ensuring your property portfolio is working as hard for you as it should be.
Because housing policy in the UK has been devolved to the governments of each country, we are in a situation where England, Wales, Scotland and Northern Ireland have different rules on who can legally let and manage a property.