9:30 AM, 1st January 2013, About 10 years ago 2
Here at Property118 we constantly share ideas to help UK Landlords to reduce your costs and maximise your returns. These are our austerity tips for 2013, each section is linked to the relevant page of our website where you can find out more and make contact with the providers of products and services we currently recommend. Links are in slightly larger bold text, blue in colour and underlined.
By visiting the linked pages you will be able to complete short forms to make contact with each service or product provider.
Yes, landlords in England and Wales really can advertise properties to let using Rightmove, Zoopla, Prime Location, Find A Property and many more property portals without paying. The online letting agent providing this service makes money by charging tenants for referencing. If you prefer you can pay a fee of £49.95 plus VAT and do your own referencing.
Rental income less mortgage interest does not = profit. There are several other expenses to factor in too such as insurance, maintenance, void periods, ground rents, services charges etc. Do you know what percentage of your rental income is taken up by these costs and what you could do to improve the position? Do you know what interest rates will need to rise to for your property portfolio to break even? This simple Microsoft Excel spreadsheet will answer these questions and more.
One of the best ways to pick up a bargain is to buy property at auction. You will need to do your due diligence though so please read this guide to buying property at auction if this is new to you. Would you like to know how much properties in your target location are selling for at auctions? Would you like to know which properties are going to auction in your target location and from which auction house? This page can answer these questions for you.
ARLA agents have client money protection and qualifications in lettings and management. Even the most basic service from our recommended provider, which is priced at just £14.99 pcm + VAT, includes many of the services other agents charge as extras, for example; floor plans, advertising, inventories, tenancy agreements, guarantor agreements and referencing. Why pay more?
We found that by forming a buying group we could save a a lot of money on our landlords insurance. Several hundred landlords are now members of our group, it costs nothing to be a member of our group and you could get big discounts.
Do you know the difference between tax avoidance and tax evasion? Don’t just settle for doing your own tax returns or paying somebody to do them for you. Professional advice on how to structure your affairs properly could save you a lot of money.
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