Buy to let landlords should get extra tax breaks to encourage them to provide more homes lower rents and more stable tenancies, according to a new study.
The action is needed to help a predicted 1.5 million young renters find a home because they are unlikely to ever afford to buy a property, says social care charity the Joseph Rowntree Foundation. Continue reading Give tax breaks to landlords to ease housing crisis
Let to buy landlords who move and rent out their home because they cannot sell the property are finding more tenants want to confirm they have a mortgage lender’s permission to rent.
More letting agents are demanding sight of written confirmation of permission to let from banks and building societies – especially if corporate tenants are involved in the agreement. Continue reading Tenants quiz landlords over permission to let
After reading Experian launches rent payment profile for tenants, I am perfectly prepared to give a person a chance for a new start but I cannot afford to take people who will not pay their rent. Many landlords feel like this too. Many of us are in a position to pick and choose our tenants and just won’t take a chance but we all need to remember, as the all financial investments warn, “Past performance is no guarantee of future” and those landlords who avoid tenants on LHA are just one P45 away from that tenant. Continue reading Reducing/avoiding rent arrears – I’ll have some of that please
Landlords are being urged to sign up for a new passport scheme for tenants that build a six-year rental history similar to a credit record.
The passport is a real-time online service that helps landlords reference tenants. Continue reading Landlords Urged to Sign up for Tenant Property Passport
Tenants are snapping up buy to let homes within hours in some areas – although the average is 12.7 days, according to letting agent Countrywide.
Although homes are disappearing fast, the national agent reckons more homes are coming to the market to maintain supply. Continue reading Tenants Grab Buy to Let Homes in Record Time
Maps that show commuting times to a destination postcode are a great aid for landlords who want to highlight public transport links near their properties.
Students and universities are big users of the new mapping service that works out bus and train travel times.
Landlords can use the maps to show prospective tenants just how long a trip in to a city centre or to a university will take.
The data can help landlords select property locations on good routes in to key areas, while tenants who want to know how long the trip to work or university will take can choose to rent a property in a convenient neighbourhood.
The mapping concept is simple – a property postcode is input in to the web site and a map is displayed with ripple zones away from the home in different colours representing 15 minute travel time bands.
This example is centred on Cardiff University showing all areas within a 75 minute commute. The inner red band denotes all the areas within 15 minutes travel of the campus.
Each change of colour moving away from the university adds another 15 minutes to the public transport commute.
In this example, students looking to travel no more than 30 minutes to get to the university should look for homes to rent in the two central red and amber zones. Those who do not mind adding an extra 15 minutes could consider homes in the yellow zone as well.
The maps can also be customised for travel at different times, so if lectures start at 9.30 am and students need to be there by 9.15, the map can be set for travel in the rush hour.
The commute area can be customised to travel times from 30 to 180 minutes and are prepared from public transport timetables and travel data.
Ten standard 1200 x 1200 pixel maps cost £25 each, and come with a licence for use on websites. The maps are available online from Mapumental
As all landlords know, if you take good care of your properties and your tenants they will look after you. If you’re not a good landlord they will tell all their friends but do they tell all their friends what a great landlord you are and when you’ve got a property coming vacant? Continue reading Are YOUR tenants YOUR best ambassadors?
Please remember that my properties are all mid range to upper end of the market. My typical tenant profile is professionals and retired couples. Some of the strategies outlined may be transferrable to other market sectors but not all of them.
Continue reading How I choose my tenants