LHA Top Tips for landlords. Article 6 in a series of 8
Stay in contact to build a positive relationship.
- The most valuable asset to a trouble free tenancy is regular, open communication. Ensure both you and the tenant maintain up to date contact details and if possible obtain details of next of kin or close contacts so that you can always reach the tenant if issues arise. Ask the tenant to complete a form for this which states that you can contact all names given for any matter relating to the tenancy. Call from time to time to ensure they know that you want to be told of any maintenance issues as they arise. Some tenants will be nervous about seeming to make a fuss and this can be more costly for you if an issue is left unresolved.
Continue reading Managing LHA tenancies
Buy to let landlords are picking up almost double the average monthly rent in London compared to property investors in the rest of the UK.
Average monthly rents in the capital are £1,212 a month, according to landlord mortgage firm BM Solutions.
That’s 69% more than the UK average of £716 and 41% higher than the second-placed South East (£858).
Wales (£474 per month) has the lowest average monthly rent, followed by the North and Yorkshire and the Humber (both £488 per month). Continue reading London rents hit almost double the rest of the UK
LHA Top Tips for landlords. Article 4 in a series of 8
The most important things are that you need everything in writing; you need to keep it clear and simple for the tenant and you must understand timings. Continue reading Forms and procedures for LHA Landlords
Buy to let rents nudged down by 0.6% in February – the third fall in the past year, according to the UK’s largest chain of letting agents.
Letting activity dropped back over recent weeks, according to LSL Property Services, mainly due to the end of the stamp duty holiday for first time buyers triggering a buying frenzy. Continue reading Rents drop again for buy to let landlords
Missing a rent payment could affect a tenant’s credit rating as one of the largest credit checking firms opens a new service for landlords and letting agents.
Experian is opening data files on a tenant’s rent payment history as a new check for landlords and letting agents vetting renters who want to move in to their homes. Continue reading Experian launches rent payment profile for tenants
Rent arrears and debt problems are mounting up for thousands of tenants – with the number calling for help soaring by 55% last year.
Debt charity Consumer Credit Counselling Service (CCCS) says renters have suffered disproportionately from the country’s economic woes.
A combination of rising living costs, increasing joblessness and rents continuing to surge upwards has left many renters struggling with debt. Continue reading Number of tenants struggling with debt soars by 55%
Buy to let rent increases are slowing down – but 60% of tenants still expect to pay more to landlords by the end of the year.
More than 70% believe the current letting market favours landlords, while 55% of tenants say they are ‘trapped renters’ who would like to buy but can’t afford a home, according to online property portal Rightmove. Continue reading Rents are cooling – but tenants still expect to pay more
Tough deposit protection rules start soon that close loopholes that let landlords escape fines by returning money to tenants on the steps of the court.
After judges threw out a string of claims from tenants, the government has revised tenancy deposit protection law.
The new rules start from April and affect deposits already held by landlords and letting agents as well as new deposits. Continue reading Get ready for new deposit protection rules
Rents are still rising – but at a much slower rate than a year ago, according to a study from one of the UK’s largest letting agents.
Average rents in England and Wales nudged up 0.01% to £712 a month in January – the first time rents have risen in January and the first monthly rise for three months, says LSL Property Services.
The firm, which runs letting agents Your Move and Reeds Rains, says rent inflation for 2011 was 4% or a £30 rise over the year. Continue reading Buy to let rents are still rising, say letting agents
Landlords are starting to feel a squeeze on rental profits despite rising rents, according to a new study.
The number of buy to let landlords with large portfolios of 20 or more rental homes making a loss soared to 8%, says the research for the National Landlords Association.
The findings for the last three months of 2011 showed the biggest rise in portfolio landlords making a loss since records started in 2006. Only 1% reported a loss in the third quarter of the year. Continue reading Record Number of Landlords Making Rental Losses