Rent costs nearly a third of buy to let tenants 50% or more of their take home pay, according to research by online property portal Rightmove.
While paying private rents averages 38% of take home pay for all tenants. Continue reading Rent Costs Buy to Let Tenants More Than Half their Pay
Letting agents are charging fees of up to £600 to tenants who want to privately rent a home in Wales, says housing charity Shelter.
Shelter claims letting agents mask the true cost of letting a property and wants the Welsh Assembly Government (WAG) to introduce new rules to make the cost of renting clearer to tenants. Continue reading Letting agents slammed as fees go through the roof
Tenants are facing a financial struggle to pay their rents, according to the latest survey by the Association of Residential Letting Agents (ARLA).
Around 40% of letting agents told their trade body that the number of tenants late with rents has increased over the past six months. Continue reading Rising number of tenants struggle to pay rent, says ARLA
Renters who flatshare won’t be affected by their housemates who fail to pay their rent and bills following complaints from tenants to Experian.
After announcing the plans for a rent payment profile for tenants, those on shared tenancy agreements were going to be linked, impacting each other’s credit score. Continue reading Experian back-track on linking shared tenants
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
“Respect seems to be like a boomerang in the sense that you must send it out before it will come back to you.”
I have been giving a lot of thought to the relationship between a landlord and his tenants. Many tenants have landlord stories and many landlords have tenant stories but sadly neither seem to want to tell stories in praise of the other. Why is this? Why is so there little mutual respect between many tenants and landlords? Why is there so little respect for landlords generally? Continue reading The Boomerang Effect for Landlords?
The buy to let market is saturated with tenants and the small remaining supply of private rented homes will soon dry up, according to a survey of letting agents.
The Association of Residential Letting Agents claims a lack of homes for rent is outstripped by demand. Continue reading Buy to let market swamped by tenants
Paul Shamplina, founder of Landlord Action
Over the last couple of years, the problem of unauthorised subletting has been growing. From last year alone, our instructions relating to unauthorised subletting have increased by around 15%.
An unauthorised sublet is when a tenant re-lets a property to another tenant without the prior permission of the landlord. It can affect all types of landlords. However, overseas landlords and HMO landlords are particularly vulnerable. Continue reading 3 Dangerous Types of Tenant – Part 2: Illegal Subletting