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How long does an eviction take – and more useful information

Repossession is the last situation a landlord wants to consider, but if you find yourself in a position where you need to retrieve your property from tenants you need to know where you stand. But if you found yourself needing to take back control of your property, would you know how to proceed in court?

Find out how long does an eviction take

and more useful information on possession, an often tricky, costly and time-consuming process.

How to evict a tenant in the UK

Possession is a tricky process to navigate and can be costly and time-consuming. So, it’s very important to explore other options before taking this route. Try to resolve the situation with informal talks with your tenant to see if the situation can be resolved amicably.

If that fails and you decide on the repossession route for assured shorthold tenancies (ASTs) in England and Wales, you have two options.

  1. You can use Section 8 where there has been a breach of tenancy,
  2. or Section 21, which requires two months’ notice, but can be used at any time after the fixed term.

How long does an eviction take & how much it costs

The time it takes to regain possession surprises many landlords, even under the Section 21 accelerated procedure which doesn’t require a court hearing.

On average, Section 21 takes 104 days to regain possession, and Section 8 takes 145 days.

Costs range from £3,525 for Section 21 and £5,730 for Section 8.

Under Section 8, you must indicate which grounds you are using to reclaim possession. Many grounds are discretionary, even if you prove the ground, the judge can choose whether to grant possession.

How many rent arrears before eviction

For Section 8 claims, rent arrears or late payments were by far the most common reasons, with over 90%. Ground 8 is a mandatory ground – two months or more arrears on the date of the court hearing. Therefore, there is a greater probability of repossession.

Seek advice

Regaining possession can be stressful, time-consuming and costly. Forms and paperwork can be confusing and not intuitive to fill in. This results in landlords also commonly make procedural or administrative mistakes. Unfortunately, these can delay the process or cause rejection. If you not served any notice or issued any court proceedings before, it’s best to seek advice before beginning the process to avoid any issues down the line.

It’s also important to note that in order to successfully serve a Section 21 in England you need to have issued the correct prescribed information (in some cases before the tenancy commences). Failing to do so could potentially render your Section 21 invalid, so it’s important to get everything right from the start to avoid issues later on. Evicting a tenant and recovering the rent

What is West London Property Networking?

If you have any questions on property or block management, please contact Pelin Martin to book a 30-minute complimentary property consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

UK Housing Stock Availability and Demography

Many young Britons believe that the housing market is against them.

In the past two decades, house prices have doubled in real terms, because of both

  1. tight planning restrictions, which have limited the supply of homes,
  2. and low interest rates, which have stoked demand for them. Buy to let mistakes

Theresa May, the prime minister, has described the scarcity of housing as

the biggest domestic policy challenge of our generation.

But the reality is that it challenges some generations more than others.

Elderly generation, who bought their houses before the boom, own a huge slice of overall housing wealth relative to their share of the population.

It is a different story for youngsters. A 27-year-old living today is half as likely to be a home owner as one living 15 years ago. Yet there may be a silver lining for Millennials. The thinking goes that, within a decade or two, baby-boomers (the bumper generation born between roughly the early 1940s and early 1960s) will begin to sell up, as they first start to downsize, then move into elderly people’s accommodation and, eventually pass on. As their properties are put on the market, supply will rise, depressing prices and bringing ownership within reach for more people. Calculations give an idea of the effect on house prices when boomers begin to sell up.

England’s owner-occupier baby boomers live in houses with an average of three bedrooms.

If all of them downsized to homes with 2 bedrooms, that would free up housing equivalent to around 2.5% of the current UK housing stock.

A 1% rise in the UK housing stock leads to a 2% fall in prices and rents, all else being equal. On that basis, a mass downsizing would imply a cut in prices of about 5%. Yet so far, the British boomers are in no rush to scale down. In contrast to America, Britain does not have much of a downsizing culture. By one calculation just 40% of Britons who owned their homes at age 50 will move to a new house before they die. The evidence points to geography and climate as the instigator for movement where in Britain sunnier climates are in short supply. Although an intrepid few pensioners retire to the continent, Brexit is likely to make that harder. Government policy also discourages downsizing.

Stamp duty, the tax on home buyers, makes moving expensive.

As house prices have risen in the past decade, the average amount of stamp duty charged per house-purchase has risen by half in real terms. Meanwhile, there is a little direct cost associated with remaining in a large empty nest. If downsizing is unlikely, boomers may at least sell up when they move into an old people’s home. But here, options for elderly Britons are also limited whereby there is a huge opportunity for developers. Perhaps 3% of British over 65s are in some sort of residential care, compared with more like 5% in America.

Britain is undersupplied with good retirement housing.

More than half of the existing stock was built or last refurbished more than 30 years ago. This points to a massive opportunity for assisted living accommodation which needs to be brought into mainstream supply. All this means that it may be only when baby-boomers start to pass away, that lots of housing will begin to change hands. The most common year of birth for the baby-boomer generation is 1947. Since their most common lifespan is around 87 years, peak death could occur in 2034, when Britain will see around 15% more fatalities the house hunters it will be a help. By that time, baby-boomers’ deaths will be pushing down on house prices by around 0.7% a year. Yet just as the housing crisis affects different generations unequally, the impact of the great baby boomer sell-off will have an unequal effect on different groups of youngsters. Landlord Tax on holiday lets

The boomers will leave record amounts of wealth to their descendants.

According to calculations, roughly 100 billion are left behind each year. Over the next 20 years, the total value of bequests is expected to more than double, peaking in 2035. By 2020 a couple will be able to pass on a house worth 1 million tax-free. Most of this new-found wealth will go to a relative few. Nearly half of non-homeowning millennials have no parental property wealth at all according to current research. The other half will be able to use their inheritance to gain greater purchase in the housing market, for themselves or their own heirs and heiresses. A class of wealthy oldsters is moving on, only to be replaced by a class of wealthy inheritors. Demography will put downward pressure on house prices. But some people have a lot more to look forward to than others. For developers, this is something to bear in mind. How do mortgage lenders calculate the affordability

The opportunity for assisted living accommodation is great and the demand is there as the baby boomers become more reliant on healthcare and mobility restricted.

Contact Valeska Pack at SpaceShapers Architects, Project Managers and Low Energy Designers, to have your property or project assessed for how you can expand and rework it to develop a feasible brief and maximise your returns.

info@SpaceShapersArchitects.com

D: +44 (0)7972 803451

T: +44 (0)20 3092 6183

Buy to let mistakes

In this article, we talk about property investment we are referring to buying and holding for the long-term, as in 10 years or more, rather than an entrepreneurial activity where one buys with a view to renovate and sell.

There are many buy to let mistakes you can make when purchasing an investment property.

Cash Flow

Most property investors will name financial freedom as the primary reason for investing in property.  Generally, the main way you can achieve that financial freedom is by replacing employment income with passive income from your investment, in the form of cash flow.

So, it stands to reason that cash flow is most important, right? We find that most investors and would-be investors start out with a default position of “cash is king” and simply chase cash flow as their main form of investment return. This goal is all well and good so long as you already have a sufficient asset base to generate an acceptable level of income to enable you
to replace your income. Capital growth is quite important in the cases that you are investing a small proportion of the property in the deal. For instance; £50,000 invested in a £200,000 property that doubles in 10 years mean that you’ve turned your £50,000 into £250,000. Do that a few times and you will achieve your £1M and be able to generate the required £50,000 per annum. Tenant Eviction and Rent Recovery

Buying Cheap

Why wouldn’t you want to buy cheap properties? Well, unless you are buying at the bottom of the market and able to get good quality properties in good areas that are being sold in distressed situations, then usually “cheap properties” are cheap for a reason. The lack of demand for the property is due to a lack of desirability. Unless you are going to do something significant to change the lack of desirability, like a major refurbishment or a complete knock-down and rebuild, then that probably won’t change. You want to invest in a property with growth or rental return potential.

Supply and demand drive the property market. So, you want as much rental and buying demand as possible as that will drive your returns. The desirability to potential tenants and future buyers is of utmost importance. If you have the most desirable property in an area, then you can have confidence in high demand. Landlord Tax on holiday lets

Target Market

Understand who is your target market is and what they want. Analysing the socio-economic levels and demographics of an area is key. Look at average incomes, vacancy rates, unemployment rates, household make-up, average age etc will help you understand who your potential tenant and resale market will be. One way to do this is to analyse census data. However, these are only done every 10 years. So, depending on how long since the last census, this data can be out of date. You must understand what your target market wants and make sure the demand is skewed in your favour. If you’re investing in an area that has high single occupancy rates then a one-bedroom apartment is probably the best purchase, if you’re investing in a family oriented area than a 3-bedroom house probably makes the most sense. How do mortgage lenders calculate affordability

Emotional Buying

A recent report stated that 90% of all buy to let investors buy within 5 miles of their own home as that is the area that most people are comfortable with as they know the area well. They can go around to the property whenever it is necessary.  This isn’t generally the best strategy as there is the high statistical probability that the chances of the best investment being within that circle are fairly slim. Not impossible but slim to say the least. This is where seeking advice on what is most suitable for your situation becomes of utmost importance. An experienced and qualified property advisory company can assess your situation and conduct thorough due diligence on finding the most suitable investment opportunities from the entire market to ensure you make the best possible investment and achieve the right outcomes. How to check if a property is gas safe

Fearing Debt

Many investors spend a large portion of their time trying to reduce the mortgage on their homes and achieve a debt free position. So, why would they now want to go out and leverage themselves again?

For instance, turning £50,000 into £250,000 with your property investment, if you invested that same £50,000 in cash and the investment outcomes were the same (doubling over 10 years) you’ve turned £50,000 into £100,000. This is £150,000 less than the geared example.

In the current low-interest rate environment where mortgages are being offered at 2-3% and properties are yielding between 4-10%, it simply makes sense to have some leverage to take advantage of the differenceBills included rent

Fearing Leasehold

We have all heard the horror stories of service charges rising exponentially. What we don’t often hear though is the costs associated with freehold properties.

In usual cases, the costs of maintaining a freehold property are often higher than maintaining a leasehold apartment even after service charges.

Over the past 20 years, apartments have outperformed houses in terms of capital growth and rental yields and most apartments being leasehold. They also tend to be located in populated areas. So, disregarding leasehold apartments could be a big mistake.

The point to make here is that both types of properties can be good investments. You should consider all properties on a case by case basis and with an open mind. Generally, new or near new properties are lower maintenance and more passive. Hence, they incur less risk of high or rising costs. However, new builds don’t tend to increase in value in the first few years.

Cost Calculation

Rent – Minus Mortgage Repayments = Net Income

Is this how we should be calculating rental income when buying a property? Anyone with property experience would tell you that is absolutely not the case.

Costs that need to be considered include;

  • Maintenance
  • Management
  • Lettings
  • Service charges
  • Ground rent
  • Re-Mortgaging
  • Tax & Accountant fees
  • Mortgage repayments

Then there are also capital costs (entry costs) and exit costs such as;

This list may seem long and they will not all apply to all properties but you are always better of over accounting for costs and under-accounting for returns and then you shouldn’t be disappointed. if you’re unsure what costs will apply to your properties or a property you are considering, seek advice.

What is West London Property Networking?

If you have any questions on property or block management, please contact Pelin Martin to book a 30 minute complimentary property consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

Evicting a tenant and recovering the rent

Evicting a tenant can be very difficult.

Discover how to do it, recovering the rent and which factors to take into consideration.

If the tenant does not leave on or before the possession date, you can instruct a High Court Enforcement Officer to start the enforcement process, organising the eviction of the tenants.

If your tenant owes you also rent arrears on the property, you can add a claim for money to the possession order. This way, you do not need to apply separately for judgment and writ of control. Landlord Tax on holiday Lets

High Court Enforcement Officers must give seven clear days’ notice of the intention to enforce the debt aspect, as well as notice of possession.

County Court bailiff or High Court Enforcement?

There are factors to take into consideration when deciding who to use to enforce a possession; the order will include:

  • How quickly they can act
  • The cost
  • Difficult evictions

Speed of action

In some areas of the country, there may be a considerable time delay before a County Court Bailiff can carry out an eviction.

Once you have permission to use a High Court Enforcement Officer, it is best to request this at the same time. Indeed, the initial application for the possession order, the enforcement part of the order will be transferred to the High Court for execution by a High Court Enforcement Officer.

The transfer time varies from court to court. As soon as the writ of possession is issued, the HCEO will send a 7-day notice of enforcement and will attend promptly once the notice period has expired.

The cost

In terms of costs, County Court Bailiffs seem cheaper than High Court Enforcement Officers. However, they are not necessarily more cost-effective. The current court fee for a warrant of possession is £121. The court fees for a request to issue a writ of possession is £66 (form PF88). Also, there is a £100 court fee to apply for permission to issue a writ of possession.

It is, therefore, a commercial decision and comes down to whether you are prepared to lose the potential rental income from the CCB delays.  Also, whether you consider there is a risk of damage to the property if the tenants are not removed quickly.

Difficult evictions

High Court Enforcement Officers will often have in-house specialist support teams. They are usually more determined than the County Court Bailiff to complete the eviction where the occupants are difficult.

It is not uncommon for hostile tenants to

  • barricade themselves in,
  • climb onto roofs,
  • launch projectiles,
  • booby trap property
  • and physically assault enforcement agents.

If you have particularly aggressive, difficult or vulnerable tenants, in some instances County Court Bailiffs have refused to evict them on the grounds of health and safety.

High Court Enforcement Officers are generally more experienced in dealing with difficult tenants and have the expertise to deal with difficult or dangerous situations, including liaison with the Police where necessary.

Applying for a possession order

Assuming you have an Assured Shorthold Tenancy (AST), if you wish to evict your tenant you must issue either a section 21 notice giving at least two months’ notice to the tenant, or a section 8 notice which is usually due to rent arrears, giving one month’s notice from the date of breach. If the tenant does not move out by the date specified, then the landlord can start the
possession process.

What is West London Property Networking?

If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

Landlord Tax on holiday lets

As per the new regulations, there are additional taxes on buy to let properties.

They hit landlords heavily because many items are no longer tax-deductible. Also, the reduction in tax breaks as it is making traditional buy to let less attractive.

Landlords who have recently completed their tax returns must have started to feel the changes. Additionally, this will be more apparent in the future as the full impact of the mortgage interest tax relief comes into place. Taxes are going to be heavier in comparison for higher income earners.

You can act and avoid the implications of this punitive tax by diversifying your portfolio with holiday rental investments.

To convert an existing property into a holiday let, you need to completely redecorate it and furnish it to a standard expected of a holiday apartment. Read more: Bills included rent

Many hands-on investors are thrilled by this news and have been converting some suitable properties within their portfolio to holiday lets. However, not all landlords may benefit from having properties located along the coast or in busy tourist cities. Assured Shorthold Tenancy

Don’t let the idea of short-term lets, managing to advertise through Airbnb and the frequent cleaning dissuade you. In fact, the good news is that some holiday rental properties are available to purchase within a resort with on-site activities and watersports which will increase occupancy and come fully managed.  What is rent to rent

Capital allowances are available on furnished holiday lets.

This means that investors can possibly maximise their income. Instead, this is unavailable for traditional buy to let properties. Also, there is also mortgage interest tax relief that is applicable. This means that investors will virtually pay no tax for the first four years of the investment.

For example, someone who invests in a £225,000 furnished holiday let can claim £63,113 in capital allowance. What happens at the end of a tenancy

Other benefits include the unit being fully managed.

This means that investors will not have to worry about finding occupants and managing letting the holiday home in due course.

What is West London Property Networking?

If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

How do mortgage lenders calculate affordability

Some lenders may tell you that they won’t offer you a mortgage because your Affordability risk is too high. How to keep your property gas safe

Lenders’ Affordability rules differ depending on the landlord.

Finding a suitable mortgage match the landlord and the mortgage lender is the priority of the mortgage brokers. Bills included rent

When a lender considers your application for a mortgage, all they want to know is that they can get their money back with interest. Each lender considers risk differently so as you may be suitable for one though not suitable for another. Assured Shorthold Tenancy

Affordability is calculated through a Stress Test, which weighs up the amount you want to borrow against the income. If you have a small number of rental properties and have a decent employed income, a lender may not be interested in your rental income at all. Mortgage lenders use the information to check if you pass the stress test and calculate your affordability risk. How to find good tenants

Passing the Stress Test is the first step, the credit score is the second.

It is important to be transparent from the beginning regarding credit history because if it leads to a declined loan application, it could take 6 – 12 months before lenders regain confidence in you. What is rent to rent

  • Typically lenders start assessing portfolios with 4 or more properties, some will mark it at 7 properties and for others, portfolio size is completely irrelevant but will put a cap on the combined portfolio value. What happens at the end of a tenancy
  • The more properties you have the more equity they expect you to have across your portfolio. If you have 7 or more properties you are likely expected to have 35% equity to get a decent rate.

What is West London Property Networking?

If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

How to check if a property is gas safe

Most landlords don’t check their gas appliances annually. So, we’ve put together a list all landlords need to know how to check if a property is gas safe.

Carbon monoxide alarms are a must in all properties where there is a solid fuel burning appliance

A property with wood burning fires and stoves requires a carbon monoxide alarm. It is a legal requirement. The law doesn’t include gas appliances though you should install carbon monoxide alarms if you have any gas appliances. These alarms cost less than £30.

Bills included Rent

Gas safety checks must be carried out annually

The government recently introduced changes to gas safety regulations.

So, you can carry out the checks in the 2 months prior to the due date, while still retaining the original expiration date. You don’t need to worry about leaving it to the last minute.

However, you need to complete these checks within 12 months of the installation of a new appliance or flue.

Assured Shorthold Tenancies

Ensure a qualified Gas Safe registered engineer completes the gas safety check

Registered engineers have been trained in gas safety and the standards needed for appliances and installations. It’s illegal to use a non-registered engineer. All engineers must carry an ID card, which you should request to see.

How to find good tenants

Keep paperwork safe

You must provide a copy of the gas safety record to your tenants within 28 days of the completion of the check. Any new tenants must receive a copy of the most recent certificate before they move in. It’s best to get an acknowledgement of receipt from the tenant with a signature for your records. Legally, you have to keep a record of the safety check for at least two years.

What is rent to rent

Register your appliances

Registering your appliance will keep you up-to-date with any product recalls or necessary safety repairs. You can also check the details of any older appliances you might have. It may also entitle you to an extended warranty.

What is West London Property Networking?

If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

Bills Included Rent

Many landlords are renting their properties on a room by room basis.

Demand for bills included rent has increased in recent years.

In fact, millennials’ tenancies make up 14 per cent of tenancies in the UK and bills included rent is a high priority for them, when they’re choosing a place to live.

Assured Shorthold Tenancy; how to start them right

What should you include?

What you choose to include is completely optional.

A Bills Included Rent agreement can include

  • rent,
  • bills,
  • council tax,
  • wireless broadband,
  • TV licence,
  • as well as a cleaner and gardener if you wish to hire their services on a regular basis for the upkeep of the property.

How to find good tenants?

Is there a way to control gas central heating?

Factor the consumption cost into the rent depending on the type of tenant you are renting to prior to the move in date. Also, try to factor in seasonal changes. In fact, tenants will use more over the winter months.

For instance, if you are renting a property to five university students, you may need to factor in a higher gas bill in the total rent. In fact, most students only have 8-12 hours of contact time with time spent in lectures, seminars and workshops a week. This means they will likely spend more time inside the property than a house of young professionals.

You should only question the heating and gas consumption if the bill is excessively high or if you have reason to suspect that the gas is being used for something other than cooking, heating, and hot water. You could also provide a limit in the tenancy agreement, with any additional costs being passed on to the tenants.

What is rent to rent?

What about the overuse of telephone/ internet bills?

Most leading internet providers include unlimited internet usage as part of the monthly payment. Take out a contract with a provider who offers unlimited usage. This way, you will prevent your tenants from racking up any additional costs.

What is West London Property Networking?

If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

Assured shorthold tenancy: how to start them right

Discover in this article how to beginning an Assured Shorthold Tenancy (AST), learning from the common mistakes, in order to get it right.

In the long-term, it will work out better for all parties.

  • Comply with the regulations, provide all necessary information

You must provide your tenants with a valid gas certificate, an Energy Performance Certificate and the government`s latest How to Rent Guide. The guide can be emailed. Also, check local licensing requirements. If you let your property without a licence, you may be liable to pay a fine. Failure to comply with these points will invalidate a future Section 21 Claim in England. You also have to check that your tenant have the right to rent in the UK.

  • Secure the deposit

It is recommended to collect a deposit in the event of property damage or rent arrears. If you do secure a deposit you must protect it and register it within 30 days of receipt and provide a certificate to the tenant. You must explain to the tenant where the deposit is being kept. You can select one of the three Government back deposit schemes.

Read more: How to manage a tenancy deposit dispute?

  • Provide a safe property

Ensure wiring, electrical appliances are safe. It would be advisable to obtain an electrical safety check. HMOs must obtain an electrical safety check and electrical appliances need a portable appliance test. Landlords must provide a smoke alarm on all floors and a carbon monoxide alarm for any solid fuel appliances.

Read more: Are your tenants away? Here’s what to be aware of.

  • Order an inventory

Obtain a comprehensive and accurate inventory when letting your property. This will help if you need to make any claims in the future. You can either order an inventory clerk to carry out this report or you can prepare the report with pictures taken by your phone. Beware an inventory prepared by you would be less respected when a claim reaches court than a report prepared by a third-party. Ensure to email the inventory to your tenant within 7 days or have your tenant sign it.

  • Spend time with your tenant

At the start of the tenancy walk through the property and explain how the property functions to your tenant. Explain to them how they need to keep the house. Take meter readings. Ensure your tenants understand what you expect of them when it comes to looking after your property.

What is West London Property Networking?

Read More: How to find good tenants

If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk

How to find good tenants

Our 8 tips on how to find good tenants for your rental property:

1. Follow the Law

Landlords must treat all potential tenants equally. The system is designed to prevent discrimination against certain classes of people in any activity related to housing. In short, you cannot discriminate based on race and colour, national origin, religion, sex, families with children, disability.

What is rent to rent

2. Choose a Tenant With Good Credit

Look for a tenant who is financially responsible. If they are responsible for paying their bills and on time, there is a strong chance they will pay their rent on time and be responsible for your property. Getting a credit check has a fee, and sometimes landlords ask their applicants to pay the credit check fee as well. Checking a tenant’s finances is a two-step process:

What happens at the end of a tenancy

3. First Verify Income

  • Check their income is sufficient to cover the monthly rent
  • Ask for copies of their bank statements and pay slips
  • Call their employer directly to confirm their employment, length of employment, attendance record and monthly earnings.

How to navigate the changes in tax relief for landlords

4. Check Credit History

  • Do they have a history of paying their bills on time?
  • Check their income to debt ratio.
    • Even if their income is sufficient, you have to factor in how much debt they have.
  • Look for county court judgments, bankruptcies or prior evictions

The criminal record is a public record and can be viewed at various courts. This check will turn up both serious and minor offences. You will need the tenant’s name and date of birth to run one. Keep in mind that those with a criminal record may try to falsify this information, so make sure to check a valid ID to verify that they are who they say they are.

It would be best to hire a reputable tenant screening company to perform this check for you. It can often be combined with the credit check.

Winter insurance tips for your rental property

5. Look at the Tenant’s Rental History

If possible, you should talk to at least two of the tenant’s previous landlords to check if the applicant was a problem tenant. There is a possible option that the current landlord may want to get rid of the tenant and may not be so honest.

Are your tenants going away?

6. Questions You Should Ask:

  • Did the tenants pay their rent on time
  • What was the reason for the move?
  • Was the tenant evicted for non-payment of rent or for breaking the landlord’s rules?
  • Did the tenant give the necessary notice
  • Was the property kept in good condition
  • Did they cause any damage to the property?
  • Were they respectful to their neighbours?
  • Were they demanding?

Of course, if the applicant is a first-time tenant, a student or a recent graduate, they may not have a rental history. In this case, you need to require a guarantor.

What you need to consider before refurbishing your rental property?

7. Choose a Tenant Who Is Stable

Check the tenant’s prior addresses and employment history on the application form. Do they move or switch jobs often? If they move often, this pattern is likely to continue and you will soon have a vacancy on your hands again. If they have not shown consistent employment, they may not be able to afford the apartment in a few months and you will be left starting your tenant search from scratch or dealing with an eviction.

Current buy to let lending rules

8. Trust Your Instincts

You can do all the screening in the world, but sometimes your instincts are the best judge of character. You may feel that there is something off about a tenant who otherwise looks good on paper, only later to find that the tenant has been using someone else’s identity to apply for the apartment. Trust your screening, but do not ignore your gut feelings.

What is West London Property Networking?

If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk