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Section 21 and Section 8 notice

You can evict tenants who have an assured shorthold tenancy using a Section 21 or Section 8 notice, or both. It is important to know the difference. Use a Section 8 notice if your tenants have broken the terms of the tenancy.

How to find the right tenant in London

Having the best tenants mean constant cash flow for landlords, decent tenants who pay on time and no voids. So how to do you find them and make sure they want to rent your property? First of all, you MUST make sure that it (and you, as a landlord) complies with all the legal obligations. Present the property well Make sure the property is clean and odour free inside and out. If it’s been vacant, arrive early and open the windows to allow some air to circulate, and pick up any post that’s collected. Make sure it has been professionally cleaned and kept tidy, including the garden.

Buying a property to develop and let it out

Experts in property management know which are the most profitable areas to look for your new property buy, depending on the type of let you have in mind. To explore your options realistically, it is important to start with a clear idea of what your budget is and how flexible you can be with it Great transport links are always a plus, as it is staying away from busy and noisy traffic. But, depending on the letting market you are aiming for, an agent can point you to the areas that may have the right amenities, schools, entertainment, etc., for you to attract the clients that are willing to pay a higher rent in exchange for easy access to those services By employing a Property Management Agency, you automatically raise yourself and your project to the level of many other hundreds of professional property hunters who are also looking for the same great opportunity in buy-to-develop properties you are wishing for.

Tax implications on let properties

Many expats rent out their UK home, while they are abroad for work reasons or having settled abroad for good. Keeping your UK property will give you a peace of mind they you are still on the property ladder when returning to the UK, to provide income, and it also makes it easier to obtain further mortgages later on. It can be tempting to cut out the agencies, find tenants and manage the maintenance and rent collection yourself from abroad though it would be exhausting. Not being able to oversea the procedure. How can you make your property more attractive to tenants? The drawback is that dealing with tenants and maintenance issues directly can be stressful and time consuming. It’s an even bigger hassle if you happen to live in a different time zone. How can you make long distance property management work for you? In addition, when tenants move out, inventories must be carried out, repairs done and the return of the deposit negotiated. What is the importance of check in inventory?

Property rental activity update – Rental management for landlords

As Rightmove figures suggest.... Pace of annual rent rises now lowest since 2014 0.7% annual rate of increase in national asking rents (excluding London) in 2017, the lowest since 2014 Asking rents in London ended the year 1.2% higher than at the end of 2016, the first time the annual rate in the capital has been in positive territory in nearly two years South East and Yorkshire and the Humber are the only two regions to end 2017 with asking rents down, while the North East saw rents rising at the highest rate, up 3.3% on 2016 Farnham in Surrey recorded the highest rental growth outside London at 9% in 2017, followed by Corby in Northamptonshire, up 8.2%.

Rightmove London trends of 2017 and 2018 predictions -rental property management London

2018 London forecast: Re-adjustment to continue with prices to fall by further 2% With the price of property coming to market in London down overall by 1.8% in 2017, Rightmove forecasts another tough year for many of those looking to sell in 2018 as buyers will continue to hold the upper hand Rightmove predicts a further average 2% drop in new seller asking prices in 2018, though the lower and middle sectors of the market will continue to outperform the upper Check out our guide on how to choose your estate agent Typical first-time buyer sector properties will show more price resilience following stamp duty savings – 2018 prices predicted to edge closer to recovery with a 1% fall compared to -2.0% this year The middle ‘second-stepper’ sector is forecast to remain challenged next year (-1.5%) compared to this year (-1.1%), as costs of both stamp duty and trading up remain high Prices in the upper ‘top of the ladder’ sector are predicted to further weaken with a 4% drop next year compared to the 3.7% drop recorded this year as sellers’ resolve to hold out for higher prices weakens

How to make your property more attractive to tenants?- Manage my property London

Check out your competition An easy way to makeover your property is to simply emphasize its positives and never mention the negatives. It would be beneficial to check other properties that are on the market in your area and find out what your property has to offer that the others don’t. Is yours in a good school catchment area, is it very close to the transport links and local shops, does it have a garden…… Just focus on highlighting what your property has, talk about the private parking area, talk about how close it is to the local park, is you’re a quiet road, just compare your rental value with what is on the market and this will enable to figure out if yours is on the market at the right price. You just have to understand what makes your property unique and desirable and then let the rest of the world know about it! Sell what your property has; don’t focus on what it may be lacking. Find out how you can ensure buy to let success

What is a guaranteed rental scheme

Guaranteed rental income scheme This scheme works on the basis of an agent taking on a property and setting up a scheme that allows them to sublet the property to tenants chosen by them. These schemes tend to pay less rent than the true market value though they do have advantages and disadvantages to the landlord. […]

How do property auctions work?

How do property auctions work uk You need to know how do property auctions work if you want to make sure you won’t make any mistake when it buying at a property auction. How do property auctions work: the Prerequisites. You need to have 10% deposit ready on the day of the auction, also you […]

HMO licensing legislation

An HMO, or "house of multiple occupation" is a property rented out by at least 3 people who are not from 1 ‘household’ (eg a family) but share facilities like the bathroom and kitchen. It’s sometimes called a ‘house share’. HMOs tend to provide a good return for landlords. Let's check all the necessary requirements of the HMO licensing legislation You must have a licence if you’re renting out a large HMO. Your property is defined as a large HMO if all of the following apply: it’s rented to 5 or more people who form more than 1 household it’s at least 3 storeys high tenants share toilet, bathroom or kitchen facilities There are certain rules and regulations for landlords that must be followed. Do you need an HMO licence? You, as the landlord, must register your rental property as an HMO with your local authority if it has three (habitable) storeys or more and it is occupied by five or more people in two or more households. A 'habitable storey' is any storey that is in residential occupation (even if it's self-contained). If you, and your family, are resident in the building, then where you live will be included as a storey. Basements and attics are considered a storey if they are occupied, or have been converted into accommodation, or are used in connection with the HMO's occupation. The term 'household' is defined as members of the same family who live together and couples who cohabit (whether or not they are married, including same-sex couples). A group of friends who are sharing is not termed as a single household. For example, three friends sharing together will be viewed as three households. If a couple are sharing with a third person, this will be considered to be two households. A family renting a property are one household.

The importance of HMOs in todays market as investment

HMOs, House of multiple occupancy are generally defined as properties with a minimum of three individual tenants sharing kitchen, bathroom and toilet facilities. Tenants renting the rooms separately and not being connected. Depending on the type of HMO and its location, 5 or more rooms rented out in a single dwelling is classified as a HMO that needs licensing, rooms may be subject to minimum size guidelines or additional fire safety measures put in place. Residents living near HMOs often complain about higher levels of noise, overflowing bins and parking requirements of multiple tenants. But occupants of HMOs also complain about substandard living conditions, unkempt communal areas and unresponsive landlords. HMOs have taken a different level, it is getting harder to get on the property ladder and most professionals rent for many years and try to raise a deposit for their fist home. Therefore HMOs has emerged as the demand for affordable, yet high quality, shared housing increases. HMO landlords have been increasing the quality of the rooms accommodation and adding a wow factor to attract higher quality tenants and achieve the highest rent.

Capital gains tax on investment properties

The rules on capital gains tax on your home can be quite complicated. Essentially, if you’re selling your main home that you live in you are very unlikely to need to pay capital gains tax at all, because of a tax relief called private residence relief. Capital gains tax is generally not payable on gains you make on the sale of your only or main home. But if you own more than one, there possibly would be a bill to pay. By law as of April 2019, tax digital is mandatory for landlords and the interest relief system is being changed over a period of 4 years. If you’re selling a second home, or selling a home that you rent out to generate an income, you might have to pay, although there are ways you might be able to reduce your tax bill through letting relief or nominating which of your homes you want to be tax-free.

Why does a landlord need a property inventory?

A property inventory ensures the landlord doesn’t have to pay for the damages or loss made to their property during their tenants’ residency. Floors can be scuffed, carpets stained and furniture may be missing. Actually, a number of unexpected damages could take place, including vandalising a kitchen or a bathroom! When it is time to return […]

Accidental landlord advice

Accidental landlords become landlords as a result of circumstance, rather than design. There are many reasons that someone might become an accidental landlord. They may have inherited a property, or had to relocate for work reasons. Whatever the circumstances, the owner would have decided that their best option is to let the property rather than to sell it. Statistics confirm that 30% of UK landlords are accidental landlords. Naturally, accidental landlords tend to be inexperienced when it comes to letting and unsure about their obligations. Inform your insurer You must notify your insurance company that the property is now being used as a rental property, your insurance policy will most likely be invalidated. That could be a very expensive mistake. In addition, we advise that you look at taking out public liability insurance to protect you against any incident which takes place in or around your property. Talk to your mortgage provider As well as your insurer, you should also talk to your mortgage provider to let them know that you intend to rent your property. In some cases they would allow you to stick with the current mortgage deal for a year or two with a view of switching in the future if becomes necessary.

What to do if your tenant damages your property

If your tenant damages any of the contents of your property, you can deduct an amount from the deposit or even take legal action. Check out our services that includes fixing and replacing items at tenanted properties. Damage to a rental property Your tenant should report to you any damage to furniture or fittings immediately. You […]

What to do when your tenant is in arrears

My tenant is in arrears It can be frustrating if you’re owed rent from your tenant. If you’re having trouble ensuring the rent is paid, these guidelines explain how to recover the money owed. In short If after several days the rent hasn’t been paid, then send your tenant a formal demand by first class […]