Property Management W4 Archives | Blue Crystal Property Management

How to assess wear and tear at your rental property

It’s vital that a landlord has a comprehensive inventory with supporting photographs and videos at the end of a tenancy, especially when it comes to assessing what damage caused by the tenant is unreasonable and what might be considered ‘fair wear and tear’. Wear and tear is a fairly simple principle but can cause landlords a great deal of trouble unless they understand how it differs from wilful or negligent damage caused by the tenant and what level of costs can be proposed at the end of the tenancy. A certain amount of wear and tear is unavoidable in rental properties. Over time as tenants live in homes, some damage will occur. This isn’t a result of abuse or neglect by your tenants, meaning they can’t be held responsible for it. However, sometimes tenants do cause an unacceptable level of damage to furniture, fixtures and fittings which they’re liable for under the tenancy agreement.

What are the most common landlord mistakes

Overpricing the rental value Vendors will often talk up the rental value of their property, but landlords can easily check the actual value by talking to estate agents and checking properties on the market. In a highly price sensitive market, seeking an inflated rent will mean the property remain will remain vacant while the outgoings continue. Price it right at the beginning rather than reducing it a few weeks down the line. Poor presentation and cheap furniture People rent as a lifestyle choice, perhaps they can’t afford to buy. Many tenants will rent on long term basis. They want a property that feels like home, If the property is not looked after by the landlord, tenants will treat it badly or move into a better property. Good furniture lasts longer and presents the property better.

What are development finance pitfalls?

It is vital to make smart desicion when developing a property, it is not all about chosing the right development loan. There are common mistakes that even the most experienced developers can make. Here is a guidance list to follow Shop the market Every lender will give you different loan amounts and different pricing structures. By shopping around and speaking to non-bank lenders, you’ll have far more visibility of the best available deals. Putting down a large deposit can be avoided, simply by finding a more generous loan offer with an alternative lender. This can free up funds for investment in other schemes and bigger sites, and prevent or reduce hefty profit share payouts to investors.

Buy to let mistakes

In this article, we talk about property investment 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 […]

Evicting a tenant and recovering the rent

How to evict a tenant for non payment of 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 […]

How to evict a tenant in the UK: the 4 steps of the tenant eviction process

How to evict your tenant with your London Property Management? So what steps should you take to make this happen.......and stay in control.