Rental Management for Landlords Archives | Blue Crystal Property Management

How to be an Effective Landlord

A practical guide to managing your rental property with confidence, compliance, and care Article Summary Understanding how to be an effective landlord goes beyond collecting rent. It involves meeting legal requirements, maintaining your rental property, communicating clearly, and treating tenants with respect. This guide walks you through how to be an effective landlord; the key […]

How to be the best property manager

Being a property manager is very demanding. Owners, tenants, contractors, colleagues … someone is always trying to get a hold of you. You also need to possess many different skills to balance everyday tasks and responsibilities. Being a property manager can also be very rewarding if you are able to put in place boundaries and […]

What is vacant property management?

Vacant property management is for property owners who need assistance with the running of their home, and who spend time away from their property. Many of property owners enjoy the reassurance that their property is being well cared for while they are away, and is also ready for them when they arrive back, without incurring the significant costs of engaging a full-time housekeeper.

How to avoid tenancy void periods?

If you asked any landlord to name their biggest problem, they would say void periods. Some void periods are inevitable. There are periods where you need to update the property and it has to be unoccupied. When your property is unoccupied with no rental income is what we call the void period. Make sure you are proactively keeping an eye on your letting agent or stay proactive yourself in marketing your property. Letting agents tend to have many properties to rent and make sure they have not put your property at the bottom of their list. Stay in regular contact with your letting agent and ask for updates. Ask how many viewings have been carried out, anybody may be interested in making an offer, get the feedback. Are people put of by the rent or the condition of the property? If you keep getting the same feedback then you need to take action and make some changes.

Landlord Insurance Explained – Residential Property Management London

Landlord insurance is a definite consideration for anyone renting out their investment property. Even with the best intentioned tenants, everything may not go all that well through out the tenancy. You may have accidental flooding and failed rent payments, the right cover would provide a peace of mind. There are many types of landlord insurance, there are a combination of different insurances, tailored to fit the needs of individual landlord.

9 signs of a good tenant – How best to manage my property?

1- Pays the rent fully and on time A good tenant pays the rent on time. The landlord-tenant relationship revolves around regular rent payments in exchange for a place to live, and paying the rent on time. Most likely, the landlord depends on the rent to make the mortgage payment on the rental property so a late payment would be an inconvenience.

Unexpected costs of being a landlord

Sometimes landlords underestimate the costs involved in letting out their properties. Estate agency fees Many estate agents change 8-10% per annum for finding a tenant, it doesn't generally end at the agency finding you a tenant, you may be liable for paying for the finders fee year after year of the tenants tenancy. You may also be liable for paying a deposit registration fee.

How can you keep your tenants happy with your property management

How could you keep your tenants happy? It takes time, effort and money to attract the best tenants for your rental home, it would make sense to start it off well and keep them at your property as long as the relationship is functioning in harmony. How can you attract the best tenants? We have prepared a list to check with to ensure you are doing the right things.... Be openly explain to your tenants the rules of your rental home at the beginning of the tenancy, if they don't know them, they can not follow them. Tenant screening check list Make sure you walk and talk through your property with them, provide them with a property you can be proud of, how you maintain the property says a lot about you and the tenants you will attract. Repairs must be taken care of immediately, it is one the main issues that a tenant has when the landlord does not deal with them or takes their time.

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%.

Long Distance property rental for expat landlord property management

Making Long-Distance Property Management Work For You Supervising a rental property from a distance can be difficult, but it’s do-able. With trustworthy tenants, you might discover having an out-of-town property to be no more work than having an in-town one. Whatever the case, make it easy on yourself by being prepared for emergencies, maintaining regular communication with tenants, finding reliable repairmen, or opting for a property manager to supervise your property. Find out how to make your property more attractive to tenants 1- Ask Someone to keep an eye on your property Flats are shared dwellings, any misbehaviour of your tenant can theoretically be reported to the local council and block management company and leaving you with issues to deal with. What are block manager responsibilities A house offers more privacy for your tenant though gives them plenty of room to disobey rules. It would be wise to select a neighbour to keep an eye on your property. If there is a problem such as vandalism, unsociable behaviour etc. your property manager or yourself would be notified immediately. How to ensure buy to let success 2- Select decent maintenance companies Maintenance, repairs, and other complaints all come to you as the landlord of a rental property. When you are out-of-town, you have to find other ways of dealing with these situations. You need a handyman, electrician, and a plumber you can rely on. If there is ever a leak or electrical problem that needs to be fixed immediately, you can call them to get the job done immediately.

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 ensure buy to let success with tenant management

How does let to buy work uk In this post, we would like to share with you some basic information on how does buy to let work. Also, you’ll find our top 10 tips to ensure buy to let success. 1. Choosing the right property at the right price Investing in the property market is usually all […]

Expat guide: Tax implications: renting out your UK home- Residential Property Management London

Many expats rent out their UK properties instead of selling them when they move abroad. This can provide income, make sure they have a base to return to and make it easier to obtain further mortgages later on. It can be tempting to cut out the middle man, find tenants and manage the maintenance and rent collection yourself – thus saving agency fees. 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. In addition, when tenants move out, inventories must be carried out, repairs done and the return of the deposit negotiated.

Tips on keeping tenants happy – Rental Property Management

How to Keep Tenants Happy! It is known fact that it takes significant time and money to attract and retain good tenants. It just makes good business sense to strive for happy, long term tenants in your rental properties.