Category Archives: Rentila

Posted in Rentila.

The Difference Between a Holding Deposit and a Tenancy Deposit

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 Last updated 03/04/2023
The Difference Between a Holding Deposit and a Tenancy Deposit
Summary
  1. What is a holding deposit?
  2. What Is a Tenancy Deposit?
  3. What Is the Difference Between the Two Deposits?
  4. How Does the Tenancy Deposit Scheme (TDS) Work?
  5. Legal Requirements for the Holding Deposit and Tenancy Deposit?
  6. How Rentila Can Help Independent Landlords With Their Deposits
  7. Frequently Asked Questions
  8. Things to remember

Every independent UK landlord has undoubtedly heard of holding deposits and tenancy deposits. However, do you understand the differences between the two? Although they’re both payments made to landlords by tenants as part of a tenancy agreement, there are some key distinctions that every landlord should be aware of.

In this article, we’ll explain the difference between a holding deposit and a tenancy deposit, as well as provide helpful advice on managing them both.

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Posted in Advise, Rentila.

Common Causes Of Stress For Landlords

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 Last updated 15/12/2022
Common Causes Of Stress For Landlords
Summary
  1. Finding a property
  2. Finding a tenant
  3. Choosing tenants
  4. Knowing your legal responsibilities
  5. Handling maintenance issues
  6. Common causes of stresses for landlords: Things to remember

If you are considering becoming a landlord because you think it will be a stress-free experience as you sit back and collect rental income, then think again.

Being a landlord can be just as stressful as a 9-5 job. Sure there’s no boss to order you about being a landlord. Still, similarly, a day job doesn’t involve putting down a serious amount of your income and being responsible for monthly mortgage payments for years.

This blog covers what causes landlords the biggest headaches and a few tips to help.

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Posted in Rentila.

What Do Tenants Look For When Renting

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 Last updated 01/11/2022
What Do Tenants Look For When Renting
Summary
  1. Location and transport links
  2. Security
  3. Open plan space
  4. Outdoor space
  5. Fitted appliances
  6. Good condition
  7. Pet friendly
  8. Things to remember: What do tenants look for when renting

As a landlord (possibly with a few properties), you may know what you like and think you know what your tenants want. But at Rentila, we have our finger on the pulse of what tenants are looking for in a rental property. So read on to ensure you keep up with current rental market trends.

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Posted in Advise, Rentila.

Should You Renovate Your Buy-to-let Property

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 Last updated 31/05/2022
Should You Renovate Your Buy-to-let Property
Summary
  1. The decision to renovate
  2. Minimal renovations
  3. Ways of renovating – Up, down or sideways and things to consider
  4. New kitchens and bathrooms, furnished or unfurnished?
  5. Hiring a Contractor
  6. Things to remember

Choosing to renovate a buy-to-let property is an entirely different decision from remodeling a home. If you decide to renovate a family home, that’s more to do with a family’s need for space. But when it comes to buy-to-let property, decisions should be based on financial circumstances. So, if you are currently in a quandary as to whether you should renovate your BTL, sit back for 5 minutes and let us help you out with the number crunching.

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Posted in Advise, Rentila.

Pros and Cons of Self Managing your Rental Property

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 Last updated 09/02/2023
Pros and Cons of Self Managing your Rental Property
Summary
  1. PROS of self managing
  2. CONS of self managing
  3. Things to remember
  4. FAQ’s

So, you are starting out on building your buy-to-let empire. You have a property ready for tenants to rent, but should you manage the property yourself or leave it in the trusted hands of a professional?

With over 19% of UK homes occupied by renters, it’s no surprise that rental management is a hot topic. Well, just like most things in life, there are pros and cons of self managing your rental property. If you are undecided, take a moment to read our short guide.

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Posted in Advise, Rentila.

9 Steps to getting a Mortgage for your BTL

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 Last updated 21/04/2022
9 Steps to getting a Mortgage for your BTL
Summary
  1. Save up
  2. Cut back on spending if need be
  3. Check your credit report
  4. Work out how much you wish to borrow
  5. Choose your mortgage type
  6. Get your paperwork ready
  7. Enlist the help of a mortgage advisor
  8. Pick a suitable property and submit your application
  9. Receive your mortgage offer
  10. Things to remember

Some lucky people (like the Queen) own property outright—and lots of it! But many buy-to-let investors start with little more than a mortgage on their first BTL property. So if you want to explore the best way to start a portfolio and get a mortgage, read on!

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Posted in Advise, Rentila.

The Advantages And Disadvantages Of Off-plan Purchasing

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 Last updated 02/03/2022
The Advantages And Disadvantages Of Off-plan Purchasing
Summary
  1. What is off-plan purchasing?
  2. The benefits of off plan purchasing
  3. The disadvantages of off plan purchasing
  4. Things to remember

If you are looking to build a buy-to-let portfolio, then off-plan purchasing is one way to do just that while potentially maximising your investment. If you haven’t heard about off-plan purchasing before, take a few minutes to read this guide. We give you the lowdown on what off-plan purchasing is, as well as the possible pitfalls and benefits. So let’s dig in.

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Posted in Advise, Rentila.

Why Invest In Buy-to-let Property

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 Last updated 16/02/2022
Why Invest In Buy-to-let Property
Summary
  1. What is buy-to-let?
  2. An overview of investment opportunities
  3. Why buy-to-let property is a good option in 2022
  4. What to look out for
  5. Maximising your buy-to-let property investment
  6. Things to remember

In this guide, we look at whether a buy-to-let property is a worthwhile investment. In terms of saving with a bank, one of the best deals you can get is around 2% in a long-term fixed account with no access to your cash. Meanwhile, by April, the inflation rate will probably hit 6%, which means you are losing money hand over fist. So if you are looking to build up a nest egg, then maybe you should consider investing in property.

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Posted in Advise, Rentila.

7 Tips For Buying Your First Buy-to-let Property

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 Last updated 01/12/2021
7 Tips For Buying Your First Buy-to-let Property
Summary
  1. What’s the why?
  2. What’s the exit plan?
  3. Do I have the time?
  4. Am I cut out to be a landlord?
  5. Location, location, location
  6. Calculate your operating costs realistically
  7. Know your legal obligations
  8. Things to remember

You might have read some blogs, and you are itching to go as a landlord. As you’ll know by now, you need to be careful with your investment, know the law, have a network of tradesmen, find and build a rapport with trustworthy tenants and document your financial activities correctly. It’s no easy task.

If you are considering the pros and cons of buying your first buy to let property, here are 7 of our top tips for doing just that:

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Posted in Rentila.

Traits of Successful Landlords

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 Last updated 01/11/2021
Traits of Successful Landlords
Summary
  1. Professionalism
  2. Respect
  3. Integrity
  4. Clear communication
  5. Understanding
  6. Ability to prioritise
  7. Organisational Requirements
  8. Things to remember

We hope that if you’ve read previous blogs, then you’ll know there’s far more to being a landlord than getting a great mortgage deal, finding a tenant and sitting back to count your cash.

It’s a business like any other but carries significantly more risks than most businesses. If it goes wrong, you stand to be in a difficult situation with possibly several empty properties and being responsible for several mortgages. If you fall foul of regulations, you could find yourself in hot water legally. So there are far more opportunities out there that have less serious consequences.

Successful landlords have several traits which make them effective at running a property portfolio. Even if you are just starting out with your first property, these are things that you can learn and will stand you in great stead for the future.

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