Posted in Advise, Rentila.

7 Common Mistakes Landlords Make When Renting

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 Last updated 01/06/2023
7 Common Mistakes Landlords Make When Renting
Summary
  1. Not Doing Proper Tenant Screening and Background Checks
  2. Lacking Adequate Insurance Coverage
  3. Not Having a Comprehensive Tenancy Agreement
  4. Failing to Protect the Security Deposit
  5. Not Keeping Accurate Records and Paperwork
  6. Not Understanding Tax Obligations
  7. Not Staying Up-to-Date With the Regulations
  8. Frequently Asked Questions
  9. Things to remember

Being a landlord can be lucrative, but pitfalls can lead to headaches and costly mistakes. With so much to keep track of, it’s easy to overlook a few essential details. Fortunately, there are simple steps to minimise your chances of making a costly error when renting out your property.

Let’s look at the seven most common mistakes landlords make when renting in the UK and how to avoid them.

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Posted in Advise, Rentila.

Spotting the Next Up-and-Coming Area for a Great BTL Investment

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 Last updated 02/05/2023
Spotting the Next Up-and-Coming Area for a Great BTL Investment
Summary
  1. Evaluate Historical Results
  2. Use Local Knowledge to Identify Opportunities
  3. Do Your Research on Local Employment and Demographics
  4. Analyse Rental Prices, Vacancy Rates, and Yields
  5. Take a Closer Look at the Location’s Infrastructure and Amenities
  6. Frequently Asked Questions
  7. Things to remember

Property can be a great way to generate income and increase wealth, but it requires careful research and planning. You need to know how to spot the areas that will offer the greatest return on investment (ROI) and how to manage your properties so they remain profitable.

This article offers five insightful tips to help you find the perfect buy-to-let (BTL) investment opportunity. And by the end, you’ll have all the knowledge you need to make an informed decision about your next BTL investment.

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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.

Best Ways to Improve the Energy Efficiency of your BTL Property

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 Last updated 06/03/2023
Best Ways to Improve the Energy Efficiency of your BTL Property
Summary
  1. The right property
  2. Draught proofing
  3. Radiator valves
  4. Loft insulation
  5. Double glazing
  6. LED bulbs
  7. Smart meters
  8. Things to remember

The cost-of-living crisis in the UK has partly been driven by substantial energy price increases. And that’s bad news for you as a landlord. You might pay for energy as part of the rental price, which means a hefty increase in your overheads. However, most rentals don’t include energy bills, but if your tenants are struggling to pay their energy bills, you might find they can’t pay you the rent on time or at all.

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Posted in Advise.

Buy-To-Let guide for landlords in 2023

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 Last updated 01/02/2023
Buy-To-Let guide for landlords in 2023
Summary
  1. What is Buy-to-Let?
  2. What are The Benefits of Buy-to-let Property Investment?
  3. How to Get on The Buy-to-let Property Ladder
  4. Buying the Property as a Limited Company
  5. What are The Tax and Fees for Buy-to-let Properties?
  6. So, is Buy-to-let in the UK Still Worth it?
  7. Buy-to-let Guide For Landlords In 2023: Key Points

This buy-to-let guide will explain everything there is to know about this investment type, including what it is, the benefits, and how to get started. If you’re considering joining the many buy-to-let investors in property, you must get a good grasp of what you’re signing up for.

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Posted in Advise.

Which is more profitable for Landlords: Short or Long Term Renting?

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 Last updated 27/01/2023
Which Is More Profitable for Landlords: Short or Long Term Renting?
Summary
  1. Advantages of Short Term Renting
  2. Advantages of Long Term Renting
  3. Disadvantages of Short Term Letting
  4. Disadvantages of Long Term Letting
  5. Key Points

Investing in property can be financially rewarding. However, it can have its ups and downs, with many decisions to make. Once invested, landlords face the dilemma of whether to rent short-term or long-term. While long-term rentals are in high demand, short-term rentals can be immensely lucrative. To help make that choice, we will discuss which is more profitable for landlords, short or long-term renting.

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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.

Top 10 Questions To Ask When Buying A Property

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 Last updated 01/11/2022
Top 10 Questions To Ask When Buying A Property
Summary
  1. Why is the owner selling?
  2. How long has the property been on the market?
  3. Has the property changed hands recently?
  4. What is the minimum price the seller will accept?
  5. Have the seller’s found a new home?
  6. What is the local area like, and are there any plans that could affect the property?
  7. Do you have noisy neighbours?
  8. How old are the boiler, roof, drains and gutterings?
  9. What is included in the property?
  10. Can they explain the energy performance certificate?
  11. Things to remember: Top 10 questions to ask when buying a property

When buying a property, you are making a significant investment that could make or break your buy-to-let business. For that reason, when viewing a property, it’s time to put aside that British habit of saying nothing for fear of being nosey or impolite.>

You need to know everything you possibly can. Sellers will be expecting a few possible questions they would prefer not to answer — so don’t be afraid. However, why not direct your questions to the estate agent if you prefer? They can help you get the information you need and perhaps even help you bag a sale at the right price for you.

Read on and bite the bullet with our all-important questions that all buyers should ask.

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Posted in Advise.

Popular Misconceptions About Becoming A Property Investor – Debunked

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 Last updated 01/09/2022
Popular Misconceptions About Becoming A Property Investor
Summary
  1. You need lots of money to invest
  2. Capital growth is most important
  3. Property damage could ruin me
  4. I’m at risk of repossession
  5. Being a property investor is easy
  6. Being a property investor is a great way to build wealth
  7. Property investing brings freedom
  8. Investing in the current climate is risky
  9. Increasing mortgage rates will add costs
  10. It’s hard to sell a property and exit the market
  11. Things to remember

Becoming a real investor is a dream of plenty of people. So many of us hope to have money to invest in property while reaping a second income and potentially having assets to leave as an inheritance for loved ones. However, a heap of popular misconceptions stops countless people from making their dreams a reality. So with that in mind, this quick read aims to uncover the myths from the truth and could be the kick starter for you to become a property investor. Let’s dig in.

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