Using a property manager can seriously eat into your margins. London property managers typically charge 10-30% of the rental value. With these kinds of charges, you’ll be forced to raise the rental value making your property less competitive. It’s easy enough to manage properties yourself. Start by managing one property and then as your portfolio gets larger, you’ll be organised and able to scale the task. Check out our quick guide on how to manage properties.
If you’re a landlord looking to increase margins, then you need to know about co-living. It’s a new market for the UK and savvy landlords are itching to get in on this cash cow rental sector. In this quick guide, you’ll find co-living explained for landlords in full. So dig in!
Just like anything in life, there’s the good and the bad. There are great aspects to being a landlord but there are downsides, too. Check out our pros and cons of being a landlord to decide if it’s for you.
Becoming a landlord is no small decision. It can give you monthly income and allow you to acquire properties that can be used for retirement funds and inheritance. Before you make this huge business, career, and financial decision read our quick guide on things you should know before you become a landlord.
With new tax changes in 2020 squeezing margins for landlords, it’s becoming more difficult to turn a profit each month. It’s important that rental entrepreneurs protect their bottom line. So here are 7 of the best tips to save money as a landlord.
Moving home is stressful enough without wondering if your landlord will return your deposit. Landlords deduct for many reasons. But gone are the days of ruthless landlords who would keep your tenancy deposit, come what may. It’s now law for your deposit to be protected in a government scheme. There, it will stay, until it comes time to move on. It’s at this point you can make sure the property is in good condition and your landlord deducts the correct amount.
There’s no point asking for a full deposit if there are issues with the property. Your landlord may deduct money from your deposit for several things. In this short guide we detail what your landlord can and cannot deduct from your deposit.
Being a landlord is a huge undertaking. It’s not a passive form of income whereby rent money just lands in your bank account every month over and above your mortgage payment. If only! Landlords have several concerns heading into 2020. Here we list landlord’s biggest worries.
Renovating properties to let them to tenants can be a great way to buy a property cheaply and increase the value of your investment. However, there are lots of mistakes that landlords, and particularly new landlords make. Follow these tips to renovate perfect rental properties which withstand wear and tear and are appealing to prospective tenants.
Like everything in life, you may as well be better at something than just getting by. You can be a better landlord by taking some simple steps. When you’re a better landlord, your tenants will be happier and are likely to stay longer. Not just that, by following simple steps you’ll be making life easier for yourself.
Some of these tips for being a better landlord are common sense and some you might not have considered.
As with everything in life, things are never quite as simple as you may think. If you’re a new landlord or you’re thinking about letting property as a career or side hustle, there are hidden costs that you need to budget for. If you only account for mortgage costs when setting a rental value you could be in for some nasty surprises down the line.
Before you even advertise your property for rent you need to account for several hidden costs. You need to be in a financial position to deal with the unexpected costs you may encounter. This means you should always have a contingency fund. As a rule of thumb, it’s recommended that you have around 30% of your gross annual rental income set aside to deal with hidden costs such as advertising for new tenants, repairs, and redecoration.
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