The idea of being a landlord is very appealing. It conjures up notions of being able to sit back on rental income and never have to work again. But that’s not true – and if that’s what you thought being a landlord is all about – then it’s probably best you reconsider.
Generally speaking, tenancy agreements, once signed, are binding. It’s not necessarily straightforward to change a tenancy agreement, such as would be required if the landlord is interested in adding or removing a person or persons to the terms of the agreement.
House in Multiple Occupation (HMO) refers to a property that is inhabited by more than one separate occupant. They are becoming more and more popular in the UK and in other countries around the world because of the opportunities they offer to their landlords. By renting out one property in separate portions to different tenants, a landlord can generate a decent income in rental yields monthly.
So you’re thinking about renting out a property, but the world of insurance feels confusing. Is landlord’s insurance really necessary? And can you simply rely on your current homeowner’s policy?
If you’re renting out a property, you’ll need to provide a tenancy agreement. However, there are many types of tenancy agreements, so it can be confusing to know which one to use. After reading this five-minute guide, you’ll be confident you know which contract you need.
In this article, we share six simple tips to help landlords choose the right letting agent to work on their behalf.
You’ve made the ideal investment and have furnished your rental property. You’ve checked the references of your soon-to-be tenant. But you also want to take a security deposit to protect yourself from any damages down the line. Here’s the lowdown on what you need to know.
Selecting the perfect tenant for a rental property in the UK is an important job, but that doesn’t mean it’s easy. There’s a lot to take into account to find great tenants; due diligence should be your top priority. After all, the last thing you want is to wind up in a situation where the tenant doesn’t pay the rent, and you have to enter into a prolonged dispute period. Here are four steps you can take to ensure that the tenant you end up choosing will be a good fit for your property. The ideal tenant will pass each of these steps one by one, but they’ve been designed to weed out poor candidates.
In an ideal world, no landlord would ever have to end a tenancy early. Unfortunately, however, we don’t live in an ideal world, and as a result, ending tenancies early is something that both landlords and tenants have to be prepared for. Given that it happens so often and for so many reasons, there’s a lot of confusion out there when it comes to what the specific precedent needs to be in order to comply with UK law. A single Google search throws up thousands upon thousands of results, meaning that for landlords and tenants both, the topic can be overwhelming at times.
A property inventory is a record of all the things that you own in your house. There are a number of different homeowners who will want to make sure they perform a property inventory before getting on with selling their place. Regardless of whether you’re a landlord with a number of properties, a private owner looking to rent out their apartment for the first time, or somebody who makes a living renting houses, it’s vital that you have an exhaustive list of every single item in the property.