Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: Squeeze on home buyers’ budgets set to continue into 2024; Housing transactions down 22% year-on-year; Bank of England official hints at interest rate shift as UK faces recession; Sales of 30-year plus mortgages increase 13% in past year; 4 Property investment strategies in 2024; Landlords fear rising costs and rent arrears in 2024; 9 expert predictions on UK house prices, mortgages and renting… Happy reading and… renting!
Tag Archives: Letting
How UK landlords can reduce turnover and minimise vacancy
As an independent landlord in the UK, it’s crucial to understand how to reduce tenant turnover and minimise vacancy.
This comprehensive guide will walk you through the various factors contributing to tenant turnover and how vacancy impacts revenue. It’ll also outline practical solutions and strategies to manage and retain your tenants effectively, ultimately reducing turnover and minimising vacancy periods.
5 things landlords are not allowed to do while renting
- Landlords cannot enter a tenant’s home without proper notice
- Landlords cannot increase rent without following proper procedures
- Landlords cannot harass or discriminate against tenants
- Landlords cannot lock out tenants without going through an eviction process
- Landlords cannot retaliate against tenants for complaining of poor conditions
- FAQ’s
- Things to remember
Are you a property owner who’s recently decided to rent out your space?
That’s great, but you must be prepared for the responsibilities that come with being a landlord. One of the mistakes landlords make when renting is not educating themselves on tenancy regulations.
As much as you’d like to, there are certain things you just can’t do as a landlord. We’ve compiled a handy list of 5 things landlords are not allowed to do while renting their property.
5 Things Tenants Are Not Allowed to Do While Renting
As an independent property owner, you need to find good tenants, set fair rules, and keep everyone happy. However, there are certain things tenants are not allowed to do while renting, and you should know about these to save you from any potential headaches.
7 Common Mistakes Landlords Make When Renting
- Not Doing Proper Tenant Screening and Background Checks
- Lacking Adequate Insurance Coverage
- Not Having a Comprehensive Tenancy Agreement
- Failing to Protect the Security Deposit
- Not Keeping Accurate Records and Paperwork
- Not Understanding Tax Obligations
- Not Staying Up-to-Date With the Regulations
- Frequently Asked Questions
- 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.
Which is more profitable for Landlords: Short or Long Term Renting?
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.
Common Causes Of Stress For Landlords
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.
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.
Top 10 Questions To Ask When Buying A Property
- Why is the owner selling?
- How long has the property been on the market?
- Has the property changed hands recently?
- What is the minimum price the seller will accept?
- Have the seller’s found a new home?
- What is the local area like, and are there any plans that could affect the property?
- Do you have noisy neighbours?
- How old are the boiler, roof, drains and gutterings?
- What is included in the property?
- Can they explain the energy performance certificate?
- 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.
Should You Renovate Your Buy-to-let Property
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.