Tag Archives: Tenancy

Posted in Rentila.

Navigating rent increases: When and how to raise the rent

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 Last updated 19/08/2024
Navigating rent increases: When and how to raise the rent
Summary
  1. Current rental market trends: the latest data
  2. When should you consider raising rents?
  3. How much to increase rents: percentages & formulas
  4. Communicating rent increase notice to tenants
  5. FAQ’s
  6. Things to remember

Growing revenue is essential for landlords to keep up with inflation. One key way to increase earnings is through rent increments. And with recent data showing that UK rents rose by 6.2% year over year, now is the perfect time to increase your rent.

However, you need to maintain a delicate balance between profitability and tenant satisfaction. Factors to consider include local market conditions, legal restrictions, your property’s unique circumstances, and the proper way to notify tenants.

This guide will walk you through the process of navigating rent increases, providing you with the knowledge and strategies to make informed decisions that benefit both you and your tenants in today’s dynamic rental market.

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Posted in Advise.

The pros & cons of pet-friendly rentals

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 Last updated 03/07/2024
The Pros & Cons of Pet-Friendly Rentals
Summary
  1. The benefits of allowing pets in your rental property
  2. Potential drawbacks of pet-friendly rentals
  3. Setting clear pet policies in your lease agreement
  4. Tips for preparing your property for pet tenants
  5. FAQ’s
  6. Things to remember

Pets can make a property feel more like home for tenants, so it’s just intuitive to make some provisions for them if you want to boost your rental income.

However, before you commit, it pays to weigh the pros and cons. Pets can damage property or annoy neighbours if rules aren’t set. But a pet-friendly policy also attracts great tenants who stay longer.

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Posted in Rentila.

5 Things Tenants Are Not Allowed to Do While Renting

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 Last updated 29/08/2023
5 Things Tenants Are Not Allowed to Do While Renting
Summary
  1. Unauthorised Alterations or Damages to the Property
  2. Subletting or Assigning the Lease Without Consent
  3. Failing to Pay Rent on Time
  4. Noisemaking and Disturbing Neighbours
  5. Illegal Activities on the Premises
  6. Frequently Asked Questions
  7. Things to remember

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.

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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, 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 The basics.

How to change a Tenancy Agreement?

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 Last updated 21/09/2021
Change A Tenancy Agreement
Summary
  1. Why Landlords Might Want Changes Made?
  2. Why Tenants Might Want Changes Made?
  3. When And Why Landlords Will Be Required To Make Changes
  4. What To Do If A Tenant Leaves A Joint Tenancy?
  5. Whose Responsibility Is It To Replace A Tenant?
  6. Final Tips

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. There’s no way for one party to force these changes through while still remaining compliant with the relevant regulations specified in UK law. Rather, any changes to the tenancy agreement must be mutually agreed upon by both the lessor and the lessee.

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Posted in Advise, Rentila.

HMO (House in Multiple Occupation) ABC

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 Last updated 02/02/2021
HMO (House in Multiple Occupation) ABC
Summary

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.

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Posted in The basics.

Tenancy Agreements: A 5-minute guide for landlords

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 Last updated 02/02/2021
Tenancy Agreements - A 5-minute guide for landlords
Summary
  1. What is a tenancy agreement?
  2. What are the types of tenancy agreements, and which should I use?
  3. Assured Shorthold Tenancy Agreements
  4. Assured Shorthold Tenancy Agreements (Room only)
  5. Excluded Tenancy Agreements (Lodgers Agreement)
  6. Company Let Agreements
  7. Non-Assured Tenancy Agreements
  8. Assured Tenancy
  9. Regulated Tenancy
  10. Adding additional terms to your tenancy agreement
  11. Important things to remember

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.

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