Latest Property News - Homelets & Sales

Details: Published: 02 February 2021; Hits: 985

PROS OR CONS: IS A MANAGING AGENT WORTH YOUR MONEY?

It takes a certain character to be a managing agent: the job has a reputation as a thankless task with days full of complaints, emergencies, breakdowns and hassle. And if we’re honest, rarely does anyone call with news that everything’s just fine.

But to be a managing agent is also to be the person who makes everything right. A property that never needs maintaining, or where nothing ever goes wrong, simply doesn't exist and emergencies rarely happen at a convenient moment: not for homeowners, not for tenants and certainly not for landlords. For a managing agent, they’re an expected part of the day.

Whether you’re an existing or budding landlord, you’re right to keep an eye on your outgoings. You might even have questioned whether a managing agent is really worth the expense. But do you include the personal costs as well? How much do you value your time and how you spend it?

This week’s blog is not to convince you to use a managing agent, but to show you how life could be if you did. From inspections, maintenance and easier accounting, to keeping you on the right side of the law and protecting you in the event of disputes, here are five one-minute morsels of how we look after our landlords, and what we could do for you.

Details: Published: 27 January 2021; Hits: 957

LET’S GET ORGANISED: NEW YEAR’S RESOLUTIONS FOR LANDLORDS

From giving up smoking, to a change of diet, to getting in some exercise, now is the time of year when all sorts of new year’s resolutions are being made and declared. Health and fitness are the usual areas we concentrate on, but there are also things to consider in terms of your wellbeing as a landlord.

January always brings about a desire or search for change, so now is the perfect time to examine whether the way you operate as a landlord is entirely good for you. There’s a lot to manage, a lot to remember and a lot to stay on top of, even with just one property (let alone a larger portfolio).

We speak to more and more landlords who find it quite a task to keep abreast of the ever-increasing legislation while also keeping to their regular responsibilities of looking after their rental property and tenants. But we also meet landlords who are doing more than they need to, leaving them less time for enjoying life.

So for the start of 2021, here are five new year’s resolutions to make your life as a landlord easier, more organised and more fun.

Details: Published: 08 December 2020; Hits: 1305

NO VACANCY: KEEPING YOUR RENTAL PROPERTY OCCUPIED

They say that death and taxes are the only two certainties of life. Well, if you're a landlord, you might be feeling that empty weeks at your rental property are an inevitable third.

Vacant days are money lost for landlords, and we meet plenty who feel both entirely powerless and resigned to losing valuable rental income. Aside from the financial cost, if voids become a regular occurrence they can cast a lingering cloud over your tenancies, with the back of your mind never completely free: will your tenant give notice at the earliest opportunity; will you find new ones for a seamless changeover; will you need to carry out repairs or maintenance before new people can move in?

But are void periods entirely down to chance and luck? And is there really no way to influence the number of days your property remains empty? Even though it might be unwise to expect 100% occupation over the lifetime of your rental property, there are undoubtedly actions you can take to reduce the risk of void periods, and even the occasional opportunity to use them to your advantage.

So this week's article focuses on how to keep your rental property occupied in the long term so that voids don't become a regular nuisance.

Details: Published: 24 November 2020; Hits: 989

RIGHT TO RENT: EVERYTHING LANDLORDS SHOULD KNOW

Introduced in 2016, Right to Rent had something of a rocky start but has since become an integral part – and legal requirement – of every Assured Shorthold Tenancy.

The scheme was initially met with some dismay among landlords who argued that checking people's immigration status was the government's responsibility. In fact, in 2019, a high court found Right to Rent unlawful and racially discriminatory, particularly against people with minority ethnic backgrounds. The ruling was later overturned after a government appeal, and Right to Rent became law.

Whatever you feel about the rights and wrongs of Right to Rent, it’s something all landlords must follow, but what exactly does Right to Rent entail, and how much of a burden is it when letting your property?

This week’s article zeroes in on the Right to Rent scheme and what it means for you; how to comply; and the possible penalties for ignoring it.

Read on to discover the finer details of Right to Rent.

Details: Published: 10 November 2020; Hits: 994

ANIMAL INSTINCT: SHOULD YOU LET TO PEOPLE WITH PETS?

How do you feel about allowing pets in your rental property? Or even in your own home? Are you a card-carrying animal lover with pets who cherish your home as much as you do, or are you simply not a fan and want to avoid the worry of possible damages that are a hassle and expense to fix?

Around 44% of UK households have pets, but only around 7% of landlords stipulate that pets are welcome in their properties. That's a large discrepancy for a nation of animal lovers, and the Government is looking to make the UK rental market easier for "responsible pet owners" to find a home.

Back in January 2020, Housing Secretary Rt Hon Robert Jenrick MP, said: "Pets bring a huge amount of joy and comfort to people’s lives, helping their owners through difficult times and improving their mental and physical wellbeing. So, it’s a shame that thousands of animal-loving tenants and their children can’t experience this because they rent their homes instead of owning property."

Given our British love affair with pets, why do so many landlords and managing agents shy away from allowing people with pets to rent their properties? Obviously extreme stories that make the news can be grim reading, but so can those of tenants without pets: good behaviour simply doesn't make good news!

So this week's blog looks at the realities of renting to people with pets: what to know, what to ask, and what to consider. As well as showing you how you can benefit from keeping an open mind, we'll provide useful examples of simple clauses and protections to give you comfort in the decisions you take, and to widen your audience to include this ever-growing demographic.