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Monthly Archives: March 2014

Where To Obtain Landlord Insurance Quotes?

Should you be in the throes of buying your first investment property to rent out, one of the things that you will no doubt wish to arrange is landlord insurance to protect things like the building and contents you are going to place in the property. It may not be a legal requirement to do so but it is a sensible course of action to take. In which case, you are probably wondering where is the best place to obtain one or more landlord insurance quotes. It should not surprise you to read that, as with most things in life, there are a number of options. It is worth noting that there are not as many companies that provide landlords insurance as there are that arrange ordinary house insurance on a private residential property but it is still important to shop around to try to find the best deal. Of course, when we say: ‘ best deal” we are referring to trying to get the exact level of cover that you require for the lowest premium. You may find that these do not go hand in hand. So, let’s have a look at some of the places where you can…

How To Vet Tenants

Making sure that you have got the perfect tenant occupying your rental property is not an easy thing to achieve. Getting it wrong, sadly to say, can prove costly as your property could be left in quite a state. Landlords tend to have their own process for vetting tenants whether doing it himself or herself or using a letting agent. There are no doubt some experienced landlords out their who just go on their “gut feeling” when meeting a prospective tenant for the first time but there is a lot to be said for having a set vetting process in place. Below are a few suggestions that you may wish to consider. Tenant Referencing Companies You can go on the Internet and find companies that provide a tenant referencing service. This could include them doing a credit reference search on the prospective tenant and contacting their previous landlord for a reference. A fee is obviously payable. Checking Identification and Verifying Address You can do both these things by seeing their passport and/or photo card driving license and looking at things like utility bills and bank statements. Landlord’s Reference You could write to any previous landlord(s) to enquire as to their…

The Pros And Cons Of Letting To Students

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One of the decisions that you will need to make when deciding the type of property you want to buy to let out and where you would like to buy it, is what sort of tenants you prefer. Yes, it goes without saying that you want a tenant that is no trouble, keeps the property clean and tidy and always pays the rent on time. So, let’s have a look at where the student fits into this equation. Advantages of letting to students Well, there is certainly an ever-increasing supply of students as more and more decide to go to university. Of course, in their first year, many will choose halls of residence and some will continue to live at home with their parents but there are still significant numbers looking for private lettings. Students are very forgiving when it comes to the standard of accommodation. They do not expect nor could they afford to live in a property that is beautifully decorated and fitted out with an expensive kitchen and white goods. Therefore, you can afford to just give it a lick of paint and put in a budget kitchen. The furnishings can be cheap and cheerful being fit…

Landlord Tips

There is an awful lot to think about if you are embarking into property investment with a view to letting out the property so we hope that the following tips for landlords will prove informative whether you are either considering such a venture or have already entered the lettings marketplace. Rental Potential There is absolutely no point in purchasing a property to rent out unless it is going to provide you with a good return on your investment. In this respect, you should seriously consider seeking the advice of a number of specialist letting agents to get their opinion on both its suitability as a rental property and the level of rental income it might command in what is a very competitive marketplace. References Unless the prospective tenant is well known to you, ensure that references are obtained. Tenancy Agreements Even if you were going to let the property to your best friend or a relative you should make sure that a formal tenancy agreement is drawn up between all parties. We have heard of a number of instances of this not being done and problems occurring as a result. It is just not worth the risk. Landlord Insurance Whilst…

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