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Monthly Archives: August 2014

Research Reveals Significant Number of Tenants Are Misbehaving

Did you know that there are around 8.3 million tenants in the UK and quite a few of those are proving to be less than perfect? This is based on research conducted by AXA. Apparently, not far off 60% of tenants have confirmed that they have broken the conditions within their rental agreement. We are sure that you will agree this is a huge number of people and is cause for concern. Perhaps this brings into question the procedures a number of landlords must be following, or not, when assessing the suitability of tenants to take up occupancy in their properties. Another concerning statistic was that about 33% of tenants broke the law as far as renting a property was concerned. This could include things like theft from the owner of the property or committing a criminal offence at the property they are renting. A staggering 10% of tenants admitted to have done a “disappearing act” to avoid making payment to the landlord. We are a nation of pet-lovers but some landlords do make it a condition of the rental that no pets are to be kept at the property. Apparently, 18% of tenants have breached this condition by having…

Furnished or Unfurnished – Which Is The Best?

As a landlord, whether you decide to rent out your investment property furnished or unfurnished is up to you. Your decision is likely to have a bearing on the sort of tenant who will take up occupancy. So, let’s have a look at some of the pros and cons of both types of arrangement as this may help you in making a decision as to your favoured route. Furnished – positives  You will find that the corporate lettings market is going to prefer to focus on properties that are furnished for their executives. As corporate lets are very lucrative, this may have some bearing on your decision. Students almost invariably prefer to move into a property that is already furnished which, again, is a popular sector. There is no doubt that there will continue to be a ready market for student accommodation. It is usually possible to let out a furnished property quicker as the tenant does not need to wait to sort out a removal firm to move their own furniture from the property they are currently living in to yours. As it is likely to save the tenant having to buy furniture it is particularly appealing. A property…

Renting To Single People

Here in the UK, there are a lot of single people looking to rent for the first time. They have probably either made that difficult decision to move out of their parent’s home to find their own way in life or have just spent 3 or 4 years at university and got their first job away from home. Unfortunately, not many single people these days are able to afford a mortgage so this leaves them with no choice other than to rent a room in someone’s house or rent something like a one bedroomed apartment. Obviously, budget is an important factor in their decision making process but most people, it has to be said, would prefer to rent a flat. The “singles” rental market is, potentially, a tremendous opportunity for the landlord to maximize and one that is most likely to continue to prove fruitful long into the future. So, if you are considering entering this property investment marketplace what sort of property should you be considering and what other factors do you need to take into account? Well, you are probably going to want to purchase a fairly recently built one-bedroom apartment as a single person is more likely…

What Sort Of Property Should You Buy To Let Out?

If you are considering purchasing an investment property with a view to letting it out you need to decide what sort of property to buy. As a landlord, your decision will be based upon a number of factors so let us have a look at some of them. Budget Obviously, the amount you have available to spend on a property potentially made up of savings and buy-to-let mortgage will have a huge bearing on your decision. You will also need to build into your costings any improvements/alterations the property may need as well as the possible purchase of furnishings. % Investment Yield In theory, the higher the value of the property, the greater the rental income but the important factor is the % investment yield. For instance, does a property valued at £200,000 provide a lower or greater % investment yield than one valued at £400,000? If it is significantly greater then is it better to buy two properties at £200,000 each as opposed to one at £400,000? You may wish to seek some professional advice in that respect. Detached, semi-detached, terraced or apartment? This decision will, in many ways, depend upon not only your budget but also the type…

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