Monthly Archives: November 2015

If you are a landlord then you may find October 2015’s HomeLet Rental Index of interest as it provides information about various things including how much their new tenants are paying on average per month in rent in different parts of the UK. Below, we highlight some of the statistics. The majority of the regions in the UK have seen average rental income being charged increase in the 12 months to October 2015. On average, rental income rose by 9.7% across the UK during this period from £909 being charged in October 2014 to £997 being charged in October 2015. The exceptions were in Northern Ireland that saw a drop of 2.1% to £588 pm, East Anglia with rental income falling by 1.2% to £809 pm and the North West where rentals fell by 4.9% to an average of £635 pm. The largest percentage increase in the amount of rent being charged on a monthly basis was in Scotland where an increase of 9% was seen from £610 to £665 although this is lower than the average rental for September 2015 of £678 pm. Greater London saw rental income rise by 7.5% from £1,451 pm to £1,560 pm in the…

The majority of landlords provide their tenants with suitable, well-maintained accommodation that is comfortable to live in. So, let’s have a look at some of the other things that makes a good landlord. Tenancy Agreement An Assured Shorthold Tenancy (AST) agreement should be drawn up and signed by all parties. This will cover things like the amount of rent that is to be paid, the length of the tenancy and what each party is obliged to do. Rent Make sure that the amount of rent being charged is reasonable. Charging a tenant a vastly inflated amount each month may result in him or her finding alternative accommodation. Safety It is important that the property to be let out is safe for the tenant to live in. For instance, the gas appliances should be checked by an engineer that is “Gas Safe” registered. The electrical appliances must also be checked annually by an authorized person. Fire alarms should be in good working order. Deposit When the tenant gives the landlord a deposit this must be protected within a scheme that is authorized by the government. Energy Performance Certificate The majority of properties should have an Energy Performance Certificate that shows how…