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Posts Tagged: Renting

Are You Trading Profitably?

When you purchase an investment property to let out, presumably you are doing so to make money. If you have bought the property with the assistance of a capital and interest buy-to-let mortgage you will, at very least, be looking for the rental monies to cover the mortgage repayments and any other related expenses. If you have bought an investment property outright from savings you will be looking for the rental income to provide a greater return than you were getting in your savings account and also cover the expenses involved in renting out a property. It is interesting to hear that, according to the National Landlords Association (NLA), there are 27% of landlords who own and rent out a single investment property who are either trading at a loss or are breaking even. Furthermore, 19% of landlords who own between two to four investment properties that they rent out are either loosing money or are just breaking even. These statistics are concerning and, in some cases, it begs the question as to how much research and planning some landlords have carried out when assessing the viability of a particular property as to its suitability for renting out. It would…

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…

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…

The Pros And Cons Of Renting To Families

When it comes to renting out a property one of the things that you need to decide is which sector of the rental market you prefer to operate within. For instance, do you favour renting to those on housing benefit, to students or what about to single people or families? Let’s have a look at some of the positive and negative factors of renting to families – those families with two adults and a couple of young children living in the property. Positive factors If you are fortunate enough to have found a tenant who always pays their rent on time and keeps your investment property in pristine condition then you would probably prefer that they remain in your property for as long as possible. Well, you tend to find that families prefer to stay in a rental property for a longer period of time than say a single person. The main reason for this is that the family unit is often looking for some stability in their lives. The children may well be settled in local schools and make many friends in the locality in a relatively short period of time. One could also argue that a family tenant…

Renting v Buying

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Having made the decision to leave your parent’s home to set up on your own or with a partner one of the next decisions that you will need to make is whether to buy or rent a property. It will not come as a surprise to you to read that there are a number of factors that you will need to take into account in order to make such a decision. So, let’s have a look at some of the things that you will need to consider: – Investment When you buy a property to live in, you are investing in the future in so much as you will hope that the value of the property that you own will increase in value. The equity that you hopefully build up over a number of years could be used to your benefit should you decide to move upmarket or it could be used to supplement your income if you were to downsize when you retire and use some of the sale proceeds towards supporting you in retirement. However, if you were merely to rent a property, you would not benefit from any increase in the value of the property as the…

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