LANDLORD NEWS AND ADVICE FROM UK'S LARGEST ONLINE LETTING AGENT
The latest from the world of lettings and written for landlords. Top stories, advice, commentary and analysis...
Keep the discussion lively, if you read an article and have some thoughts, please comment. We’re always looking for new landlord tips and stories so if you have something you’d like to share please let me know, simon@upad.co.uk (editor).
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Vetting tenants
Finding a long-term responsible tenant who respects your property and pays promptly isn’t all about luck. There’s a science to it too. Key tips Ensure you meet tenants personally before letting to them. Professional comprehensive tenant referencing is essential. If you have any doubt about tenants, secure a guarantor. Showing tenants around your rental property is your chance... Read more
Case study – how to present your property: South Ealing, W5
Our case study property of the week is a PassivHaus in Ealing, West London. PassivHaus properties are extremely energy efficient with a typical energy consumption of under 15kWh. This could mean for an average size PassivHaus, an energy cost of just £25 per year to heat the property. The landlord has used this unique selling point well in their listing. As a result tenants were found within 5... Read more
The perfect listing
In the world of property advertising, bad first impressions don't just last, they ensure that second impressions are never made. The aim is to grab the tenant's attention so they click on your listing to see a more detailed view. Here's how to go about that: Make sure your summary description (the part that appears in tenants' search results) is right on the money, as this will be the... Read more
Only 15% of tenants want to meet agents when viewing properties
Landlords who do not handle their own property viewings could be missing a trick according to our new research. Following the long held simple belief that landlords are better than agents at showing tenants around their properties, we asked 382 tenants from across the UK if they agreed and discovered that a mere 15% would rather meet an agent for a viewing than deal directly with the... Read more
Case Study – how to present your property: Halifax, HX4
About the property… It is a beautiful 4 bedroom house situated in the West Yorkshire countryside. At £975/month it is an expensive property for the area, but because of its character, luxurious interior and close proximity to major road links, it should attract a good amount of tenant interest. The borough of Calderdale is not particularly affluent with 17% of residents experiencing... Read more
Legal and safety requirements
What you need to know to keep tenants safe, and yourself on the right side of the law: EPC Since 2008, it has been a legal requirement to have an Energy Performance Certificate, or EPC prior to letting your property. This certificate, which costs £70+vat, tells prospective tenants how economical it is to heat and light the property, with an “A” grade being most efficient and a “G”... Read more
Tenancy deposit (case study)
Tenancy deposits are used to secure against unpaid rent, damage to the property, or unpaid utility bill. If there is a dispute over how much of the deposit should be returned to the tenants, it is referred to the Tenancy Dispute service. Here is a typical case: A garden was left in an "unsatisfactory" state at the end of a tenancy, with weeds, overgrown plants and long grass. A clause in the... Read more
Tenancy agreements: everything you need to know
A tenancy agreement is a contract between a landlord and a tenant that gives permission for a tenant to live in a property for a certain period of time as long as they abide by certain rules. As a landlord you need to make sure you have the right agreement for your property to be properly legally protected - one that is appropriate for the type of let, covers any special requirements for your... Read more
Commercial property: what you need to know
Commercial property is a wide-ranging sector incorporating shops, warehouses, factories and shopping centres. The quality of the occupant is key for reliable rental payment and trouble-free income. Robert Farago, chief investment officer at Schroders Private Bank, said that amid the turmoil in financial markets, "the UK commercial property sector has been an oasis of calm...even if there is a... Read more
HMOs: what you need to know
According to the Government's website, the definition of a House in Multiple Occupation — HMO for short — is, “if you let (or plan to let) to at least three tenants who form more than one household and who share (or will share) toilet, bathroom or kitchen facilities”. Put simply, if you're renting a property out to three or more tenants who are not members of the same family, it is... Read more
Buy-to-let property types
In order to be a successful buy-to-let landlord, it's important to know who you are renting to and what they want. Below is a list of the major types of tenants. Young professionals People in their 20s and 30s who are starting their career and don’t have a family. Generally, they are looking for a property that is better quality than their student homes, but not too expensive. They are likely... Read more
Short-term lets
The definition of short-term letting, is renting out your property for anything from a few days to six months. Rents are higher to make up for the increased void periods: for a three-month let, you can expect to charge 40 to 50 per cent more than you would a longer-term let. The shorter the term of the tenancy, generally, the more expensive it gets. What to buy? Somewhere central in a city with... Read more
Student housing
According to Paragon Mortgages, student lets typically outperform any other type of rental: landlords can expect to earn an average income of 6.45%, compared to 5.94% if you were renting to young professionals. Even taking into account tuition fees, demand for this type of property is likely to remain strong. Clearly, this is a potentially lucrative form of letting, but you need to do your... Read more
Case Study – How to photograph your property: STRATFORD, E15
Our case study of the week shows you how to improve your listing, simply by changing the property photos. By taking heed of some photography tips, you can make your property stand out more on the listing sites. BEFORE: The photos here are taken from reasonable angles, but there is a lack of light present in the shots. To best show off your property, photos need to be taken when the... Read more
Case Study – how to present your property: HOLLAND PARK, W14
Our case study of the week is a rather nice 2-bedroom apartment in Holland Park. Holland Park is a popular area for wealthy City professionals, looking for an upmarket home. While it’s easy to make a property like this look good, there are listing features used here that can make any property stand out on the lettings sites: Professional photography: can make your property look more... Read more
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Recent Comments
- Steve Frost: A really useful and interesting blog post, thanks for sharing these useful tips I am sure Landlords as...
- Karl: As a landlord, I never use Agents. They only want to get the earliest tenant so that they can get paid a large...
- Barry Danser: I always feel that Alarm systems have to be put in. Morally or legally its crucial that you or your...
- A Harding-Smith: We never do anything but interview our own tenants and manage our own properties. Now we have found...
- Sharon Crossland AIRPM: This is great news but I’ve yet to see a landlord (apart from one) even visit their own...
