Housing 1

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

Posted by Simon @ Upad on March 30th, 2012 in Ask Upad, Property Investment, Students, Tips for New Landlords

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A slump in student numbers is bad news for landlords

A decrease in student numbers could be bad news for landlords who have been relying on the student market. With fees of £9000 a year on the cards for undergraduates starting their studies in autumn 2012, it seems that there could be a significant drop in the number of young people choosing to go to university. Figures released by UCAS, the organisation that administers university admissions,... Read more

Posted by Dan @ Upad on October 28th, 2011 in Ask Upad, Tips for New Landlords

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Property viewings: nobody does it better than landlords

Showing prospective tenants around your rental property, really couldn't be easier. So, why do so many landlords leave this vital task to other people? Lettings agents and others very often don't make a very good job of viewings. Here are four good reasons from Upad on why landlords should bite the bullet and do their own property viewings: Landlords know best. You really do know your... Read more

Posted by Dan @ Upad on October 28th, 2011 in Ask Upad, Finding Tenants, Tips for New Landlords

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Upad on the Road: Sheffield, Huddersfield, Plymouth, Weston Super Mare, Cardiff

Next week, Upad CEO James Davis will attending and speaking at several meetings of the Guild of Residential Landlords. If you're close to Plymouth, Cardiff or Weston Super Mare, do come along and say hello. You can find out all about these meetings on the Guild website. Upad will also be at two other events organised by the National Landlords Association. The first on Monday in Sheffield will... Read more

Posted by Dan @ Upad on October 20th, 2011 in Ask Upad, Should I use Upad?, Tips for New Landlords

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Ask Upad: My tenant has filled the front garden with junk.

Q: I rent a small unfurnished family home to a couple and their kids in Bristol. The tenants have been with me for several years and have been no problem really. Recently I noticed that they have been gradually filling the small garden with junk. It started with a few chairs and boxes, now the collection includes a grubby old mattress, disintegrating chest of drawers, an old telly and a small... Read more

Posted by Dan @ Upad on October 14th, 2011 in Ask Upad, Tenant Stories, Tips for New Landlords

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Get your Energy Performance Certificate sorted with Upad

With all the confusion surrounding what's going on with EPCs (Energy Performance Certificates), you can do worse than have a bit of help from experts well versed with the law. Energy Performance Certificates tell prospective tenants how energy-efficient your property is, and how high their heating bills are likely to be. They’re similar to the A-G ratings found on new fridges and washing... Read more

Posted by Dan @ Upad on October 7th, 2011 in Ask Upad, Energy Performance Certificates EPC, Tips for New Landlords

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kitchen

Ask Upad: Do I need to include kitchen utensils and the like if I let my flat as “furnished”?

Q: I'm renting a flat for the first time and have a question. Do I need to include kitchen equipment if I advertise the property as 'furnished'? I don't know what the legal requirements are. A: Furnished and unfurnished (and even part-furnished) are rather amorphous and unhelpful terms when it comes to lettings. There isn't a legal definition to guide landlords and tenants. In practice,... Read more

Posted by Dan @ Upad on August 23rd, 2011 in Ask Upad, Tips for New Landlords

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Ask Upad: should I let my BTL property as a student house or family home?

Q: I have just recently completed and bought a 4 bedroom house in my town as a Buy to Let investment. But I am unsure whether to let it as a family home or transform it into a student house. The property is in need of some repair and renovation, so either is possible. I just need some ideas, as I weigh up the pros and cons. What would be the best route for maximum profits? A: You ask a big... Read more

Posted by Dan @ Upad on August 18th, 2011 in Ask Upad, Property Rental

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Ask Upad: Do I have to rehouse my tenants whilst repairs take place?

Q: A nice couple with a child has moved into a small two up, two down house I let out. I was happy to get them in to the property and they seemed pleased too. However, it was only a few weeks into the tenancy that they said they thought there might be a leak under the ground floor laminate flooring. I thought this unlikely at first, but on closer examination I see that he's correct and it... Read more

Posted by Dan @ Upad on July 25th, 2011 in Ask Upad, Landlord Insurance, Property Rental, Tips for New Landlords

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Ask Upad: How many tenants does it take to change a lightbulb?

Q: For years, I’ve wondered who is responsible for the light bulbs in my rental property: is it me as the landlord or the tenants? My experience differs from tenant to tenant. Sometimes they will automatically change a light bulb when it blows and other times they call me up and expect me to change it for them. Who is right? A: We’ve heard lots of stories about light bulbs, including... Read more

Posted by Dan @ Upad on July 19th, 2011 in Ask Upad, Property Management, Property Rental

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Ask Upad: My tenant challenges the deposit deductions

Q: A tenant recently vacated a property I’ve been renting out for about 5 years. On check out I discovered a huge red wine stain on the living room carpet. She’d been in the flat for a year. The carpet is completely ruined and will need to be entirely replaced. The deposit is with a deposit protection scheme and I have proposed to deduct the cost of replacing the carpet but the tenant is... Read more

Posted by Dan @ Upad on July 13th, 2011 in Ask Upad, Property Rental

Checklist

Ask Upad: What sort of records does a landlord need to keep?

Q: I have recently started letting a property in Birmingham but I don't know what sort of records I need to keep. Can you help? A: There are some records that you're required as a landlord to keep by law. The most complex regard your tax records and accounts like with any other enterprise. You'll probably need to file a self-assessment tax return so you'll need full records of income and... Read more

Posted by Dan @ Upad on June 30th, 2011 in Ask Upad, Landlord Legislation, Landlord Tax, Tips for New Landlords

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Ask Upad: Will taking in lodgers make my house an HMO?

Q: I live in a four bedroom house and am considering taking in two lodgers to boost my income. None of these lodgers would be my family members. What's the situation when it comes to taking in lodgers and being an HMO (House in Multiple Occupation)? What are my responsibilities and rights? As a live-in landlord, if you are taking in two lodgers, neither of whom are related to you, then you... Read more

Posted by Dan @ Upad on June 28th, 2011 in Ask Upad

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Ask Upad: My tenant bodged a repair. Can I charge them for it?

Q: A tenant I have was experiencing problems with their toilet flush. Rather than get in touch for me to organise a visit and sort it out, they attempted to repair it themselves and bodged it. The result is that the entire ballcock and flush mechanism needs to be replaced. Can I charge the tenant for this damage to the property?  A: Technically, you could easily argue that the botched... Read more

Posted by Dan @ Upad on June 9th, 2011 in Ask Upad, Property Management, Tips for New Landlords

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Ask Upad: My social tenant is in arrears, how do I get direct payments?

Q: I rent a flat to a couple who receive Housing Benefit. They have fallen into arrears and I want to take action to have the rent they get paid directly to me. The tenants themselves are not being very communicative but obviously I still have expenses to meet. What do I do to get their rent paid directly to me? A: Local authorities must make direct payments to landlords if a tenant has rent... Read more

Posted by Dan @ Upad on May 25th, 2011 in Ask Upad, Housing Benefit, Rent Arrears

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