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Rental arrears a worry for landlords despite rising demand

The year ends on a high note for the buy-to-let industry, as an increasing number of residential landlords say that they are confident in the marketplace. Findings from the December Upad Landlord Confidence Index show that 60% of residential landlords are more confident than last month, up from 54% in November. 404 landlords responded to the question “Are you more confident or less... Read more

Posted by Sue @ Upad on December 13th, 2010 in Property Market, Property Rental

Landlord-Action

How do I manage LHA tenancies?

I have lost money on the last LHA tenancies I’ve taken on. I just served Sec 8 on the last one who owes me £1800 and I’m not confident of any recovery. Local Authority seems always to side with tenant so I’m not going to take on any more. Do you have have any tips on creating & managing successful LHA tenancies? To fully answer this question would take at least a few hours. However, our... Read more

Posted by Landlord Action on August 30th, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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Landlord-Action

My tenant’s left owing me rent: what do I do?

Realistically, what are your options if your tenant does a runner leaving the property in a poor state and owing rent? In a perfect world, landlords will have completed thorough due diligence on the tenant prior to the start of the tenancy. Using a reputable tenant referencing company to obtain a report on your tenant is a must. It is also important to gather key documents prior to the... Read more

Posted by Landlord Action on August 23rd, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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Landlord-Action

How could we make referencing more accurate?

Why doesn't somebody in the letting industry run a database where comments about tenants and landlords can be made so as to make referencing more meaningful? This can be quite difficult since there must be some sort of control and regulation to avoid abuse. Before we know it, there could be tenants and/or landlords suing each other for defamation. However, Landlord Action do flag up serial... Read more

Posted by Landlord Action on August 16th, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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Landlord-Action

How do I ask my tenants to leave if they’re not paying rent?

The best way to go about asking a tenant to leave is by following the letter of the law. At Landlord Action, we strongly advise against taking shortcuts because this is likely to cause landlords more problems at a later stage. When one of our landlords wants a tenant to leave, depending on the circumstances (for example, there might be rent arrears, the property may be damaged, the tenant... Read more

Posted by Landlord Action on August 10th, 2010 in Evicting Tenants, Rent Arrears

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Landlord-Action

What if my tenant stops paying rent?

I have houses - no debts, old family properties. For the first time ever I have someone not paying rent. Should I get solicitor and go to court? This is an option, however, the reason that my business partner and I founded Landlord Action over 10 years ago is because we felt that solicitor's fees were too high and they always took too long to take action. Back then, nobody seemed to be aware... Read more

Posted by Landlord Action on August 5th, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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Landlord-Action

Tenant’s left cash and belongings behind : should I be worried?

My tenant’s left, owing more rent than their deposit covers. They’ve also left belongings behind and some cash. Can I keep/sell those to cover the shortfall? In the ten years that Landlord Action has been trading, we have never heard of a tenant leaving cash, or indeed anything of significant value that would warrant selling the items to cover a shortfall – that would be a first.... Read more

Posted by Landlord Action on July 30th, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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UK’s rents are most expensive in Europe

A new report from Easyroommate.co.uk says that rental prices in the UK are higher than anywhere else in Europe. The average rental cost of a room in a shared house in the UK is £348 a month; the next most expensive rooms in Europe are in France, at £285 per month. James Davis, Upad's CEO, isn't surprised: "students leave university with thousands of pounds worth of debt, and then they're... Read more

Posted by Sue @ Upad on June 30th, 2010 in Property Rental, Upad

When can I put the rent up?

There are three ways for a landlord to increase the rent payable on an assured shorthold tenancy: by agreement with the tenant - this is normally done by issuing a new fixed-term tenancy agreement including the new rent amount. If this is not done, there should at least be some written record of the tenant's agreement to the new amount: e.g. a letter signed and dated by them. If the tenant... Read more

Posted by Sue @ Upad on February 16th, 2010 in Property Advertising, Property Rental

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London Rents Map shows average rental prices in capital

Landlords have a new way to compare the rents they're charging to market averages in London. The Mayor's Office has launched the London Rents Map, where users can discover average weekly rental values by searching on postcode, street, borough or even Tube station. A range of property types - from room to 4+ bedrooms - is covered. The map uses data provided by the Valuation Office Agency, which is... Read more

Posted by Sue @ Upad on December 29th, 2009 in Property Market

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How to set a rent that keeps everyone happy

You found the perfect property, sorted the mortgage, the redecoration and all that paperwork – and now you're ready to find your first tenant. But first, you need to decide what rent you're going to charge them. You'll soon know if you've set the rent too low or too high. Too low, and your phone won't stop ringing; too high, and the only people who'll be calling are telemarketers. How do... Read more

Posted by James @ Upad on October 30th, 2009 in Buy-to-let, Property Advertising, Tips for New Landlords, Upad

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