Buying your first buy to let (BTL) property can be daunting with so many different factors to consider while searching for the perfect investment opportunity. Here are our top tips to help make it easier!
A tenant check out should always be carried out professionally, regardless of your relationship with the tenant. This is the best time to evaluate the state of the property and to work out how much of the deposit should be kept in order to account for any damages and the subsequent repairs. Here are our … Continue reading “Top tips for a smooth tenant check out!”
Sometimes tenants leave behind possessions at the end of a tenancy, or when they abandon the premises. As a landlord, this can put you in a difficult position, whilst the temptation might be to get rid of all items instantly, tenants may later claim that they are irreplaceable or were of high sentimental value, so … Continue reading “How to deal with items left behind at the end of a tenancy”
Stamp duty It is important to remember that the stamp duty system was reformed in December last year to make it more similar to the way income tax works. Under the new system, rather than paying a percentage of the total property price, you will pay different rates for different bands. For example, you won’t … Continue reading “Landlords – watch out for these buy-to-let tax traps!”
Cases of reported fraud increased by over 25% last year with men in their mid-40s most vulnerable, according to the UK’s fraud prevention service. A total of 276,933 frauds were recorded last year – that’s 758 frauds every day or 31 every hour. This figure is up from 221,075 in 2013, with 23% of fraud … Continue reading “Landlords warned to protect themselves as cases of fraud up by 25%”
As the UK begins preparing for the upcoming general election, parties are beginning to piece together their manifestos, with all of them hoping to sway voters, one of the most important demographics is likely to be the private landlord. With an increasing number of people renting, landlords will have a keen eye on individual party … Continue reading “How will the general election affect landlords?”
Making up excuses to avoid paying the rent, followed by keeping pets without permission, are the most common secrets that tenants in the UK don’t want revealed, according to a new survey. An online report by letting agent PropertyLetByUs revealed that some 63% said they had made up excuses to try and avoid paying their … Continue reading “Landlords – what secrets are your tenants keeping?”
When taking out a landlord insurance policy, your insurer will need to know the rebuild value of the property to be insured. Put simply, the rebuild cost of your rental property is the amount it would cost to rebuild it from scratch were it destroyed completely. The figure should include the cost of materials and … Continue reading “What landlords need to know about rebuild costs”