In the age of online property searches tenants can instantly find every property that suits their needs in a matter of seconds, so standing out is a huge task and many landlords think that a selection of professional photos of the property will be the key to securing the maximum amount of interest.
For most people becoming a landlord is a conscious decision. Maybe they have money to invest or are looking to establish a business with a portfolio of properties. For these individuals, they fully intended to become private landlords and financed their properties accordingly.
If you have a property to let, a loft conversion can be a great way to attract tenants, by creating extra living space from the unloved attic. It can also add potential revenue in the short term, and then again in the future if you decide to sell the property.
With rising house prices and dormant wages, one out of every four households in the UK is expected to rent privately by the end of 2021.
Referencing is a hugely important part of finding tenants. Private landlords need to do all they can to ensure the tenant who lets their property is trustworthy, reliable and can afford the rent. Referencing is the only way a landlord has of checking a tenant's employment status, creditworthiness and character.
Tenants face paying an average of £23 a month more in rent, totalling £414 across a typical 18-month tenancy, as the average monthly rent of £918 is set to rise by 2.5 per cent in 2018.
When a tenant moves into your property it is natural for them to want to make it their home. This will mean surrounding themselves with possessions, moving the furniture around and adding their own personal touches.
As a private landlord, you will inevitably find yourself compiling a list of trusted contractors to whom you can outsource repair work and servicing. Decorators, handymen (or women) and gardeners will all be on speed dial. As will gas engineers and electricians. You will find plenty of work for all the tradespeople in your contacts book as the years roll on and tenants come and go.
To celebrate MakeUrMove working more closely with the National Landlords Association, we are pleased to present an interview with NLA London Representative, Landlord, and Broadcaster Richard Blanco.
It may surprise some private landlords but the majority of tenants do want to meet them before they move into a new rental property. Though there are plenty of landlords who aren't too keen.
The General Data Protection Regulation (GDPR) comes into force on the 25th May 2018. GDPR represents a new standard by which businesses - including landlords - need to deal with personal information about tenants.
In our opinion, landlords have always needed to take a long-term view, but, in the current market conditions, investments horizons may be needed to be stretched even further.
