June 10th, 2013
The buy-to-let sector is booming with landlords tempted by lower house prices, rising rents and improved mortgage deals. Homeowners can no longer rely on house prices rising steeply, but with rental yields on the up, taking advantage of high tenant demand and low supply is an increasingly popular option. Continue reading »
May 22nd, 2013
Residential investors and landlords in the UK are not factoring in the costs of owning a buy to let property with a contingency fund and this is leading to an upward trend in repossessions, it is claimed.
Recent statistics show that one in five repossessions during the first three months of 2013 were on buy to let properties, according to the Council of Mortgage Lenders. In the last quarter of 2012, landlord properties represented 12.8% of the repossessed total. Continue reading »
March 1st, 2013
Landlords in London could be spending over £8k a year to let their property, research from BDRC Continental reveals.
Maintenance, insurance, professional service fees and other running costs can amount to over £8,000 every year in inner London – and that’s not including the mortgage! Continue reading »
February 25th, 2013
One in 10 buy-to-let homes will be unlettable in five years’ time unless landlords take steps to improve their properties’ energy efficiency.
New laws that take effect in 2018 will make it an offence to let out properties with the worst energy efficiency ratings. Such properties are much more common in the private rented sector than among owner-occupied homes or those rented out by councils or housing associations.
Tenants will also be able to demand improvements to insulation from 2016, when landlords will not be able to refuse tenants’ “reasonable” requests for energy efficiency measures. Continue reading »
January 30th, 2013
Landlords are key market for ECO stallers under Green Deal, experts say:
— Energy Saving Trust research shows high private rented sector demand for green measures upgrades —
— Solid wall insulation is key – nearly half of private rented homes could benefit[1] —
— Energy Saving Trust’s data and insight to help installers target inefficient rented homes —
Tenants in private rented housing want to go green – but are LEAST likely to be benefiting from energy efficient, money saving upgrades, new research from the Energy Saving Trust has found. Continue reading »
January 23rd, 2013
October 25th, 2012
October 1st, 2012
Since 1 October 2012 authorised Green Deal assessors and providers can offer ‘whole house’ property assessments and discuss packages of improvements with householders. From 28 January 2013 Green Deal finance plans may be agreed. You can find out more, including how to book an assessment, from the Energy Saving Advice Sercice (ESAS). In addition, Green Deal Quick Guides can be found on the DECC website.
According to the Department of Energy & Climate Change “the private rental sector has the highest proportion of least energy efficient homes – 5.8% of G-rated properties compared with 3.4% in owner-occupier.” It appears that this sector has the most to gain from the Green Deal, both for tenants and for landlords. The Green Deal will enable households to improve the energy efficiency of their properties so less energy is consumed and less money is wasted. For tenants this means warmer, more comfortable properties to live in that suffer from less condensation and damp than a cold, poorly heated property. As a result tenants may in future actually look for properties which have benefited from a Green Deal upgrade as they will have smaller energy bills.
Any landlord wishing to upgrade their property using a Green Deal loan must obtain the written permission of their tenant or undertake the works when the property is void. Landlords will also be unable to refuse a tenant’s reasonable request for energy efficiency upgrades funded through Green Deal or ECO by 2016. Taking into consideration that from 2018 it will be illegal to let a property that does not have a minimum EPC rating of E, this could be an ideal time to make any necessary improvements. Landlords with Affordable Warmth eligible tenants may be able to get insulation work for free as well as be able to apply for a new free boiler or boiler repair if the existing boiler has broken down.
RentPro helps you to streamline maintenance. With any works that are carried out on the property RentPro can assist you with keeping track of these works from the initial request for work through completion of the work by your suppliers, to charging the landlord for the complete maintenance service your agency is providing, relieving them of the hassle that poorly managed maintenance can often spell.
June 15th, 2012
New research shows that the average length of time a rental property is unoccupied in the UK rental property is three weeks, the longest period since the beginning of 2011.
The figures come from the Association of Residential Letting Agents (ARLA) which is suggesting landlords take action to avoid these empty ‘void’ periods. “Void periods can cause uncertainty and affect overall rental yields,” said
Ian Potter, Operations Manager at ARLA. “While they are a fact of life in the rented sector, there are simple steps that landlords can take to help reduce the chance of a property being untenanted for extended periods. These periods without occupancy can also give a landlord a useful window to carry out routine maintenance and any additional work designed to make a property more attractive for incoming tenants.”
Read the full story at the Independents Blog
RentPro property management software assists you in fostering good tenant – landlord relations by allowing you to easily keep in touch either via text message or email from the system; assists with tracking any repairs and maintenance from initial request for repairs through to tracking payments to suppliers; and even allows you to market the property on your own website, property portals and produce brochures which can be either printed off or emailed to prospective tenants. Why not try RentPro for free for 14 days to see for yourself the benefits it can bring to your agency.
May 24th, 2012
Private tenants across England are paying higher energy bills than home owners, the Royal Institution of Chartered Surveyors has said.
In a new report into how dwelling types and lifestyles can affect energy expenditure, the RICS says that private tenants pay £31 more a year than home owners, and £90 more than tenants living in social housing.
The RICS says that those who own their own property are more likely to effectively insulate and modernise heating facilities than private landlords, and says there is a lack of incentives for private landlords to make improvements.
Read the full story at Letting Agent Today
RentPro property management software allows you to fully manage any maintenance work that is being carried out on any properties. Providing a full maintenance service can even provide a lucrative revenue stream for your business.
