Another Test

Posted on February 13, 2012 by admin

Homecheck OK Tested

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Posted on February 10, 2012 by admin

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Landlords need to be aware of their responsibilities

Posted on February 2, 2012 by admin

Those letting a property for the first time need to make sure they are aware of what their responsibilities are as a landlord.

Recent figures from the Young Group revealed that around 80 per cent of landlords expect rents to increase in 2012, continuing a trend seen last year and likely to tempt many new investors into the buy-to-let market.

David Lawrenson, private rented sector expert at landlord advice site LettingFocus.com, notes that "more people are getting into it and letting property".

However, many may do so without fully realising the level of responsibility this brings. "It is not easy and there is a lot to know," said the expert.

He recommends using the services of lettings agents UK to help landlords meet their various obligations.

While investing in and letting a property can prove to be a profitable venture, particularly with rents currently so high, Mr Lawrenson warned that there are a number of things that can potentially go wrong if someone goes into the private rented market without first doing their research.

"One thing to note of course is bad tenants or tenants from hell – tenants who don't pay the rent," he said.

"You also have a legal responsibility to know your legal duty to do certain things. You have to maintain the property properly and have gas safety checks done. It is not that hard, but they need to be aware of what their responsibilities are."

His comments follow recent advice from the Association of Residential Letting Agents, which advised landlords to make sure they carry out referencing of tenants before offering them a tenancy agreement as this can help avoid taking on those who may be more likely to fall behind with their rent.

A survey of member agents by the organisation found that, in the final quarter of 2011, over 39.2 per cent reported an increase in tenants struggling to pay their rent, up from 36.7 per cent the previous quarter.

Homecheck UK can help landlords understand their legal duties for their rental property portfolio. From gas safety certificates to energy performance certificates, contact us to help you get it right and cover your legal liabilities.

Rents to ‘keep going up’ in most parts of the UK

Posted on February 1, 2012 by admin

Investors in buy to let property could see rents continue to rise in many parts of the country this year, it has been predicted.

According to the National Federation of Property Professionals (NFOPP), while there will be some regional variations, the lack of supply and high tenant demand that helped increase rents throughout 2011 is likely to continue into 2012.

The organisation's chief executive Peter Bolton King said that many of the NFOPP's members had reported "a real shortage of property", increasing to a "desperate shortage" in some areas.

"In those areas it has caused rents to go up through supply and demand and because tenants are staying in properties longer and are not moving out," he commented.

"The demand is there and the supply is a problem, therefore in many areas I think that rents will keep going up – not everywhere though."

The expert explained that difficulties in getting a mortgage had left many people with "no option" but to turn to the private rented sector, meaning that the rental market will "continue to move forward" this year.

Furthermore, while demand may drop off in the longer term, Mr Bolton King sees the private rented sector continuing to enjoy rude health for some time to come.

"Generally the demand is there for rental property and that is not going to disappear," he said.

"All of the research that has been done shows that over the next ten-plus years the growth in the private rented sector is going to continue."

His comments follow a report released this week by the Young Group which revealed that 19.1 per cent of landlords added at least one new property to their portfolios last year spurred on by rising rents and capital growth.

It also found that 16.2 per cent of landlords are considering purchasing new assets over the coming 12 months.

Homecheck UK specialise in rental property services, including property inventory company and property inventory clerk services.
Our staff are trained to NFOPP and AIIC standards. We will help you prepare your buy to let property for the discerning tenant in today's rental market. Whilst the private rented sector is a growth industry, we have to counter this with the poor sales market which creates accidental landlords. In some areas the availability and choice of rental properties outweighs the availability of tenants. Landlords need to realise this and ensure that their property has a competitive advantage. We'll cover these items in another article.