Guides

Tenancy security deposits – a landlord’s guide

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Tenancy security deposits – a landlord’s guide

Security deposits are standard practice when letting out properties, they don’t need explaining but, in short, they cover landlords for any unexpected costs from things like damage or rent arrears. Not all tenants will respect the property and you need to be covered for that. Of course, this doesn’t cover anything that can fall under legitimate wear and tear. Furniture breaks because it is old, boilers stop working and paintwork fades. As a landlord, you need to budget for these costs. It is not a legal requirement to take a security deposit, but if you do you are required by...

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How to value property for investment

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How to value property for investment

It might seem easy to work out the value of a property. You can check with several different estate agents what they think about local prices, search online and with the Land Registry, or even ask neighbours to the property about things like crime and living in the area, but there is more to consider. You need to find out what the property is REALLY worth in that area, away from what the seller is wanting you to pay to discover the real value. If you are investing in property the more knowledge you have, the more chance you will...

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Top tips to rent your buy-to-let property quickly

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Top tips to rent your buy-to-let property quickly

You’ve gone through the process and secured the perfect buy-to-let property, invested in improvements and now all you need is some paying tenants to push things forward. Depending on the area your property is in, the state of the market and demand at any given time there is guarantees as to how quickly you will secure tenants. You can take some simple actions to increase your chances of a quick transaction. Empty months can be catastrophic for landlords, with a two to three-month period without rent coming in often completely eradicating cash flow and increasing the chances of the property...

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Tips for creating an HMO

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Tips for creating an HMO

Buying a property to let as a House in Multiple Occupation (HMO) can be a great investment, and have become increasingly more popular with landlords and tenants in recent years, especially in larger cities. Landlords are often able to acquire greater monthly yields and higher monthly profits that leasing out a whole house to one tenant. As such the return on investment can be higher with an HMO. Of course, with multiple tenants comes more paperwork, more admin and a raft of legal rules and regulations to provide each tenant with what they need. Meeting your legal obligations and providing...

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Legal costs of buying a commercial property

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Legal costs of buying a commercial property

When purchasing a commercial property there are many i's to dot and t's to cross to secure the sale. It is so much more than picking a property and paying for it, the legal costs of buying a commercial property add additional financial strain to the process if you are not aware of them. Arranging the legal paperwork, conveyancing and other legal aspects of the sale will need the help of professionals that come with associated costs. Employing a commercial property surveyor (a chartered surveyor) will make the process easier, identifying issues early and examining the terms and property value...

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