Interesting question isn’t it - ‘Would you really drop rents?’ I know that for many landlords the answer to this question is a definite ‘No’, but I think it really needs to be thought about more carefully, and the benefits and drawbacks carefully scrutinised.

I have dropped rents in the past and here is the criteria that I consider when a tenant tells me they are struggling to pay the rent: (more…)

On Tuesday 11th November I gave a talk to members of York Residential Landlords Association. I brought up the subject of rents and asked how many landlords were finding that they were increasing rents in the current economic climate. The results were as follows:
 
0% were dropping rents

5% were increasing rents

95% were keeping rents the same. (more…)

Graham Beale, the CEO of Nationwide Building Society believes that housing prices will continue to hit new lows during 2008-09 and possibly in 2010 too.  (more…)

Despite a year of falling property prices, British parents are still buoyant about the property market in the years to come. This was evident from a study which showed that nearly half of British parents have offered financial assistance to their grown up offspring to help them to get on to the property ladder.

The study was carried out by market research firm BDRC. The study revealed that 40 percent of parents over the age of 45 believed that investing in the UK property market will give secure returns to their children in the future. (more…)

Landlords across the UK should be prepared for spending more pounds on maintenance and repairs in the coming months as meteorologists are forecasting a pretty chilly winter season.

Landlords are advised to let their tenants know in advance of required safety measures to prevent any unforeseen expenses in maintenance and service. Of all the risks associated with damages related to winter, the biggest is the freezing of pipes, in case the temperature dips below the freezing point regularly. (more…)

The financial meltdown and the resultant credit crunch have hit many prospective buyers across the UK. As a result an increasing number of people are now opting for rented property. This is quite rampant in parts of London where private dwellings are in abundance. Many of those looking for rented property have high expectations of their landlords.  Around less than a year ago the majority of people were still buyers but now the tables have turned. (more…)

Being a successful landlord has a lot to do with how you manage your tenants and your money.  Maintaining detailed tenant information:While this seems simple enough at first glance, in reality most landlords spend more time on this activity than they actually realise. The fact is that every tenant engagement has some unique angle to it, whether it is a special clause in the agreement or a different rent payment schedule. A landlord usually relies solely on his experience to try and keep all this information intact, but it is really the best way to manage tenant information? (more…)

When you are buying a property with the intention to rent it out, it is mandatory to carry out a Gas safety inspection before you let it out. There are other checks too, but this is the most important. A failure to get the inspection done could result in large fines, and in the event of an unfortunate incident, you could even face manslaughter charges and a prison term. (more…)

Buying a good insurance policy is vital to make sure your business is protected in both good times and bad. An insurance policy that covers a buy-to-let property is similar to that of a standard home insurance policy. But there are a few important points you should note…

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When you have a property that’s up for rent, it might make sense to organise a multiple showing, or an open house. This is especially true for residential properties.
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