If your current property is in a good location, for example, a busy student area or close to good transport connections, then you may want to consider converting it into an HMO. The good news, HMO’s provide more people with affordable accommodation, while generating a rental income increase of four to five times your current return – compared to a single tenanted property. If you are considering converting your property into an HMO, here are five tips to do it easily. Tip 1: HMO Licensing A critical legal aspect of letting an HMO is getting the right licence. To check if your property needs to be licenced, you can contact your local council. Or speak to us… we provide our clients with an HMO Licensing service, which includes applying for the local Council’s property licensing scheme on their behalf. The HMO licence will need to ensure that the property: is […]
landlords
Renting in London: Top 10 Tips to Finding Your Next Home
Although London is a brilliant place to live, work and study, it has the highest rents of any city in the world. However, because there are so many people wanting to rent in London, the rental market can be competitive. The good news is, if you spend time researching, you will find flats that are good value and located in a good location. We’ve put together these top tips to save you time, money and stress when you are searching for your next home. Tip 1: Before you start your search, write a list of your essential criteria. Be clear on what is important to you and your family, such as: What transport links are close by? Do you need parking? Do you want to live in a flat or a house? Are you happy to live in an HMO? Tip 2: create a list of suitable locations. But never assume that […]
Things You Should Know Before Managing an HMO Property
But you may not know exactly what is involved in managing an HMO on your own. This article gives you tips on what you need to know about managing an HMO. Tip 1: HMO Licensing A critical legal aspect of letting an HMO is getting the relevant licence. If you’re letting an HMO, it’s highly likely you’ll need some sort of licence to ensure that the property: is safe for tenants to live in is in good condition has an adequate number of smoke detectors has appropriate fire exits has enough sinks, cookers, baths and toilets for the number of tenants is well managed To check if your property needs to be licenced, you can contact your local Council. Or speak to us about our HMO Licensing service, which includes applying for the local Council’s property licensing scheme on your behalf. Tip 2: Safety Compliance There are various compliance measures you’ll […]
Coronavirus Advice for Landlords
We hope you and your family are staying safe during this uncertain time. We acknowledge it is a challenging time for both Landlords and Londoners living in the private rented sector. The good news is that the Mayor is working to ensure renters get the support they need from the Government to help them through the coronavirus pandemic. There have also been discussions of giving vulnerable tenants grants to help them clear their arrears and pay their rent to their landlords. The Government emphasised that if a tenant or renter is having difficulty paying the rent, landlords should help them by setting up an affordable repayment plan. This article gives ideas for landlords tackling this uncertain time, especially as the threat of a potential second wave of coronavirus is imminent. Financial Help for Landlords (extended): As part of the Government’s response to the coronavirus emergency, banks and lenders agreed to […]
How Many Bedrooms Should Your Buy-To-Let Property Have?
When choosing to purchase a buy-to-let investment, you need to take a few factors into account, including the size of the property. Although it’s true that the more bedrooms you have in your property, the more tenants you can have; it’s doesn’t mean that you will have the best yields with a larger property. Single Family Properties If your property is being tenanted by a single family, then two-bedroom properties offer the highest yields, according to recent research by the lettings management platform, Howsy. The research indicated that the yield per property size, for a single family property, was as follows: Two-bedroom properties yielded a 4.8% return One-bedroom properties in London yielded a 4.6% return Three-bedroom properties yielded a 4.5% return Four-bedroom (or more) properties yielded a 3.6% return Benefits of a Small Property If your budget is low, then a small property is beneficial as the yields are competitive. […]
Benefits of Giving Your Property to Help with Social Housing
If you have a property, then you probably know that long-term renting is a reality for many Londoners due to the high cost of home ownership. But if you’ve struggled to find quality tenants or reduce your rental vacancies, then maybe letting your property to help social housing is a solution. As landlords ourselves, we want to help ease the housing crisis in London. It’s our vision to provide ingenious, innovative housing solutions, while helping our clients. That’s why we’re an authorised supplier of properties to local authorities in London, as well as members of the London Landlord Accreditation Scheme and members of the Property Redress Scheme. Our goal is to provide homes to local authorities within the London boroughs to help families in need. Introducing the Reka Property Home Finder Scheme The REKA Property Home Finder Scheme is a program that helps landlords to immediately let out their properties […]
WHY BUY TO LET IS HERE TO STAY
Investors and landlords have faced several challenges recently including: new rules making it harder to evict problem tenants the loss of buy-to-let tax relief on mortgage interest repayments and temporary lockdown due to COVID-19 …which has led them to reduce their property portfolios or put their growth plans on hold However, our research indicates that buy-to-let is here to stay with opportunities for investors willing to have a longer-term strategy over the coming five to ten years. This blog summarises why buy-to-let is here to stay and what the long-term strategy ideas you may need to consider. Why buy-to-let is here to stay? Demand for housing in London has exceeded supply for more than two decades, which has increased rental demand. Research from the “English Housing Survey”, indicated that the number of UK renters doubled in the past 20 years to over 20% of the population living in the Private […]
Why Female Entrepreneurs Invest in Property
Up until recently, the number of female entrepreneurs was low. However, research conducted by HSBC in 2016, indicates that 59% of entrepreneurs under 35 years of age are female. What’s more, the number of UK female entrepreneurs investing in buy-to-let properties has increased. This is evident from research done by RW Invest that revealed an increase of 140% of females searched properties in 2018. So, why the increase? Women are more financially independent than in the past. And they are focused on achieving financial goals. Although the number of women in business is increasing, there is still a pay inequality gap. This means women are seeking ways to boost their income and are using investing to do this. Out of all the various types of investments, buy-to-let properties are seen by women as low-risk, compared to shares, bonds or cryptocurrency. Real estate and especially, buy-to-let properties can provide a solid […]
How To Convert Your Property into a HMO
A house in multiple occupation, better known as HMO, is a property that is rented to three or more tenants, who aren’t part of the same household, that share amenities. The good news, HMO’s provide more people with affordable accommodation, while generating a rental income increase of four to five times your current return – compared to a single tenanted property. If you are considering converting your current property into an HMO, here’s what how to do it. Step 1: Location, location, location Before you consider converting your property to an HMO, check that it is in the right location. For example, a busy student area or close to good transport connections. Step 2: HMO Licensing A critical legal aspect of letting an HMO is getting the relevant licence. If you’re letting an HMO, it’s highly likely you’ll need some sort of licence to ensure that the property: is safe for […]
What is Bespoke about our Property Management Services?
As property investors ourselves, we understand the importance of property management as well as potential challenges. We started this business to combine our love of property, local knowledge and bespoke service to provide our clients with solid rental returns and peace of mind.That’s why our promise to you is that we look your property the way we look after our own.After all, we know what it feels like when your property is vacant, or when you let out the property to unruly tenants. We are aware of the maintenance issues, the risk management, the regulation changes and the increase in costs and expenses you face.That’s why we provide our clients with bespoke property management services to ensure we take care of your property to provide you with maximum rental return. Our Bespoke Property Management ServicesBecause we are as passionate about property as you, our bespoke service is designed to maximise […]
