If you’re a new landlord, you may find that managing your property can seem overwhelming. Firstly, you need to know how to take care of your property, so you maximise your rental return and profit, which includes the following activities: Ensuring the rent is at market price Screening tenants to ensure they’re suitable Collecting rent from tenants Keeping tenant vacancy rates low Consistent communication with tenants Providing maintenance and repairs Managing the budget Secondly, you may still be dealing with the pandemic impacts… extra commercial cleaning needed socially distanced property viewings dealing with changes to eviction notice periods difficulty in securing good quality tenants … that’s why we’ve put together a list of 7 tips for stress-free property management to help you navigate the operation, control, and maintenance of your new investment properties. Tip 1: Create a Strong Online Presence If you want to secure good quality tenants, you need to […]
property investment
HMO Conversion Essentials… What You Need to Know Before Converting
Whether you’re a new landlord looking to buy a property to convert or an experienced investor planning to convert a current investment property into an HMO, you need to be aware that conversions can be challenging, as well as rewarding. Of course, the many benefits of converting an existing property to an HMO include: increased rental return multiple tenants leading to a reduced risk of vacancies tax advantages with a reduction in VAT potential increased property value creating affordable accommodation for tenants …however, there are some essentials you need to know before you consider converting an existing property to an HMO. Depending on the features of your property, converting it into an HMO can be a compelling investment with very profitable rental yields, but it does require more work and maintenance. Essential 1: Is it the Right Property? The first essential item to consider is whether the property you want […]
How to Significantly Increase Your Rental Return
If you are looking for an investment that will give you a high rental return, then you may want to consider HMO’s. An HMO (house in multiple occupations) is a property rented to three or more tenants who aren’t part of the same household that share amenities. One of the key advantages of investing in an HMO is that it will generate a rental income increase of three to five times a standard buy-to-let home. The other good news is that HMOs provide more people with affordable accommodation, which is important to help ease the London housing crisis. If you are considering investing in an HMO, here’s what you need to know. Step 1: The Right Property The first step is to invest in an HMO that has been converted and is returning solid rental returns or find a property to convert into an HMO. If you want to convert […]
Landlords Secure a Cash Bonus When Helping Vetted Tenants Get Their Own Home
You may be aware that Brexit and coronavirus have made it difficult for tenants to find good quality London property to rent. Although many people left the city for a lifestyle change in the countryside, the trend is shifting. Over the past few months, the demand for rentals has significantly increased. The reason for this is that people are looking to return to London. Plus, domestic and international students are returning to campus. What’s more, the type of rental property is limited as most tenants are searching for the same sort of property… a place with enough space to work from home with a garden or terrace. Finally, thousands of people have lost their jobs, had their income reduced or lost their homes during the pandemic. Now they are struggling to find a suitable home to rent within their budget. What’s the solution to this housing crisis? Introducing the Reka […]
The 7-Step Guide to Being a Responsible Property Manager
Whether you are a new landlord, or if you have owned property for years… it’s good to know your property management responsibilities. That’s why we have put together our 7-step guide to be a responsible property manager. The Essentials of Property Management Property management is about taking care of the investment property to ensure you maximise your rental return. This involves the following activities: Setting rent at the market price Screening tenants to ensure they’re suitable Collecting rent from tenants Keeping tenant vacancy rates low Providing maintenance and repairs to ensure the property is safe Consistent communication with tenants Managing the income and expenses associated with the property 7-Step Guide to be a Responsible Property Manager Below are the key steps you need to be aware of as a Property Manager: Step 1: Screening potential tenants You need to ensure that you use a rigorous screening process to find the best […]
The Beginners Guide to Converting Your Property into an HMO
If you are considering converting your current property into an HMO to increase your rental income while providing more people with affordable accommodation, here’s how to do it. Step 1: Plan First Before you consider converting your property to an HMO, check that it is in the right location for an HMO. Ideally, your property should be in a busy student area or close to good transport connections to attract tenants. Step 2: HMO Licensing When you convert your property to an HMO, you’ll need an HMO licence to ensure that the property is safe and compliant. We recommend that you contact your local council before planning your conversion to find out what you need to include in a compliant HMO property. If you want assistance with your application, you can talk to us about our HMO Licensing service. This service includes identifying what is needed in an HMO property […]
Pros and Cons for HMO Investment
You may have seen HMO investments increasing in popularity, even with recent legislation changes and COVID restrictions reducing rental demand in some areas. Before you decide if it is best to invest in an HMO instead of a standard buy-to-let property, we want to bring you the pros and cons of HMO investments, so that you can decide. Firstly, what is an HMO? An HMO is a ‘multi-let’ rental property with three or more tenants, not from one household/family, that share amenities. This can include: A house which is split into bedsits or units A house, or flat share, where each of your tenants has their own tenancy agreement Students who live in shared accommodation The pros: One of the most significant advantages of investing in an HMO is that it will generate a rental income increase of three to five times a standard buy-to-let home. The property will help provide more people with affordable accommodation. Cash flow […]
Pros and Cons for the Rent2Rent Strategy
There has been media speculation recently about whether Rent2Rent is a feasible investment option. We’ve collated information to bring you the pro’s and con’s of Rent2Rent so you can decide. What is Rent2Rent? Rent-2-Rent is when a property is let on a single let basis to one person (say the head-tenant) who has been given the right to sub-let some or all of the rooms, by the landlord. Rent2rent companies or head tenant will probably live somewhere else and will have the responsibility to sub-let the rooms to separate tenants, usually four or less. They will be responsible for paying the property’s single let rent and the bills. They will make profit by pocketing the difference. The Rent2rent or head-tenant provides the landlord with a guaranteed rent, meaning that even if the property is vacant, they will be responsible to pay the agreed letting amount to the landlord. Why would […]
What to Expect From the Rental Market in 2021?
Now that we’ve put 2020 behind us… an unpredictable year in property due to the pandemic and the uncertainty of Brexit’s impact… we can look forward to seeing what this year holds. To find out if there will be growth in the rental market in 2021, we’ve researched the property predictions. Here is our summary. 1. Renting will remain a popular choice The rental market performed quite strong in the last half of 2020. Interestingly, in some locations, demand in the rental market was nearly 20% higher than in 2019. Our research shows that renting will continue to increase in 2021. This is due to ongoing job uncertainty pushing people to rent instead of buy. Once COVID restrictions ease, international students will likely return, and workers will be able to return to their offices, in some capacity. This is expected to see an increase in demand for rental accommodation. 2. […]
Five Tips to Convert Your Property to an HMO
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 […]
