Landlords

Nearly one-third of property management companies have raised their management fees in the recent past. On average, management fees are now costing some owners of new flats £2,777 every year and those who own older flats are now paying…

Income tax When you start letting property, you must inform HMRC so you can start paying income tax. Failing to pay income tax will result in penalties. If there are previous years for which you owe income tax, you should initiate contact…

Collecting a security deposit isn’t something that is required by law, however, it is something that every landlord should collect for their own financial security. A security deposit is what you, the landlord, can fall back on in case you…

If a property is particularly desirable, it will not stay in the rental market for long. If you’re looking for property together with others, you have to ensure everyone is in a position to make a quick decision in case you find the kind of…

Put down a deposit A holding deposit lets the landlord or agent know that you intend to rent the property so it can be taken off the market. Once you put down a deposit, the letting agent will start the process of getting your references…

Let your Mortgage Provider know If the house started off as your residence but you’re no longer the one residing there, you may not qualify for the same mortgage terms as before depending on the period over which you’ll be renting out the…

Bills left unpaid If a tenant leaves the property without clearing certain bills, the landlord should immediately notify the utility company to ensure that they have the correct readings up to the time the tenant left. If you have the…

Rent The rent is usually the largest expense that comes with private renting. What you pay as rent will depend on the area and type of property you live in. Rent is usually paid in advance i.e. at the beginning of the month. The date when…

According to an analysis of 65000 rental properties by Countrywide, out of all the landlords in the UK, 93% own only one rental property and together they make up 81% of the private rental market. This comes about despite increased…

Owning and managing real estate are two very different things. People who invest in real estate usually expect some sort of returns from it. However, many owners of real estate are not too keen on handling the day-to-day tasks that come…