Renting is no longer only for the young

Daniel LeesTenant finding0 Comments

News flash: renting is no longer only for the young. More than half of tenants are now over 30 and a third of them have children, according to the English Housing Survey. Thanks to Britain’s housing crisis, older renters and families are the fastest growing tenant types. In fact, rental homes around top schools nowadays demand a premium on a … Read More

Make the improvements that matter

Daniel LeesProperty maintenance, Tenant finding0 Comments

Before you start oohing and aahing over hand-painted kitchens and copper baths on, pause and ask whether you should renovate at all. There’s no doubt that the right refurb can add value, but the reality of building works is far from romantic. It involves lots of dust, almost as many decisions and double the stress, time and money you’d … Read More

Do you need income or growth target?

Daniel LeesProperty management0 Comments

Your goal will determine whether you need to focus on rental income (for money in the bank every month) or long-term price growth (for a lump sum one day). If you are buying your first property, you can choose one suited to your goals. But as an accidental landlord, you already have a property – and it might not give … Read More

Define your property goal

Daniel LeesProperty management0 Comments

Long before you pick up the phone to any lettings agents, you need to ask yourself some big questions: what is my dream lifestyle? How much money do I need from my property to get there? And by when do I want to achieve it? A clear goal has three elements. It is: 1. Meaningful. To motivate you to action, … Read More

The top five maintenance questions answered

Daniel LeesProperty maintenance0 Comments

The top five maintenance questions answered How much should I budget for maintenance? Will the boiler conk out in the next week or the next decade? You just don’t know. Maintenance costs vary hugely, but set aside 5–10% of your annual rental income for this. A new build flat will likely have fewer costs than a period house. The most … Read More

Get finance in place

Daniel LeesProperty management0 Comments

After setting your property goal, your next step is to sort out financing. Don’t leave this for last – that’s one of the biggest newbie mistakes. Backing out of a deal because you can’t borrow enough will waste your time and destroy your credibility with estate agents. Five ways to raise capital To cover your deposit, purchase fees and refurb … Read More

Ten musts for your tenancy agreement

Daniel LeesLandlord law, Tenant finding0 Comments

In almost all lets you’ll have an AST by law. That gives you and your tenant certain rights and duties that you can’t wriggle out of, even if you scribble ‘this is not a tenancy’ in big red letters all over your contract or you don’t have a contract at all. Any unfair clauses that break the law, like saying … Read More

How to avoid the No1 landlord mistake

Daniel LeesProperty management0 Comments

What’s the biggest mistake new landlords make? Martina has asked that question to many an expert, and here’s the resounding answer: beginners don’t think of their property as a business.  For accidental landlords who see their property as their home, the shift is even harder. But to make a success of letting out your property, that shift is essential. Your rental property is probably … Read More

Do you really need landlord insurance?

Daniel LeesMortgages and insurance0 Comments

Ah, insurance. It can be like a trophy wife: expensive, difficult to understand and what you get is not guaranteed. So, do you really need it? And if so, what kind? We’ll look at four main types of insurance that are relevant to you as a landlord: Buildings insurance Contents insurance (if your property is let furnished) Rent guarantee insurance … Read More

Ten ways to self-manage your rental property effectively

Daniel LeesProperty management0 Comments

Self-management needn’t be an all-or-nothing choice. Rather, think of it as a sliding scale – you can outsource as much or as little as you like while still retaining control. Here are some ideas: Tenant finding. In the past tenants used to find homes mainly by visiting a local estate agency; now most start their search online via portals such … Read More