Section 24, tenant fee bans, Brexit… Landlords feel under siege amid an onslaught of tax and red tape. Is it really that bad? And what can you do to survive and thrive amid all this?
Rents rise 2.2% as market recovers
After months of falling rents, the lettings market has turned a corner — driven by a recovery in London
Q&A: What landlord insurance do I need?
Q I am about to start letting the three-bedroom house that has been my family home. What kind of insurance do I need? Steve White, Manchester A Your standard home insurance is likely to be invalid if you let your property, so check your policy. As a minimum, take out landlord buildings insurance (from about £250 a year), which covers … Read More
Five ways to raise capital for a buy-to-let property investment
Raising capital is often the biggest hurdle to property investment. To cover your buy-to-let deposit, purchase fees and refurbishment costs, you could: Save. That’s the obvious answer. Avoid lifestyle inflation and put your cash aside instead. Remortgage. If your property has risen in value – because you’ve improved it or the market has gone up – you can withdraw that … Read More
Ten musts for your tenancy agreement
What an assured shorthand tenancy agreement means In almost all lets you’ll have an assured shorthold tenancy agreement, or 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 … Read More
Landlord law: The serious stuff you must do to keep tenants safe
Gas safety checks, electrical tests, smoke detectors… Before you roll your eyes at the miles of red tape landlords have to disentangle, here is why it’s necessary: The £250 fire door that cost five lives A young couple, their baby son and their young niece and nephew all burnt to death trapped in their first-floor flat in Prestatyn, north Wales, … Read More
Avoid the No1 landlord mistake: create a property business plan
What’s the biggest mistake new landlords make? We have asked that question to many experts, 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
How to negotiate property lettings like a pro
To achieve the highest possible rent, good negotiation is key. Here knowledge truly is power: the best lettings negotiators give nothing away while trying to establish as many key facts from the tenant as possible. Don’t reveal any of your main drivers. Where an agent is letting your property, don’t disclose any personal facts to them – they may not … Read More
How to dress your rental property
To achieve the highest possible rent and attract the best tenants, you need to reduce barriers – tackle any issues that will deter tenants – and make it attractive by taking positive steps to style the property. It can be hard to see the faults in your own property, especially if you’ve lived there and are used to the funny smells and décor. Ask … Read More
Sunday Times coverage: How to let your spare room
Looking for tax-free rental income? Follow these rules and it’s elementary Forget Rigsby. The typical owner who lets out their spare room is no longer a miserly live-in landlord like the one from the 1970s sitcom Rising Damp — fiftysomething and long since separated, spying on his bedsit tenants. Nowadays, they’re likely to be younger and struggling to afford the … Read More