Tag: #landlords’#HMOlandlords
How to Get ‘Rent Ready’ before You Start Your Manchester Property Search
Stand out in Manchester’s competitive rental market by being ‘rent ready’ with all documentation and deposits prepared for a smooth move-in process.
A Very Merry Christmas Checklist for Manchester Landlords
Want to enjoy a safe and stress-free Christmas without an emergency call from your tenants? Then, run through this helpful checklist. Christmas is just a few weeks away, but don't put your feet up yet if you're a landlord. While emergencies are rare at a rental property, they can crop up occasionally – even on Christmas Day. A pipe could burst, the back fence could blow over, or some other unfortunate mishap that requires your urgent attention. But there are ways you can minimise the chances of getting a call from your tenant while you're tucking into your turkey [...]
Calling Manchester Landlords – It’s Nearly Time to File Your Tax Return
If you’re a landlord, the deadline for filing your 2023-2024 income tax return is fast approaching. Here are some important things you need to know. When to file your tax return Self-employed landlords need to file their tax return (and pay any tax owed) each year using the self assessment system. For the 2023-2024 financial year, this must be done by 31 January 2025 (unless HMRC has notified you otherwise). If you don’t, you will receive an automatic £100 penalty. This will increase the longer you delay. This doesn’t apply if you own your property [...]
Mould Prevention: Why Tenants and Landlords in Manchester Need to Work Together
Despite greater awareness and tougher legislative measures, mould can still be a significant issue for landlords and tenants. A new survey has found that 43% of tenants have experienced problems with mould and damp in their rental*. And cases appear to be becoming more – not less – prevalent. Experts attribute this to changing weather patterns (sadly, we’re getting more rain than ever in the UK)**. High energy prices don’t help either, as cash-conscious tenants are now more frugal when heating their homes. (Keeping a property at a moderate, consistent temperature helps prevent mould.) How can this trend be [...]
What the Budget Means for the Lettings Market in Manchester
Now the dust has settled on the Budget, let’s look at what it might mean for landlords and buy-to-let investors. The overall themes behind the Budget, according to Chancellor Rachel Reeves, were economic stability and growth, investment and putting more money in our pockets. But there were also £40bn of tax rises to fill the infamous £22bn black hole Labour says it’s inherited. The key changes that might affect landlords were: Stamp Duty increase for additional properties The big story here was the increase in the higher rate of Stamp Duty Land Tax (or SDLT), which applies when buying [...]
How to Do the Basics Brilliantly: Key Tips for Landlords in Manchester
Have you ever wondered how some landlords seem to run successful portfolios and others don’t seem to crack the rental property puzzle? In our experience, we’ve seen what the best do that the rest don’t. And the answer is surprisingly simple; they do the basics brilliantly. The best landlords have weathered many storms over the years, from interest rate rises and market turmoil to regulatory and tax changes. And they’ve seen countless Prime Ministers, Chancellors and Housing Secretaries (there’s been a revolving door in that department) come and go. The key learning here is they don’t get too worked up [...]
The Renters’ Rights Bill: Three Things Manchester Landlords Should Know
The Renters’ Rights Bill is a big news story in the property rental world right now. And there are lots of myths and inaccurate information being punted around. In this article, we’ll give you straight answers to three of the most common questions landlords are asking us. Will I be able to evict tenants if I need to? The honest answer is: yes and no. All tenancies will be periodic tenancies. There will be no fixed-term shorthold tenancies as there are now. Tenants will be able to stay as long as they wish. But if your tenants break the [...]
What Can Manchester Landlords Expect in Next Week’s Budget?
After months of fevered speculation, Chancellor Rachel Reeves will unveil her autumn Budget next week (Wednesday 30 October). As the announcement could have important implications for landlords, let’s consider what might be included in it. But first, a caveat Leaks and rumours accompany the lead-up to any major fiscal event, and this Budget – Labour’s first for 14 years – has been no different. There has been lots of speculation including some news articles that could only be described as scaremongering. What we know is that Labour has promised not to raise income tax, VAT or employee NI contributions. The [...]
Cuckooing: What Is It? And Why Is It a Threat to Manchester Landlords
Cuckooing is a heartless crime that puts your tenant’s wellbeing at risk and leaves you, as the landlord, facing an array of legal issues. So, if you own a rental property, here’s what you need to know. What is it? The term ‘cuckooing’ refers to when a criminal gang moves into someone’s home and uses the property for illegal purposes. How it starts Criminals tend to target vulnerable people, be they lonely, elderly, intellectually disabled or on the breadline. One way or another, be it with false promises, gifts, loans of money or threats, a crook wheedles their way into [...]
How to Make Your Manchester Property Tenant-Ready in Five Easy Steps
Welcoming a new tenant can be exciting for landlords, but it also requires careful preparation to ensure a smooth transition. A well-prepared property makes a great first impression and can set the tone for a successful tenancy. Here are five key steps landlords should take before handing over the keys. Inspect and refresh the property Begin with a thorough inspection. Look out for issues like faulty fittings, leaks or signs of wear and tear. Addressing these minor problems now can prevent major headaches later. Consider a fresh coat of neutral paint to rejuvenate the space and create a welcoming atmosphere [...]
Manchester Landlords: Top Tips for Buying a Fixer-Upper
When considering the purchase of a ‘doer-upper’ – a property that requires refurbishment – landlords are often faced with a Shakespearean (ish) question: “To buy, or not to buy?” It’s an important decision where you must weigh up several important factors before choosing to invest or not. Below are five key considerations to keep in mind: Budget for refurbishment Before purchasing a doer-upper, make sure you budget accurately for the refurbishment work. You must account for not only the obvious repairs but also any hidden issues that may arise once work begins, such as damp or structural problems. A detailed [...]
Avoid These Common Pitfalls as a First-Time Landlord in Manchester
Despite overblown media reports of a wave of landlords selling up due to regulation changes and new government policies, property remains a viable long-term investment for many. For first-time landlords, however, common pitfalls can turn a promising venture into a stressful experience. Avoid these six mistakes to ensure your property investment journey gets off to a smooth start. Underestimating costs One of the biggest errors new landlords make is underestimating the ongoing property maintenance costs. Repairs, safety inspections and void periods (when your property is empty) can quickly eat into your profits. Budgeting for unexpected expenses and having a contingency [...]
The Surprising Demographic Shift Taking Place in the Manchester Rental Market
First-time buyers might be getting older, but when it comes to landlords, it’s a different story. A new survey* has found that in the past nine years, there’s been a drop in the average age of landlords in the UK. Back in 2014, the average age for a landlord purchasing a rental with a buy-to-let mortgage was 46.4. By 2023, that figure was down to 42.9. Age breakdown Young adults are often presented as economic lightweights who fritter their cash away on avocado toast and pumpkin spice lattes. But take a deeper dive into the figures, and it’s clear [...]
What’s Happening in the Rental Market? Update for Manchester Landlords
Is the rental market running hot or cold, and what can we expect in the coming year? Let’s dig into the latest data from the Office of National Statistics (ONS) and property portal Zoopla to find out. Taking stock Unless you spent 2023 hiding under a rock, you’ll know that rents rose last year. A combination of higher interest rates, which put pressure on buy-to-let (BTL) mortgages, and high inflation saw rents increase. The real question is, by just how much? The latest ONS data shows rents in the UK grew by 8.6% in the year to July 2024. A [...]
Savvy Styling Tips for Your Manchester Rental Property
Property experts often advise sellers to style their home before they put it on the market. Go the extra mile with presentation, and buyers will be impressed by what they see and smell, or so the theory goes. But do the same styling rules apply to landlords hoping to attract top tenants to their buy-to-let? While there’s a little less scope for creative presentation with rentals (because they tend to be unfurnished), we think basic styling principles can still apply. A well-styled rental sends a clear message to prospective tenants that the landlord is proactive and [...]
How to Reduce the Risk of Fire at Your Manchester Rental
Did you know that a blaze is seven times more likely to start in a rental property than in a home occupied by the owner?* It's a shocking statistic that underlines the need for landlords to prioritise fire safety. So, let's look at how to keep your tenants and property safe. Follow the law Landlords must follow strict rules on issues such as smoke and carbon monoxide alarms, gas and electrical safety checks and the provision of unobstructed escape routes. We won't go into too much detail here as there's a lot of ground to cover** (if you'd like [...]
How to Choose a Manchester Letting Agent
Great letting agents make a world of difference to their clients. They're star performers who keep tenancies running smoothly, properties well-maintained and landlords on the right side of the law. But not all letting agents are equal. Unfortunately, a small minority are rogue operators with ulterior motives. So how can landlords find a reputable, legit letting agent to manage their rental? Let's find out. But first, a cautionary tale This story, recently reported by the BBC, is a prime example of what can go wrong if you get hoodwinked by a rogue agent. A [...]
How Letting Agents in Manchester Support Landlords and Tenants
A good letting agent can make a world of difference for both landlords and tenants. Here are ten things a top-notch letting agent does to provide outstanding service: Tenant Vetting and Screening A reliable letting agent conducts tenant screening (often called referencing) to ensure potential tenants are compatible with the financial obligations and responsibilities of the tenancy. Doing so reduces the risk of payment issues and helps support a harmonious tenancy for both tenant and landlord. Property Marketing Savvy marketing is crucial for attracting quality tenants quickly. The best letting agents use professional photos and accurate descriptions, and advertise on [...]
Buying Your Manchester Rental Property: What You Need to Know
If you feel totally at home in your rental property, you may daydream about buying it from your landlord. So, what issues come into play when you want to buy the property that you’re renting? Let’s take a look. Be realistic While it’s not unheard of for a tenant to buy their rental, it is uncommon. One reason for this is timing: the tenant needs to be in a financial position to buy the property at the same point as the landlord is looking to sell. Understand the commitment involved There are benefits to [...]
How to Spot Bedbugs, Bird Mites and Other Creepy Crawlies at your Manchester Rental
There’s no room for complacency when it comes to dealing with insects in a rental property. What can start as a minor inconvenience can quickly become a major issue, especially as summer is breeding season. So, here’s a list of common bugs for tenants and landlords to keep an eye out for. Bedbugs Holidaymakers often inadvertently bring bedbugs home with them in their luggage (they are a common problem in the hotel industry). The bloodsuckers look like red or brown seeds but can be hard to spot as they dislike light. The first signs [...]
Common Lettings Terms That Manchester enters Need to Know
Lettings terminology can be confusing, especially if you’re new to renting. So, here’s a jargon-busting list of commonly used rental terms to help you navigate the lettings market*. Agent An agent is a person who acts on behalf of the property owner (i.e. the landlord). Agents can be involved in letting activities such as finding tenants, tenant referencing and the day-to-day management of the property. Arrears If a tenant fails to pay some or all of their rent when it’s due (as specified in the rental contract), the outstanding amount is called arrears. AST AST stands for Assured Shorthold Tenancy. [...]
Eight Things to Consider if a Tenant Abandons Your Manchester Rental
Property abandonment is a rare but complex issue that, if mishandled, can get a landlord in legal trouble. So, let’s look at the key things to consider if a tenant abandons your rental without notice. What is abandonment? When a tenant leaves a rental before the end of their contract (usually without notifying the landlord), it’s called abandonment. If a landlord suspects their tenant has ‘done a runner’, then it’s important that they follow these tips. Talk to an expert If you think you’re dealing with tenancy abandonment, speak to a professional (your letting [...]
The Impact of AI on Manchester Rental Sector: A Look Ahead
Artificial intelligence (AI) is making tsunami-like waves across various industries, and the UK rental sector is no exception. For landlords, understanding how AI might shape the future of property management is important for maximising their investment and protecting their assets. Here’s a glimpse into the potential changes AI could bring while also highlighting the importance of letting agents in handling the human aspects of renting out your property. Smarter property management AI can revolutionise property management by automating routine tasks. Smart maintenance systems powered by AI can predict when appliances need repairs before they break down. This proactive approach [...]
Three Weird Questions to Test the Knowledge of Manchester Landlords
When it comes to being a successful landlord, it pays to heed the words of Forrest Gump. The slow-witted, kind-hearted fictional character played by Tom Hanks on the big screen uttered a phrase that should serve as a guiding motto for all landlords. “Life is like a box of chocolates; you never know what you’re going to get.” No matter how experienced and diligent you are as a landlord, you never know what unexpected dilemma is going to come your way. And when a tenant throws you a curveball, it’s important that your response falls within the bounds of [...]
The Dos and Don’ts of Deposit Deductions: Advice for Manchester Landlords
When a tenancy ends, there’s often confusion – and sometimes disputes – over what a landlord can claim as a deposit deduction. So, let’s look at what’s reasonable to claim and how to avoid deposit disputes in the first place. A landlord can deduct funds from a tenant’s deposit to cover*: Unpaid rent or bills. Damage caused by negligence or recklessness. (The tenant should return the property in the same condition as at the start of a tenancy.) Anything in the property at check-in that is missing at check-out, such as furniture, appliances and smaller items such as lampshades or [...]
Eleven Things to Do before You Move Out of Your Manchester Rental
As we all know, moving home can be a stressful business. But you can avoid a frantic panic on the big day by starting your end-of-tenancy preparations sooner rather than later. With a little bit of planning and forethought, you can streamline the process and avoid a last-minute scramble. Once you’ve agreed on a moving date with your landlord or letting agent, follow this guide. Check out your check-in report: Review the inventory you received on moving-in day. This will outline the property’s condition at the start of the tenancy. It’s your responsibility to return the property [...]
Warning: Danger Ahead! The Rental Red Flags Manchester Landlords Should Heed
If you’re a landlord, you can probably think of nothing worse than your rental sitting empty. The prospect of covering the mortgage and utility bills in between tenancies may keep you awake at night. And there are security implications too: a lengthy void period may invalidate your landlord insurance and increase the risk of squatters moving in. But in a desire to get new tenants in, it’s essential you don’t let your guard down. Because while an empty rental is bad, having a tenant who is a fraudster or serial rent dodger is worse. So, if you hear any of [...]
Secure Your Manchester Rental: A Landlord’s Guide to Summer Safety
When summer arrives, the issue of property security becomes even more relevant for landlords. The summer months provide more opportunity for thieves to take advantage of longer days, open windows and doors, and vacant properties. As a landlord, you need to protect your investment, but it’s also good practice to help your tenants feel safe and secure. Here are five relatively simple security steps landlords can take to safeguard their properties during summer. Upgrade locks and secure entry points As a landlord, it’s important to strengthen all entry points. Invest in high-quality deadbolts for doors and ensure windows have sturdy [...]
Five Factors to Consider when Setting Rent in Manchester
Setting the correct rental price for your property is essential to attract the best tenants and maximise the return on your investment. Too high, and you won’t get that all-important awareness and interest. Too low, and you’ll be out of pocket. Here are five key considerations every landlord should keep in mind when setting the rent for their rental property. Market research: Before setting your rent, make sure you understand the local rental market in your area. Look at similar properties in terms of size, location and amenities to gauge an appropriate price range. Search online property portals and [...]
The Biggest Challenge Facing Manchester Landlords Today – And How to Tackle It
One issue, above all else, causes landlords sleepless nights. Can you guess what it is? Could it be maintenance and repairs? Or maybe it’s worrying about the rent being paid on time? If you answered one of the above, thanks for playing, but you’re mistaken. The biggest challenge landlords currently face is abiding by government regulations. In a recent survey*, 67.5% of landlords said complying with red tape was their most significant hurdle. (This figure was up from 39% the year before, a clear indication of growing concern about the issue.) And when you think [...]
How Landlords in Manchester Can ‘Grow’ Trust with Tenants
Gardens can boost a rental property’s appeal, often making it more attractive to potential tenants – especially during May, as spring is here and summer is around the corner. But, as beneficial as they may be, gardens can also be a source of friction between landlords and tenants, particularly when it comes to maintenance responsibilities. To skilfully swerve such disputes, landlords should adopt a proactive approach. Here are five straightforward strategies to help keep your garden an asset, not a liability. 1.Simplify garden designs Choose garden designs that are both appealing and easy to maintain. Opt for plants that require [...]
Five Things Manchester Landlords Should Consider before Buying a Property Abroad
Investing in a buy-to-let abroad can be a tempting prospect. Owning your own little piece of paradise while earning a rental income can seem like a win-win scenario. However, it’s essential to have realistic expectations about the challenges landlords face when managing a property overseas. Here are five things to consider before investing in an overseas rental. The distance factor : Managing maintenance and repairs is difficult when you live hundreds of miles away (especially if you don’t speak the local language). As a result, most landlords get an agent to manage the property for them. As you won’t be [...]
Top Tips for Attracting High-Quality Tenants in Manchester
Some landlords, actually many, have an ‘if it ain’t broke, don’t fix it’ approach to their rental property’s upkeep. But by proactively refurbishing and modernising your rental properties, you can realise a host of benefits that will attract premium tenants and add long-term value to your investment. Here are seven ways why, and how, astute property upgrades benefit forward-thinking landlords. Attract premium tenants: By upgrading your rental, you ensure it meets high standards, making it more likely to be rented quickly, thus minimising those dreaded void periods. Create better landlord-tenant relations: A well-cared-for property often inspires respect and care in [...]
How Manchester Landlords Can Get the Best from Their Letting Agent
If you’re a landlord looking to save time and money (and let’s face it, who isn’t?), a good letting agent can be a game-changer. They’ll manage your rental property day to day (so you’re free to focus on your other responsibilities), regularly check in with your tenants (to ensure there are no issues) and remind you of your legal obligations. A top letting agent can also look ahead and, drawing on their industry experience, advise you on your long-term investment strategy. But, as with all business relationships, communication is key. When there is clarity and mutual understanding, [...]
Making Tax Digital: A Timeline for Manchester Landlords on the Upcoming Changes
Making Tax Digital: A Timeline for Manchester Landlords on the Upcoming Changes Did you know that HMRC plans to introduce new rules on how landlords file their tax returns? Here’s an update on what these changes involve and a timeline for when they’ll come into force. Making Tax Digital (MTD) is an initiative designed to streamline the tax system by fully digitising it. As MTD has been mooted for quite some time and its implementation delayed twice already, you may have already heard about it. But if you’re hazy on the details or have buried your [...]
Managing and Reducing Void Periods in Manchester
Owning a rental property isn’t just about what happens while tenants are in place; effectively managing periods when your property is unoccupied is equally important. Every landlord faces void periods as a natural part of property letting, making it essential to prepare financially and strategically to manage its impact. Void periods mean not only the loss of rental income but also the burden of continuing to pay the mortgage, utilities (including standing charges) and council tax without money coming in from tenants. It was once common for local councils to offer a grace period for council tax on empty properties, [...]
How to Protect Your Manchester Rental from This Common Cause of Property Damage
What’s the most common reason for landlords finding themselves in hot water and needing to make an insurance claim? The answer, according to one insurance company* at least, is ‘escape of water’. This term covers everything from burst pipes and defective washing machines to leaky loos and dripping taps. In a recent report, the firm revealed that 35.5% of all claims paid to landlords were related to water damage. And while most claims totalled a few thousand pounds**, some were for much, much more. (Spare a thought for the landlord who had to claim £145,000 after a [...]
What You Need to Know if You Inherit a Rental Property in Manchester
If you’ve just inherited a rental property, then you may be wondering what your options are. While you won’t need to make any decisions on the spot (it usually takes many months to settle an estate), it’s good to start thinking about the issues you’ll have to address in time. The first is what you intend to do with the property. Assuming you don’t want to move in yourself, your options are to: Continue to rent the property out. That way, you’ll earn a monthly income and have a long-term investment that you could later pass [...]
FAO Manchester Landlords: Five Key Checks for Your Rental Property
Maintaining a rental property in Manchester isn’t just about collecting rent; it’s about safeguarding your investment and keeping your tenants happy and safe. That’s why regular property inspections are so crucial. They help you spot potential issues before they become costly repairs and ensure your property remains a place people are proud to call their home. Here’s the lowdown on the five key areas you need to focus on during your inspections: Structural integrity: Let’s talk about the ‘bones’ of your property. Look for any cracks in the walls and ceilings. Also, checking the roof for missing tiles or leaks [...]
Top Renovation Tips for Manchester Landlords
Planning to renovate your rental? There’s one thing you should know before you start pulling up carpets or ripping out cabinets. It will help you avoid a costly and avoidable mistake that many landlords make, and it’s this. Don’t let your emotions cloud your decision-making. It sounds simple, but you’d be surprised how many landlords lose sight of the fact that they’re supposed to be making business decisions. As a result, they do one or more of these things: Spend more than they need to. Spend cash in the wrong areas. Wind up with a longer [...]
FAO Manchester Landlords: The Five Mistakes You Can’t Afford to Make
Being a landlord is rewarding, but it comes with its own set of challenges and responsibilities. Over the years, we’ve seen and helped solve most of the mistakes landlords can make. To help you navigate this complex terrain, here are the five most common mistakes we’ve encountered and how to avoid them, ensuring a more profitable and stress-free experience. 1. Neglecting property maintenance One of the gravest errors is failing to maintain the property. This leads to disgruntled tenants and costly repairs down the line. Prevent this by scheduling regular check-ups and addressing issues promptly. [...]
What Manchester Couples Need to Know before Moving In Together
If talk between you and your partner this Valentine’s Day turns to living together, there are a few practical things you should know first. Here at Myhouse Agents, we pride ourselves on being as helpful as possible. But dishing out relationship advice is a step too far – even for us. So, if you’re considering moving in with your partner, we’ll leave the big decisions and lovey-dovey stuff down to you. However, if you decide to co-habit, we have some useful, albeit unromantic, advice for you. It’s based on insights we’ve gained over the years from [...]
Renters Reform Bill: An Update for Manchester Landlords
After years in the making, it looks like the Renters Reform Bill – the biggest shake-up of the private rental sector in decades – will become a reality in 2024. So, how much do you know about this wide-reaching set of proposals, and are you ready for them? Be prepared Perhaps you’ve read a few articles about the bill but have put off getting to grips with the details (after all, politicians put forward all sorts of proposals, many of which never happen). Or maybe you’ve taken the ostrich approach, hoping it will go away. [...]
Say Goodbye to Condensation: Quick Tips for Manchester Tenants
In the winter, we’re guaranteed a few things. It’ll be raining when we least want it to. A local postie will still be wearing shorts, no matter how cold it is. And condensation will appear at some point – often in our homes. While you can’t do anything about the weather (or the postie’s clothing choices), you can take some simple steps to combat condensation. We’ve come up with seven quick fixes that can dramatically reduce the risk of condensation, ensuring your home stays fresh and clean. Consider using portable dehumidifiers, particularly in high-moisture areas like kitchens and bathrooms. These [...]
How to Spot the Signs of Illegal Subletting at Your Manchester Rental
Did you know that one in ten tenants admit to illegally subletting their rental property*? The practice is even more common among young people; in a recent survey, 25% of tenants aged 18 to 24 confessed to secretly subletting all or part of their rental. So why should landlords be concerned about illegal subletting? After all, if the rent still gets paid on time, what’s the problem? Here are a few reasons. You have no idea who is living in your property and what kind of illegal or unwise activities they’re undertaking. It can breach the [...]
Is Your Manchester Rental On Trend? How the Lettings Market Stacks Up Today
Whether you’re a first-time investor or an experienced landlord looking to expand your portfolio, it pays to know what tenants want. Understanding current trends in the market will help you fine-tune your rental marketing strategy and ensure that any improvement work you undertake proves to be of good value. So, what are tenants looking for in 2024? Let’s take a look. Affordability Given we’re in a cost-of-living crisis, it’s not surprising that affordability is the top concern for tenants. With the average UK monthly rent now sitting at £1,348*, more tenants are renting with [...]
Meet the Guppies: What Manchester Landlords Need to Know about This Key Demographic
If you’re wondering what Guppies are (and we’re not talking about fish here) and what they’ve got to do with the property sector, let us explain. The term ‘Guppies’ refers to tenants in the 18 – 39 age bracket who see themselves staying in the rental market for the long term. The nickname comes from the phrase ‘Given Up on Property’ because Guppies don’t see home ownership on the cards for them for at least the next decade. For some, this is because of the high cost of buying a property and the struggle to get a [...]
What’s in Store for 2024? A Look at the Year Ahead in the Buy-to-Let Sector
There’s no doubt that 2023 was challenging for the private rental sector, but looking ahead, landlords have plenty of reasons to be cheerful. While no one knows precisely what will happen in 2024, economists believe interest rates and inflation have peaked, and that the economy will continue to rally. Here’s an idea of what forecasters predict for the next 12 months*. Demand The long-term imbalance between supply and demand in the property market shows no sign of abating. So, the strong levels of demand and high occupancy seen this year look set to continue. Zoopla [...]
Season’s Greetings: A Landlord’s Guide to Tenant Appreciation
Landlords are often portrayed as Grinch-like characters. Devoid of fun, lacking humanity and relentlessly greedy. In our experience, working with dozens of landlords across Manchester, this Scrooge stereotype simply isn’t true. In fact, we often get contacted by generous landlords seeking ideas to spread a little Christmas cheer to their tenants. So, with that in mind, ho, ho, how’s this for five little things that can make a big difference when it comes to building goodwill and rapport? Personalised simplicity A handwritten Christmas card can go a long way. Tailor each message to show you know and value your tenants. [...]
Is Your Manchester Rental Property Ready for Winter?
Forecasters predict this winter will be cold and dry – making it likely we’ll get lots of snow. While this is excellent news if you’re a skier, if you’re a landlord, it means there’s no room for complacency when it comes to maintenance and repairs. Freezing temperatures can cause all sorts of property damage, so it’s vital that your rental is ready for the tough months ahead. Here’s a list of seven ways to winter-proof your property to avoid expensive repair bills and ensure that you and your tenants can rest easy on cold, dark nights. [...]
The Untold Stories of Landlords in Manchester: Compassion behind the Contracts
In today’s climate, it’s easy to paint landlords with the same brush – viewing them solely as money-grabbing opportunists. As a letting agency that’s part of a network of like-minded agents, we get to see the rental business’s good, bad, and ugly side. Yes, there are some unscrupulous, greedy landlords. We do our best to avoid these. However, many landlords strive to do the right thing for their tenants. We’ve gathered some inspiring tales that highlight the, more often than not, unpublicised acts of kindness that landlords have done and continue to do. In one remarkable situation, a landlord had [...]
Tricks or Treats? Demystifying Rental Myths for Manchester Landlords This Halloween
In this Halloween Special, we look at five scary things landlords in Manchester need to be mindful of to avoid nightmares. The ghostly guarantee of quick tenants Some letting agents will convince landlords that finding tenants is a quick and painless process. However, rushing it without proper checks and considerations can lead to choosing the wrong tenant. Patience and due diligence will save you from a frightening future filled with unexpected issues. The curse of the bad tenant Many landlords dread being trapped in a lease with a problematic tenant. This doesn’t have to become your reality. Thoroughly understand your [...]
Declaring Details: How Correct Information Can Save Manchester Landlords Thousands
For Manchester landlords, having the right insurance coverage is not just a box to tick. It’s an essential safeguard for your investments. But simply having insurance is not enough; understanding the policy’s specific requirements and declaring everything accurately is crucial. In the following cautionary tale, we’ll explore a real-life incident involving a landlord who learned this lesson the hard way. The names and details have been changed, but the lessons remain valuable for all landlords. The story A diligent landlord, let’s call him Martin, was confident he had secured the right landlord’s policy with a reputable insurance company. He was [...]
Rental Sector Market Update for Manchester Landlords
After a challenging 12 months for the economy, how is the private rental sector faring, and what lies ahead for buy-to-let landlords? In this market analysis, we look at some facts and figures to give you an accurate update on the private rental sector. Demand Demand for rentals is running hot. It’s up 3% on 2022 levels and a whopping 42% higher than in 20191. Reasons for this include first-time buyers struggling to get on the property ladder (an issue made worse by higher interest rates) and a shortage of purpose-built student accommodation. Supply The long-term imbalance between housing supply [...]
Manchester Landlord’s Guide to Finding Tradespeople You Can Trust
It’s up there with late rents, messy tenants and broken boilers on a landlord’s Headache-ometer. What are we talking about? Finding (and keeping) tradespeople you can trust to look after any property maintenance or issues landlords need to get sorted. In this article, we share five tried, tested and trustworthy tips on how to find the very best and swerve the unreliable rest. Tip #1: Know your needs Understanding what you require is the first step. Is it a leaky tap or a major renovation? Assessing the job’s complexity will help you choose between a handyperson and a specialist. Tip [...]
How to Be a Pet-Friendly Landlord in Manchester
If you’re a landlord looking to attract long-term tenants, it’s worth thinking about ways to make your investment property as appealing as possible. And one area you may have overlooked is the army of British pet owners who need a rental property, and want to make their furry friends as comfy as possible. Unfortunately, over the years, many landlords have been known to refuse pet owners, perhaps due to worries about damage or general unsuitability for a property. Many pet owners tend to stay put in a rental as it can be difficult to find somewhere suitable. [...]
Why It Could Be Better to Rent Out Your Property Rather Than Sell
If you’re fortunate enough to be in a financial position where you can rent out your home instead of selling it, should you take the leap? After all, if you don’t need to sell to fund your next move, renting your property is an option worth exploring. Here, we explore the dilemma of renting out a property instead of selling it. Timing As we all know, property sales can take time. There are lots of hoops to jump through and boxes to tick before you get that money into your bank account. If you’re moving away [...]
What to Consider When You’re Pricing Your Manchester Rental
If you’re a first-time landlord about to rent out a property, or an established landlord looking to purchase a new investment, one of the main questions you’ll have is how much rent you can charge per month. Of course, you can (and should) take the advice of your agent, but it’s also worth understanding exactly what factors impact the amount of rent you can sensibly charge. In this quick read, we explore the factors you need to consider before pricing your rental property. Compare The first thing to look for is properties that are similar to [...]
Why Property Inspections Could Save You Money
As a landlord, you’ve probably experienced that feeling of dread when your tenant’s name flashes up on your phone, reporting a problem. Or how about the horror of receiving the news that you’re going to have to pay for urgent (and expensive) repairs? If either of these situations sound familiar, it could mean you’re not inspecting your rentals enough. Being a landlord isn’t just about buying a property and raking in the rent. It’s a difficult job that requires attention to detail, making sure you’re meeting legal obligations, and ensuring your tenants are enjoying a safe living [...]
Should You Invest in a Turnkey Buy-to-Let or a Renovation Project in Manchester?
Whether you’re an established landlord or a first-time investor, you’ll probably be thinking about what to buy: a ready-to-go rental or a doer-upper. Which one should you pick? Currently, lots of changes are being made around rental rules, and reports claim that many landlords are selling up. However, there are still plenty of investors making their move into the rental space. And with the UK facing a possible decline in house prices, now may be the right time for you. But what do you buy? A turnkey rental is one that is ready for tenants to move [...]
Top Rules for a Happy Manchester House Share
Renting a property with a friend or acquaintance? Never lived with anyone before? We’ve got you covered with some top tips to help manage your new living situation. These days, renting isn’t cheap and whether you’re a student or professional, those monthly payments can feel like a stretch. So, if you’re about to move in with a flatmate, it’s worth sticking to some basic rules to make sure your tenancy works out for the both of you. In this quick read, we look at ways to make your flat share feel like a happy home. Understand Your [...]
How to Make Your Manchester Tenancy a Happy One
As a landlord, as well as managing the finances, the property, and any repairs or maintenance, you must also remember to look after your tenants. While nine times out of ten you’ll never have to deal with anything too difficult, sometimes relationships can be testing. So, what’s the best way to deal with issues that arise during a tenancy? In this quick read, we look at ways to deal with such problems. Help avoid fall-outs You can’t control the arguments that arise between tenants; however, you can try to avoid future rows by setting out clear advice [...]
Renting a Property in Manchester? Find Out How to Get Your Repairs Sorted
Problems in the home are a nuisance. Like when you’ve got a leaky tap and the drip drip drip drives you to distraction, or when your fridge packs up and food goes to waste. When things go wrong, it’s understandable you want them fixed ASAP. But what if you’re a tenant? What’s the best way to get an issue resolved? Repairs and maintenance in a rental property are usually a landlord’s responsibility. As a tenant, you’ve got to wait until they sort it out, so what’s the best way to communicate with your landlord? How can you get them [...]
What Manchester Landlords Need to Know about Condensation and Mould
How can landlords and tenants combat condensation and mould? Read on to find out. Condensation and mould The two are often bundled together because if you’ve got condensation, there’s a good chance it won’t be long before you’re battling mould. Condensation can be caused by warm air hitting cold surfaces or by lots of humidity in the air. The air cools and droplets form, creating a damp environment – and a perfect breeding ground for mould. Mould grows in black, green or brown spots. It’s most commonly found in bathrooms and kitchens but can thrive in any damp or humid [...]
Important Reasons Landlords has to do Legionella Risk Assessments in their Rental Property
As a landlord, you have many responsibilities when it comes to the safety of your tenants. One of the less well-known, but still vitally important, responsibilities is ensuring that your properties are free from Legionella bacteria. This is why a Legionella risk assessment is essential for any landlord. Here are some of the reasons why: It's a legal requirement under UK Law Landlords are required to assess the risk of Legionella in their properties and take appropriate measures to control any risks identified. Failure to comply with these regulations could result in legal action, including large fines and even [...]
Turn Your Manchester Rental Property into Somewhere You Love
Whether your rental property is a blank space you just sleep in, or it’s a new family property, it’s important to make it feel like home. So, how can you fall in love with your rental without breaching tenancy rules? You could be a long-term renter or maybe a flat-sharer, but one thing is for sure, making the space your own will immediately change the way it looks and feels. In this quick read, we look at ways to love your rental without falling foul of any tenancy agreement rules and stipulations. Check what’s allowed Before [...]
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Are Manchester Landlords Recession Proof?
Recessions hit everyone right where it hurts: in the pocket. Everyone feels the pinch as prices rise and the cost of living spirals. Homeowners face the prospect of higher mortgage rates and rising bills. But what about landlords? Are they the Teflon of a credit crunch? According to finance experts at Investopedia, landlords not only survive recessions, but they thrive, as renting becomes more appealing than buying in the economic downturn. After all, owning rental properties guarantees them an income, or does it? In this quick read, we look at why landlords aren’t always immune to recessions [...]
Why Manchester Landlords Should Never Skip Doing an Inventory
A thorough inventory can save a landlord time and money and prevent messy end-of-tenancy disputes. So why do so many landlords rush this essential stage – or skip it altogether? In this quick read, we look at why an inventory is important and what you need to include in it. Picture this Your tenant of the past 12 months is leaving. You go to check them out and find a massive stain on the carpet, the sofa cover has been torn and there are lots of marks on the walls. Uh oh. You’re in a stand-off. [...]
A Quick Guide for New Landlords in Manchester
Being a first-time landlord can feel daunting. There’s a lot to do before you can get your property rented out – such as repairs, legal obligations, admin, tenant-finding, contract signing, and so on. But don’t fret. A good letting agent will help explain all the ins and outs of the process. And can do most of the work on your behalf. In this three-minute read, we discuss some of the essential steps you need to take before renting out your property. Contact a local agent Before you market your property, you’ll want to know how much [...]
Why Landlords Should Respond Promptly to Tenants (And Not Mess Them About)
When a tenant gets in touch, don’t faff about – a prompt response will save you time and money in the long run. A three-minute read. Picture this: you’re frantically busy at work, scrambling to meet an urgent deadline when your phone pings. It’s your tenant raising what seems like a pretty minor issue, so you make a mental note to get back to them in a few hours when things calm down. But time flies, and before you know it, days have passed, and you still haven’t taken action to address the issue raised. Most [...]
Top Tips for Managing Joint Tenancies
When they run smoothly, joint tenancies can be a good source of income for landlords. This three-minute read explains how to get the best out of them. Joint tenancies are a great way for friends or couples to live together and share the rental burden. (Think about best buddies and flatmates Joey and Chandler in Friends, they had a ball, right?) And joint tenancies can also be good news for landlords, providing steady long-term income and low tenant turnover. (If your tenants are happy and get along like Joey and Chandler, they’ll stay for years.) But sometimes, the relationship between [...]