Tag: #propertyprofessionals
Should You Include Bills in Your Monthly Rent for Your Manchester Property?
Tenants’ needs and wants are always changing. A decade ago, broadband was a luxury, now it’s a necessity. Since the pandemic, properties with outside space are more popular than ever. So how can you make your rental property as attractive to tenants as possible? Recent research by property bods at Rightmove has found that ‘bills included’ is now one of the most popular search terms currently used by prospective tenants, overtaking ‘pets’ and ‘garden’, marking yet another change in what renters want. What does this mean for private landlords? Many landlords running Houses of Multiple Occupation offer bills [...]
How to Find a Letting Agent in Manchester: Six Questions to Help You Spot a Good Agent
Fed up with self-managing your buy-to-let and want a top-notch professional to do it for you instead? Here’s how to find the best letting agent in your neighbourhood. So, you’ve decided to get a letting agent to manage your rental. You can’t wait to hand the burden of regulatory red tape and admin over to an expert but are faced with a dilemma. With so many agents out there, how do you find the best one? The last thing you want is to sign a contract with an agent and find that they never pick up the phone, [...]
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 [...]
What to Do If Your Tenants Fall Out
Joint tenancies can be a great way for friends and couples to share costs and a steady source of income for landlords – but they’re not without their challenges. Friends can fall out, couples can split up, and rows about who used all the loo roll or spilt red wine on the carpet can escalate into toxic disputes. Sadly, the current cost of living crisis, which is causing much anxiety among renters, may further complicate things. According to a recent survey*, three in five people living in shared accommodation say rising energy bills are a source of [...]
What Your Tenants Need to Know on Moving-In Day
Want to get your new tenancy off to a good start and safeguard against future disputes? Then here are some important things you should tell your tenants on moving-in day. Let’s face it, finding good tenants and getting all the relevant paperwork ready for a new tenancy is hard work. As well as arranging viewings and reference checks, landlords have to finalise the contract, compile an inventory and take meter readings. By the time all this is done, most landlords are itching to get the moving-in formalities over with quickly and leave their tenants to unpack. [...]
How to Winter-Proof You Manchester Rental Property
Here are ten ways to prevent a minor mishap or major disaster at your rental property this winter. For many people, winter really is the most wonderful time of the year, a chance to crunch through frosty fields, make the perfect snow angel or snuggle up by the fire. But from a property perspective, winter can be hazardous, with snow, rain, ice, high winds and low temperatures all posing potential risks. Landlords who fail to prepare for these risks could face a hefty repair bill and a disrupted holiday season (not to mention the distress your tenants may experience if [...]
The Five ‘Rs’ of Making the Most of Your Property Portfolio
A property portfolio is a great way to generate income and build yourself a tidy retirement nest egg. But there’s more to it than shaking hands with new tenants and waiting for the rent to roll in. You need robust systems and a professional attitude to protect your investment and ensure you don’t wind up out of pocket or on the wrong side of the law. To find out what it takes to manage several rental properties, read our guide, the Five Rs of Making the Most of Your Property Portfolio. Responsibilities As a landlord, it’s important [...]
Is Rent Protection Insurance Really Necessary?
The rental market is a tough place to be, especially in the current economic climate. With the cost of living crisis leaving many tenants feeling squeezed, now could be the right time for landlords to invest in rent protection insurance. But is it really worth it, or just another expense? In this two-minute read, we look at rent protection insurance in detail to help you decide whether you need it. What is it? Rent protection is also known as rent guarantee insurance or landlord rent insurance. It protects landlords against loss of rental income if a [...]
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https://www.youtube.com/watch?v=SL6updwk9xc
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 [...]
How to Spot a Fake Landlord and Avoid Getting Scammed
Don’t let fraudsters swindle you out of your hard-earned money. Read on to discover what the ‘fake landlord’ scam is and how to protect yourself. The fake landlord ruse has been around for years, but current market conditions mean that some renters are particularly vulnerable to this con right now. Here’s how it works A fraudster posts a property for rent online, complete with photos (usually stolen from a legit website). Often, they advertise on online community noticeboards so they can take advantage of free listings. However, some fraudsters go so far as to create an authentic-looking lettings [...]
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https://www.youtube.com/watch?v=GOe-ozjboIo
How Manchester Landlords Can Save Thousands of Pounds
There’s a lot to think about when you are a landlord. You’ve got the ever-changing rules around rental property to consider. Then there’s ensuring your property is well maintained and your tenants are happy. Add to that the cost-of-living crisis, pressures on the economy and political instability, and you could be forgiven for thinking, ‘what’s the point?’. But before you sell up, let’s look at your alternatives. We believe that the best way a landlord in Manchester can run successful rental property portfolios is to work with an experienced, knowledgeable and conscientious letting agent. Now, more than ever, landlords [...]
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https://www.youtube.com/watch?v=Cj0sDBoabrA
Attention Manchester Landlords – Don’t Let Condensation Cause Sleepless Nights
This two-minute read looks at some simple steps landlords and tenants can take to reduce the risk of condensation causing mould, damp and disputes. What causes condensation? When moist air is cooled by contact with cold surfaces such as walls, windows or mirrors, the moisture condenses into water droplets, AKA: condensation. This can often cause unsightly mould and, in extreme cases, be unhealthy. Not just in terms of physical health but because it’s a common breeding ground for disputes between landlords and tenants. Why should landlords take it seriously? Condensation is more likely to strike when the [...]
Why You Need Generation Z to Rent Out Your Property
They’re young, they’re moving out of their parents’ homes, and they could be your next tenants. We’re talking about Generation Z, the workforce of the future and a generation that’s ready to pay rent. Over the next three years, it’s estimated that Gen Z (born between 1996 and 2012) will pay a larger share of the UK rent bill than any other age group, as found by property giants Hamptons. While it’s true that some 20-somethings choose to stay in the comfy nests made by mum and dad for a bit longer than other age groups, more and [...]
A Quick Guide to Setting Your Monthly Rent
As a landlord, you want to earn a good return on your property investment, but how do you decide what rent to charge? In the current market, rents are at an all-time high, but what’s the fairest way to set your monthly price? In this quick read, we look at how to calculate the right rental price for your property. Check out the local area While not all properties are the same, researching the local market is the first step towards finding out how much rent to charge. Use a combination of local agent sites and nationwide property portals to [...]
Why Manchester Buy-to-Lets Are Still a Good Investment
If you’re a landlord, chances are you’re feeling a bit hard done by at the moment. It seems like every other day, new rules and revisions are being announced around landlord and tenant law, which means you have to change the way you work and may face higher taxes. But is it all doom and gloom? Is it time to hang up your landlord hat and sell up? We definitely don’t think so. In this quick read, we tell you why investing in buy-to-let property is still a good idea if you’ve got the money (and [...]
How Manchester Landlords Can Beat Bug Infestations
If the idea of an insect infestation at your Manchester rental property makes your skin crawl, read on to find out how to beat the bugs this summer. No landlord wants uninvited visitors in their buy-to-let – especially the six-legged variety that spread disease, bite, sting and cause property damage. With insects breeding prolifically in warm weather, here’s a list of the little critters to be on the lookout for in your rental property. Flies: Common house flies reproduce in large numbers, so even if you only have a few buzzing around the place, this can change quickly. Flies [...]
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. [...]
Is Being a Manchester Landlord an Easy Money Maker?
Many people think that being a landlord is easy. Rent out a property, move some people in, sit back and rake in the cash… if only it was that simple. Any experienced landlord knows that owning rental property is hard, and it can be a 24/7 job in the event of any issues. Preparing a property for rent is just the first hurdle; ensuring your tenants are safe and the property is maintained are ongoing requirements. In this quick read, we bust some common myths about landlords and their obligations. Landlords don’t care about safety Wrong! It’s [...]
Why Landlords Should Conduct a Property MOT
It pays to sit down once a year and review how your buy-to-let is performing and flag up any potential issues looming on the horizon. A two-minute read. We’re all familiar with an MOT, an annual check-up to ensure your car is safe and good to go for the year ahead. Well, let’s apply the same concept to a buy-to-let investment. Even if your current tenancy is ticking along nicely, a property MOT can be a helpful exercise to ensure that you: Are up to date with government regulations and maintenance Have the right rental strategy Are [...]
Top Tips for Successful Property Inspections
Inspections are a key part of managing a tenancy so it’s imperative that landlords get them right. Here are some top tips to ensure landlords don’t miss a thing. A two-minute read. We’ve all heard the horror stories about nightmare tenants who trash a rental property, leaving the landlord up to their neck in repair bills and legal costs. Or maintenance issues that were left and became problematic. Thankfully, there are ways landlords can minimise these risks and one key strategy is to conduct regular inspections. Landlords are often diligent with inspections at the start of a tenancy, [...]
Don’t Try This at Home: Three of the Dumbest TikTok DIY Hacks
The DIY hacks you see on TikTok may be entertaining to watch, but they can also be dumb and even downright dangerous. A three-minute read. TikTok is awash with amateur handymen and women dishing out tips, but just how practical and accurate is this advice? When confused.com asked an expert handyman to rate the quality of DIY videos on TikTok, he deemed 39% of the content to be ‘rubbish’ or ‘poor’. Meanwhile, Toolstation surveyed 100 experts – professional plumbers, carpenters, painters and the like – who also raised eyebrows about the standard of the advice on offer. [...]
What Landlords Need to Know about Their Legal Responsibilities
This two-minute read explains how landlords can navigate their way through an ever-growing list of rules and regulations. There’s one rookie mistake that many first-time landlords make when they invest in property – and it can cost them dearly further down the track. While most newbie landlords mull over the obvious financial stuff – like rental income, repairs, mortgage costs and tax – they overlook one other crucial factor in the buy-to-let (BTL) equation: legal responsibilities. As landlords today must comply with more than 175 rules and regulations (many of which are constantly being tinkered with), it’s [...]
Guaranteed Rent or Guaranteed Stress?
As a busy landlord juggling a portfolio of multiple properties, you might be thinking about ways to reduce your workload or secure a regular income. Have you been enticed by promises of guaranteed rent? Guaranteed rental schemes or rent-to-rent (R2R, not R2D2) schemes are growing in popularity. But hold on for a minute, what do they actually mean? In a nutshell, it’s where you rent your property to a rent guarantee specialist who promises to pay you a certain amount every month and takes on the burden of managing your property. Sounds great, doesn’t it? But is [...]
Guide to Switching Letting Agents
This two-minute read looks at why landlords should change letting agents and how it can benefit them. Did you know that lots of people pay more for their phone bills, car insurance or Wi-Fi simply because the thought of changing providers is too stressful? This is like a lot of landlords – they stick with the same letting agent they’ve used for years just because it’s easier to stay put. We hate change. Why rock the boat? Sure, the boat may be leaking and have a dodgy fish smell, but is it really that bad? Well, dodgy [...]
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 [...]
Four Things You Must Do If You’re an Accidental Landlord
If you’ve become a landlord due to unexpected circumstances such as bereavement or a new relationship, here’s some helpful advice. A two-minute read. It’s surprising how many people become landlords more by chance than design – or in other words, ‘accidental landlords’. Whether through inheritance, a change in a relationship or a new job, sometimes people find themselves in the (rather fortunate) position of owning a property that they don’t want or need to live in. And instead of selling up, the owner decides to rent the property out. While this usually works out well in the [...]
Reasons Why Your Manchester Letting Agents Can Save You Time and Money
As trusted local letting agents, we work with a lot of landlords. Finding tenants, managing properties, organising inspections – we take care of each step. However, more and more landlords are choosing to work alone, but is it as easy as they think? Here’s why we think working with an agent is the best way to rent out your property. Save time Even if you’re a full-time landlord, finding, vetting, and keeping tenants happy is time-consuming. While there are many online options for finding tenants, there’s a lot to be said for an experienced letting agent taking care of [...]
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 [...]
Five Stress Management Tips
Whichever way you look at it, modern life is stressful. And the 2020s? Well so far, this new decade has caused unparalleled levels of stress. Whether it’s the pressure of daily life, the juggling of responsibilities, or the state of the world right now, stress can have physical, mental, and emotional repercussions for people of all ages. And it needs to be taken seriously. April is Stress Awareness Month, an initiative that has been running since 1992, designed to highlight the causes and cures for stress. This year, the Stress Management Society is focusing on community, reducing isolation [...]
Are Manchester Landlords Penny Wise but Pound Foolish?
In this two-minute read, we look at the false economies many landlords in Manchester are making regarding their rental properties. Many of us realise doing a bit of DIY can save you money. But it comes with a caveat that you must know what you’re doing first. For every successful bit of hallway decorating, there are dozens of tales of lopsided shelves, incorrectly fitted taps, and a whole host of other DIY disasters and fails. And this risky approach doesn’t just apply to home DIY – we often see it when a landlord tries to do everything themselves. Here are [...]