When you are renting a property, it’s essentially a sale. Make a good sale, and you have tenants that might even stay a decade. Imagine that! A perfect tenant, that stays and pays on time. You never have any issues, they look after the property and you never have to worry about your property being empty, with mortgage payments to make – costly renovations, and all the hassle of advertising the property for new tenants. So, how do you get tenants to stay? Well, here are a few helpful tips, to get tenants to stay longer.
Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: Build to rent sector accounts for 1% of all housing; House purchases up to highest quarterly level since 2007; Lockdown has changed buyers’ requirements for their next home; One fifth of UK homeowners unable to remortgage due to pandemic; Rental market activity remains robust despite lockdown pressures; Stamp duty holiday rumoured to be extended until June… Happy reading and… renting!
It’s easy enough to assume that rent minus mortgage fees equals profit for you as a landlord. But there are far more expenses involved in renting property, and if you were to go on this simple equation, you’d soon find yourself out of business. In this short guide, we take a look at the expenses you will encounter being a landlord and how you can keep track.
Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: House prices in Prime Central London down 4.3%; UK House Price Growth Hits Six-Year High As Rent Inflation Eases; City centre rents hit hard as tenants move to suburbs; UK mortgage approvals at record high in 2020; UK renters snap up properties 30% faster amid flight for green space; Proportion of UK landlords buying in cash falls to lowest figure on record… Happy reading and… renting!
- Complete any repairs
- Check the plumbing, heating and electrical
- Clean the property
- Have all necessary inspections completed
- Change the locks
- Complete any tenant requests
- Collect the first month’s rent and security deposit
- Sign the new lease
- Go through the move-in checklist with your tenant
- Give the tenant your contact details
- Things to remember
So you’ve found a tenant to move into your property. Great! But there are still some things you need to do before you can hand over the keys and collect your monthly rent.
Making a checklist is easy and will make sure that everything is in order, so you can sit back and relax with what should be a mutually beneficial arrangement. Here’s a super easy checklist to tick through and cross off, as you go.
Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: UK house prices end 2020 on record high but growth slows; London saw greatest number of homes bought in 2020; Property sector can build UK out of Covid crisis; Top tips on how to get a mortgage if you’re self-employed; HSBC UK will re-introduce 10% deposit mortgages; Coronavirus: 840,000 renters are in arrears; Mayor of London calls for eviction ban extension for private renters; These are the top 20 happiest places to live in Britain… Happy reading and… renting!
Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: UK house prices dip as sellers eye end of tax break; Housing demand reaches highest level on record for October; Mortgage applications double between 2019 and 2020; Petition calling for evictions after two weeks’ rent arrears hits 10,000 signatures; A Brand New Law Could Give Renters The Right To Keep Pets In Their Homes; Landlords join home-buyer rush to beat stamp duty holiday deadline… Happy reading and… renting!
If you’re a first-time landlord in the rental business, there are lots of things to learn to maximise the profits of your new business venture. Take a few minutes to check out our 10 tips for first-time landlords.
Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: UK property still looks to Europe; Scottish rental market is fastest – and cheapest – in the UK; Lockdown returns but lending continues; Mortgage holidays to be extended for up to six months amid England lockdown; UK Finance: 2.6 million mortgage deferrals have been approved; Rent in Great Britain rises for the first time since March 2020; One in eight renters unable to meet housing costs in full; When do people purchase their first property?… Happy reading and… renting!
Using a property manager can seriously eat into your margins. London property managers typically charge 10-30% of the rental value. With these kinds of charges, you’ll be forced to raise the rental value making your property less competitive. It’s easy enough to manage properties yourself. Start by managing one property and then as your portfolio gets larger, you’ll be organised and able to scale the task. Check out our quick guide on how to manage properties.