Letting agents used to be the crutch to support landlords in running an efficient rental property. But with UK landlords now facing higher taxes, many are turning to DIY solutions to boost their bottom line.
When renovating a rental property, every landlord has a budget – and it’s usually a pretty strict one. While you want your tenants to live somewhere nice, running a rental property is a business, and protecting your bottom line is always important.
Generally, it’s fairly easy to tell if a property portfolio is making money. But identifying areas where income can be maximised isn’t so straightforward. It requires strategic tracking, concise expenditure mapping, and deliberate planning to achieve. Tracking KPIs (Key Performance Indicators) is the first step for landlords aiming to grow their portfolio and maximise returns. In property management, KPIs represent measurable aspects of the business that landlords can monitor and improve to drive long-term success.
Many landlords look to expand their property portfolio, but with rules and regulations continuously growing (not to mention changing tax returns and tenant rights), managing multiple rental properties is getting trickier.
Ten years ago, no one could’ve predicted the way the rental market has shaped up in recent years. But right now, we have more intel than ever about what innovations are taking UK property management by storm, and what policies renters are aligning themselves with for the future.
Build-to-rent is a hot topic in the property industry right now – with concerns growing among private landlords about what this means for the success of their portfolios.
Rental arrears are one of the biggest risks for landlords. While most missed payments are simple mistakes, one late rent payment can quickly turn sour and leave landlords having to pursue further action.
To say the UK property market has been disruptive in recent years is likely an understatement. Rising interest rates and high levels of inflation – coupled with soaring costs of living – have left many landlords less than certain about the future.
The costs of being a landlord are ever-increasing and it’s tempting to shave a few pounds off the bottom line whenever you can. But is skipping rent guarantee insurance the way to do it? It certainly comes with its risks.