As an independent property owner, you need to find good tenants, set fair rules, and keep everyone happy. However, there are certain things tenants are not allowed to do while renting, and you should know about these to save you from any potential headaches.
Tag Archives: Tenancy
The Difference Between a Holding Deposit and a Tenancy Deposit
- What is a holding deposit?
- What Is a Tenancy Deposit?
- What Is the Difference Between the Two Deposits?
- How Does the Tenancy Deposit Scheme (TDS) Work?
- Legal Requirements for the Holding Deposit and Tenancy Deposit?
- How Rentila Can Help Independent Landlords With Their Deposits
- Frequently Asked Questions
- Things to remember
Every independent UK landlord has undoubtedly heard of holding deposits and tenancy deposits. However, do you understand the differences between the two? Although they’re both payments made to landlords by tenants as part of a tenancy agreement, there are some key distinctions that every landlord should be aware of.
In this article, we’ll explain the difference between a holding deposit and a tenancy deposit, as well as provide helpful advice on managing them both.
Common Causes Of Stress For Landlords
If you are considering becoming a landlord because you think it will be a stress-free experience as you sit back and collect rental income, then think again.
Being a landlord can be just as stressful as a 9-5 job. Sure there’s no boss to order you about being a landlord. Still, similarly, a day job doesn’t involve putting down a serious amount of your income and being responsible for monthly mortgage payments for years.
This blog covers what causes landlords the biggest headaches and a few tips to help.
What Do Tenants Look For When Renting
As a landlord (possibly with a few properties), you may know what you like and think you know what your tenants want. But at Rentila, we have our finger on the pulse of what tenants are looking for in a rental property. So read on to ensure you keep up with current rental market trends.
Should You Renovate Your Buy-to-let Property
Choosing to renovate a buy-to-let property is an entirely different decision from remodeling a home. If you decide to renovate a family home, that’s more to do with a family’s need for space. But when it comes to buy-to-let property, decisions should be based on financial circumstances. So, if you are currently in a quandary as to whether you should renovate your BTL, sit back for 5 minutes and let us help you out with the number crunching.
How to change a Tenancy Agreement?
Generally speaking, tenancy agreements, once signed, are binding. It’s not necessarily straightforward to change a tenancy agreement, such as would be required if the landlord is interested in adding or removing a person or persons to the terms of the agreement. There’s no way for one party to force these changes through while still remaining compliant with the relevant regulations specified in UK law. Rather, any changes to the tenancy agreement must be mutually agreed upon by both the lessor and the lessee.
HMO (House in Multiple Occupation) ABC
House in Multiple Occupation (HMO) refers to a property that is inhabited by more than one separate occupant. They are becoming more and more popular in the UK and in other countries around the world because of the opportunities they offer to their landlords. By renting out one property in separate portions to different tenants, a landlord can generate a decent income in rental yields monthly.
Tenancy Agreements: A 5-minute guide for landlords
- What is a tenancy agreement?
- What are the types of tenancy agreements, and which should I use?
- Assured Shorthold Tenancy Agreements
- Assured Shorthold Tenancy Agreements (Room only)
- Excluded Tenancy Agreements (Lodgers Agreement)
- Company Let Agreements
- Non-Assured Tenancy Agreements
- Assured Tenancy
- Regulated Tenancy
- Adding additional terms to your tenancy agreement
- Important things to remember
If you’re renting out a property, you’ll need to provide a tenancy agreement. However, there are many types of tenancy agreements, so it can be confusing to know which one to use. After reading this five-minute guide, you’ll be confident you know which contract you need.
Tenancy Security Deposit: A 5-minute guide for landlords
- What is a security deposit, and how much can I ask?
- When is it paid?
- Do I have to charge a deposit?
- How to calculate a deposit
- What is the deposit protection scheme?
- What do I need to know about deposit protection law?
- What are the penalties for not abiding by the deposit protection law?
- What schemes can I use?
- Must I hand the deposit over to the scheme?
- How to avoid disputes with your tenants
- Do I need to return the whole deposit and how long do I have to do this?
- Can I charge for referencing during a tenancy application?
- If new laws mean I have to take pets can I charge a higher deposit?
- Tenancy Deposits: Things to remember
You’ve made the ideal investment and have furnished your rental property. You’ve checked the references of your soon-to-be tenant. But you also want to take a security deposit to protect yourself from any damages down the line. Here’s the lowdown on what you need to know.
How Can A Landlord End A Tenancy In The UK?
In an ideal world, no landlord would ever have to end a tenancy early. Unfortunately, however, we don’t live in an ideal world, and as a result, ending tenancies early is something that both landlords and tenants have to be prepared for. Given that it happens so often and for so many reasons, there’s a lot of confusion out there when it comes to what the specific precedent needs to be in order to comply with UK law. A single Google search throws up thousands upon thousands of results, meaning that for landlords and tenants both, the topic can be overwhelming at times.