Author: paulowen
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. [...]
Why Property Management is Value for Money for Landlords
As a landlord, you might have invested in property for additional income; maybe it’s a way to save for your future, or perhaps you’re an accidental landlord and had to rent your property out due to a change in circumstances. Whatever the reason, it’s a safe bet that you want to make a good return on your investment. But while you’re happy to use a letting agent to find tenants, when it comes down to it, you just can’t bring yourself to pay them to manage the property for you. This might just be one of your biggest mistakes. In [...]
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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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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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 [...]
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. [...]
How Manchester Homeowners Can Take Their Garden to the Next Level
If you’re planning to entertain friends or family at home this summer, check out the latest must-have garden gadgets and accessories. A two-minute read. Spending time in your own garden, be it pottering around alone or entertaining family and friends, is one of the true joys of summer. And there’s a host of products on the market to help you make the most of the experience. Here’s a list of what is proving popular at the moment. Garden fireballs – Fire pits were a hit last summer, but this year, it’s all about the fireball. Like a [...]
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, [...]
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Top Tips for Finding the Best Tenants
The secret to a smooth-running tenancy is good tenants. Here’s how to find them. A two-minute read. There are few guarantees in life, but we promise you this: let your property to a bad tenant, and your job as a landlord will get much more complicated. Expect to be out of pocket (due to missed rent payments and damage to your property) and stressed (dealing with nightmare tenants is, to state the obvious, a nightmare!). The key to avoiding this kind of turmoil is to find a good tenant who will treat you and your property with respect. This [...]
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 [...]
A Landlord’s Guide to HMOs in Manchester
As a landlord, you might be thinking about how to get more value from your property. While the rental market for single tenancies is booming, have you considered a House in Multiple Occupation (HMO)? These days, HMOs are big business. In simple terms, it’s where a single property is made into multiple dwellings. And currently, the rental market is crying out for more. HMOs are no longer dingy bedsits of the past, they’re more like high-quality studio apartments under one roof. In this three-minute read, we take you through the basics of an HMO, what you need [...]
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 [...]
All You Need to Know about Double Glazing for Your Manchester home
Before you were a property owner, chances are windows were something you just looked out of to take in the view. You probably didn’t give them much thought and you might have cleaned them occasionally. That was it. Now, as a homeowner, your single, double, or triple glazing means so much more. And if you’re about to renovate a property or upgrade your windows, it’s worth diving into the fascinating world of double glazing to find out more. (Honestly, it’s pretty interesting.) In this quick read, we look at different types of windows and why they matter, especially [...]
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 [...]
What to Do Before Renting Your Property to Family or Friends 👪
Here are some questions you should ask yourself before you rent your property to family or friends. Do they need to sign a tenancy agreement? Yes, yes, and yes again! They might be family, but they’re also your tenants and both parties need to know what is expected of them. For example, they might say they want to stay for 12 months but then leave after just six. Without a tenancy agreement, there’s nothing to stop them – putting your income at risk. Should I take a deposit? This is a personal decision that you need to make, [...]
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 [...]
🛠️ Repairs and Maintenance – What Are a Landlord’s Responsibilities? 💣
This two-minute read details a five-point plan to help landlords manage their maintenance responsibilities. There’s no quick fix when it comes to maintenance and repairs; to avoid stressful and costly tenant disputes, landlords need to be organised and proactive. Who is responsible for what? Always check your contract, but as a general rule, landlords are responsible for structural features like walls and chimneys, along with windows, drains, stairs, toilets, showers, pipework, the boiler, and electrics. If the property has a garden, the landlord is responsible for things like lopping tree branches and repairing fences. But it’s a two-way [...]
Reference Checks: Tips for Manchester Landlords
Don’t make the rookie mistake of cutting corners with reference checks – it’s a sure-fire way to wind up with a nightmare tenant. A three-minute read. When it comes to tenant selection, there’s a saying that all landlords should heed: Go with the right tenant, not the first tenant. Sometimes, landlords are so eager to see rent payments rolling in that they treat the reference checking process as a tick-box exercise rather than an investigative one. But rushing to greenlight the first person willing to take your property can come back to haunt you. What do [...]
What Manchester Landlords Need to Know about Ending a Tenancy 👋
This two-minute read looks at why landlords end tenancies and the issues and implications around taking such a step. From toxic tenants to financial friction – there are many reasons why a landlord might want to end a tenancy. These reasons can include: The tenant has breached their contract by missing rent payments, subletting, or trashing the property. Relations between the tenant and landlord have turned toxic. The property is in need of repair, and it would be easier and less disruptive if the property were empty. The landlord wants to live in the property. Financial reasons mean [...]
The Generation Game: What Manchester Tenants Look for in a Property
This three-minute read looks at the changing rental market and what it means for landlords. With the rental market changing enormously over the past decade, savvy landlords need to stay on their toes to make the most of their investment. General trends Since 2010, the sector has almost doubled in size; these days, about 19% of all households rent. Many tenants are renting for longer. Renting is no longer all about young singletons. An increasing number of renters are aged 35 to 44 and have children. Increased red tape: the number of laws relating to landlords has jumped [...]
Five Reasons Landlords Leave the Rental Market in Manchester
A three-minute must-read if you’re a landlord considering selling. It’s often thought that being a landlord is easy: buy a property, rent it out, and hey presto! You’re all set. Unfortunately, it’s never that simple, and many landlords look to sell up for an easier life. Whether it’s age, personal circumstances or changes in the law, in this article, we explore five common reasons why UK landlords sell their properties. Tenant issues Let’s be honest, no landlord wants to take a call at 10pm from a tenant who has locked themselves out or can’t get the heating [...]
Four Home Security Tips for Manchester Residents
This two-minute read looks at the best way to protect your home and outsmart burglars. With a raft of high-tech home security gadgets on the market, it’s easier than ever to keep your family, pets, and precious belongings safe. Whether installing a completely new system or tightening up existing security measures, Manchester homeowners have plenty of options to choose from. Smart system There’s an app for everything these days – including home security. A smart system wirelessly links alarms, sensors, and cameras to a hub that you can manage remotely from your phone. Some systems can also [...]
Two Top Tax Tips for Manchester Landlords
This two-minute read includes some handy tax advice for landlords. Our tax system is often criticised for being complicated and unwieldy, but by following two simple rules you can take the stress and hassle out of filing a return. Rule Number 1: Do your homework Raise your hand if you find the subject of tax dull? You’re not alone, many people cite tax as a conversation killer (right up there with religion and politics). And because they find it boring, they don’t bother to learn much about it or keep abreast of rule changes. The problem [...]
How to Make a Spare Room Work Best for You
We look at what you can do with a spare room to ensure you’re making the most out of it in this two-minute read. Now’s the time to give your spare room some serious thought about how to make the best use of this extra space in your home. Especially after the past 18 months we’ve all experienced, which have changed the way many people use it. Below are seven things you can do to create a room that suits your lifestyle and situation. Home office 🧑💼 – Yes, we know you may already be doing this but have you [...]
Do Landlords in Manchester Need to Set Up Limited Companies?
In this two-minute read, we have a quick look at what you need to consider when becoming a landlord. Before becoming a landlord, you need to consider how you want to buy your rental property. There’s lots of tricky tax stuff to consider and changes to tax relief over the last few years mean that becoming a landlord might not be as profitable as you first think. So, what should you do? Should you buy a rental property in your personal name or via a limited company? Setting up a limited company Since 2016, more private companies [...]
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Are You a Landlord or a Property Investor in Manchester?
In this two-minute read, we look at the differences between landlords and property investors. What’s the difference between a landlord and a property investor? Aren’t they the same thing? Does one rent out properties and the other sell them on? If these questions have got you scratching your head, read on. Long term vs short term Keeping it simple, a landlord makes a regular income from renting properties to tenants. They are responsible for maintenance and managing the property. It’s also likely that they hold onto the property for the long term. A property investor is trickier to define. [...]
How Manchester Residents Can Save on Energy Costs
This two-minute read looks at how to trim down your energy bills. Householders were hit with budget-busting energy price hikes in 2021 – a trend that looks set to continue well into the new year. Here are some ways to claw back some cash on your heating bills and help the environment at the same time. Small steps Individually these measures offer modest gains but put them together, and you’ll notice the benefits. Use energy-efficient light bulbs. Switch off appliances at the socket when you’re not using them. Turn your boiler down by a few degrees. [...]
Rent Guarantors: What Manchester Landlords Need to Know
This three-minute read explains the role of rent guarantors. When a landlord has a niggle of anxiety over whether a prospective tenant will pay their rent, there is a way they can help protect their investment. A landlord can ask a tenant to provide a guarantor to ‘guarantee the tenancy’. Guarantors are often family members or close friends – and a little bit like a human safety net. If the tenant can’t (or won’t) pay what they owe the landlord, the guarantor has to stump up the cash – or face the landlord in court. Extent [...]
Why Manchester Landlords Can’t Afford to Cut Corners
In this three-minute read, we look at the growing calls for tougher action against rogue landlords. Landlords who struggle with all the rules and regulations associated with renting out a property – be warned. Councils are coming under increasing pressure to throw the book at landlords who flout the law. Even if you’ve gotten away with a ‘near enough is good enough’ approach so far, winging it isn’t a sustainable long-term strategy. Calls for a get-tough approach The demand for stricter enforcement is coming from two sides: tenants’ rights groups (as you might expect) and the [...]
How Landlords in Manchester Can Increase Their Profits Ethically
In this two-minute read, we look at five fundamental ways landlords in Manchester can make their rental properties more profitable. Some people think the only way landlords can make more profit is to ruthlessly keep hiking up their tenants’ rent. But that’s incorrect on two fronts. Firstly, continually increasing a tenant’s rent is no strategy to keep them long term. Secondly, the five ways we’re about to share with you can increase your bottom line without being mercenary. Review your mortgage rates – regularly: Start by lowering your biggest regular cost – your buy-to-let mortgage. It’s possible to secure a [...]
Sustainable Housing: Three Examples of Old-School Low-Carbon Living
In this two-minute read, we look at three remote communities that have long embraced sustainable living. With the interest raised by the COP26 summit highlighting the desperate need to cut carbon emissions, housing sustainability has become a hot topic. In the UK, there’s been lots of talk about using new technology to help reduce our carbon footprint. Given the average UK household emits 2.7 tonnes of CO2 a year from heating their home*, it certainly makes sense to utilise tech, where we can, to save the planet. But sustainable housing isn’t a new concept; some communities [...]
Seven Ways to Find AND Keep Great Tenants in Manchester
In this three-minute read, we look at how landlords in Manchester can find and keep terrific tenants. ‘Finders keepers, losers weepers.’ It’s a timeless rhyme used every day in school playgrounds in Manchester and all over the UK. It often applies to someone finding something that’s unowned or abandoned. But it also resonates with local landlords when it comes to having the second most important piece of the rental puzzle – great tenants. Finding these excellent tenants is one thing. Keeping them is another. And some landlords lose these precious people because of basic, unnecessary errors. It’s enough to make [...]
Carbon Monoxide Poisoning: What Manchester Landlords Need to Know
In this three-minute read, we examine the dangers posed by carbon monoxide. We recently read a statistic about private landlords that left us scratching our heads. A whopping 56% of private renters say they live in a property that doesn’t have a carbon monoxide alarm*. Can such a high percentage of landlords really be ignoring safety advice and flouting regulations on carbon monoxide alarms? By law, any room in a rental property with a solid fuel-burning device must have a working carbon monoxide alarm. These rules are there for a good reason – carbon monoxide [...]
What is acting in a tenant-like manner?
The term 'tenant-like manner' comes from the judgement of Lord Denning in Warren v Keen back in 1953. The tenant must take proper care of the place. He must, if he is going away for the winter, turn off the water and empty the boiler; he must clean the chimneys when necessary and also the windows; he must mend the electric light when it fuses; he must unstop the sink when it is blocked by his waste. In short, he must do the little jobs around the place which a reasonable tenant would do. In addition, he must not, of [...]
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 [...]
Whether You’re Buying Or Renting in Manchester, You’ll Regret Not Reading This … Probably
In this two-minute read, we look at avoiding regret when it comes to buying or renting a new home. We’ve all had it – that gnawing sense of buyer’s remorse when we’ve made a purchase. It could be the make of that new car you’ve ordered. Or the colour of that dress that looked good online, but will it have a wow factor when the delivery driver drops it off? Or something as simple as ordering a dish in a restaurant that you suddenly wish you hadn’t as your friend’s requested meal sounds infinitely more appetising. On a more serious [...]
Seven Top Tips for Renters in Manchester
In this two-minute read, we look at how renters in Manchester can take the hassle out of finding a place to live. Are you looking to move into a new rental property? Here’s a guide to finding a new home. Research 🔍 Identify where you would like to live and what kind of property you’re looking for. For example, if you work from home, you might need office space. If you have children, you may want a garden. Having a clear idea of your needs means you won’t waste time looking at totally unsuitable properties. Once you’ve made up your mind, [...]
How to Build a Property Portfolio in Manchester
n this two-minute read, we look at the basics of building your portfolio and how to try and make your investment a sound one. Building a property portfolio might sound like a great way to build an additional income, but it can be a tricky area to navigate with lots of pros and cons. Getting started First things first, where is the cash coming from? Have you already got a property and looking to buy a second? Or maybe you’re tentatively dipping your toes into the rental property market for the first time. Whether you’re refinancing an [...]
To Furnish or Not to Furnish? A Landlord’s Dilemma
In this two-minute read, we ask some questions you should think about before renting out your property in Manchester. Once the last lick of paint has been applied and the carpets have been laid, it’s time to decide whether or not to furnish your rental property. It’s a question that has many landlords scratching their heads. Does a furnished property command a higher rental yield? Or is it more hassle than it’s worth? What type of rental property do you have? Certain rental properties need to be furnished. For example, if you own a House in Multiple [...]
How Landlords Can Develop a Winning Edge
In this three-minute read, we look at how landlords can gain the winning edge, starting with deposit disputes. We know the Olympics have just finished but indulge us if you will as we explain how a popular sports-related concept used by top athletes can help landlords. You might already be familiar with the theory of ‘marginal gains’. It’s based on the notion that you’ll reap major rewards if you make small, incremental improvements across several areas. If you’re a cyclist, you might focus on improving your nutrition, recovery, and mindset. While each small gain isn’t necessarily [...]
A Landlord’s Work is Never Done – Or Is It?
In this two-minute read, we look at why landlords who self-manage their buy-to-lets can never really put their feet up at Christmas. Picture this: It’s 4pm on Christmas Day, and you’ve just snuggled down on the sofa to watch a bit of telly. Your belly is full, and your lids are heavy after a Mistletoe Margarita or two (or three, but who’s counting?). Then your phone rings. It’s your tenant – and there’s a problem. A pipe has burst in the flat that they rent from you and there is water everywhere. You need to get a [...]
When Evictions Are the Only Option 👨⚖️
This three-minute read explores the reasons why evictions happen and how they are carried out. Getting to the stage where you have to evict your tenants is difficult for everyone involved and should always be considered as a last resort. It might be deemed necessary when: The tenant isn’t paying the rent The tenant has abandoned the property The tenant has broken a term of the tenancy Due to the pandemic, the rules have changed as to when you can start eviction proceedings. Also, different tenancy types have different rules as to the process. There is a very specific process [...]
Buy-to-Let Mortgages: What Landlords Need to Know
In this three-minute read, we compare the different types of buy-to-let mortgages. When choosing the right buy-to-let mortgage, landlords face a key decision: go with an interest-only deal or opt for a capital repayment arrangement. Both options have their pros and cons. Let’s take a closer look. Interest-only mortgage Your payments only cover the interest on the loan and have no impact on the capital. Pros Lower repayments Your monthly repayments are lower than that of an equivalent capital repayment mortgage. For example, with a 25-year interest-only mortgage of £200,000, monthly repayments would be £573 (4.45%, fixed for [...]
Top Tips for Manchester Landlords about Garden Maintenance🏡
In this three-minute read, we look at who is responsible for maintaining the garden at a rental property. The most significant property trend to emerge from the pandemic has been the surge in demand – from buyers and renters – for properties with gardens. The race for space is undoubtedly good news for landlords marketing properties with a garden, balcony, or courtyard. And it’s not just easier to rent out a property with a garden; it’s more lucrative, too. New research shows renters are willing to pay on average 25% more for a home with a garden*. But letting [...]
How Manchester Landlords Can Avoid a Tenant Nightmare
In this three-minute read, we look at what can go wrong if you side-step tenant reference checks and wind up with a bad tenant. New landlords often flirt with the idea of ditching traditional tenant selection processes and taking a DIY approach instead. After all, there are so many ways to source tenants these days – like Gumtree or social media – why bother with anything else? Trust us, side-stepping a formal selection process may seem like it might save you time, but it can be so much costlier in the long run. Wind up with a bad tenant [...]
Six Reasons Why Manchester Landlords Shouldn’t Get Lax with Inspections 🧐
In this three-minute read, we look at why regular inspections should be central to your property management strategy. When you’re a busy landlord juggling a multitude of responsibilities, it’s easy to let a crucial part of managing a property – regular inspections – slide. Landlords usually carry out inspections with clockwork regularity at the start of a tenancy, but things can get a little lax over time. Perhaps the tenant presents as a model citizen, and the landlord develops a false sense of security. (To which we say, remember Walter White, the unassuming science teacher turned crystal meth baron [...]
Do Manchester Landlords Need to Register with the ICO?
This two-minute read takes a look at the ICO and what Manchester landlords need to do. Back in 2018, the rules around the General Data Protection Regulation (GDPR) and data handling changed. Things like ‘This website uses cookies; do you accept?’ popped up everywhere. The ICO is the Information Commissioner’s Office and covers the whole of the UK. The ICO website explains that they are ‘The UK’s independent authority set up to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals.’ It’s the law It doesn’t matter how many properties [...]
How Manchester Landlords Can Avoid Tenant Disputes about Cleaning
Here we look at ways landlords can prevent losing money in disputes about cleaning. It’s not just couples who bicker over who did or didn’t scrub the bathroom; landlords and tenants can often find themselves at odds on the thorny issue of cleaning. In fact, it’s the most common cause of landlord/tenant discord – 42% of end-of-tenancy disputes are about cleaning*. Here are some tips for Manchester landlords on how to avoid losing money on cleaning disputes. Be realistic Tenants should leave a property in the same condition it was in at the start of the tenancy – with one [...]
Seven Ways Manchester Residents Can Avoid Cowboy Builders 🤠
We look at how Manchester homeowners can protect themselves from unscrupulous builders. We’ve all heard the renovation horror stories. The builder who does a runner halfway through a job, leaving a homeowner out of pocket and living in a construction site. The messy contractual dispute that winds up in court and ends in tears. Or the new roof that leaks at the first drop of rain. The good news is that by following a few simple steps, Manchester property owners can avoid getting ripped off. Jonny Greve, an experienced builder who runs the respected construction firm Greve and Son in [...]
What’s the Rental Return on Your Manchester Buy-to-Let Property?
A two-minute read to help you quickly determine the return on a buy-to-let property in Manchester If you’re looking for a property to rent out, it’s important to understand the numbers involved. You may have inherited a property and are thinking of letting it. Use the information here to identify if that is a prudent thing to do or if the capital from selling the property could be better invested. Find the numbers The simplest way to work out your gross return on a rental is to estimate some numbers. You can have a browse on the property portals [...]
Being a Landlord in Manchester: The Risks and How to Avoid Them
Having a rental property can be a great way to earn some extra income. Like anything, there are a variety of things that can go wrong. We break down five of the most common ones. 🏚️ The wrong property Being a landlord means running a business. You’re not buying a property for you to live in. Tenants often have very different expectations when looking for a rental property. Don’t turn down a great opportunity because you wouldn’t like to live in it. 🤼 The wrong tenant(s) Choosing a good tenant is the second most important decision you’ll [...]
Stress-Busting Tips for Property Management in Manchester
In this two-minute read, we show you how to keep calm and in control when letting your Manchester property. The idea that investing in rental property is easy passive income is a myth. Letting and managing rental property can be stressful, especially for inexperienced or accidental landlords. This month sees the championing of Stress Awareness Month; an annual event which recognises the dangers of modern-day stress and provides valuable coping strategies. If you are wading through tenancy treacle, read our top tips to temper your tension. Do your homework Whether it’s a simple credit check or a comprehensive background [...]
How Letting Agents Save Manchester Landlords Time
In this two-minute read, we look at how letting agents handle the fiddly, time-consuming elements of renting out a property (part two of a two-part series). In part two of our series on property management, we look at how letting agents save landlords time – that precious commodity that is always in short supply. A survey of 500 landlords found that using a letting agent saves a landlord on average six hours a month (source: Endsleigh Insurance). We would go further and argue that letting agents don’t just save landlords time, but the right sort of time. It’s one thing [...]
Top Reasons Why Landlords Should Use a Letting Agent
In this two-minute read, we look at the benefits of using a letting agent to manage your rental property (part one of a two-part series). Almost every landlord has weighed up the merits of self-managing their rental property versus using a letting agent. After all, why pay someone to do something you do yourself, eh? It’s a reasonable enough question to which we have an emphatic answer: there are many reasons to get an expert to manage your investment property (we can think of at least 12). It makes sense from a financial point of view (as we’ll explain [...]
Deposit Disputes: How Manchester Landlords Can Avoid the Most Common Cause of Conflict
In this three-minute read, we look at how Manchester landlords can protect themselves from getting caught up in the most common cause of end-of-tenancy disputes. When a tenancy comes to an end, one issue more than any other causes disagreements. And it’s not holes in walls or missing rent payments that take the number one spot. According to recent data* cleaning is the most common cause of strife. Yes, that’s right, grotty carpets, greasy ovens and filthy loos most often turn out to be the bone of contention between tenant and landlord. The latest figures (which cover the year up to [...]
Landlord in Manchester Here’s How You Can Benefit from Technology
In this two-minute read, we look at how technology can help landlords be more successful, do their bit for the planet, protect their tenants, and save money. From smart TVs to one-click shopping, technology makes life a whole lot easier than it was 20 years ago for the average person. It also has many benefits for private landlords and their tenants. Here are our top tech tips. Remote viewings There has been a surge in online viewings due to Covid-19. Pre-recorded tours mean prospective tenants can view properties at their leisure and your convenience – and on more [...]
Seven Ways Manchester Landlords Can Make a Tenant Feel at Home💖
In this three-minute read, we look at a new report that outlines how Manchester landlords can build a long and prosperous partnership with their tenant. What’s the secret to a successful tenant/landlord relationship? It’s a question that has vexed property gurus through the ages, but now the University of Stirling thinks it has the answer. A new report from the university, Making a Home in the Private Rented Sector, says the key to a long and happy property partnership is to make a tenant feel at home. After all, if a tenant feels safe and settled, they’ll be happier and healthier, [...]
How to Advise Tenants Who Won’t Be Told about Mould
In this three-minute read, we look at what a new survey about mould in UK homes reveals about the tenant/landlord relationship. Let's unpack what Manchester landlords can learn from the findings of the memorably titled Mouldy Nation Report. Firstly, before you ask, yes there really is a document called the Mouldy Nation Report (we're not making it up). Uswitch, an energy and finance comparison website, produced the report after surveying 2,000 people from across the UK about mould in their homes. It found that: 62% of people have an issue with mould in their home. Of those with a mould problem, [...]
Advice for First-Time Landlords in Manchester
In this three-minute read, we share five top tips if you’re thinking about renting out your property for the first time. Deciding to become a landlord is a big step. 😕 It can be both exciting and daunting. Here at myhouse Agents we’ve got some tips on what you need to think about when renting out a property so you can make your first venture a smooth one. Do some market research To work out how much rent you could be expecting, have a look at similar properties in Manchester. If you’re not sure much you should be [...]
How Manchester Landlords Can Turn the Tables on Unflattering Stereotypes
How Manchester Landlords Can Turn the Tables on Unflattering Stereotypes In this two-minute read, we look at the benefits of building a good relationship with your tenant. Type' landlords are' into Google, and the words that come up next are pretty unflattering. According to the global digital giant, the most commonly searched phrases are 'landlords are parasites' and 'landlords are leeches'. A few other choice terms – that we're too polite to use here – come up as well, but you get the drift. There is a common public perception that all landlords are modern-day Fagins, renting out flea-ridden [...]
Good Tenants + Great Letting Agents = Happy Landlords in Manchester
Good Tenants + Great Letting Agents = Happy Landlords in Manchester In this three-minute read, we look at the two biggest decisions landlords in Manchester make when renting out their property. Life is a daily merry-go-round of decision making. What to eat for breakfast? Which coat to put on? Which queue to stand in at the supermarket (socially distanced, of course)? Some decisions are a lot more impactful than others. Especially when you are a landlord with a rental property. The two biggest choices for you as a landlord, which we are about to reveal, can have substantial knock-on [...]
Five Super Tips to Make Renting Simpler in Manchester
Five Super Tips to Make Renting Simpler in Manchester In this two-minute read, we look at five fantastic tips to help people looking to rent a property in Manchester One thing that seems almost Covid-19 proof is the desire for people in Manchester to move home. The local rental property market has proven resilient this year, with people looking to rent new places to call home. Below are five tips that’ll come in handy if you’re looking to rent. Prepare Properly Consider when you want to move and where you want to rent. Research the areas and the properties [...]
Document and Paperwork Checklist for Landlords in Manchester
Document and Paperwork Checklist for Landlords in Manchester In this three-minute read, we look at the documentation landlords need to meet their legal obligations – and avoid messy disputes. First-time landlords often make the rookie mistake of underestimating the amount of paperwork involved in letting a property. Many assume that once the ink dries on a tenancy agreement, they’ve got the paperwork sorted – but nothing could be further from the truth. Record-keeping is an integral part of a landlord’s duties and falls into two categories: Documents that you must keep. Landlords are required by law to keep records [...]
Is a Legionella Risk Assessment a Legal Responsibility?
👀 Legionnaires’ disease Legionella is a bacterium which is capable of spreading a collection of diseases termed as Legionellosis. These diseases may be fatal like Legionnaires’ disease or may be less serious like Pontiac fever Legionnaires’ disease is a fatal form of pneumonia caused by inhaling the bacterium Legionella pneumophila that can be found naturally in water resources such as fresh water lakes, and reservoirs. Showers, boilers and other smaller tanks may also support growth and proliferation of Legionella pneumophila. Disease is contracted by drinking infected water, or from another infected person. The risk of this infection increases with age [...]
How Can You Find a Good Property Deal in Manchester?
I was talking to one of my landlords the other day, when he explained there were no property bargains for him to buy in Manchester. We don’t sell property and don’t charge for our advice, but we can give impartial advice without any conflict of interest to our landlords. Here is what I discovered recently about finding bargains that I had discovered over the last few months. The M23 postcode district lies within or includes part of the following towns, counties, localities, electoral wards and stations: Baguley, Brooklands, Manchester, Northenden, Roundthorn Industrial Estate, Sale Moor Village, Wythenshawe. A 3 [...]
