Insights - Guaranteed rent
Landlords Encouraged to Seek Alternatives to High Rent Advance Demands
According to a Radio 5 podcast, increasing numbers of landlords are asking tenants with a poor credit score or lack of renting history to part with six months’ rent in advance. The situation has been made worse by the effects of the COVID-19 pandemic, with incomes hit hard. But the NRLA advises against demanding such high advances, suggesting that an alternative guaranteed rent solution is sought.
Read MoreEssential Landlord Tips for Buying Investment Property at Auction
There are often many bargains to be had at property auctions, especially for the buy-to-let investor. But there are many things to consider, and indeed beware of too. If you are considering purchasing your next investment property at auction, we have some tips for you to help you avoid the risks, and make the most of the opportunity ahead.
Are Rent Guarantee Schemes Worth it?
With so much pressure on landlords in the wake of the COVID-19 pandemic, not least the evictions ban and, more recently, the breathing space rule, it is no wonder so many buy-to-let investors are starting to look into the benefits of guaranteed rent schemes. Here we explore the reasons for the mounting interest and ask, are rent guarantee schemes worth it?
How Much Can a Landlord Increase Rent?
As a landlord, there may be times when you would like to increase the rent that you charge your tenants. There is nothing to stop you doing this, but you must follow the correct procedure that is set out by law. Here we delve into the subject of rent increases, asking, is there a limit to how much a UK landlord can raise rent?
Survey Reveals the Current Mood of the Private Rented Sector
A recent survey of over 14,000 landlords, tenants and letting agents, conducted by deposit protection service mydeposits and deposit replacement membership Ome, has revealed some interesting insights into the current mood of the private rented sector.
What is a Property Manager and how do they Support Landlords?
Thinking of starting a property rental business and wondering whether to employ the services of a property manager? Read on to learn precisely what’s involved in a property manager’s role, and how using a property management company could benefit you as a landlord in numerous ways.
End of Furlough Warning for Landlords – Time to Guarantee Rent?
A leading lettings industry figure has warned landlords that, as the government’s furlough scheme is set to draw to a close in just a few weeks’ time, considering some form of rent guarantee insurance should feature as a priority if they want to plan ahead and avoid financial voids where tenants suddenly become unable to cover their rental payments.
In What Circumstances can a Landlord Change the Locks?
When tenants fall into rent arrears or cause damage to a property, it can be tempting for landlords to change the locks to keep them out. However, taking such steps could prove to be a serious mistake, making it all the more difficult to gain the permissions necessary to legally evict a tenant and landing you in trouble with the law. Can a landlord change the locks? Let’s explore the subject in detail.
Can a Tenant Run a Business from a Rental Property?
With so many people now working from home due to the COVID-19 pandemic, this does of course raise the question for landlords as to whether tenants should be allowed to start running a business from a rented property. Let’s take a look at what the law says, and the important considerations every landlord needs to make when considering allowing tenants to use their home as a place of business.
Breathing Space: Debt Respite Scheme to Prevent Landlords From Chasing Unpaid Rent
From 4th of May 2021, a new government scheme will come into force that will give anyone with a problem debt a legal right to protection from creditors. This includes tenants who are in rent arrears with a debt owed to their landlords. The ‘Breathing Space’ arrangement, otherwise known as the Debt Respite Scheme, will allow debtors time to find a solution to their financial issues.