Author: Coast to Country Lettings
Starting 6th April, the Landlords Energy Saving Allowance, a tax incentive designed to help landlords’ transition to the new rules implemented under The Energy Act of 2011, will expire. This means landlords will have to hurry to make improvements in order to claim the tax break on their self-assessed income tax. Over the next three years the act specifies new environmental standards landlords must meet in order to let out their properties. This will mean many are required to make improvements in the form of new boilers, added insulation, or new energy efficient windows in order to improve the overall…
As Eastbourne landlords we all know the nightmare scenario; your tenant has decided to redecorate but at whose expense? Invariably it’s at yours, the landlord. Sloppy paint jobs, badly chosen colours, damage to the fixtures and fittings, the removal of interior doors and carpets – these things just aren’t acceptable in a rental property. So should all landlords enforce a hard line on these sorts of DIY decorations or should tenants be given some guidelines on what is ok and what is not ok to do the property? After all, whilst you might be the owner they are the ones…
Last week we came across a very interesting piece of information about buy-to-let tenants – it seems that the demand for buy-to-let property is set to continue with surprising new figures that indicate that as much as half of the current tenants in these properties believe they will always rent. Contrast this to the mentality of the past where rentals were a stopgap on the way to home ownership and it’s clear that the public perception of how best to secure the place called home has changed considerably over the last decade. The info came from a recent investigation by…
You might assume that there were many different priorities people have when looking for a new rental; things like location or space, whether the property has a garden, who the neighbours are, how close to shops and services it is or how close to public transport, that was at least until a recent poll showed us some very interesting results. It seems that what tenants care about most when renting property is not any of the aforementioned. It is instead affordability, and this wins out over every other concern and factor. An astonishing two-thirds of respondents in the Knight Frank…
The increase in the cost of rent across Great Britain has eased up it was reported in August this year. Every area saw lower rent increases than in previous quarters according to a recent report. On average monthly rents in the UK stand at £921 a month. Compare this with last year’s average of £851 which was put together by Homelet Rental index who are the country’s biggest monthly supplier of data on monthly tenants. In London things also reflected this trend with the average monthly rent for private tenants set at £1,464, whereas in the rest of the country…
There is growing pressure aimed at landlords to improve energy efficiency in rental homes. Seven out of 10 UK householders agree that landlords should be forbidden from renting out homes which have low levels of heat – effectively energy inefficient homes. This is according to a recent report by the Energy Saving Trust’s latest Pulse survey that is used to track public opinion. What does this mean for Eastbourne landlords? These figures were even higher amongst renters. The Ipsos Mori survey found that of 2000 renters who responded at least 8 out of 10 agreed. Whilst there is no new…
New research reports that the phenomena of ‘ghost tenants’ is on the rise. Whilst you might be excused for thinking this blog post is part of a ‘Halloween special’ you’d be wrong. In this instance the term ‘ghost tenant’ refers to unlisted tenants who reside in buy-to-let properties and HMOs, and according to the research there are over 3 million unlisted tenants residing in the 4.5 million properties of this sort. Many legal tenants either fail to realise or choose not to list other adults living under their roof and this can end up causing major repercussions when discovered. The…
As reported in The Telegraph back in June the Queen’s Speech is set to include important legislation that affects all landlords. Due to a crackdown on criminal gangs misusing properties this tightening up of legislation means we must all remain more diligent than ever before in making sure our tenants are not participating in criminal activity on our property. Whilst landlords are always committed to ensuring they rent to responsible and law abiding tenants, this new legislation will mean serious consequences for those who take no action. The owners of the residential properties (landlords) can now be prosecuted for ‘participation…
A recent report has confirmed that virtually all Eastbourne landlords have agreed that tenant demand has never been stronger – in fact it’s growing. The figures show that landlords have announced a 6.2% yield on their portfolio which is a slight increase during this second quarter of the year from the previous quarter where the average yield was around 6.1%. What’s significant for landlords is this figure has remained steadily consistent over the last 12 months showing that the demand for tenants has remained consistent – something all landlords should be pleased with. In this same quarter of the year…
A common complaint among both homeowners and tenants alike is the unsightly (and potentially dangerous) growth of mould. Common no matter the season, it’s to be expected in a country with as much annual rainfall as Britain, but armed with a little knowledge and a few simple techniques you can ensure your property or rental property is mould-free. Mould: How it occurs Mould spores are released as a result of mould growth and, though invisible, they are always in the air, acting at best as an annoying allergen, at worst as a potentially large mould growth problem in your home. …