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A budget-conscious mindset is sensible for any business, and self-managing your rental homes can feel like a straightforward way to boost your bottom line. But do you have the full picture?
Like you, we watch our outgoings, but we know that the many thousands we spend each year on photos, property portals and industry software make us far more effective (and our lives easier).
It's a rare thing for a landlord to leave us to self-manage. In fact, it's usually the other way around, when DIY landlords either run into trouble or become overwhelmed with changing legislation.
Nonetheless, if you’re weighing up whether to be a self-managing landlord, you've come to exactly the right place to find some clarity. We'll be covering:
- The myth of ‘let and forget’.
- Three good reasons to manage your own rental homes.
- Probable perils and pitfalls.
- Tips for successful self-management.
- What difference do agents actually make?
Given that cost-cutting always has implications beyond initial savings, let's explore what it means to be a self-managing landlord so you can decide whether it's right for you.
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More landlords than ever set up a limited company in 2024, with more than 46,000 new registrations between January and September of companies created to hold rental homes.
If nothing else, the numbers show just how popular buy-to-let remains as a reliable strategy for building long-term wealth and financial freedom.
Still, the landscape for landlords has shifted a lot over recent years, and extensive rental reforms require an updated approach to manage your investments effectively and profitably.
If lower taxation, better personal asset protection, a multi-property portfolio and easier inheritance planning sound good to you, using a limited company to own your rental homes could be a smart move.
So, in this guide, we’ll explore the ins and outs of establishing and running a limited company for your buy-to-let business, including:
- The benefits of limited company ownership
- Setting up a limited company
- Buying properties through a limited company
- Buy-to-let mortgages for limited companies
- Managing a limited company’s finance
Before taking the plunge, it’s essential to know if a limited company structure aligns with your personal goals, so let’s take a look at whether it’s right for you.
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No inventory, no claim. That's about the long and the short of it if you end up in dispute with your tenant and want to make a deduction from their security deposit.
Much more than just a list of items, an inventory is your only legal safeguard in claiming for damages. The law favours evidence, and an inventory is the winning proof.
Nonetheless, we meet too many landlords with either no inventory at all (or one that's far too vague), so we've created an essential guide to getting them right, including:
- Why inventories are so important.
- A watertight inventory blueprint.
- Using photos and videos for the ultimate proof.
- Reviewing inventories with mid-tenancy check-ups.
- Happy tenancy endings.
There's plenty to unpack, so let's explore what makes inventories so essential, and how to prepare one that's sufficiently strong to cover all bases and protect your investment.
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Using an agent to manage your rental property should leave you full of confidence and free of stress, with reliable long-term tenants, full legal compliance, and efficient maintenance and repairs.
Unfortunately, that's not every landlord's experience, and not all agents live up to their hype. A poor one can cause a string of headaches but knowing whether or when to switch isn't always clear.
With that in mind, we’ve put together these five clear signs (all with specific examples) that it might be time to move on from your managing agent:
- Poor communication.
- High tenant turnover and vacancy rates
- Disorganised maintenance and repairs.
- Lack of legal compliance.
- Unclear or unexpected fees.
There really is no need to accept anything less than excellence from your managing agent, whatever the size of your property or portfolio. Let's explore whether it's time for a change.
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As The Renters' Rights Bill sets out to reshape the private rental sector, sweeping changes are on the horizon for landlords and tenants.
The government is pushing to pass the Bill by summer 2025, so if you’re a current or budding landlord, it's essential to understand how the new rules will impact your business, so you can plan ahead.
At 226 pages, the white paper is a complex read, so we've distilled the new bill and broken it down into five key areas:
- Changes to tenancy terms and regaining possession
- Limits on rent increases and bidding wars
- New housing standards and safety laws
- Strengthened tenant rights and protections
- Revised rules and fines for landlords
The new government is serious about introducing rental reform “without dither and delay,” in the words of Deputy PM Angela Rayner, so now’s the time to see what the Renters’ Rights Bill means for you.
Why sell or let with us?
Here are some of the reasons why you should choose Homelets to sell or let your property:
- Dedicated Local Experts
- 24/7 Contact
- No Commission
- No Sale No Fee
- Accompanied Viewings
- No Let No Fee
Submit a valuation opposite or call us on 0151 280 4047.
