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OUR LANDLORD & TENANT CHECKLIST FOR WARM AND SAFE RENTALS

 

The weather has turned, and winter is on the way, bringing with it a chilling collection of potential problems at your rental property.

 

In many ways, rental homes are more at risk when they’re occupied in winter because the daily lives and concerns of tenants can sometimes be at odds with the interests of landlords.

 

So this week's blog is all about getting that balance right, with measures like:

 

  • Keeping condensation, mould and damp at bay.
  • Maintaining smoke alarms and carbon monoxide detectors.
  • Combining cost savings on bills with conscious property care.
  • Reducing the risks of water damage and ice.
  • Planning ahead in case your tenants go on holiday.

 

To ensure our landlords don't get caught out by the cold, we check these things at all the homes we manage as part of our scheduled mid-tenancy inspections.

 

However, if you're looking after things yourself, share this blog with your tenants so you can work together for a warm and safe winter all round.

EXPERT OPTIONS IF YOU'RE A LANDLORD FACING HIGHER MORTGAGE COSTS

 

If you’re a landlord with a fixed-rate mortgage nearing the end of its initial term, you’ll only be too aware of the coming increase in your monthly repayments.

 

Back in October 2021 and 2018, two and five-year buy-to-let fixed rates averaged around 3%, but they're now switching to today's rates of more than 6% - a substantial jump!

 

This rate hike has caused many landlords to sell up, and you might be thinking of doing the same. However, before pulling the plug on your investment, there are some options to explore, including:

 

  • Renovating and reletting

 

  • Increasing the rent

 

  • Using falling house prices to expand

 

  • Creative debt reduction

 

  • The consequences of selling up

 

So, if part of your reason for being a landlord is future financial security for you or your family, you'll find plenty in this week's blog to help you make the best decision for you.

OUR GUIDE TO A SWIFT, SMOOTH AND LEGAL SWITCH BETWEEN TENANTS

House shares are a great way of maximising your rental income, and they cover every kind of tenant, from university students to high-earning professionals.

 

Inevitably, a housemate will leave at some point as their life evolves. And whether it's moving in with a partner, relocating for work, or buying a home of their own, you'll need to find a replacement.

 

The changeover doesn't have to be a hassle, but to protect yourself as a landlord and keep the tenancy watertight, there are some dos and don’ts to bear in mind, including:

 

  • Receiving and accepting notice

 

  • The law around replacing one sharer with another

 

  • Finding a replacement housemate

 

  • Updating the tenancy agreement

 

  • The changeover between the outgoing and incoming tenants

 

So whether you’re a landlord in Liverpool or you've got rental homes in other parts of the UK, you’ll find all you need in this week's blog for a smooth, swift and legal switch between sharers.

THE ESSENTIAL CHECKS YOU NEED TO MAKE, AND WHEN TO SAY NO

 

For some landlords, the very mention of guarantors can ring alarm bells. But they're written into more tenancy agreements than you might think, and needing one isn’t necessarily a sign of problems ahead.

 

Even well-paid professionals with a glowing landlord’s recommendation can fall short in the referencing process, so it's wise to have an understanding of what it means to have a tenant with a guarantor.

 

So, in this week's blog, we’re taking a look at:

 

  • The profile of a guarantor
  • A guarantor’s responsibilities
  • Why a tenant might need a guarantor
  • Referencing a guarantor
  • Claiming from a guarantor

 

Once we’re done, and whenever you encounter a tenant who needs a guarantor - either upfront or after you've taken up references - you'll have everything you need to make a confident decision.

TURN A VACANT SPELL INTO A BRIGHTER FUTURE FOR YOUR BUY-TO-LET

 

An empty rental property doesn’t have to be a downer. In fact, having some time between tenancies gives you the chance to optimise your investment's rental yield, sales value, and future popularity.

 

That said, vacant homes do have some extra risks and management that you don't need to think about when your property has a tenant.

 

This means that an empty buy-to-let comes with both opportunity and organisation, plus a varied menu of things to consider, including:

 

  • Spicing up the specification
  • Rooting out repairs
  • Presenting a fresh face
  • Blitzing the admin
  • Protecting your property

 So whether you're making improvements to turn a greater profit, or just keeping things in check until the next tenancy begins, this week's blog is jam-packed with expert tips and tricks.

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