First-time Buyers, Re-mortgages Lift Mortgage Approvals
Letting rooms versus single unit lets: the pros and cons
Now that both the cost of letting and taxation have increased for landlords, many are taking some time to review their portfolio, to see how these costs can be mitigated. One way to do that is to increase rental income by changing the way the property is let and a lot of landlords are considering a move into the HMO market – that’s letting individual rooms in the property, which is categorised legally as a House in Multiple Occupation. If this is something you are considering, here are some of the pros and cons you should be aware of.
Five mistakes landlords make
Splitting up or getting together – dealing with a tenant’s change in circumstance
When a tenant’s personal circumstances change, it may not occur to them to let their managing agent or landlord know, especially as it may be quite a stressful time. However, it is important for all parties to understand the implications of a change in the number or identity of people living in a rented property. For a landlord, it’s especially important to know exactly who is living in your property so that you can ensure that the let is fully legal and you are covered should anything go wrong.
Is it better to buy and renovate or buy a ‘ready to go’ let?
This is a question often posed by investors and there simply isn’t an easy answer. To a large extent, your decision will depend on your financial position, but it is also likely to be governed by what’s happening in your local market at the time you are looking to buy.
Why property hotspots don’t necessarily matter
One thing that property investors - particularly those looking for their first Buy-to-Let – always want to know is: where is the best place to buy? And for many years now, the term ‘hotspot’ has been used in the media and by companies that offer investment opportunities, to refer to locations where they say good returns are virtually guaranteed.