When a new tenant moves into your property there is a lot to think about-inventory, tenancy agreement, photos, housing benefit forms, etc. If you find that there is a lot of information to take in what do you think your tenants will think? You guessed it – information over-load. That is why at NGU Homelettings we have produced a Tenant Handbook which we give to tenants when they move in. This handbook provides all the information that a tenant will ever need to be able to enjoy living in their property and to make sure that it is handed back in the correct condition or improved.
House prices have recorded their strongest year-on-year growth in nearly three years, as market activity increases, according to the Halifax.
The rise in house prices is in line with figures published last week by Nationwide, which reported that house prices were now 1.1pc higher than they were a year ago, marking the fastest annual increase seen since November 2011.
The number of mortgages on the market has increased sharply since the Government launched a scheme called Funding for Lending last August, which has given lenders access to cheap finance to help borrowers.
If you are a landlord who is not doing repairs at the moment and they are essential I urge you to think again!
If you do not do an annual assessment of your property in a detailed way to confirm there are no health and safety risks, I urge you to stop and think!
2004 Housing Act
In 2004 the Housing Act changed the way the local council can assess the housing condition of a rented property using a risk assessment approach called the Housing Health and Safety Rating System (HHSRS). If your tenant feels that the property they are living in has health and safety hazards, they can call the council to have one of their officers to arrange an inspection.
Below Market Value Property with High Yields and Capital Growth
Start wanting, start having!
Rental yields of between 7-12%
and at prices of between 15-30% below normal market prices are achievable in the North East of England.
Buy Below Market Value Property & Build a Pension Pot for your Future
NGU sources High Yielding Below Market Value properties to Build a Pension Pot for your Future
- Tenant Find
- Full Management
- Armchair service
20%-30% Discounted Properties
We are able to offer investments at Below Market Value levels as a result of our careful site selection and ability to identify key investment areas ahead of time.
Earn up to £3,000 cash up front just by selling your home with a lease option and still achieve 100% market value-and that’s guaranteed
Lease Options are an ideal way for landlords to sell their Buy to Let properties which have negative or little equity. We have a waiting list of over 15 investors who are willing to pay up to £3000.00 cash up front to you to do a lease option on your property.
So what exactly is a Lease Option?
A Lease Option is a contract between you and a buyer which gives the buyer the use of your Buy to Let property from the date of signing the agreement. A buyer will look to rent your property out and look to make money on the rental income and the property increasing in value over the option period. Generally option periods are between 5-20 years. The buyer will have the right to buy your property in the agreed option period at a pre agreed price.
Local Housing Allowance (LHA) – In what situations can it be paid DIRECT to the landlord?
There are many ways that LHA can be paid direct to a landlord, most of which are considered to be ‘Safeguarding’.
Another way is where the landlord reduces the rent to the same level of local housing allowance, applicable to the size of the property. But not all councils will accept this and I predict that within a year a further reduction may be sought if a new application for LHA is submitted.
When interviewing prospective tenants, there are some questions you should ask to help determine if the tenant will be a good fit for your property. These qualifying questions can be asked over the phone. By doing this you can save the time of physically having to show them your property by qualifying a prospective tenant first.
Basic Questions to ask a new tenant
- Why are you moving?
- What is the earliest you could move into your new property?
- What is your monthly income?
- Can you pay the money up front needed for the property?
- How many people will be living in the property?
- Can you provide references?
- Can we do a credit and back ground check on you?
- Have you ever been evicted before?
- Do you have any pets?
Detailed Questions to ask a new tenant that will help to prevent rent arrears and your property getting trashed