Do You Need Information on Being a UK Landlord?
- By Jane Van Velsen
- Published February 26, 2010
- General Real Estate
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Rating:
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Jane Van Velsen
Jane van Velsen is an online content writer for websites, ezines, business blogs, article campaigns for clients within the legal, property, financial, women's interest, travel, tourism, marketing sectors. http://www.therightwriter.co.uk http://www.propertypathways.co.uk
View all articles by Jane Van Velsen
Are you a landlord in the United Kingdom? Do you rent out one or more houses in the United Kingdom?
If so, then you will find the FREE ebook being offered by UPad in March's edition of Property Pathways really useful. I've had a peek and it chock a block full of great information on how to be a great landlord and enjoy the profits of renting out homes in the United Kingdom.
It also points out the pitfalls of buy to let as well as the highs, so it's a fair balance of information for any property owner who is thinking of letting their house or for full time landlords with multiple lets.
UPad are also great at finding tenants for landlords who may struggle but, in this market, with such a housing shortage, you shouldn't be in that position.
Being a landlord can be fraught with difficulties such as finding a suitable tenant. Should you let furnished or unfurnished? What are your legal obligations to a tenant? How do you keep a good tenant happy? What added value can you offer a tenant to secure a good one? What terms should be in the lease agreement? How does letting affect your mortgage repayments?
One of the most serious aspects of letting out a house in the United Kingdom is that of insurance. Many landlords are not aware of their liabilities and get a shock when they receive insurance quotes for 3rd party liability. UPad are coming up with some great offers for their landlord database. What's good about them is that they are exclusively negotiated for UPad's landlords and can give you a substantial saving.
As a landlord I'm always looking for ways to keep a good tenant and Upad certainly have some good ideas. One of my biggest bug bears is property maintenance and I'm hoping companies like UPad will be able to assimilate listings by postcode area of decent and trustworthy handymen and service providers. If you have any good ideas or thoughts about what you'd like to see on websites like this, write in to them and let them know. You may be surprised at the response!
I've also discovered that when I rent out my overseas properties I'm often caught out by the insurance in little ways. For example I only recently discovered that whilst my swimming pool in one rental is covered for damage due to storms and subsidence, the surrounding tiling and plant features are not! A bit difficult to handle when I believed I had insured everything under the title of 'pool'! You really need to be a lot more specific on items like that which fall under buildings insurance.
The other thing you really need to get right when renting out property is the issue about who is liable for what exactly? I've had a tenant who claims I'm still liable for the maintenance of the garden and fencing and I've had to ensure that liability for this is spelt out in the tenancy agreement. Another decided that they didn't have to maintain the pool and as a result of this the pool pump ceased and I had to replace it.
On the flip side of the coin is the simple fact that as a landlord you are not obliged to repair everything that the tenant complains about as long as it doesn't impair safety of the tenant. Having said that I think that maintaining your properties ensures you decent tenants to a large extent and certainly keeps your property in decent condition just in case you need to sell it.
I'm subscribing to Property Pathways and I'll definitely ask for the Upad free ebook this March. I never know what I'll learn next!
Jane Van Velsen
Jane van Velsen is an online content writer for websites, ezines, business blogs, article campaigns for clients within the legal, property, financial, women's interest, travel, tourism, marketing sectors. http://www.therightwriter.co.uk http://www.propertypathways.co.uk
View all articles by Jane Van Velsen
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