News from our blog
An alliance of 25 major charities have written to Prime Minister Boris Johnson and Chancellor Rishi Sunak, calling for urgent action to tackle the energy bill crisis, including boosting insulation funding.
The charities – which include Save the Children, Age-UK, End Fuel Poverty Coalition, WWF, Green Alliance, Faith for the Climate, Tearfund and Greenpeace – are calling for emergency funding to support the most vulnerable and for insulation and clean energy funding to be increased to help wean the UK off expensive gas.
Without urgent government action, the charities claim that the energy price cap could be increased by £600 in April, driven by the surging price of gas on the international markets, taking an average energy bill to around £2000. CLICK IMAGE TO READ MORE
Keeping aware…Every landlord has lost sleep worrying about what goes on in their rental property when they’re not around. There’s always a flicker of fear that a tenant – no matter how trustworthy they seem – might turn out to be a nightmare and cause damage to the...
Buying a home with the intention of letting it out is a completely different beast to buying one to live in. It will require careful consideration to ensure you get the best rental income and a good investment property. At Carrick Johnson we specialise in letting, not house sales, so we are in the position of offering you unbiased advise prior to your property search..
If you choose well, you’re going to benefit from short and long-term gain. In the short term, you’ll be receiving rental income each month from your tenant. Once you’ve covered your outgoings, the rest is yours to invest, save or spend. And in the long term, you’ll benefit from the capital gain that your property generates. Click image to read more…
Investing in rental properties has long been one of the most popular sources of passive income and there are steps you should take to ensure the process runs smoothly…
The tenant eviction ban ended on the 31st May2021 and the notice period that a landlord needs to provide has now been reduced from 6 months to 4 months. However, this doesn’t mean that tenants may now face sudden eviction. Tenants can still legally fight against eviction and there is a 14 day notice period before the final point where bailiffs are involved.
If you’re a landlord who doesn’t carefully follow the right procedure then you could find yourself committing a criminal offence. You will need to tread carefully.
With more people working from home or even running a business from home, it makes sense that landlords know how this will impact on them and their property. Click image to read more…
Christmas and the rest of the holiday season is a magical time, with homes transforming into winter wonderlands and neighbourhoods lighting up with decorations. With so much excitement and wonder, you may not be thinking about the hazards lurking around the holidays? Help your family and your home stay safe and cheerful this holiday season by paying attention to the advice on our news page.. click image to read more
A good, comprehensive landlord insurance policy will not only cover your building in the event it’s damaged by flood or fire, but can also cover:
The contents you supply for a tenancy, including furnishings and white goods
Items, fixtures, or fittings that are accidentally damaged
Your rent losses should your tenant default on their payments
Another aspect of insurance you may wish to consider is landlord liability insurance.
But what is it and why do you need it? Click image to read more..
There have been many changes to the lettings market over recent years which have seen landlords question whether or not to stick with buy-to-let. But the latest property research brings some welcome news.
The first six months of the year have been the busiest since 2000. In May 2021, house price growth was 4.7% year on year – more than double the rate in 2020*. Property prices are still growing at the fastest rate since 2007*, proving that bricks and mortar remain a resilient investment opportunity.
Rental values across the UK now average over £1,000 (excluding London). This is fantastic news for landlords.
Tenant demand continues to rise
Demand for rental property continues to rise and outstrip supply. This low supply, high demand dynamic has helped to push up rental values. Enquiries to agents for rental property are up 10% compared to June 2020**, which means there is no shortage of tenant availability. In fact, the average number of new prospective tenants registering shows no sign of slowing down.
Buying a home with the intention of letting it out is a completely different beast to buying one to live in. It will require careful consideration to ensure you get the best rental income and a good investment property.
If you choose well, you’re going to benefit from short and long-term gain. In the short term, you’ll be receiving rental income each month from your tenant. Once you’ve covered your outgoings, the rest is yours to invest, save or spend. And in the long term, you’ll benefit from the capital gain that your property generates.
When assessing your next property investment deal, you’ll want to look out for some key things. We’re here to tell you specifically what to look for and why it’s so important. Click image to read more..
1. Get your lender’s permission
Speak to your mortgage lender and see where they stand on your property becoming a buy-to-let.
If you’re planning to rent out your home for a fixed period, you may be able to stay on your current mortgage deal.
But if your home is going to become a more permanent buy-to-let property, you may have to take out a buy-to-let mortgage.
2.CHOOSE A LETTING AGENCY
Using a letting agent’s full management service is the best way to ensure your property remains compliant and you get the best possible tenants in place.
Under a full management agreement, your agent should:
Ensure all compliance requirements are taken care of, including annual gas and electrical safety checks
Market your property to potential tenants, including through the online portals
Accompany potential tenants on viewings
Provide a full tenant referencing service
Undertake Right to Rent checks
Provide a tenancy agreement and other documentation
Arrange an inventory at the start and end of each tenancy
Collect monthly rent
Protect all tenant deposits
Manage ongoing maintenance and repairs
Inspect the property regularly
Chase tenant arrears and issue notices for possession
Deal with tenancy renewals and perform an annual rent review
If you decide to manage your rental property yourself, you would be responsible for all compliance and tenancy demands. Click image to read the rest of our comprehensive guide to renting your property..