July’s countrywide lettings index shows that rental growth slowed across every region of the country. London recorded the first annual drop in rents for six years, falling by 0.5 % over the past 12 months. . Rents in London 0.5% lower than in July 2015 . Stock surge sees the number of homes available to … Read more
General ‘wear and tear’ is a fact of life when you are letting out properties. Things can sometimes become a little blurry when it comes to knowing what should be covered by you as a landlord, and what are the tenant’s responsibilities.
What’s more, the right approach can also minimise issues, allowing you to enjoy your free time without worrying about your rental investment.
According to Countrywide’s Monthly Lettings Index for May, the average cost of renting a one-bedroom home in Great Britain accounts for 48% of the post-tax income of an average young full-time worker. This compares to 45% in 2007. Rents have increased 27% since 2007 outpacing a 16% growth in incomes.
With the new Right to Rent Scheme launched on 1st February 2016, Landlords are now required by law to check any potential immigration status before granting a tenancy. Failure to do so can result in fines of up to £3000.