How to make more income from your rental property

Many landlords and property investors are wondering reluctantly if it's now the time to sell their rental property.

What with the increasing tax on rental income since April 2017, the end of the furnished property tax allowance, and recent low rent increases, a property sale is something that property owners are beginning to consider.

However, with current low interest rates on buy-to-let mortgages, this is also a great opportunity to think about whether re-mortgaging will make you considerable savings. 

One of our landlords recently re-mortgaged a buy-to-let property with a 2 year fixed rate, at 1.89% interest rate – saving £356.07 each month (previously £617.37, new mortgage £261.30). This adds up to over £8500 saved in the 2 years!

In addition, if you have any financial reserves to invest in enhancements to your rental property, this should sustain the capital value, and increase the rental value too – assisting with improving your re-mortgage calculations.

To ensure that you receive the best financial advice for your circumstances, it is advisable to use a recommended independent financial advisor. If you’d like to know more, please just ask.

The Letting People Milton Keynes

Please note that The Letting People Franchisee, 2PM Management Ltd, with effect from Thursday 24th May 2018, does not have a licence to operate The Letting People Franchisee Business.

Should you wish further information on the ongoing The Letting People agency services available in the Milton Keynes and surrounding area, please contact:

The Letting People Management Ltd

2 Crossways Business Centre

Bicester Road

Kingswood

Aylesbury

Bucks

HP18 0RA

 

+++ SOLD+++Spacious 2 double-bedroom terraced house on sought after Chase Meadow development

Property Type: Terraced house

Offers over  £225,000 

+++UNDER OFFER++++ Summary: This is a spacious 2 double-bedroom terraced house with kitchen diner leading out to the patio and enclosed garden. The property is located on the peripheral of the much sought after Chase Meadow development, within walking distance of Warwick town centre, local amenities, a nursery and bus routes, it is also situated in the catchment area for a number of good schools. There are excellent transport links to the M40 to London or Birmingham and A46 to Stratford-upon-Avon and Coventry. This would be a great opportunity for a first time buyer, investors or someone looking to downsize.

Key Features:

  • Kitchen dining area
  • 2 double bedrooms
  • Patio and secluded garden
  • Gas central heating
  • 2 Allocated parking spaces
  • Double glazing

Description: A well presented, spacious two bedroom house benefiting from two good size double bedrooms, a spacious living area and large kitchen diner which leads out into the low maintenance garden. The family bathroom has recently had a full, modern refurbishment. There are two allocated parking spaces to the front of the property off a private driveway.

More information is available on Zoopla here: https://www.zoopla.co.uk/for-sale/details/46928272?search_identifier=1c1053147ff845014f8b0dc0c5dcfcd2#ACcALxulZ7PRvPjl.97

Outside front: Two allocated parking spaces directly in front of the property with security light.

Entrance hall: Leading into the living area, with radiator.

Living Area: (4.98m x 4.01m max) Double glazed bay window, 2x radiators, large under stairs storage area. Television and telephone points.

Kitchen/Diner: (4.98m x 2.44m) Double glazed window and double glazed door to rear leading out into the garden. Light coloured kitchen cabinets, recently fitted stylish grey flooring. There is part wall tiling, a stainless steel sink drainer and a gas cooker point, plumbing for washing machine and dishwasher, space for a fridge freezer, Potterton central heating boiler and a radiator.

Outside rear: Low maintenance enclosed garden with patio, borders, security light and rear access. There is a timber shed, the garden backs on to a spinney.

Landing: Loft access to part boarded loft.

Bedroom One: (4.37m max x 4.04m max (x 3.68m)) Two double glazed windows to the front, built in wardrobe, radiator and airing cupboard. Television point.

Bedroom Two: (2.97m x 2.84m) Double glazed window to rear, radiator.

Bathroom: Double glazed window, heated towel rail, recently refurbished to a high standard. Bath with triton electric shower over, hand basin, W.C, extractor fan and shaver point.

Tenure: We understand that the property is Freehold.

Services: We understand that Electricity, Gas, Water mains services are connected to the property.

Council Tax: We understand that the council tax band for this property is C

Energy Performance rating: The Energy Performance rating is C

Viewing: All viewings are strictly by prior appointment with Coverworld Management Services Ltd T/as The Letting People. Please contact our office before your viewing appointment to confirm that the property remains available.

Location: The property is located at: 32 Young Close, Chase Meadow, Warwick, CV34 6PW

Estate Agents Act 1979: Disclosure Notice S21: This property is owned by an employee of CoverworldManagement Services Ltd T/as The Letting People

Important: If there are any important matters which are likely to affect your decision as to whether to view or purchase the property you must contact us to obtain written clarification from us to your satisfaction before viewing the property.

Agent Notes and General Disclaimer:

Whilst Coverworld Management Services Ltd, T/as The Letting People endeavour to make Property Descriptions accurate and reliable, they should not be relied on as statements or representations of fact and do not constitute any part of an offer or contract. In addition, property descriptions are provided only as a general outline in good faith and from information provided to us and no Employee, Partner, Owner or Director of Coverworld Management Services Ltd T/as The Letting People has any authority whatsoever to give or make representation or warranty in relation to the property.

All measurements provided are approximate and for information guidance only and therefore are inaccurate. All prospective Buyers are advised to obtain their own measurements on inspecting the property before committing to any expense. Also, photographs and digital images are provided for general information only and do not imply that any item appearing in a photograph or digital image is included for sale with the property. In addition, furnishings, fittings and equipment are illustrative and may not represent these being present on viewing.

All those fixtures and fittings specifically stated on this property description have been advised by the Vendors to Coverworld Management Services Ltd T/as The Letting People as being included in the sale price. However, prospective Buyers are advised to confirm fixtures and fittings included when making an offer.

 

We would strongly recommend that all the information which Coverworld Management Services Ltd T/as The Letting People provide about the property is verified by you on inspection. Coverworld Management Services Ltd T/as The Letting People have not carried out any survey or tested any apparatus, equipment, fittings, installation or services including heating and so cannot verify they are in working order.

A copy of the Energy Performance Certificate may be viewed, on request, at our offices.

All prospective Buyers will be required to comply with Money Laundering Regulations which will require your submitting identification documentation and may also require proof of the source of funds.

The information displayed is a property advertisement and does not constitute property particulars. Any opinions contained within this property description are not statements of fact and may not represent the opinion of a potential Buyer and do not constitute any part of any offer or contract

Coverworld Management Services Ltd T/ The Letting People has not verified legal title or lease details, service charges and ground rents as may be applicable and therefore Buyers must obtain verification of the legal title and all other details of the property from their conveyance solicitors.

 

Property description preparation date:16/03/2018

Version v1

Garage for Sale in Leamington Spa

 

+++SOLD+++++ A rare opportunity to purchase a town centre freehold garage – great for vehicle parking or for storage of motorbikes, cycles, sports equipment, etc. Approximate size:  16’6” deep x 7’9” wide (127.88 square feet), 5.03m x 2.36m (11.88 square meters) with newly fitted corrugated roof and wooden barn-style doors with two locks.

Key features:

  • Freehold garage
  • Town centre location
  • Quiet road
  • Approximate size:16’6” deep x 7’9” wide (127.88 square feet), 5.03m x 2.36m (11.88 square meters) 
  • Newly fitted corragated roof and barn-style wooden doors with two locks
Guide price : £10,000
 
Available: now
 
 

Viewing: All viewings are strictly by prior appointment with Coverworld Management Services Ltd T/as The Letting People. Please contact our office before your viewing appointment to confirm that the property remains available.

 

Location: The property is located at Gordon Street

 

ImportantIf there are any important matters which are likely to affect your decision as to whether to view or purchase the property you must contact us to obtain written clarification from us to your satisfaction before viewing the property.

Estate Agents Act 1979: Disclosure Notice S21: This property is owned by a director of CoverworldManagement Services Ltd T/as The Letting People 

 

Agent Notes and General Disclaimer:

Whilst Coverworld Management Services Ltd, T/as The Letting People endeavour to make Property Descriptions accurate and reliable, they should not be relied on as statements or representations of fact and do not constitute any part of an offer or contract. In addition, property descriptions are provided only as a general outline in good faith and from information provided to us and no Employee, Partner, Owner or Director of Coverworld Management Services Ltd T/as The Letting People has any authority whatsoever to give or make representation or warranty in relation to the property.

 

All measurements provided are approximate and for information guidance only and therefore are inaccurate. All prospective Buyers are advised to obtain their own measurements on inspecting the property before committing to any expense. Also, photographs and digital images are provided for general information only and do not imply that any item appearing in a photograph or digital image is included for sale with the property. In addition, furnishings, fittings and equipment are illustrative and may not represent these being present on viewing.

 

All those fixtures and fittings specifically stated on this property description have been advised by the Vendors to Coverworld Management Services Ltd T/as The Letting People as being included in the sale price. However, prospective Buyers are advised to confirm fixtures and fittings included when making an offer.

 

We would strongly recommend that all the information which Coverworld Management Services Ltd T/as The Letting People provide about the property is verified by you on inspection. Coverworld Management Services Ltd T/as The Letting People have not carried out any survey or tested any apparatus, equipment, fittings, installation or services including heating and so cannot verify they are in working order. 

 

 

All prospective Buyers will be required to comply with Money Laundering Regulations which will require your submitting identification documentation and may also require proof of the source of funds.

The information displayed is a property advertisement and does not constitute property particularsAnyopinions contained within this property description are not statements of fact and may not represent the opinion of a potential Buyer and do not constitute any part of any offer or contract

 

Coverworld Management Services Ltd T/ The Letting People has not verified legal title or lease details,service charges and ground rents as may be applicable and therefore Buyers must obtain verification of the legal title and all other details of the property from their conveyance solicitors.

 

Property information preparation date 02/03/2018

Version V1

An extended 3 bedroom terraced house in Southam

This extended, spacious 3 double-bedroom terraced house with patio and spacious garden, 2 bathrooms is located in Southam, within walking distance of local shops and good bus routes.

Key Features:

  • Extended kitchen dining area
  • 3 double bedrooms
  • Patio and spacious garden
  • Gas central heating
  • Attic space
  • Double glazing

+++++DRAFT NOTE: The information provided about the property has been submitted to the Vendor but has not been verified by the Vendor and therefore is distributed without any guarantee of accuracy.

Further Details:

Front path beside off-road forecourt parking space beside path leading to entrance door, opening to the hallway with staircase leading to first floor, and door to
Downstairs
• Sitting room to front with modern gas fire in fire-surround and window to front.  Double doors to
• Dining kitchen with ceramic-tiled flooring, having under stairs storage area, dining area, and kitchen with fitted cupboards, and appliances including: gas hob, electric oven and a washing machine.  Patio door to back garden, and door to

  • Downstairs bathroom with bath having electric shower over, WC and washbasin.

Upstairs
• Double bedroom overlooking the front, with door to:  Modern en-suite shower-room with shower cubicle having shower, WC, washbasin and heated towel rail
• Double bedroom overlooking the back garden. Gas boiler.
• Spacious double bedroom with window to back (having pull down ladder access to attic space – with skylight window and radiator.

Outside front

Forecourt with pathway and parking space

Outside rear

Patio and garden with shed

Tenure: We understand that the property is Freehold

Services: We understand that Electricity, Gas, Water mains services are connected to the property

Council Tax: We understand that the council tax band for this property is To be confirmed

Energy Performance rating: The Energy Performance rating is D

Letting Arrangements: The property is currently let on an Assured Shorthold Tenancy to  28/3/2018

Viewing: All viewings are strictly by prior appointment with Coverworld Management Services Ltd T/as The Letting People. Please contact our office before your viewing appointment to confirm that the property remains available.

Location: The property is located at: 55 Abbey Lane Southam, Warwickshire CV47 1HR

More information available on Zoopla here: https://www.zoopla.co.uk/for-sale/details/46632849?pro_preview=1#DiR1ulFQ6wjLrIoP.97

Important: If there are any important matters which are likely to affect your decision as to whether to view or purchase the property you must contact us to obtain written clarification from us to your satisfaction before viewing the property.

Agent Notes and General Disclaimer:

Whilst Coverworld Management Services Ltd, T/as The Letting People endeavour to make Property Descriptions accurate and reliable, they should not be relied on as statements or representations of fact and do not constitute any part of an offer or contract. In addition, property descriptions are provided only as a general outline in good faith and from information provided to us and no Employee, Partner, Owner or Director of Coverworld Management Services Ltd T/as The Letting People has any authority whatsoever to give or make representation or warranty in relation to the property.

All measurements provided are approximate and for information guidance only and therefore are inaccurate. All prospective Buyers are advised to obtain their own measurements on inspecting the property before committing to any expense. Also, photographs and digital images are provided for general information only and do not imply that any item appearing in a photograph or digital image is included for sale with the property. In addition, furnishings, fittings and equipment are illustrative and may not represent these being present on viewing.

All those fixtures and fittings specifically stated on this property description have been advised by the Vendors to Coverworld Management Services Ltd T/as The Letting People as being included in the sale price. However, prospective Buyers are advised to confirm fixtures and fittings included when making an offer.

We would strongly recommend that all the information which Coverworld Management Services Ltd T/as The Letting People provide about the property is verified by you on inspection. Coverworld Management Services Ltd T/as The Letting People have not carried out any survey or tested any apparatus, equipment, fittings, installation or services including heating and so cannot verify they are in working order.

A copy of the Energy Performance Certificate may be viewed, on request, at our offices.

All prospective Buyers will be required to comply with Money Laundering Regulations which will require your submitting identification documentation and may also require proof of the source of funds.

The information displayed is a property advertisement and does not constitute property particulars. Any opinions contained within this property description are not statements of fact and may not represent the opinion of a potential Buyer and do not constitute any part of any offer or contract

Coverworld Management Services Ltd T/ The Letting People has not verified legal title or lease details, service charges and ground rents as may be applicable and therefore Buyers must obtain verification of the legal title and all other details of the property from their conveyance solicitors.

Property description preparation date:02/02/2018

Version v1

How can I increase my rental by £250 per calendar month and have happy tenants!

This is a question we are asked by many landlords in so many different ways!

What with landlords facing increased costs through removal of tax allowances, changes in calculating your tax due on your property investments and the additional stamp duty, now is a good time to think strategically about your rental property and the demand in your local rental market. Many landlords say to us "even a small rental increase would be welcome"

This property in Marton had been let through The Letting People for some years and was in need of some updating work to attract professional tenants for a further 7-10 years.

                                                 

Following a new kitchen, flooring, installation of gas fire and other refurbishment works this property was ready to go. The rental value increased by £250 per calendar month giving a return on the investment in just under 2 years.

Click here to view images of this property both before, and after! https://www.thelettingpeople.co.uk/userFiles/property_refurbishment_marton.pdf

On launching back on to the rental market, the property attracted immediate attention from professional tenants looking for an updated village property that was ready to move into – and was let in 1 day.

A win win for both the Landlord and Tenant!

Landlords and property owners, are you looking to invest in rental property in the leamington Spa, Warwick or Kenilworth Area?

 

Landlords and property owners, are you looking to invest in rental property in the leamington Spa, Warwick or Kenilworth Area?

Sign up here for our regular property news, updates and insights of the local property market from your local letting experts, More income, Less fuss!

                                                 http://l.thelettingpeople.co.uk/Local-property-news-updates-insights

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How to Deal With Letting Your Property to a Friend

How to Deal With Letting Your Property to a Friend (and Avoiding an Awkward Situation)

What would you do if a friend or work colleague, who you've known for ages, is about to rent your property from you?  What referencing checks should be carried out? And how do you go about it?

Letting out your property to a new tenant is tricky enough, but what about renting it to someone you know well? How do you approach a potentially challenging situation and stop it from becoming an awkward one?

Supposing that, with all the best intentions, you’ve agreed your colleague is going to rent your property from you. You’ve know them for a long time, and you think that you trust them. But should you really go ahead with creating a tenancy without a bit more information than this?

Everything probably seems to start out well, but the unexpected sometimes happens … and perhaps your ‘trusted’ tenant can’t pay their rent. Were there any warning signs?

How to Deal With Letting Your Property to a Friend

Here are four simple referencing checks suggestions, to complete before starting the tenancy – and these are highly recommended to check the suitability of your potential tenant…

 

  • Tenant history

    Start by checking their tenant history – have they ever defaulted on their rent? While total security might not ever be achievable, a history of good tenant/landlord relationships can at least give you a good idea of whether the tenancy is going to work out for you.

 

  • Credit checks and outstanding debts

    Would a credit check show any issues and/or are there any outstanding debts that may highlight whether they’ve had any financial troubles in the past that might affect their payments? Trusted or not, it’s unlikely that even a friend is going to want to share something with you that might jeopardise their chances – unless they’re incredibly honest.

 

  • Income and other earnings

    Your colleague’s ability to keep up with rent payments is likely to be dependent on their income from their employer. Find out if your colleague’s employment is based on a fixed term or permanent contract. If it is fixed, when is the end date and will this guarantee a regular income which will support their payments to the end of the tenancy term?

 

  • Independent Referencing

    In order to get some clear perspective, independent referencing can allow for objectivity and add some extra reassurance that your tenant is reliable and trustworthy.  It will usually show if the trust that you think you have in your colleague is clearly supported by others?

 

These four referencing checks are all indicators which can help a landlord to decide whether tenancy is likely to be successful. Hopefully, all of them will be dispel any concerns: good renting history, clear credit history, no debts and a long term or permanent employment contract.

But what happens if a late rent payment was based on something that just couldn’t have been expected or checked? Maybe your tenant becomes ill or is suddenly made redundant. What can you do?

Where an insurance-backed reference is obtained, you may be able to apply for rent guarantee insurance – this will make sure that rent payments are continued, should the unexpected happen.

It’s not about being suspicious or mistrustful. It’s about ensuring the best reassurance for you and your tenancy agreement…. especially where you have a buy-to-let mortgage and/or where high service charges and other bills are concerned!

If you’d like any more information about how independent referencing checks can help you, please just ask!