They’re Young, Ambitious and Becoming Landlords: The Changing Face of BTL

First-time buyers might be getting older, but when it comes to landlords, it’s a different story.

A new survey* has found that in the past nine years, there’s been a drop in the average age of landlords in the UK.

Back in 2014, the average age for a landlord purchasing a rental with a buy-to-let mortgage was 46.4.

By 2023, that figure was down to 42.9.

Age breakdown

Young adults are often presented as economic lightweights who fritter their cash away on avocado toast and … Continue Reading…

Why Many Landlords Are Holding Firm – Despite the Doom-Mongers

Are landlords leaving the market in droves, as some experts claim? Or are reports of an exodus exaggerated? Let’s look beyond the hype to find out what’s going on.

You may have seen a flurry of headlines lately saying that landlords are leaving the rental sector en masse.

Is it true? Well, data released last month shows that some landlords are indeed selling up.

The number of outstanding buy-to-let (BTL) mortgages fell from 2.039 million in the first quarter of 2023 to 1.98 … Continue Reading…

What’s Happening in the Rental Market? Latest Statistics Revealed

Is the rental market running hot or cold, and what can we expect in the coming year?

Let’s dig into the latest data from the Office of National Statistics (ONS) and property portal Zoopla to find out.

Taking stock

Unless you spent 2023 hiding under a rock, you’ll know that rents rose last year.

A combination of higher interest rates, which put pressure on buy-to-let (BTL) mortgages, and high inflation saw rents increase. The real question is, by just how much?

The latest ONS data … Continue Reading…

How to Reduce the Risk of Fire at Your Rental

Did you know that a blaze is seven times more likely to start in a rental property than in a home occupied by the owner?*

It’s a shocking statistic that underlines the need for landlords to prioritise fire safety.

So, let’s look at how to keep your tenants and property safe.

Follow the law

Landlords must follow strict rules on issues such as smoke and carbon monoxide alarms, gas and electrical safety checks and the provision of unobstructed escape routes.

We won’t go into too … Continue Reading…

10 Ways a Great Letting Agent Helps Landlords and Tenants

A good letting agent can make a world of difference for both landlords and tenants.

Here are ten things a top-notch letting agent does to provide outstanding service:

Tenant Vetting and Screening

A reliable letting agent conducts tenant screening (often called referencing) to ensure potential tenants are compatible with the financial obligations and responsibilities of the tenancy. Doing so reduces the risk of payment issues and helps support a harmonious tenancy for both tenant and landlord.

Property Marketing

Savvy marketing is crucial for … Continue Reading…

Buying Your Rental from Your Landlord

If you feel totally at home in your rental property, you may daydream about buying it from your landlord.

So, what issues come into play when you want to buy the property that you’re renting? Let’s take a look.

Be realistic

While it’s not unheard of for a tenant to buy their rental, it is uncommon.

One reason for this is timing: the tenant needs to be in a financial position to buy the property at the same point as the landlord is looking … Continue Reading…

Common Rental Terms Every Renter Needs to Know

Lettings terminology can be confusing, especially if you’re new to renting.

So, here’s a jargon-busting list of commonly used rental terms to help you navigate the lettings market*.

Agent

An agent is a person who acts on behalf of the property owner (i.e. the landlord). Agents can be involved in letting activities such as finding tenants, tenant referencing and the day-to-day management of the property.

Arrears

If a tenant fails to pay some or all of their rent when it’s due (as specified in the … Continue Reading…

Material Information: What Wellingborough, Irthlingborough & Rushden Sellers Need to Know

Before you list your home, be prepared for your estate agent to go on a fact-finding mission.

They’ll ask you lots of questions about your property because they’re following industry best practice by compiling what’s known as ‘material information’.

This is defined as “information which the average consumer needs, according to the context, to make an informed transactional decision”.*

In other words, material information saves everyone time by letting buyers know as much as possible about a property from the outset.

It helps prevent … Continue Reading…

Eight Things to Consider if a Tenant Abandons Your Rental

Property abandonment is a rare but complex issue that, if mishandled, can get a landlord in legal trouble.

So, let’s look at the key things to consider if a tenant abandons your rental without notice.

What is abandonment?

When a tenant leaves a rental before the end of their contract (usually without notifying the landlord), it’s called abandonment.

If a landlord suspects their tenant has ‘done a runner’, then it’s important that they follow these tips.

Talk to an expert

If you think you’re dealing with tenancy … Continue Reading…

The Future of Lettings? AI’s Role in the Rental Market

Artificial intelligence (AI) is making tsunami-like waves across various industries, and the UK rental sector is no exception.

For landlords, understanding how AI might shape the future of property management is important for maximising their investment and protecting their assets.

Here’s a glimpse into the potential changes AI could bring while also highlighting the importance of letting agents in handling the human aspects of renting out your property.

Smarter property management

AI can revolutionise property management by automating routine tasks. Smart maintenance systems powered … Continue Reading…