Letting Agent Talk
3 reasons UK tenants ask for deposit-free renting
As a UK lettings agent, you’re no doubt already aware of the growing trend for deposit free renting, where the traditional cash deposit is swapped for a membership fee or insurance. You’re probably also aware that these schemes offer landlords more protection than a standard cash deposit in return. Landlords have been quick to grasp…
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Buy-to-let maintenance is costing UK landlords 28% of their annual rental income – here’s where to buy to beat it
Leading lettings management Howsy has looked at what proportion of annual rental income is required to maintain the average buy-to-let property and how this differs across the UK. The research has found that: – The cost of maintaining the average buy-to-let investment across the UK currently sits at £2,313, accounting for 28% of the…
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Rental deposits held by agents equal to 15% of all annual real estate investment
The latest research by rental deposit replacement scheme, Ome, has looked at the total sum used as rental deposits and how this compares to the levels of investment pumped into the economy, both at the top line and in various sectors. Ome’s research shows that last year just over £5.2bn was held in rental deposits…
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What’s causing landlords and tenants to fall out of love in your region? Rental dispute reasons revealed
The latest data by rental deposit replacement scheme, Ome, has revealed which areas of the UK have seen the biggest uplift in deposit disputes, as well as the areas with the highest number of total disputes raised. Research shows that London is home to the highest proportion of rental disagreements between landlords and tenants when…
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Tenancy deposit email scam duping tenants out of thousands
It’s been revealed that fraudsters are targeting vulnerable tenants during the deposit payment stage of the letting process, with the Islington Gazette reporting one couple were conned out of £1,385. Full article here. Jessica Redman and her partner found a rental property via a local letting agent and were then contacted via email by a ‘member…
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Are rogue landlords sitting on £1.2 billion in unaccounted tenancy deposits?
The latest research by Hamilton Fraser’s deposit replacement provider, Ome, has revealed the huge sums of tenant money that is estimated as being held by landlords and agents without protection via a deposit protection scheme. Ome’s sister company, mydeposits, manages 25% of the total deposit protection market and their latest records show they currently protect…
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Give your landlords a dedicated client account and automate your rent collection process through LettsPay.
This is a difficult time for letting agents with multi-pronged challenges from ever growing regulatory changes, the tenant letting fee ban, online competition and a fluid housing market. Business revolves around a solid supply of landlords yet evidence has been found that a growing number are leaving the market. The issues causing dissatisfaction and disillusionment…
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UK holiday let mortgages: a guide
Due to Brexit and the Government’s ever-changing legislation on buy to let properties which is eating in to landlords’ profits, investment in holiday lets is rising. So, what do you need to know if you want to be part of this potentially lucrative trend? What mortgage do you need for a UK holiday let? Mortgages…
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The different types of landlord insurance for flats
If you are a landlord, you are almost certain to know about the importance of buy to let insurance – which protects both the property itself and the business you are running from it. You might, however, face some confusion about the nature of landlord insurance for flats that you require. It all depends on…
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Hottest UK cities for rental demand revealed
The latest research by rental management platform, Howsy, has looked at where across the UK is kicking off a new decade with the highest tenant demand for buy-to-let homes. Howsy looked at rental listings across the major online portals and analysed demand across 23 major UK cities as well as each borough of London, based…
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Poor communication is the biggest cause of deposit disputes between landlords and tenants.
The latest research from Hamilton Fraser’s deposit alternative scheme Ome, shows that poor or no communication when withholding a deposit is still the most common cause for deposit disputes between landlords and tenants, ahead of the cleanliness of the property and damage sustained during a tenancy. Check out the full blog here. The research from Ome…
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Borrowing a rental deposit can add thousands to tenant costs
Research by Hamilton Fraser’s deposit alternative scheme Ome, has looked at the real cost of a tenancy deposit for those that have to borrow the money in order to overcome the initial financial hurdle of renting. For many, the average tenant deposit cost of £1,299 is manageable but the issue is the requirement to pay…
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Borrowing a rental deposit can add thousands to tenant costs
Research by Hamilton Fraser’s deposit alternative scheme Ome, has looked at the real cost of a tenancy deposit for those that have to borrow the money in order to overcome the initial financial hurdle of renting. For many, the average tenant deposit cost of £1,299 is manageable but the issue is the requirement to pay…
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The biggest rent price shifts since last Christmas
Leading lettings management platform, Howsy, has looked at where across the nation makes the rental naughty and nice lists since last Christmas, based on the growth in rental costs over the last 12 months. Using data from the ONS, Howsy has highlighted the top 15 locations to have seen the biggest increases and decreases in…
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Preparing Your Block of Flats for Renting
Investing in and renting out property is a huge business in the UK, but if you’re thinking of giving it a try, you may find that it’s not as easy as it sounds to manage an entire block of flats. We’ve compiled a great list of things that must be done to ensure that you…
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