We all know the bad news about Renting a villa or booking a room, some people made a fortune out of it using Rental websites, while others ended up with overpriced properties, fetching rents far below the hoped-for rate. Now there comes news that, from April next year, the Government is going to cap the amount it pays to housing-benefit recipients, of whom 1.4 million rent property in the private sector.
This means many landlords are going to be faced with a choice of either lowering the rent for these benefit-receiving tenants, or else kicking them out and trying to find new, more prosperous ones. The third option, of course, is to sell up.
But there are ways to make sure your next letting experience is more hospitable than horrible. Here are This is Money’s top ten Useful tips for Rental website’s :
Do your research
Spend plenty of time investigating the Property area. The advantage of Rental websites enting is that you can move when your tenancy is up, but don’t think too short-term – make sure this is the area you want to live in. If you have children make sure you look into the local schools and not just the nearest one using Rental websites
Use the whole rental market
Don’t just walk into the High Street estate agents. Large firms can have a wide range of property in Rental website’s which check out property management agencies and private landlords too and make sure you are not paying over the odds.
A good place to search for independent agents online is listing websites. Rental website’s covers the thousands of properties to rent.
Spread the net
Your Rental website’s doesn’t have to be in the town where you live. It is more important to identify an area where there is demand for the kind of property you can afford to buy, and where the kind of rent you can charge will make the project financially viable. If you are going to employ a letting agent to do the day-to-day running of the property (collecting rent, organising repairs, see Be Businesslike, below), it doesn’t matter if you live one mile away or 100 miles away.
Being a landlord is a job, not a hobby, and it may well be worth your while to employ a lettings agent to do the day-to-day running. They will charge about 10 to 12 per cent. “It’s easy for someone going into buy-to-let for the first time to get things wrong,” says Ian Potter, operations manager at the Association of Residential Letting Agents.
Take your time viewing properties
Looking around rental properties can be a bit of a whistlestop tour but if you find somewhere you like don’t just give it a ten minute once over. Check everything carefully. Does it have central heating, a washing machine, dishwasher, decent fridge and freezer? What are the showers like? Are the windows in good condition? These can all be forgotten in the heat of the moment. Make a checklist to take with you when viewing properties you really like.
Ask the agent about their fees
Before you make an offer in Rental website, quiz the agent about fees for references and credit checks. Sadly ramping up fees is a sharp practice that started in the cut-throat lettings market in certain areas of London, spread outwards to encompass most of the capital and has now gained a foothald in other major cities in the UK.
Be aware of benefit cuts
As from April, the maximum weekly housing benefit the State will pay is £250 for a one-bedroom property, £290 for a two-bed, £340 for a three-bed and £400 for a four-bed. “That’s bad news for landlords in areas where higher rents can be commanded,” says property expert David Lawrenson of www.lettingfocus.com the author of Successful Property Letting. “What’s going to happen is that those tenants on benefits will end up in cheaper, adjoining areas such as Southwark and Lewisham instead of Westminster and Kensington.”