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And this is what you think – the best tenants are…

Students Best Tenants (2)

The Definitive Guide…to Tenants

In first place!

1.Students

Because they are studying, they want no trouble with the landlord and so tend to pay the rent without question . Because they are young they are polite with a landlord, who they see as a figure of authority. Because they are usually financially dependent on family, parents are usually willing to act as guarantors, and are equally keen that the student should study hard.  Because they tend to be intelligent, when problems at a property do arise students are clear and concise and usually reasonable when asking the landlord to remedy the issue. Sometimes parents become involved with regard to an issue, especially where they are guarantors, and this usually facilitates matters, rather than causes conflict.

2. Elderly people

They rarely default on rent, tending to be what we might call ‘old school’ in this regard . They are nearly always polite and reasonable in their requests. They often have children, who will call if there is a problem. They tend to be quiet, and so cause no problems, especially important if the rental property is a flat . If they like your property they are unlikely to leave it, since the call of a career requiring them to move to another location is not an issue

3. Single parents

Even where rent is subsidised through Housing Benefits, this tenant usually likes to be settled, wants to keep a property clean and tidy for their children’s sake, and is reasonable in requests for repairs to be done or other issues resolved.

4. Professional couples

Often good tenants, but career demands often mean they they have to move to another location. For some reason, they tend, but only in my experience, to call the landlord over certain matters they could easily resolve themselves with a little initiative, even where the landlord has no objection to paying to sort out the problem. Sometimes this leads to the relationship breaking down and so the tenancy ends!

So you rent out property? Have you really thought about helping those who don’t have a place to live?

There is a very strong belief that the private-rented sector has a crucial role to play in tackling homelessness and work closely with homelessness organisations such as Shelter and Crisis.

Whilst there are some landlords who offer temporary accommodation, it does not form a major part of the private-rented sector. The NLA believes that government should utilise the private-rented sector as a source of long-term housing solutions for the homeless rather than short-term stop-gaps.

They have in place really proactive policies that that not only keep tenants in their properties but also safeguard landlords’ business interests. Anecdotal evidence suggests that homeless people are less likely to be aware of how the housing market works, where to get advice and also have less developed life skills for sustaining a tenancy.  Landlords need support and encouragement for them to engage with this sub-market and be helpful in being part of the supply of good-quality, affordable accommodation for homeless people.

– See more at: http://www.landlords.org.uk/news-campaigns/campaigns/homelessness#sthash.lU3Aypr5.dpuf

TOP LINE FIGURES – TN1 House and Flat Prices

HOUSES SOLD IN TN1 Number of bedrooms Average Price
  1 £250,000
  2 £284,878
  3
456,694
  4
629,500
  5 1,880,000
HOUSES RENTED OUT IN TN1 Number of bedrooms Average Price
  1 420
  2 998
  3 1,277
  4
2,238
  5
1,895
FLATS SOLD IN TN1 Number of bedrooms Average Price
  1
149,937
  2 243,105
  3 714,762
FLATS RENTED IN TN1 Number of bedrooms Average Price
1 678
2 1,001
3 1,814

Landlord Responsibly – don’t rent and ruin!

Medway landlord fined £20,000 for damp flat

Thursday 20th November 2014

Two Kent landlords have been fined £20,000 for leaving a flat so severely riddled with damp it posed a risk to tenants’ health. Property owners Rattan Singh and Balbir Kaur of Chatham, left tenants living in damp conditions and without heating for more than two years.

Two of their properties in the same road in a town in Kent were without heating. Both properties were also lacking vital fire safety alarms.

Medway Council’s private sector housing team first raised informal concerns with the owners in December 2011, and requested improvements be made swiftly. Despite follow up visits from the council’s “Rogue Landlord Unit”, Singh and Kaur failed to make the necessary improvements and were consequently issued with a formal legal notice in December 2013.

They made no attempt to carry out the work and appeared at Maidstone Magistrates’ Court on 6 November where they pleaded guilty to 19 offences including failing to comply with notices under the Housing Act 2004. They were fined £20,000 and must pay £600 costs as well as a £150 victim surcharge.

The prosecution by the council’s private sector housing team was undertaken following a successful bid for government funding to specifically tackle rogue landlords. This was the first case for the authority’s Rogue Landlord Unit which is investigating a number of other cases.

Landlords must remember that the properties they are renting out must be safe and free of risks to the health of their tenants. The council will not accept tenants being placed in danger through the deliberate actions of their landlords or agents.

At Bright Fox, we will always work with Landlords and support them in running their businesses so that their homes and tenants are properly looked after. This case shows that those who don’t comply or do not will be followed up and if necessary, prosecuted.

Buy to Let figures – Fields of Yields

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  • Collective value of buy-to-let homes has soared 13.3% in the last year
  • Landlord boom expected next year with pension freedom reforms
  • Yields have started to slip as house prices have soared in last 12 months
  • There are now 627 BTL mortgages available compared to 142 in 2010

The collective value of property owned by landlords is set to smash through the £1trillion barrier next year after a boom in both buy-to-let borrowers and house prices in the last 12 months, a report suggests.  In the last year alone, the total value of buy-to-let homes has risen by £109.5billion – or 13.3 per cent. London accounts for 41 per cent of the total value, the research from Kent Reliance shows. Next year could be a key one for the buy-to-let market. Some experts predict a rush of novice landlords due to pension freedom reforms, which will allow over-55s to access their pension pot in one go and invest it as they please.

Buy To Let – SET TO SMASH 1 TRILLION BARRIER

Some very interesting facts…

  • The collective value of buy-to-let homes has soared 13.3% in the last year
  • A Landlord boom expected next year with pension freedom reforms
  • Yields have started to slip a little as house prices have soared in last 12 months
  • There are now 627 Buy to let Mortgages available compared to 142 in 2010 

The collective value of property owned by landlords is set to smash through the £1trillion barrier next year after a boom in both buy-to-let borrowers and house prices in the last 12 months, a report suggests.

In the last year alone, the total value of buy-to-let homes has risen by £109.5billion – or 13.3 per cent. London accounts for 41 per cent of the total value, the research from Kent Reliance shows.

Next year could be a key one for the buy-to-let market. Some experts predict a rush of novice landlords due to pension freedom reforms in April, which will allow over-55s to access their pension pot in one go and invest it as they please.
Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2823795/Value-buy-let-properties-set-smash-1TRILLION-barrier.html#ixzz3IrCaVMxa

Tunbridge Wells Rental Market Analysis November 2014

Exterior--traditional--25-Beautiful-Homes

Royal Tunbridge Wells Market Rent Summary

Our rental price analysis for Royal Tunbridge Wells summarises the advertised rents for homes to let, calculated daily from the rental properties found by the Home.co.uk Property Search Engine

Total properties for rent in Royal Tunbridge Wells: 155
Properties for rent in Royal Tunbridge Wells listed in the last 14 days: 48
Average* property rents in Royal Tunbridge Wells: £1,254 pcm
Median* rent: £997 pcm
Average Time on Market (ToM) in Royal Tunbridge Wells*: 60 days

Properties for Rent in Royal Tunbridge Wells by Price

No. of properties Average ToM*
Rent under £250 pcm 0
£250 to £500 pcm rent 5 130 days
£500 to £1,000 pcm rent 76 43 days
£1,000 to £2,000 pcm rent 53 72 days
£2,000 to £5,000 pcm rent 21 71 days
Rent over £5,000 pcm 0

Property Rents in Royal Tunbridge Wells by Number of Bedrooms

No. of properties Average rent Median rent Average ToM
One bedroom 31 £715 pcm £676 pcm 38 days
Two bedrooms 66 £1,033 pcm £949 pcm 52 days
Three bedrooms 24 £1,442 pcm £1,372 pcm 97 days
Four bedrooms 17 £1,945 pcm £1,751 pcm 66 days
Five bedrooms 10 £2,864 pcm £2,751 pcm 46 days