Gibbins Richards

Details: Published: 29 August 2022; Hits: 621

Renting for the First Time? Read On

Are you a renting newbie? Are you flying your family’s comfy nest? Well, this one’s for you. Renting your first place isn’t as simple as moving in and unpacking – there’s a lot you need to know.

In this quick read, we help you prepare to sign on the dotted line and start your first tenancy.

Step 1: Budget

Have you planned your finances? Do you know what you can afford every month? Have you saved enough for a deposit?

Remember, it’s not just rent you must pay; you also need to budget for utility bills and council tax (unless they’re included in the rent), food and travel. Also, when you move in, you’ll have to pay for a TV licence, broadband installation and contents insurance.

Step 2: Search

If you know where you want to live, research the types and prices of available properties. Think about whether you want to move into a flat share, an HMO, or a place just for you. Speak to a local letting agent to discuss what’s available.

Be ready to move quickly once you’ve found a property, as the rental market can be competitive.

Step 3: Understand your tenancy agreement

Once you’ve found a place, you’ll need to sign a tenancy agreement. This details your rights and responsibilities as a tenant, your landlord’s responsibilities towards the property and you, notice periods and the rental amount. Keep a copy of this throughout the tenancy period.

Your deposit will be held in a tenancy deposit scheme, which means it’s protected. It will be returned to you at the end of the agreement if there are no disputes around the property’s condition.

Step 4: Moving in

Before you start lugging boxes into your rental, you should be provided with an inventory. This details the condition of the property and any furniture or fittings. Make sure you look at this closely. Tell your agent/landlord if there are any discrepancies between the document and the property’s actual condition. Sign it and keep a copy.

Check that there are working smoke alarms and carbon monoxide detectors. This is a legal requirement. Make sure you know about any fire exits or safety points.

Step 5: Landlord details

Your tenancy agreement will contain your landlord’s contact details. It is the landlord’s duty to maintain the property, for example, if the oven stops working or the toilet starts leaking. However, if a lightbulb goes out but it was working when you moved in, that’s for you to replace. Similarly, if you cause any damage during the tenancy, it’s up to you to sort it out.

However nice your landlord is, remember, they’re not your friend. It’s a business relationship. Renting a property is a transaction. So, keep interactions polite and professional.

If you’re searching for your first rental, our team will be happy to help. Contact us today.

Details: Published: 22 August 2022; Hits: 622

Why Buy-to-Lets Are Still a Good Investment

If you’re a landlord, chances are you’re feeling a bit hard done by at the moment. It seems like every other day, new rules and revisions are being announced around landlord and tenant law, which means you have to change the way you work and may face higher taxes.

But is it all doom and gloom?

Is it time to hang up your landlord hat and sell up?

We definitely don’t think so!

In this quick read, we tell you why investing in buy-to-let property is still a good idea if you’ve got the money (and the patience).

Demand for rentals

The pandemic turned the property world upside down. Suddenly, the urban rental market went flat, whilst rural and suburban rental markets saw a surge in demand. People couldn’t move around so vacant properties stayed empty.

However, as the world tries to get back to normal, many people have returned to their offices, and students are looking for accommodation. So, it’s a good time to get back in the game. Demand for rental properties will always go up and down, but currently, it looks like rental prices are staying high.

Steady income

Many people think being a landlord is the key to getting rich quick – but that’s never been the case. There are lots of costs involved with being a landlord, but ultimately, if you manage your investment properly, it will pay off. If you’re a part-time landlord, you can expect a regular sum to supplement your monthly income. If you’re a full-time landlord with multiple properties, you’ll see a rise in income as demand increases.

Buying (and spending) sensibly

As a landlord, the first rule to remember is that it’s not your home. Take your time finding a buy-to-let and decide whether you want a ready-to-go rental or a renovation project to which you can add value. A good agent can tell you how much rent to expect and the necessary changes that need to be made to maximise earning potential.

If you watch your pennies and don’t pay out too much for décor and furnishings, you can still earn a respectable income once you’ve taken taxes and other expenses into account.

Saving for the future

Despite changes to tax laws and what you can claim in expenses, one thing remains the same: your rental property is an investment into your future. Many people look at rental properties as part of their retirement income, either by the monthly rental yields or by selling the property on in later years.

Being a landlord isn’t an easy route to riches; it takes a lot of hard work. However, if you maintain the property and work with a reliable agent, it’s still worth investing in the buy-to-let market.

If you’re looking to invest in a buy-to-let, contact our team at Gibbins Richards Lettings and Management Ltd for help.

Details: Published: 15 August 2022; Hits: 632

How to Banish Bugs from Your Rental Property

If the idea of an insect infestation at your rental property makes your skin crawl, read on to find out how to beat the bugs this summer.

No landlord wants uninvited visitors in their buy-to-let – especially the six-legged variety that spread disease, bite, sting and cause property damage.

With insects breeding prolifically in warm weather, here’s a list of the little critters to be on the lookout for in your rental property. ?

Flies: Common house flies reproduce in large numbers, so even if you only have a few buzzing around the place, this can change quickly. Flies contaminate surfaces with bacteria from their gut and feet and cause food poisoning and other illnesses.

Cockroaches: You may not see these nocturnal creatures during the day, but you might spot their droppings. Cockroaches often move from sewers and drains to properties (yuk!). They can spread nasty bacteria such as salmonella, staphylococcus and streptococcus.

Wasps: These flying pests make their nests using wood pulp – sourced by munching through plasterboard walls and ceilings – and saliva. They often nest under eaves, so a tenant might hear them before seeing them. In summer, an average wasps’ nest can house 5,000 adult wasps – who can sting when threatened. Best call a pro to get rid of these blighters.

Bed bugs: These reddish-brown, seed-sized critters are like tiny vampires – they feast on blood. Their bites can cause anything from minor irritation to a severe anaphylactic reaction. Common signs of bed bugs include blood spots or brown stains on bed linen or mattresses.

Who is responsible for infestations?

As with many issues relating to rental properties, the answer isn’t always straightforward.

If the infestation is linked to low standards of cleanliness or leaving food and bins uncovered, the tenant is responsible.

However, if the insects have made their way in through holes in walls, gaps around windows or uncapped pipes, then the landlord is responsible.

In some cases, both parties may have a role to play in addressing the situation. Always look for practical solutions and act swiftly because the pests will only keep reproducing.

How to avoid bug infestations

Have a good rapport with your tenant so that they’ll inform you if a pest problem arises.

Encourage tenants to store all food in the fridge or cupboards and wipe up crumbs. Regular vacuuming will help get rid of eggs and larvae.

Ensure all garbage bins have well-fitting lids and encourage your tenant to seal rubbish bags before disposing of them.

Block any holes or gaps in woodwork and around windows and doors. Check that drains and pipework don’t provide an entry route for insects.

Check second-hand furniture carefully before moving it into your property – it could be hosting bed bugs. You can also buy special mattress protectors that prevent bed bugs from proliferating.

During routine inspections, look for insect droppings, eggs or discarded shells.

Visit the British Pest Control Association’s website for tips on identifying and eradicating insects.

And for more advice on managing a property, get in touch with us here at Gibbins Richards Lettings and Management Ltd.

Details: Published: 08 August 2022; Hits: 629

Why Landlords Should Never Skip Doing an Inventory

A thorough inventory can save a landlord time and money and prevent messy end-of-tenancy disputes. So why do so many landlords rush this essential stage – or skip it altogether?

In this quick read, we look at why an inventory is important and what you need to include in it.

Picture this

Your tenant of the past 12 months is leaving. You go to check them out and find a massive stain on the carpet, the sofa cover has been torn and there are lots of marks on the walls.

Uh oh.

You’re in a stand-off. The tenant denies causing the damage, but you know it wasn’t there when they moved in. However, unless you’ve documented the condition of the carpet, sofa and walls in an inventory before the tenant moved in, get ready to start paying out.

What is an inventory?

It’s a detailed report about the property, fittings and furnishings. It details things like cleanliness, contents and the condition of the premises prior to a tenant moving in. It’s often supplemented with pictures (and videos) and provided to both parties at the start of a tenancy agreement.

Also known as a schedule of condition, a thorough inventory should rate different aspects of the property from ‘poor’ to ‘excellent’.

Why is it so important?

While it’s not a legal requirement, it is essential. Yet many landlords fail to do it. Or they simply go through the motions and record only the bare basics.

Unfortunately, disputes between tenants and landlords are common. Especially at the end of a tenancy.

And with deposits now held in tenancy deposit schemes, a landlord can’t just withhold part or all the deposit in the event of any damage. Instead, the dispute must be officially resolved, and an inventory is essential to help reach a solution.

When should an inventory be compiled?

Before the tenant moves themselves or any of their possessions into the property.

Who should do an inventory?

The inventory is the landlord’s responsibility. You can do it yourself, ask your agent or organise a professional inventory company to perform it. You should keep a copy of the inventory and provide one to the tenant. Both parties should sign and date the inventory so that you’re in agreement.

At the end of the tenancy, the inventory should be revisited so the condition of the property and any contents can be checked.

It can also be a useful reference for landlord inspections during the tenancy period.

Is an inventory necessary for an unfurnished property?

Yes. An inventory is always necessary.

From light switches to kitchen cupboards, garden fences to plug sockets – an inventory details the minutiae of a rental property and the condition of every aspect.

If you’re searching for new tenants, get in touch with our lettings team at Gibbins Richards Lettings and Management Ltd.

Details: Published: 01 August 2022; Hits: 680

What Are a Tenant’s Responsibilities?

Moving into a new home can be exciting, but renting a property comes with responsibilities. To avoid disputes – or paying for things that don’t fall within your remit – it’s helpful to know your obligations as a tenant.

Read on for a general guide to a tenant’s responsibilities (but please note that for specific detail, refer to your rental agreement).

It’s a two-way street
The most important thing to remember about the tenant/landlord relationship is that both parties have an important role to play. The landlord has a duty to ensure that the property they’re letting is safe and habitable, and the tenant should treat the property respectfully.

Your rental agreement
As with most relationships, things work best when everyone understands what’s expected of them. And that’s why your rental agreement is so important – it’s a legal contract that spells out the responsibilities of the landlord and the tenant. It should cover everything from rent and repairs to how to end a tenancy.

Always read, and make sure you understand the terms of a rental agreement before you sign on the dotted line.

While your contract will cover most eventualities, here are some common causes of confusion regarding tenant/landlord responsibilities.

Repairs and maintenance
Generally, landlords are responsible for the property’s structure (walls, chimneys and the roof), sanitation (toilets, sinks and pipework), boiler and electrical wiring.

Landlords are also responsible for the furniture and electrical appliances that are in the property when the tenant moves in.

Any items or goods brought into the property by the tenant are the tenant’s responsibility.

Damage
If a tenant (or their guest) causes damage to the property, then the tenant is obliged to handle the repairs. So if, for example, you invite a friend around and they spill red wine on the carpet, it’s your job as the tenant to get rid of the stain.

Reporting issues
While the landlord has to take care of structural and external features, it’s a tenant’s responsibility to report problems. It’s best to do this when you first notice an issue so that it’s resolved promptly.

Access
If you’ve reported an issue to your landlord, a tradesperson will need access to the property to do the repairs. This work should be conducted at a reasonable time, and you should be given 24 hours’ notice before they arrive. A tenant can refuse access on ‘reasonable grounds’. But to get the problem resolved as soon as possible, it’s best to be accommodating.

Gardens
Landlords are typically responsible for fences, guttering and lopping trees. The tenant is obliged to carry out tasks such as weeding, watering and disposing of waste.

Cleanliness
Cleanliness can be a thorny issue – half of all end-of-tenancy disputes are about cleaning*. Before moving out, a tenant should ensure the property is cleaned to the same standard as it was at the start of the tenancy (although allowances are made for general wear and tear).

Talk to your landlord – or their agent
While it’s essential to adhere to the terms of your rental agreement, if you have a question, raise it with your landlord or their agent. Sometimes disputes are caused by simple misunderstandings that can be sorted by having a quick chat.

To find out about rental properties in the local area, get in touch with us here at Gibbins Richards Lettings and Management LTD.

*Tenancy Deposit Scheme