Trade Secrets for Landlords

• Top 10 Tips for Buy to Let Landlords

A buy to let property can be a great investment, but it is very different from buying your own home. Great care and expert advice must be taken before plunging into the buy to let market. Be sure to take advice from specialist financial advisors and your local Licensed ARLA letting agent.

The National Association of Estate Agents (NAEA) and Association of Residential Letting Agents (ARLA) have prepared a Top10 List of Tips for anyone considering becoming a buy to let landlord. click here for the full list of advice.

• Cleaning costs most common dispute after tenants move out

A tenancy deposit protection scheme surveyed landlords and agents, asking them the main reasons why deposit money is deducted at the end of a tenancy. Click here to see the results.

• Lettings Checklist

Before instructing a Letting Agent landlords should consider a letting agent’s overall service and costs and should be aware of any ‘hidden’ charges.

It has become clear that some Letting Agents are relying more and more on lowering their percentage fees in an attempt to gain business and then charging  “hidden” fees such as “Tenancy agreement Fee”, “Registering Tenancy Deposit Fee”, Administration Fee” etc.

The Property Ombudsman Christopher Hammer said in his annual report; “Landlords who are new to lettings, for example, will no doubt be attracted by lower fees and may not enquire what protection the agent can provide both them and their tenants should problems later occur”

New landlords are more likely to be attracted by ‘cheap percentage fees’ but will not have the experience or knowledge to ask their potential agent about such vital things as Client Money Protection, Deposit Registration and rent guarantee.

Current landlords should consider if they are getting value for money from their agent. They should compare what they are being charged and consider if their current agent is offering the same level of service as Martyn Gerrard.