Tips for buying to let during a recession

As we are all aware, property prices across most of the UK have been in decline. As a result, many property developers have panicked and sold off a lot of their properties, often making a considerable loss.

This fear of losing out tied in with a fall in demand which meant many properties were being sold for much lower than their original price.

Despite early signs of improvement in the market, there are still a lot of bargain properties to be had.

However, as confidence grows and the market improves, so too will house prices. When employment figures and market confidence improves, demand goes up and so do house prices.

It should still be remembered that the market is still unsteady and if you are to take advantage of the market, you must do your research and plan for every eventuality.

• Research - It is important to consider what is popular in the market, ask your agent what kind of properties are selling. Remember, you are not buying for yourself. You should also consider the surrounding areas and factors such as the nearest school, transport links and parking. Buying to let in your local area is often wise since you will know the benefits and pitfalls personally.
• Renovation - Ensure you purchase a property that is in good condition. It may seem like an appealing project to renovate a property but extra work costs you extra money. A property that requires very little work will make you the most money. You should also be aware of properties with a lot of woodwork and large gardens. Such properties will require a lot of maintenance and will most likely add little to the profitability.
• Preparation - "A good landlord should ensure they have thought of all eventualities and have plans in place should problems arise," . Landlords should also factor the costs of tradesmen into their business plan to avoid unexpected costs.  "Sometimes things can go wrong, so thinking ahead is likely to save money in the long run."
• Insurance - "Take out Rent and Legal Insurance,"  "In this current climate circumstances can change and insurance is there as a precautionary measure. The cost of the policy is likely to be far lower than the estimated costs if the tenant falls into arrears."

• Management - It is important to have a hands-on approach to your property. If you are unable to do so because you work full-time or you own multiple properties, be sure to delegate to a professional external party. Either way, it is crucial to set deadlines and budgets and if this is your first time, make sure you seek as much advice as possible from those who have done it before.

Even more online presence ....

Property Locker are proud to announce we have now added Search4lets marketing portal to our already extensive online marketing presence .

Is your letting agent showcasing your properties as much as us ?

http://www.search4lets.co.uk/

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Appliances - looking after them and your tenants

When letting your property, you do but a good deal of faith in tenants to look after expensive items and probably those at the top of the list will be white goods: fridges, washing machines and tumble dryers. These appliances aren't easily damaged, but they do take some maintenance and they require some care to protect them in the long run. So how can you make sure your tenants are looking after your appliances?

Leave Instructions and Manuals

You don’t want to bombard your tenants with information when they first move in, but you do need to make sure that they know how to look after your appliances: different makes and different brands often require very different treatment. Leave a folder of appliance manuals for your tenants when they move in and why not write out a few instructions on cleaning: removing filters from tumble dryers is always a classic problem.

Be Open to Calls

It can be frustrating when a tenant rings up asking how to change a lightbulb or how to lock the front door, but it’s important to be open to calls and to try to help as best as you can. Make sure that your tenants know they can call you if they have difficulties – it will help to protect both your relationship with your tenants and your appliances!

It’s best to establish a protocol with your tenants as soon as the move in when it comes to appliances: you then can be sure that things are being properly looked after. It’s good practice to leave some information so your tenants can troubleshoot themselves, but at the end of the day the most useful thing is your mobile phone: just keep in touch.

Is your Property your Pension?

Given that, according to statistics released by BRDC Continental, an independent research organisation, 81% of landlords view their property as a pension, it’s quite likely that yours is too! This figure is staggeringly high but not all that surprising given the economic uncertainty we’re experiencing at the moment. But are too many landlords putting their eggs in one basket: is property the right sort of asset for the pension fund?

Property Accumulates Slowly

The average length of a mortgage in the UK is around 25 years and that tells you something about how value can be accumulated on property. Property investments do take time to mature and, therefore, property lends itself to long-term investment. Investing for the long run also allows time for the costs void periods (loss of rent, mortgage interest and unoccupied property insurance to cancel themselves out.

Property CAN Crash

On the other hand, property is never a guaranteed safe asset and though we have seen steady and significant growth for many years, that won’t necessarily continue. It’s always difficult to spot a bubble before it ends, but even after a year of flat prices, property values don’t necessarily correspond to their current prices. This isn’t a phenomena unique to property, though and it affects all asset classes.

Pension Planning and Liquidity

A house is only worth anything in financial terms if you can exchange it for cash which, of course, relies on you finding a buyer. If you are relying on property to fund your pension then it is worth thinking about how and when you are going to convert your property into something more liquid, i.e. cash. With property it’s just about taking the market at the right time and a better investment can sometimes be had from selling up two years earlier than you wanted.

Undoubtedly property can be a strong performer in a balanced portfolio, but don’t assume that a property investment is infallible. It takes time, effort and investment to make buy-to-let property work and that’s why the returns are so great.

Middlemass Court Falkirk FK2 7ER- £450pcm

This stunning top floor flat comprise's of entrance vestibule, reception hallway, bright lounge, two generous double bedrooms, one with fitted wardrobes and the other with storage facilities, an attractive modern fitted kitchen complete with base and wall mounted units and complementary work surfaces and there is a three piece family bathroom with over bath shower.

There is good storage located throughout the property, which has been neutrally and tastefully decorated and benefits electric central heating, double glazing and secure door entry. 

http://www.propertylocker.co.uk/details/50/9MCF/

Carbon Monoxide - its a killer ....

Stay Safe - Be Aware this #CarbonMonoxideAwarenessWeek :http://bitly.com/XxMe8a 

Scottish Landlords Pay into Tenancy Deposit Scheme

If you’re letting property in Scotland then by now you should know that the deadline to pay all tenant deposits received after March 7th 2012 into a Tenancy Deposit Protection Scheme (TPD) is Tuesday; that’s the 14th November. This is now enforced under Scottish law and failure to comply will lead to prosecution. So if you’re new to the TDP, what do you need to know?

Spreading the Risk with Third Parties

Imagine you’re going on holiday abroad. If your flights are cancelled, who can your turn to? Your airline may be the first port of call, but at the end of the day it will be your travel agent who arrange your compensation. The TDP works in exactly the same way, and by enforcing that money is held with an authorised third party, tenants have two places to go in the event of a dispute. As a landlord, your rent guarantee insurance provider provider gives you this option too.

The 30 Day Period

New tenant deposits, that’s anything received Wednesday in Scotland and anything new in the rest of the UK, must be paid into a TDP within 30 days of receiving the money. This is important to remember and does not necessarily constitute the beginning of the tenancy. If you are taking a deposit any more than 30 days in advance of your tenants moving in, as many student landlords do, you will need to pay the deposit into a TDP.

Ensuring Payment is Made

The law does not consider who physically makes or does not make payment, it is only interested in the deposit on a property. If, for example, guarantors pay your tenant’s deposit or the deposit is paid to agents, you need to be sure that deposit still ends up in a TDP. Almost all agencies will do this automatically but it is worth checking.

The new laws shouldn’t cause too many compliance issues for small scale landlords but it may be something of an administrative hiccup for larger property entrepreneurs. It’s also worth considering the cash-flow implications of this legislation if you’re letting in Scotland: maybe it’s time to look after the savings account for a while!

Energy Assistance Package - Scotland

If you live in Scotland then the Energy Assistance Package could help you make your home more energy efficient.

The Energy Assistance Package is backed and funded by the Scottish Government and administered by the Energy Saving Trust. It was set up to help people in Scotland heat their homes more economically and effectively.

The scheme offers several levels of assistance depending on your circumstances.....

Energy Assistance Package - Scotland | Help & Advice | HomeServe

Calder Glen Court, Mull, Airdrie £495 pcm

Bright modern 3 bed flat , white goods included,
5 mins from Airdrie centre
19 mins Cumbernauld
25 mins Glasgow

ASK ABOUT OUR NIL DEPOSIT WARRANTY SCHEMES

http://www.propertylocker.co.uk/details/49/303CGC/

Green Deal contracts set to go live in rented sector | ARLA

The first Green Deal contract for landlords in the private rented sector (PRS) is set to go live later this week as 10,000 properties are due to receive the energy efficiency upgrades.

Green Deal contracts set to go live in rented sector | ARLA

Stunning and deceptively large 1 bed flat, fully refurbished to excellent standard £395 pcm

Stunning and deceptively large 1 bed flat, fully refurbished to excellent standard including ;
Study/office room
Quality UPVC Double Glazing
New Gas central Heating
New feature/glazed internal doors
New ceiling lights/down lighters
New Fitted Mirrored Wardrobes 
New Carpets, Vinyl, Laminate
Gloss Vanity to bathroom and Gloss Wet Wall to Bath/shower area
Shared gardens
Plenty of parking
and excellent transport links 
Dunfermline 8 mins
Dalgety Bay 12 mins
Kirkcaldy 21 mins
Edinburgh 30 mins
Perth 30 mins - all by car and supplied by Google maps 

ASK ABOUT OUR NIL DEPOSIT WARRANTY SCHEMES

http://www.propertylocker.co.uk/details/48/51CD/

How to Effectively Pack Your Belongings When Moving Home

Moving home is noted as one of the most stressful experiences of our lives. That’s no surprise, considering what a mammoth affair it can be. Transporting your entire life to a new location was never meant to be easy. However, there are measures you can take to reduce your stress levels and ensure a smooth transition to your new home. Here, we’ll give a few handy tips on how to effectively pack up your belongings. So, let’s get to it.

Buy plenty of packing materials

Before you can start packing, you need to ensure you have enough packing materials to store all of your possessions. It can be surprising at just how much stuff you actually own when you start packing. So, to avoid coming up short, buy plenty of packing materials. Boxes, tape, containers, bubble wrap, and anything else you may need should be bought in abundance. It’s always wise to have too many packing materials than not enough. Any excess packaging you have can be stored for future use.

Plan and pack well in advance

This is the most important aspect of facilitating a smooth transition to your new home. Without proper planning, you face the risk of having a disorganised, haphazard move. If you’ve got a move coming up over the next few months, then start planning and packing now. You can never be too organised when it comes to moving home, and formulating a plan of action will not only put your mind at ease, it will also make the whole moving process much, much easier.

Start packing non essential items now

We all have items in our home that can be considered non essential. Items such as decorations, rarely used goods, and possessions we can afford to miss for a month or two are all items that can be packed away now. The sooner you start packing your non essential items, the sooner your move will become a reality. Be ruthless too, and anything that you can do without pack away. You’ll feel better for it once it’s packed and ready to go.

Create a checklist for your items

After you’ve got all of your non essential items boxed up and out of sight, start creating a checklist for your other goods. Decide when you can afford to pack other items that you may need at this present time, but not further along the moving process when moving day is approaching. It can be a wise idea to formulate a weekly packing plan. This will not only help you pack in bite-size chunks and make the process easier, it will also ensure you stay on top of your packing right up to your moving day.

Finally, label every box

You also need to consider your plan of unpacking when you reach your new home. If you haven’t labelled your boxes, then you’re going to have a nightmare when it comes to finding your possessions. If you can, group items together, such as ‘living room items’ or ‘kitchen utensils’. You’ll be thankful for it when you reach your lovely new home.

Follow those packing tips and you should find the whole moving process a lot easier. Moving home should be exciting and not stressful, so make sure that it is.

Help keep animals safe this firework season

As November approaches, the Scottish SPCA is warning that fireworks can have a serious impact on the welfare of domestic, farm and wild animals.

Read the full article and show your support 

http://www.scottishspca.org/news/1095_help-keep-animals-safe-this-firework-season

What is Condensation?

Condensation is an extremely underestimated cause of damage to our homes and is almost certainly the most common form of dampness within a building. It occurs where warm moist air comes into contact with cold air or a surface that is at a lower temperature. When the moist air cools, it is unable to retain the moisture and is released to form condensation in the air or on the surface.
Learn more about it and how to avoid it by watching this short video ....

Lets for Pets: Are dog-friendly flats too scarce?

Welfare charity Dogs Trust have launched a campaign aimed at better advertising of pet-friendly rental accommodation.

The charity have signed up television property-show presenter Jasmine Harman, known for her work on Channel 4 show A Place in the Sun - Home or Away, to front the campaign. Mrs Harman is also a landlord.

Dogs Trust have run a 'Lets with Pets' scheme since 2009, aimed at helping tenants who were having problems finding rental accommodation where their four-legged friends were welcome.

The latest campaign is named 'Ask, Advertise, Add', and it is aimed specifically at letting agents, to encourage them to always enquire of landlords whether they are happy to list their properties as 'pets considered'. The charity say that one in three pet owners have struggled to find rental accommodation where their pets are allowed, despite over 70% of landlords surveyed saying they would be willing to consider allowing pets in their property. The problem, the charity has concluded, is therefore not a lack of properties, but a lack of advertising.

Jasmine Harman on dog-friendly flats:

     Mrs Harman said, "As a pet-friendly landlord myself, I am delighted that Dogs Trust is looking after the interests of renters with pets.

"In my experience, many landlords would be happy to consider pets but lettings agencies have sometimes been slow to pick up on this and some could do more to find out if pets would be considered."

Following on from Harman's comments, Susie Jones of the Dogs Trust added, "We know from experience that some people will go to extraordinary lengths not to be parted from their pets. People have moved areas or rented larger homes than they need simply to keep their pets with them.

"We hope that the Lets with Pets 3A's campaign will encourage and support more landlords and letting agencies to take up a 'pets considered' approach to letting their properties." 

Here at Property Locker we're definitely behind dog friendly Properties, being dog owners ourselves we are proud members of the scheme

Testimonials

Check our website for more glowing testimonials like these ...

“Barry is extremely professional in all aspects of the services he provides. From providing quality letting opportunities, portfolio management, and restoration analysis, the standards of service from Barry and Property Locker were always first class. I would have no hesitation in recommending Barry and his company to anyone looking for a professional result.” 

http://www.propertylocker.co.uk/11/Testimonials_/

Arrears - The true costs ....

The archenemy of the landlord has always been the tenant who is in arrears. Tenants who fail to pay on time are immensely costly to landlords, but it’s not just the missing rent that needs to be sorted out, there are a whole host of other costs that need to be funded too. Here are a few incentives to make sure your tenants pay up on time!

Time Costs and Chasing

A tenant who is late paying is not all that likely to ring you up and apologise if they miss rent, although it does happen. What’s more common is that landlords have to spend considerable time chasing tenants who don’t pay which is time that could be spend better doing other things. If you seem to spend your whole time chasing tenants about rent, it’s worth keeping track of time spent writing emails or on the phone: you may be surprised how much it costs!

Interest and Missed Payments

Rent that doesn't come in on time usually means a missed payment on a mortgage for smaller landlords and that can come at an enormous cost. Not only will you be charged a lot of interest but you will have a permanent blemish on your credit record. It’s possible to alter what the record says, but it’s a lot of hassle that’s best avoided.

The Opportunity Cost of Missed Rent

Finally, rent that is late is rent that you could have put to better use elsewhere. Even if you were only intending to put the rent towards savings or, perhaps, to pay off the overdraft, you’re missing out on interest that you could be owed. A lot of tenants suffer greatly from this and one of the best remedies is to charge tenants penalties equivalent to your opportunity cost for missed rent.

The only sure fire way to avoid arrears is to take out rent guarantee insurance, this way you know you’ll be paid on time, every time. Don’t let arrears build up too much and if a tenant is habitually not paying then it can pay real dividends to talk to both your tenant and your insurer to sort things out once and for all.

New EPC legislation

New regulations came into force this week changing the requirements on letting agents and landlords with regards to Energy Performance Certificates (EPCs). 

Any EPC which is issued before 1 October 2012 will remain valid for the following 10 years. Therefore, the changes in legislation will only affect EPCs issued after 1 October 2012.

Letting agents and landlords are now required to make a copy of the EPC available to prospective tenants for inspection prior to entering into the tenancy. 

If the property is currently let, the letting agent or landlord must provide a copy of the EPC and the related recommendations report to the tenant free of charge. These requirements do not apply where a letting agent or landlord is renewing a lease with an existing tenant. However it would be good practice to adopt this requirement.

Since 2008 there has been a requirement on the issuer of the EPC to register the EPC in the Scottish EPC Register. This is a register which is operated by the Energy Saving Trust on behalf of the Scottish Government. The new regulations introduce a registration fee of £1.15 for residential property and £5.36 for commercial property registered after 1 October 2012. 

There are also further changes coming into force from 1 January 2013. 

From this date, prospective letting agents or landlords will be required to include an EPC rating for their property in any advertisement for the property including newspaper advertisements, property schedules and internet advertising. 

A “To Let” sign outside a property does not need to include an EPC rating. 

Where a letting agent or landlord fails to comply with the advertising requirements, a Penalty Charge Notice may be issued within 6 months of the breach. The amount payable under a Penalty Charge Notice is up to £500 for residential property.

Finding it tough to acquire a full deposit?

Are you looking to rent a property?

Finding it tough to acquire a full deposit?

We now have a simple solution!

Deposit Approve is a ground-breaking Tenant Guarantor scheme covering the whole of the United Kingdom. This provides a cost effective solution to people’s ability to rent private residential property. This is done by providing Landlords and their agents with all the reassurances and guarantees required to feel 100% secure throughout the tenancy period.

Instead of paying the normal deposit of 4-6 weeks rent in advance you now pay a simple one off “No Deposit Warranty” to cover you whilst you are in the property.

This will enable you to move into the property of your choice for a lot less money than you thought.

At Property Locker we now have a number of properties suitable for both working tenants and those that are in receipt of benefits. Providing you can pass a referencing check then many of our properties require a simple £150* fee for payment of the “No Deposit Warranty”.

Please call our Office (0845 805 9102) for full details and find out how you can move into a new property today!

*For monthly rents up to £600

Value of Scotland's detached houses up by over £800 per month in past decade

The value of Scotland's detached properties has increased by an average of £815 per month over the past decade, the largest increase in cash terms compared to other property types.

The latest research from the Bank of Scotland shows that since the middle of 2002 the average price of a detached home has grown by almost £98,000, or 70%, to £238,111.

Over the past 10 years the average price of terraced houses in Scotland has grown by 85% to £114,921, the average price of semis has increased by 82% to £139,017, followed by flats by 75% to £111,602 and bungalows by 70% to £171,172.

Detached houses have outperformed all other property types since the start of the financial crisis in 2007. In the past five years, the average price of a detached property has fallen by 9%. This compares with a 16% decline in the average price of semis and a 17% fall in the price of bungalows. Meanwhile terraced houses have fallen by 27% and flats by 23%.

The Bank says that the tightening in mortgage lending criteria since 2007 has impacted many buyers, making it more difficult for first time buyers, in particular, to enter the market. This development is consistent with terraced houses and flats recording the largest price falls in recent years as these property types are very popular with first time buyers. Terraces and flats combined accounted for 71% of all first time buyer purchases during the first half of 2012 in Scotland.

In contrast, terraces and flats recorded bigger price rises than other property types during the five years before the crisis from 2002 to 2007, up by 152% and 126% respectively. Circumstances for first time buyers were easier at this time with a much greater availability of high loan to value mortgages.

The average price of a detached house is now 71% higher than that for a semi detached home, a gap that has widened from 59% at the height of the housing market in the middle of 2007, the research also shows.

Similarly, percentage differences in prices between detached properties and terraces and flats have also widened. The average price for a detached home is 107% higher than for a terraced house compared with 67% five years ago. Since 2007, the difference in the average price of a detached house and that of a flat has more than doubled to 113% from 45% five years earlier. ‘The prices of those property types in Scotland that are less reliant on first time buyers, such as detached homes, have been more resilient since the financial crisis in 2007,’ said Nitesh Patel, housing economist at the Bank of Scotland.

‘Nevertheless, prices of all property types in Scotland have fallen over the past five years with the biggest declines for flats and terraced homes. These types are particularly popular with first-time buyers and their sharper price falls probably reflect the difficulties that those looking to enter the market for the first time have been facing,’ Patel added.

The research also found that semis and terraced housing account for a larger share of house sales since 2007 at the expense of flats and detached homes. These two types have seen their combined share of all home sales rise from 35% to 45% in 2012. Terraced properties now account for a quarter of all house sales, up from 16% in 2007. The share of semi detached homes has edged up from 18% to 20% during the period.

In contrast, flats have seen a drop in their share of all sales since 2007 from 36% to 32%. Detached homes have also seen their share of all sales decline, from 20% in 2007 to 14% in 2012.

The research says that the increase in the share of sales accounted for by semis and terraced housing may be due to greater difficulty in trading up to detached houses and low transactions levels for flats given low new build volumes and existing flat owners are often unable to trade up because of little or no equity.

Private landlord who threw tenant onto street jailed

A Sheffield landlord has been given nine months jail for throwing one of his tenants onto the street without his shoes.

Jay Allen of Padley Way, Sheffield Lane, forcibly evicted Chris Blades from his home on Handsworth Road. Mr Blades had ran up £900 in rent arrears.

The court heard that Allen, 30, told his tenant that "I don't have to give you f*** all" after being told by Mr Blades that he was entitled to notice. An altercation followed which resulted in Mr Blades ending up outside his house.

Councillor Harry Harpham, Cabinet Member for Homes and Neighbourhoods at Sheffield City Council, said: “Words cannot express how disgusted I am to hear about this case. The only saving grace is that we have managed to take these bullies to task and they have been punished for their crimes.

“Landlords take note, we will not tolerate this kind of activity. We are committed to making sure that private renting offers a safe and desirable form of housing. This includes making sure that there are high standards and responsible management." 

Landlords and tenants argue more about cleaning than anything else

According to the Association of Independent Inventory Clerks (AIIC), the cost of cleaning a home when the tenant leaves is the single biggest cause of landlord-tenant discord.

Although only 2% of tenancies end in a deposit dispute, the AIIC have found that when such a dispute does occur, 52% of the time it is due to an argument about cleaning up the property at the end of a tenancy.

A poll amongst landlords conducted by meetmyagent.co.uk explored concerns amongst landlords, and found that 73% of landlords found that their properties were returned to them in a poor condition when tenants leave, with only 27% feeling that homes were left in a good condition. Though just 5% of landlords thought that homes were a 'complete wreck' after handover, 40% of landlords claim to have needed to refurbish a property owing to the condition it was left in.

10% of landlords claim to have spent £2,500 or more on repairing a property to its initial condition at the end of a tenancy.

Landlords and tenants clash over cleaning issues
 

Speaking out on the findings, AIIC chair Pat Barber had this to say:

"Many tenants fail to leave their property in the same condition at check-out and are often very surprised when they are told that professional cleaning is required. Tenants rarely treat their rented property in the same way as they would a property they owned themselves. Unfortunately accidents do happen during a tenancy and tenants need to realise that they must take financial responsibility for things that are beyond normal wear and tear.

"Recently a tenant was outraged when she was told that the oven, which was listed as in clean condition at time of check in, was now very dirty and needed a deep professional clean. When this was explained at the end of the check-out inspection she commented that surely this is normal wear and tear, I had to cook food in it during the tenancy."

Freeing Up Cash for Purchases

Almost daily there is a news story from some part of the world that claims landlords are looking to expand on their portfolios and buy, buy, buy! This may be because we are coming towards the bottom of the perceived dip in market prices, or it may be that investors are losing faith in other assets. Whatever your reason, though, if you’re thinking of expanding your portfolio, there’s one thing that really counts: cash.

Why does cash matter?

If, as is the case in 90% of property purchases, you’re looking to take credit (i.e. a mortgage) to purchase a property you’ll need to lay down a deposit. This can be as low as 5% if you have a good credit rating, but the more you can put down, the cheaper your mortgage will be in the long run. The key, therefore, to getting a good return, is putting down the biggest deposit you can afford and securing the cheapest mortgage possible.

Existing Sources of Cash

If you have cash in savings or in other investments, your property deposit might be the ideal time to use it. Remember to account for the opportunity cost of the returns you’ve foregone in moving these assets and if you’re earning highly from a share portfolio then it may be best left along. However, it’s usually cheapest to tie in whatever cash you have available to you before looking elsewhere. Equally, chase up any monies you are owed, whether that’s from your tenants, the taxman or even your landlord insurance provider.

Liquidating Assets

If you don’t have huge amounts of savings to spend then your first option is to sell off a little property. Releasing equity may help you fund a new purchase or, possibly, several new purchases. Oddly enough, it may be possible to use other sources to maximise your deposit: using funds from an overdraft for a few months might work out cheaper in the long run.

When looking to free up cash, always thing of the other side of the debate and do remember that you will need some cash to keep running your existing portfolio. It’s around this stage that most landlords turn to a financial adviser to help them keep things in shape, so don’t be afraid to ask for advice.

Five Steps to Make your Home Winter Ready

Even after the washed out summer, there are still some essential steps that need to be taken now to avoid finding problems once winter has set in. We all know that we should make our cars winter ready by checking windscreen washer levels, anti-freeze, tyres etc., but how many of us do the same with our home?

Here are five things that you need to look at now before it is too late!

1. Gutters

A sadly overlooked servant of our home, gutters sit at the base of our roof with the endless task of collecting rainwater and diverting it to the nearest drain.

Spare a thought for them this autumn and make sure that they are not full of debris and are aligned correctly to avoid the nuisance of overflow in heavy rain which can cause serious problems such as damp penetration into the home.

2. Ventilation

It is human nature to want to seal every crack and to stop every draught, making our homes as air tight as possible. Unfortunately, this leads to poor ventilation which in turn leads to condensation possibly leading to mildew and in some extreme cases health issues - triggering ailments like asthma.

As winter sets in, remember to warm the home, but also provide adequate ventilation. Most double glazed windows now have a secure locking function leaving the window slightly ajar. Do this in at least two rooms to create a through draught, which means your clothes will not go mouldy in the wardrobe.

3. Draught Proof and Insulation

There is a crucial difference between drafts and ventilation. Ventilation is a friend whilst drafts are your enemy. Draughts will chill your feet and give you neck ache, so take a look around the home now and draught proof your letter box, door frames, wooden window frames and any other place that might let in that cold North wind. There are still plenty of grants around for cavity and loft insulation. Take advantage of these and cut up to 25% off your heating bill.

4. Check your Boiler

Plumbers love the onset of icy weather almost as much as car body repair shops. It is probably the most profitable time of year. Beat the rush by checking your boiler works now. Remember, you should run the boiler for half an hour once a month throughout the summer months to make sure that the pump does not seize.

5. A Stitch in Time Saves Nine

This phrase applies so well to your home. Walk around the outside and quickly apply primer and paint to any bare wood that you find. It may be too late to have the outside of your house decorated before winter, but applying a small amount of paint now will avoid rot setting in through the cold and wet winter months.

Once all of this is done, just put your feet up and count the days to Christmas!

The top cause of all fires in British homes

Not using appliances properly is the top cause of all fires in British homes, according to the Electrical Safety Council.

http://tinyurl.com/cevjxvq

Client Testimonials

Another great Testimonial from one of clients ......

As a landlord who has self-managed all of his properties for the last 8 years I was quite reluctant to pass the reigns over to a letting agent. Barry has exceeded all my expectations, void periods have been kept to a minimum, tenant issues have been dealt with professionally and promptly and it has allowed me to free up my time for other pursuits. Would highly recommend Barry to any Landlord that wants a reliable, trustworthy and good value letting agent. August 20th 2012

Fraser Gordon, Glasgow

  Landlords Concerned with Negative Equity

Though a general air of confidence does seem to be building around rental property, there is still an overriding worry which could leave some landlords in a difficult situation. House prices are still falling and that could leave landlords in negative equity. Early estimates suggested that the number of landlords in negative equity could rise to around 30% by the end of this year, but even a more conservative estimate could mean serious financial problems for some landlords.

Is Negative Equity a problem?

Not necessarily: if you’re in a position where your tenants are paying your mortgage comfortably and you are hoping to hold onto your property for a few more years, then a negative equity is unlikely to have any impact upon your investment. It’s likely that property prices will continue to fall for at least a few months, but we should reach the bottom of the trough soon. Even if prices remain flat, a negative equity situation can be resolved with no net loss if you generate enough income from your tenants.

Access to Finance

However, there will be impacts of falling into negative equity on your financial potential. You will find that taking out extra loans on a property that is in negative equity almost impossible, and you might find it tricky to take on another mortgage on another property if you want to expand. Keeping your options open is a wise idea, so make sure you’ve got a reasonable overdraft or some savings and a good landlord insurance policy to protect against the worst.

Selling Up

If you’re in a position where you’re desperate to sell, negative equity could be a serious problem. If you absolutely can’t wait, your best bet may be to pay off your mortgage as much as you can, and hope to cover debt you owe with savings. It may be worth consulting a financial advisor for a full range of options.
Negative equity is a difficult concept to get your head around and it’s even more tricky if you’re working with old valuations. If you’re not selling anytime soon then it’s unlikely that you have too much to fear, but do be aware of the implications on your financial power.

Tenants and Guests

Whether a landlord should or should not have the power to decide whether friends, partners or relatives come to stay in a rental property is hotly disputed topic, and it can be difficult to draw the line between who is a guest and who is an extra tenant. The law tends to be murky and unspecific in these cases, and all landlords will have their own approach, but here are a few words of caution about tenants hosting guests for extended periods.

The Laissez-Faire Approach

In theory, there is nothing wrong with leaving things as they are: the truth is, you probably don’t know half of the guests that your tenants are entertaining! There’s also something to be said for the fact that it really doesn’t matter, and so long as these guests are not interfering with the normal running on the property, there are no issues.

Guests in HMOs

Due to the laws surrounding HMOs and the number and makeup of the occupants, a little more care may be required. If guests stay for a long time, they may well fall into the definition of a ‘tenant’ and, thus, your HMO agreement may be violated. Alternatively, if you’re letting a property on the verge of being an HMO, having a guest in frequently could put you over the edge.

Fire and Theft

Of course, there are considerations surrounding fire and theft and your landlord insurance won’t necessarily cover guests as well as tenants. You’ll almost certainly find that a guest’s possessions are not covered if stolen or damaged by fire, and you may also come into difficulties if a guest was a cause of an incident. In generally, it’s better to know who is who.
Most tenants will, from time to time, have guests in the property and there is not necessarily anything untoward about that. You do need to be careful about insurance and the risk of your property becoming an HMO, but why not seek to turn your difficulties into an opportunity: there’s no doubt that you could let a couple who have been living in a studio apartment a good deal on a two-bed!

Universal credit: Frank Field warns of 'disaster'

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http://www.bbc.co.uk/news/uk-politics-19555748

2 bed Central Falkirk £395 pcm

Central Falkirk £395pcm, Victoria Rd

Bright 2 Bed flat located on top floor , newly decorated and new kitchen.
short walk to retail park,town centre, train station etc

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