Author: Theresa Woodall

Owning a rental property isn’t just about what happens while tenants are in place; effectively managing periods when your property is unoccupied is equally important.

Every landlord faces void periods as a natural part of property letting, making it essential to prepare financially and strategically to manage its impact.

Void periods mean not only the loss of rental income but also the burden of continuing to pay the mortgage, utilities (including standing charges) and council tax without money coming in from tenants.

It was once common for local councils to offer a grace period for council tax on empty properties, but with budget pressures, these reliefs are increasingly rare.

Here are some ways you can manage and minimise void periods.

Financial preparedness: Always have funds set aside to cover expenses during unoccupied periods.

Council tax awareness: Stay informed about your local council’s policies on empty properties to budget effectively.

Proactive maintenance: Use the notice period to enhance the property and carry out any necessary decorative or remedial works to bring the property back up to scratch and make it more attractive to future tenants.

Insurance considerations: Ensure your insurance covers void periods and consider additional policies for longer voids.

Tips to protect your property investment

Continuous maintenance: Keep your property in top condition to attract and retain tenants.

Be responsive: A good relationship with your tenants can encourage longer stays.

Professional assistance: Consider employing a letting agent to manage the property, especially if you’re short on time and need an experienced expert.

Seasonal planning: Recognise the challenges of letting during quieter periods, such as Christmas, and plan accordingly.

Contact us –

At Chamberlains, we’re here to help Teignbridge landlords thrive, offering comprehensive property management services to minimise void periods and maximise your rental yields.

Get in touch to learn more about how we can help you.

If you’ve just inherited a rental property, then you may be wondering what your options are.

While you won’t need to make any decisions on the spot (it usually takes many months to settle an estate), it’s good to start thinking about the issues you’ll have to address in time.

The first is what you intend to do with the property. Assuming you don’t want to move in yourself, your options are to:

• Continue to rent the property out. That way, you’ll earn a monthly income and have a long-term investment that you could later pass on to your family.
• Sell the property and use the funds to pay debts, invest or spend how you wish.

Let’s look at what each scenario involves.

Renting out an inherited property

It’s important to understand that there’s more to being a landlord than simply collecting monthly rent.

You must follow hundreds of rules and regulations and ensure your tenants have a safe place to live.

Don’t be intimidated by this. Many accidental landlords – that’s the term for people who become landlords through circumstance rather than design – go on to stay in the private rental sector long term.

But especially in the early days, they get a letting agent to manage their property instead of jumping in at the deep end and drowning in red tape. Having an experienced professional onside to help you learn the ropes can be a lifesaver.

A good letting agent will explain how to inform your tenants that you’re the new owner. (You can’t turn up onsite unannounced.)

They’ll also advise you about landlord insurance, maintenance and buy-to-let mortgages (if applicable).

Selling the property

If you choose to sell, you must decide whether to proceed with the tenants in situ or with the property as a vacant possession*.

There are pros and cons to each of these options.

Conducting viewings can be more complicated with tenants in the property. You need to notify them 24 hours in advance of a viewing, and they can refuse.

And some buyers prefer a vacant property so they can move in on day one without any restrictions.

However, a tenanted property can be an appealing prospect for a landlord looking to expand their portfolio, especially if the tenant is long-standing and reliable.

Also, it means you can proceed with the sale faster as you don’t have to navigate the eviction process.

Don’t rush your sale

You may be tempted to offload to a quick-buy company that offers to take the property off your hands with little fuss.

Be aware that if you go down this route, you’ll most likely get far less than you would by going with a traditional estate agent. While you may feel tired and emotional right now, you might regret short-changing yourself later.

Tax implications

Whether you opt to keep or sell the property, speak to a good accountant or financial adviser.

They’ll explain the inheritance and capital gains tax implications of your decision. And if you rent the property, they can also advise on the most tax-efficient strategies regarding income tax.

If you’ve just become an accidental landlord, contact us here at Chamberlains. We’re here to help.

*Note: You must follow strict procedures to evict the tenants; these rules also apply if you plan to move into the property yourself.

Maintaining a rental property in Teignbridge isn’t just about collecting rent; it’s about safeguarding your investment and keeping your tenants happy and safe.

That’s why regular property inspections are so crucial.

They help you spot potential issues before they become costly repairs and ensure your property remains a place people are proud to call their home.

Here’s the lowdown on the five key areas you need to focus on during your inspections:

• Structural integrity: Let’s talk about the ‘bones’ of your property. Look for any cracks in the walls and ceilings. Also, checking the roof for missing tiles or leaks is a smart move.

• Plumbing and electrical systems: No tenant wants the surprise of a cold shower or a flickering light. Give all your taps, toilets and pipes a once-over for leaks or signs of corrosion. Light fixtures and wiring must also be safe to prevent potential hazards – it’s the law.

• Heating and insulation: Ensure the boiler works efficiently and the radiators do their job. Proper insulation is key to keeping the heat in, the energy bills down and your tenants happy.

• Safety equipment: This is about more than ticking boxes – it’s about ensuring your tenants’ safety. Smoke detectors, carbon monoxide alarms and, if required, fire extinguishers need to be in top working order and up to date with the latest safety regulations.

• General wear and tear: A bit of damage is expected, but you’ll want to watch for anything that’s gone beyond ‘a bit’. Damaged fixtures, broken flooring and any changes made without your permission should be on your radar.

Remember, as a landlord, you must adhere to many rules and regulations that constantly change. These include several laws around property inspections.

The good news is we can help take that load off your mind and handle all inspections, tenant relations and property management for you.

By staying on top of these five essential checks, you’re not just keeping your property investment in pristine condition but also building a solid, respectful relationship with your tenants.

What’s not to love about that?

Thanks for reading. Contact us today to find out more about our property management services.

Being a landlord is rewarding, but it comes with its own set of challenges and responsibilities.

Over the years, we’ve seen and helped solve most of the mistakes landlords can make.

To help you navigate this complex terrain, here are the five most common mistakes we’ve encountered and how to avoid them, ensuring a more profitable and stress-free experience.

• Neglecting property maintenance

One of the gravest errors is failing to maintain the property. This leads to disgruntled tenants and costly repairs down the line. Prevent this by scheduling regular check-ups and addressing issues promptly.

• Inadequate tenant screening

Skipping thorough background checks can land you with troublesome tenants. Conduct comprehensive credit, reference and background checks to secure reliable and responsible tenants. It’s much more professional and less problematic if you get an excellent letting agency to do this for you.

• Not understanding legal obligations

A big one. A lack of knowledge about landlord-tenant laws can result in legal woes. Stay informed about your legal duties, including deposit protection and property safety regulations, like gas and electrical laws, to protect yourself and your investment. Again, a good letting agent keeps you on the right side of the complex and constantly changing compliance rules that govern rental properties across Teignbridge

• Poor communication

Failing to communicate effectively with tenants can lead to misunderstandings and disputes. Keeping open lines of communication and being transparent about expectations from the outset helps avoid issues.

• Ignoring insurance

Landlords often overlook the necessity of having adequate insurance coverage. Ensure you have the correct insurance to cover potential damages, rental voids, legal disputes and liability claims.

The letting agency advantage

To avoid these common mistakes, why not consider the expert services of our letting agency?

We have helped hundreds of landlords navigate the ins and outs of renting out their properties. From finding the ideal tenants to handling day-to-day management, we are here to ensure your rental investment is as profitable and hassle-free as possible.

Contact us today, and let us help you turn your property investment into a resounding success.

After years in the making, it looks like the Renters Reform Bill – the biggest shake-up of the private rental sector in decades – will become a reality in 2024.

So, how much do you know about this wide-reaching set of proposals, and are you ready for them?

Be prepared

Perhaps you’ve read a few articles about the bill but have put off getting to grips with the details (after all, politicians put forward all sorts of proposals, many of which never happen).

Or maybe you’ve taken the ostrich approach, hoping it will go away.

Whatever your response thus far and whatever you think of the bill’s contents, now’s the time to start preparing for its introduction.

Timeline

The bill had its first and second reading in the House of Commons last year. It will be scrutinised further by MPs and the House of Lords this year and is then expected to receive royal assent.

Insiders suggest the bill could come into effect in October; however, with a general election also on the cards (at some point in 2024), nothing is set in stone. Initially, the new legislation will only affect new tenancies.

Main components of the Renters Reform Bill

The bill is still subject to amendment, but here’s a general overview. The bill will:

• Abolish fixed-term tenancies.
• Scrap Section 21 ‘no fault’ evictions.
• Bolster Section 8, beefing up the existing grounds under which landlords can regain possession and adding new grounds for possession. Landlords will have grounds to regain possession if they wish to sell up, move into the property or move in close family. They can also evict on the grounds of anti-social behaviour or ‘when tenants wilfully do not pay rent’.
• Allow landlords to increase rents once a year in line with market rates.
• Introduce a Private Rented Sector Ombudsman.
• Ban landlords from discriminating against people on benefits or who have children.
• Give tenants the right to request to have a pet in the property. Landlords cannot ‘unreasonably refuse’ the request, but they can insist a tenant has pet insurance to cover potential damage.

Implications

The bill undoubtedly represents change. But while some systems and processes will need updating to ensure compliance, proactive and responsible landlords shouldn’t panic.

Conducting thorough reference checks and regular inspections and having a proactive maintenance schedule and good rapport with tenants, remains the best protection.

Here at Chamberlains, we’re available to discuss the bill in more detail with Teignbridge landlords interested to know more.

We’ve already had several landlords get in touch, keen to find out more about how the expanded Section 8 rules will work in practice given the abolition of Section 21.

Contact us to discuss the changes in relation to your specific circumstances.

And we’ll be closely following the bill’s progress through Parliament, so stay tuned for further updates.

Contact us here at Chamberlains to find out more about the Renters Reform Bill.

Did you know that one in ten tenants admit to illegally subletting their rental property*?

The practice is even more common among young people; in a recent survey, 25% of tenants aged 18 to 24 confessed to secretly subletting all or part of their rental.

So why should landlords be concerned about illegal subletting? After all, if the rent still gets paid on time, what’s the problem? Here are a few reasons.

• You have no idea who is living in your property and what kind of illegal or unwise activities they’re undertaking.
• It can breach the terms of your mortgage and invalidate your landlord insurance.
• If your tenant sublets to several people, your property could, by stealth, qualify as a house in multiple occupation (HMO). The council could fine you for not meeting HMO regulations.
• Trying to regain possession of a property can be more complicated and costly.

What are the signs of illegal subletting?

• You notice an increase in the number of people coming and going from the property.
• Mail deliveries spike, including letters addressed to people not listed as tenants.
• The bins are full to overflowing.
• You find bunk beds or mattresses in bedrooms.
• The legitimate tenant is not returning your calls and always has an excuse as to why you shouldn’t pay a visit.

Protect your property

Contract – Ensure your tenancy agreement includes a subletting clause. Some landlords opt to prohibit subletting; others make it a condition that the tenant must get permission first. (For more advice on this issue, contact us to discuss it.)

Raise awareness – About 75% of tenants who admitted subletting in the survey hadn’t checked their lease to see if it was permitted. Regardless of what you think of this reasoning, never assume the tenant has absorbed the finer details of their contract. Have a chat at the start of the tenancy. Explain what constitutes subletting and that it’s a breach of contract. Also, inform tenants that it may invalidate their own contents insurance.

Inspections – Conduct regular inspections to gauge what’s happening at the property.

Reference checks – Carry out thorough reference and credit checks before signing a new tenant.

Build rapport – If tenants consider you a hands-on landlord who responds quickly to issues, they’re much less likely to test boundaries.

Use a letting agent – Having a reputable letting agent manage the property means you’ll have another set of eyes on the ground, keeping check on your investment.

Want to know more about our property management services? Contact us here at Chamberlains today.

* Figures in this article taken from a Direct Line survey, 2023

As a landlord, maintaining your property in top condition is paramount.

It’s your investment and your tenant’s home.

At this time of year, condensation can be an issue. And it can cause mould in your property if ignored.

The good news is we’re sharing six steps you can take to prevent these problems before they become an issue.

Quick fixes

• Ensure adequate ventilation: One of the primary causes of condensation is poor ventilation. Make sure your property has sufficient airflow. Install extractor fans in high-moisture areas like kitchens and bathrooms and encourage tenants to use them. Trickle vents in windows are also an effective way to maintain a constant airflow.

• Maintain a consistent temperature: Fluctuations in indoor temperature can lead to condensation. Encourage tenants to keep a consistent, moderate temperature, especially in colder months, to reduce the risk of dampness.

• Inspect and repair: Regular inspections are crucial. Check for any issues that could lead to condensation. Timely repairs can prevent minor problems from escalating.

• Educate your tenants: Sometimes, lifestyle habits contribute to condensation. To reduce moisture (which could lead to condensation), educate tenants about simple actions like avoiding drying clothes indoors, using lids on pans while cooking, and opening windows regularly (ideally for 15 minutes daily).

Longer term solutions

5)   Investing long term: Consider installing positive input ventilation (PIV) systems, which can significantly reduce condensation by providing constant fresh, filtered air. These can be costly to install, though.

6)   Address insulation and heating: Poor insulation and heating can lead to cold surfaces, creating ideal conditions for condensation. Investing in updated insulation and heating systems can prevent condensation from becoming a problem and make your property more energy efficient.

By taking these proactive steps, you can protect your property from the risks of condensation, ensuring a comfortable living environment for your tenants and protecting the value of your investment.

Feel free to contact us if you have any questions on this or any other rental property-related questions. We’re here to help.

Landlords are often portrayed as Grinch-like characters.

Devoid of fun, lacking humanity and relentlessly greedy.

In our experience, working with dozens of landlords across Teignbridge, this Scrooge stereotype simply isn’t true.

In fact, we often get contacted by generous landlords seeking ideas to spread a little Christmas cheer to their tenants.

So, with that in mind, ho, ho, how’s this for five little things that can make a big difference when it comes to building goodwill and rapport?

• Personalised simplicity

A handwritten Christmas card can go a long way. Tailor each message to show you know and value your tenants. It’s the thought that counts, and this personal touch gets remembered.

• Feelgood festive treats

Everybody loves a goody bag – especially at Christmas. Assemble small bags of seasonal treats like chocolates, biscuits or even a small Christmas ornament. It’s a sweet gesture that brightens your tenant’s day, making them feel good and showing you value them.

• Seasonal upgrades

Consider minor seasonal upgrades to the property – a new doormat or improved lighting for these darker months. It may be your investment / property, but it’s worth remembering it’s also your tenant’s home.

• A winter warmer

Offer a winter maintenance check-up, ensuring heating systems run efficiently and the property is weather-proof. It’s a practical ‘gift’ demonstrating your commitment to your tenant’s comfort.

• Recognition of loyalty

Acknowledge long-term tenants with a token of appreciation for their loyalty, such as a local coffee shop / restaurant / gift shop voucher. It recognises their tenure and supports local businesses – a double dose of festive goodwill.

A little Christmas cheer from landlords can make a big impact.

Whether it’s a personal card, a festive treat, thoughtful property upgrades, a timely maintenance check or a heartfelt token of appreciation, these gestures build goodwill and show tenants they’re valued.

Contact us today to find out how we help landlords find and keep great tenants throughout the year.

As any experienced letting agent or landlord can advise you, ‘expect the unexpected’ when it comes to rental properties.

And that’s why it pays to follow the Scouts’ motto and “be prepared”.

Being prepared for any eventuality can mean the difference between a minor hiccup and a full-blown catastrophe if you’re a landlord.

With that in mind, we’ve created a Landlord Emergency Kit.

Let’s dive into five essentials that can save the day.

• Back-up keys

Locked-out tenants? Spare keys can quickly resolve this common issue. Store them in a secure yet easily accessible place, and always have duplicates for all doors and gates on the property.

• Important contacts list

A printed list of essential contacts can be invaluable, whether it’s an electrician, a plumber or emergency services. Make sure to also have digital back-ups, ideally on your smartphone.

• Basic tool kit

From tightening a screw to securing a loose gutter, a basic tool kit can help. Include essentials like a hammer, screwdrivers, a wrench and pliers.

• Property information folder

Keep an organised folder containing essential information about the property. This can include gas shut-off locations, water mains and electrical fuse boxes. It can also feature your insurance policies, guarantees and tenancy agreements. It’s a good idea to keep this in a printed folder and have a digital cloud version.

• An experienced letting agent

In urgent situations, an experienced letting agent who knows their stuff is the difference between a drama and a crisis. A good letting agent is experienced in emergency protocols and can coordinate repairs or services at the drop of a hat. They’ll have vetted contacts, ensuring you get reliable and swift service. And if you’re in the thick of an emergency, they can be your point of contact for tenants so you can focus on the bigger picture.

With a well-equipped Landlord Emergency Kit at the ready and a good letting agent within easy reach, you’ll have peace of mind and instil confidence in your tenants.

Contact us today to find out how we help Teignbridge landlords maintain peace of mind and keep tenants happy.

The expression ‘safe as houses’ has been used for almost two centuries to describe something that is rock-solid and risk-free.

But thanks to the elaborate efforts of a small but growing number of fraudsters, not even property is as safe as you think.

Since the pandemic, there’s been a steady increase in what’s known as Title Fraud or House Hijacking. This crime involves an elaborate ruse where a fraudster poses as the homeowner (after knocking up fake ID and documents) and sells it to an unwitting buyer.

Often, the scammer targets cash buyers (to avoid scrutiny from lenders) and markets the property at a knockdown price (to push the sale through quickly). They may also ‘encourage’ the buyer to use a specific conveyancer (who is part of the con).

If the fraudster evades all the usual checks and balances that are supposed to flag illegal activity, they make off with a large sum of cash.

When the genuine owner of the property and the ‘new buyer’ realise what’s happened, they face a lengthy legal process to sort the mess out.

Who is most at risk?

Fraudsters target mortgage-free properties that are empty or tenanted. If the property is vacant, it’s easier to arrange viewings without being detected. There have also been cases where a tenant has posed as the owner and put the property on the market.

Protect your property

To safeguard against such events, HM Land Registry is urging property owners to sign up to its free alert service. It only takes a few minutes, and then you will be notified if anyone attempts to change the register for your property.

If you’re a landlord – especially if you don’t live near your property or spend lots of time abroad – do it today.

You can also put a restriction on your title that prevents a sale or mortgage on the property being registered unless a solicitor has certified that you – the rightful owner – made the application.

A further step is to get a letting agent to manage your property and act as an extra pair of eyes on the ground. A letting agent will also conduct regular inspections to ensure nothing suspicious is going on.

For more information about our property management services, contact us at Chamberlains today.