Self-management of your property business is as cheap or expensive as you want it to be. In loose financial terms, it is down to the level of your knowledge and the systems you want to use to manage your properties. As we’ll learn in this post though, the costs of self-management go beyond money.
It may well be time to batten down the hatches and prepare for an oncoming housing storm. The Bank of England (BoE) recently released updated guidance suggesting that the UK economy is likely to experience a prolonged recession, with up to five consecutive quarters of negative growth.
Aside from the daily management of your property business that you’ll always be doing, at some point you’ll want to explore how to grow. Business growth is a part of running a property business that is most often overlooked by letting agents.
A gloom has descended over the landlord community, it began when we were treated like no other business and had the interest on business loans/mortgages (which amount to the same thing in our business) excluded from tax exemption – known as Section 24 because it is Section 24 of the Finance Act 2017.
Short-term vacation rentals are a great way to boost your income and with regular bookings, a holiday property can even outperform a standard rental property.
One of the headline policies of the government’s recent Renters Reform Bill has been the proposed abolition of ‘no-fault’ Section 21 Notices. The announcement doesn’t come as much of a surprise, having been first put forward as far back as April 2019. The Conservative government have consistently stated their manifesto commitment to the abolition of […]
In 2022, people are more focused on at-home living than they were pre-pandemic. The surge of remote workers combined with general social anxiety has meant that people are much more interested in properties that can meet their comfortable homebody needs.
On the 16th of June 2022, the government released its long-awaited white paper on rental reform in the UK, titled ‘A Fairer Private Rented Sector’. The report is arguably one of the biggest shake-ups to the private rental sector in over 30 years, advocating wholesale changes to the structure of tenancy agreements, eviction rights and […]
It is safe to say that every self-managing landlord has a system to help them keep on top of their property business. Popular tools range from paper-based systems, through to software, access databases, spreadsheets, or a mix of these. In this post, we’re going to look at the most common management methods used by landlords […]
On July 7th, Boris Johnson announced his intention to step down as leader of the Conservative Party and to resign his position as Prime Minister of the United Kingdom once a new leader has been chosen. Irrespective of who is chosen to become the next leader of the Conservative Party and the United Kingdom, one […]
Almost all landlords now work with online systems one way or another. Whether you have your own website, you email your tenants, or you simply store all of the relevant information on a computer or device connected to the internet, the majority of administrative work can be considered to be ‘online’. Such a reliance on […]
This White Paper starts the process for new legislation leading to consultation and the publication of a Bill that will go through the Houses of Commons and Lords before receiving Royal Assent. In other words, it will be some time before we see any changes and there is still time to make our MPs aware […]
Self-management of a rental property requires excellent organisation and one of the best ways to achieve this is to run your properties like a business.
Conventional wisdom in the UK has always held that it is better to save up to buy your first property than to rent one. The logic being that purchasing a home gives aspirational families security and a stake in society. However, this logic fails to account for the many benefits of renting and the flexibility […]
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