Posts with tag: renting a property

Upad Launches New Find a Tenant Guide for Landlords

Published On: July 28, 2017 at 9:15 am

Author: Em Morley

Categories: Landlord News

Tags: advice for landlords,guide,information for landlords,renting a property

Upad Launches New Find a Tenant Guide for Landlords

Online letting agent Upad has launched a new Find a Tenant Guide for new and experienced landlords.

The guide, published and accessible publicly via the Upad website, is designed to help landlords with 12 steps of the rental process.

The new Find a Tenant Guide was inspired by Upad’s experience in speaking with both new and long-term landlords, and realising that many of them would appreciate a resource that allows them to dip in and out of to focus on what they need to know.

REMEMBER: We offer free and comprehensive guides for landlords on all aspects of lettings law. Access them by signing up for free here: /guides/

Upad’s Find a Tenant Guide covers everything from advertising on property portals to understanding the legalities of tenancy agreements. The guide contains 12 steps, each designed as an introduction to the specific topic it covers.

In addition, it contains interactive calculators and sliding images, with further interactive elements planned to be built in over the coming months.

The Founder and CEO of Upad, James Davis, comments on the launch: “As someone who launched Upad to provide an alternative way for private landlords to find great tenants, I’m proud of our record for providing informative content and webinars to tell landlords everything they need to know about lettings.

“For us, this is a new means of providing key information to landlords in an accessible manner and has been produced based on the feedback of landlords. It again highlights our commitment to providing the best insight and customer service in our industry.”

Landlords, you can access Upad’s new Find a Tenant Guide and explore all of the information that it offers through the Upad website: https://www.upad.co.uk/find-a-tenant-guide

We hope that it helps you understand the lettings process more clearly and answers any questions you may have.

Buyers Save £670 Per Year More Than Renters

Published On: August 24, 2015 at 3:54 pm

Author: Em Morley

Categories: Finance News

Tags: buying a house,cost of buying a house,cost of renting,first time buyer homes,renting a property

Renting a home is £670 more expensive than the cost of buying a home for a first time buyer, according to the Halifax.

Buyers Save £670 Per Year More Than Renters

The typical monthly costs of buying a three-bedroom house in the UK for a first time buyer was £666 in June, 8% lower than the average monthly rent on the same property, at £722 per month.

This contrasts to figures recorded in June 2009, during the financial crisis, when the average cost of buying was 16% more a year, or £1,154, than the average rent paid.

Despite the average price paid by a first time buyer for a three-bed home being 25% higher than six years ago, the monthly cost of owning has dropped, as the average mortgage rate has declined from 4.92% to 2.91%.

Over the same period, the average rent grew by 23%.

However, in the last year, average monthly mortgage costs rose by £40, while average monthly rents increased by just £8.

In cash terms, first time buyers in London have experienced the greatest benefits from buying rather than renting in the past year.

The average monthly cost of buying in the capital in 2015 is £1,338 compared to an average monthly rent of £1,419. This is a 6% saving worth £81 per month or £973 over the year.

Mortgage Director at the Halifax, Craig McKinlay, says: “Looking at monthly costs, the combination of lower mortgage rates and declining rental value over the past six years has made it cheaper to buy than to rent.

“While numbers of first time buyers getting onto the housing ladder in the first six months of both 2014 and 2015 has been over 135,000 – almost double the lows seen in 2009 – the issue of building more new homes in the right places needs to be addressed if we are to see sustainable growth.”¹

¹http://www.readyrentals.co.uk/news/article/2121/buying-now-670-cheaper-than-renting

20% of Britons Not Happy with Their New Home

Published On: July 1, 2015 at 5:02 pm

Author: Em Morley

Categories: Landlord News

Tags: buying a home,moving house,renting a property

New research has revealed that 20% of Britons believe they have compromised when finding a new home, with renters more likely to be unhappy than buyers.

Those that were unhappy cited various reasons, including not liking the neighbours, finding the property too small and considering the upkeep too much work.

20% of Britons Not Happy with Their New Home

The study by AA Home Membership also found that 29% of respondents discovered a lot of problems after moving into their home and the same amount did not get on with their neighbours. 26% admitted to moving into a property because it was affordable, not because they liked it.

Additionally, 25% said that the property was too small after living in it for some time and 21% thought their home needed too much upkeep. For 13%, the property was no longer suitable as their circumstances had changed.

The findings also revealed big differences between homeowners and tenants. 26% of renters had grown less fond of their home compared to 17% of owner-occupiers.

Tenants are also more likely to move into a home that has unexpected problems and not get on with the neighbours. Homeowners are more likely to struggle with the upkeep and have changing circumstances, such as a child leaving home, which makes the property less suitable.

The cost of a home was the most re-evaluated aspect, mentioned by 32% of respondents. 27% said they had to compromise on either the location or the size. 19% moved into a home that needed more work doing to it than expected and 18% had fewer bedrooms than they wanted.

A quarter of those who compromised were unhappy about doing so. Those aged between 18-24-years-old were the most bothered, with 31% saying they were not happy about making a compromise.

Head of AA Home Membership, Helen Brooker, says: “It must be quite disheartening to find that your home is not all you hoped it would be. Some issues such as property maintenance and anti-social neighbours may only become apparent over time, and may not have been a cause for concern when the householder chose the property.

“It’s pretty common for people to have to compromise when looking for somewhere to live, as after all, not many people can afford their dream home. Even if you find your ideal property, the housing market is so competitive there’s no guarantee you’ll get it.

“Others, particularly those who are looking for somewhere to live with a partner, may find that they have different tastes and opinions, and may find it difficult to agree on what they want.”¹

¹http://snip.ly/HTM7#http://www.propertywire.com/news/europe/uk-home-owners-moving-2015070110692.html