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  1. Property prices have been racing ahead for a number of years now. A slowdown is due, perhaps this will trigger a healthy pause
  2. I contacted my tenants yesterday and they agreed to the rent rise. However, they asked me to be flexible on the commencement date of the rise. I wanted September, they wanted November due to work related issues. They are good tenants and have been in the property a while so i agreed November. We also agreed that I take the rent increase for September and October out of the deposit when the the rental agreement is terminated. Not ideal but everyone is facing cost of living difficulties right now and it makes sense compromise and find a solution
  3. Hi, I need a little advice I have a 1 bed flat in London currently let on an Assured Shorthold Tenancy Agreement since 01/08/2021. I've checked rents for similar properties, which is easy to do. My flat is in one of a few blocks in the immediate area. Rents have increased quite dramatically since the beginning of the tenancy agreement. I wish to set the rent now at the market price which means an increase of 8.3% from 01/09/22. I haven't increased the rent before. I've looked through the rental agreement, which is a standard agreement but i can't see any mention of rent increases. I don't foresee any problems with the tenant but want to make sure i'm on a legal footing before i inform them. What's the law here? How much notice do i have to give them of an increase? Thanks and regards Assured Shorthold Tenancy Agreemen Assured Shorthold Tenancy Agreemen
  4. Why not use an assured shorthold tenancy and then it can just roll over?
  5. Generally speaking i'm not a fan of ground floor flats but it does depend on the layout of the building. Ground floor can be noisy, everybody passes through there and sometimes congregate there. Main entrance, lifts, mailboxes, bin room etc. Security issues as mentioned. Some buildings offer more outside space/small garden to ground floor flats, worth considering if that's the case. No added fire risk on ground floor. Higher floors better vIew if there is one. If the building doesn't have a lift i'd avoid 2nd floor and above. Each building needs to be considered on it's merits
  6. Check on Rightmove and Zoopla for flats in your area as well. If the market is big enough for unfurnished properties there then landlords would be offering properties accordingly.
  7. I'm sure ladies attach more importance to the bathroom than men when choosing a place to live. I have a dressing table in the bedroom which a previous tenant used to sit at and apply make up. I'd like to hear from any ladies with their views...in fact any insights on how to make a property more female friendly...they are after all potentially 50% of the market. Things a landlord could include (or even exclude) that women might appreciate Cheers
  8. Thanks for the reply, I’m glad I got a female response. My market is mainly young professionals and not families, for which no bath would be impossible. I also agree most young professionals wouldn’t have an issue foregoing a bath for well appointed shower but I wasn’t sure about female tenants. I was thinking perhaps enough of them would prefer to have a bath than men? Strange, a bath is a very British thing. Having spent most of my life living and working abroad I have lost the habit. Most one bed flats I’ve seen overseas have shower only...far more sensible to my mind
  9. Hi, i've moved back into my rental property, a one bed flat in docklands, London until the current situation settles down. I've taken the opportunity to do a few jobs around the place. I'm in the process of changing floor tiles in the bathroom and have always fancied the idea of a walk-in shower. I'm fed up with stepping over the bath to take a shower, in fact i've never used the bath...i'm sure i'm not the only one! I'm thinking of removing it and installing a walk-in shower, while i've got the tiles up. I can do most of the work myself to reduce costs. The bath is a little dated but still okay for a few more years yet. Of course, the longterm plans are to return the flat to rental and my personal preferences are not the real issue. So how do others think a new walk-in shower only would effect rentals? Cheers
  10. I bought a house in Milton Keynes back in 1980. MK was a huge new town project with development that went on for decades and still going on now. This didn't stop all property prices rising over the years. Buy in a good location keeping in mind the towns future plans. But always remember, life doesn't come with a guarantee
  11. ...agreed but i'd go further. If at all possible don't simply rely on an agent to source tenants, meet them yourself and use your gut instincts.
  12. Also watch "The Big Short', currently on Netflix for an insight to the scale of the scandal...
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