It is good practice to have a detailed and accurate inventory completed at the start of the tenancy, and again when the tenancy ends. If the tenant has agreed the inventory at each stage, this reduces the potential for a dispute to arise at the end of the tenancy. More...
A well prepared inventory, which records the condition of the property with written notes, photographic evidence, as well as details of the contents, including fixtures and fittings, helps the landlord enjoy a much more risk-free tenancy, owed in part to the fact that it will help in supporting a potential claim on a tenancy deposit, if a disagreement arises.
The number of portfolio landlords is increasing. In 2018 one in every six landlords had a portfolio of five or more properties, up from one in 20 back in 2010. It is estimated such landlords now account for virtually half of all tenancies.
In comparison, the number and influence of single property landlords has decreased. In 2010 three-quarters of landlords had just one property, today that figure is less than half. In 2010 such landlords were responsible for 40% of all tenancies, today it is just 21%.
Most of you will be aware of the impending Tenant Fee Bill which comes into force on the 1st June 2019 however this piece of legislation isn’t just about the fees tenants pay agents or landlords. The legislation will also see a cap to the amount of deposit the tenant has to pay which will be the equivalent of 5 weeks rent.
This will mean that for any tenancy which is entered into after the 1st June 2019, this includes tenancies that are renewed on a fixed term basis, they must have a deposit no more than the equivalent of 5 weeks rent. More...
I am pleased to announce Jordana Brown joined the Julian Wadden Property Management Team earlier this month as Relationship Manager.
Jordana joins us after working in Lettings in the city centre and we are delighted to have her on board.
Our growing Property Management Department is based in Heaton Moor with all the team ARLA qualified or working towards their qualification. With ever changing legislation we offer ongoing training and development to the team to ensure they are best placed to look after your investment!