It is tough when you’ve lost a loved one and then have to work out what to do with the home they leave behind. Should you sell the property? Buy it yourself? Rent it out for a while or the long term?
Benefit claiming tenants! I will not accept this type of tenancy.... or should I? Most new landlords tell me they would refuse an application for a tenancy from a benefit claimer. What’s the reason behind this? When I ask them why, they are unable to give any detail, the decision in my opinion is an emotional one based on perception not facts.
Despite the number of people buying a home falling by half in the last 12 months, we have heard little about a different property market that has rocketed from a volume perspective and is currently signalling a rise in prices is on the way. This year it’s estimated that the private rental sector will top (two million people) in comparison to the number of people buying (and selling) a home which has fallen to only 6-700,000.
With business for letting agents booming while income from estate agency has plummeted in the last 12 months, it’s important for both landlords and tenants to be aware that letting agents (unlike estate agents) are not regulated and although there are some great letting agents out there, there is the potential for them to run off with YOUR cash!
When investing, most people concentrate on the ‘deal’ they are getting and whether it works in today’s market. However, since the property price falls of 2007 left many investors who wanted to cash in for their retirement in dire straits, and with the demand and supply of property likely to change in the future due to demographics, it’s essential to have a good idea of when is the right time to sell your investments.