THE ROCHILLS BLOG
Industry News, Advice and Tips from our local Property Experts.Low-Cost, Eco-Friendly Ways to Make Your Home Look Christmassy
If you’re watching your pennies this Christmas, here are some festive decorating ideas that are simple, effective and...
What You Can Expect as an Waltom On Themes Landlord in 2023
It’s safe to say, 2022 has been a year full of change for landlords. The last 12 months have seen more buy-to-let landlords...
What Are Mortgage Overpayments?
Mortgages are dull. Let’s be honest. They’re huge commitments, they’re complicated to arrange and in the current climate, it’s...
Christmas Checklist for Savvy Landlords
For most people, Christmas is a blissful time, a chance to unwind with family and friends and recharge the batteries. But if...
How to Support Walton On Themes Charities This Winter
The month of December is filled with fun, festivities and food for most of us, yet for many others it is cold and lonely. And in...
From Garden Offices to Greenhouses, Changing Property Trends Revealed
If you’re looking to market your home, read on to find out what’s hot and what’s not in the property world. Forget trend...
How to Winter-Proof Your Walton On Themes Rental Property
Here are ten ways to prevent a minor mishap or major disaster at your rental property this winter. For many people, winter...
The Five ‘Rs’ of Making the Most of Your Property Portfolio
A property portfolio is a great way to generate income and build yourself a tidy retirement nest egg. But there’s more to it...
Your Alternative Guide to the World Cup
Can’t stand football? Wouldn’t dream of tuning into this year’s World Cup in Qatar? Here’s a list of four things you can do...
How to Maximise your Budget and Buy Your Dream Walton On Themes Home
Buying a home comes with a lot of dreams, needs and wants, but there’s another consideration, too – budget. Whether you’re...
Why Now Is the Right Time to Get Rent Protection Insurance
The rental market is a tough place to be, especially in the current economic climate. With the cost of living crisis leaving...
Recessions hit everyone right where it hurts: in the pocket. Everyone feels the pinch as prices rise and the cost of living spirals. Homeowners face the prospect of higher mortgage rates and rising bills. But what about landlords? Are they the Teflon of a credit crunch? According to finance experts at Investopedia, landlords not only survive recessions, but they thrive, as renting becomes more appealing than buying in the economic downturn. After all, owning rental properties guarantees them an income, or does it? In this quick read, we look at why landlords aren’t always immune to recessions and ways you can protect your rental portfolio. Check your mortgage Is your mortgage term about to expire? How long do you have left? If you’re lucky enough to be at the start of a low interest fixed-rate buy-to-let mortgage, you can breathe a sigh of relief. If not, it’s time to contact a broker and find yourself the least painful deal. A sure-fire way to lose out is to ignore your mortgage and be forced to renew when rates are at their highest. Insure against rental loss Hopefully, you’ve already got comprehensive landlord insurance which provides rent protection, but if you don’t, a recession is the right time to get it. Rent protection insurance will pay out in the event your tenant fails to pay – protecting your income and, more importantly, covering your monthly mortgage payments. Work with a letting agent As rental demand surges, you’ll need a good agent to manage the viewings and reference checks that help secure the best tenants for your rental property. Agents take on the finer details of a tenancy agreement and can offer advice during the letting process. Use their experience to bag yourself reliable tenants. Don’t get greedy While you may be contemplating a rent rise to cover increased costs, remember that setting your rent too high could increase the risk of a tenant defaulting or a tenancy ending abruptly due to financial pressures. Take a cautious approach to annual rent rises; it’ll pay off in the long run. Be reasonable If a tenant fails to pay their rent on time, find out why. What’s the problem? If they’re a long-term and previously reliable renter, can you respond in a calm and measured way? Eviction is not an easy route to take. Speak to your agent to see what advice they offer and how they would deal with the matter. If you’re a landlord and need a reliable letting agent, contact NAME so we can find you the right tenants.
Recessions hit everyone right where it hurts: in the pocket. Everyone feels the pinch as prices rise and the cost of living...
