With increasing numbers becoming part of the private rented sector, growing numbers of new landlords are following suit, often without any relevant experience or ample knowledge behind them. Yet in a sector where “I didn’t know” isn’t an excuse and regulative demands seemingly ever-changing, it’s imperative that all those in the buy-to-let market know the letter of the law when it comes to their properties.

Neil Woodhead, Founder of Ready Rentals, an online resource that provides self-managing landlords with the tools and support needed to deliver a professional and legally compliant service, gives an insight into ‘Five 2015 Regulation Alterations’ set to drastically impact upon the private rented sector this year:

1. Right-to-Rent

“As of 1st December 2014, landlords in Birmingham, Walsall, Sandwell, Dudley and Wolverhampton can now face fines of up to £3,000 if they fail to determine whether their tenants legally have the right to live in the UK before granting a tenancy. The new legislation deems that they carry out the appropriate immigration checks, or ‘right-to-rent’ checks first or risk receiving a fine of up to £3,000.

If these trials are successful, the new measures could be rolled out across the rest of the country as early as March/April this year. With the 2011 census records showing that over 1.5 million people living in private rented housing have no passport, campaigners not only fear that this added bureaucracy could drive up illegal tenancies, poor housing conditions and discrimination, but it could also mean that tenants lose access to housing, simply by not having the proper identification. It is, however, imperative that all private landlords follow these rules and we wait with baited breath to see if the scheme becomes law throughout the entire country.”

2. Stamp Duty

“In his autumn statement, George Osborne unveiled a major overhaul of the stamp duty system. These changes should, in theory, mean that private landlords are paying lower costs when purchasing investment property in 2015. Hopefully this move will attract more landlords to the market and, in turn, encourage existing landlords to expand their portfolios too.”

3. Selective Licensing

“Selective Licensing is intended to address the impact that poor quality private landlords and anti-social tenants have on the market. Areas covered by such schemes require landlords to obtain a licence and those that fail to do so could face a fine of up to £20,000 and sometimes even the authorities taking control of the property.

Though a 2013 poll by Paragon Mortgages found that 74% of landlords thought that selective licensing would deter new landlords to the industry, this was overlooked by the Government and the scheme was first introduced by Newham council. Whilst there have been instances of the scheme failing – in December 2014 a High Court judge quashed a selective licensing scheme that Enfield Council was seeking to apply to the whole borough, ruling that the local authority had failed to consult those outside the area who were likely to be affected and failing to consult for a sufficiently long period – many local authorities have adopted the scheme.

Sheffield, Croydon, Rotherham, Brent, Waltham Forest, Liverpool, and the Wirral will all go ahead with selective licensing schemes in the first half of 2015 and with the passing of the Housing (Wales) Act 2014 making it a mandatory requirement for landlords and letting agents in Wales to register in order to let and/or manage property, it is important that landlords check their local council’s website to find out whether a selective licensing scheme is in place or if a HMO licence (House in Multiple Occupation) and what type is needed.”

4. Water Debt

“There is now a legal obligation on all landlords with properties in the Welsh Water (Dwr Cymru) and Dee Valley Water areas to share certain data about their tenants with their water company. After 21^st January 2015 if landlords within these areas fail to supply the relevant information for their existing tenants they could find themselves jointly liable for their tenants’ water debt. One to watch out for anyone owning and renting out a property in Wales this year and going forwards.”

5. Universal Credit

“Affecting 1.6 million tenancies, Universal Credit is now a feature of almost 100 Jobcentres across the UK and is set to be in one in three by Spring 2015. Bringing together six benefits and tax credits into a single monthly payment, this welfare reform aims to provide a simplified means-tested benefit system, providing an income to those out of work, as well as those on low incomes.

Critics argue that the benefit cap could harm larger families, force people to move to poorer areas (increasing ‘low-income ghettos’), make it much harder for benefit tenants to enter the private rented sector and penalise those who do not have access to and/or the skills to pursue an online application, thus creating more debt and homelessness in the process. Only time will tell whether the reformed welfare system is working or not along with whether there will be further delays, felt previously due to the new IT systems involved.”

Subscribing to a system such as Ready Rentals will support private landlords with all these legislative changes and more, including: main portal marketing, automated creation of all the documentation needed to successfully manage a property, advice on all procedures, notifying utility companies of changes, notification of anniversary dates, an income and expenditure log, as well as a legal and financial helpline and a weekly newsletter rounding up weekly news in the industry, Ready Rentals provides everything needed for private landlords.

For more information about the Ready Rentals service for private landlords and how it can support new and existing landlords, available from just £20 per month (including VAT), visit www.readyrentals.co.uk or call 0141 212 9120.  

The government’s proposed pension reforms, coming into play from April 6^th this year, are set to radicalise the property industry, with many on the brink of retirement looking to the sector as a way of keeping them in the lifestyle they are accustomed to once they reach retirement age. The financial freedoms the reforms allow mean that increasing numbers are purchasing property for buy-to-let purposes, joining the growing numbers of private landlords.

Neil Woodhead, Founder of Ready Rentals, an online support service for private landlords, and long-time industry expert, at the helm of letting agent Castle Estates in Glasgow, explains that this is a trend that they are certainly witnessing,

“In recent months we have certainly noticed a greater interest from those approaching retirement in becoming a part of the buy-to-let market in response to the new legislation. Some of these ‘silver’ clients are looking to release money from their pension and others have had money tied up in bonds that are coming to an end and, with the increased talk around the growing private rented sector and the potential therein, many are looking at this as a new approach to funding their retirement years.”

Other silver buyers are approaching the buy-to-let market from another interesting angle when it comes to funding their retirement – these are creating a ‘piecemeal portfolio’, having previously purchased a single large buy-to-let property and, in light of the changes in the market, are diversifying their investment by selling the property to purchase two or more smaller rental properties instead.

The reasoning behind this move is a decision to purchase cheaper properties in areas where long-term capital growth is not as substantial but shorter-term rental yields are.

Neil Woodhead explains that this is a new emergence in light of the imminent pension changes,

“One client has sold a modern flat for £160,000 (originally bought for £110,000) and has now purchased two single bedroom flats in a cheaper area instead for £28,000 each. This move has ensured that his rental per month has in fact grown from £550 per month to a figure of £730 per month.

“Upon retirement he originally had the view to sell the property and reinvest in a pension fund but instead took the option to change tack. In reality, when it came to retirement he could see greater benefits in looking for regular rental income rather than longer term capital growth and his story provides a good example of how those of retirement age are now looking at bricks and mortar differently.”

It certainly seems to be a growing trend. A recent survey by Platinum Property Partners revealed that a third of those heading for retirement are considering purchasing a buy-to-let property or properties. The current shortage in available rental stock is set to continue, with even the growing number of private landlords unable to make up the shortfall anytime soon, therefore providing great opportunities for those looking to enter the industry in 2015.

Yet it is not without its pitfalls. It is often all too easy for new landlords, retirees or otherwise, to overlook the added costs of operating in such a sector, something that differs substantially to an investment in stocks and shares for example.

Ongoing repair bills, the correct vetting of tenants, putting procedures in place to ensure everything is managed efficiently and keeping up to date with ever-changing legislation and legal requirements means that too many will fall fowl to the perils of naivety and inexperience.

Neil Woodhead has the following tips for those on the brink of retirement and looking to join the buy-to-let sector in 2015:

• “A buy-to-let investment is not one where you can simply sit back and watch your money grow. Whilst there is potential to generate a healthy retirement income, it is important to be realistic and ensure that you factor in the additional costs you will have to incur when managing a property. Do your sums in advance!”

• “Make sure you don’t fall foul of legal requirements. The buy-to-let sector is a regulated industry that can appear daunting to even the most experienced of landlords. Using a service such as Ready Rentals to self-manage your property will make sure that you keep abreast of any legislative changes and don’t encounter legal problems along the way. Everyone wants a stress-free retirement!”

• “When choosing precisely where to purchase your property, the best location may not necessarily be on your doorstep. Whilst there are obvious benefits of buying close to home, you may find that looking further afield can offer greater rental yield opportunities. Even if it is not somewhere that you would choose to live yourself, that is not a concern, remember that this is an investment for arguably the most important time in your life. Do your research thoroughly!”

For more information about the Ready Rentals service for private landlords and how it can support new and existing landlords, available from just £20 per month (including VAT), visit www.readyrentals.co.uk or call 0141 212 9120. 

2014 has been a year of great change for private landlords. With the private rented sector taking more responsibility for the provision of housing in the UK, as many continue to struggle to get a mortgage with the high deposits needed to secure a home and more and more concerned about rising house prices, the sector will come under ever-greater scrutiny come the New Year.

In fact, as the dawn of 2015 looms, greater transparency will be demanded of landlords and it is even more key that they keep abreast of changing legislation as well as the condition of their properties as winter takes hold. With this is mind, now is the time for landlords to make their very own New Year’s resolutions and plan for a prosperous and stress-free future in 2015 and beyond.

Neil Woodhead, Founder of Ready Rentals, an online resource that offers self-managing landlords with the support to provide a professional and legally compliant service, gives his suggestions for 7 resolutions that private landlords should keep this New Year:

1. Don’t forget your anniversary!

When is your gas safety, electrical, flue and PAT testing due? When is your insurance up for renewal? Miss the dates and you could end up being prosecuted, so it is important that you keep a close track of all anniversary dates. Logging them with Ready Rentals’ online support system means that you will be notified well in advance of upcoming dates and reminded weekly thereafter to ensure that nothing is overlooked or forgotten. Now if only there was a similar system for your wedding anniversary!

1. What’s your policy?

Does your insurance policy cover accidental and malicious damage, letting to unemployed tenants, 30-days void occupancy levels and loss of rent, or does it have a minefield of exclusions in the small print? If your policy is not yet up for renewal, make sure this New Year you have a good look at your current documentation and ensure that you are fully covered. If and when it is due for renewal and you’re looking around at other policy options, make sure you read everything thoroughly as it could mean the difference between a payout and a huge headache!

1. Have a thorough MOT!

When did you last inspect your rental property, check meter readings for adverse usage, assess general wear and tear or damage and update your inventory? While you have a bit more free time, start planning arrangements to visit the property in the New Year to ensure everything is up-to-date and there’s nothing that needs addressing.

When was the last time you checked for condensation and were the tenants advised of how to deal with these issues to reduce the risk of damage to their health and your property? Do the smoke alarms and CO2 detectors work? Are all the appliances functioning and have any unauthorised alterations to the property or fixtures been made? This can all sound very daunting but can be made far simpler with the use of templates that can be populated online.

1. Keep tenants cosy this winter!

Make sure you are providing systems that are operating successfully to ensure that your tenants are warm as the weather turns colder when January hits. Has your boiler been serviced and all your pipes and radiators checked for leaks? And do you have emergency cover in place in case of any emergencies? Make sure you also check that your loft insulation is up to current standards and consider additional measures to reduce draughts and increase the ability of your property to hold heat. All this makes a more comfortable home for your tenant, important measures for ensuring long-term rental and energy-efficiency.

1. Are you on track?

Check your current tenancy documentation is up to date and that it takes into account the changes brought about by recent legal cases and alterations in government policies. Make sure they comply with the correct notice periods and tenant deposit rules. Legislation is something that is not static for long, especially when it comes to the private rented sector, and therefore staying on top of any changes or alterations is key to staying within the bounds of the law. Ready Rentals can help by providing regular newsletters to landlords registered with the system, they will be notified of any changes and the online documentation updated accordingly.

1. Make the most of your assets!

First impressions count and whilst many make the resolution to join the gym and exercise regularly come the New Year in the pursuit of the perfect physique, the private landlord should be looking to the improve the appearance of their property, especially when it comes to marketing it to prospective new tenants. Ensure that the property is presented in a professional manner, whether it is de-cluttering if it is furnished, trimming back hedges, redecorating to make sure walls and skirtings are clean and neat or fitting new handles to doors.

Whilst being supported by a regulated agent, make sure that you have good quality photographs to show off your property and use a range of property portals to market and secure as much interest as possible from renters.

1. Become more eco-aware…

This may seem a long time away but by April 2018 new legislation will have a significant impact on properties with an energy rating below grade E and if Labour gets into power they are proposing an increase to grade C. If your properties do not meet these minimum levels you will not be able to make them available to let, so as we head into 2015 now is the time to budget for and programme any works required to raise your property’s standard.

To add further pressure to private landlords, from 1st April 2016, private domestic tenants will be empowered to request consent for energy efficiency measures that may not unreasonably be refused by their landlord. Now is the time to become more ‘green’ and look at what you can do to improve your property and in turn help the planet.

Don’t make resolutions you can’t keep this year, treat yourself or a private landlord-loved one to a Ready Rentals subscription this Christmas to ensure you are one step ahead going into 2015. The perfect last minute Christmas gift, usually £20 per month including VAT, Ready Rentals are offering a 15% discount for a limited number of landlords this Christmas time. See here for more.

For more information about the Ready Rentals service for private landlords, visit www.readyrentals.co.uk or call 0141 212 9120.

Even as winter descends on the UK, with coats being pulled tighter against freezing winds and noses turning nippy with the onset of frosty mornings, seaside resorts are hot for buy-to-let investors.

Data released by international bank HSBC has shown that the top two ‘Buy-to-Let Hotspots’ in the United Kingdom are both by the sea – Southampton and Blackpool. Resort towns are hugely popular summer-destinations, especially with the recent trend for staycations and, coupled with the increased residential demand created by a desire of many to live by the sea, rental demand is high.

This was reflected in the HSBC results that showed landlords in front-runner Southampton to be raking in epic gross rental yields of 7.82% (with average property prices standing at £138,311 and average monthly rentals being £901), with second place Blackpool following closely behind, averaging a 7.81% yield from average monthly rents of £494 and average property prices of £75,943.

Proving that there is money to be made by buying beach-side, the results from the HSBC research are noteworthy given the general assumption that the most money is being made on London’s ‘streets paved with gold’, whereas, in fact, the high rental rates fail to match the giddy heights of the capital’s property prices, leading to lesser yields than elsewhere in the UK.

And it is no longer simply those who are lucky enough to live ‘beside the seaside’ who are investing in property at the beach, the growing trend of the remote landlord proves that more and more people are making their buy-to-let investment away from their local area, beachside or otherwise.

Residential letting agency, Castle Estates Residential Letting Agents in Glasgow, active for a decade in the local property area, have released statistics of where their registered landlords are coming from and the results make for interesting reading.

A staggering 67.6% of Castle Estates’ 267 current landlords are remote, i.e. not resident themselves in the area where the property is located. Of this figure, 52.3% are UK-based but not local to the area and 15.3% are from overseas.

Neil Woodhead, Founder of Castle Estates Residential Letting Agents, says,

“We have certainly seen the growth of the ‘remote landlord’ in recent years, with landlords now registered from places as far-flung as Australia, Thailand, Switzerland, South Africa, and Canada – not to mention Surrey, Berkshire, Essex, West Sussex and London – still a long way off when you’re based in the West Central Lowlands!

“And this trend is set to continue with the recently announced pension changes and the additions just given in the Chancellor’s Autumn Statement, with more people likely to invest their released pension pot in property than ever before. These people will be looking around for where best to invest and many will see that this is outside of their own region.”

From his background in the industry, stretching to over 35 years in total, Neil Woodhead has recently launched Ready Rentals, an online system that provides self-managing landlords with the support to provide a professional and legally compliant service. A service that is particularly pertinent to remote landlords, as Neil explains,

“Managing property can be difficult at the best of times, but for a remote landlord, things can be even tougher. It is important that you have support services and structures in place to ensure that you keep up-to-date with changing legislation and the important paperwork that comes with being a landlord, not to mention dealing with any issues that may arise in a timely and professional manner. The Ready Rentals service can help with all these things – and more.”

Offering a wide range of support systems all in one place, from main portal marketing, automated creation of all the documentation needed to successfully manage a property, advice on all procedures, notifying utility companies of changes, notification of anniversary dates, an income and expenditure log, as well as a legal and financial helpline, Ready Rentals provides everything needed for remote landlords.

And being an online service, the system is accessible from all around the world for landlords of properties in England, Wales and Scotland. RICS regulated and available from just £20 per month including VAT, Ready Rentals is the Christmas must-have for all landlords, remote and otherwise.

For more information about the Ready Rentals service for landlords, visit www.readyrentals.co.uk or call 0141 212 9120.

The Scottish rental market is booming, as new figures released by lettings agent network, Your Move, have revealed.

Whilst the UK rental sector is currently witnessing growth overall – 41% of landlords surveyed by Paragon Mortgages said that they thought demand was growing – the Scottish market specifically is far outperforming that of England and Wales, registering a 2.2% increase in average rental prices year-on-year, from £526 in October 2013 to £537 in 2014.

The ‘Scottish Buy-to-Let Index’ has shown that this compares favourably to England and Wales’ 1.5% average rental price growth over the course of the last year. In fact, Scottish rental rates have been moving in the right direction for landlords since October 2011, when they stood at £507 on average. This figure, 5.9% lower than today, has increased each year since to the healthy figure of today, figures that the report says ‘are currently rising faster on an annual basis than across seven other UK regions’.

Neil Woodhead, Founder of Ready Rentals, an online resource that provides self-managing landlords with the support to provide a professional and legally compliant service, and himself a Scotsman, explains what might be causing this discrepancy,

“With the Referendum uncertainty behind us, there is now an increase in tenant demand in Scotland, along with additional instructions from new and existing landlords. With the majority of landlords non-resident, purely buying as investors, in light of the recent clarification of the Scottish Government’s new powers, it is anticipated that increasing numbers will now have the confidence to invest for the future.

“This is not only true for domestic landlords, but buyers from outside of Scotland will more and more be looking to the far north in coming months too. This will be sparked by both the new pension changes in place and also the lower property values, stronger demand and growing rents in relation to the rest of the UK. Uncertainty of the outcome of the May 2015 elections may well also create a slowdown in the English market which can only benefit Scotland further.”

The impact of the improving figures has led to a total annual return for a Scottish landlord on an average rental property of 8.9%, up from 4.2% in October last year. Whilst undeniably impressive, these figures are down marginally on the peak figures of June 2014, when total return stood at 9.4%. It is therefore important for landlords to continue to consider what they can do to make the very most of their property, their investment asset.

Neil provides his top tips for private landlords to maximise the return on their investment:

• Follow the market closely to identify future growth areas. For example, new companies setting up in new areas requiring incoming workers and in turn accommodation, the development of new hospitals, Government relocations.

• Compare your property with local competition. Well maintained, decorated and up-to-date properties are always more desirable and tenants will be willing to pay that little bit more.

• Do not assume that the best returns come from ‘executive flats’. Many tenants have children who are looking for long term rentals, front and back doors with gardens close to schools. In many areas these properties generally cost less to purchase but achieve higher rents.

• Do not advertise too soon before becoming available, 4-5 weeks maximum otherwise your property will slip down the rankings on major portals and give the impression there are issues with the property. Many potential clients also search for properties uploaded within the ‘last four weeks’

• Look on your income not as a rent per month but annually. I know of many experienced landlords who offer quality properties at slightly lower rents but usually let them very quickly to quality tenants who stay for a longer tenancy. Their void periods are reduced to a minimum and annual income is therefore increased.

• Consider whether you could rent to tenants with pets – very few landlords are providing suitable accommodation and therefore this can command a premium.

• Ensure your property is up-to-date with all the required media channels. A property without Skyplus or poor mobile signal will be an important issue these days for those looking to rent.

For more information about Ready Rentals visit www.readyrentals.co.uk or call 0141 212 9120.

British Gas have recently revealed that 49% of people aren’t looking forward to winter, with many worrying about whether their home will hold up to the freezing temperatures, heavy rain, strong winds, and potential snowfall that the coldest season of the year brings.

Because of this, and with a growing number of private landlords in the UK – the sector is predicted to constitute £1 trillion worth of property come spring 2015 from a figure of £930.7bn today and just £262.1bn in 2001, according to the Office for National Statistics – it is important for landlords to make sure that their properties are fit for purpose this wintertime.

Ensuring not only that the property itself is going to stand up to the elements but also that, in turn tenants are comfortable and secure, Neil Woodhead, Founder of Ready Rentals, an online resource that provides self-managing landlords with the support to provide a professional and legally compliant service,highlights five tips that every landlord must-read in the run-up to winter:

1)      Undertake external building inspections

External defects can quickly damage a property, especially in winter. Make sure you carefully check all outside walls, windows, doors and roof for damages and any signs of weakness. Replace any cracked tiles and inspect chimney pots if the property has them, fitting ventilated cowls to unused chimneys. Ready Rentals can help by providing templates that landlords can use to regularly inspect their property and produce written reports.

With British Gas showing that 8% of those surveyed were concerned about the damage caused by overflowing gutters, and the ensuing affects potentially causing knock-on effects for the building, it is essential that you clean gutters, fix running overflows, remove moss and repoint any defect pointing.

2)      Test heating systems

Has your boiler been serviced for winter and all your pipes and radiators checked for leaks and bled for airlocks? 46% of those asked by British Gas were worried about the heating or hot water failing during the colder months.

This is as, if not more, important if your property is lying empty or if you are remote from the property. If you have left the property without a resident, make sure that you arrange to drain the system down, along with all hot and cold water pipes. If you are remote from a property especially, ensure that you have emergency cover in place to cover breakdowns, an essential service for the tenant if you cannot contact a contractor quickly.

3)      Keep an eye on insulation

Check that your loft insulation is up to current standards and, depending on location, grants may be available to upgrade it. Ready Rentals provides up to date information on changing legislation for landlords and ensures that all legal requirements are being met.

Consider cavity wall insulation, double or secondary glazing, and lagging pipes in void spaces. To reduce draughts, making living conditions more comfortable for those in the property, check pointing of door and window frames, apply sealant to skirting boards and fill gaps in wooden floors. All of these measures will protect your home, ensure it is more environmentally sound and help your tenant save money on their heating bills. The Ready Rentals system assists in this by allowing landlords to arrange maintenance and repairs online with professional and regulated companies.

4)      Be aware of flooding risks

British Gas have revealed that 1 in 10 people have worries this winter about flooding because of burst pipes and landlords can put measures in place to make sure this is an unlikely occurrence. Burst pipes can cause significant flooding and serious damage to a property and no-one wants to have to face this in the midst of winter. Make sure that you don’t allow pipes to freeze – protect exterior pipes with insulation sleeves if possible to help prevent this.

5)      See to outside paving

In very cold weather water on paving slabs will freeze. This can not only be dangerous for tenants and anyone visiting the property but could also raise insurance issues and possible compensation claims against private landlords if someone injures themselves on the ice.  Ready Rentals provides a helpline to landlords who have general, legal or financial queries, relating to anything they may require guidance on.

In the instance of paving, it is important therefore to ensure that all paving is well-drained so that it avoids the collection of water that will stand and freeze, creating treacherous conditions.

Taking into consideration these simple tips, all landlords can have a happy and stress-free winter, knowing that they have protected their property and created a comfortable home for their tenants.

For more information about the Ready Rentals service for landlords – that costs from just £20 per month including VAT – visit www.readyrentals.co.uk or call 0141 212 9120.

• New essential landlord service, Ready Rentals, reveals what landlords should be doing to step up to the mark
• 54% of tenants claim transparency is most important in relationship with landlord (‘The Tenant Survey 2014’, Knight Frank)
• Ready Rentals provides all documentation and support needed to keep tenants happy

With the buy-to-let market celebrating its 18^th birthday since its inception in 1996, this year sees more people than ever renting property privately, overtaking those forming part of the social housing market.

And yet it is not just the numbers that have evolved in that time. What people expect from their rental property, and in turn their landlord, has also changed over the years. In light of the release of Knight Frank’s ‘The Tenant Survey 2014’, drawing into focus what is important in the sector today, new essential landlord service, Ready Rentals, has responded with what landlords should be doing to step up to the mark in 2014 and beyond.

The Knight Frank survey of over 3,500 tenants across the UK, one of the largest ever undertaken in the industry, investigated what is wanted from a lettings agent, with those renting claiming that transparency is most important, with clarity over charges and deposit costs being of vital importance (54% of those surveyed put this top of their wish-list).

Whilst the government-backed tenancy deposit scheme offers legal protection for the money tenants put down, Ready Rentals– an online support system for private landlords that ensures they provide a professional and legally compliant service – takes this important notion further, by supporting landlords with the often daunting paperwork and the setting up of rental agreements. The system offers automated creation of all the documentation needed including tenancy agreements and notices, directly addressing the need of tenants to feel secure and reassured.

Neil Woodhead, Founder of Ready Rentals, explains the importance of this,

“Private landlords come in all guises – they may have purchased property specifically with the aim of renting it out as a business venture; they may have inherited a home that they do not wish to sell for all manner of reasons thus becoming an accidental landlord; they may be waiting for the right market or personal circumstances in which to sell and desire to make a return in the meantime, a temporary landlord.

“Yet whatever the reason someone becomes a private landlord, it is essential they ensure that they are transparent in all they do in relation to their tenants, Tenants need to feel that everything is covered, seamlessly, and that they are not being taken advantage of and engendering a good relationship between landlord and tenant will be mutually beneficial in the long-term.”

Given the fact that the Survey also points to affordability as being the key factor for tenants when choosing a rental property (65% of those surveyed put this as their priority), Ready Rentals has recognised that private landlords must consider the positioning of their property within the market, so that they are balancing profitability with affordability, and that this is kept a check of along the way.

Ready Rentals has responded with the provision of an income / expenditure log, taking into account how much is being spent on the property and in turn how much is being made, whilst advising that, alongside, landlords monitor the local property market for trends of deterioration and fluctuation.

Interestingly The Tenant Survey 2014 also revealed a move towards longer-term renting with 32% liking the flexibility that renting provides and a growing number unable to afford to buy, 36% said they would be renting for over two years.

Within this context, an important facet for landlords to contemplate, how to sustain the satisfaction of tenants over an extended period of time, is also addressed by Ready Rentals, by ensuring that landlords are up-to-date with changing legislative demands. Providing instant access to all the statutory regulations that they must meet, which – especially long-term – can seem to be continually evolving, Ready Rentals offers much-needed support to all landlords when facing this often confusing minefield.

As Tim Hyatt, Head of Residential Lettings at Knight Frank explains, the future success of the industry hinges on just this thorough approach by landlords,

“The rising significance of the private rented sector is creating many opportunities for investors, especially as we are starting to see the advent of large-scale professional landlords. In order to make the right investment decisions, finding out what tenants want and need is crucial.”

Ready Rentals is central to this success, affordable and accessible, it addresses these and many other issues faced by private landlords, and in turn their tenants, ensuring that the service provided is legally compliant and seamless, and in turn profitable and hassle-free for those renting out properties.

For more information about Ready Rentals visit www.readyrentals.co.uk or call 0141 212 9120. 

• New legislation to dictate that private landlords must check tenants’ immigration status before agreeing rental
• Pilot scheme to take place in West Midlands from December, rolling out to rest of UK in 2015
• New Ready Rentals system to support private landlords with legislative changes

A new service, launched today, will address the controversial issue of making private landlords ‘passport police’, as new legislation comes into play in the private rental sector.

Ready Rentals, a new online support system for private landlords, is launching just as those renting out their properties in the West Midlands are preparing to face new rules that mean that they must check the immigration status of prospective tenants before granting a rental agreement.

Coming into play from 1^st December this year, new Home Office legislation will dictate that private landlords across Birmingham, Dudley, Wolverhampton, Sandwell and Walsall will, by law, have to ask those applying to live in one of their properties for proof of their right to reside in the UK – be it passport, right of abode certificate, or alternative documents that confirm their immigration status – before granting them right to rent.

Although recommended as best practice by the National Landlords Association (NLA) to minimise the risk of tenants reneging on rent, a check on immigration status is not currently a legal requirement, yet the new legislation, which will form part of the Immigration Act, will mean that a landlord failing to comply could receive a fine of up to £3,000.

This pilot scheme, which, if successful, will be rolled out to the rest of the UK next year, has stirred up much feeling amongst the private rented sector, making it a controversial topic, with some questioning whether it is the landlord’s place to act as ‘immigration officer’ in this way. Others fear the additional weight of responsibility on private landlords might negatively affect the industry, putting people off renting out their properties as they struggle to cope with the changing legislative demands.

Neil Woodhead, Founder of Ready Rentals, who established the service from his background of more than 35 years in the property management sector nationally, explains,

“The immigration issue is a hot topic at the moment, with the government and opposition openly debating their approach to the nation’s growing problem, but I don’t see this new legislation merely having been presented as a vote-winner. Checking a tenant’s immigration status is not only beneficial to the country as a whole, it also helps the landlord to feel more assured that they will receive their rent successfully.

“For some it can feel as though the legislation that private landlords have to follow is constantly changing, and this can be daunting for many. Yet it is important that private landlords face this, and other legal demands placed upon them, in a thorough manner – the result is legal compliance and a professional service for tenants, a win-win for all.”

Just one of the issues that Ready Rentals will address, the new immigration laws will be fully supported by the service, providing landlords in the West Midlands and further afield when it is rolled out, with access to all the advice and referencing systems needed to ensure that they meet the new demands of the immigration legislation.

An online system available for an affordable annual fee, the newly launched Ready Rentals will make the life of a private landlord easy and the service they offer legally compliant and seamless, addressing concerns and providing invaluable answers to problems faced by individual landlords. This is achieved by providing access to all the documentation needed to become a private landlord, a tailored system to suit individual needs; continually updating advice on statutory regulations and letting a property; providing the ability to market online to major portals; giving information on general marketing and advertising; and everything else needed to function as a successful landlord – all at the click of a button!

Regulated by the Royal Institute of Chartered Surveyors (RICS), as well as a Member of the Ombudsman Services Property which allows landlords to manage their portfolio with confidence, Ready Rentals is accessible from anywhere in the world and currently supports landlords with properties in England, Wales or Scotland.

Combining invaluable experience in the rental sector with a cutting-edge online system that forms the basis of Ready Rentals, the result is an innovative new service which aims to provide much-needed assistance for currently unsupported private landlords, allowing them to deliver a professional and legally compliant servicewith ease and peace of mind.

For more information about Ready Rentals visit www.readyrentals.co.uk or call 0141 212 9120.