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Latest Articles from TurnKey Landlords
Ben Gosling The recent claim that one third of tenants allege to have been threatened with or even suffered a ‘retaliatory eviction’ is more than a little alarming. ‘Retaliatory eviction’ is the practice of evicting a tenant for coming to you with a complaint, or reporting a defect i...
Ben Gosling If you’re an old hand at this letting lark, you’re likely au fait with landlord’s responsibilities when it comes to gas safety. For the benefit of those of you who aren’t, however, I shall provide a quick recap: All pipe work, gas appliances and flues in your property m...
Ben GoslingProperty is a popular investment nowadays, largely thanks to rock-bottom interest rates. Whilst pensions and savings accounts are underperforming (an understatement – we’re talking Sunderland in the 2005-6 Premiership levels of underperformance here), buy to let mortgage rat...
Ben Gosling We’re always advising landlords to have a thorough tenant vetting procedure, which includes requesting a landlord reference letter from the prospective tenant’s previous landlord. It stands to reason, then, that you’re eventually going to have to write out a landlord refer...
Ben GoslingThe UK property market can sometimes feel like a bit of a fight – and not everyone fights fairly. From fake deals to hostile bidding wars, you can find sellers, buyers and agents pulling stunts that are the transactional equivalent of a fistful of mud in the eyes, or a swift...
by Ben Gosling.Is a landlord responsible for pest control, or a tenant? It’s a question that gets asked a lot, and causes more than its fair share of confusion. After all, if you’re not living somewhere, a sudden visitation from a few hundred ants can’t really be your fault, can it? ...
by Ben Gosling.The introduction of the assured shorthold tenancy (AST) agreement in the 1980s made it much easier for private landlords to evict bad tenants and charge market rent for their properties, but this wasn’t always the case. Prior to 1989, most tenancies were what was known a...
by Ben Gosling. Finding the cheapest buy to let mortgage is one thing, but qualifying for it is another. The headline-snatching rates touted by lenders can often be as deceptive as photographs on dating websites, and some customers will find the reality slightly less attractive than t...
by Ben Gosling.Landlords in Scotland are required to register with each local authority where they own a rental property. Whilst landlords south of Hadrian’s wall might think they’ve dodged a bullet by escaping this requirement to date, landlord registration might be even closer than j...
by Ben Gosling.If Moses had hung on at Mount Sinai for a few more moments, he’d have heard the eleventh commandment: Thou shalt always have a tenancy agreement. They are very important, and a landlord should never be without one – but contrary to a common misconception, they aren’t ac...
by Ben Gosling.It can be difficult to make your money work as hard as possible. Many investment vehicles are underperforming in the current interest rate drought, and it can sometimes feel like your cash is doing little more than twiddling its thumbs and humming the tune to the Generat...
by Ben Gosling.Most landlords know their responsibilities. Among them is placing any deposit they take from their tenants in a tenancy deposit scheme and issuing them with prescribed information about the scheme; simply leaving the money in a clear bag under a mattress is not on. Depo...
by Ben Gosling. When is a repair not a repair? It’s important to be able to know when a change to your property counts as a repair or an improvement. Though this might seem like splitting hairs, the distinction has an impact on two important things – a landlord’s legal obligations, a...
by Ben Gosling.The TV licence is a vital part of our day-to-day entertainment. Unfortunately, timeless modern opuses such as Snog, Marry, Avoid? don’t just fund themselves; the creators need money to continue to generate slice after slice of televisual gold. Enter the TV licence. Many...
by Ben Gosling. Some landlords are ‘accidental landlords’ – people thrust into property letting by circumstances out of their control. But a great many chose to get into the business too, and hundreds of people are wondering whether or not they should follow suit. For those people, h...
by Ben Gosling. Last week, I talked about what to do if your tenant terminates the tenancy agreement early. The article assumed a fairly typical six month assured shorthold tenancy agreement, which you can only end prematurely by both parties agreeing to surrender it. Otherwise, you’r...
by Ben Gosling. If you’re the landlord of an HMO property that you let to sharers, you either let the house as a whole to a group who are ‘joint and severally liable’, or you let each room individually. If you let individual rooms separately, one tenant wanting to leave before the ot...
by Ben Gosling.It’s strange that so much online information concerns getting rid of troublesome tenants rather than keeping good ones when a lot of the time, it’s actually tenants who decide it’s time to part ways and terminate the tenancy agreement. This will usually be during the pe...
It’s time for another dive into the mire of UK political legislation, so get your snorkel on (a couple of pro plus wouldn’t hurt, either). I’d like to clarify a few things surrounding the protection of tenants’ deposits; particularly regarding the service of ‘prescribed information’. ...
by Ben Gosling.Being a landlord can sometimes be a load of rubbish – and I mean that almost in the literal sense. The word may have been funny when Eric Morecambe shouted it to Luton fans from the director’s box at Kenilworth Road, but most of the time, it only signifies a headache. T...
by Ben Gosling.Be it because you need to sell your property, because you want to live in it yourself or because your tenants are less than model and you want shot of them, you’ll probably want to regain possession of your property at some point in your landlording career. If this is t...
by Ben Gosling.A lot of what you do as a landlord – marketing and viewing, repairs and refurbishments, stress management techniques – will probably feel like it’s done on the fly. There’s one process you can rely on to be procedural, bureaucratic and thoroughly long-winded, though, and...
by Ben Gosling.There are several things required to run a letting business, but strangely, proximity isn’t one of them. In fact, there are many landlords who own a rental property with a buy to let mortgage but live elsewhere. Whether or not the grass will be greener on a distant pastu...
by Ben Gosling.The well-known 1993 documentary The Wrong Trousers might not have painted the nicest picture of lodgers, but not all of them are hostage-taking jewel thieves. In fact, on balance, very few of them are, and more and more people are welcoming them into their spare rooms as...
by Ben Gosling.We often talk on this site about the benefits of remortgaging. Regularly switching loan to save on interest rates, particularly while rates are so low, is a sure fire way to bolster your yields and help keep your business in the black. Remortgages have other uses, too. ...
by Ben Gosling.If you want to get into buy to let – whether planned to invest or found yourself an ‘accidental landlord’ – you’ll want to have a rough idea of how much your mortgage will cost before you take that plunge. Getting a mortgage quote is usually a straightforward process, bu...
by Ben Gosling. In a recent post, I wrote that one in six people is in negative equity. This is a bad position to be in, but fortunately there are ways out, and the upshot is that the lucky remaining five have assets with actual value! Some properties will have increased in value ove...
by Ben Gosling.When you start letting out your property, you should drop a note through the local doors listing your contact details and advising the occupants to let you know if there are any problems with your tenants. You can check your tenants thoroughly, but a few bad eggs can al...
by Ben Gosling.When you're getting a new mortgage, you have the choice of whether it is a fixed rate or a tracker mortgage. Both have their advantages and disadvantages, and if you're a savvy investor, both can be put to good use. In this blog I'll be looking at how to get the most fr...
Ben GoslingDespite bad economic conditions, the UK's private rental sector is outperforming many other investments. On the whole, the government is pleased with it, and wants to see more growth. ‘Build to let’ is a term which refers to the building of new developments specifically for...
Ben GoslingRepairs can and will crop up. Your tenants can hopefully change a fuse or unblock a sink, and you might be handy enough with a spanner to take care of other bits and pieces, but it’s going to eventually reach the point where you’ll want to call in a trader. Getting the righ...
Ben GoslingThere’s no point in sugar-coating it – a property can sometimes give you a lot of grief. Some problems can be solved with a minimum of stress, time and expense, but some can cause a lot more than their fair share of aggravation. The problem property It’s on its last legs....
Ben Gosling Your buy to let mortgage is in place, your property complies with current building regulations, and you’re all set to start searching for someone to actually live in it. All it needs is a lick of paint and you’re good to go, right? Well, actually… wrong. Decorating your b...
Ben GoslingNot everything is set in stone, and finances can turn sour without warning. Rent arrears are a worry we hope never to deal with, but half of all landlords will experience arrears and for those the question is not ‘if’ but ‘when’. The problem can be overcome, and a small amo...
Ben GoslingYou put your hand into a jeans pocket. There’s a chance you left a tenner in there, but also a chance there’s nothing in there but blue fluff – let’s call it fifty-fifty (you leave a lot of tenners in your pockets). Alternatively, you put your hand into your wallet, where y...
Ben GoslingIn one of my last posts I talked about finding the perfect tenant. To do that, you’ll need to market your property – here are a few hints and tips. Planning Marketing is about more than just placing a few adverts and waiting for the enquiries to roll in. Your would-be tena...
Ben GoslingRent is officially late if it is still unpaid as early as one day after the due date. There should still be what’s called a ‘grace period’ before you get heavy-handed with them, though. After the rent is late for a few months on the go, you should consider trying to have a ...
Ben Gosling We all want to find the perfect tenant. The right tenant can make a buy to let investment a rewarding experience, while the wrong one can cost more than their fair share of time, money and patience. So what is the perfect tenant…? Any of the following might be true of th...
Ben Gosling Dear TurnKey Landlords, I have been a landlord for just over a year now. When I started I used a letting agent, mostly because I felt I was inexperienced and wanted to make sure everything was being done ‘above board’. The letting agent I used was not the cheapest availab...
by Ben Gosling. Roughly one in six homeowners who bought their home at any time since 2007 are in negative equity, which means that the value of their home is less than the outstanding debt secured on it. This can happen when property prices drop and is common on interest only mortgag...