August 13, 2022

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5 things for Landlords to know in 2022

3 min read
Landlords

Although we are still a few months away from 2022,. property experts are already making predictions for Landlords the coming year and what the UK’s private rental sector may have in store. There was so much volatility in the property rental business over the last 18 months. This has led to many looking to 2022 to usher in a new era. Is this, however, realistic? 

What will tenants be searching for in the coming year? Experts including estate agents in Stafford predict that co-living will be the norm in 2022,. For both students and working people. The Build to Rent and Co-Living models continue to drive answers to the housing market difficulties. As demand continues to outstrip supply.

Investors expect long-term benefits beyond the pandemic in the PBSA. (Purpose-Built Student Accommodation) industry, which will continue to develop in 2022. Low-interest rates are also likely to attract huge investors who perceive the UK. As a wonderful opportunity to get a higher return on investment. 

To attract the best mortgage deals, property valuation plays an important role. If your property is in Stafford then hire the best service for property valuation in Stafford for the best outcomes. This means that all types of rental properties in the UK, from buy-to-let flats and the Build-to-Rent sector to PBSA,. Will attract a lot of international attention. International students will continue to flock to the UK in big numbers after a late surge in 2021,. As it remains one of the most popular countries to study.

However, with the consequences of Brexit and Covid still being felt in the higher education industry,. Student numbers from the EU will remain low. Tenants will continue to seek a more straightforward method of obtaining rental housing in 2022. In regards to the latter issue, Housing Hand reports that it has recently witnessed a rise in demand from lodging providers. For speedier and more secure onboarding of its tenants, a trend that the business predicts will be significant in 2022.

Here are a few tips that can help Landlords in 2022:

Ensure that your tenant’s deposits are safe.

Within 30 days of receiving the money, you must secure it in a government-approved scheme. After that, you’ll need to hand over the Deposit Protection Certificate and Prescribed Information,. As well as the Government’s How to Rent handbook, to your tenant. You have three options: the Deposit Protection Service (DPS), MyDeposits, or the Tenancy Deposit Scheme (TDS),. All of which assist with deposit disputes involving potential property damage. The amount of deposit you can take from a potential renter has been regulated at five weeks’. Rent or six weeks’ rent if the rental expenses are more than £50,000 per year since 1 June 2019,. When the Tenant Fees Bill was signed into law.

Please provide an EPC that is up to date.

Make sure your property is up to code in terms of energy efficiency,. And give your tenant a copy of the Energy Performance Certificate (EPC). As of April 1, 2018, your property must have an EPC rating of at least ‘E’. You could be penalised if you arrange a new letting without first confirming your property meets these requirements.

Tenancy agreement

Although it isn’t a legal requirement, having a tenancy agreement set out and signed by both. You and your prospective tenants is quite important, especially when it comes to issues like rent arrears. Make sure it’s an Assured Shorthold Tenancy Agreement,. As this is the form of contract that is subject to rental rules and regulations.

Inspections should be carried out on a regular basis – with permission

It’s a good idea to inspect your property on a frequent basis. You are, however, legally prohibited from entering without the permission of the tenant. Giving your tenants 24 to 48 hours’ written notice is recommended practice,. And this should be specified in your tenancy agreement.

Obtain the appropriate insurance coverage.

Loss of rent, damage, legal expenses, and liabilities are all covered by a decent Landlords insurance policy. Keep in mind that most regular building insurers will not give the protection you’ll need as a Landlords,. So you’ll want to shop around for Landlords insurance. If you don’t inform your building’s insurer that you’re renting out your home, your insurance may be voided.