Lettings

Are you Finding Property Taxes Complicated?
If you’re a new landlord in Newport, you may find property taxes complicated and overwhelming. At Red Key, we are ready with some expert advice to help you better understand your obligations.

Subletting is a recurring subject in the world of rental property. For those who are not familiar with the term,subletting is when the original tenant named on the legal agreement moves out and rents the entire property to someone else. Alternatively, the original tenant stays in the property and rents out a room or multiple rooms. Unless the landlord has agreed to subletting, the act will be a breach of the tenancy agreement and constitutes grounds for eviction.

Buying and owning a rental property in Newport should be treated as a business. Even if you are not planning on having a huge portfolio of property that you rent out, it’s imperative that you cross the t’s and dot the i’s.

It may seem complicated at first, but it need not be if you plan out what you need to do, when and how. You should also seek the advice and support of professionals, whether that’s a mortgage broker, an estate or lettings agent, or an accountant.

We have four essential top tips for you to think about when it comes to buying a rental property.

So, you’ve got a property to rent out in the Newport area?

Perhaps you’ve bought it specifically to rent out, or maybe you have inherited it and want to make it pay its way. Whatever your reasons, you’ve decided to employ the services of a local Newport lettings agent to help you!

But how do you choose the right lettings agent?

Tenants have a duty of care to look after gardens, roof terraces, courtyards and balconies. This covers what grows outside, what is added – or taken away – and what happens in the outside space. Failure to look after the great outdoors could result in deductions from the deposit, so it’s vital to know what is expected of tenants.

It Makes Sense To Ensure Adequate Protection Is In Place

Landlords in Newport with Buy To Let mortgages will already have adequate buildings insurance in place. Even those who own outright usually insure their property for its rebuild cost, with cover in place for damage caused by floods, fire, and storms. However, there are other risks involved in renting out a property. As well as your buildings insurance, it makes sense to put suitable protection in place, so you’ll be financially covered if something goes wrong.

There Are Many Benefits To Using A Property Management Company

A fundamental mistake landlords make is choosing not to use a reliable property management company. There is a common misconception that managing a property independently will save landlords money. In fact, it often turns out to be a false economy, as our team at Red Key knows all too well!

Life has got more expensive for the majority of us and a review of finances is frequently needed to ensure we’re balancing the books. This is especially true for landlords who, for the first time in many years, will find mortgage rates have doubled since they last looked at home loans.

Making a ‘house a home’ is a saying that applies to everyone, including tenants, but there is often confusion over what a renter can do to a property in terms of DIY and decorating. In this blog, we explain how a tenancy agreement will provide clarity, and we’ll suggest a number of ways to personalise a rental property without making permanent changes.

The new year has certainly started on an upbeat note for the lettings sector. A survey by Finbri found more than 50% of UK property investors intend to expand their property portfolios in 2023. 

The year ahead could be monumental for landlords and tenants. It’s widely accepted that the Government’s A Fairer Private Rented Sector white paper will be adopted before the end of 2023 – and that means renting with a pet will be made easier.

There is no shortage of online energy guides detailing how to reduce energy consumption and lower fuel bills but much of the advice is aimed at homeowners. While installing solar panels, air source heat pumps and cavity wall insulation are good ideas, they aren’t the sort of home improvements tenants are always able to make.