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Since our last newsletter it has become apparent that the increase in stamp duty targeting residential landlords has not had much negative effect. Nor have the changes to income tax in terms of mortgage interest for let residential no longer being allowable expense to offset against income. We believe that the investment yields available remain to be far more attractive than financial products due to low interest rates or higher risk of investments giving similar yield to let residential property.
The result is an oversupply of some types of property to rent giving prospective tenants a wide choice. A selection of a good tenant is vital to ensure timely payment of rent and good stewardship of the property. At Shouler & Son we have a wide variety of property type ranging from bedsits up to and including large period houses. For all types of property our advice to residential landlords is to maintain their property to a good standard so that they attract good tenants and that their property stands out from the crowd. In the current market it is not good enough to comply with legislation. At Shouler & Son we spend much time and effort on behalf of our landlord clients ensuring their property not only complies with current legislation but is at a standard which attracts good tenants.
The most important events in the life cycle of a residential tenancy are check in and check out. We pride ourselves in attention to detail and thoroughness with which these two processes are carried out in house rather than outsourced to inventory clerks. This ensures to a greater extent as possible the outgoing tenant pays for any remedial work required and incoming tenant finds everything with the property as it should be.
If you would like help with your let residential property whatever that may be please call Alice Rowley today on 01664 560181.
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