Rental payments & due dates

Any landlord who collects there own rents can very easily get themselves in a pickle when it come to the date that the rent is due.  Take for example this recent example on our legal forum where a landlord who has attempted to simplify things buy taking an odd few days of rent has in fact made life probably far more complicated.

The reality is that when it comes to rental payments it's very easy to get confused.  A classic one is when landlords try to calculate the final rental payment.  In essence the tenancy agreement is the starting point of when rent is due.  But as this example confirms.  We are all victims of the asymetrical Roman calender invented thousands of years ago.  Therefore if you try and be clever with your rental due dates.  It might be worth stopping to think first.

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BTL Mortgage Rates

Max LTV	Initial Rate	Term	Completion fee	Booking fee	Incentives	Overall Cost for Comparison
85%	5.49% Discount	2 Years	2.5%	£130.00	No	6.9% APR
85%	5.79% Discount	2 Years	3%	£130.00	No	7% APR
80%	4.79% Discount	2 Years	£2999	£130.00	No	8.2% APR
80%	6.09% Fixed	2 Years	3%	£130.00	No	7.1% APR
75%	3.85% Discount	2 Years	£2450	£250.00	No	5.4% APR
75%	4.89% Fixed	Aug 31 2014	£995	£0.00	No	5.1% APR
70%	4.25% Discount	2 Years	0%	£199.00	Free valuation up to £335 for purchases and remortgages and free legals on remortgages only.	6% APR
70%	3.74% Discount	Jul 31 2014	£899	£0.00	No	5.9% APR
60%	3.25% Discount	2 Years	£1750	£250.00	No	5.3% APR
60%	5.49% Fixed	2 Years	2.5%	£130.00	No	6.9% APR

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IMPORTANT! Due to current market conditions, lenders are withdrawing and replacing products with little or no notice. Please check our website regularly to see the most up-to-date products available.

Your home may be repossessed if you do not keep up repayments on your mortgages.The Financial Services Authority does not regulate some forms of mortgage.

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Rental yields on the up!

Rental yields for landlords are on the up again according to PRS Trends Survey.

They reveal that landlords achieved a gross rental yield of 6.5% in the 2nd Quarter of 2012 as a result of continuing increasing rents and stagnant property values.  This compares to a rental yield of 6.2% at the back end of Q1.  Professional landlords are achieving a higher rental yield averaging a rental yield of 6.9%.

Landlords are also feeling quite positive about prospects with 44% of landlords expecting tenant demand to increase over the next 12 months.

Mortgage Search - whole of market

Adding a Section 8 Form in PM3

We wish the PM3 landlord software was as simple as 1-2-3. But there's always a balance between many functions and ease-of-use. When a landlord told us he couldn't find the Section 8 Form, I'd have liked to make it easier. Here are the five steps involved.

1. From the front screen click Tenancies
2. Pick the tenancy you want the form for
3. Click "Create new form for this tenancy"
4. Choose "Section 8 Notice with Schedule" from the drop down list and click Save Form
5. The form will appear on the list of forms for the tenancy - click it

Rents continue to rise

Rents continue to rise according to the Rentindex with the latest figures indicating the average buy-to-let rent has reached just shy of £612 up 2.5% over the last 3 months. The average buy-to-let rent now equals the record level achieved during the early Autumn of last year.  The latest Rentindex rental figures indicate that average rents are rising at an annualised rate of just over 4%.  This is at a faster rate than that announced recently by LSL Property Services who's backward looking figures recorded an annualised rise of  just 2.3% in April.  The LSL figures indicate that the North West is the area where rents are rising fastest with an increase of 1.7% in May.

Landlord insurance - professional rates

Tenancy Renewal in PM3

We've added a Renew Tenancy button in our PM3 software.

When you want to renew a tenancy, simply click the button. The system looks at the last rent request, and whether it's charged monthly, weekly etc. That gives you the end date for this tenancy. If you're happy with it, go ahead and renew the tenancy.

The current tenancy gets its start date set. The new tenancy starts from the next day, with the same rent and tenants.