Multi Let and Help the Millions Who Live with Parents

At Rooms in Cardiff we are always keen to promote the benefits of multi letting and creating a professional house share as an alternative use for your House of Multiple Occupancy (HMO) and Student Housing, and now there is even more evidence that should help you switch the use of your House of Multiple Occupation (HMO).

The potential for landlords to diversify, capitalise and cash in on the multi let market is huge.   In the United Kingdom, more than 1.6 million people aged between 20-40 are still living with parents because they cannot afford home ownership and in May this year the Office of National Statics reported that 2.9 million people aged 20-34 were still living at home.

Rooms in Cardiff has seen a huge demand from professional tenants aged between 20 and 35 looking for Rooms to Rent in Cardiff and across South Wales, those people who are in gainful employment, earning a good salary who just cannot afford to get on the property ladder, but do not want to live with their parents for a multitude of different reasons.

If you are a landlord with property in Cardiff or South Wales and interested in finding out how you can capitalise on the growing demand from professional tenants who are looking to Rooms to Rent in Cardiff  why not email info@webletz.co.uk or call us on 0845 496 0000 or visit www.roomsincardiff.com

Rooms in Cardiff are a specialist provider of landlord services for landlords with House of Multiple Occupancy (HMO), Student Property, Professional House Share and Multi Lets.  Our services include:

Tenant Finder No Tenant No fee

Property Listing across multiple property portals

HMO & Multi Let Property Management & Property Services

HMO Rent Guarantee

Buy to Let Evictions Soar by 33%

Ministry of Justice figures analysed and presented by homeless charity, Crisis suggest the number of Court orders to evict tenants from the Private Rented Sector have dramatically increased by over one third in the last two years.

Ministry of Justice figures suggest Courts in England and Wales have granted 36,211 eviction orders against tenants renting from buy to let landlords and House in Multiple Occupation (HMO) an increase of 12% in the last year and a massive 33% increase over the last two years.

The research by the homeless charity Crisis has added weight by a survey conducted by the National landlord Association (NLA) whose figures suggest an equally bleak picture with 49% of landlords polled saying that their tenants had paid late or are in rental arrears over the last 12 months.

If you are a landlord with a buy to let property in Cardiff or across South wales our Rent Guarantee Scheme can protect your property investment for rental arrears, void periods and costly tenant eviction process.

Our Rent Guarantee Scheme provides landlords in Cardiff and across South Wales complete piece of mind as they are safe in the knowledge that their property is tenanted by  professional tenants and their rent will be paid into an nominated bank account on the same day of the month every month.

Our Rent Guarantee Scheme is suitable for buy to let property investments in Cardiff and throughout South Wales whether it be an apartment, bungalow, family home or flat and for property investors with a Student property, House of Multiple Occupation (HMO) or Multi Let we provide a specialist HMO Rent Guarantee.

For a no obligation Rent Guarantee appraisal you can email info@webletz.co.cuk to arrange a call from one of our team or telephone 0845 496 0000.

Guaranteed Rental Income Cardiff

The buzz around the property world at present seems to be “Rent to Rent” or as we like to call it Rent Guarantee.  Do not confuse this with Rent Guarantee Insurance as with our Rent Guarantee Scheme there is no set up costs and no excess charges and no small print which stops claims being made for the 90 days of the policy.

Our Guaranteed Rental Income Cardiff scheme is simple to understand and guarantees landlords in Cardiff and across South Wales piece of mind that they will receive a guaranteed rental income each month with no void periods and no hassle.

How Does Rent Guarantee Work

The flow chart on the left explains it best.  For “Rent to Rent” or Rent Guarantee to work three separate parties are needed:

The landlord this is the party who is looking for a guaranteed rental income for their property investment.

 Rooms in Cardiff: We provide The Landlord with a true rental market appraisal of their property investment as well as providing a Rent Guarantee figure we can provide each month of the contract term whether your property is tenanted or not.

 Tenant(s): If The Landlord agrees to Rooms in Cardiff Rent Guarantee figure and enters into a Rent Guarantee agreement then it is Rooms in Cardiff job to proactively search for professional and referenced tenants, set up tenancies and manage the property investment at no expense to The Landlord.

The contract between The Landlord and Rooms in Cardiff is a commercial Agreement or Management Agreement which outlines when the Rent Guarantee Scheme will commence, its duration and the Rent Guarantee figure The Landlord will receive.

Once a professional Tenant or Tenant(s) have been found and they have successfully completed Landlord Referencing, Employment Referencing and Credit profiling Rooms in Cardiff will enter into an Assured Shorthold Teancy (AST) for a 6 month period with the tenant(s) as well as conducting a thorough inventory and lodging tenant deposits with The Deposit protection Service as required by the Housing Act 2004.

If you are looking for a Guaranteed Rental Income Cardiff our no fuss and easy to understand Rent Guarantee Scheme is the perfect solution whether your property investment is an apartment, flat, bungalow, family home or house of multiple occupancy (HMO).

For a no obligation Rent Guarantee appraisal please email info@roomsincardiff.co.uk or call us on 0845 496 0000 to speak with one of our team.

Accidental Landlords

Research by the Association of Residential Letting Agents suggests that 43% of its members have seen an increase in the number of accidental landlords, home owners who have to rent out their homes as they are unable to sell.

If you are an Accidental landlord in Cardiff or across South Wales and would like piece of mind and a guaranteed rental income we can help.  Our cost effective Rent Guarantee Scheme has not set up costs, no management fees and no void periods providing accidental landlords with a hassle free alternative to using a traditional letting agent.

Whether you are an accidental landlord with a flat, house or bungalow why not contact us to discuss how we can provide you with a guaranteed rental income in Cardiff and across South wales.

Email info@webletz.co.uk

Telephone 0845 496 0000

HMO Cardiff For Sale

Earlier this month we wrote a blog post titled “Cardiff Student Housing or Professional House Share?” which discussed the fall in student numbers for the current academic year and the number of empty HMO and Multi Let properties available for rent and for sale across the Cathays, Gabalfa and Heath areas of Cardiff and whether landlords should be diversifying and looking at the professional house share market.

Well today I am writing about the current valuation of HMO and Multi Let properties in Cardiff after being contacted by a Cardiff estate agent with an all too familiar story.

Here is the situation the landlord has always provided Cardiff Student Housing in Cathays and Heath areas of Cardiff and I am sure they have done very well over the years but now the Cardiff student housing market is changing as large corporates are providing housing, such as Student Castle, student numbers have dropped and the student accommodation is not filled.

What Are The Landlords Options?

Well there are four main options:

  1. The landlord can rent the whole house to a family
  2. The landlord can look to continue down the multi let route and provide a professional house share
  3. Contact a specialist HMO Rent Guarantee provider
  4. Sell the property

Sounds straight forward, but many of the properties for sale and to let geared towards the Cardiff Student Housing market need a large amount of investment to bring them to a standard required for options 1,2 and 3, so the only option is to sell!

Option 4: For Sale

This sounds a logical option for the landlord who may not wish to spend £20-30k on their property so a “For Sale” board is put in the front of the house.  A few viewings later and an offer is accepted the landlord has the price he wants, but it’s not that simple.

These HMO and Multi Let properties which are geared for the Cardiff Student Housing market are often set up with locks on doors so straight away you can no longer arrange a standard BTL mortgage the buyer will have to look at a specialist HMO mortgage or commercial finance which is considerably more expensive to arrange than you high street BTL.

Secondly even if locks aren’t on internal doors and there is no whiff that the property is set out as a HMO or Multi Let the rental income versus interest only mortgage payments will no stack up unless a hefty deposit is put down which is also required for HMO and commercial finance as often the property is overvalued in today’s market.

So that’s why I am hearing the same story over and over from Cardiff estate agents, the vendor agreed a sale price but the deal has fallen through as the purchaser cannot raise the required finance.

So as we pass Fresher’s Week and all students are settled for the 2012-13 academic year how many HMO and multi lets will be left untenanted and let standing for sale? Quite a few as many need £10-30K being spent on them.

What’s The Outlook?

If you are looking to sell your Cardiff student housing and it requires substantial work you are probably going to have to be prepared to lower your expectations when looking for a sale as often a deposit of £50K is needed and hefty fees are incurred when raising HMO or commercial finance.

Rooms in Cardiff is the place to go for those looking to house share in Cardiff and further afield in South Wales. Whether you are looking for Cardiff student housing or a professional house share, Rooms in Cardiff is your number one resource for private landlord lettings, house of multiple occupation (HMO), multi let property and to find your next housemate.

You can contact Rooms in Cardiff via email info@webletz.co.uk

Telephone 0845 496 0000