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The lowdown on being a landlord in the UK in 2022

A pretty row of houses for rent

Thinking of becoming a property landlord? Here are some pointers from experienced local property managers Ellen Kay Lettings.

In the first quarter of 2021, the majority of private landlords in the United Kingdom had between two and four properties in their portfolio. Approximately 42 per cent of landlords fell in this group compared to seven per cent of landlords who owned over 20 properties. In 2019, roughly 20 per cent of England’s housing stock was occupied by private renters, making them the second largest group after owner-occupiers. *

The private rental sector in the UK is booming with no signs of it abating. Demand for quality private rentals remains high, and this is replicated right across the country with properties of all types and sizes in demand here in Rochdale and across Greater Manchester.

Is being a landlord for you?

Maybe you have inherited a property or are considering buying a home to let but are worried it might be too much hassle or that there is too much legislation. There IS a certain amount of legislation surrounding the private rental market and rightly so, people deserve to live in safe homes and here at Ellen Kay Lettings, we take this burden away from you. We are up to date with all the relevant legislation and take care of that side of things through our full property management service

There are costs associated with being a private landlord, including stamp duty on second properties, tax implications and maintenance and upkeep BUT there are also financial benefits from well managed desirable properties, for the accidental landlord, the single property landlord and the portfolio landlord, in terms of monthly income and longer-term realisation rewards from selling assets.

Here at Ellen Kay Lettings, we can assist landlords with all aspects of property management. We are a trusted and professional local agency with highly recommended property management services, and we can and do take care of many if not all of the things’ landlords might worry about such as pre-tenancy checks, periodic tenant visits, rent collection, property management, repairs and maintenance. 

Here’s what one of our landlords Gareth W had to say about Ellen Kay Landlord property services:

From the moment I started having Ellen Kay Lettings manage my Littleborough property, I have been hugely impressed by the way they have handled everything from renting out the house to dealing quickly and effectively with any issues that arise. As I no longer live in the area, the peace of mind that having them in charge of my property gives me as a landlord is absolutely invaluable. I couldn’t recommend them enough.”

Get in touch today to see how we could help you let your property in Rochdale and Greater Manchester.

*Statistics available from: https://www.statista.com/statistics/1122228/property-portfolio-size-in-the-united-kingdom/

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Frequently asked questions about renting – for landlords

FAQ Image

Are you considering being a landlord? Have you inherited a property and are wondering whether renting out is an option? Or are you considering investing in property?

Let’s look at some of the frequently asked questions we get here at Ellen Kay Lettings from new or aspiring landlords.

Ellen Kay Lettings FAQs for landlords

Q: Do I need to know all the legal ins and outs of being a landlord?

A: Although it’s beneficial to have an understanding, No. as we will help you with all the legalities surrounding the UK rental market sector. There is constant debate around the UK lettings market and various ongoing consultations about proposed legislation. As professionals in the UK rental market sector, we make sure we are aware of all the consultations and conversations and are always up to date with legislation. We make sure you are covered legally as a landlord and are compliant and letting safe properties to tenants who have a legal right to rent in the UK.

Q: Do I need to meet/choose/vet my tenants?

A: No. You can of course if you want to, or you can leave it up to us to do the tenant finding, tenant checks and tenant choosing.

Q: Do I need to be in the UK/in the same town/city/county as my property?

A: No. You can be. You can also be on the other side of the world. We work with local, national and overseas landlords. 

Q: What exactly do you do?

A: The three main services we provide are:

  • Fully Managed
  • Rent Collection
  • Let Only Service

We can cater our service to your needs and would be happy to discuss this with you when the time is appropriate.

Q: Are you a member of any trade bodies?

A: We are members of the Property Redress Scheme – which is a consumer redress scheme, authorised by the Government since 2014, to provide an impartial service that considers consumer complaints about a variety of property-related issues.

It would be impossible to list ALL the common questions we get asked about being a landlord, but rest assured, that we at Ellen Kay Lettings are available to help overcome any issues any aspiring or new landlord has. We are experienced, approachable and professional and we have unrivalled local knowledge of the market, and because of this we regularly receive great reviews from both landlords and tenants. 

Get in touch and get your property on the market to rent with Ellen Kay today.