Parkview Property Sends a Big Well Done to GB’s Brilliant Paralympians

In this two-minute read, we look at the amazing achievements of our Paralympians.

The word ‘inspirational’ gets thrown around a lot these days, but when it comes to our Paralympic heroes, there really is no other way to describe them.

The grit and determination they displayed in Tokyo provided a much-needed reminder that human beings can do incredible things when they set their minds to it.

We could all learn lessons from this remarkable bunch of people about staying positive, working hard and not quitting. (Useful lessons if you’re moving home, but also for life in general.)

Here are three GB athletes who epitomise the Paralympic spirit.

Micky Yule – From Scotland, stepped on an explosive device while serving with the Royal Engineers in Afghanistan and lost his legs. After undergoing 21 operations to stabilise his injuries, Micky felt ‘good for nothing’ – until he threw his energy into powerlifting.

After years of hard graft, Micky qualified for the Paralympics and this year, won bronze in the men’s 72kg category after lifting a whopping 182kg.

Ellie Robinson – Ellie, who won gold in Rio, finished fifth in Tokyo in the S6 50m butterfly final. In a heartfelt post-race interview (check it out on YouTube, it’ll have you welling up), she explained why the result was ‘a story of triumph, not of defeat’.

In the run-up to the games, medical experts told Ellie to quit swimming due to a worsening hip condition called Perthes disease.

But Ellie pushed through the pain and made it to the final because she wanted to finish her sporting career ‘on her own terms’.

Dame Sarah Storey – The Queen of the Track and the Road, Dame Sarah has won 17 gold medals and is Britain’s most successful Paralympian.

Incredibly, she’s competed at eight Paralympic Games over a 29-year period – and hopes to be a contender in Paris in three years’ time.

The 43-year-old mum-of-two started her career as a swimmer; she won two golds in the pool in Barcelona at the age of 14.

When an ear infection forced her to take time away from swimming, Dame Sarah discovered the joys of cycling – and became a champion on the bike, too.

If you enjoyed the Paralympics, let us know your favourite performance from Tokyo.


Pros and Cons of Different Types of Tenants in Ayrshire

Landlords! Finding the Right Tenant for Your Ayrshire Property is Half the Battle

In this three-minute read, we talk about three types of tenants and the pros and cons of each.

Currently, the UK rental market is booming, with landlords finding tenants quicker than ever according to Rightmove, and demand for rentals up 3% from last year. As a landlord, this is great news, so why not maximise the opportunity by finding the perfect tenant for your Ayrshire property.

Families

As the most common type of tenant in the UK market, is your rental family friendly?

Pros: Families tend to rent for the long term and once they’re settled, they often stay put. This is a massive plus, as a long lease requires minimal input. A typical family tenant will also be keen to furnish the property themselves, saving you costs and hassle.

Proximity to a school – especially one rated Good or Outstanding by Ofsted – can boost demand for your property and command a higher yield. Similarly, if your rental offers outside space and is close to shops, you’ll see a surge in interest from the family sector.

Cons: With families comes the potential for more wear and tear. This means you’ll want to make sure your property is finished to the highest quality to protect against damage. You’ll also want to ensure that any repairs are dealt with quickly.

If a family is on a long lease, they will make the home their own by hanging pictures, decorating children’s rooms and so on. So, at the end of a tenancy, you can be pretty sure your rental property will need a spruce up.

Professionals

Often regarded as the dream tenant, working professionals want proximity to transport links or their place of work.

Pros: With professionals comes the stability of a secure rental income and less chance of arrears – a huge bonus for private landlords. Less wear and tear and reduced potential for noise makes working professionals the crème de la crème of the rental market.

Cons: Just because they’ve got a good job when they move in, you can’t guarantee your monthly rent without some sort of rent protection. As the last 18 months have taught us, jobs can easily be lost, and financial situations can change quickly.

Students

Typically, students have a bad rental reputation, but is this a fair conclusion?

Pros: If a rental property is located near a university, you have the option of renting a property room by room – maximising your rental yield.

With most students receiving some sort of finance to support their studies, your rental income is safe with a reduced risk of arrears. You may also have the backup of the ‘bank of mum and dad’ just in case funds run low.

Cons: Unfortunately, lots of students means lots of partying and could lead to a higher risk of damage. There’s also a chance that maintenance issues may not be reported promptly. You can also expect a high turnover of tenants as the academic year is only around 10 months. This means more admin, advertising, and a need for end-of-tenancy problems to be resolved quickly.

For more advice about what type of tenants are attracted to rental properties in Ayrshire, contact me. My name is Janice Molloy from Parkview Property 01292 442888  


Reasons Why You Should Invest In A Holiday Rental

In this two-minute read, we look at the advantages of buying a holiday rental property.

Planning a foreign holiday over the last two years has taken a lot of patience, caused a lot of frustration, and has seen lots of Brits opting for a staycation.

With amber and green lists changing frequently, mandatory PCR tests, and the dreaded threat of hotel quarantine, the demand for UK holiday rentals has gone through the roof. But are they really worth the investment?

Here are five reasons why buying a holiday rental property may work for you.

  1. Expect a higher rental yield

In peak holiday season, holiday rentals can earn more in a week than a buy-to-let can in a month.

A decent holiday property can earn as much as an 11% rental yield (according to which.co.uk) compared to a buy-to-let which normally earns around 4 – 8% per annum. Be sure to do your sums before investing and subtract any agency or mortgage fees before working out your potential yield. It’s also worth remembering that more expensive destinations offer lower yields.

  • Holiday home for you

One of the most obvious benefits of a holiday rental property is a ready-made staycation home for you and your loved ones. Keep in mind, to earn the highest income from your rental property during peak seasons, you’ll want it rented out rather than staying there yourself.

  • Higher capital appreciation

If you’ve got your eye on a holiday rental that requires some TLC, you could enjoy an increase in property value over time and as the destination becomes more sought after. However, if you’re buying in a popular location, you might be paying a premium where prices have already peaked.

  • Less wear and tear

Buy-to-let landlords often have to pay out for maintenance and repairs at the end of a long tenancy. However, holiday rental properties are typically occupied for one to two weeks – so there’s less time for day-to-day damage.

The downside of lots of short-term guests is the need for a management agency to take care of housekeeping and general maintenance. Alternatively, you can manage the holiday let yourself and help guests with any issues during their stay.

  • Tax advantage

HMRC considers holiday rentals to be a business rather than an investment, so a landlord can enjoy more tax benefits than a buy-to-let owner. If the property is a Furnished Holiday Let (FHL), you might also be able to claim (limited) mortgage relief.

Always speak to a property/finance professional to find out about other tax advantages such as inheritance and capital gains tax and business rates instead of council tax.

For more information about buying a holiday rental property, contact us at Parkview Property 01292 442888


Tenant Eviction Process

When Evictions Are the Only Option

Getting to the stage where you have to evict your tenants is difficult for everyone involved and should always be considered as a last resort. It might be deemed necessary when:

  • The tenant isn’t paying the rent
  • The tenant has abandoned the property
  • The tenant has broken a term of the tenancy

Due to the pandemic, the rules have changed as to when you can start eviction proceedings and also how much notice you need to give.

There is a very specific process you must follow in order to carry out an eviction. If you don’t, you can be found guilty of harassing or even illegally evicting the tenants.

If you are owed rent but the tenant claims Universal Credit or Housing Benefit, you may not have to evict them. Instead, you can speak to DWP or the local council, respectively, to have the rent paid straight to you. This is called ‘managed payments’.

In Scotland, if your tenants have a Private Residential Tenancy, the following steps are necessary:

  1. To end a tenancy, you have to give the tenants a Notice to Leave. This must also have supporting evidence as to the reason why you’re asking them to leave.
  2. If the tenants don’t leave by the specified date, you can then apply to the First-tier Tribunal for Scotland (Housing and Property Chamber). This is often referred to as ‘The Tribunal’.
  3. You must also advise the local housing authorities’ homelessness team that you have serviced notice.

In normal (pre-pandemic) times, the amount of notice you must give the tenant can be 28 days’ notice or 84 days’ notice, this depends on the length of the tenancy.

It can be easy to get one or more steps wrong throughout these processes. It’s very important that you seek the correct legal advice from appropriate professionals. The cost implications of getting it wrong can be significant, so it’s worth doing it correctly in the first instance.

In England and Wales, if your tenants have an assured shorthold tenancy, the following steps are necessary.

  1. First, you have to issue a Section 21 notice if you want the property back after a fixed term ends. If the terms of the tenancy have been broken, you must issue a Section 8 notice.
  2. After the correct paperwork has been issued, you can apply to the court for a standard possession order. This is only appropriate if your tenants haven’t left by the specified date on the notice and they owe you rent. If you’re not claiming for unpaid rent, you can apply instead for an accelerated possession order.
  3. If the tenants still won’t leave, you can apply for a warrant for possession. This allows bailiffs to get involved to remove the tenants from the property.

If you’re a landlord or a tenant in Ayrshire and are concerned about possible eviction, please don’t hesitate to get in touch on 01292 442888

https://www.youtube.com/watch?v=ufae5PGXG0A