TWO THIRDS OF LANDLORDS LIVE CLOSE BY TO THEIR PROPERTIES

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TWO THIRDS OF LANDLORDS LIVE CLOSE BY TO THEIR PROPERTIES

It appears that landlords are not only choosing to buy close to where they already live, but prefer to manage them day to day as well.

Two thirds of landlord live within 10 miles of their property, while analysis of 10,000 addresses shows one fifth are only a mile away or less.

Despite promise of higher rent yields, Simple Landlord suggests that familiarity with the area in which they live is one of the deciding factors.

The firm’s findings also show that 65% of the landlords questioned made a conscious decision to invest in property, while 17% become landlords “accidentally”. Meanwhile 9% are buying homes for family members, such as a child at University.

It appears that landlords are not only choosing to buy close to where they already live, but prefer to manage them day to day as well. 65% of landlords prefer to tackle any maintenance issues themselves.

Alex Huntley of Simple Landlords explained the findings, ‘We are seeing an increasing trend of savvy landlords taking direct control of how their property is let and managed and becoming much more self-sufficient,’

‘While it can be easy to bash landlords as faceless investors, these results show they are more likely to be part of the community they invest in and take a personal interest in making sure their property is well maintained and tenancies are long term,’ he said.

The poll revealed that 45% owned a single rental property while 40% owned between two and four. The percentage for those who owned over five homes was lower at 15%.

Some 45% of those polled owned a single rental property, while 40% owned between two and four properties and 15% said they have a portfolio of over five homes.

For more information about how we can help with your property owners insurance. Please feel free to contact us on 01737 377250 or if you would like to handle your insurance on http://www.insureeasy.co.uk

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TWO THIRDS OF LANDLORDS LIVE CLOSE BY TO THEIR PROPERTIES

InsureEasy is now OPEN!

 

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The premises formally known as “Studio 7” is now occupied by Commercial Insurance Services Trading as InsureEasy.co.uk

InsureEasy.co.uk is part of the CISL group. We are an independent insurance brokers that have been established for 19 years, the last 11 years of which we have been trading from our offices in Banstead.  We already take care of the Insurance needs for many Banstead businesses and residents.

You might be asking yourself, 11 years? Why have I never heard of CiSL?! Well the answer is simple, our original offices are directly above Cubitt & West Estate Agents and not having a ground floor presence means that, to some, we have gone unnoticed!

All has changed! – We now also occupy the building at the rear of Cubitt & West once known as “Studio 7.   This will be home to InsureEasy – our online hub and a place you can come and have a cup of tea whilst obtaining a very competitive Insurance quote – whether for your business or for you personally.

No matter what type of insurance you require, we have access to most of the insurance market and can find the right insurance at the right premium with wide cover and backed up by an excellent claims service.

So next time you are passing whether you need an insurance quote, advice or even just to log you renewal date with us – pop in for a friendly welcome.  Our doors are open 9am-5pm Monday – Friday. Alternatively you can call us on 01737 377250.

 

See you soon!

 

The CiSL Team

InsureEasy is now OPEN!

MONEY SAVING TIPS FOR LANDLORDS

Money-saving-tips-for-landlords

During last year’s Summer Budget, Chancellor George Osborne announced a number of impending changes within the rental market. One of these changes is the reduction of Mortgage Tax Relief for residential landlords to the basic rate of income tax (20%), with the first phase coming into force from April 2017.

From this April, landlords will also no longer be entitled to a wear and tear allowance for furnished properties. The current system enables landlords to claim 10% but under the new rules, they’ll only be able to deduct fees they actually incur.

Many landlords are concerned about the impact the new regulations could have on their income streams. In any case, as a landlord you should seek to make cost-savings wherever possible, so long as it doesn’t negatively impact the service you provide or the relationship you have with your tenants.

If you’re keen on saving yourself some money (who isn’t?), here are some tips:

Location, location
If you are looking to buy a property to let – whether it’s your first or third – there’s one factor you need to consider over all others: location. Obviously, certain areas enjoy notably high rental yields – a mere few metres could mean the difference between being able to charge £600 per month for a property or £850 per month.

When comparing similar properties, don’t just look at the price – take time to calculate potential yields and make your decision based on this. Online property websites can give you a good idea of where rental hot-spots are.

Fix up
You’d be wrong to assume that ignoring essential repairs will save you money. On the contrary, ignoring or refusing to carry out repairs suggests to tenants that you don’t particularly care about their welfare. And if you don’t care about them, you can’t expect them to care about you or your property.

Check possible tenants
Always do your groundwork so you can be sure possible tenants won’t give you trouble later down the line. There are a number of ways you can carry out tenant checks, and gut instinct will only get you so far. Additional measures include: conducting credit checks, getting possible tenants to fill in application forms, and asking to view a possible tenant’s current accommodation so you can get an idea of how they live.

Get the right person to do the job
When you’ve got essential work that needs to be carried out on your property, don’t just settle for the first tradesman that pops up on Google. Ask landlords for recommendations and make use of review sites such as RatedPeople. This will help to ensure that any work carried out is of high-quality, and that you’re not paying over the top for it.

Find the right insurance
It’s really important your landlord’s insurance provides thorough cover and will pay out costs in the event of an incident which results in you making a claim. Having quality insurance could save you thousands of pounds in the long-run – use a broker to make sure you is getting the right level of cover for the right price.

By taking just a few simple steps, you could save hundreds of pounds a year and maximise your property investment.

MONEY SAVING TIPS FOR LANDLORDS

SECOND INCREASE IN A YEAR FOR INSURANCE PREMIUM TAX

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No sooner had we gotten used to the increased IPT rate of 9.5%, up from the 6% introduced in 2011, do we find that it’s going up again, albeit by less than the 3% predicted.

Why does IPT exist?
Insurance premium tax was introduced in 1994 at a rate of 2.5%. Insurance is exempt from VAT – the most common form of tax. The new rate of 10% will be introduced on the 1st October 2016, and by February 2017 it will be applied to all qualifying policies, regardless of when the contract was arranged.

Our IPT rate is much lower than the 19% in other European countries, however we still have the fourth most costly car insurance premiums in the world after the US, Austria and Germany.

What impact will it have?
IPT will be applied to personal policies including buildings and contents, pets, car insurance, and private medical insurance. It’s anticipated that the increase of 0.5% will equate roughly to an extra £2 on motor insurance and £1 on building and contents. This is less of a hike than that of last November, which estimates that on average £13 would be added onto car insurance and £10 onto home cover.

Travel insurance remains unaffected, as a new higher level of IPT was first introduced at 17.7%. This has since increased to 20%.

Because the tax is a percentage of the premium, location and circumstances of the policyholder could have a significant impact on how much they would have to pay in IPT.

Why is it being increased?
The extra funds generated by the increase are to be ring-fenced for flood defences and resilience strategies. Last year’s increase was anticipated to generate an extra £1.5 billion, while the extra 0.5% due in October should further boost this figure by 700million.

If you would like to know more about how IPT might affect you specifically, please call us on 01737 373222 or email info@cisl.co.

SECOND INCREASE IN A YEAR FOR INSURANCE PREMIUM TAX

WHY USE CISL? WE DO THE HARD WORK SO YOU DON’T HAVE TO!

Insurance Broker Advantage

Whatever type of insurance you’re looking for, arranging your cover through an independent insurance broker – rather than a do-it-yourself price comparison site – is your best bet when it comes to finding the right level of cover at the right price.

On the face of it, price comparison sites offer great deals, especially when cost is the main consideration. But dig a bit deeper, and there are lots of reasons why using a broker can prove a very wise choice. The main benefits include:

  • you’ll get truly independent advice from the professionals
  • they’ll work hard on your behalf and shop around to get you the best deal
  • experienced staff with specialist knowledge of their chosen insurance sector
  • a broker knows the insurance market and recognises when you’re getting value for money and can negotiate on your behalf
  • you get personal advice and support, and have an insurance expert “in your corner” with your best interests in mind
  • you can ask questions, air concerns and get advice and recommendations – but still have the final say
  • you learn about the pros and cons of each option in a way you can understand
  • unlike an agent, an insurance broker deals with many companies, not just one, so they can find you the best value
  • insurance brokers are extremely well qualified, and must meet very high professional standards
  • in-house claims support is available if the worst happens

The personal touch

There’s nothing quite like dealing with someone who takes the time to get to know you and your circumstances. Independent insurance brokers provide that personal touch. At the same time, customers still benefit from competitive rates and some of the best deals that the broker can negotiate because of their established relationships with the UK’s leading insurers.

For peace of mind and a great deal on your insurance, call your CiSL today on 01737 373222 or Visit http://www.cisl.co

WHY USE CISL? WE DO THE HARD WORK SO YOU DON’T HAVE TO!

Is your unoccupied property safe and secure? We insure for both commercial and privately let properties.

un occupied property insurance
affordable un occupied property insurance

 

One of the most visible signs of a recession is the number of unoccupied premises, both on the high street and in our neighbourhoods.

The likelihood of damage or injury arising from empty buildings is high, even if they are only vacant temporarily, such as prior to their sale or refurbishment, and it is the responsibility of the property owner or lease holder to make sure the building is secure and properly insured.

Common problems include theft of contents, fixtures and fittings, vandalism, fire, fly tipping and occupation by squatters. Empty buildings are also at increased risk of water damage due to inadequate maintenance and repairs.

Owners have a legal ‘duty of care’ to third parties entering empty premises, whether they are employees, estate agents, surveyors, buyers and even trespassers, and it’s vital that you tell your broker immediately if a building you own or occupy is vacant, even if temporarily. This could result in higher premiums, but the consequences of not being properly insured and an incident of this nature occurring can be serious.

For more advice on insurance for unoccupied properties, call one of our brokers today on 01737 377250 or visit www.cisl.co for more details on how to become protected.

Is your unoccupied property safe and secure? We insure for both commercial and privately let properties.

Is your unoccupied property safe and secure? We insure for both commercial and privately let properties.

affordable unoccupied property insurance
affordable unoccupied property insurance

One of the most visible signs of a recession is the number of unoccupied premises, both on the high street and in our neighbourhoods.

The likelihood of damage or injury arising from empty buildings is high, even if they are only vacant temporarily, such as prior to their sale or refurbishment, and it is the responsibility of the property owner or lease holder to make sure the building is secure and properly insured.

Common problems include theft of contents, fixtures and fittings, vandalism, fire, fly tipping and occupation by squatters. Empty buildings are also at increased risk of water damage due to inadequate maintenance and repairs.

Owners have a legal ‘duty of care’ to third parties entering empty premises, whether they are employees, estate agents, surveyors, buyers and even trespassers, and it’s vital that you tell your broker immediately if a building you own or occupy is vacant, even if temporarily. This could result in higher premiums, but the consequences of not being properly insured and an incident of this nature occurring can be serious.

For more advice on insurance for unoccupied properties, call one of our brokers today on 01737 377250 or visit http://www.cisl.co for more details on how to become protected.

Is your unoccupied property safe and secure? We insure for both commercial and privately let properties.