The buy to let sector continues to do well for landlords - but student accommodation is setting the benchmark for letting performance.
Despite monthly rents increasing by 2% during 2013, the average buy-to-let yield for a UK landlord sits at 6.1% gross, down 0.1% on 2012. But student accommodation thrashes this figure with sustainable and assured yields of 7 to 9% - net.
Peter McDermott, Director of UK-based Go Global Investments, said: "These latest figures from Countrywide Residential Lettings show that despite 'Generation Rent', where the number of people renting from a landlord has doubled to 8.5 million in 15 years, gross rental yields are sticking around the 6% mark.
In 2012 we want to give you the A-Z of reasons why scottfraser should be your agent of choice.
In December 2010 the Health and Safety Executive released a Safety Notice to raise awareness of the potential dangers from certain types of flues connected to gas-fired central heating installations. Landlords are obliged to take action before the 31 December 2012. That’s why our G is for Gas Safety.
Where boilers are located away from external walls, flues are more likely to run through ceiling (or wall) voids. In such cases when the gas appliance is serviced or maintained it can be difficult, if not impossible, to determine whether the flue has been installed correctly or whether it is still in good condition.
Unless the gas engineer can make these checks they cannot ensure that the flue from the boiler is safe in order to comply with their legal obligations and will not be able to issue a Gas Safety Certificate.
If the flue is not inspected and a fault overlooked, dangerous levels of carbon monoxide (CO) could be released into the living accommodation. CO is a colourless, odourless, tasteless, poinsonous gas. It stops the blood from bringing oxygen to cells, tissues and organs and can kill quickly, without warning.
After 31 December 2012 the gas engineer will not carry out the inspection if hatches have not been installed.
Our in-house property managers are contacting any scottfraser landlords who have properties requiring hatch installations. If you are concerned about this update to legislation please contact our Branch Managers for impartial advice or take a look at the gas safety pages of our website.