According to the latest published figures, the average rent in England and Wales has risen for the sixth month in a row and is now at an astounding £705 per month. And with inflation currently at 4.2 percent, rents look likely to rise even further in the coming months. Obviously this is great news for landlords, but probably not so great for prospective tenants!

London saw the biggest rent rises, mostly thanks to the lack of available rental properties causing fierce competition, but rental prices rose throughout the South East in general. Only three regions declined: West Midlands, Yorkshire and Humber, and North East.

So as we can see, this is definitely a boom time for landlords and with such a buoyant rental market, landlords have all the balls in their court when it comes to setting rental prices for their properties.

Is it a good time to invest in rental properties as an investment?

Definitely! I have noticed a lot more affordable products appearing in the buy-to-let market now that the lenders have realised how strong the rental market has become in recent months. Which is good news if you are considering buying your first buy to let property.

However, do not be tempted to rush into the process without doing some research on the rental market in your area. Things are pretty good in my area, but as we have already said, this is not the case in ALL parts of the UK, so always do your homework before investing your valuable savings in rental property.

As anyone with university age kids is probably aware, the A level results were published at the end of last week, which means thousands of hopeful teenagers are now desperately trying to secure limited places at their preferred university via the clearing system. And even more importantly for landlords, the race is also on to find decent student accommodation in close proximity to campuses, pubs and entertainment centres!

Like the rest of the booming rental market at the moment, the demand for student accommodation is far outstripping the available places, and in the most popular university cities such as Edinburgh, Glasgow, and Manchester, decent student housing is being charged at a premium.

If you operate your business in a university city, you might already have rental properties aimed at the student population, but if you do not, it is definitely worth considering diversifying into the provision of student accommodation. With demand so high, you can expect a continued rise in the average weekly rent charges on student accommodation, and with the average university course lasting at least three years, as long as your accommodation is of a decent standard, you can enjoy long term tenants and guaranteed rental income.

Of course, there is a downside to marketing your rental properties at students: on the whole, students are not known for their quiet lifestyles and attention to housework and hygiene. But as long as you decorate accordingly and do not spend a fortune on high specification kitchens and designer bathrooms, you are not going to lose out if you eventually want to sell up.

Any landlord who owns one or more properties in a university city can expect to see more students seeking rental accommodation shortly since according the latest figures, the numbers of students has increased by 5% from last year.

I have to confess, I was rather surprised by this news as, like most people, I was under the impression that a university education has become so expensive in the last couple of years that many A level students had decided to skip university and get a job instead. But obviously I was wrong!

So why is this good news for landlords?

Rental properties aimed at students can be a good bet if you want a regular income. Unlike many tenants, students are less bothered about the décor and whether or not the house has a garden and all mod cons. You can also expect a steady stream of tenants if your property is in a convenient location for the university or college, and with the average student rent increasing all the time, there is no doubt that targeting students is a good plan.

In the more popular student hotspots such as Edinburgh, the demand for student accommodation is at an all-time high, which of course is pushing rents ever higher thanks to the economics of supply and demand—always good news for landlords!

However, it is better not to be too greedy and risk losing a regular income from the local student population. With university fees rising, the cost of accommodation is likely to be the deciding factor when looking for somewhere to live; even more so than the location of the nearest pub.

Like many landlords, I have heard stories about nightmare tenants who refuse to pay their rent and cause expensive damage to the property. Thankfully I have never had the displeasure of such tenants in my properties, but since I always check a potential tenant’s references carefully prior to the start of a tenancy agreement, the chances of such an unfortunate event occurring are slim to say the least.

However, nightmare tenants are not always easy to spot, and this is especially true for inexperienced landlords who are new to the property rental business, but even so, when I read a story in the press the other day about one poor landlord’s terrible experience, I was shocked.

The landlord in question had spent a huge amount of money renovating his property before letting it out through an agency. Tenants were found who duly provided references and moved in, but after a few months, the rental payments ceased and eviction proceedings were commenced.

But this was only the start of the nightmare. It took the best part of six months for the landlord to finally kick the tenants out of his property, and when he regained possession of the house, he was faced with an appalling sight. The property he had spent thousands of pounds renovating had been trashed completely: windows were smashed, the kitchen had been ripped out and carpets torn up. Lead flashing had even been removed causing the roof to leak, and a blocked toilet had leaked waste everywhere.

Maybe if the current court system had allowed the landlord to evict his tenants faster, this level of damage might not have occurred…

As we are all very much aware, gas safety is crucial in any home, including rental properties. So to remind home owners, landlords and tenants just how essential it is that gas appliances are regularly maintained, the first ever Gas Safety Week was launched on September 12th.

Many of my properties have gas appliances and gas central heating boilers, and like any responsible landlord, I make sure they are serviced regularly, have an annual gas safety check, and are replaced when necessary. Unfortunately, not all landlords are so scrupulous about such matters and this campaign seeks to raise the awareness of what we can do to improve gas safety.

What should landlords do to improve gas safety?

•    Always ensure a Gas Safe Corgi registered engineer services and works on your gas appliances
•    Make sure all gas appliances in your properties are regularly serviced and have an annual safety check

These steps might seem like common sense, but it is all too easy to try and cut corners to save money. You might assume that the gas appliances in your properties are safe, but carbon monoxide is a highly dangerous gas and you cannot afford to put the lives of your tenants at risk for the sake of a few pounds. Poorly installed or outdated gas appliances can easily leak carbon monoxide gas, and because CO gas is odourless and tasteless, it can be lethal.

So if you are in any doubt about the gas appliances in your properties, have them checked immediately—before it is too late!

Like most people, I have been watching the evening news for the last few nights, aghast at the events playing out in London and in other major cities. As the rioting and looting of property spreads and chaos ensues, it is hard to believe just how much damage has been caused by a small minority intent on creating anarchy.

But what happens if you are a landlord and you have property in one of the affected areas? Checking your landlord insurance cover is something you should do in the first instance. Make sure you have sufficient insurance and that it will cover any potential damage to property. Unfortunately, it might already be too late if your property has been affected by the riots, but if you are covered, at least the damage can be rectified. As a responsible landlord, you should also contact your tenants to make sure they are ok and to advise them of what to do if they feel they are in any danger.

After four nights of violence, we can now (hopefully) look forward to a cessation of the trouble in our city centres as the law enforcement agencies crack down hard on the criminal element behind the disorder. I have been lucky and none of this has affected me, but sadly there are lots of innocent people who have not been quite so lucky. Who can forget the images of burning buildings? Every scene of wanton destruction represents a livelihood, a business, or even a home. We can only hope that this is the end of this shameful episode.

The Edinburgh Festival is on at the moment, so for landlords with property in or around Edinburgh, you have a fantastic opportunity for making some extra money while the tourists flock to the city during the month of August.

The Edinburgh Festival is fabulous. I have been several times and there is always a lot to see and do. Of course, it is possible to have plenty of fun when you go for a day, but for the majority of people, spending several days in the city is really the best way to soak up the atmosphere and enjoy the sights.

As you might expect, hotels and B&Bs are booked up well in advance, so accommodation during August is always at a premium, which makes rental properties a useful prospect for millions of people who need somewhere to stay for a few nights. So if you are looking to invest in a buy to let property, any popular tourist destination such as Edinburgh is always a great prospect and you can easily increase your rent during the Edinburgh Festival.

An alternative is to let a room out in your home for the duration of the Festival or, if you have somewhere else to go, let your entire house out during August: if you are lucky and have a home in a prime city centre location, you could easily make a fortune over the course of a few short weeks.

And don’t forget, it is not just tourists who come to enjoy the Edinburgh Festival—all of the performers and associated support staff need accommodation as well!

Problem tenants are every landlord’s worst nightmare. Whilst tenants who fail to pay their rent on time can cause headaches, tenants who blight the lives of their neighbours with antisocial behaviour and all-night parties can be just as problematic. And let’s not forget the delightful tenants who trash the property, causing thousands of pounds worth of damage in the process, deal drugs on the premises, and indulge in acts of random violence.

During my years as a landlord, the majority of my tenants have been hassle-free, but for those landlords who have not been as lucky the process for evicting anti-social tenants has always been very lengthy and expensive. At present, the onus is currently on the landlord to provide evidence to back up their claims of anti-social behaviour, but a new proposal by the Government Housing minister, Grant Shaps, looks likely to change things for the better.

Grant Shaps wants to introduce a much faster procedure for evicting problem tenants accused of anti-social behaviour (although the proposal will not affect a landlord’s right to take possession of his property once the tenancy ends under section 21 of the Housing Act 1988), and if the tenant has any previous convictions for violence, drug dealing, and criminal damage, these could also be taken into account.

Hopefully this new proposal to streamline procedures for evicting “tenants from hell” will go a long way towards making landlord’s lives much easier as we will no longer be forced to struggle with a long and drawn out legal process to kick out nightmare tenants.

It looks like prospective landlords are in for a beneficial few months with the recent news that several of the big lenders have slashed their buy to let mortgage rates in an attempt to attract new business in the buy to let market.

One of the big names on the High Street, NatWest, has reduced its interest rates on buy to let products by a massive 1.4 percent during the course of last month, which is a pretty significant drop. And if the other recent news reports I have read are correct, there is a great deal of evidence to suggest that lenders are likely to keep slashing the interest rates on their buy to let products as they try and gain a greater share of the booming buy to let market. Some lenders are also reducing their completion fees to gain new business.

With competition so strong in the buy to let mortgage market, prospective landlords are definitely on to a winner. Now is a fantastic time to expand your property investment portfolio—borrowing is cheap and with rapidly rising numbers of people looking to rent rather than buy, your buy to let business will soon be booming!

But before you skip down the high street in the search for a new buy to let mortgage, make sure you do your research to see what kind of deals the lenders are offering. Interest rates are changing all the time, so it might be worth waiting a month or two to see if the rates fall even lower.