5 ways to set you up for success this ‘move in season’

admin    Uncategorized     agents

Most landlords know that it is that time of year again. Yes, the lettings calendar typically follows the academic calendar and September is fast approaching.

For landlords who own and manage multiple properties which either have recently become vacant or will become vacant, it is paramount that we onboard new tenants as well as possible.

First impressions count and if your relationship can set off on the right footing, landlords can see a 27% reduction in complaints and escalation of small issues to an ombudsman.

Because we speak with more property management companies, landlords and estate agents than anyone else, we have a unique perspective.

We understand the worries and anxieties of people involved in the property industry and therefore we wanted to put together a list that could help:

Brought to you by allservices4u here are seven tips for landlords who want to get ‘move in season’ done right:

1. Treat your new tenants right

As landlords, we hate dealing with difficult and unresponsive tenants. At the same time as this, tenants hate and do not want to deal with unresponsive landlords. It is key to make sure that your tenants feel great about you and your property when they move in.

2. Hire A maintenance firm that understands tenants and how to represent you

If you have lingering worries about your margins, working with an all in one maintenance service that works on a flat subscription rate, can ease those anxieties.

Most maintenance firms are not run by Landlords or people who work in the property industry and know how to serve your unique needs. This is what makes allservices4u different. Our service was created by and is run by property people, so we understand the intricacies of managing tenants and helping you to get your maintenance done, on time and for the best price possible.

3. Follow the (changing!) laws

Most landlords stay in touch with the laws, but they change so quickly and are often left to interpretation, this makes it difficult.

Following the local and national laws can save you serious cash. Even experienced landlords can face expensive lawsuits as a result of accidentally falling foul of the law.

Just like an estate agent, we keep abreast of the law for you as a means of defending and protecting you.

4. Get good landlord insurance

Insurance is critical for any landlord, however, if you have dealt with insurance firms in the past, you may be aware that receiving payouts is not an easy or short process.

That is why it is becoming more and more important to anticipate, rather than waiting for a problem to occur.

With a solid all in one maintenance plan in place, you can rest assured knowing that your call outs are all included for one low flat fee. This means there is less worry, or hesitancy to action works when requested.

5. Do regular maintenance

For landlords, maintenance and repairs are a critical factor as to whether a tenancy goes well or not and a cog of rental ownership. However, regular maintenance not only keeps tenants happy, which aids in tenant retention, but it also protects your valuable investment. In fact, regular preventative maintenance goes a long way to reduce the chance of experiencing more costly problems. So, here are a few things you should do as part of your maintenance routine.

● Annual gas safety check

● Check for water leaks or faulty pipes

● Schedule regular checks to ensure electrics are in good order

● If you have a high turnover of tenants, locks and security upgrades are very important. The latest in smart security measures can make sure that your security spend is lowered.

Depending on your property’s features, you may need to perform other regular maintenance tasks. So, use your best judgment and coordinate with your tenants to complete maintenance with as little interruption for them as possible. Better yet, work with a Maintenance service that gets property law as well as any estate agent.

As part of move in season, make sure that you do not pay for a Gas Safety certificate until you have reviewed the Total Asset Protection Plan.

Rather than paying for Gas Safety/CP12, you can have it done free of charge! As well as getting your maintenance call outs covered as part of a 12-month plan.

Total Asset Protection (TAP) takes it a step further and goes further than just your boiler plan. TAP now means that your Boiler is not only covered, you are now covered for your electrics, locks and many other disciplines.

You pay a monthly fee, which covers all of your maintenance for your assets. Given all of the changes and that all Landlords are now treated as service providers, your life is about to change. You can now have your reactive maintenance needs covered. This means that you won’t have to take panicked calls from your tenants anymore or have tough conversations.

Let the maintenance professionals take care of the conversation and serve as the middle person between you and your tenants.

If you would like to learn more about how this works and how we are able to bring down Landlords maintenance spend (depending on your number of units), please email accounts@allservices4u.co.uk and make your subject TAP LAUNCH OFFER. If you do this we will send a voucher code for 10% which will bring down your total maintenance costs; again!

Again. Do Not Pay for a Gas Safety/CP12 until you have spoken to one of our specialists!

We will call you and help you get started with the joining process. It is really easy, you will be happy with the costs and all works are guaranteed. This will give you even more satisfaction and more of a mental moat against the stresses that naturally come with being a London landlord.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – 5 ways to set you up for success this ‘move in season’ | LandlordZONE.

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Freehold – what’s it worth?

admin    Uncategorized     agents

Hi, There is a block of 12 residential flats in a small town in West Sussex. They had Ninety-Nine-year leases granted in 1979 with a ground rent of £15 pa, increased in 2009 to £30 pa with another increase in 2039 to £60 pa until the expiry of leases in 2078.

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Reshuffle latest: Housing secretary Robert Jenrick is out

admin    Uncategorized     agents

Robert Jenrick has lost his job as housing minister in today’s cabinet reshuffle by Boris Johnson.

The MP for Newark has been Secretary of State for Housing at the Ministry of Housing, Communities and Local Government since July 2019 and has been both a loyal foot soldier for the Prime Minister but also a contentious figure both inside and outside of the housing market he oversaw.

On hearing of his removal, he said on Twitter: “It’s been a huge privilege to serve as Secretary of State @mhclg

“Thank you to everyone at the department for their hard work, dedication and friendship. I’m deeply proud of all we achieved.

“I will continue to support the Prime Minister and the Government in every way I can.”

Not expected

Jenrick’s departure had not been expected, and only a few days ago he attended the opening of his ministry’s new HQ in Wolverhampton.

But the scandals surrounding his controversial drive to see he parents during the initial lockdown, and his relationship with former press baron Richard Desmond and approval of a controversial housing development in East London, meant Jenrick often courted negative publicity.

Raab

Others who have lost out in the reshuffle include Dominic Raab, who was ravaged by critics over his handling of the UK’s withdrawal from Afghanistan, health minister Gavin Williamson and justice secretary Robert Buckland.

Buckland oversaw the often last–minute implementation of the various changes to the evictions rules during the worst months of the pandemic, so his departure is not a surprise to many industry watchers.

It has not been announced who will take the place of these senior cabinet minister – watch this space.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Reshuffle latest: Housing secretary Robert Jenrick is out | LandlordZONE.

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Minority of tenants say abolishing Section 21 a ‘good idea’

admin    Uncategorized     agents

A minority of tenants believe that abolishing Section 21 ‘no fault’ evictions will be good for the private rented sector, a new report has claimed.

The annual State of the Letting Industry report, which canvassed 550 estate agents and 1,700 tenants, found that 38% of tenants believe that the repeal of Section 21 will have a major and positive impact on the private rental sector, while 30% of agents believe it will have a major and negative impact. 

For arrears, the report echoes several other pieces of research, revealing that among the agents it polled, the number reporting an increase in arrears halved since the previous 2020 survey, dropping from 64% to 32%, with an additional 14% of agents saying arrears have fallen during the past year. 

Worrying

But a small but worrying minority of 16% say arrears among their tenants have increased by at least 30%. 

Overall agents remain optimistic, although the industry is showing some signs of caution following 18 months of uncertainty; although 67% feel either “very optimistic” or “somewhat optimistic” about the future of the lettings industry, this was down from 80% in September 2020.

Tom Mundy (pictured), COO of Goodlord, says sourcing new revenue streams, embracing technology, and streamlining processes are all gathering pace, as agents make their businesses fit for the future.

He adds: “After a year like no other, these insights offer a picture of a resilient, forward-thinking industry which is moving with the times and responding to major shifts in tenant demand and landlord behaviour with characteristic stoicism and professionalism”.

Read the report in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Minority of tenants say abolishing Section 21 a ‘good idea’ | LandlordZONE.

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BREAKING: Leading developer removes doubling ground rent clauses from all its properties

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Home owners who bought their homes or rental properties from developer Countryside will no longer be subject to ground rents that double every ten or 15 years, the Competition and Markets Authority (CMA) has announced.

Following CMA action, the company has voluntarily undertaken to remove terms from leasehold contracts that cause ground rents to double in price.

The effect of these increases, which kick in every 10 to 15 years, is that people often struggle to sell or mortgage their home and their property rights can be at risk, for example, if they fall behind on their ground rent.

Countryside will also remove terms which were originally doubling clauses but were converted so that the ground rent increased in line with the Retail Prices Index (RPI).

The CMA says the original terms were ‘potentially unfair’ and should have been completely removed, instead of being replaced with another term that still increases the ground rent.

This decision by Countryside follows enforcement action by the CMA against the firm last year, along with Taylor Wimpey, Barratt and Persimmon, and the CMA says it is now expecting these companies to follow Countryside’s lead.

“If they refuse, we stand ready to step in and take further action – through the courts if necessary,” says Andrea Coscelli, Chief Executive of the CMA (pictured).

Countryside leaseholders will now see their ground rents remain at the original amount when the property was first sold, and the developer has also confirmed that it has stopped selling leasehold properties with doubling ground rent clauses.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: Leading developer removes doubling ground rent clauses from all its properties | LandlordZONE.

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