An article by LettingAgentToday shared that Zoopla contacted 6,000 consumers and over 660 lettings and estate agents and created a list of the issues that concern landlords the most in 2019.
We have listed some of these landlord concerns and explained the solutions that Chancellors can offer. Rest assured, we have a process in place for the services and advice that you require to benefit you as the landlord whilst also keeping your tenants happy.
Finding suitable tenants
One of the worries of landlords it the void or vacant period. This is bad news for the landlord as this loss of income can be significant and if the property was purchased with a mortgage bad for the unsympathetic banking industry. The property may also fall into disrepair as there is nobody inhabiting it to notify stakeholders of damage. Even if the property is not mortgaged, the income from the rental property can be used elsewhere by the landlord.
Our database currently has over 60,000 people looking for a property*, so it is likely that we have a suitable tenant for you who’s already on our books. We also advertise properties on more than 40 online portals so your property gains as much exposure as possible.
We conduct full referencing on all prospective tenants to help you decide if they are suitable for your property.
Ensuring tenants look after the property
As many of of articles in the seller’s section outlines, the price of a property is impacted by its state of repair and presentation, therefore it is natural that a landlord would want their property to be kept in the best possible condition for the next tenants, and so it also hold its value.
Our Property Management service allows the local branch team to make periodic property inspections. We will then review any actions that need taking and create a detailed report with advice to encourage and support your tenants to look after your property.
Tenants paying rent on time
Sometimes there are unforeseen circumstances, but with Chancellors there is no need to worry about this, thanks to our Rent Guarantee Scheme as part of our standard Landlord Property Management Services. If your tenant does not pay the rent, we will. Where they prove necessary, rent guarantee payments are processed after only 10 days to ensure monies get to you fast.
We also offer Tenant Monitoring by providing monthly ongoing credit monitoring of you tenants throughout the tenancy. This helps us to reduce the risk of issues arising from tenants who have a deteriorating financial status.
Our Eviction Protection Service protects you where the tenant fails to pay the rent during the first 12 months of the tenancy and continues to occupy the property without your agreement.
Concerns over future changes to legislation
Unfortunately, future changes to legislation is out of our hands, however we always explain new legislation to our landlords and ensure that they can understand and follow it. When legislation changes, we adapt our Landlord Services to ensure that we comply with all new laws and ensure our clients’ position is maximised.
Please enter your details and get a free instant valuation of your property
The tenant’s fee ban
As you may be aware, there is a new legislation coming into play from 1st June 2019. Tenants will no longer be required to pay fees when renting a property, but what does this mean for landlords?
Landlords who have relied upon charging tenants for their costs or who have used agents who have proportionally charged tenants high charges to keep landlord charges lower will have to make significant changes over the coming months.
As a business, we have always looked to charge tenants fairly but have now developed our business model to ensure that prior to the ban we have products and services to attracts the very best tenants to our landlords’ properties.
We will release an article closer to the time with all the information you may need to know as a landlord.
Making enough profit & local rental values
Market Appraisals are conducted by local property experts who understand the market in your area. To ensure you are letting your property at a competitive price and you have strategies in place to maximise this price through long-term quality tenancies, please book a free, no obligation market appraisal with us.
The £0 Deposit Replacement Scheme gives landlords the opportunity to possibly increase the gross rental amount when letting their property as the tenant benefits by not providing an upfront deposit.
At Chancellors our motto is to achieve the best price and within a time frame that suits you. Please visit our landlords page to see how we can achieve this.
*Internal data correct as of February 2019