Everyone has to start somewhere, and we know how tricky it is to get to grips with all of the legislation that covers rental properties, and all of the obligations you face as a landlord. We have carried out a survey of our new landlords, and the top 5 points that concern new landlords are:
Despite many changes in legislation renting property remains a good investment, so whether you have bought (or are buying) your property as an investment, or are renting a property that you have previously lived in, Maxine Lester are here to help.
As the Law provides little support unless everything is done properly, it is important to be aware of the legal issues and risks and we can manage these on your behalf and help you budget for your rental property as your own lettings business. We have an impeccable record of collecting rents on time (99.2% of rents due were paid within 3 days in 2017) and we are always on hand to explain everything that you need to know.
There must be so much that you want to know when you are becoming a landlord for the first time. There is such a lot to take in and understand – that’s why all of our staff have to attend numerous training sessions and take exams so that they are qualified to assist you. While you may not be able to learn everything, you can rest assured that by choosing Maxine Lester for your letting agent, that all of your legal responsibilities and obligations WILL be covered.
Here are a few points you may wish to know about:
We provide your tenants with a standing order mandate containing the bank details of the account to pay the rent into. We will also give them a reminder to set it up, before the first rent becomes due. If you opt for our tenant find basic service then this standing order will include your bank details, and it is important that you check on the day that the rent is due, to ensure it has been paid in time. For rent collection and property management services, we will be taking care of the payment, chasing if necessary, and sending the rent to your account by bank transfer, usually on the day it is received.
We will only put tenants into your home if we would be happy to put them into our own. It is of major importance for us to choose quality tenants for you, to make sure they pass professional referencing checks and that they do have the legal right to rent in the UK. Once we are certain that the tenants are good to go, we will move them into your property, but not one minute before!
At Maxine Lester we treat your tenants with the utmost respect – after all, they are your customers! Nowadays tenants spend a lot longer in their rental properties than they did in the past, it is no longer a ‘short term housing solution’ but a long term one, with higher expectations of property quality than in the past. Treating tenants respectfully encourages better tenants’ behaviour, which is in your long term interests. That means we have a strong duty of care to tenants and must ensure they live happily in their rental home, with quiet enjoyment (which means that, as a landlord, you cannot just turn up or enter their home without sufficient notice). If you want to understand more about your obligations to your tenants, please just ask us.
We often hear from landlords that ‘they don’t like to keep bothering their tenants’ but we must stress how important it is to keep an eye on your property, make sure that little issues are nipped in the bud, that the property is being looked after to the standards you would expect.
Maxine Lester are experts at looking for the signs that could point to trouble in the long run, and that is why we carry out mid-term inspections quarterly for Landlords who select our property visit package or higher.
Giving your tenant/s a professional inventory at the outset of the tenancy and asking them to check that everything is in order, certainly gives your tenants the right first impression. They know how you are giving the property to them – in good condition, clean, tidy and with everything in working order – and they know that is how you will expect the property to be returned. If you do not provide an inventory, then you really are starting out on the back foot, it will also be unlikely you will be able to make a claim on their deposit for anything at the end of the tenancy because you do not have a 3rd party report to check against. Maxine Lester use the services of local professional clerks whom we are happy to recommend to you.
As with many things, on the face of it renting a property should be simple. If handled properly then it simply takes time and requires a good understanding of the many letting obligations. In fact the Government have produced an easy read guide for landlords.
The guide is helpful but fails to address the risks which arise when things don’t go to plan or limited knowledge creates a problem. Without doing everything in the right way, at the right time, with the right paperwork, then it may mean you can’t evict your tenant. We use experience and established procedures to protect you from these risks. We consider this aspect of our work to be your “renting seat belt”; you don’t have accidents requiring your seat-belts all the time, but you understand the risk you run by not wearing one, so you usually belt up! Don’t forget, a property is a major asset, you really don’t want to hand that over to someone without some proper protection.
You will get an email copy of the completed form for your records.
All staff at Maxine Lester Residential Lettings are trained to a high standard and I have always found Lisa Gadsby very efficien
Every time we have contacted Maxine Lester everyone has been so helpful. We have always had any issues dealt with promptly and...
Excellent service all round, keeping us informed regularly on our property, always contactable and willing to help with any query.