Do you have a property that you are hoping to let out? If so, you might be looking to take on a letting agent.
Whether you’re new to the world of buy-to-letting or not, you may be asking yourself ‘Which letting agent should I choose?’
To try and help, we’ve put together our advice on choosing a letting agent.
Why go with a letting agent?
While some landlords choose to manage their property alone, letting agencies are still hugely popular. Whether to choose an agency or not is down to the individual situation.
What is the role of a letting agent?
The role of a letting agent varies, depending on what you’re looking for. Their role can range from simply providing a tenancy agreement to full-on maintenance of the property.
Most letting agents will offer to collect the rent and deposit on behalf of the landlord, while many letting agents also offer extra services.
These extra services can vary from tenancy vetting’s to full-on maintenance and ensuring any damage costs are reimbursed.
What are the advantages of choosing a letting agent?
While a letting agent will entail fees, there are numerous advantages alongside this.
1. Firstly, letting agents will be regulated. Ensure that the one you choose is a member of a trade association, such as NAEA (National Association of Estate Agents) or ARLA (Association of Residential Letting Agents).
2. Secondly, a letting agent will have a full understanding of the buy-to-let market. If you’re a first-time landlord, it’s likely that you will benefit from this knowledge! This expertise should result in the process running more smoothly.
3. Finally, choosing a letting agent will mean that you won’t have to navigate the world of buy-to-let alone. An agency will have a dedicated team in place to manage any property related issues.
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How to choose a letting agent
Once you’ve decided to go with a letting agent, it’s important to detail what service you’re looking for. There are many other factors that should go into your final decision.
You’re entrusting your property to a third party, so it’s not an easy choice to make!
Marketing and advertising
It’s important to remember that using a letting agent will cost you money.
Therefore, when considering the question ‘Which letting agent should I choose?’ you should look closely into their marketing strategy.
If their advertising is effective and they are proactive in their marketing, you will know they’re more likely to find you a tenant.
Enquire into which newspapers they advertise in.
Also, ask them to show you which potential tenants they have on their books. They should prove that they will make it their mission to see your property let out!
Listen to recommendations
An important factor in choosing a letting agent is their location. Our advice is to choose an agency in your property’s area, so you can take advantage of their local knowledge!
When choosing a letting agent, it’s important to ask around for recommendations. Listen to those who live in your area, for example other landlords, who can be found through a local landlord association.
Word-of-mouth can be a reliable source of information!
Understand their fees
You need to be clear on how an agent’s fees are organised. You don’t want to be caught out with any unexpected costs!
An agent’s fees tend to be organised either as a fixed fee, or as a proportion of rent. Fees are completely dependent on each agency itself.
One way to ensure that a letting agent is reputable is by checking that they have insurance. An agency should be able to prove they have CMP (Client Money Protection) in place.
Also, ensure that you have landlord insurance, to protect you in the unlikely event of the misappropriation of money.
In understanding an agency’s fees, you need to understand what is meant by ‘guaranteed rent’. While this sounds appealing at first, it has its drawbacks.
If an agency offers guaranteed rent, it’s likely you will receive a lower price. However, you will also avoid periods of no rent at all.
Make sure you fully consider your decision!
Check the contract
While this sounds obvious, it’s essential.
Checking the contract can help avoid some costly surprises.
You need to be clear on everything from cancellation periods, to whether there are any vacant property charges.
Aside from the fee for when new tenants move in, do they charge commission also?
Make sure you understand all the clauses within your contract.
Remember maintenance
Your letting agency should detail whether they will run safety checks, for example annual gas readings, or if this is down to you.
Consider routine repairs. Will there be any extra costs for the general maintenance of your property?
Being a landlord can be tough! As your property is your livelihood, we believe in protecting it. With No Letting Go inventory services, we can help you safeguard your property. Our full check-in and check-out service can ensure a hassle-free and impartial inventory check. Find out more about how we can help you here.
No Letting Go are proud to support the Association of Independent Inventory Clerks (AIIC) in their bid for mandatory inventories for all private residential tenancies. An independent inventory ensures there’s no room for ambiguity during the check-in and check-out procedures – this dramatically reduces the number of deposit disputes.
Evidence of Fulfilled Landlord Obligations
We would like to go a step further. There are some health and safety requirements no landlord can ignore! We feel inventories should be combined with compliance reporting. A detailed inventory at the start and end of a tenancy can act as a crucial document which acts as evidence of a landlord fulfilling their health and safety obligations.
The report could also work as evidence of a landlord complying with:
- Smoke and carbon monoxide alarm regulations 2015
- Fire and furnishing safety regulations 1988
A Duty of Care
Nick Lyons, CEO of No Letting Go spoke to Landlord Today regarding the topic:
“Independent inventory providers have a duty of care to protect the interests of both landlords and tenants alike. The government has introduced legislation to protect tenants but with no real effective means to monitor it.
“The introduction of a compulsory combined inventory and compliance report for all let properties compiled by trained, independent professionals will help ensure that landlords meet their legal responsibilities and assist the government and trading standards to police the landlord’s requirement to protect tenants.”
Why Is the Petition Important?
The petition is being put forward by the AIIC. This is to encourage the government to introduce mandatory inventory reporting as part of its ongoing plans to increase regulation in the Private Rented Sector.
The AIIC sees mandatory independent inventory reporting as the next step from the 2007 introduction of compulsory tenancy deposit protection. This is because there’s not been additional legislation concerning the documents or evidence needed to resolve deposit disputes.
Danny Zane, joint chair of the AIIC explains:
“With this in mind, regulating independent inventories really is a no-brainer for the government. An independent and professionally compiled inventory offers protection to both tenants and landlord and can prove invaluable in the event of a tenancy deposit dispute.”
Irrelevant of whether mandatory independent inventory reporting becomes a legal requirement, there is still an abundance of benefits for landlords, letting agents and tenants. An independent body like No Letting Go can take the hassle and strain out of the process while dramatically cutting down on disputes. Find out more about how we can help your inventory process here.
If you fancy turning your hand to property investment but unsure where to start, we’ve got it covered. We’ve taken a look at the best place to invest in property in the UK. To work this out, we’ve looked at the average rental yield all UK cities and ranked them accordingly. We’ve worked this out by looking at the average property value and average annual rent in each city. Where does your city rank?
Ranked from bottom to top by average rental yield percentage, here are the results…
68. St Albans – 2.76%
Average property price: £581,041
Average rent: £1,336 pcm
67. Truro – 2.85%
Average property price: £320,611
Average rent: £761 pcm
66. Worcester – 2.87%
Average property price: £260,039
Average rent: £623 pcm
65. Chelmsford – 3.04%
Average property price: £387,413
Average rent: £982 pcm
64. Salisbury – 3.08%
Average property price: £341,338
Average rent: £876 pcm
63. St Asaph – 3.1%
Average property price: £225,104
Average rent: £581 pcm
62. Hereford – 3.14%
Average property price: £249,947
Average rent: £655 pcm
61. Ripon – 3.2%
Average property price: £290,495
Average rent: £774 pcm
60. Lichfield – 3.2%
Average property price: £291,353
Average rent: £777 pcm
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59. Wells – 3.31%
Average property price: £308,536
Average rent: £850 pcm
58. Cambridge – 3.34%
Average property price: £455,104
Average rent: £1,268 pcm
57. Winchester – 3.36%
Average property price: £548,755
Average rent: £1,537 pcm
56. Chichester – 3.4%
Average property price: £428,867
Average rent: £1,214 pcm
55. Wolverhampton – 3.44%
Average property price: £188,146
Average rent: £539 pcm
54. Bath – 3.44%
Average property price: £444,257
Average rent: £1,274 pcm
53. Gloucester – 3.47%
Average property price: £230,997
Average rent: £668 pcm
52. Chester – 3.5%
Average property price: £254,681
Average rent: £742 pcm
51. Perth – 3.5%
Average property price: £202,679
Average rent: £591 pcm
50. Exeter – 3.52%
Average property price: £293,069
Average rent: £860 pcm
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49. York – 3.55%
Average property price: £282,874
Average rent: £837 pcm
48. St David’s – 3.56%
Average property price: £234,104
Average rent: £695 pcm
47. Peterborough – 3.7%
Average property price: £217,668
Average rent: £672 pcm
46. Carlisle – 3.73%
Average property price: £157,070
Average rent: £488 pcm
45. Ely – 3.8%
Average property price: £295,045
Average rent: £935 pcm
44. Norwich – 3.9%
Average property price: £265,871
Average rent: £864 pcm
43. Leicester – 4.01%
Average property price: £216,421
Average rent: £724 pcm
42. Bristol – 4.03%
Average property price: £314,629
Average rent: £1,057 pcm
41. Canterbury – 4.07%
Average property price: £335,782
Average rent: £1,138 pcm
40. Lincoln – 4.07%
Average property price: £192,423
Average rent: £653 pcm
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39. Wakefield – 4.08%
Average property price: £177,810
Average rent: £605 pcm
38. Derby – 4.12%
Average property price: £194,951
Average rent: £669 pcm
37. Lancaster – 4.25%
Average property price: £191,729
Average rent: £679 pcm
36. Dundee – 4.28%
Average rental price: £156,781
Average rent: £559 pcm
35. Southampton – 4.36%
Average rental price: £289,546
Average rent: £1,053 pcm
34. Hull – 4.43%
Average rental price: £133,306
Average rent: £492 pcm
33. Newry – 4.44%
Average rental price: £146,353
Average rent: £542 pcm
32. Oxford – 4.46%
Average property price: £503,570
Average rent: £1,870 pcm
31. Stoke-on-Trent – 4.53%
Average property price: £143,358
Average rent: £541 pcm
30. Bradford – 4.53%
Average property price: £129,444
Average rent: £489 pcm
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29. Aberdeen – 4.58%
Average property price: £197,352
Average rent: £753 pcm
28. Preston – 4.6%
Average property price: £179,405
Average rent: £687 pcm
27. Inverness – 4.68%
Average property price: £177,736
Average rent: £693 pcm
26. Newport – 4.71%
Average property price: £165,970
Average rent: £651 pcm
25. Stirling – 4.78%
Average property price: £194,439
Average rent: £775 pcm
24. Brighton & Hove – 4.79%
Average property price: £385,220
Average rent: £1,537 pcm
23. London – 4.8%
Average property price: £672,390
Average rent: £2,692 pcm
22. Newcastle – 4.81%
Average property price: £203,524
Average rent: £816 pcm
21. Sheffield – 4.91%
Average property price: £187,360
Average rent: £767 pcm
20. Sunderland – 5.02%
Average property price: £139,518
Average rent: £584 pcm
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19. Derry – 5.12%
Average property price: £110,884
Average rent: £473 pcm
18. Glasgow – 5.21%
Average property price: £175,623
Average rent: £762 pcm
17. Lisburn – 5.36%
Average property price: £143,435
Average rent: £641 pcm
16. Plymouth – 5.47%
Average property price: £200,655
Average rent: £914 pcm
15. Cardiff – 5.6%
Average property price: £233,833
Average rent: £1,092 pcm
14. Belfast – 5.72%
Average property price: £153,310
Average rent: £731 pcm
13. Swansea – 5.74%
Average property price: £167,147
Average rent: £799 pcm
12. Liverpool – 5.78%
Average property price: £164,838
Average rent: £794 pcm
11. Portsmouth – 5.81%
Average property price: £227,041
Average rent: £1,100 pcm
10. Edinburgh – 5.89%
Coming in at 10th place is Scotland’s capital Edinburgh. The city is a highly desirable place to live and is a huge cultural hub north of the border. Having said this, property prices are relatively low while rent remains high. This means, Edinburgh is a great place for any landlord to build a portfolio.
Average property price: £268,989
Average rent: £1,320 pcm
9. Nottingham – 5.97%
With a popular university paired with high standard of living, property investment in Nottingham could be a money maker. With a 5.97% average rental yield, this is a serious consideration for anyone looking to make money.
Average property price: £188,609
Average rent: £939 pcm
8. Birmingham – 6.27%
Proclaimed to be the second city in the UK, Birmingham was guaranteed to feature high in this list. The property prices are in line with much of the midlands while rent is high. The popular university also prevents an opportunity for those considering student lets.
Average property price: £188,235
Average rent: £984 pcm
7. Armagh – 6.42%
The Northern Irish city is claimed to be the fifth-least-populous city in the UK. Maybe that goes some way to explaining the low property prices. Rent, at least, is in line with the surrounding area.
Average property price: £105,815
Average rent: £566 pcm
6. Manchester – 6.5%
Though Birmingham takes the title of Britain’s second city, Manchester seems to be stealing the attention. It’s a highly favourable place to live, especially among the younger generations who seek a buzzy metropolitan area. This has led to rent remaining high while property prices sit in line with much of the north of England.
Average property price: £175,872
Average rent: £952 pcm
5. Coventry – 6.64%
Coventry storms ahead into 5th position in our list. As the ninth largest city in the UK, it’s no surprise it features high. The city is the only Midlands spot to break the £1,000 average rent mark.
Average property price: £195,255
Average rent: £1,080 pcm
4. Durham – 6.71%
At the business end of the list we find north-eastern city of Durham. The location is renowned for its beauty and highly respected university. There are plenty of reasons why people are attracted to the city, an alluring potential for investment.
Average property price: £159,146
Average rent: £890 pcm
3. Leeds – 6.89%
Another city that people are naturally driven to. Leeds is metropolitan city renowned for its shopping, nightlife and culture. If you consider the high rent prices and relatively low property prices, you may find yourself building a portfolio here.
Average property price: £204,644
Average rent: £1,175 pcm
2. Salford – 7.53%
If you’re looking to invest in Manchester, you may do better by looking to neighbouring Salford. The city offers similar average rent but with a reduction in average property prices, a win-win!
Average property price: £156,118
Average rent: £979 pcm
1. Bangor – 9.42%
The best place to invest in property in the UK is Bangor – an exceptional opportunity for anyone considering property investment. The house prices are aligned with the local area and pretty low. The average rent is considerably higher, exceeding £1,300 pcm.
Average property price: £169,148
Average rent: £1,328 pcm
All figures accurate on date of publish.
If you’re considering becoming a landlord, don’t get caught up in messy deposit disputes. We can help. Find out how No Letting Go’s inventory services can remove the hassle from the situation.
When starting out as a landlord, it can be difficult to keep track of all your legal obligations. We thought we’d offer a little helping hand. We’re shedding some light on landlord responsibilities and your health & safety obligations. Don’t cut corners here, it’s important to get this right.
Gas Safety
As a landlord, you need to take gas safety seriously. Make sure all gas equipment is installed and maintained by a Gas Safe registered engineer. Every appliance also needs an annual gas safety check by a registered engineer. By law, you must get a Gas Safety Certificate every twelve months. You need to provide a copy of this to new and existing tenants within 28 days of the check.
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Electrical Safety
Any electrical system or appliance in your property must be safe to use. By law, you are responsible for the general electrical system as well as the safety of appliances you provide, e.g. cookers, kettles, toasters, washing machines etc. Ensure all appliances are tested by an electrician and display the PAT (portable appliance test) sticker clearly on the plug.
Fire Safety
This is another crucially important area of responsibility for landlords. You must follow fire safety regulations. You must provide smoke alarms on each storey of your house, this can be either mains or battery operated.
You also have to provide a carbon monoxide alarm in any room with a solid fuel burning appliance (e.g. coal fire or wood stove). There is no legislation requiring you to fit a carbon monoxide alarm in a room with a gas burning appliance (e.g. boiler or gas fire). Despite this lack of regulation, many landlords and agents are choosing to supply CO alarms in these rooms for peace of mind.
An overlooked part of legislation is that all landlords must ensure the alarms are in working order on the start date of each new tenancy. This is the case even if a new tenant doesn’t move in till after that time. You must provide evidence that an alarm is in working condition from the start date, an ideal way of doing this is via a thorough inventory check-in procedure.
You must ensure tenants have access to adequate escape routes at all time, this includes preventing obstructions. If you supply a furnished property, you must ensure that all furniture is fire safe.
If you’re letting a large house in multiple occupation (HMO), you’re required to provide adequate alarms and fire extinguishers.
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The Responsibility of Repairs
This can be a sticky topic. As a landlord, you’re responsible for the majority of repairs. Here’s a list of repairs you must carry out:
- The property’s structure and exterior
- Basins, sinks, baths and other sanitary fittings (this includes pipes and drains)
- Heating and hot water
- Gas appliances, pipes, flues and ventilation
- Electrical wiring
- Common areas like staircases (this will usually be mentioned in the tenancy agreement)
The Housing Health and Safety Rating System
HHRS stands for the Housing Health and Safety Rating System. This is a risk-based evaluation which local authorities use to deem whether a property presents health and safety hazards. If your property is deemed unsafe, your local council can take action. This is something you seriously want to avoid.
How Does the HHRS Work?
Hazards are separated in categories depending on how serious they are. This system also considers the extra risk to the young and elderly.
Category 1 Hazards
Hazards which are the most dangerous and pose the most potential threat to health or safety are labelled as category 1. If your property displays any examples of a category 1 hazard, the local council is obliged to take action. Here are a few examples of category 1 hazards:
- Leaking roof
- Mould on the walls or ceilings
- Rats, pest or vermin infestations
- Broken steps at the top of a flight of stairs
- Exposed wiring or overloaded electrical sockets
- A dangerous or broken boiler
- Excessively cold bedrooms
- Poor security (as a result of lock problems or badly fitting doors, etc.)
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Sometimes it can be difficult to prove your property is in a safe condition before your tenants move in. By using No Letting Go’s inventory services, our full check-in service will be able to record exactly what condition your property is in. This not only removes the potential for deposit disputes but also assists with proving items like fire alarms meet regulations. Find out more about our inventory services for landlords here.
As a landlord, choosing a letting agent can be tough. It’s a decision which needs careful consideration. In recent years, the rise in popularity of online letting agents has presented an alternative option for your portfolio. But which are best? We’ve done the research so you don’t have to. Here’s our guide to the best online letting agents.
What Are Online Letting Agents?
Online letting agents work in a similar way to traditional agencies but don’t have a physical high street presence. From advertising the property to photography and reference checking, most online agencies will deliver all the services required by landlords. They’re often cheaper and don’t come with as many fees (though these do vary from agency to agency).
So, what are the best online letting agents?
Note: All prices mentioned below are for the top/premium/fully managed packages, lower cost alternatives for hands-on landlords are also offered by all agencies featured.
In alphabetical order…
EasyProperty
From the team behind EasyJet, EasyProperty offers professional letting agency services for reasonable prices. Their Complete package includes everything you’ll need, from professional advert creation to the tenancy agreement.
Price: £299 (Complete Package) + costs for additional services.
Gordon’s
Although primarily an online estate agency, Gordon’s also covers lettings too. The team accompany viewings and negotiate on your behalf. They advertise through the major online platforms and will also produce a full media pack for your property.
Price: Dependent on rent.
House Network
House Network are an experienced online letting agent which puts quality tenants at the forefront of what they do. They do all the legwork for you and their local experts are on hand to make the process as easy and stress-free as possible.
Price: £475 (Premium Landlord Package).
I Am the Agent
Efficient, cost-effective and straightforward, I Am The Agent offers flexibility and simplicity to landlords. Their service allows you to choose what you’d like to receive as part of their package.
Price: £249 (The Whole Shebang Package) + costs for additional service.
LettingaProperty.com
LettingaProperty.com offers all the services of a high street agency but cheaper and with a self-proclaimed ‘higher service level’. In their Platinum package, the agency offers a guarantee that rent is paid on time every month (even if the tenant doesn’t). Home emergency cover with zero excess is also included in this package.
Price: £99 set up fee & £89 per month from collected rent (Platinum Package) + costs for additional services.
Lettingsupermarket.com
Lettingsupermarket.com offers the personal service of a high street agent with the discounted rate of an online platform. With a range of services and a minimum savings of 60% over high street options, this is an attractive option for landlords.
Price: Available upon application.
Make Ur Move
Make Ur Move offers a variety of lettings services, ‘from DIY to VIP’. You can easily upgrade your package at any time, to complement the level of service you require as a landlord.
Price: Dependent on inclusions/exclusions.
Mirus
Mirus utilises the skills and expertise of their consultants to offer an ‘unrivalled professional experience’. With a real emphasis on instilling trust and confidence in landlords, this service is driven forward by a highly experienced team.
Price: £99+VAT (Mirus Two).
My Online Estate Agent
My Online Estate Agent claim to work exactly like the best high street lettings agent but charge a fraction of the price. The site claims to achieve an average of 21 enquiries from interested tenants per property.
Price: £199 (Essentials Plus) + costs for additional services.
No Agent
No Agent is a platform designed by landlords for landlords. They describe themselves as ‘the 21st Century upgrade to landlording you’ve been waiting for’. They offer full property management for a fixed fee, ideal for those seeking a low maintenance rental process.
Price: £45 per month in London, £35 per month everywhere else + costs for additional services.
OpenRent
OpenRent is an online agency designed for optimum efficiency while maintaining quality and security. With transparent and easy-to-understand packages, this is a platform designed to take the stress from a notoriously painful process.
Price: £49 (Advertising & Rent Now Package) + costs for additional services.
Pad
Pad is the UK’s first fully mobile lettings agent. Their tenants verify, offer, sign and pay with the click of a button. They claim to be the lowest cost lettings service and will make you the highest return. They pride themselves on their tech and logistics which gives them an edge on the competition. They currently operate in London, listing properties for 1 – 12 month assured tenancies.
Price: £399 (AST Viewing Package), £199 per room (HMO Viewing Package).
Portico Direct
Portico Direct is an online letting agent that enables landlords to advertise directly on Rightmove and Zoopla without using a traditional estate agent. Their newly developed service is available throughout the UK, and listing on the major portals costs from just £1.
Price: £1 to list the property on Rightmove and Zoopla. Optional extras are £20 for a tenancy agreement, £20 for referencing, £20 for deposit registration.
Purple Bricks
Whether you want to manage your portfolio hands-on or leave the fuss to the agency, Purple Bricks can help. Arguably one of the largest names in the industry right now, this is an online letting agency that’s tried and tested by landlords up and down the country.
Price: Contact for a free no-obligation valuation.
Rentround
Rentround compare letting agent fees & ratings in your area and reduce rental costs for your property. We compare insurance, energy bills, mortgages… and now letting agents.
Rentify
Rentify offers an intriguing offer to landlords. They remove any possibility of voids, arrears or repair costs. The agency will inspect your property and make a rent offer. Once this is agreed, they guarantee rent payment for three years. You leave the rest up to them. This system offers complete security and alleviation of hassle.
Price: On consultation.
Rentlord
Rentlord is an online platform designed for helping self-managing landlords. This allows landlords to manage their portfolio entirely online. This makes the admin and legal work of landlords much easier and stress-free.
Price: £14.99 per month (Premium Plan).
Rent My Home
Rent My Home looks to create a speedy and effective letting process for landlords. They put a large emphasis on transparency, creating a clear and honest package for landlords.
Price: Dependant on package inclusions.
The Online Letting Agents
The Online Letting Agents claim to work differently to other online letting agents. Before sending a lead to a landlord, they get further information from the viewer to ensure that they will be a suitable prospective tenant, saving the landlord time and effort. They also regularly review online advertisements to ensure its always performing its best. Currently, The Online Letting Agents are the highest rated online letting agent on Trustpilot in the categories of property, property leasing agent, property rental agent and estate agent categories.
Price: Tenant find from £89, Property management from £30 per month (set up fee applies)
Upad
The UK’s largest online letting agent. Upad allows landlords to pick and choose the services they want included in the package. When you work with Upad, your property will be advertised to over 10 million potential tenants through sites like Rightmove, Zoopla and prime Location.
Price: £399 (Complete Package).
Urban.co.uk
Described by The Sunday Times as ‘one of the top online agents’ and a winner at the Landlord & Letting Awards 2016/2017, Urban.co.uk comes highly recommended. The agency are proud of their reputation and consistently receive high praise from their customers.
Price: £399+VAT & £79 per month (Full Management Package).
Visum
Operating since 2004, Visum is the UK’s oldest online letting and estate agent. With a track record of working with over 30,000 properties, Visum pride themselves on their rich experience in the industry. The site has been conceived by genuine landlords and estate agents who are able to offer expert help with the process.
Price: £79 (Plus Advertising 3 Month Package) + costs for additional services.
Being a landlord can be tough and stressful. Don’t let deposit disputes add yet another burden to your job. With No Letting Go inventory services, we will safeguard your investment with a meticulously prepared, unbiased inventory at both check-in and check-out stages of the tenancy. Find out more about how our inventory services can help you.
Here at No Letting Go, we’re always looking to expand and strengthen our national coverage. This is why we’re excited to announce the opening of four new franchisee offices. Let us introduce you to the new members of our team.
Sam Wilkinson Open a No Letting Go Office in Preston
With a strong background in property sales, Sam Wilkinson has previously worked with an established estate agency. Originally from Kent, Sam relocated to the North West a number of years ago due to family work commitments.
With her property experience, Sam saw an opportunity for setting up her own inventory business. On her hunt for the perfect inventory software to support her business, she found us. “I came across No Letting Go while looking into their Kaptur software, I was so impressed with their business processes that I decided to join the company”. We couldn’t be happier to have Sam on board in the North West.
John Farrell Open a No Letting Go Office in Uxbridge
John Farrell, from Ealing, enjoyed a long and fruitful career in teaching. John developed a strong interest in property investment. Already a hands-on landlord, he began his search for business opportunities in the property market. This is where he encountered No Letting Go.
“The rental market is such a strong market, I really wanted to find a business opportunity that serviced this industry. No Letting Go has a proven track record as a national brand. It was an easy decision for me to build a business with the No Letting Go team.”
Claire and Martin Parfitt Open a No Letting Go Office in Southampton
Claire and Martin Parfitt, current owners of the Portsmouth office have expanded into neighbouring Southampton. Claire has worked as an inventory professional with large agents and No Letting Go for the last 13 years.
Martin has recently moved from his position as a Facilities Manager to aide Claire in establishing the business. “We are really excited about our expansion plans into Southampton, there are many excellent letting agents in the area in addition to a high level of student lets”.
Tammy and Peter Edwards Open a No Letting Go Office in Peterborough
This month, Tammy and Peter Edwards will be opening an office in Peterborough. After searching for a service business opportunity in the property sector, the couple opted to work with No Letting Go. Extensive research into property inventory businesses led them to us.
“We were really impressed with No Letting Go’s technology, marketing and the Head Office team have been very supportive too. We are really looking forward to working with Lettings Agents and Landlords in the Peterborough area”.
If you’re looking for a lucrative, independent and flexible career in the booming UK property sector, we want to hear from you. Find out how to become a No Letting Go franchisee here.
Stop, breathe and don’t panic. If you can’t afford rent, it can feel like your whole world is about to come crashing down. Don’t stress, you’re not going to be living on the streets. There are plenty of genuine reasons why you could be short this month. How you handle this situation has a huge impact on your future in your current rental. Here’s what you need to know and how to resolve the issue.
Manage Your Budget
If you’re likely to be short of money, the first thing to do is to look at your budget. What money have you got coming in and what money do you have to pay out? Is there any possibility of offering a partial payment to your landlord?
Rent is far more important than a new haircut or the expensive steak dinner you’re planning. If there are any opportunities to cut down your expenditure, do it. Unfortunately, this can be more difficult than it sounds. Sometimes tough sacrifices have to be made. It’s important to ensure you have enough money to actually survive. Food and everyday essentials come first.
If you’ve drawn up a full budget and you definitely can’t afford to pay your rent, it’s time to talk to your landlord.
Communication is Key
The worst thing you can do is ignore the issue. It’s always unpleasant to explain to someone that you can’t make a payment. Forget your pride and be honest. Explain the situation.
When explaining to your landlord that you can’t afford rent, there is some vital information they need to know:
- Why can’t you pay the rent?
- When can the landlord expect their money?
- How can you work together to resolve the issue?
Remember, landlords are people too. They will understand if you’ve fallen on hard times, it’s better to be open and honest. Depending on the landlord, their reaction will vary. Don’t stress, they can’t immediately evict you. There is a formal process in place for this type of issue.
What Happens Next?
Depending on how your conversation with the landlord went, there may be a simple resolution already in place. No matter what happens, expect to receive a formal demand letter from the landlord. This letter will request payment from you and make it clear that legal action is a possibility. Don’t panic, this is normal. This is a formal procedure the landlord is putting in place in case you continually fail to make payment.
Guarantor Letters
If you still haven’t paid 14 days after the rent is due, the landlord can send a letter to your guarantor (if you have one). Again, communication with your guarantor is vital. You may be able to seek help from a close friend or loved one. Don’t let your guarantor be surprised by your rent arrears.
Section 8 Notice
If you’ve gone a month without paying and a second payment is due, you officially have two months of rent arrears. This means the landlord (under the Housing Act 1988) can apply to reclaim their property. They can serve a Section 8 Notice which is a formal notification that the landlord wishes to take you to court if you don’t pay the arrears within the next 14 days.
Losing Your Deposit
This may seem obvious but if you have rent arrears, the landlord can legally keep your deposit. This may not recover all the owed rent but it could be helpful if you’re entirely unable to make payment.
A Word of Advice
We know that finances can be a huge burden at times. Unpredictable situations can turn your life upside down. Debt is a hugely challenging issue for many people. Don’t struggle on your own. There are plenty of debt charities like StepChange out there who can help put you back on course. If you’re struggling to talk to your landlord about arrears, they can help.
Being open and honest with your landlord about your financial issues can make you feel a lot better about the situation. You may even be able to avoid those sleepless nights. Remember, landlords don’t want the hassle of taking you to court or evicting you. Try to come to an amicable resolution that keeps all parties happy.
No Letting Go’s Inventory Services
Have you struggled with landlords over deposit disputes? Don’t have the same issue in the future. No Letting Go’s inventory services can help. We offer a full, professional and impartial check-in and check-out procedure to ensure a hassle-free inventory process. Find out more about how we can help you.
We are very proud to announce yet another success in franchisee Rachel Farr’s career with No Letting Go. Rachel has been handpicked as a finalist for the Woman Franchisee 2017 EWIF Awards. Being shortlisted for this prestigious award comes only months after she won the NLG franchisee awards for Best Regional Office, Busiest Office, Customer Service and Franchisee of the Year. Here’s her story so far.
The Beginnings
Rachel initially purchased the Bath franchise in 2014. Originally attracted to the reporting technology, Rachel saw an NLG franchise as an opportunity to step into a management role and quickly grow her business.
By 2016 Rachel was running the top performing office for No Letting Go, delivering over 200 property reports every month. She quickly saw the growth she was craving as her team soon grew to five members. Rachel developed her own mentoring and quality checking programme on top of that already provided by Head Office. This reiterated the core values of No Letting Go, and delivered a service that’s consistent, reliable and accountable.
A Motivated Team
Rachel’s ongoing care and attention to the service her team provides has led to a consistent and motivated team. Something which isn’t easy for solo workers to achieve. Each individual working for Rachel knows exactly what’s expected from them and are confident in her ability to guide them through any issues they encounter.
Each of Rachel’s team is self-employed. This adds an additional responsibility to her position. She must ensure each member has a consistent workload to support themselves. Rachel understands these needs and as a result ensures everyone supplies the very best level of customer service.
Business Development
Rachel takes an impressive approach to business development. In 2016, she completed a database of every letting agent within a 50 mile radius. She also maintains regular contact with all members of this database. This not only boosts NLG brand awareness massively but has led to an impressive reputation in the area. Being widely acknowledged for her reliability and quality, Rachel’s business development actions have led to a 39% increase in active clients in a year. The majority of which came from letting agent recommendations.
No Letting Go Development
Rachel’s key approach to business development doesn’t only stop with her personal ventures. She has also been a key player in regional improvements. She works closely with her three neighbouring franchises to support each other, share ideas and attend regional conferences. She has also worked with NLG Head Office to aid in the ongoing development of our technology. Rachel not only invests her time to understand her customers but does the same with her team and business too.
Family Life
All this is made even more impressive when hearing that Rachel welcomed her second baby into the world last year. Working through her pregnancy, Rachel continued to strive for building her business, reputation and team. Moreover, four members of her team also have to juggle their work with young families making their achievements even more remarkable.
The EWIF Awards
The EWIF Award ceremony will be held on Tuesday 16th May 2017. We will be sure to notify you if Rachel wins the Woman Franchisee Award. Everyone at No Letting Go wishes her the very best of luck.
If you’re interested in mirroring Rachel’s success and getting involved in a No Letting Go franchise, we want to hear from you. You can find out more about becoming a franchisee here.
It’s the three words landlords despise: wear and tear. But what does it actually mean? Is wear and tear an excuse for carelessness or can it be measured? Where does wear and tear end and damage begin?
We understand exactly how confusing the issue can be. We also understand how it can reflect upon a landlord or tenant. That’s why we’re bringing you our guide to fair wear and tear to offer some answers and solutions.
What is Wear and Tear?
This question is certainly a tricky one. The truth is, wear and tear differs from situation to situation and there are many grey areas.
Having said this, common sense must always be placed at the forefront. If you fit fresh white carpet in a bedroom, you can’t expect it to remain fresh and white a year later. If that same carpet is burnt and stained with red wine marks, it can be considered damaged.
There are a few key points that affect the definition of fair wear and tear:
- Length of tenancy – the longer the tenancy, the more wear and tear you’ll see.
- Number of occupants – the more occupants in a property, the more likely there’ll be wear and tear.
- Age of occupants – when there’s children in a property, there’s a higher chance of wear and tear.
- Quality of the property – if you’ve got a newly refurbished property, there should be little wear and tear. Having said this, wear and tear in new properties is far more apparent.
Negligence and Recklessness
If something requires repairing or replacing, intensive cleaning or the care of a specialist, it’s most likely been damaged. Holes in walls, burn marks and broken furniture are all examples of damage. It’s worth asking whether the issue has come about due to negligent or reckless behaviour.
How to Prevent Wear and Tear?
One of the best ways to deal with this problem is to prevent it from happening in the first place. If you want to maintain the original condition of the rental property, there are a few handy tips to keep any issues to an absolute minimum:
Decorate Appropriately
Don’t create a showroom house which looks perfect but will never be used. Furnish your rental appropriately for the property you have. This means opting for the durable fixtures and fittings which will stand the test of time. Buying cheap is tempting as a landlord but you’ll forever be replacing items.
Keep the Property Clean and Well Maintained
It sounds so simple but this really does go a long way. You set the acceptable standard for your tenant. If the property is immaculate when they move in, they’ll want to keep it that way, minimising cleaning costs at the end of the tenancy. Regular property maintenance will also help to avoid any nasty surprises at the end of the tenancy.
Be a Good Landlord
Again, this is pretty much as basic as it comes. If you keep the tenant happy and show your professionalism, especially in the event of a dispute, they’re more likely to treat the property with respect. Be prompt in addressing repairs and maintenance issues.
Make yourself easily available. If you show that you care, they will too.
Look for Long Term Tenants
This can be a little tricky but it’s worth it in the long run. Look for tenants that will actually stay at your property for an extended period of time. These long-term tenants are more likely to take pride and ownership of your property.
Regular Inspections
There are some very clear rules on how you must approach a landlord inspection – you can’t just turn up and take a look around.
Schedule in a quarterly inspection and make note of any wear and tear or damage before it gets too far. Address the issue there and then if needed. Inspections are a great way of quelling problems before they get too far.
Set Your Expectations
There’s no harm in outlining your expectations in the tenancy agreement from the very beginning. Explain to your tenant that the property will require regular cleaning and maintenance to ensure it stays in a good condition. Wear and tear in your property is just as important as any other property-related issue (such as unpaid rent) and should be treated as such.
One way to set your expectations is to provide tenants with a pre-check out service that gives them a better picture of the tasks they need to complete before giving back the keys. This can minimise wear and tear, prevent disputes and result in a smoother transition period.
What Constitutes Wear & Tear?
Here are a few issues you may encounter which should be labelled as general wear and tear:
- Small marks/stains on carpets
- Small scuffs/marks on walls
- Naturally worn down carpets
- Loose hinges/handles on doors
- Faded/cracked paint
- Frayed fabric
- Small tears/cracks on furniture
- Faded curtains
- Dirty windows
- Loose/tight tap handles
Examples of Damage
Like the above list, here are a few examples of what can be considered damage:
- Broken locks
- Broken doors
- Tears, large stains or burns on carpet
- Large scratches on wooden floors
- Burnt/split kitchen worktops
- Holes in walls
- Poorly painted surfaces
- Torn curtains
- Broken windows
- Broken toilet seat
An Inventory Check In & Check Out
One of the biggest issues surrounding wear and tear is the tenancy deposit disputes that occur when a landlord and tenant disagrees.
With No Letting Go’s inventory services, you’ll receive the peace of mind which comes with an impartial, fully documented check in and check out procedure. Our service is reliable and consistent producing reports which stand up to scrutiny during any dispute.
A thorough inventory report will provide evidence of the property and its contents at the start of the tenancy and at the end to help landlords and agents cover the cost of any damage made on the premises by the tenant.
Discover our property inventory services today.
They’re the stuff of nightmares, sleepless nights, endless worrying and a bucket load of stress. No landlord wants to be caught up in a rental void period. Unfortunately, they’re pretty common and easy to fall into. This can be really damaging to landlords with a smaller portfolio. Thankfully, there are a few simple tips you can implement to avoid them altogether. Here are our 8 tips for preventing void periods. If you know of any more that could help other landlords, get in touch on Twitter.
1. Properly Maintain Your Property
So, let’s get this one out the way early. There could be an underlying reason why no one wants to rent your property. Ensure everything’s tidy, clean and in a liveable condition. Bathrooms and kitchens are key selling points of your property – do they need any work? Would a quick renovation boost your chances of attracting new tenants? The appearance of your property matters.
2. Advertise Everywhere (and Early)
It’s surprising to some but landlords do require marketing skills. Especially if you’re privately renting, you need to be able to market your property. Advertise your property everywhere you can, from local newspapers to online sites. If you want to stay away from void periods as much as possible, it’s important to advertise your property as early as you can. Don’t wait till the house/flat has been vacated.
3. Charge Reasonable Rent
Don’t inflate the rent you’re charging for the sake of it. Do your research and find out the average rent for the area. Then question how your property compares to the area’s average. Above all, charge a fair rent. You may be tempted to undercut the area’s average rent to ensure your property is seen as more attractive. Be warned, this could change the type of tenant you let to. Consider a deal including amenities if you want to make your listing more appealing.
4. Pick Good Tenants
This is a tricky one but will save you a lot of hassle in the long run. If you can let to good tenants you’ll reduce the risk of sudden changes in circumstance. Unfortunately even the best tenants can have unpredictable lives and there’s no simple way to get around this. Also, it’s very tricky to tell which tenants are genuinely ‘good’. Screening checks don’t tell the full story. The best tenants are steady and secure in their careers and lives.
5. Be Open Minded
It’s always important to have an open mind with potential tenants. Whether they’re looking to redecorate parts of the property or live with a pet, you may not like it but it’s worth considering. A tenant with a pet is likely to be more stable. Whereas a tenant who wants to redecorate will likely see themselves in the property for an extended period of time.
6. Why Not Try a HMO?
If you rent in an area popular with students or young professionals, it may be worth considering turning your let into a house in multiple occupation. You’ll need to adhere to specific licence rules about health and safety but it’s nothing a reasonable landlord couldn’t keep up with. This way, when one tenant moves out, you’re still making money from the other occupants.
7. Upgrade Your Furniture
Back to what we said earlier about how appearance is everything. If you’re offering a furnished property, it may be worth making a few extra purchases. Upgrading furniture will give your property a new lease of life. It could be the difference between attracting new tenants or not.
8. Be Approachable and Professional
Whether you like it or not, as a landlord you could be the reason between a tenant taking your property or not. If you turn up to a house viewing late, wearing sandals and shorts you’ll look unprofessional. Dress well, be prompt, appear approachable and ensure the tenant knows you’re professional.
When you start renting, don’t neglect the importance of a full and accurate inventory. Remove the possibility of disputes with No Letting Go’s inventory services.