There is a lot of talk on social media at present about individual landlords setting up their own lettings agencies. This is exactly what the directors of Lifeboat Lettings did four years ago, so we feel qualified to comment on this!
Continue reading Should I Start my Own Lettings Agency and How do I do This?Tag: Landlords
What to do if your tenant isn’t paying the rent.
It is the situation that gives landlords the most sleepless nights: a tenant can’t pay, refuses to pay or simply chooses not to pay all or some of the rent, either temporarily or permanently. This is often – although not always – coupled with increased communication issues, or maybe not being able to get hold of the tenant at all. This very much compounds the level of stress for the landlord.
So what can be done when a tenant falls into arrears and how should a landlord approach the situation?
Here are some of the key steps you must take.
Continue reading What to do if your tenant isn’t paying the rent.Paying for viewings
Does it contravene the Tenant Fees Act? …..
The short answer is ‘Yes’.
There has been much talk on social media platforms recently about a new approach to managing the property viewings process, particularly for ‘in demand’ properties where there may be many hundreds of enquiries from potential tenants and purchasers all looking for a viewing. The challenge for many agents is how to manage this surge of interest, respond to all enquiries and book the most suitable applicants in for viewings. Many of these applicants do not meet the basic financial criteria, or even when booked in for viewings are not genuine proceedable applicants, are ‘time wasters’ or simply do not show up. This adds a huge burden of time and cost into the process for the agent or landlord.
Continue reading Paying for viewingsReposit Scheme
What is it and how does it work for tenants & landlords?
Reposit is an alternative to the traditional tenancy deposit schemes. With a traditional deposit, the tenant pays a large sum (four to five weeks’ rent) which the landlord or letting agent is legally obliged to register with a deposit scheme (see The Housing Act 2004).
Continue reading Reposit SchemeEnd of Furlough: Impact on Landlords and Letting’s Agencies?
This scheme will close on the 30th September. Will this mean tenants’ income dropping and rent arrears growing?
The Coronavirus Job Retention Scheme (commonly referred to as the Furlough scheme) has been a hugely successful and critical lifeline for companies and employees during the pandemic since its introduction in late April 2020.
Continue reading End of Furlough: Impact on Landlords and Letting’s Agencies?
