There is much more to letting a property than many people realise. Existing Landlords, who have got there feet wet in this industry will have learned from experience that it can be a rewarding investment strategy but it does also bring a host of legal, time-sensitive, administration and maintentenace tasks.
LifeStyle are the longest serving Letting Agents in Bradley Stoke and the surrounding areas of North Bristol. We have over 25 years experience and over 1000 managed clients (not to mention the clients we help on an individual basis) and we pride ourselves on being a knowledgeable partner to work with on letting and managing property.
Our rates are extremely competitive and we provide a huge host of services under the umbrella of one fee, rather than charge you for a number of bolt-ons. We provide the full service - not just a few bits!
Finding a tenant
LifeStyle have a huge, more than 25 year old database of repeat tenants that have had previous checks, and are known to us. Many of our tenants utilise our services time and again as we keep our fees low to ensure their budgets can afford
to rent a property as well as providing a deposit payment. In turn this helps the Landlord secure good, financially viable tenants.
Internet Portals play a huge part in modern letting. The membership is very costly but LifeStyle invests in all the major portals, including Rightmove and Zoopla as well as a huge list of other sources. This ensures the landlords property receives maximum exposure and piggy backs on the massive marketing budgets that the portals spend on Internet, Television, Radio, Press and direct mail campaigns.
Managing your properties - is really worth considering!
There is a whole host of reasons for letting LifeStyle manage your properties. Most Landlords go this route first time and some
go for management after they have had to personally deal with tenant issues.
Rent Collection & Debt Management
You would be forgiven for thinking this is a simple task. Sometimes it is. However, it can become quite difficult to work with your tenant if they don't pay your rent on time, or only part of it.
How would you deal with this ? Quite often, as part of our debt management programme at LifeStyle, we have to call, email and text message tenants to remind them to pay their rent. Sometimes, like all of us, tenants fall on hard times and are unable to pay their rent.
Its not common, but its a process that you have to stay on top of and within the law. We do everything we can, including property visits, to ensure your rent is paid, on time, in full - and put in to your bank.
It is a legal requirement to hold a tenants deposit in a UK Government backed deposit scheme. In addition to handling the money and the registration, the Landlord is legally responsible
for serving notices of the "prescribed information" as well as the administration and challenges of returning deposits less any deductions. This is not always a happy conversation. LifeStyle have a wealth of experience in handling
deposits as well as compliance procedures to ensure that the correct legal notices are served and staff trained in mediation - a handy skill for tenants that do not always accept that they may have caused some issues.
Tenants will need to contact the property manager for emergencies. This can and does also mean throughout the night at times. LifeStyle offer out of
business hours service for emergencies as part of its overall management service, ensuring you, the Landlord, are not disturbed in the early hours.
Legal Safety Requirements
Currently all rented properties must have a yearly gas safety check as well as fitted and annually checked smoke/carbon monoxide alarm.
LifeStyle, keep detailed records of when items were last inspected and arrange new safety inspections ahead of time, so that the tenants are safe, the Landlord is compliant and their assets are protected.
Unfortunately, sometimes things go wrong. Whether strong winds have blown a fence panel down or perhaps the boiler has stopped working.
We try very hard in trivial cases to walk tenants through the process of sorting their issue and in some cases attend the property to assist.
However, LifeStyle, work first and foremost for the
Landlord and ensure that any money that you spend on repairs is for the right reasons.
We investigate if its a Tenant issue or ware & tear or simply failure and get a number of competitive quotes of service for you to choose from.
You, the Landlord, are consulted and kept in the loop every step of the way.
Guaranteed Rent - Even if your tenant doesn't pay
Many Landlords will be using a part-mortgage to aid their property investment and non-payment of rent will affect the payment of the mortgage.
This is a serious implication as it can affect the Landlords credit rating and the very asset that is being rented. Bundled with LifeStyle's silver
and gold management package is "Rent Guarantee" insurance and in the unlucky event that the Tenant doesn't pay his rent, even after the debt management process, the rent will
be refunded to you in full. LifeStyle work very hard to avoid this - but when necessary, this is complete peace of mind.
Contracts, Notices & Disputes
There are strict laws on how you draw up an agreement between a Landlord and Tenant and how notices are served. These laws dictate various different terms that can be set in a Tenancy Agreement, which is used to protect both parties and their respective interests.
For example, the shortest tenancy has to be 6 months, regardless if the Landlord or Tenant require a shorter period.
LifeStyle's compliance department will provide the relevant Assured Shorthold Tenancy that
suits the Landlords interest and creates a binding contract that both parties can rely on. This contract enables the Tenant to rest assured that their obligations and rights are adhered to
and the Landlord's interest in rent payment, security and maintenance of his property asset is properly laid out. This document sets the precedent for all future requests regarding the tenancy and ensures the deposit repayment
including deductions, serving notice to leave the property and ensuring rent is paid up-to the correct date, is all legally binding.
The lettings market is very buoyant in recent years and with the last recession has led to more investors placing their money in property.
LifeStyle are not in the business of advocating high rents that Tenants simply can't afford. However, approaching rent logically with a firm
relationship to demand, inflation and other rises in revenue - we ensure that the Landlord is receiving the correct and fair rent for the asset that is let.
This can be a difficult subject to handle and honestly, the valuation is not always about revenue. LifeStyle understand lettings and the local market.
Sometimes, it's better to have a good Tenant, that's paid a fair rent with little repairs or issues for a number of years versus charging a higher rent and losing a
decent occupier of the property. LifeStyle always consider the greater good and provide advice accordingly.