Can we help?
We recently met a really nice chap at a networking breakfast who had built his own house !
Without going into too much detail with him about the financial implications involved, we will have to assume that this self employed person put probably a year of his own time and thousands of pounds of his own money into building a property that he then decided to let out.
He approached us to ask if we would be able to let the property for him – and of course the answer was yes. However, after 5 minutes into the conversation and us offering a very competitive Tenant Find Only fee it was evident that he felt that spending a couple of hundred pounds on a service which included local and website advertising (not the local paper), referencing tenants, preparing a schedule of condition (inventory), drawing up a legally binding tenancy agreement and registering the security deposit was too expensive and he still felt he could do the job himself.
We are not suggesting that once he eventually found tenants that the tenancy would go horribly wrong, but in the short time we were talking with him, we concluded that he was unaware that a schedule of condition was necessary and he didn’t feel the need to take a security deposit because he didn’t know how to register it. So often we hear from Landlords that a Schedule of Condition isn’t necessary because a property is new and empty – they overlook the money spent on decorating, new floor coverings, brand new kitchens and bathroom suites, not to mention the money spent turning a building site into a garden.
Sadly for him, the worse case scenario could be that he finds a tenant privately and his brand new property could end up damaged and dirty losing him thousands with no chance of recouping the costs involved.
We obviously wish him the best, but the moral to this story is that for a very competitive fee private landlords can do it right from the beginning by using a reputable and professional Letting Agent or at least get advice on what Letting a Property actually entails. We offer market appraisals free of charge so what do you have to lose? Being a Letting Agent is not just about advertising empty property!
Landlords, please don’t get caught out – contact us, even if it’s just to pick our brains – We want to work with you and avoid the horror stories associated with private rentals and we think you’ll agree it’s worth every penny.
38 Broken Cross,
Phone: 01305 265869
Mobile: 07941 601809