All posts by Lisamarie

These days, every sort of professional — including letting agents – is active on social media. So, whether you’re new to social media or searching for methods to improve your online presence, you’d be wise to put in some extra work in this particular arena. 

In addition to setting profiles on the web’s most popular social networks, you’ll need to produce fresh material on a regular basis to keep your audience interested. While this may appear overwhelming to social media beginners, maintaining a significant social media presence does not have to be an endurance test. The following suggestions can help letting agents who want to use social media to their advantage.

Provide Links To Your Website 

Social media networks may be an excellent way to promote your own website. Prospective customers will have a clear idea of your company procedures and professional ethics, as well as the sorts of properties you usually work with and your approach to the lettings industry, by visiting your website. You could also include links to pieces you’ve written for well-known property websites or magazines for the most outstanding results. So, if you have any blog entries or instructive articles that you are really proud of, don’t be shy about sharing them.

Use Keywords 

When creating content, make a point of using keywords that your target audience is likely to look for. For example, if you want people to see a certain listing, consider putting in phrases that people are likely to search for, such as ‘two-bedroom house in Sevenoaks‘ or ‘flat close to Edenbridge station‘ might get your posts seen by those who aren’t part of your standard following base. Because the search capabilities on social platforms work similarly to traditional search engines, keyword integration might be beneficial to your social media exposure efforts.

Interact With People 

The ability to quickly engage with companies and the public is one of the handiest elements of social media. This, of course, also applies to letting agents. The more responsive you are when it comes to people’s comments and questions, the more friendly you look – and the more approachable you appear, the more likely it is that clients will use you the next time they need to find a home or a renter.

It is critical to be careful of your tone and word choices while communicating with individuals on social media. When you are not engaging someone face-to-face, it is extremely easy to come across as abrupt or nasty, and you should keep this in mind whenever you react to a remark or inquiry on social media. Additionally, try not to keep them waiting for too long for a response. No one likes being kept waiting, and the longer you take to reply, the less prospective consumers will believe that their requirements are important. So, if a question is asked within normal business hours, try to answer as soon as feasible.

A landlord’s or their agent’s losses after a tenancy may surpass the deposit value in rare cases. When a landlord or letting agency seeks to collect more than the deposit value, the landlord and agent may believe that moving to court is essential. However, it’s actually essential to understand that litigation is always a last resort. 

Even if the alleged losses certified by an inventory service business exceed the deposit value, it may be wise and cost-effective for a landlord or agent to first use an Alternative Dispute Resolution (“ADR”) service and then recover the balance in court.

By doing so, a landlord and agent have demonstrated that they have made all reasonable measures to avoid going to court and, as a result, have complied with the Overriding Objective of the Civil Procedure Rules. In such cases, an adjudicator’s review of the deposit claim would generally end after the deposit monies are depleted.

Tenant’s deposit, inventory check-out evidence, and landlord’s claim

For example, if the deposit value was £500.00 and there were valid claims for cleaning (£150.00), redecoration (£350.00), and tenancy rent arrears (£300.00) based on the checkout inventory report, an adjudicator cannot award more than the £500.00 deposit value, and the adjudication will end before all claims are resolved.

A landlord may have little choice in such a case but to seek compensation for their additional losses in court. Some schemes will enable landlords or renting agencies to choose the order in which claims should be evaluated; as a result, landlords and agents should be conscious of which claims they want the ADR service to consider first and which claims they want the ADR service to consider last.

A complex damage dispute based on an independent property inventory report, for example, might be resolved through ADR, but an easy rent arrears claim could be resolved in court after the deposit funds are depleted. In any case, a landlord or renting agent must consider the expenses, dangers, and time involved with court procedures and determine whether it is economically or sensible to proceed.

Clear inventory checkout evidence

Suing a tenant who does not have any money may be futile since, while a landlord or agent may be successful in getting a judgment, the terms of payment may require the tenant to pay back the judgment over a long period of time. In contrast, if a tenant desires to file a counterclaim, the only method to do so is through the courts, as most ADR firms would not accept counterclaims against the landlord or agent. This is because deposit protection ADR businesses only deal with claims against deposits.

For example, once an inventory clerk has produced an inventory check report outlining tenant obligations, a tenant may seek to file a claim against the landlord or the agent for failing to preserve a deposit. Such a claim would not be considered by an ADR firm and would have to be decided by a judge.

In any instance, the parties would be advised to seek legal counsel before proceeding to court.

If it’s time for you to make some changes to your investment property because your last tenant has moved out and your next one has yet to be found, you can help make that search a much shorter one. As a landlord, it’s wise to keep your properties looking good, and even to redecorate every time a tenant moves out. With that in mind, here are some of the big interior trends to think about in 2021.

Art Deco

Art deco is distinguished by geometric forms and bright colours. Art deco elements may be seen in tiles, on the staircase, carpets, and light fixtures.

Neutrals

When it comes to interior trends, consider the colours cream, white, grey, and beige. Neutrals are timeless, simple, and relaxing.

Green

This year’s colour trend is sage green (pastel green blended with grey). It’s been spotted in homeware stores and high-street fashion.

Boho

Layers, textures, and patterns in bohemian homes are relaxed. Because it is a personal style, no two bohemian-inspired homes will ever be the same.

Wood

This year’s interior trends include wooden doors and highlight beams, as well as chunky furniture and original flooring.

Typically, investors strive to buy properties for below market value (BMV). Paying less for homes can play a significant role in determining how profitable investment property is. Unfortunately, in an increasingly digital and open world, purchasing a home below market value is becoming progressively impossible.

Investors who want to maximise their returns on their investment property must master the art of negotiating. Experienced landlords and investors will aim to bargain in order to purchase properties at the lowest possible price. Such investors can purchase properties at or below market value by haggling the price down as much as feasible.

Unfortunately, the art of negotiating does not come readily to many people. If you are one of these folks, here are some useful tips for buying an investment property at a good price.

Know Your Seller

Negotiating without first knowing the seller’s motivations might be a recipe for disaster. When viewing a property, try to schedule a viewing with the owner in attendance. If not, take the time to get to know the selling agent. It is critical to understand why the owner is selling the property and how this may influence their selections.

When seeing the home with an agent, ask if you may speak directly to the seller before submitting an offer. The opportunity to communicate directly with sellers and develop a connection will enable you to discover more about their goals and ambitions. If there are numerous purchasers, you may be the only one with whom they are directly communicating, giving you an advantage.

Let The Seller Make The First Move

Making the seller move first can be advantageous. After you’ve established a connection with the owner or agency and persuaded them that you’re a serious buyer, it’s occasionally worthwhile to ask the seller what they’d genuinely sell the home for. By doing so, you are requesting that the seller reconsider the price they are willing to accept for the property. In most cases, they will reconfirm the list price. They may, however, return with a cheaper price, in which case the goalposts will have already shifted in your favour.

Look For Emotional Anchors

Anchors are used by negotiators to reframe a seller’s perspective. A seller may have a specific price in mind, but if you start with an unexpectedly low offer – preferably one supported by a historical comparison – you can utilise this to subliminally peg their expectations to a lower value. Simply said, a low offer that is shockingly low can cause sellers to reconsider their own value assumptions. You must exercise caution not to make an insultingly low offer. Making an offer that is 20-25 percent below the advertised price, on the other hand, might be a beneficial approach when attempting to negotiate a lower price.

Establish A Range

Rather than selecting a precise anchor point, establishing an emotional range might be beneficial. Instead of making a single low offer, which might put sellers on the defensive, you can make a variety of offers. While their house is advertised for £150,000, other residences in the neighbourhood have sold for £120,000 to £140,000. The seller will still accept the lower end of the range, but making an offer as part of a range will make it more appealing.

Don’t Use Monetary Terms

While most individuals are motivated by the exact selling price, it is not often the sole consideration for sellers. You may utilise this to your advantage if you understand the vendor and what they want to achieve. If they want to relocate but haven’t located the appropriate property yet, you might offer to rent the house to them for a year with a one-month break clause. If they are purchasing a home that needs renovation, offer to put them in contact with a reputable builder you know. In every case, look for ways to offer non-monetary value. When you do this, the seller will see that you are making every effort to provide them a bargain that works for them.

Use Odd Numbers

Precision is provided by odd numbers. When making bids for an investment property, buyers tend to round up to the next thousand. People frequently become fixated on much bigger rounds than this, gravitating for offers to the closest £5,000 or £10,000. The issue is that this encourages vendors to push you to the next rounded offer.

Consider making an out-of-the-ordinary offer as you approach your price limit. Instead of rounding up to £200,000, offer £196,493, for example. The accuracy of this amount can disarm salespeople and persuade them that you have reached your financial limit, deterring them from asking for more. Such offers can be particularly successful when accompanied by an investment statistic.

Give The Seller Control – In Part

It is human nature to feel more at ease when you have control over a situation. Surprisingly, this can be a valuable bargaining weapon for purchasers. Buyers can obtain the results they seek by asking calibrated questions rather than delivering replies. Ask the seller questions that make them feel in control of the discussion while also encouraging them to come up with ideas that benefit you.

If you hit a pricing stalemate, ask the seller, “How can we work together to bring this deal over the line?” Similarly, if the seller appears to be fixed on a specific price, inquire as to why that price is so essential to them. The idea is to get the vendor to feel empathy for you and come up with their own solutions.

When employing calibrated inquiries, avoid starting queries with the word “why,” unless you want the seller to defend an objective that benefits you. The word ‘why’ sounds accusatory and puts sellers on the defensive.

Think About Timing

It may be tough to strike the right balance when it comes to making an offer on an investment property. On the one hand, you don’t want to reply too soon since it would confirm the idea that you were always willing to boost your offer. On the other hand, you don’t want to wait too long because it may indicate indifference or allow other bidders to outbid you.

When negotiating, never reply with a counteroffer right away. Instead, inform the seller or agent that you will examine the offer and will need to double-check the maths before responding. Provide a timetable for when you will respond to them. If you are at work, say you will verify the figures when you get home and respond first thing the next morning.

When you receive a counteroffer, you should use the call to express concerns or questions if the price is too high. You should not reject the offer right away. Instead, you might say that it may be tough for you to achieve that amount or that the counteroffer remains rather high.

Use A Surveyor

When you have an accepted offer, you can make it contingent on a building survey. The advantage of doing so is twofold. To begin, having a trained surveyor examine the property will aid in identifying any structural concerns or expenses. Even the finest negotiators will be out of cash if the home is discovered to have severe structural concerns. Second, if small faults emerge, you may use this knowledge to return to the vendor and negotiate a cheaper price.

Walk Away If You Need To

The goal of being a landlord in the cold light of day is to make money. You must buy properties that will provide a significant rental income or capital growth to justify the time you will invest in them. If not, what is the point of devoting so much time and money to the project?

Buyers frequently make the mistake of becoming emotionally engaged in an investment property. You may have non-financial motives for wanting the transaction to go forward for one reason or another. When this is the case, you are more likely to overspend and make an expensive mistake. Calculate the projected return on the property before making an offer. Calculate the price at which you will need to buy the property in order to achieve your goal return and set it as your maximum price. If the discussions go above this amount, you should be firm and walk away.

Even if you don’t own the house you live in, you want it to feel like your own. As a tenant, this might be difficult at times because you must follow the rules that come with renting. But making your rental property feel like home can be done, and it should be done. With that in mind, here are some pointers to help you make your rental seem more like home.

Add Plants

Greenery can breathe new life into a space. They brighten and bring warmth to your rental property. They may also offer the additional benefit of eliminating toxins and purifying the air around them. You don’t need to have a green thumb for your indoor plants to thrive; there’s plenty of low-maintenance vegetation available.

Use Furniture With Added Storage

We are always in need of more space and your rental property is no different. When a home is cluttered and messy, it can feel uncomfortable and be a constant reminder that this is someone else’s house. Purchasing furniture with built-in storage is a terrific method to store all of the extras that don’t have a home. For that extra space, consider employing coffee tables and footstools with hidden storage. Cabinets can provide more enclosed storage, and bed frames with storage under the mattress or on the sides are also available.

Have Rugs

Rugs are an excellent addition if you are dissatisfied with the flooring in your rental property but can’t change it because the landlord says no. They’re also a great way to personalise a room’s decor. They can offer colour and personality, or they can tone out the room, depending on your needs. A wide rug in the lounge room could provide additional seats on the floor while also making the space feel cosier. If your room is missing in colour, Persian rugs might be a terrific way to bring it back to life.

Install Mood Lighting

Make good use of lighting! Whether it’s a giant, free-standing lamp in the living room or smaller lights in the bedroom, these can add personality to any space. Keeping larger lamps in a room’s corners reduces the disruption caused by going from one area to another.

Upcycle What You Already Have

Sometimes the items you already own may use a facelift. Consider painting or decorating existing furniture. This will give your rental property a new atmosphere without the need for new furniture. When relocating or decorating existing furniture, take care not to harm or interfere with the property.

Take Pride In Your Rental Property

Take pride in your rental property and treat it as if it were your own. This will only help you as a tenant in the future because of your excellent rental history. Taking care of your home also reduces the possibility of losing your deposit when it comes time to move out. As expert inventory clerks in Kent, Surrey, East Sussex, and West Sussex, Looksy Inventories knows that looking after your rental property goes a long way when it comes to your landlord agreeing to return your deposit, and the inventory report being a positive one.  

Whether you’re a seasoned or inexperienced landlord, hiring an inventory clerk is a necessary cost. Even if your budget is tight, an inventory clerk should be considered an essential element of the process and could end up saving you a significant amount of money in the long run. But how do you go about finding the perfect property inventory clerk, and where should you look?

How To Recognise A Good Clerk 

It’s quite easy to discover an inventory clerk online, but hiring the first one you see could be a costly error you’ll soon regret. Even if you prioritise cost-effectiveness, the cheapest choice may not give what you’re paying for.

A perfect property inventory clerk will pay close attention to detail and have a thorough understanding of their work. It is not enough to simply mention everything in your property; it is also critical that the report be formatted in accordance with industry standards. If it does not, a court may refuse to accept the inventory as evidence in the event that it is required.

When creating an inventory report, a clerk should include everything, right down to the door handles and locks. This immaculate attention to detail will supply you with all the information you need to prove the condition of the property and its contents.

Where To Find Your Perfect Property Inventory Clerk

Starting with word of mouth is usually a wonderful place to begin. If someone you trust has previously utilised an inventory clerk, their personal recommendation may be all that is required. If you don’t know someone who can recommend a clerk, you’ll have to do some further research on your own.

Looksy Inventories could be your perfect property inventory clerk. We certainly tick all the boxes. We are:

• Dedicated
• Expert
• Professional 
• Reliable 
• Cost-effective
• Local 
• Experienced 

For more information, including our pricing, please don’t hesitate to get in touch. 

During the tenancy period, a tenant is usually responsible for paying council tax and utility bills. A tenancy agreement will usually state that a tenant is responsible for paying council tax and utility bills when renting, and many disputes arise when a tenant fails to do so.

In such cases, an adjudicator may be presented with a number of unpaid bills that correspond to the length of the tenancy. Nonetheless – and importantly – if the bills are in the name of the tenant, an adjudicator will usually determine that the landlord has not suffered a loss and will not make an award.

This is because the contract is between the utility provider and the tenant, and any loss or liability is thus not the landlord’s responsibility (and would instead be pursued by the utility company against the tenant directly). Alternatively, if a landlord presents unpaid utility bills when renting in the landlord’s name (or at the property’s address), an adjudicator may determine that the landlord is entitled to make a claim against the deposit.

This is because the liability (as stated on the bill) is in the name of the landlords and letting agents for the property, and thus the landlord would suffer a loss. Commonly, this occurs with council tax liability, where a council may not have been updated as to the tenant’s occupation of a property, and the landlord will retain liability for the council tax at the address. A liability in the name of the landlord (or the name of a property) can be recovered against the deposit; however, the standard burden of proof principles will apply.

Postal Services Act 2000

While a landlord may be concerned about unpaid utilities, a landlord and agent cannot open the tenant’s mail without permission, and doing so may constitute a criminal offence under the Postal Services Act 2000. In any case, a landlord should keep in mind that a utility contract is typically between a tenant and a utility provider, and as such, it is not the landlord’s responsibility (or liability) – such correspondence, therefore, should be forwarded to the tenant at their forwarding address, unopened.

However, such a liability would usually arise if the property was left vacant – and a tenant cannot be held doubly liable for council tax on a property where a landlord or letting agent has found a new tenant to offset the impact of a breach of the fixed term. However, if the property is a property of multiple occupations or if a landlord can claim an exemption due to an unoccupied/substantially unfurnished property, the circumstances may be different. In these cases, it may be prudent for a landlord or letting agent to seek legal counsel.

Contact Looksy Inventories Today

Contact Looksy Inventories today to find out more about how an inventory can prevent disputes at the end of a tenancy, and ensure your rental property is safe and secure. Utility bills when renting can even be included, ensuring everyone knows who is responsible.

With all of the responsibilities and risks that come with the role of a landlord, venturing into the world of property can be quite a heart-racing endeavour. However, not only you but also your family can benefit greatly from renting out your home. Continue reading to see how it can be useful to your family and what the benefits of renting out your home really are.

A Source Of Constant Passive Income

Renting out your home is a way to generate passive income. One of the advantages of passive income is the convenience of having money deposited into your account on a regular basis with little to no effort. It can be a profitable venture from which you and your family can benefit quickly. As a landlord, you must ensure that your home facilities are in good working order. This can help you charge the most rent in order to fully reap the benefits of passive income.

The Chance To Do More

Renting out your home allows you to market it in the property market and generate revenue as opposed to leaving it vacant. As your reputation as a landlord grows, more and more people will recognise the value of your property. House location, size, and proximity to nearby amenities are all factors that can increase the value of your home on the market. If you’re renting out your home for a few years, the value of your home will undoubtedly rise. This creates an excellent opportunity to profit from. When you finally find a buyer, you can sell your home for a higher price and make a larger profit.

A Good Starting Point

Dive headfirst into property can be a daunting experience, especially if you plan to start later in life. Renting out your home is a great way to gain this valuable experience. It improves your business acumen and fosters a newfound passion for real estate. Lessons learned as a landlord can help you establish more opportunities, as well as teach you how to manage buildings, finances, and emotions. It broadens your horizons, which can lead to the leasing of many other valuable properties, providing you and your family with a stable source of income to last a lifetime.

Renting Out Your Home Is Your Retirement Plan

When your children reach a certain age, the cost of college and other general expenses begins to skyrocket. By the time you retire, you should have completed your role as a parent. Retirement is a near-term concept associated with wealth, golf, and a life of leisure. In short, now is a good time to settle down and enjoy your golden years in peace. However, have you decided how you intend to support yourself in retirement? Investing in real estate is a capital idea that most people begin when they retire. It can be difficult to grasp without prior experience, and you may make a number of mistakes before mastering the trade. You stand to benefit from renting out your home.

Some people are just a little noisier than others. They may have a louder voice, they may walk more heavily, they may forget their kitchen cupboard doors aren’t soft closing and slam them once in a while, but generally, these people are not too much of a problem. They might cause some annoyance or irritation every now and then, but it’s nothing anyone’s really going to complain about. After all, these things happen.

But some people are noisy in a different way. The ones who get into screaming matches with their partner or children regularly, the ones who have loud parties every weekend, the ones who can’t seem to enjoy their music without the volume being so high everyone in the street can sing along. These are the problem noisy tenants because they are interfering with their neighbours’ quality of life. This is a serious issue, but is it the landlord’s responsibility? 

What Is A Loud Noise? 

In general terms, a noise is considered loud when it disrupts the general lives of those around. The noise itself can be anything from dogs barking to motorbikes revving to heavy footsteps to piano practice. If it’s too loud and it means that neighbours can’t enjoy their own homes, it’s a nuisance issue. 

What The Law Says

When it comes to excessive noise, the good news is that the law is on the side of the person who has to suffer from it, not on the side of noisy tenants. Under the Environmental Protection Act 1990, it states that noise can be considered a statutory nuisance if it “unreasonably and substantially interfere with the use or enjoyment of a home or other premises”. Of course, this can be somewhat subjective, but it’s a start; there is assistance out there. 

What About Landlords? 

So we know what loud noise means in terms of the law, and we know that there are avenues to go down when you’re on the receiving end of things, but what about landlords? Is the noise down to them to sort out? In short, the answer is no. Unless the landlord is a direct contributor to the noise, it’s not their fault, and they are not responsible – after all, you can’t control your tenants’ lives (and nor should you try), so what they do to make noise isn’t your problem. 

Except… although it might not technically be your responsibility, that doesn’t mean you shouldn’t try to do something about it. After all, people are upset, and if noisy tenants mean they all start to move away, your property suddenly becomes much more undesirable. Prices can drop, and that includes how much you can charge for rent. It’s in your best interests to get the issue sorted ASAP. 

What Can A Landlord Do About Noisy Tenants? 

If you are made aware that you have noisy tenants, there are various things you can do. The first, and easiest, is to ask the neighbours to sort it out amongst themselves because, technically, it’s not your responsibility. Of course, as easy as this is to say, it’s not always going to be easy to do, and the truth is that the neighbour has probably already tried this before taking their complaint to the landlord. Or they might feel intimidated and don’t want to do this, hence they have come to you. 

The next step is to speak to your noisy tenants directly. The tenant might not have any idea that their neighbours have a problem with them, especially given that very often, no one will want to say anything to their face. If the talk goes well, hopefully the tenant will pay closer attention to the noise they’re making, and that will be that. If they are less helpful, it’s good to check the tenancy for a noise clause (there will usually be one). Let them know it’s in there and that they signed agreeing to abide by the rules, and if they can’t be quiet, they may have to go. Ask the neighbours to gather evidence in the form of recordings and notes just in case you need them later on. 

If no one is getting anywhere, then a complaint to the local environmental health department may have to be made, either by your or the neighbours, about the noisy tenants. These complaints will be kept confidential too, so you can take this step without any worries. 

If you need to evict your noisy tenants, you can start this process even while the noise complaint investigation by the local authority is taking place. After the eviction, you’ll need a full inventory, so contact Looksy Inventories to find out more.

You’ve made the choice and decided that being a landlord is the right step for you to take, and why not? When done right, it can be a lucrative career move, and whether you do it part-time with just one property or you make it your full-time job with a whole portfolio, the general premise is the same. And the one thing that all landlords need is good tenants. If you have those, you can make money; if not, you’ll lose it. So it’s crucial that you do as much as you can to find good tenants and, once they’ve moved in, to keep them for as long as possible. Read on to find out more.

 

Make Sure The Property Is Clean 

It might seem like this is a given when you’re looking for good tenants, but it’s actually something that can be forgotten or entirely neglected, and so it’s worth having a reminder. You can’t just assume that the last tenant left things looking good, and that’s why having a check-out and then a full inventory is crucial. The former means that you can compare the property to how it was when you rented it out, and the latter means you’ve got the place in a good state for the next tenants. 

With all that being said, making sure that the property is clean and bright will make a big difference not just to how quickly you find tenants, but how well they will treat the property while they’re there. When you find good tenants, they will be the ones who treat the place carefully, and the cleaner it is at the start, the cleaner it will be at the end, saving you time, money, and effort. Plus, if someone likes the property because it’s nice and clean, they give you a good idea of their attitude to keeping house. 

Give The House Good Kerb Appeal

When you want to find good tenants and you’ve spent plenty of time getting the inside clean and tidy, don’t forget the outside too. Although not more important than the interior in the grand scheme of things, it will make a difference in that all-important first impression. If you can convince prospective tenants to come and take a look at all that goodness inside, you’re halfway there. 

The kerb appeal of a property – how it looks from the outside when you pull up to it or when you see it on a property portal – is vital in this regard. If the photos of the house don’t look good or there is a big mess in the front garden, flaking paint on the property, or any other issues, when someone comes to view, they’re not going to like it. Especially when there is plenty of choice out there, and they could go for something much nicer looking. 

Do All The Checks 

A tenant might come across as very professional, polite, friendly, and so on. But that doesn’t mean they’re the best people for your property. It’s easy to be swayed by a good reason for needing a property or why they had to leave the last one or anything else, but no matter if true or not, these stories shouldn’t make a difference to whether you let your home to them or not. 

When you want to find good tenants, the credit score and the bank account are what will do the talking. Now, of course, you can be flexible when it comes to the credit score, and sometimes it’s wise to be – mistakes happen, and those scores go down much easier than they come up. However, the bank account does not lie, and neither do the payslips. You need to ensure that whoever you install in your property is going to pay. After all, as much as you might like the idea of helping people, this is a business, after all.