Category Landlords

It’s possible that when your tenants move out, you’ll be faced with a long list of repairs and replacements. Even if all it takes is a fresh coat of paint or a few screws to secure some wobbly shelves, preparing the home for the next set of tenants may necessitate investing more time and money on your side. This can include the need to hire an inventory clerk.

Inventory and check-out reports, such as those generated by Looksy Inventories, are essential if your tenants are causing damage or loss to your property and leaving it unsuitable to rent. In order to avoid paying out of pocket, you may use the proof in these documents to legally keep some or all of your tenant’s deposit.

There are a lot of landlords out there who don’t know where to start when it comes to finding how to hire an inventory clerk and a company to handle their property management needs. Read on to find out more.

What Does An Inventory Clerk Do?

Before a home can be rented out, you need to hire an inventory clerk to meticulously document the property’s condition and contents. Whether they are individuals or part of a larger property management company, they provide services to clients.

When a renter moves into a property, an inventory clerk will document the current state of each fixture and meter reading. Afterwards, they will return to inspect the property towards the conclusion of the tenancy period. You might also want to hire an inventory clerk to carry out interim or mid-term inspections.

For the most part, the condition of the rental property when the tenant vacates determines whether or not they get their whole deposit back. When a tenant’s tenancy ends, the inventory clerk and the property management team will serve as unbiased witnesses to any changes within the property.

What Do Inventory Clerks Record?

An inventory report serves as documentation of the property’s condition at the beginning of the tenancy. In addition to the furnishings in the house, this covers everything from the state of the appliances to the condition of the windows, doors and locks to the ceiling and walls to the flooring and blinds.

As soon as a tenant moves into a property, an inventory should be agreed upon and updated, if required, by all parties involved. In order to establish that a property has been damaged and should be repaired from the tenancy deposit, an agreed-upon report will be necessary.

How To Hire An Inventory Clerk

Inventories are used on a daily basis by landlords and letting agencies. A new inventory report is needed for each new tenancy, and this report is often created by an inventory clerk. This person might either be employed by the rental firm or recruited on an independent contractor basis.

Inventory clerks can be found by contacting a lettings agency and asking about their methods, or by performing your own search. Search for inventory clerks in Kent or Sevenoaks or Bromley or Folkestone, and you’ll find Looksy Inventories – as well as in many other places in between. Get in touch today if you need to hire an inventory clerk; we can help you.

Landlords must understand what their tenants want in rentals. What attributes do renters search for in a property? What should landlords look for when buying a buy-to-let property? What turns off tenants?

Some landlords fail to understand precisely what tenants want, while some tenants struggle to locate a house that suits their requirements. In this post, we will discuss the top attributes that tenants look for in a rental and what landlords can do to increase tenant interest.

Location

People wanting to rent homes place a high value on location. Most people want to be near to local shops, facilities, and public transportation, as well as their employment.

Of course, if you already have a rental property, you cannot move it. When considering acquiring a buy-to-let property, landlords should consider the location as well as the sort of tenants it would appeal to.

Tenants prefer not to reside too far away from local facilities. This is particularly true if they do not have a car and transportation options are restricted. It’s crucial to have a supermarket, GP, pharmacy, and other services nearby, and school catchment areas are a key concern for families.

Because location of rentals is a major determining factor for renters, landlords should mention all surrounding facilities in the property advertisement description.

Safety & Security

Every tenant wants to feel secure in their home. Most individuals would not prefer to rent a house in a high-crime area, thus location and safety often go hand in hand.

Renters like the confidence of a functional security system with alarms and robust locks on windows and doors, in addition to the area’s crime rate. As a result, landlords must ensure that the rental property has an operational security system.

Landlords can make their tenants feel safer by installing CCTV, adding additional locks and a peephole to the front door, and ensuring all safety certifications are in place, in addition to having a functional security system.

A mid-term inspection to see the property is also suggested for landlords to check that everything in their property is safe and functional. This also allows the renter to address any questions or concerns they may have.

Outdoor Space

Many renters like having their own outside area in rentals, whether it’s a garden, patio, or balcony. If such possibilities aren’t available, being close to a neighbourhood park is frequently a huge draw for tenants, particularly those with small children.

Having outside space allows residents to enjoy the sunlight during the warmer months, hold outdoor gatherings for family and friends, and have a separate spot to relax in. Outdoor space has been especially popular during the pandemic since individuals were confined to their houses for so long and realised how crucial it was to have that outside space.

If the house has a garden, upgrading and enhancing it might help to attract more potential renters. This demonstrates to tenants that the landlord is concerned about the property and prepared to make adjustments. It may also boost the property’s value.

Open Plan Rentals

Open floor layouts are becoming more popular. Nowadays, many homes include an open-plan kitchen and dining room, which makes even the tiniest areas appear much bigger. This allows renters a lot more freedom, enabling them to use it as a dining room, lounge area, or even an at-home office space. Open-plan layouts are often suitable for student leases and HMO residences with community areas.

Landlords may want to consider demolishing a wall in their kitchen or living room to create a place for an open-plan space. If an open-plan concept is not a possibility, landlords should consider eliminating large pieces of furniture that may take up a lot of space in particular areas.

Parking & Transport Links

Transport connections are a key draw for renters, particularly students and commuters. Of course, you can’t modify the transportation options in your region, but you may emphasise them in your property advertisement. Transport connectivity, as well as the overall location, should be considered when acquiring a buy-to-let property. Nearby bus, subway, or tram stations may pique your curiosity, as will easy access to main roadways, particularly in commuter towns.

Having a dedicated parking place is essential for drivers. If landlords have the opportunity, providing renters with access to a parking area or garage would be much welcomed. This not only gives convenience, but it also adds security by enabling residents to be near to their automobile.

Winter is here, and with it, as many landlords are aware, comes the season of boiler troubles. With energy costs growing at an alarming rate (global wholesale gas prices have grown by an amazing 250 percent since January 2021), it’s time for everyone to ensure that their properties are operating as effectively as possible and that everything is in working condition before the big freeze. In this way, landlords can protect their property as much as possible.

Taking proactive actions is always preferable to dealing with issues as they arise, and everyone wants happy renters. Furthermore, private rental prices in England increased by 1.5 percent, 1.2 percent in Wales, and 1.6 percent in Scotland in the year to October 2021, so in order to maximise your rental income, your property should be as appealing as possible – and in winter, that means making sure they are warm and comfortable. Here’s a brief checklist of items to think about.

Have The Boiler Serviced

This should be a yearly occurrence since it is an excellent means of detecting problems before they occur and preventing irate tenants who are left without heat on the coldest day of the year. When the heating system is put into hibernation throughout the summer, difficulties might arise when it is turned back on. A normal yearly servicing is usually less expensive than an emergency plumber call-out and landlords are always liable for boiler upkeep and repair. Landlords can protect their property by putting this in their schedule.

Bleed The Radiators

Regular maintenance improves performance and keeps temperatures consistent across a property, helping landlords protect their property even more. Also, ensure that extractor fans in kitchens and bathrooms are operational – damp and mould issues may arise if they are not.

Have Chimneys Swept

Chimney sweeping should be another yearly occurrence if landlords want to protect their property. Carbon deposits from open flames or wood burners can accumulate fast, and chimney fires are a genuine danger. Keep in mind that chimney sweeps might be quite busy at this time of year. Check that the smoke alarms are also operational. Hard-wired smoke detectors are preferable to battery-operated ones since they are more dependable and cannot be deactivated.

Insulate Internal Pipes

Ensure that any exterior pipes, as well as pipes in the loft, are properly insulated. If the property is left unattended for any length of time during the winter, there is a genuine danger of pipes freezing, which can be easily prevented by wrapping pipes in foam sleeves, but can cause hundreds of pounds of damage if neglected.

Insulate Windows And Doors

Although double glazing should be fitted as standard if landlords want to protect their property, draughty windows and doors may be easily sealed with tape as a do-it-yourself project. If the loft isn’t insulated, it should be a first concern.

Check The Roof

Look for any loose or missing tiles and get them replaced before tenants notice any leaks. To avoid clogs, gutters must be cleaned of leaves and debris. While you’re at it, cleaning front and rear gardens and walks will make the property seem immediately more inviting to current and possible new renters.

Demand for rooms has rocketed in recent months, coinciding with a huge shortage in the number of rooms available in the UK. Unsurprisingly this has resulted in many tenants struggling to find places to rent. In fact, a recent SpareRoom survey of over 6,000 renters found that 96% of Brits are struggling to find accommodation at the moment*. Interestingly, we saw the opposite happen last summer, with landlords desperate to fill empty rooms but tenants reluctant, or simply unable, to move.

The increase in demand has been driven by people coming into the market, rather than moving within it. According to the same poll of over 6,000 renters, many are moving back out of parents’ or friends’ houses, flatsharing after renting on their own or owning a property, and overseas students (and students in general) are starting to return to cities. This results in a lot of people looking for rooms without vacating their current property, putting pressure on the market.

SpareRoom’s research reveals exactly where these people are moving from:

–           Another Flatshare – 29% 

–           Parent’s home – 25%

–           Outside UK – 14%

–           A friend’s house/flat – 10%

–           My own rented properly (not shared with anyone else) – 6%

–           Partner’s house/flat – 5%

–           Student accommodation – 4%

–           A property I own – 1%

–           Other – 6%

Flatshare site SpareRoom surveyed over 400 landlords to find out what has caused this drop in supply**. 

59% of landlords said they have fewer rooms to fill than this time last year, and almost half (43%) of those with fewer rooms said they’d filled all their rooms and they were now tenanted. But this isn’t the only reason why landlords have less availability currently: 

• 14% aren’t expanding their portfolio due to high house prices
• 10% aren’t expanding due to uncertainty in the market
• 9% have sold one or more of their properties
• 8% can’t develop properties due to a lack of tradespeople or materials
• 6% are planning on selling up and leaving the market

We asked landlords with fewer rooms which issues were currently affecting them the most – surprisingly the pandemic wasn’t a leading factor. Please see the results below: 

• Increased legislation – 26%
• Fewer tax breaks for Buy to Let – 22%
• The threat of further legislation – 22%
• Covid affecting their lettings business – 11%
• Shortage of tradespeople – 10%
• Shortage of building materials – 5%

Matt Hutchinson, SpareRoom director comments: 

“There’s no doubt Covid hit the rental market hard. Last year it was landlords struggling to fill rooms – this year it’s tenants struggling to find them. But the pandemic isn’t what’s keeping landlords awake at night – it’s government policy.

Recent legislation and tax reform made it clear that the government wants to steer the private rented sector away from an over-reliance on smaller investors. More legislation seems inevitable. Although the Tenant Reform Bill has been put on ice until 2022, many landlords are concerned about what it will bring. What tenants want most is stricter regulations for dealing with rogue landlords, so it’s highly likely the sector will see further change in the coming months and years. Hopefully whatever the government chooses to do will target the real problem landlords and get them out of the market, making it a better place for landlords and tenants alike.”

Technology is becoming more important for renters wanting to rent at the top end of the market. The attraction is understandable: there is technology for almost everything in the house, including integrated music systems, multi-room temperature management, and the capacity to remotely lock doors, all of which can be controlled from a tablet or phone.

These more complicated systems are often already installed in rental houses.

The following are the benefits and drawbacks of renting out a property with a complicated technological system or moving there as a renter.

PROS

CONVENIENCE

These smart home technology solutions, when utilised appropriately, can make life much simpler for both tenants and landlords. The ability to operate anything remotely, from the heating to the curtains, allows you to keep an eye on the property while you’re away and remain in charge when you return from the comfort of your own bed or sofa.

SECURITY

There are now devices that can mimic your daily activities while you’re gone, making your house seem inhabited.

FUNCTIONALITY

The usefulness and usability of these technologies are undeniably appealing.

MARKET ATTRACTION

In a market of more sophisticated tenants, a well-equipped home with smart home technology will stand out and frequently let ahead of a less technologically adept competition.

CONS

UPDATING

Instruction manuals are readily misplaced, and whoever is in charge of a property is also in charge of keeping this smart home technology up to date. Manuals can be difficult to replace as technology advances.

DIFFICULTIES IN OPERATING

Tools are only as good as their operators – too complicated smart home technology systems might be more of a problem than a solution if tenants are unable to use them. Having a three-hour training session for the tenants just so they know how to use their new home will be really unpopular and prove to be rather difficult.

MAINTENANCE

These systems often need upgrading, and upkeep can be pricey for landlords.

Technology is a wonderful tool that, when utilised wisely, can significantly improve one’s quality of life. Clearly, there is plenty to consider, but technology can only be as helpful as the tenants and landlords make it.

Landlords may be excused for being perplexed by the rules and legalities on access. The legislation makes them accountable for safety and maintenance and threatens them with severe fines if they do not comply. However, if they enter the property without authorisation, they can be sued for trespass and violating the tenant’s right to ‘quiet enjoyment.’ What does this mean?

Tenants’ Rights

Tenants have a right to ‘quiet enjoyment’ of the property under common law. This is an implicit provision, or covenant, that has been stated or inferred in English property conveyances and leases for centuries. This clause requires the landlord to allow the tenant to dwell in the property without excessive interference, that is, “without interruption of possession”.

‘Quiet enjoyment’ is a phrase that is often misused. In Jenkins v Jackson, a case from 1888, the court declared that the phrase ‘quiet’ in the covenant “does not imply undisturbed by noise.” When a tenant is in possession peacefully, it has nothing to do with loudness… ‘Peacefully and quietly’ means without interference.

In a nutshell, it means that the renter must be allowed to live in (or ‘enjoy’ in the old-fashioned sense of the term) the property without interference from the landlord or anybody acting on his behalf. This safeguards the renters’ interests.

Landlords’ Rights

Tenants, however, must allow landlords access. Both the Housing Act of 1988 and the Landlord and Tenant Act of 1985 require that every rental agreement include a condition or covenant stating that the tenant must provide reasonable access to the property for repairs to be carried out.

Landlords will, of course, want access to the property in order to do these repairs. In addition to access for repairs, the landlord has the right to inspect the property’s condition. The landlord or someone acting as the landlord’s agent may enter the property at any “reasonable time of day” but only after providing the tenant with at least 24 hours’ written notice.

Landlords should not claim any special privileges regarding how often and when a property may be accessed. Access to a leased property is difficult; for a renter, it is their private home, yet for a landlord, it is a precious asset that must be carefully managed. To make this work, some kind of agreement with the tenant is required. As a result, it’s not uncommon to hear of landlords being accused of trespassing on a leased property by disgruntled tenants.

Getting The Proper Balance

In general, there are two categories of tenants; those who give easy access to the property and appreciate having a proactive landlord who maintains the property and others who do not. The other categories stipulate that they must be present for any maintenance or inspection visits. As a landlord, you must assess the sort of renters you have and how to deal with them, as there is no perfect solution. Essentially, you must have a positive working relationship with your tenants.

Balancing tenants’ rights and landlords’ legal duties might be challenging, but it should be doable if addressed with mutual respect and practicality.

As a landlord, there are certain responsibilities that will come under your remit – you can’t simply rent out your property and wait for the money to come in. Although tenants will certainly have their own set of responsibilities, one of the benefits of renting (for the tenant) is that the landlord will deal with repairs and maintenance. 

In fact, if you’re budgeting in advance and you want to ensure you’re always going to be able to cover any repairs that need to be made to keep your property at its best and to keep your tenants happy, you’ll need to put aside around 10 percent of your rental income. You might not need to use it, but it’s far better to have it and not need it than need it and not have it. That’s all part of being a landlord. Read on to find out a little more about the kinds of maintenance and repairs that you may come across and have to deal with; the more you know, the more prepared you can be. 

Unexpected Repairs 

We’ve talked about landlords having to be prepared, putting away 10 percent of their rental income, responding quickly to requests from the tenant, but sometimes the unexpected happens, and although you might not have been waiting for these specific repairs to be needed, you’ll still have to deal with them. Some of the most common unexpected repairs will include kitchen appliances, heating and hot water, electrics, and plumbing. Essentially, anything that can happen without warning in your own home could happen without warning in your tenant’s home – be ready to spend out to get these issues fixed as soon as possible. 

Turn Costs 

Turn costs are something that you can absolutely prepare for in advance, and the longer you are a landlord, the more efficient – and cost-saving – you can be. Of course, these costs, the costs that you should expect to pay when a tenant moves out so that a new tenant can move in, will depend on how well the property was treated, but overall it’s wise to budget for new carpets (especially if the tenant was living there for over three years), changing the locks, and generally tidying the property up with a lick of paint. 

Damages 

The idea of a landlord having to pay for damages can be a controversial one. When a tenant leaves a property, some level of general wear and tear is allowed; after all, it’s hard to live anywhere and not make some mark on it in some way. Damages are anything that goes over and above this ‘fair wear and tear’ and could include holes left in walls, damages caused by pets, broken appliances, and so on. Although these damages are what a tenant’s deposit is for, and often the costs can be taken out of this deposit, sometimes there isn’t enough cash available, and sometimes it can be hard to get a decision from the authorities. In the meantime, you the landlord will have to pay out if you want the repairs to take place. 

General Maintenance For Building Code 

All properties have to be maintained up to a minimum building code that ensures they are safe places to live. Since a landlord has a duty of care towards their tenants, any maintenance issues that need to be carried out to ensure that this building code is adhered to must be dealt with quickly. This might include updating the electrics and making sure the heating and hot water are adequate. 

If you like the idea of being a landlord and renting out your property, you’re not alone; it’s a dream that many people have, and since it’s a very easy sector to get into – as long as you have the money and are prepared to put in the hard work – it’s something that many people have chosen to do (especially as the UK rental sector is said to be growing and by 2030 two thirds of people will be living in rented accommodation).

However, just because you can do it does not mean you should; there are many factors to consider first. Here’s a guide to help you determine whether renting out your property is the right thing for you, as well as things to think about after you start.

Are You Prepared For This Level of Responsibility?

There are many advantages to renting out your property and being a landlord, and the money you can earn – particularly if you have multiple properties – is definitely appealing. However, there will be work to be done, and it is a responsible task that you must be prepared to take on if you want to be a good landlord.

You will be responsible for maintaining your property, ensuring that any repairs are completed quickly, collecting your rent, and dealing with all of the laws and paperwork that come with renting a home. If you don’t do this properly, you might not only lose money, but you could also acquire a reputation as a poor landlord, making it difficult to attract excellent renters in the future.

Is The Property Ready To Be Sold?

Maybe you inherited a property. Perhaps you’ve moved in with someone else and now have a “spare” flat or house. Maybe you got a fantastic bargain on a home and paid much less than the market value since it requires a lot of repair and modernisation. This is just the start of your landlord adventure, not the finish. It isn’t even in the middle!

Before anybody can move into the property, before you can think about renting out your property, you must verify that it’s fit for human occupancy. This may be a little or large task, but renting it out too soon would only mean that your tenants are unhappy, and possibly unsafe. Making the home ready for renters will cost you money, whether it’s a full renovation or a fresh coat of paint and a garden clean-up. Make sure you have the money, time, and energy to do this.

Should You Hire A Property Management Company?

If you enjoy the concept of becoming a landlord but are concerned about the obligations and effort required to prepare the property as well as maintain it in the future, you might believe that you will be unable to fulfil your goal of being a landlord and renting out your property, and will need to try something else.

There is, however, a remedy. When you see how a property management firm can solve your lettings problem, you’ll realise that you can be a landlord while letting someone else handle the more difficult aspects of the job. A competent property manager will handle all aspects of renting out the home, from screening tenants to collecting rent to organising an inventory to managing maintenance. Then you can sit back and enjoy the benefits.

The lease agreement will typically outline the steps that landlords – or letting agencies working on their behalf – must take in order to make a rent increase. However, there are likely to be constraints, and it’s important to know what you can and can’t do.

What Type Of Lease?

You will generally only be permitted implement a rent increase once a year if your renters are on a periodic lease, which rolls from week to week or month to month. You may agree on a new rent with your renters and have all parties sign an agreement to that effect, or you can utilise the government’s ‘landlord’s notice proposing a new rent’ form if there is no procedure for doing so under the lease agreement they signed. If the property has renters, you must give them notice if you plan to visit it, whether to examine the premises or perform repairs, unless there is an emergency.

If your tenants have a fixed-term lease (one that lasts a defined length of time, such as six months or a year), you cannot raise the rent during this time unless your tenants agree. However, after the set period expires, you will be able to make a rent increase. This just entails having your tenants renew their lease agreement with the rent changed.

If your renters pay their rent on a weekly or monthly basis, you must provide them one month’s notice of any rate increases. If their lease is for a year, you must provide six months’ notice.

Don’t Forget…

It is essential to remember that you are only allowed to raise the rent by a fair and reasonable amount, and if your tenants believe that a rent increase is excessive, they may appeal to a rent assessment committee. Alternatively, they might simply decide to look for accommodation elsewhere, at a fairer rate, and you might be left with an empty property.

Landlords are never going to enter into lease agreements expecting to face difficulties, and they definitely don’t believe that property damage is an unavoidable part of doing business in the private rental market, yet it does occur. Rather than hoping and crossing their fingers, what can landlords do to minimise any possible income loss and rental property damage?

Tenants

The overwhelming majority of renters are trustworthy, responsible, and polite, but there are outliers. Problems, difficulties, and damage arise in every company, whether they are material or reputational, and the private leased sector is no exception. Landlords face an inherent danger when they accept renters who are negligent, reckless, or even malevolent in their handling of the property and its belongings.

Landlords are particularly vulnerable to harm due to the nature of the property sector, since they must depend largely on confidence and surrender a fair degree of supervision and control when giving over the keys to the property. When that trust is lost, there are practical and legal consequences, but it is always preferable to minimise any risk from the beginning of the tenancy.

Landlords can take a variety of efficient measures to reduce the possibility of loss or damage, which include components such as interim property inspections, insurance, references, and contractual requirements. Let’s take a quick look at how you may prepare for the worse while hoping for the best.

Tenancy With Assured Shorthold (AST)

Before entering into a contract with a prospective tenant, it is both recommended and highly advisable to commission and follow up on any landlords’ references provided. However, keep in mind that these references are from the landlords that the tenant knows will offer the best review. Checks of their rental history will be much more informative.

Speaking with past landlords can allow you to detect any patterns of behaviour, problems with rent payment, general maintenance, or property damage. Questions such as: how was (any) harm caused? Did the renter notify the landlord as soon as possible? Did they accept none, part, or all of the blame? How peacefully was the situation resolved? This may be the first stage when red flags are raised.

Renter reference checks are a fast, inexpensive, and easy method for landlords to assess if a tenant is likely to be dependable and, more crucially, to pay their rent on time.

Checks should contain the following items:

• Negative credit
• Landlord citation
• Employer testimonials
• Calculations of affordability
• Checking the right to rent
• Documents – bank statements / identity proof

When you’re certain about your tenant selection, consider including specific terms in your AST. Many landlords use standard form agreements, however there may be unique factors that relate to your property, such as structural, geographical, or style, quality, and arrangement of interior fixtures and fittings.

Similarly, you may want to make certain that explicitly prohibited behaviours, such as smoking, keeping pets, or excessive use of open fires, are clearly emphasised so that your intentions are not misunderstood. Consider the problems that make your property especially vulnerable to harm and plan for them. The renter is also responsible for informing you of any harm that has happened or, more crucially, circumstances that may soon lead to damage, in order to reinforce any known duty in specific terms.

Landlords must also ensure that the property is well-maintained and that safety is prioritised, with necessary gas and electrical certifications, smoke alarm inspections, and compliance with current laws, such as the Homes Act – suitability for human habitation.

Property Reports

It is critical to follow best practises in inventory property management before your tenants come in. A comprehensive examination of the premises, down to the smallest detail of the décor, equipment, and furnishings, as the information will clearly indicate the condition and provides both parties confidence and establishes an equal footing. The inventory report process may be time-consuming and complicated, but there are methods to make it easier. Using a managing agency is one apparent option, but if you are a self-managing landlord and are not interested in the cost or delegation required, another feasible option is to hire an inventory business or expert to produce the report.

A knowledgeable clerk will know what should and will not be included in the report, will ensure that any prospective points of contention are addressed from the beginning, and will set the standard for all future reports such as interim inspections and, of course, the check out at the end of the tenancy.

Property Inspections

Once the lease begins, your property is at its most vulnerable since, although you have some rights of access, they are balanced in law against the tenants’ rights of privacy, thus your best defence throughout the tenancy is frequent property inspections.

Ideally, you should visit the property on a frequent basis to verify that there are no maintenance problems, that the tenant is following the conditions of the AST, and that the smoke and carbon monoxide detectors are functioning and the renter is safe. The utilisation of a property professional or inspection app may minimise the time and effort required to conduct frequent inspections while maintaining the detail and completeness of the interim examination.