In the realm of property inventory management, No Letting Go has emerged as a beacon of excellence and reliability. With a plethora of services tailored to meet the diverse needs of the property sector, No Letting Go has carved a niche for itself, ensuring that properties across the UK are safe, compliant, and well-managed. Among its vast array of offerings, three services stand out due to their popularity and effectiveness: inventories, mid-term inspections, and check-outs. Let’s delve into the success of these services and understand what sets them apart.
- Inventories: The Foundation of Property Management
The inventory service provided by No Letting Go serves as the bedrock for any tenancy agreement. It offers a detailed record of the property’s condition at the start of a tenancy, ensuring that both landlords and tenants have a clear understanding of the property’s state. This comprehensive documentation acts as a protective shield, preventing potential disputes and misunderstandings down the line.
- Mid-Term Inspections: Ensuring Continuous Compliance
Regular inspections during a tenancy are crucial to ensure that the property remains in good condition and any arising issues are promptly addressed. No Letting Go’s mid-term inspection service offers a thorough check, identifying potential problems and ensuring that tenants are adhering to their contractual obligations. This proactive approach not only maintains the property’s condition but also fosters a positive landlord-tenant relationship.
- Check-Outs: Concluding Tenancies with Clarity
As a tenancy draws to a close, the check-out service becomes indispensable. No Letting Go’s meticulous approach ensures that the property’s condition at the end of the tenancy is compared with the initial inventory, highlighting any damages or changes. This clear comparison ensures that any deductions from the deposit are fair and justified, minimising disputes.
The Pillars of No Letting Go’s Success
Several factors contribute to the success of these popular services:
– Ease of Booking and Tracking: With a 24/7 online booking portal, property professionals can effortlessly book and track reports, ensuring timely and efficient service delivery.
– Guaranteed Protection: No Letting Go takes pride in its guarantee that properties are safeguarded by their reports. Their end-of-tenancy check-out, in particular, assigns responsibility, be it to the tenant or landlord. Impressively, less than 0.01% of these reports end up in adjudication, as reported by My Deposits.
– Audit Trail: A unique feature of No Letting Go’s system is the presence of an audit trail on each job. This trail ensures transparency, accountability, and can be instrumental in managing disputes and maintaining service levels.
– Tailored Services: Recognising the diverse needs of the property sector, from large national agents to small independents, No Letting Go offers bespoke solutions. Whether it’s a complete outsource service, leveraging their Kaptur software for in-house inventory management, or a combination of both, clients receive services that seamlessly integrate with their operations.
In Conclusion
No Letting Go’s commitment to excellence, combined with its tech-driven approach and customer-centric services, has solidified its position as a leader in property inventory management. The success of its most popular services – inventories, mid-term inspections, and check-outs – is a testament to its dedication to ensuring safe, compliant, and harmonious tenancies across the UK.
Our perception of homeownership is changing. For the vast majority, buying a property used to seem like a natural step, but it’s now predicted that by 2025 over 50% of adults under the age of 40 will be in private rented accommodation. In the UK, demand from renters is 43% higher than the last five-year average.
So what’s driving this change, is it set to continue, and what will be the impact on landlords?
The advantages of renting
Perhaps one of the biggest reasons more people are choosing to rent is because the rental market, once subject to rumours of unscrupulous landlords and high rents, has evolved and is perceived as a more progressive market that accommodates people’s needs. Renting is seen as advantageous because:
• You don’t have to worry about maintenance costs, unlike homeowners.
• It’s easier and quicker to rent than to buy a home.
• Financially it’s less of a burden; a smaller deposit is required, monthly rent can be cheaper than a mortgage repayment, there is no home insurance, solicitors’ fees or stamp duty.
• Tenancy terms can vary to suit needs, so planning for a future move is easier.
• More controls in the rental market mean tenants enjoy more legal protection.
• No danger of the negative equity trap
The barriers to getting on the property ladder
Perhaps the most significant impact on the rental market has been people’s ability to buy a home. Many find themselves unable to get a foot on the property ladder, particularly affecting the younger generation. It has been suggested that up to a third of millennials may never own their own home, while half will rent into their forties. This isn’t just linked to the difficulty of saving up a deposit. High house prices mean more expensive mortgage repayments; coupled with tighter lending requirements, it is harder to get a mortgage.
Unstable personal finances
The rise in house prices is compounded by wages stagnating while the cost of living is increasing. Even if finances were there to buy a home, many are put off by the perception that the housing market can be unstable and may trap you in a property that no longer suits your needs.
Whether driven by financial considerations or a general change in societal attitudes, people are now making different lifestyle choices, including more social living. Searches for UK-based co-living rental opportunities increasing by 4000% in the last four years, and the build to rent sector continues to grow, offering an exciting option for tenants.
Offering amenities such as gyms and concierge services, build to rent properties offer a different lifestyle in sought-after locations with the flexibility of long and short term tenancy periods. This seems to be speaking loudly to many people who feel that their homes should provide the flexibility to meet the demands of life today.
For landlords and agents who have well-managed properties to offer and who listen to their tenants’ needs and the market, the prospects are good. Renting is seen as an exciting alternative to homeownership, with the potential to offer something more aligned to how people are living and working today.
No Letting Go
Contact No Letting Go today if you would like to discuss how our local support or national network at No Letting Go could become your inventory partner, streamlining your costs and reducing your workload.
The home buying and rental markets have faired well over the past couple of years, despite the challenges presented by the pandemic and possibly because of government help. But as we head into 2022, should we expect to see a continued buoyancy in the market?
While no one is predicting a sudden or dramatic decline in the housing market, it looks as though there is some uncertainty over how much will change.
What’s affecting the property market?
We’ve seen a resilient housing market over the past couple of years. The stamp duty holiday and the desire for people to move out of cities and find open space during lockdown or an extra room for a home office to accommodate new working from home lifestyles have all helped to drive demand in the purchase and rental sectors.
However, the stamp duty holiday has ended, and we see life returning more to the “status quo ante” than predicted, so how will people respond?
We also see an increased cost of living, higher interest rates and general economic uncertainty, all of which will affect the confidence of tenants and homeowners, but to what extent? The housing markets looks uncertain; however, some key themes are prevailing, which we’ll try to draw our predictions from.
Nine key predictions for 2022
Early predictions for 2022 already suggest the following:
• Economic uncertainty persuades homeowners to stay put, reducing the number of sales instructions compared to a more buoyant market in 2021.
• A reduced supply of houses to the market will see house prices increase. To what extent is debatable, but prices should level out through the year.
• A lack of properties in the rental market will also continue the ongoing increases in rental prices.
• However, rises in house prices could encourage more homeowners to sell their homes, ameliorating the supply of stock in the market.
• Increasing rental legislation and rising house prices may lead to more landlords selling their rental properties, putting further pressure on the rental market. Energy-efficient, new-build homes continue to be in demand, but supply will struggle to meet demand as shortages in materials and labour continue to have an impact.
• Homes in city centres will increase in popularity again as people head back to work in the cities to avoid commuting. However, there may still be a continued drawn to the suburbs as employees make hybrid working arrangements permanent.
• Build to rent will continue to grow and diversify to include the individual house market, rather than just flats. Big names, including John Lewis, are entering the market and attracting investors enticed by this booming market.
• The delayed Renters Reform Bill is expected to take effect this year and will encourage more people to consider the rental market as their next home because of the greater protection enjoyed by tenants.
A positive outlook for the future
An uncertain economic environment may still have a cooling effect on the housing market. Still, we expect cautious optimism after people see the worst of the pandemic recede behind them. This will probably be enough to keep the market moving and give cause for a more positive outlook on the year ahead.
No Letting Go
If you would like to discuss how our local support or national network at No Letting Go could streamline your cost and reduce your workload as your inventory partner, then contact No Letting Go today.
No Letting Go are proud to announce that we have been SHORTLISTED for a prestigious ESTAS customer service award! To be announced in October 2021.
ESTAS honour the best agents, conveyancers, mortgage advisors and suppliers in the UK.
The annual ESTAS awards occur in Spring and Autumn, attracting the top players in the UK’s property and lettings industry.
The ESTAS Supplier Awards recognise supplier firms who have delivered the best customer experience to their respective agency, conveyancer and broker clients in 2020.
Now in their 11th year, the supplier categories have become an integral part of the annual ESTAS competition providing a badge of excellence that is instantly recognisable by agents and highlights a supplier’s commitment to quality service.
Twenty-eight supplier firms have made this year’s shortlist across various product sectors. Property professionals in the last year submitted a record total of 9,500 reviews.
ESTAS Brand Ambassador Phil Spencer will announce the winners at the 18th annual ESTAS Awards on 22nd October. Spencer said, “the industry’s leading suppliers are instrumental in helping property professionals provide excellent service, they are an extension of that experience so the service they deliver is crucial, it’s therefore only right that ESTAS puts the spotlight on their efforts.”
No Letting Go said, “We’re absolutely delighted to have made it on to this year’s shortlist. We are passionate about the level of service we deliver to our clients and this proves all the hard work the team put in has paid off”.
Renting with pets
We’ve learned over the past year how much of a comfort pets have been for many people during lockdown. The government is keen to make it easier for dwellers in private rented accommodation to enjoy the benefits of living with a furry friend and is taking steps to encourage more landlords to allow pets.
What’s changed
A BBC report found that only 7% of landlords offer pet-friendly accommodation. In a move to increase this, the government has introduced a new model tenancy agreement that allows renters to seek consent for pets as a default, requiring the landlord to provide written refusal within 28 days, providing good reasons for their refusal. It’s not a legal requirement to use the modal tenancy agreement, but there is a drive-in parliament to make these changes a legal requirement.
What does this mean for agents?
Letting agents want to strike the right balance between ensuring that additional wear and tear or damage caused by pets is managed without excluding potential tenants because of pet ownership. Also, on the positive side, pet owners are often mindful not to abuse a landlord’s trust, and they also tend to look for longer tenancies because they know how difficult it is to find properties that allow pets.
In our post Renting with pets: A landlord’s guide, we discuss key considerations when allowing pets in rental properties, but there are additional measures to consider to minimise the impact of pets on a property:
- Requiring pet insurance: This can cover accidental property damage.
- Landlord references: Confirm from previous landlords the acceptable behaviour of the animal and the tenant as a courteous pet owner.
- Proof of vaccinations: This helps prevent flea infestations and ensures the good health of the pet.
- Charger higher rent: You may be entitled to charge a small additional amount to cover the cost of wear and tear.
Add protection with regular property inspections.
Regular inspections of rental properties are always advisable as a means of protecting your landlord’s investment. Still, if you have pet-owner tenants, property checks will also pick up any damage caused by their pets, such as chewed woodwork, damaged furniture or smells. You can then work with the tenant to resolve the issues or decide if the arrangement needs reviewing.
Delays to repairs can stall renting out to the next tenants and increases overall costs, which regular checks can prevent. It’s also advisable to ensure a thorough end of tenancy cleaning regime to remove pet hair and smells, especially if your next tenant isn’t a pet owner or could have pet allergies.
When your new tenants move into a cared-for, clean property, you’re setting their expectations for how your property should be looked after. To create the best impression, an end of tenancy clean will show your new tenants the property in the best condition possible.
What’s involved in an end of tenancy clean?
The purpose of an end of tenancy clean is to deep clean a rental property before the next tenant moves in, which is particularly important in the shadow of Covid-19 and with people’s enhanced concern over health.
The depth of cleaning doesn’t just refer to how clean a place is but also what is cleaned. A deep clean ensures the removal of dirt, hair, grease, stains and limescale throughout the property, including ovens, white goods, soft furnishings, cupboards and even outdoor spaces.
Why have an end of tenancy clean?
As a landlord or agent, you should only expect the tenants to maintain the property to the standard they found when they first moved in. Good tenants will strive to keep to this standard so that they don’t risk losing their deposit, but even with the best of intentions, they may not be able to meet the professional standard you want for your next tenants.
While setting the right standard is the fundamental reason for end of tenancy cleaning, there are knock-on effects:
- Making your property an attractive prospect for potential new tenants to increase rental success.
- Letting agents can reassure landlords that their property is being well kept by maintaining clear and high cleaning standards.
- Professional end-of-tenancy cleans can be done quickly to minimise periods between tenancies.
- Professional cleaning services are familiar with working to an inventory and achieving the required standards.
- Well maintained properties are more likely to achieve the desired rental income.
How to set the standard for your end-of-tenancy cleaning
The cleanliness of a property is the leading cause of deposit disputes between landlords and tenants, but these can easily be avoided. Rather than relying on individual interpretations of “clean”, the check-in and check-out inventories can be essential tools for defining expectations. When they are set, the end of tenancy clean then becomes an essential means of preparing for the end of tenancy and pre-tenancy checks.
Using the check-in inventories and cleaning schedules provides clear details against which tenants, landlords, and agents can assess. With the addition of photographs to any written comments, it becomes clear for all to see any difference in standards of cleanliness. This mitigates the risk of disputes, making it easy to deduct money from the deposit to clean where there is good reason and avoid third-party arbitration, which saves time and expense.
As a landlord or letting agent, you want a good reputation; maintaining a clean and healthy environment for tenants will go a long way to achieving that while ensuring they take good care of your property investment. If you are looking for a professional end of tenancy cleaning service, Kompleet offers a fast and thorough service at competitive prices.
No Letting Go
If you would like to discuss how our local support or national network at No Letting Go could become your property management partner, streamlining your costs, reducing your workload and protecting your investment with accurate property inventories and checks, then contact us today.
The introduction of the government’s stamp duty holiday scheme has had a significant positive impact on the housing market but there is now speculation about what happens when this popular scheme begins to wind down from June onwards and the effect it will have on buyers’ behaviour and the market.
Why was the stamp duty holiday scheme introduced?
In July 2020 the Chancellor of the Exchequer, Rishi Sunak, announced that the government would temporality increase the lower limit from where stamp duty on property purchases would be paid to £500,000. This measure was taken to boost the housing market, which had been hit dramatically by the first lockdown, and to support buyers whose finances were badly affected by lockdown.
The scheme has been a success; 2020 saw the busiest October for a decade for residential transactions, and house prices were boosted, with Nationwide reporting a year-on-year growth rate in average house prices of 5%, a new record. It created such high demand that in the March budget, the Chancellor announced the scheme would be extended to June 2021, tapering back to normal stamp duty levels in September of this year.
What is likely to happen when the party ends?
After such a success, concerns were raised that the end of the stamp duty holiday, initially planned for March 2021, would create a dramatic drop off in the housing market. With the extension to the scheme there’s some relief, but many feel it only delays the inevitable and could see some negative consequences:
• A decline in buyer interest: RICS survey found buyer inquiries fell sharply in Feb 2021, leading to the original end of the stamp duty holiday.
• A drop in house prices: Nationwide reported signs that prices have started to fall for the first time in six months.
• Sales missing the stamp duty deadline: More sales will miss the new deadline as existing sales still struggle to be processed and new ones are added to the high workload
• Buyers pulling out of deals: If purchases can’t be completed by the deadline because they haven’t budgeted for the additional stamp duty.
The end of the stamp duty holiday is likely to see a levelling off in demand and a return to more normal timescales to complete transactions. Although some believe that house prices will decline, February 2021 saw them continue to be strong, even with the original end date of the stamp duty looming.
What will happen at the end of the stamp duty holiday remains uncertain. However, we are heading into spring and summer, traditionally busy times for the housing market. And as we continue to emerge gradually from lockdown, optimism may stay high and the market resilient. Whatever happens, we will be keeping a close eye on the market over the months to come.
No Letting Go
If you would like to discuss how our local support or national network at No Letting Go could become your property management partner, streamline your cost, reduce workload, and keep accurate property inventories, then contact us today.
If you are a landlord or have responsibility for managing a rental property, you need to ensure that you are aware of your obligations under the Housing Health and Safety Rating System (HHSRS), or you could find yourself facing a hefty fine.
What is the HHSRS?
The government’s guidance on the HHSRS states that the landlord must look after:
• The exterior of the dwelling and structural elements, and
• The inside facilities that are part of the dwelling.
These requirements have been put in place to ensure residential premises are safe and secure for residents and anyone who may be visiting the property. As a landlord, it’s your responsibility to ensure there is no risk or, if unavoidable, an acceptable level of risk from the hazards identified by HHSRS.
What types of hazards are assessed?
The HHSRS is a very comprehensive rating assessment that considers twenty-nine hazards found in the home. These hazards relate to:
• Dampness and excess cold/heat
• Pollutants, such as carbon monoxide and asbestos
• Lack of space, security, lighting, noise
• Hygiene, sanitation, water supply
• Accident risks, such as electric shocks, falls, cuts, burns, collisions
• Explosions and structural collapse.
How do the inspection’s work?
Local authorities will conduct the assessment by completing a matrix containing the twenty-nine hazards and are given extensive powers to act if the standard of a property is unacceptable. Each hazard will be given a rating (bands A-J), with bands A-C considered the most serious category 1 hazard and band D-J a less serious category 2.
The overall assessment will be made on the likelihood of an occurrence of an incident and the range of likely harmful outcomes.
What happens when the inspection finds a problem?
Local authorities have a wide range of sanctions to use against the landlord to remedy any hazards they find:
• Hazard Awareness Notice
• Improvement Notice
• Prohibition Order
• Emergency Order
• Demolition Orders and Clearance Areas
If you fail to comply with this notice requiring action, you could be fined up to £5,000.
What happens when the inspection finds a problem?
Landlords know that ensuring their property is maintained to a good standard is about ensuring their tenants’ safety and comfort and looking after their investment. HHSRS assessments are just another reason to ensure your property remains fully maintained, both inside and out.
Regularly inspecting properties can be time-consuming, and many landlords may not have the knowledge to conduct a comprehensive assessment that would pick up all the potential risks present. Regular inspections, such as those offered by No Letting Go’s property management services and regular check-ins, will keep you on top of property maintenance and can avoid large repair costs by picking up problems early on. Regular property inspections are an investment in your investment.
No Letting Go
If you would like to discuss how our local support or national network at No Letting Go could become your property management partner, streamline your cost, reduce workload, ensure compliance with regulations and keep accurate property inventories, then contact us today.
Are you keeping your tenants safe and your property protected? Are you sure that it has fully functioning smoke and carbon monoxide (CO) detectors installed? Here’s a reminder of your responsibilities to your tenants as their landlord.
What are your responsibilities?
Regulations for private sector landlords were introduced in October 2015 detailing a legal responsibility to protect tenants from the risks of fire and CO poisoning. The expectation of landlords is very clear, and there is no grace period to let you meet legal requirements. You need to ensure that your rental property has fitted:
• At least one smoke alarm installed on every storey of the property which is used as living accommodation;
• A carbon monoxide alarm installed in any room used as living accommodation where solid fuel is burned. A solid fuel-burning appliance could be a coal fire or wood-burning stove.
In addition to the alarms being fitted, you should also:
• Follow the legal requirement to check that alarms are in working order on the first day of each new tenancy. After this, the tenants are responsible for regularly testing alarms. Guidance suggests that this should be done monthly.
• Consider where you fit the alarms. Smoke alarms should be on a ceiling in spaces where the air circulates. CO alarms should be at head height and only a few meters from the fuel-burning appliance. However, the manufacturer’s instructions should be followed.
• Ensure alarms are audible throughout the property.
• Consider fitting a CO monitor near gas appliances as these can also emit carbon monoxide (although this is not required by law).
• Consider how you will prove you have checked the alarms at the required times.
Landlords who fail to comply with the regulations can expect a fine of up to £5000.
Regular property inventories can ensure compliance
As highlighted in our smoke and CO verification information, if your property is outside England, or you have a different type of rental property, there are different requirements you need to be aware of.
To ensure your ongoing compliance with all regulations affecting a landlord can be difficult and time-consuming, but something that good landlords and property agents are keen to do. At No Letting Go, we support our landlords and property agents with smoke and CO alarm verification and compliance with other legislation through inventory checks.
Pre-tenancy checks, regular inventory check-ins and end-of-tenancy inventories ensure that throughout a tenancy and at the start of every new one, you are providing tenants with a safe property that is in good order. We can schedule regular inventories that tenants will sign off to provide an audit trail for your compliance with regulations should this become necessary. We will also provide feedback and guidance where a property may be falling short of legal requirements.
No Letting Go
If you would like to discuss how the local inventory specialists at No Letting Go could become your property management partner, streamline your costs, reduce workload and keep accurate property inventories, then contact us today.
Despite the challenges of lockdown, landlords and property agents still have responsibilities to tenants to maintain their properties. At No Letting Go, we have tailored our service to ensure that we can still deliver regular property checks safely and effectively even when we cannot physically visit a property.
Keeping priorities in check
The landlords and property agents we support are familiar with the start-to-finish support our inventory management service offers. From a pre-tenancy inventory check, through interim checks and ending with an end-of-tenancy check, we have created a rigorous audit regime so that those responsible for managing properties can:
• Fulfil their legal obligations
• Keep tenants safe
• Maintain properties in a good condition
• Maintain high levels of property management service
• Meet contractual requirements
• Continue providing value for money as property agents
To ensure that none of these responsibilities slip, we have expanded how we conduct regular property visits that will ensure you keep meeting your obligations as a landlord and property agent, even during these difficult times.
Virtual property visits supported by the latest technology
Property visits have always been key to ensuring that all is in order with the property and a good relationship is maintained with tenants. While lockdown is a requirement, No Letting Go has looked for ways to reduce contact and minimise the risk to those around us, establishing a process for virtual property visits when tenants are not comfortable with a face-to-face visit.
Thanks to the investment we’ve made in our propriety inventory software called Kaptur and our Digisign function, we already have the tools in place to enable virtual property visits. Through a 15-minute phone call to tenants, we can complete an inventory questionnaire covering key aspects of a property inspection.
The information provided during the call will be recorded on our Kaptur software and sent to the tenants. They will be able to upload photos of the property, raise any maintenance issues they may have, review the report, digitally sign it, and then return the report electronically.
Quick and efficient, these checks ensure landlord priorities can be met while tenants still feel supported in their home with minimal disruption.
Don’t let lockdown stop you from meeting your rental property commitments
Everyone has to spend more time in our homes at the moment; as a landlord, it is important that you remain on top of your commitments to tenant safety and protect your property investment.
If you are a property agent managing several properties, you cannot afford a backlog of property visits to build up and risk not meeting your contractual obligations to your clients. Maintaining regular checks is key to protecting your property and ensuring your tenants’ safety, maintaining a good reputation as a landlord, and protecting your long-term income.
If you would like to discuss how the local inventory specialists at No Letting Go could become your property management partner, streamline your costs, reduce workload and keep accurate property inventories, then contact us today.