Owning a franchise is a very popular starting option for anyone with an urge to run their own business. At No Letting Go, our franchise business is thriving as entrepreneurial spirits join us and take advantage of the many opportunities an inventory management franchise offers.
Why is inventory management a good business opportunity?
The rental market is booming right now, and lockdown has done little to slow it down. Recent figures show a 22% increase in demand for lettings in comparison with the same period in 2019. In fact, it’s predicted that households within the private rented sector is set to rise by 5.79 million by 2021. This level of expansion offers exciting opportunities for anyone involved in the sector.
To manage the growth in the lettings market successfully, there will need to be a robust infrastructure of support services around it, and inventory management will play an essential role. Inventory management ensures the protection of both landlord and tenant and reduces the potential for disputes. Landlords value the ability to outsource inventory management as it saves them time, and our independence gives tenants greater confidence in the process.
Moving into a market with such growth opportunity is an exciting proposition for any new business owner, but when this can be done through a franchise, which offers the prospect of a readymade set-up and a recognised brand, it’s an opportunity to get your business career off to a flying start.
What’s special about a No Letting Go franchise?
In addition to an active market, business owners need to ensure that the franchise they’re considering can realise business opportunities and meet their aims.
Inventory management provides a clear advantage to those owning or managing a let property, but the advantage of owning a franchise comes when that franchise is established as a provider of a specialist service. A No Letting Go franchise offers just that:
- A recognised brand and the UK’s largest franchised provider of property reports to the UK residential rental market
- Provides a range of services in addition to the inventory management report, increasing income
- Has services established with a wide variety of letting businesses, including major chains of letting agents, independent local letting agencies, estate agencies, landlords, property management companies and local authorities
- Invests in extensive training in all aspects of delivering the services and running a business, from when you start up and continuing throughout your franchise ownership
- Based on a repeat business model, so once established you’ll see an ongoing flow of business
- Offers assurance that reports are comprehensive, compliant and simple to create, so you’ll always be in demand
Become a franchise owner
The desire to provide great customer service, deliver on promises and work hard are the main assets you need for starting out on your franchise ownership journey; no industry experience is required.
If you think you have what it takes, and running a franchise would suit your life and your business aims, please contact us to discuss joining the national network of inventory management specialists at No Letting Go.
A good landlord or property agent understands that the relationship with their tenant needs to be carefully managed in order to build a positive and successful long-term partnership from which both sides benefit. This requires the reliable delivery of a broad range of services to ensure that the tenant is kept safe and happy and to protect the position of the property owner.
If you own a rented property, it is always worth considering whether you will benefit from engaging a specialist property manager with experience required to deliver on that relationship.
The importance of property management
Purchasing a property to rent is a major investment, and property management is about looking after that investment so that it continues to give you the best return possible. Landlords also understand the additional benefits that good property management brings:
- Freeing up your time from keeping up to date with a multitude of compliance requirements
- Providing additional support when a landlord doesn’t have the capacity to look after their properties themselves.
- Ensuring that buildings are well maintained to generate maximum revenue
- Looking after the resident’s needs and wellbeing
- Acting as a point of contact between landlord and resident
- Understanding the legal requirements of renting property
What are property inventory management services?
At No Letting Go we offer a broad range of property reporting services to ensure we can assist either a landlord or agent to manage a successful let. These services include:
- Vacant property inspections: Checking your property is secure, and there are no maintenance issues, internally or externally. There’s often an insurance requirement for vacant properties to be inspected weekly or fortnightly. Landlord Action can help with difficult tenants.
- Abandonment notices: Ensuring these notices stay in place by regularly visiting the premises and reporting on the property’s security.
- Mid Term Reports: Every three to six months, we visit a property to ensure it is being maintained as agreed, check for damage and ensure that tenants are happy. We then produce a report that can be used to provide valuable evidence should a dispute arise in the future.
- Block management Inspections: Estate and block inspections are broad ranging, from fire and safety to maintenance and cleanliness, but can be tailored to each client’s needs, highlighting key areas for necessary action.
- Inventory management: Reporting any change, from the commencement to the termination of a tenancy, and providing evidence for recovering costs against deposits or insurances
- Fire and CO compliance: Inspecting and testing all alarms to ensure compliance with relevant regulations.
Why use specialist inventory services?
With a specialist property inventory service like No Letting Go you have access to a national network of inventory specialists. In addition to our experience and specialist knowledge, our letting management and landlord clients benefit from:
- A dedicated account manager
- Capacity to manager large and small portfolios
- A flexible range of property reporting services
- Guaranteed report delivery turnaround, working to a Service Level Agreement
- Use of an online platform which makes tracking easy
- Fully insured and qualified specialists
- Building your reputation as a good landlord or management agent
No Letting Go
If you would like to discuss how our national network can help with your property inventory management to generate accurate reports and protect your reputation as a landlord or letting agent, please contact us online.
A report at the beginning of the 2020 year stated that 30% of landlord-tenant disputes were a result of tenants not receiving communications about why their deposit wasn’t being returned. The second most common cause for dispute was cleanliness (23%), and the third was damage to property (18%).
What is a property inventory?
A property inventory is a comprehensive report which details the state of your property at the beginning of a tenancy. It provides information on the furniture, fixtures, fittings and general wear and tear. Anything that is damaged or missing can be recorded in front of a new tenant.
Why is an inventory important?
The extensive details recorded in a property inventory provides the evidence to show the contents, condition and cleanliness at the start of the tenancy. A comparison report will be prepared at the end of the tenancy to determine if any damage occurred during the tenancy. This makes it easier to recover costs against a deposit or zero-deposit replacement insurance. Without this crucial evidence, landlords can find themselves liable for the cost of the damage. And on the other hand, without this evidence, a tenant can’t prove they weren’t responsible for some damage.
In addition to helping to place responsibility for property damage, the report also highlights any issues to be addressed at the start of the tenancy and provides tenants with a clear expectation of the state in which the property should be returned.
The benefit to all parties in preventing disputes makes inventory management an essential part of the property letting process and sets the relationship between landlord, agent, property manager and tenant off to a good start.
What should an inventory report include?
A comprehensive inventory report should include the following:
- A record of meter readings and keys provided
- The condition and cleanliness of each room, including appliances, fixtures and fittings
- A record of the condition of the garden
- A signature from the tenant confirming they agree with the contents of the report
- A record of the condition of the mattresses (if fully furnished)
- Date and time-stamped photos of the property and its contents
- A record of furniture and furnishing fire safety labels
- Evidence that the smoke and carbon monoxide alarms comply with legislation
- A record of loose or frayed carpets, cracked glass or windows, missing keys and inoperable locks
Check In – Check Out
As important as the initial inventory report is, a check-out report recording the condition and cleanliness of the property as the tenant departs is equally important. This report, in conjunction with interim checks throughout the tenancy, documents any changes that have occurred to the property. This can be used to evidence to a tenant why deductions had to be made from their deposit. A sequence of reports also provides evidence for legal proceedings in the worst case.
No Letting Go
We offer an independent and unbiased professional reporting service, providing a written and photographic report on the condition of the property and its contents in addition to the standard of cleanliness. If you would like to discuss how our local support or national network could help you with your inventory management please contact us online or find your nearest branch.
Fulham has become one of South West London’s most popular areas for buyers and renters alike. With fantastic pubs, shopping and schools on offer, many young professionals and families are searching for properties for sale and rent in the area.
Looking for help managing your rental properties in the Fulham area? Our guide sets out some of the most trusted letting agents in Fulham and aims to help you find the services you’re looking for, right on your doorstep.
Whether you’re looking for property management support or help attracting the right tenants, the following London letting agents are on hand to help…
Winkworth Fulham & Parsons Green Estate Agents
Winkworth Fulham and Parsons Green estate agency has been active in Parsons green for 34 years and has seen first hand the rise in demand for property in the area. Their excellent knowledge of the local property market, combined with a strong team of property professionals makes them a highly recommended agency in the area.
Georgia Nicoll heads up the lettings team and is skilled at placing the best tenants in the right properties. The 4.7 Google rating attests to the excellent services they provide to customers.
Contact Information
40 New Kings Road, Fulham, Greater London, SW6 4ST
+44 (0) 20 7731 3388
[email protected]
John D Wood & Co Estate Agents Fulham Broadway
Located conveniently on the corner of Fulham road and North End Road, the Fulham office of John D Wood & Co offers sales and letting services to the surrounding area.
The lettings team provide tailored services to landlords and property professionals, aided by expert legal teams to help protect your investment. Satisfied clients attest to the teams’ efficiency, reliability and flexibility.
Contact Information
506 Fulham Rd, Fulham, London SW6 5NJ
020 3151 4134
Strutt & Parker Fulham
If you’re a London landlord or property professional looking for help with Fulham properties, Strutt & Parker are dedicated to helping match both corporate and private tenants with outstanding properties. Solid market knowledge, seamless property management services and flexible options make this letting agency a popular choice in the area.
Their impressive 4.9 star Google rating comes from the team’s professionalism and excellent communication skills.
Contact Information
701 Fulham Road, London, SW6 5UL
+44 20 7731 7100
KFH (Kinleigh Folkard & Hayward) Fulham
From the picturesque Eel Brook Common to the plentiful green spaces of Moore park and South Park, the team at KFH Fulham are very much clued up on Fulham’s offerings.
This estate and lettings agent offer everything from residential and commercial lettings, to portfolio management. Their dedication to clients is reflected in the 5 star Google review rating as customers describe their services as honest, helpful and attentive.
Contact Information
825-827 Fulham Road, Fulham, SW6 5HG
[email protected]
020 3993 4671
Chestertons Fulham Road
Chestertons Estate Agents have three offices in Fulham and their lettings team is run by Graham Jennings who has been working at the firm since 2009.
Reviews describe the team as having fantastic knowledge of the area and local property market.
Contact Information
654 Fulham Road, Fulham London SW6 5RU
[email protected]
+44 (0)20 7384 9899
Knight Frank Fulham Estate Agents
According to lettings manager Chiara Thomas, Knight Frank Fulham have seen a 72% increase in the number of tenancies starting via their corporate relocation service year on year.
From marketing, to finding reliable tenants and collecting rent, this agency is experienced at providing essential services for landlords in the area. With a wide network of partners and experts, Knight Frank are well placed to help landlords protect their investment.
Contact Information
203 New Kings Road, Fulham, SW6 4SR
Hamptons International Estate Agents Parsons Green and Fulham
Landlords and tenants alike praise Hamptons Parsons Green and Fulham for their attentive customer service and dedication to going above and beyond for their clients.
The Fulham office of Hamptons has been running successfully for 25 years, covering the postcodes SW6, W6 and W14. The international agency has wide exposure on property portals such as Zoopla and Rightmove and the team is confident they can get you the best rental price for your property.
Contact Information
193, New Kings Road, Fulham, London, SW6 4SS
020 3151 4176
Carter Jonas Parsons Green
Carter Jonas Parsons Green provides a wide array of services, including; property valuations, vacant property management and buy-to-let advice.
The team pride themselves on their transparency, customer satisfaction and 24/7 availability.
Contact Information
783 Fulham Rd, Fulham, London SW6 5HD
020 7751 8898
Douglas & Gordon Fulham
The Douglas and Gordon Fulham office is well known for it’s high quality services and customer service, with the team being described as ‘diligent’, ‘approachable’ and ‘refreshing’.
The team are experts in both long term and short term lets and offer a wide range of professional services for landlords.
Contact Information
656 Fulham Rd, Fulham, London SW6 5RX
020 3918 3699
[email protected]
Savills Fulham
Savills have been operating in the property industry for many years, and the Fulham branch has earned a reputation for seamless efficiency. The agency deals with some of the most prestigious properties for sale and let in the area and has a detailed understanding of renters’ needs.
The team ensures that their clients are at the heart of their services and are available at all times of day.
Contact Information
191 New King’s Rd, Fulham, London SW6 4SW
020 7731 9400
No Letting Go Fulham
Fulham is a hugely popular area of central London, thanks to its great transport links, quality schools and attractive properties, making it a great location for prospective landlords to invest. If you’re looking for property inventory services in London, we can help.
The No Letting Go Fulham branch is run by Yosha Hussain, an experienced inventory and property reporting specialist, with great local knowledge.
Available services include:
- Detailed inventory reports
- Digisign
- Property visits
- 360 virtual photography
- Property appraisals
- And much more….
Find our full list of property inventory services here to maximise returns and protect your investment.
Although we all do our best to avoid them, void periods are a fact of life and most landlords and letting agents will find themselves with a vacant rental property on their hands at one point or another.
If you find yourself with an empty property, it’s important to keep it safe and secure. We’ve got some advice on how to protect vacant property and keep it in good condition until your next tenant comes along.
From security solutions to regular inspections, keep your property safe with these tips.
How Long Can A Rental Property Be Vacant?
If your rental property is left vacant for an extended period of time, you will need to inform your insurer. How long this period is can vary from insurer to insurer, so make sure you read the small print in your contract.
Usually, when a rental property is left vacant the insurance will go up as it is considered to be more of a risk.
Vacant Rental Property: The Risks
With no one living in the property to take care of day-to-day maintenance and inform you if something goes wrong, vacant properties present more of a risk for landlords and letting agents.
Here are some of the potential issues you could come across;
- Vandalism
- Theft
- Squatters
- Leaks or water damage
- Fires
- Electrical faults
- Structural damage
- Mould
- Pest infestations
- Weather damage
Vacant Property Security: The Solutions
While these potential issues sound scary, there are several steps you can take to ensure your property remains safe and secure.
Secure Doors and Windows
It’s good practice to change the locks between tenancies to minimise the risk of unlawful occupation. Having secure doors and windows also helps to prevent theft or squatting.
The RLA recommends using five lever mortice locks for external timber doors or a multi-point locking system for PVC doors, as well as door chains.
Regular Property Maintenance
Regular property maintenance is vital throughout the year, whether your rental property is occupied or not. By keeping on top of maintenance tasks, when it comes to vacant buildings, there is a smaller chance of structural or internal damage.
The main tasks to address include;
- Exterior maintenance e.g. replacing missing roof tiles or clearing guttering
- Regular servicing of boilers, pipes
- Interior maintenance
Manage Utilities
Depending on how long the property is left vacant, it may be wise to switch off certain utilities such as the electrics to minimise the risk of fire. However, if you’re dealing with an empty building over the winter period, scheduling the heating to come on periodically can prevent mould growth.
Perhaps the most important measure you can take is to ensure all smoke and CO checks are up to date.
Installing Security Systems
Installing an alarm system or extra site security can discourage theft or vandalism to your property. Security services can include;
- 24 hour security cameras
- Alarm system
- Security lights
- Property security services
Alert the Neighbours
Having a quick chat with the neighbours or sending round a letter is a cost-effective way of protecting your investment. Asking the neighbours to act as property guardians and alert you if they spot any suspicious activity or leaks before they create permanent damage can save you time and money in the long run.
Take Advantage of PropTech
PropTech innovation has come on leaps and bounds over the last couple of years and there are plenty of solutions out there to help landlords and letting agents protect their properties remotely. From leak detection to remote temperature control and live streaming- you’re sure to find an app to put your mind at ease.
Vacant Property Inspections
Vacant property inspections are vital for the protection and security of your property. Most insurance companies require vacant properties to be visited weekly or fortnightly to check for any security or management issues and ensure they are dealt with promptly.
Improve Your Marketing Materials
No landlord or letting agent wants a vacant rental property on their hands. To avoid this situation from occurring in the first place, it pays to invest in quality marketing materials.
We offer a 360 degree virtual property photography service to show off your property to a high standard, producing images for use in marketing and inventory reporting.
No Letting Go’s Vacant Property Protection Services
As experienced partners to landlords, letting agents and property professionals around the UK, we understand the importance of keeping your property safe and secure during void periods.
As part of our services, we offer essential vacant property inspections to check for any damage and arrange for swift repairs. Whether you are a landlord living overseas or a letting agency needing help with your portfolio, our dedicated clerks are on hand to help.
Discover the rest of our property inventory services here.
Looking for trusted Islington letting agents?
As a provider of landlord and letting agent services, we work with a wide range of companies within the property market and understand the importance of finding dedicated and reliable property agents to protect your investment.
A good letting agent has excellent local knowledge and understands the specific pain points of letting property in a particular area. While our previous blog looked at the best letting agents in London, we’re taking a closer look at specific localities to help you identify the best property management services in your local area.
First up, we list some of the best Islington letting agents providing professional, friendly services to landlords and businesses in the area.
Chestertons Islington
Excellent Google reviews are a testament to this agency’s responsive customer service and dedication to clients. Taking great pride in the local community, the Islington branch of Chestertons lettings and estate agency is partnered with William Tyndale School, London Calling coat collection and St Mungo’s.
Their lettings team is head up by David Manning, who has over 20 years’ experience in the industry.
Contact Information
David Manning
[email protected]
327-329 Upper Street, Islington London N1 2XQ
Daniel Rose Residential Ltd
Settling in Islington in 2004 after letting properties around North West London, this family run lettings agency take pride in the personal touch they provide as part of their property services, going above and beyond for their clients.
Daniel Rose Residential provides landlords with property valuation, marketing material and promotion on popular property portals such as Zoopla and Rightmove.
This agency is a member of Client Money Protect (CMP) and The Property Ombudsman.
Contact Information
[email protected]
Ground Floor Office, 99 White Lion Street, London, N1 9PF
Felicity J Lord Letting Agents Islington
Described as sincere, trustworthy and tech-savvy by clients, Felicity J Lord Letting Agents in Islington is part of a multi-award winning agency.
The Islington office of Felicity J Lord covers a wide area, including Highbury, Canonbury, Barnsbury, Hoxton, Kings Cross, Caledonian Road, Holloway, Arsenal, Finsbury Park and Stroud Green.
Contact Information
Anthony Szabo, Area Director (Lettings)
[email protected]
Islington Felicity J Lord, 313 Upper Street, Islington, London, N1 2XQ
Islington Properties
Islington Properties describes itself as a ‘boutique residential property services company’ and is renowned for offering unique insights into the local area. Their Sales & Lettings Manager has worked in Islington for the past ten years and the rest of the team are ARLA qualified.
The team also offers tailored property management services as well as property valuations with no obligation to commit.
Contact Information
[email protected]
111 Upper St, Islington, London, N1 1QN
Founders Of London
From Islington to Regents Park, Founders of London have a combined 20 years of experience managing properties in prime central London locations.
With a close attention to detail, the agency offers free market appraisal to landlords as well as expert advice on maximising returns. The professional website and marketing materials on offer help to attract quality tenants with a short turnaround.
Founders of London are members of The Property Redress Scheme (PRS) and Clients’ Money Protection Scheme (CMP).
Contact Information
47 Islington Park Street, London, N1 1QB, United Kingdom
Hemmingfords
Hemmingfords lettings agent started out as a husband and wife team with a mission to make lettings more transparent for both landlord and tenant.
Working with properties in Islington, Shoreditch, Clerkenwell, Hackney, Bethnal Green and the City, the couple live and work in the area and have extensive local knowledge. They also strive to be an eco-friendly option by minimising printing and using electric company cars.
Co-founder Rose has landlord experience herself and can offer guidance, care and value within all aspects of the rental process.
Contact Information
[email protected]
We Work, 41 Corsham St, Hoxton, London N1 6DR
Friar Lettings
This independent, family run lettings agent has been providing lettings and property management services since 1999. Described as helpful and professional without being ‘pushy, the small team at Friar Lettings are valued by clients for their down to earth nature and reliability.
Contact Information
[email protected]
Gainsborough Studios North, Unit A, 1 Poole Street, N1 5EB
Charles David James
Charles David James lettings in Islington provides professional services to a small number of clients to ensure each one feels taken care of and specialises in managing property for homeowners relocating overseas.
Charlie is described by clients as ‘approachable’, ‘honest’ and ‘helpful’ with a straightforward approach.
Contact Information
[email protected]
Unit 11 Canonbury Yard, 202-208 New North Road, London N1 7BJ
PG Estates Islington
Since taking the reins from his father in 2005, Ed Gormley has taken PG Estates lettings to new heights. Excellent customer service and forging long-standing relationships is at the heart of the company’s ethos.
Rave reviews from the landlords and tenants on their books are a testament to the care the team at Islington put into their dealings with customers. They offer bespoke marketing, property management and short lets as part of their services.
The lettings agent is a member of The Property Ombudsman and ARLA.
Contact Information
020 7226 4994
350 Upper Street, Islington, London, N1 0PD
Kinleigh Folkard & Hayward Islington Estate Agents
In operation since 1977, Kinleigh Folkard & Hayward can be found in 60 locations across London, making it one of the larger estate agents on our list. They have a wide network of specialists and experienced staff on hand. Their high Google review rating from Islington clients speaks volumes about their superb communication, professionalism and efficiency.
Contact Information
[email protected]
298 Upper Street, Islington, N1 2TU
No Letting Go Islington & Camden Property Inventory Services
No Letting Go’s Islington and Camden branch is led by Chris Ford. After 23 years of experience in the retail industry, Chris made the switch to property in 2017. Since then, property has become his passion and he always strives to go above and beyond for his clients of landlords and letting agents.
The Islington & Camden team offer;
- Highly detailed inventory reports
- Inventory Management in Islington
- Smoke and Carbon Monoxide Inspections
- 360 Virtual Photography
- Property Appraisals and Floorplans
- Property Visit (Mid Term Inspection)
- Legionella Risk Assessment and water testing
Contact Information
07415 087316
[email protected]
48 Weavers Way, London NW1 0XE, UK
Are you a letting agent operating in the Islington area that we’ve missed off our list? We’d love to hear from you! Get in touch to be added to the list or head to the website to discover our range of property inventory services.
What if you could eliminate the hassle of chasing tenants for signatures with an Automated Check-In Service For Property Management? Obtaining your tenant’s signature is a crucial part of the inventory process. By employing DigiSign’s automated process, you could not only save precious time but also reduce costs.
So, what exactly is DigiSign? And how does this leading automated check-in service offer benefits to landlords and property professionals?
We dive deeper into this service to provide you with a comprehensive overview.
What Is DigiSign Software?
Digisign automated check-in is a service that allows us to collect electronic signatures from your tenants. This web-based signing process makes inventory signing and management even easier for all parties, allowing for remote digital signage and automated reminders.
How Does DigiSign Work?
Our DigiSign process is simple. The software will send a reminder to your tenant via email or text message, notifying them that they are required to sign the inventory report. As the landlord or property manager, you will also receive a notification for each tenant reminder sent out.
Next, the tenant follows the online link to the electronic documents where they can add their digital signatures at the touch of a button. The tenant is also able to make their own comments and add pictures directly into the report at this stage. This collaborative process can help prevent any disputes over inventories when it comes to the end of the tenancy.
Any additions are verified by us before returning the report to you.
Using the DigiSign service, we can even send automated reminders to your tenant if they fail to sign first time. The method and frequency of these can be tailored specifically to your needs. This completely removes the frustrating and laborious task of chasing tenants for signatures.
If the tenant fails to respond to these reminders, there’s no need to worry. We will deem the report accepted and will notify the tenant.
The Benefits of Automated Check-In Systems
This automated inventory service comes with a range of advantages, benefiting both landlord and tenant;
- Inventories are automatically sent out for signing according to your specific limit
- You and the tenant can make amendments online
- Queries can be managed online by us
- Text or email reminders can be sent out to tenants to speed up replies
- Tenants are able to sign the inventory remotely, using an online link
- Increased visibility for landlords, property professionals and tenants throughout the process
- This flexible system can be tailored to your needs
- Automation saves time and effort
- Reduces the chance of human error
- You’ll never have to chase a tenant for their signature again!
These benefits help to free up your time for more important things, helping you to manage your portfolio with minimal hassle.
Streamlining the Property Inventory Process
Having a detailed, professional property inventory report in place at the start of a tenancy is vital when it comes to protecting your investment and recovering any necessary costs when the tenancy comes to an end.
By making these services as easy as possible through automation, we aim to increase efficiency in your business, helping you on the path to success.
To maximise the potential of property technology, why not take advantage of Kaptur Inventory Software – a program designed with busy property professionals in mind. Kaptur provides the most efficient way to collect, prepare, report on and manage information through its flexible system.
This includes easy user experience, 24/7 customer support and custom reports tailored to you and your business needs. For inventory reports, this means branded digital documentation, embedded photos and professional templates as a start.
Why Choose No Letting Go?
Helping landlords, letting agents and property professionals manage their workload and protect their investment is what we do every day.
We offer a range of services to make your life easier, including;
- 360 virtual photography
- Floor plans
- Property appraisals
- House viewings
- Smoke and CO checks & reports
- HHSRS
- Legionella risk assessments
- Right to rent checks
- Mid-term reports
- Check-out reports
- Abandonment notices
- Dilapidations
If you’d like to find out more about our property inventory services, please don’t hesitate to contact us.
Is your tenant coming to the end of their tenancy agreement? If so, you might want to start thinking about providing them with some essential information regarding their check-out process.
Investing in professional pre-tenancy checks service can benefit both landlord and tenant. From ensuring smoother transitions, to minimising the amount of maintenance needed, we explain how opting for a pre-check out service can save property professionals time and money.
Pre-Tenancy Check Out Procedure for Rental Property
Before we look at the process in more detail, here’s a quick overview of standard check-out procedure for a private rental agreement;
- Notify tenants of their responsibilities at least 2 weeks prior to the end of the tenancy
- Provide pre-check out service
- Tenants return property to original condition
- Provide check-out visit on the last day of the tenancy
- Provide pre-tenancy checks report
- Tenant accepts/challenges report
- Deposit return is negotiated
- Deposit is released
Let’s take a closer look…
What is A Pre-Check Out Service?
The purpose of a pre-check out service is to ensure that your tenant is fully aware that the property must be returned to its original condition as it was found on move-in day.
This service consists of a visit, in which property clerks grade each room of the property and specific items within it with actions ranging from ‘No action required’ to ‘Replacement required’. The original inventory report provides evidence of the state of the property at check-in.
This service provides tenants with a realistic view of the tasks required in order to return the property to an acceptable state and have their deposit returned in full.
Benefits for Tenants
By having all the information and guidance they need at their fingertips, a pre-check out visit arms tenants with the tools to ensure their full deposit is returned.
Often, property professionals find that tenants are unaware of certain tasks that need completing before the end of the tenancy, for example, cutting the grass or maintaining any out buildings.
This information should be accessible in the official tenancy agreement document, however not all tenants remember to read it thoroughly at the end of a tenancy.
Tenant Check Out Responsibilities
Examples of the tasks and responsibilities that could be recommended at the pre-check out include;
- Replace any furniture or furnishings that have been considerably damaged or stained beyond normal wear and tear
- Cut the grass and trim back foliage in outdoor spaces
- Thorough cleaning throughout
- Defrost freezers
- Replace old light bulbs
- Remove all food and personal items from the property
- Replace any items that were present at check-in
- Ensure furniture is in the same position as at check-in
Once these tasks have been completed, tenants are much more likely to have their full deposit returned to them, minimising time-consuming disputes.
Benefits for Landlords, Letting Agents & Property Professionals
Some of the benefits of providing your tenants with a pre-check out service include;
- It makes the transition between tenants quicker and smoother
- It minimises the amount of property maintenance needed between tenancies
- It helps maintain a positive relationship between letting agent/landlord and tenant
- It saves time and money
To sum up, pre-check outs can be very valuable for time poor landlords and property professionals seeking a quick turnaround and minimal maintenance work.
When Is the Best Time to Provide A Pre-Check Out?
We usually recommend supplying your tenant with a pre-check out visit at least two weeks before the official end of the tenancy. This gives them some time to make necessary repairs or replacements before they move out.
Inventory Check Out: Who Pays?
Since the Tenant Fees Act came into play on the 1st June 2019, landlords and letting agents are no longer permitted to charge tenants fees for inventory services.
However, don’t let this change put you off investing in professional inventory and pre-check out services as they could save you a significant amount of time and money in the long run!
Next Steps…Check Out Inventory Report
Once check-out day arrives, either the landlord or the letting agent managing the property will visit the rental in order to complete the check-out process. Everything in the property will be cross-referenced with the original check-in inventory to create the report.
Here at No Letting Go, we use Kaptur property software to record any changes from the start to the end of the tenancy. Covering everything from cleanliness and damage to missing items and fair wear and tear advice- our detailed reports help property professionals stay on top of any maintenance needed.
Do I Need an Inventory Report?
Yes! All successful end of tenancies start with a detailed inventory report. Our property clerks use the original inventory report made at the start of the tenancy to grade the property and advise on what tasks need completing.
A thorough inventory report includes detailed images of each area of the property to ensure everything is returned as it was found. The inventory report also provides valuable evidence if you need to recover costs at the end of the tenancy. For example, if your tenant leaves the property in a damaged state beyond the level of fair wear and tear, the inventory report can help to demonstrate the changes from the start to the end of the term.
Looking for help managing your property portfolio? Our property inventory services provide a clear, unbiased picture, helping you to recover costs and protect your investment.
We also offer;
- Check-in services
- DigiSign automated check-in
- Health & safety checks
- Property inspections
- Check out reports
- Maintenance reports
Discover our full range of property inventory services for landlords and property businesses.
A new year brings with it fresh opportunities to maximise the potential of your property portfolio and grow your business. It also brings new changes to the private rental sector.
So, what will the rental sector look like in 2020? And how can landlords, letting agents and property professionals keep abreast of changing regulations? Our rental property predictions 2020 looks ahead to key events in the industry.
From an overview of regulatory changes in the past year, to upcoming developments, we’re looking ahead to what 2020 will bring to the rental industry.
What Happened in the Rental Sector in 2019?
Before we start looking ahead, let’s catch up on some of the most important changes and updates to the private rental sector over the last year and what effects they’ve had on the industry;
Making Tax Digital
In 2019, the government announced that they would be helping small businesses convert to a new digital tax system to be fully implemented by the end of 2020 called Making Tax Digital.
From April 2019, VAT tax records and returns went digital, affecting landlords with an annual rental income of over £10,000. This change required landlords to use software or apps to keep track of tax records and to update HMRC through a new, digital tax account, if they weren’t already. Hopefully, this has made doing taxes more accurate and efficient for the majority of property professionals.
Letting Agency Fees Ban
February 2019 saw the introduction of the Tenant Fees Act 2019, prohibiting many of the fees required by letting or estate agents. From 1st June, letting agencies were no longer able to demand fees for;
- Security deposits over five weeks rent
- Holding deposits over one weeks rent
- Change in tenancy costs over £50
The Letting Agency fees ban raised alarm among some parties, with ARLA claiming that a blanket tenant fee ban would ‘put additional pressures on landlords, with fewer tenant checks and a lower quality of service’.
PropTech Innovation
In 2019 PropTech became the buzzword on the lips of almost everyone in property. But what does the term actually mean? Put simply, PropTech or Property Technology is all about the digital transformation of the property industry, from big data to VR.
Moving tenant checks online and Apps that help landlords manage their property maintenance have been making everyday tasks faster, easier and more secure for professionals in all areas of the property industry.
For example, Kaptur is a digital property inventory system that allows users to manage work flows, reports and inventories all in one place.
This trend for digitalisation shows no signs of losing momentum as we move into 2020.
What’s New for 2020 in the Rental Industry?
Now, let’s turn our attention to upcoming changes that could have an effect on the private rental sector in 2020;
Abolishing Section 21
The new Conservative government has announced plans to abolish Section 21 repossessions in order to protect tenants. This change is likely to be implemented by the end of 2020.
This proposition has caused alarm amongst several landlord bodies, including ARLA, who are concerned that it will make it harder for landlords to regain possession of their properties if needed.
Good or bad, this will result in changes to the way landlords and tenants can legally end tenancy agreements. For landlords, this means following the Section 8 possession process set out in the Housing Act 1988.
Changes to Mortgage Interest: Section 24
By April 2020, tax relief for buy-to-let landlords will be reduced to the basic rate of income tax and landlords will no longer be able to deduct any mortgage interest payments from their rental income.
In addition to paying more tax on rental properties, this change could even move some landlords up into a higher tax bracket.
Making Tax Digital
The scheme to completely digitise the tax system by the end of 2020 aims to make taxes more accurate, efficient and easier to manage.
But what does this mean for landlords and rental property businesses?
In addition to minimising the chance of error, a digital system should allow landlords with multiple properties to stay on top of their taxes more easily. With all the information accessible on a mobile device, you will be able to see how much tax you owe ‘as you go’ rather than waiting to find out at the end of the tax year.
However, if you’re not naturally tech-savvy, the new system might take a little getting used to – so you better get started!
Brexit and the Rental Industry
Regardless of your opinion on Brexit, landlords and property professionals may take some comfort as uncertainties regarding the effects on the housing market begin to stabilize.
Although a lot is still up in the air, it looks like we are definitely leaving the EU so landlords can start making long-term plans to grow their portfolio.
The effect of Brexit on the rental industry could even be a positive one, with an increasing number of first time buyers delaying getting onto the property ladder while agreements are being finalised.
Continued Demand for Rental Properties
On the whole, 2020 looks set to be an exciting and prosperous year for the private rental sector.
The number of people living in rental properties in the UK has been steadily growing over the last few years, and this looks like a continuing trend as we move into 2020. Clearly, this is good news for those working in the sector who are likely to enjoy relatively stable returns on investment.
Protect Your Property Investment in 2020
Keen to maximise the potential of your property portfolio in 2020? That’s where we come in.
Ensure your investment stays protected, attract the right tenants and encourage long-term tenancies with the help of our varied property services including;
- Property inventory reports
- 360 virtual photography
- Right to rent checks
- Mid term reports and inspections
- Property appraisals
- CO and Smoke reports
- Check in/check out reports
- Digisign
Want to find out more? Browse our property inventory services to get started.
It’s no secret that lots of students like to party, and if not managed correctly, related disputes can create rifts that are difficult to repair.
It can be a tough balancing act, meeting the needs of your student tenants and keeping the local community happy. That’s why we’ve produced this student landlord advice guide on how to deal with student parties at your rental property without alienating tenants or neighbours.
To Ban or Not to Ban
If you’re concerned about your student tenants hosting large parties in your rental property, you could insert a clause into the tenancy agreement banning parties of a certain size. While this helps to deter tenants from hosting massive gatherings that could damage your property, it could prove difficult to enforce.
For lots of tenants, a steadfast rule against parties of all kinds could put them off renting your property in the first place, and this decision will narrow your pool of prospective tenants. However, banning gatherings over a certain size is a sensible idea, especially in suburban areas.
Managing the Neighbours
The majority of student accommodation is in busy, suburban areas with convenient amenities close by. While this is great for students, it also means there tends to be a lot of neighbours living within close proximity.
So, if your tenants like to host noisy parties, this can become a problem and damage your reputation as a responsible landlord in the area.
It’s difficult to actually prosecute a landlord for their tenants’ antisocial behaviour, unless you deliberately ignore the problem, or the issue is ongoing. However, staying on good terms with the local community will make your life easier in the long run.
When dealing with noise complaints from neighbours;
- Make sure the surrounding neighbours have your contact details or the details of the letting agent in case an issue arises
- Talk to your tenants calmly to get both sides of the story
- Refer your tenants to the relevant ‘noise’ or ‘nuisance’ clause in the tenancy agreement to explain which one they have broken and why, and the possible consequences if this continues
- Never threaten eviction as a first reaction as this could backfire on you and damage your landlord/tenant relationship
- If problems persist, you could arrange a meeting with neighbour and tenant to clear the air and come to a solution
- As a last resort, you could contact your local council, the police or begin the eviction process
Clear and Open Communications
One of the most important pieces of advice we can offer is to retain a cool and clear head when communicating with tenants and to keep interactions open and honest.
If you’re straightforward with your tenants, they’re more likely to be honest back. Make it clear from the start of the tenancy that you are happy to discuss any issues and ensure they have your contact details to hand.
If they feel like you’re on their side, they’re more likely to obey house rules.
Choose Simple Party-Proof Furnishings
As wear and tear tends to be higher in student rentals, furnishing a student property with expensive furniture is pointless. This is particularly pertinent when it comes to student parties. With extra bodies in the house and alcohol involved, a plush carpet and glass coffee table aren’t going to stay perfect for long.
Go for simple, more affordable essentials from somewhere like IKEA that won’t cost an arm and a leg to replace if necessary. Wipe clean surfaces and easy to clean lino floors are also a sensible option and will help your tenants stay on top of their duties.
Regular Property Inspections
One way to keep an eye on what’s going on in your rental property and help determine if regular parties are taking place is to schedule regular property inspections.
However, you need to ensure the correct procedures have been followed, as there are laws in place regarding the frequency and delivery of landlord inspections.
A professional property inspection will help determine if your property is being appropriately cared for, and whether your tenants are fulfilling their contractual agreements. This could include anything from red wine stains or cigarette burns on the carpets to extra people living in the property. Inventory clerks can even check in with the neighbours to ensure everyone is happy.
Is Renting to Students Worth It?
Despite these possible drawbacks, renting property to students can be very rewarding and comes with great benefits;
- High demand in student towns and cities
- Short term, set contracts of 12 months
- Predictable, reliable market
- Houses in Multiple Occupation (HMOs) offer higher yields
- Students don’t expect fancy furnishings and are happy with simple amenities
- Low void periods
Protect Your Student Rental Property: Inventory Management
The most important step you can take to protect your student house is to ensure a thorough inventory is taken at the start of the tenancy.
A professional inventory service helps you recover any costs or losses due to damage at the end of the academic year. And that’s where we come in. We’re experienced at working with private landlords and letting agents by providing essential reports and property management services.
From check in to property visits, we’re on hand to make the process as stress-free as possible for landlord and tenant.
Find out how our property inventory services could help you manage your student property.