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.
At No Letting Go, we are very proud of the market-leading property management franchise business we’ve built together with our franchisees. As we continue to grow, we thrive on working with dynamic and driven individuals looking for the opportunity to run their own business, and we’re looking for new business partners.
What we do at No Letting Go
We provide reports on the conditions of residential rental properties for landlords, agents and tenants. There are several vital reports services in our portfolio, but most common are check-in and check-out reports for tenant changes.
What sets us apart from the competition is our bespoke tablet-based technology which offers full flexibility, allowing reports to be completed online while on-site. Accurate and efficient, it allows our franchisees to provide an excellent service to their clients.
Why landlords need inventories
Continued demand in the rental sector grows the need for clear and in-depth reports because they have an important role to play for landlords and their agents in ensuring a smooth tenancy:
• Meeting legislation requirements and ensuring safety standards are adhered to
• Building good relationships with tenants by providing objective reports
• Providing a key administrative service, freeing time for landlords to focus on growing their portfolio and other tasks
• Protecting an investment by confirming the good condition of a property
• Employing experienced experts to complete reports
• Providing an end-to-end service
The breadth of value an inventory service can add to a rental enterprise makes it an integral tool for any landlord or agent and offers them reassurance over the ongoing safety and upkeep of their investment properties.
Why become a franchise owner?
If you have ever thought of running your own business, being a franchise owner offers a great opportunity while providing a higher level of business support.
We continue to invest in our bespoke technologies, developing our offering to landlords and tenants so that franchisees don’t have to. You can reassure clients that they are meeting their legal and health and safety obligations with the latest software.
We also provide a national network that allows us to support national and large accounts so we can build a broad portfolio of clients.
As a franchisee, in addition to being part of a strong and growing franchise group with a strong reputation, you will be supported in making your franchise a success:
• Training at our Training Academy that covers not only how to produce reports but also how to launch your business, with ongoing learning and development support
• Business development support to grow your own business
• A national support network through our franchises
• The latest technology that provides a competitive advantage and enables you to work efficiently
Running your own business can be highly rewarding. The opportunity to do this with the support of a leading national brand opens a world of potential. If you would like to learn more about our exciting franchise opportunities or would like to contact us, you’ll find details here.
A property inventory process is crucial if a landlord wants to protect themselves against picking up the bill for property repairs caused by a tenant.
However, to be useful during a dispute, especially if the matter goes to court, it’s important that the inventory has been thoroughly completed as part of a well-managed process so that it covers every aspect of a property and is correctly preserved.
Why is an inventory system necessary?
One of the most common causes of disputes between landlord or letting agent and a tenant is over the return of a deposit at the end of a tenancy, especially if some needs to be retained to cover repair or replacement costs.
For all assured, shorthold tenancies in England and Wales which began after 6 April 2007, landlords must place deposits in a government-approved tenancy deposit scheme (TDP) where it is legally protected.
A landlord, or their letting agent, must return the deposit in full if the tenant meets the terms of the tenancy agreement, doesn’t damage the property and pays their rent and bills. However, if you end up in a dispute with your tenant over the state of the property when they leave, the deposit remains protected in the TDP scheme until the issue is sorted out.
In this scenario, a well-managed inventory system provides the crucial evidence needed to settle any dispute and allow you to cover the cost for any damage.
What should an adequately managed inventory cover?
A property inventory is a comprehensive written and photographic report detailing the state of your property, including outside spaces, at the beginning of a tenancy.
It provides information on the furniture, fixtures, fittings and general wear and tear, details keys, appliance manuals and meter readings. Anything damaged or missing should be recorded in front of the new tenant.
A report also includes a safety section to record the evidence that a landlord or letting agent complies with safety regulations, such as smoke/CO detectors and the Furniture and Furnishings (Fire Safety) Regulations, 1988.
An inventory must be scheduled for the check-in and check-out procedures of a tenant, to record the property’s condition as the tenant departs. This clearly shows any changes that occurred during the tenancy. Additional checks can also be scheduled during the tenancy.
It is important that all inventories are fully documented and witnessed. Having a professionally prepared inventory can help establish the landlord’s credibility if the case goes before a tribunal or judge.
How does inventory management benefit the landlord?
The details recorded in a property inventory provide the evidence needed to prove whether the damage was done during a tenancy and if it was the responsibility of the tenant. This makes a subsequent claim by the landlord or their letting agent against a protected deposit or zero-deposit replacement insurance much simpler and more likely to be upheld.
A detailed inventory also helps reassure your tenant that they won’t be blamed for any damage they weren’t responsible for. This gets the relationship between landlord, or letting agent, and tenant off to a good start and a happy tenant is much easier to deal with than an unhappy one.
No Letting Go
At No Letting Go we offer an independent and unbiased professional inventory management service, providing a written and photographic report on the condition of the property and its contents.
If you would like to find out more about how our local support or national network could support you as your property management partner to streamline your cost, reduce workload and keep accurate property inventories, then contact us today.
Research by Statista, a statistics portal for market data, found more than half of landlords who responded were in disputes with their tenants, the main reasons being arrears, cleanliness, pets, subletting and breakages. Using regular property inventories letting agents can help their landlord clients to avoid such problems.
When should you use a property inventory?
A property inventory provides a detailed report on the contents and condition of a property, listing furniture, fixtures and fittings and alongside the condition and cleanliness.
A property inspection must take place for each new tenancy to detail the condition of the property at the start; at regular intervals throughout the tenancy to record any changes and damages from the check-in inventory; and finally, at the end of the tenancy to assess the property as the tenant departs.
These regular inspections provide a full report of the property’s condition for the complete duration of the tenancy.
Why are property inspections of benefit?
Completing a property inventory might seem like a time-consuming task for a busy letting agent looking after a number of properties. However, a comprehensive inventory process can stop a landlord-tenant dispute from escalating into a legal dispute, which would be far more costly in time and money. A proper inventory system offers other benefits:
- Essential evidence about the state of the property
- Crucial evidence if you need to take the cost of a repair or replacement from a tenant’s deposit
- Claiming on insurance is much easier with inventory evidence
- A speedy inspection process to reduce the period between tenancies and maximising a property’s income potential
- Using a standard inventory process ensures that nothing is missed during a property inspection
What does an adequate property inventory look like?
To ensure that a property’s inventory and schedule of condition will be useful to avoid a dispute, it must include:
- Full contents of the property, fixtures, fittings and state of decoration
- Details of the condition for each item
- Photographic, date-stamped evidence
- A declaration page for relevant parties to indicate their agreement to the contents of the report
It must also be completed in an objective and unbiased way and enable easy comparison between reports to identify any changes in contents or condition. Ideally, a property visit should be completed every three to six months
Disputes between landlords and tenants are time-consuming, potentially costly and can affect the reputation of a landlord and their letting agent. Using an independent inventory service can help boost the credibility of an inventory for tenants because they will see it as being independent.
Discussing the tried and tested landlord inventory service we use at No Letting Go can help letting agents understand how our inventories are structured to facilitate comprehensive property inspections and designed to capture the right information to prevent disputes.
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 the please contact us today.
What if you could take away the hassle of chasing tenants for signatures? Obtaining your tenants signature is a vital part of the inventory process. By automating this process, you could save yourself some time and even money.
So, what is DigiSign? And how can this automated check-in service benefit landlords and property professionals?
We take a closer look at this service to give you the full picture.
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
- Legionella risk assessments
- Right to rent checks
- Mid-term reports
- Check-out reports
- Abandonment notices
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 a professional pre-check out 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.
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 check-out 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.
With the festive period in full swing and New Year’s Eve celebrations on the horizon, many student landlords are bracing themselves for that dreaded call from a disgruntled neighbour in the early hours of the morning.
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.