Fully Managed Lettings for less than £3 a day by Heather Hilder on December 5, 2017 Fully Managed Lettings – less than £3 a day …I’m not really a coffee-lover and rarely frequent the Costas, Cafe Neros and Starbucks, but when Kerry, Callaways’ Lettings Manager, told me Landlords would be amazed they could have a Fully Managed Lettings Service for less than a cup of coffee, I had to find out more …“Landlords are essentially running a business when they let out a property. They need to consider how much time they can give to properly managing their property, talking to their tenants and contractors to arrange repairs and arranging Gas Safety etc. This is especially so, if Landlords are in work themselves. Programmes such as ‘Nightmare Tenants, Rogue Landlords’ are enough to make tenants and landlords run for cover – but this is where professional Lettings Agents can make a huge difference. Disruptions may include emergencies and out-of-hours calls, maintenance works, call-outs, serving relevant notices, and keeping up to date with regulations and legislation, which may occur when they’re at work, on holiday, or even at the theatre or having an intimate restaurant meal – no one can predict when emergencies or these type of calls occur!Landlords considering using the services of a Letting Agent may find the costs overly expensive at first glance – but once they take a closer look, they will see it is, in fact, not the case. The ‘Daily Rate’ often works out at less than £3 per day (less than a cup of Costa Black Forest Frostino, or Starbucks Eggnog Latte coffee, and with far less sugar!), for their letting agent to take care of all the above, including collecting rent and arrears.Certainly a Landlord’s stress levels should be reduced with a professional (eg ARLA Propertymark) taking care of their tenants and their property, and Agent fees are tax deductible, making it worthwhile to remove a level of stress they don’t really need.Landlords should also take into account how important their time is and factor this in if they live a distance away from their rental property, or have numerous rental properties.Managing a property can be a full time job in itself – and understanding the complexity of the lettings industry, legislation and compliance and keeping up-to-date with ever-changing laws could land you in hot water, and out of pocket to the tune of £££s if you fail to comply.Calling upon the services of Callaways has the following benefits • ARLA Propertymark Protected – with a Code of Conduct implicit in membership• TPO Registered (The Property Ombudsman) so there is redress if things go wrong• Client Account Auditing – so every penny of our Landlords is accounted for• Stringent vetting and screening process for applicants – using an independent referencing agency to carry out relevant credit checks for CCJs and bankruptcy – to prevent rogue tenants or those who do not have the ‘Right to Rent’ in the UK• Administration including AST, Prescribed Information, secure Deposit Protection Scheme and Deposit Registration all managed in-house – so you can be sure if things do go wrong, we have documentation to support a case• Inventory (by independent company) – check in – check-out of Tenants – to reduce disputes at the end of the tenancy• Mid Term Assessments – to ensure there are no hidden defects, repairs that maybe the Tenants haven’t noticed, or ‘extra’ tenants• Rent collection including monthly statement of account and collecting arrears – so you can be sure your rental monies are collected on time and you have the paperwork to present to your Accountant for Tax Purposes• Day to day property management of your property and maintenance issues – the quicker repairs and maintenance are dealt with, generally the least damage done;• Arrangements/agreements to assist with out-of-hours issues – giving Landlords peace of mind• Updating all the utility providers and Council on change of tenants – ensuring that records are correct are an important part of the service• Issuing breach letters, annual Gas Safety Certificate, EICR, PAT – to ensure the tenancy is at all times fully compliant • Tenancy renewals and negotiations – these should be up-to-date with letting compliance and legislation.Tenants often ask whether we manage a property (which is not the case where a Landlord appoints us on a ‘Tenant Find Only’ or ‘Tenant Find & Rent Collection’ basis), because in previous rentals, they have been unable to contact their Landlord when problems arise. Tenants like knowing they can contact someone immediately to report issues.We always recommend Full Management for Overseas Landlords – how would you like to be woken at 3am by a tenant saying they had a burst water pipe (it’s that time of year)? We know that in one particular instance a Tenant reported a Hazard 1 problem; the Landlord was out of the country and couldn’t, or didn’t respond, and therefore was unable to serve notice to the Tenant to leave the property…So for the price of less than £3/day (or a cup of coffee at your local preferred café), I recommend that Landlords seriously consider taking out a Fully Managed Service.”Kerry can answer your queries about all Callaways’ Lettings and Property Management Services on 01273-735237. Give him a call today!