The property sales market has been through some rough times in the last few years. Buyers and venders alike are more cautious about the process due to property values and the economy as a whole. Traditionally the process of selling your property or buying your new home was an exciting experience and the reality is there have never been a better time to market your property or buy a new property. The skills that provide the key to a successful property transaction have never changed. Randalls provide professional property sales services based around these key skills and underlines the process with confidence.
Why use an agent to manage my property?
Legislation surrounding property letting is changing all the time and becoming more accountable. Deposit protection, safety checks such as gas and Legionella and tenant affordability are all covered by law. Agents have a network of qualified and assured contractors to draw upon and access to resources that are not available to an independent landlord.
How much does using an agent cost?
This depends on the level of service you require. Randalls has four different service levels for landlords and a side by side comparison can be found here
What will Randalls do if the tenant stops paying the rent?
Randalls Property Agents use a very thorough referencing system to vet and assess new applicants. Landlord's reference, employer's reference, credit checks and affordability are all checked in advance of any new tenancy. However in the event a tenant stops paying the rent Randalls will engage with the tenant immediately to assess the reasons and find a solution. If no solution can be found the necessary process, depending on circumstances will begin to evict the tenant from the property and pursue the rent arrears. Secondly, if the property was covered by a rent protection policy then that policy would cover the rent not being paid - this is recommended. A rent protection policy is included for free to all landlords using the Randalls Premium Managed Service.
Properties that are managed by Randalls are checked every three months and a report is provided to the landlord. Feedback and guidance are also provided to the tenants.
Goverment legislation states that neither landlords nor agents can hold onto a tenant's deposit without protecting it. There are a few different protection schemes in place and Randalls currently use the DPS Deposit Protection Scheme.
A tenant is required to give one month's notice at the rent due date in order to vacate a property provided they are not currently in a set term contract. If for example the tenant is in a six month contract they will be required to give notice on or before the date of month five's rent collection. This is the same for landlords in every sense except two months' notice is required.
Received rents that have cleared bank processing are paid to landlords within 48 hours of receipt. Generally it will be the same day and the 48 hour period is simply to cover issues surrounding internet connectivity, a disruption in banking services or reasons outside Randall's control.
Absolutely yes. Randalls can provide free independent advice on buying a property to let. Advice on the area, type of property, yield and comparisons will help you to buy the right property.
All residential properties require an EPC Energy Performance Certificate in order to be marketed for letting and a current gas safety certificate. Legionella risk assessments are needed as well as smoke and Carbon Monoxide detectors if applicable.
Currently all residential properties require an annual gas safety check and a biannual Legionella check. PAT testing for electrical items is not a requirement but is recommended in order to protect the landlord.
Can't find the answer?
If the answer to your question is not here, then please feel free to contact us.