Browsing tag: Letting

  • October 1, 2024

    7 Things to Consider When Selling an Inherited Home

    Selling an inherited home can be an emotional and sometimes overwhelming experience. Whether the property brings fond memories or presents unexpected challenges, there are a few important things to keep in mind when deciding to sell. Here’s a guide to help you navigate the process.

    1. Give Yourself Time to Process

    First and foremost, take a moment to breathe. Inheriting a home often follows the passing of a loved one, and selling straight away might feel rushed. It’s okay to take your time to process everything before jumping into decisions. You don’t need to sell immediately—give yourself space to think about what’s best for you.

    2. Understand the Tax Implications

    One of the first things to check when you inherit a property is whether there are any tax obligations. In the UK, there may be inheritance tax to consider, and when you sell the home, you might also face capital gains tax depending on how much the property has appreciated in value. It’s a good idea to speak to an accountant or tax advisor to understand the financial side.

    3. Get the House Valued

    Before you make any decisions, it’s important to know what the house is worth. Get a few estate agents in to give you valuations so you have a clear idea of the property’s value in today’s market. This can help you figure out whether selling is the best option, or if you might want to rent the property out instead.

    4. Consider the Condition of the Property

    Inherited homes are often older or may have been lived in by elderly relatives, so they might need some work before going on the market. Take a close look at the condition of the house—does it need a fresh coat of paint, some repairs, or a bit of TLC to make it more appealing to buyers? You may need to budget for a few upgrades to get the best price.

    5. Sort Through Personal Belongings

    This can be one of the hardest parts of selling an inherited home. Sorting through personal belongings can bring up a lot of emotions. Take your time going through the items—keep what’s sentimental, donate what you can, and responsibly clear out the rest. If it feels too overwhelming, you can always hire a professional service to help.

    6. Decide Whether to Sell As-Is or Renovate

    You’ll need to decide whether to sell the property as-is or invest in some renovations before putting it on the market. While fixing up the house might help you get a higher selling price, it could also require time and money that you may not want to invest. Consider the pros and cons—if the house is in decent shape, selling as-is might be the simpler route.

    7. Work with an Estate Agent You Trust

    Lastly, choosing the right estate agent can make the whole process smoother. Look for an agent with experience in selling inherited homes and who understands the emotional side of the sale as well as the practical. They can help guide you through pricing, marketing, and closing the sale, making sure everything goes as smoothly as possible.

    Final Thoughts

    Selling an inherited home comes with its own set of challenges, but with the right approach, it doesn’t have to be overwhelming. Take your time, seek professional advice where needed, and focus on what feels right for you. Whether you decide to sell, rent, or hold onto the property for a while, the decision is yours to make.

    If you need help with your inherited property, reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll help you all the way.

  • September 22, 2024

    Seven Reasons to Switch Estate Agents

    Choosing the right estate agent is crucial when selling your home. If things aren’t progressing as expected, it might be time to reassess whether you’re working with the best agent for your needs.

    Here are 7 solid reasons to consider switching estate agents in the UK: 

    1. Poor Communication

    Communication is key when selling a property, and you should expect regular updates from your estate agent. Whether it’s feedback from viewings, offers, or just general updates, you shouldn’t feel like you’re constantly chasing them. If you’re left in the dark for days or weeks at a time, that’s a red flag. A good estate agent will keep you in the loop, respond promptly, and be available to answer any questions you have. If you’re feeling ignored or neglected, it’s probably time to move on to someone more attentive.

    2. Lack of Effort or Enthusiasm

    Selling a property requires energy and effort, and if your agent seems uninterested or passive, it could be costing you valuable opportunities. Are they putting the effort into marketing, following up with interested buyers, and holding viewings? If it feels like they’re doing the bare minimum, it might be time for a change. You need an agent who is as motivated to sell your home as you are and who will actively work to find the right buyer.

    3. Overpricing the Property

    Some agents will suggest an inflated asking price to win your business, but this strategy can often backfire. An overpriced property can sit on the market for too long, becoming stale and unattractive to buyers. Eventually, you may have to reduce the price, which can put buyers off even more. If your home has been on the market for a while with no serious interest, it might be worth seeking a second opinion from an agent who can provide a more realistic valuation.

    4. Too Few Viewings

    If your property has been listed for weeks or even months and you’ve only had a handful of viewings (or none at all), it’s a strong sign that something isn’t right. A lack of viewings could be down to poor marketing, an unrealistic asking price, or an agent who isn’t actively promoting your property. Switching to an agent with a better track record of generating interest and attracting viewings could make all the difference in getting your home sold.

    5. Not Acting on Buyer Feedback

    When buyers view your property, their feedback is valuable. If you’re hearing repeated criticisms (e.g., about the layout, décor, or price) and your agent isn’t addressing these concerns or suggesting solutions, that’s a problem. A proactive agent will take feedback seriously and help you make necessary adjustments—whether that’s tweaking the listing, adjusting the price, or staging the property differently. If your current agent seems dismissive of feedback, it’s worth looking elsewhere.

    6. Poor Marketing

    In today’s digital age, first impressions matter. If your property listing has poorly lit photos, a vague or uninspired description, or isn’t being promoted on all the right platforms, it could be turning buyers off before they even step foot in your home. A new agent with a fresh approach to marketing can breathe new life into your listing, using high-quality photos, engaging descriptions, and modern techniques to reach a wider audience and attract more interest.

    7. Lack of Local Knowledge

    An estate agent who truly understands the local market can make a big difference in how effectively they sell your home. If your agent isn’t familiar with the area, they may struggle to highlight the benefits of living there or price your home competitively. A good local agent will have their finger on the pulse of the community—they’ll know what buyers are looking for, what similar properties are selling for, and how to market your home to appeal to those who want to live in your area.

    Final Thoughts

    Selling your home is one of the biggest financial decisions you’ll make, and it’s important to have the right estate agent by your side. If your current agent isn’t delivering the service, enthusiasm, or results you need, don’t be afraid to switch. Sometimes, a fresh approach is exactly what it takes to get your property sold.

    To start your stress free move reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll arrange a free valuation. Your first step in getting your house sold!

  • September 10, 2024

    Seven Reasons to Sell in September

    As the summer days start to fade and we welcome the crisp air of autumn, September can be an ideal time to make changes—whether it’s adjusting your lifestyle or considering a move. For those who have been toying with the idea of selling their property, September might just be the perfect time to take the plunge. Here are seven reasons why selling in September makes a lot of sense. 

    1. Back-to-School Means Buyers Are More Serious

    With the summer holidays coming to an end and kids heading back to school, many families shift their focus from travel and relaxation to planning for the future. This often includes house-hunting. Buyers in September tend to be more focused and motivated, keen to settle into their new homes before the Christmas rush or the year’s end.

    2. Perfect Weather for Viewings

    September offers the best of both worlds when it comes to weather. The scorching heat of summer is over, and the chilly days of winter are still a way off. Mild, pleasant weather makes for comfortable viewings, where potential buyers can take their time exploring the property and the garden. Your home is more likely to show at its best with natural light still abundant, without the oppressive heat or unpredictable storms.

    3. Autumn Colours Highlight the Garden

    The early autumn bloom is in full swing during September, and a well-maintained garden can look absolutely stunning. If you’ve got a lovely outdoor space, this time of year can enhance it with warm colours, making it even more appealing to potential buyers. A beautiful garden can create a lasting first impression, which can be crucial in securing a sale.

    4. End-of-Year Move

    Many buyers aim to be settled into their new homes by Christmas. September offers a sweet spot in the property market where buyers can purchase a home and still have plenty of time for the moving process. This sense of urgency works in your favour as a seller because potential buyers are more likely to act quickly and efficiently to close the deal.

    5. Less Competition in the Market

    The summer market can be flooded with sellers looking to capitalise on the warm months, but come September, many people have paused their plans. This decrease in competition gives you an opportunity to stand out. Buyers who might have been overwhelmed by choices in the summer will now have fewer properties to choose from, increasing the chances that your home will catch their eye.

    6. Ideal Time for Downsizing

    For many, September signifies the start of a new chapter. Kids have gone off to university, or perhaps you’re simply looking for a change of pace. If you’ve been thinking about downsizing, this could be the perfect time. Selling in September allows you to move before winter, giving you time to settle into a more manageable space before the busy holiday season hits.

    7. Buyers Have Their Finances in Order

    By September, many buyers have had the time to sort out their finances and are ready to make a move. Some might have received summer bonuses or reached savings goals, making them more financially prepared to make an offer. When buyers are well-prepared, it can lead to quicker negotiations and smoother sales.

    Wrapping Up

    In conclusion, moving can be a complicated process, but with the right preparation and September offers a sweet spot in the property market that blends serious buyers, fewer competitors, and appealing conditions for viewings. Whether you’re downsizing, upsizing, or simply looking for a change, selling in September gives you a good chance of completing your sale by the end of the year. So, if you’ve been considering selling, now might just be the perfect time!

    To start your stress free move reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll arrange a free valuation. Your first step in getting your house sold!

  • September 1, 2024

    Our ultimate moving checklist: before, during, and after your move

    Moving home can be a stressful experience. To help smooth the process and make it as stress free as possible, it’s always good to have a comprehensive checklist. 

    Here is our ultimate moving checklist:

    8-12 Weeks Before Moving:

    Create a Moving Folder: Store all documents, receipts, and quotes.

    Set a Budget: Estimate costs for supplies, movers, insurance, and contingencies.

    Research Movers: Get quotes and book early.

    Declutter: Decide what to keep, donate, sell, or bin.

    Notify Parties: Inform utilities, and subscriptions. Update your address.

    Start Packing: Begin with non-essential items like seasonal clothing and decor.

    4-6 Weeks Before Moving:

    Gather Supplies: Stock up on boxes, tape, bubble wrap, and markers.

    Pack by Room: Label boxes with contents and their destination room.

    Arrange Time Off: Book a few days off around your move.

    Confirm Plans: Reconfirm with the moving company and check for necessary permits.

    Plan for Pets/Kids: Arrange care for children or pets on moving day.

    2-3 Weeks Before Moving:

    Pack Valuables Separately: Keep important items in a safe place.

    Set Up Utilities: Schedule disconnections and new connections.

    Finalise Moving Plans: Confirm details with the movers and prepare a task list.

    Clean and Repair: Deep clean and carry out any necessary repairs.

    1 Week Before Moving:

    Pack an Essentials Box: Include toiletries, a change of clothes, documents, and basic kitchen items.

    Defrost Appliances: Defrost and clean the fridge/freezer 24 hours before moving.

    Check Details: Confirm arrival times, parking, and final costs.

    Disassemble Furniture: Take apart large items for easier transport.

    During the Move:

    Take Inventory: Track all items as they’re loaded onto the lorry.

    Supervise Movers: Be available to direct movers.

    Final Walkthrough: Ensure nothing is left behind.

    Secure Old Home: Lock doors and windows, and leave keys.

    Guide Movers: Be present at the new home to direct furniture placement.

    After the Move:

    Unpack Essentials: Start with the essentials box, prioritising the kitchen and bedrooms.

    Inspect Belongings: Check for damage or missing items; report issues promptly.

    Clean New Home: Do a thorough clean before unpacking.

    Set Up Utilities: Ensure all utilities are functional.

    Change Locks: Consider changing locks for security.

    Update Address: Notify banks, insurers, and other important contacts.

    Meet Neighbours: Introduce yourself to neighbours and explore the community.

    Register for Services: Register with local healthcare, schools, and other necessary services.

    Enjoy Your New Home: Take time to settle in and enjoy your new space.

    In conclusion, moving can be a complicated process, but with the right preparation and organisation, it can be made much easier and as stress-free as possible. By following our ultimate moving checklist, you can ensure everything is done promptly and efficiently, helping the move to go as smoothly as possible.

    To start your stress free move reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll arrange a free valuation. Your first step in getting your house sold!

  • August 27, 2024

    Get your garden ready for the winter market

    No one wants to think about winter when we still have the last of the warm weather of summer. For many reasons however, some of you may not be thinking of selling until after Autumn. Follow this guide to get the best out of your winter garden and therefore the best price for your home.

    While gardens naturally shine during the summer, selling your home in the winter doesn’t mean your garden has to lose its charm. There are plenty of ways to make your garden sing even in the colder months. Here’s how:

    1. Embrace Winter Beauty

    Seasonal Plants: Introduce winter-flowering plants like hellebores, camellias, and snowdrops. Evergreens, such as boxwood and holly, can provide structure and a splash of colour when most other plants are dormant.

    Potted Arrangements: Fill pots with winter-friendly plants and place them strategically around the garden. This can add vibrant focal points even in the depths of winter.

    2. Create Warmth and Atmosphere

    Outdoor Lighting: Good lighting can transform your garden, making it inviting even after the sun sets early. Consider installing fairy lights, lanterns, or solar-powered path lights to highlight key features and create a cozy ambiance.

    Fire Pits and Heaters: Set up a fire pit or patio heater to demonstrate the garden’s potential as an outdoor living space year-round. Arrange a seating area with blankets to enhance the welcoming feel.

    3. Tidy and Maintain

    Cleanliness is Key: Sweep up fallen leaves, clean pathways, and give any outdoor furniture a good wash. A tidy garden looks larger and more attractive, even in winter.

    Repairs and Refreshing: Fix any broken fences, gates, or garden ornaments. Consider giving fences or sheds a fresh coat of paint to brighten up the space.

    4. Highlight Potential Uses

    Year-Round Usability: Showcase areas that can be enjoyed throughout the year. Set up an outdoor dining area with weatherproof furniture, or stage a corner of the garden as a cozy nook for reading or relaxing.

    Covered Spaces: If you have a pergola or covered patio, dress it up with outdoor rugs, cushions, and a small table to show its potential as a sheltered retreat.

    5. Maximize Kerb Appeal

    Front Garden Focus: Make sure the front of the property is just as appealing as the back. Tidy up the driveway, trim hedges, and place a welcoming planter by the front door. A well-presented entrance can make a strong first impression, even on a dreary winter day.

    By implementing these simple tips, your garden can be just as enticing to buyers in winter as it would be in summer, helping to make a lasting impression and potentially boosting your property’s value.

    Reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll arrange a free valuation. Your first step in getting your house sold!

  • June 22, 2024

    Becoming an Accidental Landlord: A Practical Guide

    Introduction
    Have you found yourself renting out a property due to unforeseen circumstances rather than a planned investment? You’re not alone. This guide covers 7 essential considerations to help you become a successful ‘accidental’ landlord.

    Understanding Accidental Landlords
    An ‘accidental landlord’ is someone who rents out a property due to circumstances rather than a deliberate investment decision. Common scenarios include:

    Moving in with a partner
    Inheriting a property
    Temporarily relocating for work
    Needing to move but struggling to sell a home

    If any of these situations apply to you, renting out your property can be a good source of extra income. However, there are important legal steps to follow. Here’s a 7-step guide to help you start your journey as a successful ‘accidental’ landlord.

    Step 1: Check the Mortgage

    First, determine if your property has a mortgage. If it’s a standard residential mortgage, inform your lender about your intention to rent it out. Failure to do so could breach your mortgage terms, leading to increased interest rates, back-payments, fines, or even a demand for full repayment.

    Your lender might:

    Grant ‘consent to let,’ allowing you to keep your residential mortgage temporarily, usually with higher interest rates and additional fees.
    Require you to switch to a buy-to-let mortgage, which has different criteria, including rental income levels and loan-to-value ratios.

    Consult a buy-to-let mortgage broker to explore your options and secure the best deal for your situation.

    Step 2: Review Lease Restrictions or Covenants

    If your property is leasehold, check the lease for any clauses that restrict letting or specify tenant types. Possible restrictions include:

    Only owner-occupiers can live in the property
    Only single individuals or family units can rent the property
    Prospective tenants must be approved by the freeholder

    Ensure you understand these restrictions and inform your prospective tenants accordingly.

    Step 3: Seek Tax and Legal Advice

    Rental income is subject to tax, and property tax laws can be complex. Consult a property legal expert and a tax consultant specialising in buy-to-let to manage your property and profits efficiently. Planning for future property decisions, such as selling or passing it on, can significantly impact your profitability.

    Step 4: Check the Energy Efficiency Rating (EPC)

    All rental properties must have a minimum ‘E’ rating on their Energy Performance Certificate (EPC). The government plans to raise this requirement to ‘C’ by 2025. Consider making energy efficiency improvements now, such as upgrading insulation, installing double glazing, or updating the boiler, to meet future standards.

    Step 5: Consult a Professional Letting Agent

    Even if you plan to manage the property yourself, a professional letting agent can help you navigate the complex legislation governing rentals. They can expedite the process of getting your property ready for rent and offer ongoing benefits such as:

    In-depth knowledge of the local rental market
    Reliable systems for advertising, referencing, and maintenance
    Membership in professional bodies, ensuring high standards
    Acting as a buffer between you and the tenant in case of disputes

    Step 6: Ensure Health and Safety Compliance

    As a landlord, you must prioritise the health and safety of your tenants. Key obligations include:

    Ensuring the property is fit for habitation
    Installing fire safety measures
    Conducting periodic gas and electrical safety checks
    Providing an effective heating system
    Addressing risks like damp, mould, and trip hazards
    Securing the property

    Understand all legal obligations and invest in necessary changes to ensure compliance, especially if the property is an HMO.

    Step 7: Consider Refurbishment

    Successful letting hinges on attracting quality tenants and securing good rent. If your property isn’t modern or recently refurbished, you may need to invest in updates or new furnishings. Research similar rentals or consult a local agent to understand what tenants seek and make your property as appealing as possible.

    Get In Touch

    Letting a property involves navigating various legal and practical challenges. If you’re an accidental landlord looking to rent out your property, contact us for guidance on the local market and help to ensure your rental is successful now and in the future.

    Reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll arrange a consultation to help you with your first steps to being a landlord.

  • June 15, 2024

    A simple, step-by-step guide to selling your house

    Selling your home can be a challenging task, but with careful planning and attention to detail, it can be smooth and stress-free. Whether you’re upgrading to a larger property or downsizing, here are the steps you need to follow to get the best price for your home. This guide will walk you through the process of selling your home.

    Step 1: Choose a Reputable Estate Agent

    Start by finding a reputable estate agent experienced in selling properties in your area. Look for an agent with a proven track record of successful sales similar to your property. Research online reviews, ask for recommendations from friends and family, and consider visiting their office to get a feel for their professionalism and expertise.

    Step 2: Get a Valuation

    After selecting an estate agent, the next step is to get a valuation of your property. A reliable agent will offer a free, no-obligation valuation based on current market conditions and the state of your property. They will consider factors such as location, size, and condition to provide an accurate estimate of your home’s worth.

    Step 3: Prepare Your Property for Sale

    Before listing your property, ensure it’s in top condition. A well-presented home attracts more buyers. Spend time decluttering, cleaning, and making minor repairs. Hiring a professional cleaner for a deep clean and a gardener to tidy up the garden can make a significant difference.

    Step 4: Set an Asking Price

    Your estate agent will advise you on setting the right asking price based on their market knowledge and experience. Pricing your property correctly is crucial, as setting it too high or too low can discourage potential buyers.

    Step 5: Market Your Property

    Once your property is ready, your estate agent will handle the marketing. This usually involves listing your home on major property portals like Rightmove, Zoopla, and OnTheMarket. They’ll also promote it through their website, social media, and email campaigns. The agent will arrange viewings and provide feedback from potential buyers.

    Step 6: Receive Offers and Negotiate

    As buyers view your property, offers will start to come in. Your estate agent will relay these offers to you and help you decide whether to accept, reject, or negotiate. If you receive multiple offers, your agent will guide you through the process to ensure you get the best deal.

    Step 7: Agree on a Sale

    After accepting an offer, the buyer will typically conduct a survey. Both you and the buyer will need solicitors to handle the legal process (conveyancing). During this time, your estate agent will help resolve any issues and ensure the process moves smoothly.

    Conclusion

    Selling your home can be straightforward if you follow these steps. By choosing a reputable estate agent, preparing your property, setting the right price, and marketing it effectively, you can attract potential buyers and secure the best possible price for your home.

    Reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll arrange a free valuation. Your first step in getting your house sold!

  • June 2, 2024

    Style Your Garden to Sell in 6 Easy Steps

    What does your garden mean to you?

    Often viewed as a haven for entertaining and relaxation, studies show that the “right” garden ranks among the top three priorities for homebuyers. In this guide, we share six easy steps to style your garden and maximize its appeal!

    For us, a garden epitomizes entertainment, enjoyment, and peace. It’s no surprise that several studies highlight the garden as a crucial factor for potential buyers. Surrounding your home, both front and back, the garden is a substantial area often overlooked. However, this versatile space can make or break a sale and requires as much preparation as any room inside. We’re here to help!

    Tidying your garden is one thing, but styling it is another. Styling involves adding finishing touches with thoughtful layouts and accessories, elevating your garden to the next level. After trimming the hedges and pressure-washing the patio, the fun begins! By infusing your garden with style, you’ll exceed viewers’ expectations and showcase its full potential. Read on for six proven tips to enhance your garden with charming style.

    • Frame the Front Door

    The first area potential buyers see is the front door. Think about the inviting first impression you want to create. After refreshing old letterboxes, handles, and knockers, consider defining a pathway to the door with flower beds or potted plants interspersed with post lights.

    Frame the doorway or porch with hanging baskets and climbing plants. Alternatively, use candle-filled lanterns of varying sizes on either side of the door, grouped in threes for visual appeal.

    • Get in the Zone

    Divide your back garden into different areas by their intended purpose. This not only makes the space feel bigger but also more organized, showcasing the garden in its best light.

    Position dining and seating areas strategically to delineate zones. Define the main entertainment area with a weatherproof rug and comfy furniture. For a cozy yet sophisticated style, use a glass-topped table and cushioned dining chairs made from all-weather wicker or Lloyd Loom.

    If space allows, create a relaxation corner with an outdoor sofa or swing chair and a timber coffee table. Complete the snug look with a gas or electric heater.

    • Light the Way

    Illuminate your outdoor space with thoughtfully chosen lighting that looks great both day and night. Match the lighting to your interior theme. Bronze and copper fixtures provide an antique look suitable for period houses and cottages, while matte black and silvered patinas complement modern homes.

    Consider recessed floor lighting for decking areas to add an uplifting glow during darker months. Alternatively, intertwine festoon lights around an awning or gazebo, along the eaves of a shed or carport, or wrap them around trees to enhance a relaxed atmosphere

    • Play with Mirrors

    Illuminate your outdoor space with thoughtfully chosen lighting that looks great both day and night. Match the lighting to your interior theme. Bronze and copper fixtures provide an antique look suitable for period houses and cottages, while matte black and silvered patinas complement modern homes.

    Consider recessed floor lighting for decking areas to add an uplifting glow during darker months. Alternatively, intertwine festoon lights around an awning or gazebo, along the eaves of a shed or carport, or wrap them around trees to enhance a relaxed atmosphere.

    • Lift the Space with Color

    Use color to make your garden cheerful and inviting. Container plants are perfect for adding color to paved areas or courtyards. If flowers aren’t blooming yet, use colorful plant pots and baskets.

    For quaint, older houses, fast-growing climbers like wisteria or clematis can create a “wow” factor. In modern homes, trailing plants in hanging baskets can form a living wall of foliage. Wooden or galvanized metal step ladders are also creative for floral displays.

    Fill any bare patches in flower beds with easy-to-maintain perennials like hellebore, libertia, liriope muscari, and cranesbill.

    • Keep it Low-Key

    Avoid overwhelming your garden with excessive styling. Opt for furnishings that highlight texture over pattern and use calm, neutral colors for accessories. This keeps the space depersonalized and appealing to a broad range of buyers.

    Keen for more tips on how to style your garden? Or need advice on preparing your home for the market? We’d love to hear from you!

  • February 18, 2024

    How to choose the right letting agent: 7 things you should consider.

    7 THINGS TO LOOK FOR

    Finding the perfect partner has never been easier with apps and social media. Searching for love you can download an app and with the swipe of a finger find your dream match.Unfortunately when it comes to finding a lettings agent there isn’t an app for that!

    In our previous discussion, we delved into the advantages of partnering with a letting agent, emphasizing how they can save you time, money, and provide peace of mind. With over 13,500 estate agents in the UK, most of whom manage lettings, the task of selecting the right one might seem daunting.

    Choosing the perfect letting agent is akin to finding ‘the one’ in a romantic relationship. They should be responsive, reliable, and genuinely interested in your best interests. Just as compatibility matters in personal relationships, it’s crucial to ensure your values align with your agent’s approach. While corporate agents may boast impressive branding, it’s the substance beneath the surface that truly counts.

    Before committing to a partnership, take the time to acquaint yourself with the agent. Corporate and independent agencies may offer similar services, but their methods and level of personalization can vary significantly. Corporate firms, with their structured processes, may struggle to accommodate individual needs, whereas independent agents often prioritize customer service and adaptability.

    When evaluating potential agents, consider their familiarity with the local area. A deep understanding of the neighborhood can help attract suitable tenants for your property. Moreover, consistency of service is paramount. While corporate agencies may dazzle with their professionalism, personal touch and dedicated service are often the hallmarks of independent agents.

    Being part of the local community can also be advantageous, as it enhances an agent’s network and tenant pool. Independent agents, embedded in the neighborhood fabric, tend to foster stronger connections and may already have ideal tenants in mind for your property.

    While cost is a factor, quality of service should take precedence. Look beyond price tags and assess an agent’s track record, turnaround time, and customer reviews. Independent research, including scrutinizing online reviews and conducting mystery shops, can provide valuable insights into an agent’s reputation and performance.

    Furthermore, endorsements and qualifications signal an agent’s commitment to professionalism and ethical standards. Seek out agents affiliated with reputable industry bodies, such as RICS or NAEA, for added assurance.

    Finally, consider the agent’s philosophy and values. A client-centric approach, grounded in honesty and integrity, is indicative of a trustworthy partner. Ultimately, finding the right letting agent is a crucial step in ensuring the long-term success of your property investment. With diligence and careful consideration, you can find an agent who not only meets your needs but also helps you achieve your property goals.

    Remember, there are thousands of letting agents out there, finding the best fit is the most important factor. Choosing the best letting agent can help ensure your property stays let for the long term.

    If you’re considering starting out in lettings or an existing landlord, we’re eager to assist you. We can explore the range of services we offer and help you discover the ideal letting and management solution aligned with your goals as a landlord.

    Reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll gladly arrange a discreet and confidential conversation.

  • February 7, 2024

    Time to switch?

    Is it time to consider switching letting agents? As a landlord, your rental property likely stands as one of your most significant financial assets. Thus, ensuring it’s effectively let and managed is paramount.

    If your current letting agent isn’t meeting your expectations and you’re contemplating a change but unsure where to begin, this comprehensive guide provides all the necessary insights to facilitate a smooth transition.

    1. What you need

    As a landlord, entrusting a letting agent involves a significant level of reliance, especially if you’ve opted for a ‘fully managed’ service where the agent oversees both the tenant and property throughout the tenancy on your behalf.

    You depend on your letting agent to:

    • Secure a ‘good’ tenant who can consistently pay the rent on time and maintain your property.
    • Ensure compliance with all relevant legislation regarding both the tenancy and the property.
    • Maintain effective communication with you, keeping you informed of any legal changes impacting your interests.
    • Handle inspections, maintenance, and repairs promptly and economically.
    • Manage any tenancy transitions to minimize vacancy periods and sustain fair market rental rates.
    • Provide guidance on potential rent increases and advise on worthwhile property upgrades or modifications.

    Your rental property stands as one of your most significant financial assets, emphasizing the importance of effective letting and management. Your agent’s primary role should involve ensuring consistent rental income, covering your expenses, and ideally generating a profit. Additionally, they should maintain the property’s condition, providing a safe and comfortable home for tenants while safeguarding its capital value.

    If your agent is falling short of these expectations, you might be considering a switch. But how can you navigate this transition smoothly? Here’s a helpful guide:

    • Review Your Agreement Terms:
    • If your agent is solely responsible for finding tenants, giving notice should be straightforward. However, with fully managed services, there might be an initial tie-in period, delaying an immediate switch. Unless there’s a breach of obligations (see point 3!), the agreement will outline termination procedures for both parties and the required notice period.
    • Note: Many agreements stipulate continued fee payment to the agent as long as their introduced tenant occupies the property. Discuss this with your new agent to avoid overlapping management fees.
    • Secure a New Agent Before Giving Notice:
    • Unlike changing estate agents for property sales, timing is crucial when switching letting agents, especially if your property is currently tenanted. Ensuring continuous and proper management of your property is paramount.
    • Successfully managing a tenancy involves numerous systems, processes, and legal knowledge. Having a new agent lined up before giving notice ensures a seamless handover, minimizing the risk of overlooked tasks.
    1. Key Considerations When Selecting a New Agent
    • Do they possess Client Money Protection insurance? (Legally required)
    • Are they members of a redress scheme? (Legally required)
    • Do they belong to a professional industry body with a Code of Conduct? (e.g., Propertymark or Safeagent)
    • How do they stay informed about legal changes in the industry?
    • What are their fees, particularly for tenancy renewals?
    • Do they have a track record of successfully letting and managing properties similar to yours?
    • Do they have an appealing website and effective marketing strategies?
    • What is their average time to let a property and average annual void period?
    • If possible, seek feedback from one or two of their current landlords.

    These considerations provide valuable insight into the professionalism of the company and their capability to manage your property and tenants effectively. However, the ultimate point on your checklist is whether you feel a rapport with them. Since these are the individuals you and your tenants will interact with for the foreseeable future, possibly for years, liking their approach is crucial.

    Once you’ve identified the agent you wish to transition to, it’s time to notify your current agent.

    • Communicate Your Reasons to Your Agent:
    • Open and amicable discussions often lead to the best resolutions. Clearly articulate your reasons for wanting to switch to your agent. Consider making a list of these reasons before initiating the conversation.
    • If your agent acknowledges the issues, they might be willing to negotiate regarding any contractual tie-ins, especially if their tenant remains in the property. For instance, you could propose a one-time ‘introduction’ fee instead of continuing monthly payments until the tenant vacates.

    Importantly, ensure the old agent agrees to transfer the tenancy file to your new agent. This file should include tenant referencing information, deposit protection details, and gas check certificates. Also, confirm that they will liaise with the tenant to facilitate a seamless handover of rent payments and other responsibilities.

    Ensure that any agreements reached with your agent are formally documented.

    It’s crucial to note that every letting agent must be a member of either The Property Ombudsman or The Property Redress Scheme, as mandated by law. Both provide independent third-party dispute resolution services. If you’ve already discussed your reasons for leaving with your agent and have documented them, but the issues remain unresolved to your satisfaction, you can escalate the matter to the relevant redress scheme to seek resolution.

    1. The Final Step

    Engage Your New Agent

    The last crucial step is to engage your new agent. Be transparent about why you’re choosing to switch to them and clearly outline your expectations for their service. From our experience, a successful landlord-agent relationship hinges on effective communication. It’s vital to establish this from the outset.

    If you’re considering transitioning from your current agent, we’re eager to assist you. We can explore the range of services we offer and help you discover the ideal letting and management solution aligned with your goals as a landlord. Reach out to us today at 01706 356633 or enquiries@reside.agency, and we’ll gladly arrange a discreet and confidential conversation.

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