Making Life Easy for Landlords
Private landlords face a vast array of problems and challenges owing to the amount of administrative, legal, and financial demands that they must meet. In the case of landlords who own property as a second form of income alongside their main job time is often is often in short supply to deal with the amount of paperwork that accompanies the process of letting a property to a tenant.
This might be one of main reasons so many rental properties remain vacant, despite demand amongst potential tenants reaching record highs – landlords just cannot get round to putting the property on the market again due to the time-consuming administrative requirements involved. All the while landlords lose money each day the property is unoccupied.
The pressures on landlords might be broken down into several categories. We can see fundamental financial pressure to get the availability of the rental property advertised, a good tenant found, and deposits received as soon as possible. Due to new government plans landlords will be facing the prospect of having to carry out lengthy background checks on the residency status of potential tenants.
Then there are ongoing demands on landlords to manage the property and respond to tenant issues and maintenance problems as swiftly as possible. Legal changes also mean that landlords must keep safety certificates and property policy documents up to date and their tenants informed.
Amongst the most frustrating issues that landlords face is finding time to deal with their own finances and rental income. Increasingly landlords simply hand over their financial dealings to accountants for them to calculate their tax. According to the website UKLandlordTax.co.uk, of the 1.4 million landlords across the UK, many of them are paying up to 6.54 per cent of their total annual rental income just for an accountant to fill in their tax return, despite much cheaper options being available.
Here at Robert Oulsnam and Company we see landlords facing these sorts of stresses all the time and offer a full letting and property management service to take the pressure off. We are members of the Association of Residential Letting Agents, the Royal Institute of Chartered Surveyors, the National Approved Letting Scheme, and the Surveyors Ombudsman Service.
We will arrange for your property to be appraised, photographed and then advertised and marketed to ensure you find a tenant as soon as possible, and will use our extensive mailing lists, website coverage, and local press advertising to attract tenants. Our staff can take on the responsibility of showing prospective tenants round the property, and will carry out the process of drawing up the tenancy agreement, sorting out the Gas Safety Certificate, and a full inventory of the property, before contacting utility providers. We can also provide comprehensive property management over the course of the tenancy.