When looking for a new tenant for your property, it is important that you can find the right fit. Picking the wrong tenant can lead to multiple issues later down the line, even leading to rental disputes and legal action. In this blog, LevelUP will be giving you our top 8 qualities of a good tenant, look out for these, and you will be sure to find the perfect tenant for your property! <strong>Good credit</strong>It is important to complete all relevant credit checks when looking at a potential new tenant. This will show you how reliable the tenant is with paying off debts as well as any outstanding debts that could get in the way of making rent payments every month. This creates various problems, such as having to pursue legal action. No one wants to hand their money away to solicitors and pay court fees. So complete that credit check before getting any tenant to sign the dotted line. <strong>Household income is roughly three times the rent</strong>Another important quality of a good tenant is that they have a household income at least 3 times the rent. This ensures they will have enough income to deal with living expenses. This includes rent, and maintaining a good standard of living. With the upcoming rise in gas prices. You may even want to push this figure up slightly to ensure that the tenant can make monthly rent payments. Again the potential downsides of missed rent payments are something nobody wants to deal with. You can check this by getting confirmation of the tenant's payslips from the last 3/6 months. <strong>Stable history</strong>The next quality of a good tenant is stable work and rental history. This will ensure that you are renting to someone reliable who will not try and vacate the rental agreement early. High-value tenants won’t regularly be jumping from job to job or between different properties and tenancy agreements. You can find this information by having the potential tenant fill out a work and residency history form for the last 3 years. There is nothing worse than signing a tenant onto a 6-month lease, and they are trying to break it within weeks. They may even try holding rent payments as an incentive to break the agreement. <strong>Background check</strong>This goes with all the checks mentioned previously. Ensuring that you get employer and previous landlord references is a great way to ensure a good tenant is picked. They will be able to tell you about what the tenant is like as a person. Whether they turn up to work on time, pay rent on time, and generally how they have looked after the previous properties they have rented. Make sure to get more than just a previous landlord's reference, as they may stretch the truth to try and get rid of a difficult tenant. <strong>Cleanliness</strong>How clean is the person that you will be handing the keys to your property? How often will they be willing to clean up any messes such as spillages or general mess? This one can be difficult to gauge besides previous employer and landlord references. However, one sneaky way is to lead the potential tenant out to their car after meeting them to see how clean their car is. Someone who takes pride in their general cleanliness will be a great tenant to rent to. <strong>Notifies you of any maintenance requirements</strong>How annoying would it be if the tenant had a simple maintenance problem, but did not report it due to its supposed harmless nature? This small problem can quickly turn into a big problem, such as a leaking pipe can eventually lead to flooding. It may seem minor at the time; however, the potential risks are not worth it. Regular maintenance is an important part of any property. So if you are receiving no maintenance calls from a tenant, it may be worth having a scheduled check of the property. <strong>Easy to communicate with</strong>Along with paying rent and keeping on top of maintenance requirements. Good communication is vital between tenants and landlords. How easy is the potential tenant to get hold of during the initial stages of the process? How polite are they? These are all important points to focus on when looking for the qualities of a good tenant. We are not suggesting that someone having a bad day is not a reason to rent to them. But it is something to be subconsciously aware of if you are having to pick from a choice of tenants, as is often the case. <strong>Pays rent on time</strong>The most important of our qualities of a good tenant (and one we have touched upon already!) Is that the tenant will pay the rent every month. If this is not likely, then do not even consider the application. Especially to simply ‘get the property off the market.’ The top-quality tenants are out there, and it takes merely a bit of patience and the proper property promotion to find them. This is where LevelUP can help you. As expert <a href="https://leveluppropertymanagement.com/residential-property-management/">property managers</a> we can take every single one of these headaches off of your hands. Screening tenants? All done. Collecting rent? We’re on it. Being available to sort out maintenance queries? We are all over it. We will look for all of these top tenant qualities and keep you informed along the way. <a href="https://leveluppropertymanagement.com/contact/">Contact us</a> today to find out more about how our property management services can help you as a landlord! Ready to become a rental property expert? Check out our blog on <a href="https://leveluppropertymanagement.com/2022/01/25/the-10-top-features-of-a-profitable-rental-property-level-up/?preview_id=508&preview_nonce=b64a9998b3&_thumbnail_id=180&preview=true">the top 10 features of a profitable rental property</a>.
The decision to invest in a residential rental property is exciting, yet risky at the same time. Whilst you will always look to find a property that holds its initial value and grows with inflation. You may be asking yourself what you should be looking for when identifying a rental property to invest in.The key is patience. Looking for the right things to ensure minimal work needs to be done before the property is functional. The key to a profitable rental property is attracting the right tenants and being able to charge enough rent to make a profit. With this in mind, we look to discuss our top 10 features of a profitable rental property. <strong>1 - Good Schools</strong>Look for properties with good local schools. These will attract more families as potential tenants. Families tend to be reliable for year-round rental payments as their children become settled at their new school. Longer tenancies with families are more likely with good primary and secondary schools in the area. <strong>2 - Low crime rate</strong>The crime rate of an area will be a factor in your tenant's decision. Therefore, it is ideal to find a property that is based in a low crime rate area. A scenario that often occurs, is that a potential tenant will be enticed by an advert. They will then make an inquiry, however after further research into the area. They will discover a high crime rate and be put off. Petty theft and car crimes are big detractors to property values and the prices that landlords can charge for rent. It is important to consider this when looking for a profitable rental property. <strong>3 - Garden</strong>If a prospective tenant is looking to buy a small family home to rent, having a garden or space for a garden will make your property much more desirable. Every family wants their own space for the kids to run around safely, have barbecues in the summer and allow the family pets to roam around in. Having a garden will also allow you to charge more rent and still attract your ideal tenant. <strong>4 - The average rent in the area</strong>This comes with assessing the local area. When completing a search, it’s important to look at the average rent for similar properties in the area, as this will tend to be the going rate. If the average rent of the property will be too low to cover all of the costs associated with being a landlord, such as a mortgage and other fees then forget that property. <strong>5 - The type of area</strong>Is the property in a modern city with vibrant nightlife and plenty of amenities? Or is it in a village with some key local amenities more suited to a quiet life? Keep your ideal tenant in mind when looking at areas to purchase property in. A young professional will want to be as close to the city they work in as possible, as they seek out good nightlife locations and other social things to do in the area. In contrast, some people prefer to live in a quieter location and have more space; along with lower crime rates and good schools. <strong>6 - Age of the property</strong>Although they do bring charm, properties that have aged tend to bring several issues that are difficult and expensive to fix, including asbestos, window replacements, or a new heating system. There can also be issues with some new builds, particularly ones that are rushed to be built to a deadline. There have been examples of some new builds being built on unstable ground and sinking slowly into the earth. It’s important to look at the age of a property when considering whether it will be a profitable rental property, which comes with having all the relevant safety checks completed by a quality surveyor. <strong>7 - What issues does the property need fixing?</strong>Having to fix a number of issues with your property before it can be put on the rental market eats away at profits in two major ways. One is the time it will take which reduces the amount of time you can have tenants in there paying rent. The other is the cost of having these problems highlighted to you as well as the cost of having them fixed. Highlight all issues, the time they will take to be fixed, and the costs so you know where you stand before making any decisions. <strong>8 - Transport links</strong>What are the transport links like in the area? The key to a profitable rental property is to have solid transport links available in the area. Are there good train links in town? How are the roads? Are they constantly in disrepair or being fixed? This will definitely affect the potential profit of your rental property so be sure to consider this when looking around. <strong>9 - Vacancy rates</strong>Another factor to consider when looking for a profitable rental property is the vacancy rates in the area. An area with high vacancy rates will mean that other landlords are having to reduce the rates of rent that they charge to keep up. Looking at the trends of vacancy rates over time is useful as well. These can be particularly relevant in university towns/cities where students rent for the term time and tend to vacate in the summer periods. <strong>10 - Can you afford the property?</strong>The last (and most obvious) thing to think about when purchasing a profitable rental property is whether you can afford all of the payments involved. Paying the mortgage, solicitor fees, and other expenses can really add up. Mortgage lenders also tend to require a higher deposit when you are buying to rent. Look at what rent you will likely be charging, what your expenses will be, and find the difference. You must then take into account how likely you are to have this income coming in securely every month wherever possible. Don’t take these decisions lightly as it can be difficult and take months to sell your property once it has been purchased. <h2><strong>BONUS TIP</strong></h2>If you follow these tips and decide to dip into the buy to rent market. Factor in a property management company to handle all of the drawn-out processes following the purchase. These include quarterly property inspections, managing maintenance, collection of rent, marketing, accompanied views, and more. Here at Level UP Property management, we can help you with all of this and more. If you would like to find out more about the <a href="https://leveluppropertymanagement.com/residential-property-management/">residential property management services</a> we offer, please get in <a href="https://leveluppropertymanagement.com/contact/">contact</a> with us today.
<h2><b>How a letting agent can help.</b></h2><span style="font-weight: 400;">Being a landlord is great most of the time, property is a solid investment as it tends to hold or increase in value with inflation. However, having to deal with tenants not paying rent can be one of the more tedious and long winded aspects of being a landlord. From having to file a section 8 or section 21 notice, court hearings and even having to sort out bailiffs the process is not fun for anybody involved. Having a <a href="https://leveluppropertymanagement.com/lettings/">letting agent</a></span><span style="font-weight: 400;"> </span><span style="font-weight: 400;">can take much of the stress of this process out for you as a landlord. We will chase up rent payments, sort out tenancy agreements, property inspections and many of the other headaches associated with being a landlord. </span>If you're struggling to deal with tenants not paying rent, read our article and get in touch with one of our friendly letting agents.<h3><b>So how can you deal with a tenant not paying rent?</b></h3><b>Hear them out</b><span style="font-weight: 400;">It will be rare for a tenant to simply not want to pay rent. Difficulties with finances, overworking and even just forgetting that month or losing a job. There are many reasons why a tenant will not pay rent and it happens more frequently than you would think. Around 6% to 7% of tenants are in arrears. Currently this is more than double the percentage it was before the pandemic. Times are hard... so the best way to get a tenant to pay any money owed is to be on their side and simply hear them out. </span><b>Alternative payment solutions</b><span style="font-weight: 400;">Failing this you can look at alternative payment solutions. If the tenant is struggling to make rent, you can look into things such as potentially reducing rent for a short period of time. Make sure that you have it in writing how long this will last for as well! They can also explore housing benefits if a sudden crisis such as losing a partner or losing their job.</span><b>Have a standing order set up</b><span style="font-weight: 400;">An easy way to avoid forgetful tenants is to have a standing order set up with your client and their bank. This means that the money will automatically come out on a set date. This eliminates any chance of the tenant forgetting to pay rent! We are all busy people these days and time is becoming a more and more valuable asset. Simplify your rent collection process this way.</span><b>Ask the tenant to leave</b><span style="font-weight: 400;">An easy way to cut losses and look to the future when a tenant is not paying rent, is to cut your losses and ask the tenant to leave. This is not ideal but with a mortgage to pay on your part, your investment relies on the rent coming in to make it viable. Getting the current tenant out for a more reliable tenant can sometimes be the only option. This is a last resort and it is always best to try and work out a different solution if possible.</span><h3><b>How to legally request that a tenant leaves the property</b></h3><span style="font-weight: 400;">So If you feel there is no other option but to request that a tenant leaves the property then there are two options dependent on the length of the tenancy so far, these are:</span><b>Section 8 notice - </b><span style="font-weight: 400;">If the tenant is within the first 6 months of their tenancy agreement then you can issue a section 8 notice. You must request this from a court. The section 8 notice will need to stipulate exactly what the tenant has done and why you think you are justified in asking them to vacate the property. For example if the tenant is not paying rent and is refusing to work out another solution. Then you are entitled to ask them to vacate the property early. You must give the tenant between 2 weeks and 2 months notice to vacate with this notice.</span><b>Section 21 notice - </b><span style="font-weight: 400;">This notice will normally come into play after the typical 6 month fixed term period of a lease agreement. You must give the tenant 2 months notice to vacate the property and include a specific date that they need to have vacated the property by.</span><h3><b>The notice period has expired and the tenant has not vacated the property</b></h3><b>Standard Possession order</b><span style="font-weight: 400;">If the tenant has not left after the departure date you have given then you can apply for a standard possession order. This must be applied for with the court and carries a fee of £355 to apply. This will mean that the court writes to the tenant requesting that they leave within a specific date usually after around 6 weeks.</span><b>Warrant of possession</b><span style="font-weight: 400;">If the standard possession order does not work you can then apply for a warrant of possession. If given, this will allow you to get bailiffs to remove the tenant from the property. </span><span style="font-weight: 400;">With all this in mind you might be asking yourself is it all worth it? Spending months in and out of expensive trips to courtrooms with no guarantee that the rent owed will be given. Valuable time given up with possibly no reward at the end. Are there any alternatives meaning you won’t have to deal with any of these time consuming and unrewarding processes?</span><h3><b>Hire a letting agent</b></h3><span style="font-weight: 400;">A letting agent such as Level Up can assist you with setting up any of these methods, reducing the amount of time that you are dealing with a tenant who is not paying rent. Even if this happens then we can deal with all of the long winded processes involved. Our team has been there and done that with all aspects of property management. This includes dealing with difficult tenants. <a href="https://leveluppropertymanagement.com/contact/">Contact us</a></span><span style="font-weight: 400;"> </span><span style="font-weight: 400;">today to discuss how we can manage your properties so you can relax!</span>
As a landlord renting your property out to tenants on the property market, you have a number of obligations and responsibilities. These are written into law and certainly aren’t optional. If you want to make sure that you don’t land yourself in hot water, it’s important to understand these obligations.To help make things as clear as possible to you, we’re going to cover what you need to know about these vital obligations and responsibilities. So read on now to find out more.<h3>Meeting Safety Standards</h3>The first duty a landlord has to their tenant is to provide a home that’s safe and meets all the legal safety standards. Each floor of the property must have a smoke alarm fitted and any rooms with coal fire or wood burning stoves must also have a carbon monoxide detector in place.Gas appliances must come with a valid gas safety certificate, relevant fire safety standards must be met and all electrical devices must be safe to use, which means PAT testing them. Relevant local authorities have the right to assess your property for potential hazards and any safety breaches that might be present.<h3>Energy Performance</h3>When you’re a landlord, you need to purchase an EPC for the property, and this is something that needs to be done before you find a tenant to fill it. An EPC is an energy performance certificate. The certificate will give your property a rating, and the minimum rating you need to have before letting it out is an E.As of 2018, it became a breach of the legislation to rent out a property that has a lower energy rating than that. And there are fines in place for people who break this rule, which can rise as high as £4,000.<h3>Right to Rent</h3>Landlords now have a duty and responsibility to ensure the people they’re providing accommodation to and renting out their properties to have a right to rent. That means, in most cases, checking to see that the tenant has the right to legally reside in the UK.If a landlord rents out a property to someone who the government classes as an illegal immigrant who doesn’t have the right to reside here, there are penalties that they can receive. The maximum is 5 years prison time. So it’s worth making sure you don’t overlook this when finding tenants for your properties.<h3>Protecting the Tenant’s Deposit</h3>As the landlord, you’ll be paid a deposit by the tenant for potential damage caused by the tenant during their stay in your property. But when you receive the deposit, you’re obligated to protect the tenancy deposit with a deposit protection scheme that’s been approved by the UK government.It can be more difficult for you to bring the tenancy to an end and you can face fines if you fail to protect the deposit in a way that’s considered adequate. Unless there’s a dispute over damage to the property or any rent that hasn’t been paid, the deposit must be returned to the tenant in full at the end of the tenancy.<h3>Repairs</h3>When there’s a problem with the property and its structure, it’s the responsibility of the landlord to fix these issues and ensure repairs are carried out in a timely manner. So, any problems with the walls, roof or any other aspect of the structure have to be taken care of by the landlord of the property.Cracked windows, boiler problems, leaks, chimney problems, wall issues and drain and guttering problems are also all the responsibility of the landlord. If you choose a managed service delivered by a property management company, maintenance can be taken care of for you.<h3>Accessing the Property</h3>As a landlord, it’s important to be very careful when it comes to accessing a tenanted property. Even if you’re arriving to carry out repairs or inspections, you can’t simply arrive at random or time of your choosing if it interferes with your tenant’s right to privacy.You need to provide your tenant with a reasonable amount of notice and arrange a time to visit when it’s suitable for them for you to arrive. This is something that should ideally be written into your tenancy agreement so you can be sure that everyone is on the same page.All of these things should be taken seriously by landlords, as they’re considered essential parts of operating as an ethical landlord. These are also legal obligations and responsibilities, and the last thing you want is to go through expensive court proceedings as a result of unnecessary mistakes.Generally, if you have a number of properties, it’s always best to hire a property management company to keep on top of all of your legal requirements and maintenance. Based in Milton Keynes, LevelUP property management can handle each of the elements above. Read more about our <a href="https://leveluppropertymanagement.com/property-management-milton-keynes/">property management in Milton Keynes here.</a>
If you’re a landlord or you’re about to become one, it’s important to consider how your property is going to be managed once there are tenants in it. It’s something that so many landlords overlook, and they then end up regretting it later.There are many benefits that come with choosing a property management company. Otherwise, you’ll end up dealing with a lot of issues yourself. In reality, these things can be taken care of by a property management company acting on your behalf. Here are the benefits of choosing this option.<h3>An Accessible Point of Contact for Tenants</h3>Having a point of contact for tenants is obviously essential, but many landlords can’t dedicate their time to be an accessible point of contact that’s always there and ready to respond to tenants. With a property management company, they can offer a 24-hour service and respond to tenants on your behalf. That covers times when you wouldn’t ordinarily be available.Listening to and reacting to problems and complaints from tenants is a lot of work and it’s not to be underestimated. For most problems, a management company can take care of these issues for you and they won’t need you to be involved or consulted, meaning you don’t have to do much work at all when there’s a management company on the case.<h3>Lower Chance of Legal Issues Arising</h3>As a landlord, you won’t want to get involved in any unnecessary legal battles. That’s clear. However, this can happen but can be avoided or have the risk reduced by working with a property management company.Unlike many landlords, especially ones new to all this, property management companies know the law, what it means in practice and any changes to the law that might happen. If you put trust in them, you’ll know that the situation is being dealt with by knowledgeable professionals. You won’t have to worry about doing it all alone.<h3>Tenants Will be More Likely to Stick Around</h3>When you’re trying to rent out a property, the last thing you want is a high turnover of tenants. If you’re offering a slow service to tenants when they have a problem, they’ll be much less likely to stick around and might look to rent a property somewhere else instead if they’re not happy with your performance as a landlord.But if you choose a property management company, they’ll be able to dedicate more time and manpower to responding to issues tenants have. And as a result, your tenants will be much happier and more likely to stick around. Tenants want the peace of mind that comes with knowing they’re going to be looked after when a problem arises.<h3>Ensures Rent is Consistently Paid On Time</h3>Having the rent you’re owed paid on time is a top priority when you’re a landlord. However, this is one of the most common problems landlords face when renting out their properties. CHasing rent can be tiring, frustrating and often awkward, and that’s not what anyone wants to be dealing with.Having a property management company working on your behalf means that you don’t have to waste your time chasing overdue rent payments. Instead, the property management company takes care of that for you. They can enforce the rules and ensure you get the money you’re due on time. It’s a tough task so it’s nice to have someone else do it for you when necessary.<h3>Access to an In-House Maintenance Team</h3>Maintenance can be frustrating, and there will often be things that you don’t have the tools or capabilities to take care of yourself. But those fixes still need to be made due to your legal obligations as a landlord. The best solution to this and the one many landlords take advantage of is working with a property management company.It’s a lot cheaper to have access to an in-house maintenance team as part of your agreement with your property management company than to hire an external team to take care of maintenance for you. The team will also be able to become familiar with the tenants living in your property over time.Anyone who’s experienced problems as a landlord knows how tough it can be. And having an extra layer of management and support definitely makes your job a whole lot easier than it would otherwise be. So if the benefits discussed above appeal to you, be sure to consider using a property management company for your tenanted homes.Generally, if you have a number of properties, it’s always best to hire a property management company to keep on top of all of your legal requirements and maintenance. <a href="https://leveluppropertymanagement.com/property-management-milton-keynes/">Based in Milton Keynes, LevelUP property management</a> can manage properties around London and the home counties. Get in touch with us today for more information.
Introduced through the Commonhold and Leasehold Reform Act of 2002, the Right To Manage (or RTM, or right to management), offers leaseholders in a property to take over the management of the building, even without the agreement of the landlord. Though this may be a scary notion for landlords and letting agents, it’s important to take a closer look at what that can mean, the costs, the benefits to tenants, and the process.<h3>What is ‘Right To Manage.’</h3>Right To Manage (RTM) offers leaseholds the right to take over the management of the property by setting up a specific type of organisation (called a right to manage company). It’s not necessary for the leaseholders to gain landlord approval, to prove mismanagement, or even to seek out a court order. However, RTM companies do have very real responsibilities that they have to meet. These responsibilities include managing and collecting service charges, upkeep for communal areas and building structures such as the roof, as well as handling complaints.<h3>The process</h3>To qualify for RTM, the building must be at least partly self-contained, have at least two leasehold flats within it, have no more than 25% floor area that isn’t residential, and must have at least 66% of the leaseholders having leases that are longer than 21 years. Furthermore, more than half of the leaseholders that quality has to be in favour of forming an RTM company.It takes around five-to-seven months to register an RTM, and notices must be served in accordance with the law to make sure that the company is fully compliant with all the relevant regulations. It’s easy to miss out on some of the more technical aspects of the registration, though the process is relatively straightforward, so it’s usually recommended to do so with the help of a property management company.<h3>How much does right to manage cost?</h3>The costs of setting up an RTM can depend, as they have to follow specific formats under the law. Information has to be downloaded from the land registry. For each title associated with the property, it costs £3, and there are postage costs for sending the necessary notices that have to be served. Photocopying costs for keeping copies of notices and other documents must also be considered.There are also claim notice costs, and costs for the tribunal to determine if the leaseholders have the right to form an RTM. These costs are only incurred if the leaseholders aren’t found entitled to the Right to Manage. To find out the specific costs, it’s important to ensure you’re working with a professional, experienced property management team who understands the Right to Manage process and the specifics of your property.<h3>Is Right to Manage a good idea?</h3>For disgruntled tenants and leaseholders, a Right To Manage Company can allow them a much more direct control over the property that they live in. It can cut down on delays on repairs and maintenance, and allows you to be involved in the decision making process of how your money is spent. If the leaseholders are willing to take on the responsibility, they may find it worth it.Want to find out more? Get in contact with our <a href="https://leveluppropertymanagement.com/property-management-kent/">property management team in Kent</a>, London, or <a href="https://leveluppropertymanagement.com/property-management-milton-keynes/">Milton Keynes. </a>
They’re often seen as the front-end of the property industry, it’s safe to say that most people are familiar with the day to day roles of a property manager. But what about the actual job of a property manager? What is a property manager, and what does a property manager do?<h2>What is a property manager?</h2>Well let me put it this way, a property manager is essentially the bread and butter of the property industry. Without the support and work of a property manager, the industry would essentially not be running as smoothly as it is now, and that’s an understatement. Property managers are vital in making sure that a property can hold or increase its value, they have a wide range of responsibilities. Property managers also collect service charges from the leaseholders in accordance with the terms of lease. Service charges include management fees which is the fee for the service.<h3>What does a property manager do?</h3>Property managers manage a property in accordance with the terms of the lease and the statutory requirements on behalf of their client. They also wear many hats as property managers require the knowledge of landlord and tenant law, health and safety, accounting, construction and so much more.Professional management comes with many benefits and the services that are being provided by a property manager is covered within a managing agreement. Property management duties are based on a contract rather than legislation and the marketing agreement, covers the duties a client has asked a property manager to carry out.<h3>Who appoints a property manager?</h3>A property manager is appointed by a person or company who has the legal responsibility to see the delivery of services of the landlord under the terms of lease. Owners of a flat can get management responsibilities by freehold of a building. Freeholding is where the owner of the land doesn’t have a time limit to their period of ownership.<h3>Property management agent responsibilities</h3>A property manager may provide a wide variety of duties, such as:<ul> <li>Being responsible for managing rent – Collecting rent is a major responsibility of a landlord. This means that it’s one of the most common jobs a landlord would pass to a property manager to carry out. The rent responsibilities of a property manager may include:</li> <li>Setting the rent – A property manager would set the correct rent level to attract potential tenants to the property. In order to determine the right range of rent, the property manager would look at the market where the property located and compare it to other properties in the same area.</li> <li>Collecting the rent – The property manager will then set up a system of collecting the rent. In order to maintain optimal cash flow, they’ll set a date to collect rent each month and may enforce late fees.</li> <li>Adjusting the rent – The property manager is then able to increase the rent each year, they’re also able to decrease it when necessary.</li> <li>Maintenance and repair roles –The property manager must keep the property in safe and habitable manner. They’re responsible for the physical management of the property which includes emergency and regular repairs. An example, however, could be damage to windows. This would depend on the terms of a lease as almost every drafted lease sets out respective obligations of the leaseholder and landlord to repair various parts of a building.</li> <li>Financial services – the property manager may be responsible for a wider range of financial matter for the owner of the property such as general accounting.</li></ul><h3>How to find the right property manager</h3>The first thing to consider when approaching a property manager would be to discuss how many properties they’re managing. You could then learn more about the business by asking questions such as if they currently own rental properties themselves.Or better yet, come to us. Here at LevelUp, we’re looking to challenge and modernize traditional methods of management by ensuring we’re readily available to respond to residents. We believe we’re the most contactable property managers around (how’s that for confidence?). We’ve got you covered, we’re experienced in assisting leaseholders, right to manage and resident’s management companies in changing property management. We’re also a friendly bunch! We enjoy visiting residents and the communities that surround them. We also host informal events to bring residents together! If you’re looking for a reliable property manager, please feel free to contact us for further information at firstname.lastname@example.org.You can find our <a href="https://leveluppropertymanagement.com/property-management-kent/">property managers in Kent </a>and <a href="https://leveluppropertymanagement.com/property-management-milton-keynes/">Milton Keynes.</a>
<strong>At</strong><b> LevelUP, we aim to be transparent and change the way the property management service is delivered. So, in this month’s blog we’re going to give you some tips on how to tackle leasehold management company problems, list property management complaints and more.</b><h3><b>How to make a complaint against your property manager</b></h3><span style="font-weight: 400;">When it comes to property management, there may come a time when you may need to complain about your property agent. If you’re unhappy with the service being provided to you by a property agent, there are steps that you can take which will be provided below. But before we start, there are various types of property agents and it’s great to know the difference between them.</span><ul> <li style="font-weight: 400;" aria-level="1"><b>Estate Agents</b><span style="font-weight: 400;"> – Market and sell properties to potential buyers. They’re usually employed by estate agencies.</span></li> <li style="font-weight: 400;" aria-level="1"><b>Managing Agents</b><span style="font-weight: 400;"> – A person or a company that manages property for an external owner.</span></li> <li style="font-weight: 400;" aria-level="1"><b>Letting Agents –</b><span style="font-weight: 400;"> Like estate agents, letting agents market and sell properties to potential buyers, the difference being that letting agents find tenants to rent properties in place of a landlord. They can also manage properties for the owner.</span></li></ul><span style="font-weight: 400;">Now that we’ve listed the differences between the different types of agents, let’s get to the main task at hand. Common complaints against your property manager and what to do about them.</span><h3><b>Common management company complaints</b></h3><span style="font-weight: 400;">Property management can be a tricky business. However, when it boils down, it’s a service-based industry meaning that your property manager should have your wellbeing at the forefront on their minds. You should expect them to maintain or maybe even exceed the standards set by the industry. It’s also important to be mindful about what may or may not be outside the property manager’s control.</span><span style="font-weight: 400;">Here are some of the most common property management complaints and tips on how to avoid them:</span><h3><b>Charging above market rent</b></h3><span style="font-weight: 400;">Rents are the main income stream for real estate investors therefore, the rent should be on par with the current market rates in order to increase potential income. Performing comparable rental listings or “rental comps” to help determine the value of a property to others on the market can help with this problem.</span><h3><b>Hidden fees</b></h3><span style="font-weight: 400;">Hidden fees are a massive problem in any industry so let’s help you avoid them. To avoid hidden fees, make sure you read a property management contract thoroughly before signing it and ask questions to get a better understanding of anything you do not understand. (There’s recently been a change in law so that agents can’t charge administration fees anymore).</span><h3><b>Mixed messages from a company </b></h3><span style="font-weight: 400;">To avoid getting different answers to the same question, ensure that you ask a salesperson about staff you may be dealing with once you’ve signed up in order to avoid future problems.</span><h3><b>Placing a bad tenant</b></h3><span style="font-weight: 400;">One of the most expensive mistakes in property management is placing a bad tenant. Make sure tenants are screened accordingly and keep communication to a healthy level to avoid any issues between a landlord and tenant.</span><h3><b>Not keeping promises </b></h3><span style="font-weight: 400;">A poor property management company can promise the world and give you deadlines for work to be done. The date comes and deadline comes and goes – without a word from your managers. Although delays happen, it’s important to manage the communication before complaints are made!</span><h3><b>Poor Communication </b></h3><span style="font-weight: 400;">Communication is crucial and non-communication can be a big deal breaker. A property manager should be communicating with a client regularly. And should be comfortable with a variety of communication methods and reports should be consistent on a monthly basis or depending on how their business operates, and questions should be answered quickly and clearly.</span><span style="font-weight: 400;">Other common problems:</span><ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">High maintenance fees</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Zero transparency</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Lack of interest</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Poor response times in emergencies</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Complaining directly to the agent</span></li></ul><span style="font-weight: 400;">If you do have a complaint against your property manager, it could help to speak directly to the agent first in order to put things right before you escalate your complaint.</span><span style="font-weight: 400;">Agents may not be able to resolve complaints immediately, therefore communication between an agent and client is vital.</span><span style="font-weight: 400;">Furthermore, if you’re not pleased with the way an agent handles your complaint, you could make a formal complaint to see that the issue is resolved. Give LevelUP a call and we will advise you on how to complain to your management agent.</span><h3><b>Changing your property manager</b></h3><span style="font-weight: 400;">With the current numbers of dispute with property management companies rising fast, it’s now common for clients to end contracts with property managers due to agreed terms not being met or having management company complaints. Here’s where we come in. We’re experienced in helping leaseholders, right to manage and resident companies change management services.</span><h4><b>What are your 3 options?</b></h4><span style="font-weight: 400;">If you’re not happy with your current situation, you have several options to help you change property managers. There’s three main ways to change your property management company which are:</span><ol> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Appointing a new manager through a tribunal, using your right to manage, or setting up a resident’s association. We talk about how to change your property manager in detail here.</span><span style="font-weight: 400;"></span><span style="font-weight: 400;">Appoint a new manager via a tribunal. </span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">In order to appoint a new manager, you need to be able to prove bad management. The first step is to send a landlord a section 22 notice, which will grant them the opportunity to fix the problems you’ve addressed. If this fails, you can apply to the first-tier tribunal to ask a new manager to be appointed.</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Exercise your right no manage</span><span style="font-weight: 400;"></span><span style="font-weight: 400;">Leaseholders of flats have a right to manage, which enables allows them to take over the management of their property, they’re able to do this without a landlord’s permission by creating a right to manage company. It’s not necessary to prove bad management, although a minimum number of leaseholders needs to take part to set up the company.</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Create a resident’s association</span><span style="font-weight: 400;"></span><span style="font-weight: 400;">The final option is to form a resident’s association, this is a group of leaseholders that lease from the same landlord and have similar terms.</span></li></ol><span style="font-weight: 400;">Read the </span><a href="https://leveluppropertymanagement.com/how-to-change-property-management-company/"><span style="font-weight: 400;">full article on how to change property managers here</span></a><span style="font-weight: 400;">.</span><span style="font-weight: 400;">LevelUP are experienced in assisting leaseholders, Right to Manage and Residents Management Companies in changing management services. Please feel free to contact us for further information at email@example.com or call us on 01322 907033. </span><span style="font-weight: 400;">You can find out about our </span><a href="https://leveluppropertymanagement.com/property-management-kent/"><span style="font-weight: 400;">property management in Kent here</span></a><span style="font-weight: 400;">. </span><h3><b>Related Reading</b></h3><ul> <li style="font-weight: 400;" aria-level="1"><a href="https://leveluppropertymanagement.com/how-to-change-property-management-company/"><span style="font-weight: 400;">How to change property management company </span></a></li> <li style="font-weight: 400;" aria-level="1"><a href="https://leveluppropertymanagement.com/property-management-responsibilities/"><span style="font-weight: 400;">Roles and responsibilities – What does a property management company do?</span></a></li></ul><span style="font-weight: 400;">New </span><a href="https://leveluppropertymanagement.com/property-management-milton-keynes/"><span style="font-weight: 400;">property management office in Milton Keynes </span></a>
At LevelUP we have ambition and want to change the way property management service is delivered. We deliver a tailored, bespoke service through open and transparent channels of communication afforded to us by better use of new technology.We are delighted to be involved with the estate management of a unique luxury development of elegant apartments and townhouses, in a historical setting, surrounded by acres of parkland and magnificent views across the Chiltern Hills. The development itself is architecturally award winning and finished to superior quality.The developers, a considerate, family run Italian firm, have guaranteed the best fixtures and fittings, exporting all direct from Italy. The former hotel and manor house is grade II listed and is thought to have much historical importance in the High Wycombe area. <img class="aligncenter wp-image-140 size-full" src="https://leveluppropertymanagement.com/wp-content/uploads/2021/09/New-Client-LevelUP-working-with-unique-luxury-apartments.png" alt="" width="801" height="529" /> We’ve really enjoyed working on this project. Being involved from shortly after the development was granted planning has been beneficial as we have been able to accurately prepare sustainability strategies, sinking funds and liaise with architects and engineers to maximise the services for residents. It’s also very close to our hearts as we have seen the building transform over the last year!We have attended Open Days, as well as conducting surveys and polls with potential residents deciding what amenities they would like on site, and the effect these will have on the service charge.We really enjoy working with clients who recognise the importance of what the residents want!If you want to find out how we are challenging traditional methods of propertymanagement then please do drop me a message.Thanks,Dan
<b>The number of disputes across the country with property management companies (also known as </b><a href="https://leveluppropertymanagement.com/block-management-company/"><b>block managers</b></a><b>) is rising fast. Ending a contract with your property manager due to the terms not being fulfilled is now a common occurrence – tenants are changing property managers more frequently than you think!</b><span style="font-weight: 400;">Not many leaseholders think they are able to change property managers, well they can! Before you change property manager you should ensure you understand the terms of the agreement and your legal rights. Get your facts right as ending a contract is very rarely straight forward, especially if one of the parties feels aggrieved by the action. If not, you may be breaching the lease too or could make the situation very tricky.</span><span style="font-weight: 400;">LevelUP are experienced in assisting leaseholders, Right to Manage and RMC’s in changing management services and lease enfranchisement.</span><span style="font-weight: 400;">So how can you change property managers? Our quick video on ‘How to Change Block Manager’ provides you with a step by step guide, or if you’d rather read the steps below.</span><b>Is there a cause to terminate?</b><span style="font-weight: 400;">Read the terms and check if they require cause in order to terminate the contract. Some do not. If cause is required, this will be described in the contract clearly. If no cause is required, you can terminate the contract for any reason.</span><b>Property manager breach</b><span style="font-weight: 400;">It would be in your best interest to terminate the contract if the managing agent has breached the terms of the contract. A breach can lead to putting your property and residents at risk. This should not be tolerated. Check over the contract to see whether the property manager has breached any terms. Identify the term that has been breached and gather any evidence of the breach to help with the request to terminate the contract.</span><b>Notice period</b><span style="font-weight: 400;">The contract will specify the notice period required to terminate the agreement; this can range from 30 – 90 days. If you do not abide by the notice period, your request to terminate may result in being ignored or as serious as being in breach yourself. Always be sure to pay attention to the notice period and follow it to the minimum length of time.</span><b>Providing notice to terminate</b><span style="font-weight: 400;">This should always be completed in writing with the date of which the termination will take effect. Do not email and always obtain proof of postage. This will ensure there is a written record of your notice to terminate. Include in your notice to terminate the reasons for terminating.</span><b>Receive confirmation</b><span style="font-weight: 400;">The agent should confirm the termination in writing stating the date at which management ceases. This continues the paper trail, and gives you a document that proves that the termination has been requested and completed. Be sure to keep the confirmation as evidence of the process.</span><b>Notify leaseholders</b><span style="font-weight: 400;">The leaseholders who pay a service charge should be notified that there is to be a change in the property manager. The current property manager may also do this. Notifying the leaseholders in writing is the best thing to do.</span><b>Handover of funds</b><span style="font-weight: 400;">At the stage of handover, the agent must hand over the balance of funds not required to meet commitments already made, with the balance being handed over with a statement of accounts. The balance should be passed within three months unless otherwise agreed.</span><b>Receive paperwork</b><span style="font-weight: 400;">The documentation that will be received at handover is that as stated in the management agreement.</span><h3><b>Your Three Property Management Change Options</b></h3><span style="font-weight: 400;">If you are unhappy with your property management company, you have several options to help you change. There are three primary ways to get your property management changed: asking as tribunal to appoint a new manager, using your Right to Manage, or setting up a Residents’ Association.</span><ol> <li><b> Appoint a new manager through a tribunal</b></li></ol><span style="font-weight: 400;">To appoint a new manager, it’s necessary to be able to prove bad management. For example, you might demonstrate that your manager hasn’t complied with an approved code of management practice. The first step is to send your landlord a Section 22 notice, which gives them the opportunity to fix the problems that you want to be addressed. If they fail to do this, you can apply to the First-Tier Tribunal to ask for a new manager to be appointed.</span><ol start="2"> <li><b> Exercise your Right to Manage</b></li></ol><span style="font-weight: 400;">Leaseholders of flats (although not houses) have a Right to Manage (RTM), which allows them to take over the management of their property. They can do this without the landlord’s permission by setting up a right to manage company. To exercise this right, it is not necessary to show your landlord is incompetent or hasn’t fulfilled their duties. A minimum number of leaseholders needs to take part to set up the company, and the building also needs to meet a few conditions. When the company has been established, it sends a notice to the landlord and can take over management of the company if successful.</span><ol start="3"> <li><b> Create a Residents’ Association</b></li></ol><span style="font-weight: 400;">Finally, you have the option of forming a Residents’ Association. This is a group of leaseholders who hold leases from the same landlord and with similar terms. The group represents the members to the landlord and can put them in a better position when dealing with issues between the residents and landlord. There are two ways to have the association formally recognised, which improves the group’s position. The secretary of the association can give a written notice to the landlord, or a certificate can be issued by the local Rent Assessment Committee.</span><span style="font-weight: 400;">LevelUP are experienced in assisting leaseholders, Right to Manage and Residents Management Companies in changing property managers. We’re on a mission to change the way property management is carried out, delivering a transparent and open experience. The residents we look after can contact us at any time and even through social media. We want to build happy communities so if you’re looking for a property management company that cares, read more about our </span><a href="https://leveluppropertymanagement.com/residential-management/"><span style="font-weight: 400;">residential property management services here.</span></a><i><span style="font-weight: 400;">LevelUP are experienced in assisting leaseholders, Right to Manage and Residents Management Companies in changing management services. Please feel free to contact us for further information at </span></i><a href="http://mailto:firstname.lastname@example.org/"><i><span style="font-weight: 400;">email@example.com</span></i></a>
Carla and her team have done some fantastic work supporting myself with portfolio of properties in a previous role. Carla and her team have always delivered a professional service and delivered some fantastic result while keeping there customers at heart of the business.
My dad has found himself in a bit of a situation with the property he was renting and had to take some very quick decisions… if it wasn’t for Dawn at Level Up, he would have had to go through a very hard time. Dawn has helped us with a completely kind, emphatic, yet professional attitude, and made a big difference to the whole process. We couldn’t be more happy. I highly recommend it!
After taking over the management of the property I reside in, Level Up Management has fixed all of the maintenance issues that have been ignored by previous companies fir more than 5 years.Through efforts of Level Up team, this property is now in decent state and has no problems. Level Up Management is a lovely team of professionals who know how to satisfy their clients. My special thanks go for Carla for making this happen for us. I would recommend Level Up to any one and every one.
The communication levels were excellent from levelup! Really easy to get hold of and very proactive in getting things sorted in our block! I’ve experienced numerous different property managers in a couple different developments and Freddy and the rest of the team have been a level above!
Since being transferred to level up the problems which I endured in my property have come to a swift and positive conclusion. Rapid response to any query I have and cannot thank Karla enough for all the work she’s done in ensuring the work in my property gets done quickly and to a professional standard. So glad to have been transferred to level up and to deal with a asset like Karla. Overall everyone I’ve dealt with in level up has been a great help and it’s a pleasure to come to them with any problems I may have.
Very professional company to deal with. Efficient and pro-active in their approach