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It takes a certain character to be a managing agent: the job has a reputation as a thankless task with days full of complaints, emergencies, breakdowns and hassle. And if we’re honest, rarely does anyone call with news that everything’s just fine.


But to be a managing agent is also to be the person who makes everything right. A property that never needs maintaining, or where nothing ever goes wrong, simply doesn't exist and emergencies rarely happen at a convenient moment: not for homeowners, not for tenants and certainly not for landlords. For a managing agent, they’re an expected part of the day.


Whether you’re an existing or budding landlord, you’re right to keep an eye on your outgoings. You might even have questioned whether a managing agent is really worth the expense. But do you include the personal costs as well? How much do you value your time and how you spend it?


This week’s blog is not to convince you to use a managing agent, but to show you how life could be if you did. From inspections, maintenance and easier accounting, to keeping you on the right side of the law and protecting you in the event of disputes, here are five one-minute morsels of how we look after our landlords, and what we could do for you.



KEEPING THINGS LEGAL

If one of your hobbies is scrolling through the government's website for changes in legislation regarding rental property, you are unlike anyone we know.


It's a time-consuming task and a rolling responsibility that many landlords fall foul of: you need only to look at the eye-watering number of landlords who lose disputes. If you get anything wrong in the legal process, the law will likely find in favour of your tenant.


But while landlord and lettings legislation is certainly a minefield, it’s not one you need to walk through. Managing agents are charged with knowing all there is to know and taking the appropriate action. It’s not something on top of our job: it is our job, and it’s made far more workable by having all day, every day to do it.


As soon as a new piece of legislation becomes law, we ensure that every single property we manage is brought in line and on time: our landlords rarely need to do a thing. Imagine if they all had to clear their individual days to find out precisely the same information as each other - how many wasted hours of life is that?



TRUSTED CONTRACTORS

Have you ever been in a conversation about the difficulties in finding reliable companies to repair something at your home? Or where a contractor came in, charged the earth and made the matter worse? Almost everyone has experienced some version of that.


It’s one thing waiting in for a plumber at your own home, but when it comes to meeting them miles away – and with a three-hour arrival window in the middle of winter – it’s really not the same. And if they don’t turn up at all, or you need to revisit when the works aren’t done correctly, it’s more hours out of your life and a less than happy tenant.


It’s taken us years – and plenty of tears – to develop a circle of trusted tradespeople. We’ve met disastrous contractors along the way, but our list of long-standing connections can deal with almost every kind of emergency and problem you can imagine. There’s rarely something that comes up that we haven’t dealt with before.


Our strong relationships mean that we often get priority treatment, with repairs attended to quickly, properly and at a reasonable cost: a win-win situation for everyone.



TAX RELIEF

Where do you keep your receipts? If you’re anything like most people it’s a combination of inside your wallet or purse; generously sprinkled across numerous pockets; and the occasional triumph involving the box file marked ‘receipts’ (a purchase made with perfectly good intentions, but rarely enjoying its intended role).


And when it comes to completing a tax return, we can add checking a year of credit card and bank statements, and trawling back through emails for online orders and purchases. The unappealing nature of the task means it’s generally left to the very last – and somewhat stressful – hours before the deadline, so unless your perfect drinking partner is the self-assessment website, it’s hardly an ideal evening for enjoying a bottle of Pinot Noir.


Now, just for a moment, imagine receiving a statement of all your income and expenditure for your rental property without a single piece of paper to lose. If all the information you needed was there to cut and paste directly into the self-assessment website, how much time, energy and brain space would that free up?


Some of our landlords tell us it’s worth the management fee alone.



REGULAR INSPECTIONS

Whether you’re an intentional or an accidental landlord, one of the main attractions of buy-to-let is the thought of passive income. But a truly passive income means doing nothing at all, and the act of owning a rental property doesn’t mean there’s nothing to do.


Most landlords are responsible people, and part of being a responsible landlord is visiting your tenants at regular intervals; not only to identify and discuss any maintenance or enjoyment issues, but also to nurture a healthy relationship. You’d certainly save time if you never inspected your property, but your message of disinterest might well be returned by your tenants.


It’s the same with your own home: when you actively keep an eye on things, you spot potential problems fast and prevent them becoming more complicated and costly. A fresh pair of eyes almost always highlights something that’s been missed or unreported, so inspections are an invaluable part of a tenancy.


But there’s no escaping that they are work, and they take time. Your time.



CONFRONTATIONS

The odd malfunction or minor repair is one thing, but when problems come one after another – or where your tenant experiences a change in circumstances, or becomes a nuisance – the relationship and communication can become strained.


You've probably had the experience where it feels like things keep going wrong at home: first the boiler; then the washing machine; then an extractor fan; then a tap. On their own they're tiny issues and often a matter of wear and tear, but the difference is that your extractor fan is not interrupting someone else's life. You might be a bit miffed when it stops working, but no-one is getting angry with you.


Now let's consider a tenant whose finances take a turn for the worse, or someone who causes problems among your neighbours, whether deliberately or accidentally. Thankfully these occasions are scarce, but there is rarely any warning and they can have major implications for you as the landlord, which might affect your ability to keep your cool.


Having a third party, and one of authority, to step in on your behalf can help alleviate situations fast, without them ever getting personal or overheated.



So how does that sound?

Are all of the duties of a self-managing landlord adding value to your life, or can you see the benefits in having them handled for you?


Think of a managing agent as a scientifically impossible preventative ibuprofen: you might not be able to plan for a physical headache, but you can reduce the risk of your rental property becoming a pain in the neck.


For us, emergency repairs, regular maintenance, changes in the law and unexpected events are not inconvenient interruptions: they’re exactly what we’re waiting for. We certainly don’t spend our days doing nothing, but we do spend them ensuring that you have nothing to do.


If you have a rental property in Harborne, Edgbaston or Selly Oak and you’re wondering how a managing agent could make your life as a landlord easier, why not get in touch? Even if you’re still on the fence, call us for a chat 0121 427 4777 or email us at info@truemanestates.co.uk we’d love to help you turn your rental property into a truly passive income.



RENTAL RECOVERY: WHAT CAN YOU DO WHEN YOUR TENANT PAYS THE RENT LATE OR LEAVES WITH ARREARS?

by John Trueman • 26 October 2022
Arrears - a dreaded word among landlords and, for anyone with even a mildly British temperament, an often uncomfortable situation to discuss and resolve. We’re fortunate enough to have very few tenants behind with their rent, but we also know the current economic climate could throw anyone’s finances off course. As the cost of living crisis bites, household budgets are getting squeezed, and rent arrears are more of a threat. It may never affect you, but if your tenants do stop paying their rent, you need to act quickly to prevent the situation from spiralling out of control. With that in mind, this week’s blog contains everything you need to protect yourself from the start, find solutions to financial hiccups, and recover what you’re owed. START BY PROTECTING YOURSELF The best way to prevent rent arrears from building up and causing you financial woe is to set your tenancies up correctly and securely. This includes: ● Proper referencing – we can’t stress how important this is, yet we still meet plenty of landlords who accepted a tenant without checking their status. Not to make light of it, but in the words of Julia Roberts in Pretty Woman: “Big mistake. Huge.” ● Face-to-face viewings – never rent to anyone you haven’t met in person or who hasn’t been inside your property. ● Rent guarantee insurance – this offers invaluable security right now for a relatively small monthly cost. Typical policies cover lost rent for 6 to 12 months, together with the legal fees involved in regaining possession. As long as you have satisfactory tenant references, cover is available for new and existing tenancies. For a deeper dive into keeping your income and rental property protected, take a look at our previous blog on what kinds of insurance a landlord should have . GETTING YOUR LATE RENT PAID It’s good practice to check your bank statements religiously on the first working day after the rent is due. A missed payment doesn’t automatically mean your tenant has gone rogue: it could be nothing more than a personal oversight, bank error, or short-term financial glitch. Nonetheless, it’s essential to act immediately and stop one month’s late rent from turning into two or more. Follow this simple three-step process to get your rent up to date asap: 1 Start with a gentle-but-firm reminder text or email asking your tenant to check with their bank if the payment has gone out, or if they know why the rent wasn’t paid. 2 Follow up with a phone call if you receive no response or rent within 24 hours, then with a formal letter if you’ve not heard back after several days. Usually, this works. 3 Make a plan – ideally, your tenant will get their rent up to date right away, but if they don’t have the funds right now, can you settle on a payment plan over a few months? Whether it’s a one-off thing or your tenant is prone to paying a few days late, knowing that you’re on the case can be all they need to pay on time and avoid the embarrassment of being chased up. DEALING WITH UNPAID ARREARS Tenants can fall into arrears for any number of reasons. A relationship break-up, losing their job, becoming ill or simply having trouble with the increased cost of living can quickly put anyone into financial difficulty. Although these conversations can be uncomfortable (a big reason why landlords use managing agents), the first step is to get total clarity on your tenant’s situation. A compassionate nudge around their finances could lead to a solution they may not see on their own. ● Ask your tenant if they’ve considered using a budget planner to identify any short-term cost savings (things like Netflix, gym memberships, coffees, and takeaways can all mount up, but they can also free up useful cash when suspended). ● Explore whether a member of your tenant’s family could step in with financial assistance (or even become a guarantor) if your tenant wants to stay. ● Encourage your tenant to speak to the Citizens Advice Bureau to see if they're entitled to financial support from the Government. If your tenant says they can’t afford to live at your property anymore, remember that you can use their security deposit to make up some or all of the unpaid rent. For tenants who don’t respond to your attempts to get in touch, it’s time to move on to the next step. GETTING YOUR PROPERTY BACK Sometimes you have no choice but to take back possession of your rental property. Perhaps your tenants need you to evict them so they can get local authority housing, or they could simply be refusing to pay what they owe. Depending on the circumstances, letting your tenants out of their contract might be the easiest route, so you can re-let your property and start earning income again. You’ll also create a path for your tenants to pay you back by moving somewhere cheaper or with family. Otherwise, if your property is in England, Wales or Northern Ireland, you could serve the following: ● a Section 8 notice after the arrears hit two months for rent paid monthly (or eight weeks for rent paid weekly), bearing in mind that the process can be over a year with the current court backlog; ● a Section 21 ‘no fault’ notice if the tenancy is beyond its original term, then seek accelerated possession (which doesn’t need a court hearing) if your tenants refuse to leave after the two-month notice period. In Scotland, there’s currently a limited ban on evictions , but you can still apply for an eviction order to enforce after the ban subsides. However, the ban doesn’t apply if: ● your tenant is six months or more in arrears ● you intend to move into or sell your rental property to alleviate financial hardship ● your tenant is no longer living there. Remember: if you do need to start legal proceedings, it’s vital to serve notice in the correct way to avoid being dismissed by the court and having to start again. RECOVERING UNPAID RENT FROM TENANTS WHO’VE LEFT Regaining possession of your rental property is one thing, but recouping any unpaid rent is a different process. Ideally, your tenants will start paying you back after they leave, but if that’s not the case and you wish to claim through the County Court, here are some things to note: ● You need your tenant’s new address to include on the claim form . If you don’t have it, you can apply to the court to serve papers at their work. ● At this point, the threat of a County Court Judgement (CCJ) can push tenants to pay you back and avoid a poor credit rating that will damage their chances of renting or buying a home for years. ● If you go to court and win, it doesn’t necessarily mean your tenant will have the money to pay you what they owe. ● You could then apply for an Attachment of Earnings Order to take the money out of their income, but the courts tend to set very low monthly payments. Given this lengthy legal obstacle course, it’ll probably come as no surprise that many landlords choose to simply move on without chasing unpaid rent. It’s far from ideal, but at least they have their property back and producing income. WHAT'S YOUR NEXT STEP? If you’d like some advice on getting your tenants back on track with their rent, or if you’re looking for a managing agent in Birmingham to take care of this sort of thing (and more!) for you, why not get in touch? Call us on 0121 427 4777 or email us at info@truemanestates.co.uk for some landlord love.

Winter-Wise Lettings: The Time Is Now to Get Your Rental Property Ready and Legal For Winter

by John Trueman • 12 October 2022
Winter is the time when most problems arise in rental properties. Emergency callouts abound, and insurance claims rocket, mostly from water or weather damage. While your policy might cover the costs, the inconvenience of midnight phone calls, stressed-out tenants and urgent repairs is something every landlord wants to avoid. Autumn is the perfect time to plan for the colder months, get ahead of the elements and give your property a seasonal MOT and fix any minor repairs before they become a major headache. Covering everything from your legal obligations, the checks to make at your property, and the conversations to have with your tenants, this week’s blog is a complete landlord’s guide to getting your rental property prepared and protected for winter. VISIT YOUR RENTAL PROPERTY The first step in making sure your rental property is ready for the rigours of winter is to go and see it. To get the most out of your visit, here are some guidelines for arranging, carrying out and following up on your inspection. ● Make an appointment with your tenants (they don’t necessarily need to be present). ● Ensure all safety certificates and service contracts are up to date. ● Check the inside and outside of your property thoroughly (more on that later). ● Identify any winter comfort measures and safety precautions your tenants need to be aware of. ● Confirm any advice in writing. Performing a pre-winter check-up now can save you a whole lot of drama later on. More than that, it’ll give you and your tenants peace of mind, knowing that your rental property will stay warm and dry, whatever the weather may bring. PROTECT AGAINST THE ELEMENTS Unsurprisingly given the British climate, most home insurance claims over winter are down to water finding its way in, either from weather damage at the time or simply that the property is another year older. Prevention is always cheaper and far less hassle than cure, so check the following vulnerable spots: ● gutters, down pipes, and drains for blockages from rubbish or fallen leaves (water needs to run freely to avoid overflowing and seeping into walls) ● roof coverings (including slipped tiles and slates, loose flashings and seals on asphalt) ● cracks or holes in render, bricks or mortar (from climbing plants or general ageing) ● window frames and woodwork (are the seals water and airtight, and is any wood or paintwork in need of repair?) ● boundary walls and fences for any rotting or loose posts and panels that might collapse in high winds ● chimneys (open fireplaces are about to get some serious use, so make sure the chimney is cleared and cleaned, and the cap is in place to stop rain coming down the stack) Having all this sorted now will boost the resilience of your rental property from the elements and minimise the potential for water damage and costly repairs. CHECK THE HOT WATER AND HEATING Getting a call from your tenants at an unearthly hour that there’s no hot water or the heating doesn’t work, or turning up for your spring inspection to find condensation dripping from mouldy ceilings, is hardly a landlord’s dream! The good news is that you can minimise the risk with a few pre-emptive checks. ● Ensure the boiler is serviced and has enough pressure (1 to 1.5 bar is normal, but refer to the manufacturer's handbook). ● Turn on the heating and feel the radiators to see if they're warm all over, or whether they need bleeding (get a key from somewhere like B&Q and show your tenants how to use it). ● Look at pipes under sinks, boilers and hot water tanks for signs of leaks or rust, and include the dishwasher and washing machine connections while you're there. ● Inspect bathroom extractor fans and ventilation sources, then speak to your tenants about preventing condensation (you can’t make them use the heating, but you can help them ventilate correctly, so they don’t end up with a repair bill). Fortunately, the days of frozen pipes are mostly behind us with modern insulation and installation methods. But, if your rental property has any exposed pipework that could be at risk of freezing (is any mounted on an outside wall?), wrap them in foam tubes or heat tape. LOOK AT SAFETY & SECURITY Whether your rental property is empty or occupied, it's most at risk from intruders during the winter months. Longer nights give burglars more opportunities to strike, both at vacant homes and from tenants being at work while it's dark. Even if your rental property is unfurnished, intruders still damage door locks, windows and permanent fittings when breaking in, or steal things like copper pipes. So it’s well worth carrying out some checks to ensure your property is safe and secure. ● Double-check that all window locks work and make sure your tenants know how to use them. ● Test the locks on sheds and garages - these are particularly vulnerable, so remind your tenants to be mindful of what they store there. ● Try the alarm, including the keypad and any movement sensors. ● Cut back any hedges that provide a hiding place. If you want to install some extra deterrents, consider motion-sensor lighting at the front, back and any side entrances, or a path of stone chippings that crunch underfoot to prevent a silent approach. FOLLOW THE LETTER OF THE LAW Landlords have a lot of legal obligations, and failing to meet them can have huge ramifications for your tenancy, from handling disputes to getting your property back. You are responsible for providing a home that is safe, secure and habitable, so now is the perfect time to ensure your rental property makes the grade before winter kicks in. Among your main look-out points are: ● gas and electrical safety with up-to-date certificates from qualified engineers ● having smoke alarms on every floor of living accommodation and testing at the start of each tenancy ● hot and cold water supply and adequate sanitation ● the structural integrity of the building ● ensuring sufficient natural light and ventilation ● maintaining and repairing the property, including appliances and fittings. As a managing agent, we need to stay on top of the ever-changing legislation to protect our landlord clients from falling foul of the law. If you’d like us to do the same for you, drop us a line at info@truemanestates.co.uk or call us on 0121 427 4777 to see how we can help. HOW WELL PREPARED IS YOUR RENTAL PROPERTY FOR WINTER? Autumn really is the best time of year to get your rental property ready for a smooth and event-free journey through the colder months. If you’re a landlord in Birmingham we'd love to show you how we take care of everything for you. Call us on 0121 427 4777 or email us at info@truemanestates.co.uk to tell us all about your property.

Rental Red Flags: How To Avoid Problem Tenancies And Create The Perfect Letting

by John Trueman • 12 October 2022
Nothing is more important than getting the right tenants for your rental property – because the choice you make will have a profound impact on your peace of mind and finances. Whenever we’re contacted by a landlord who’s been having problems at their property, there’s very often something that was missed or skipped before the tenancy started. A typical story is that things started well, everyone got along, and the landlord was pleased with their choice of new tenants. Then, at some point, something went wrong, and the landlord was left frustrated, disillusioned and out of pocket. So how can you tell if you’ll get respectful, responsible and reliable tenants before you hand over the keys? More than anything, it’s all about the setup, and this week we’ll take you through our tried and tested process, to avoid problem tenancies and create stable and long-term lettings. RUN A COMPATIBILITY CHECK FIRST The first step in creating the perfect letting is to minimise wasted viewings by checking that your property and whoever is enquiring about it are the right fit for each other. Some of the factfinding we undertake before booking a viewing includes asking potential tenants about: ● what they need in terms of space, rooms, garden, location, parking, and transport; ● their household setup (couples, singles, families, sharers) to be sure your property fits the bill; ● whether they have any children or pets (look at our previous blog for top tips on this); ● why they are moving, how long they plan to rent for, and whether they have a longer-term plan; ● where they work and who they work for (some employers have notoriously high staff turnover, while others have an excellent reputation for stability). You might feel uncomfortable asking so many questions, or pushing further if an answer is vague, but we speak from experience when we say it removes so many unnecessary appointments. In fact, the best tenants love having their time and property search taken so seriously. INSIST ON FACE-TO-FACE VIEWINGS Never rent your property to someone you haven't met. Regardless of anyone’s urgent timescale, and even if they’re moving from abroad, a face-to-face viewing is a priceless insight into someone's character and whether they actually like your property. Video viewings can be a useful first step for someone who can’t get there in person just yet, but don’t take your property off the market until you’ve personally shown them around. Here are some things to look out for on viewings: ● Do potential tenants offer to take their shoes off and ask before opening cupboards, particularly if your property is currently occupied? ● If you have family viewers, do they let their children run riot or manage them well? ● If someone gets delayed, do they let you know in advance, after they’re late, or only when you call them? Finally, listen to your sixth sense. After carrying out thousands of viewings, we know how to spot the really good tenants. If we have any doubts, we keep looking until we find the perfect match. DON’T SKIMP ON THE REFERENCING Once you've found a tenant you're happy with, don't ignore the referencing process. No matter how great you feel about someone, it's not the same as actually knowing that they can afford to rent your property and are financially stable. Here's our checklist of the references we take up and what we look for to identify the very best tenants. ● Landlord references are even more valuable if you can follow them up on the phone – an okay reference, rather than a glowing one, may hide a deeper story. ● Employer's references (or accounts for self-employed people) are essential to check income and work status. ● Bank statements not only confirm salaries; they also reveal spending habits and financial management. This helps you gauge whether renting your property will be comfortable for a tenant, or push them to their limit. ● Credit checks can deliver the odd surprise. Some tenants are genuinely unaware they have a CCJ (County Court Judgement), usually because they forgot to inform everyone when they moved. CCJs are often for small amounts related to phone bills or online shopping accounts, but they can give you an idea of someone's financial awareness. Just as you'd do your research when choosing a letting agent, thorough referencing for every tenant is time and money well spent. PREPARE A DETAILED INVENTORY A detailed inventory signed by the landlord and tenant is not only your protection in the event of a dispute, it also shows respect for your tenants by giving them an accurate record of your property’s condition when they move in. You can read all about creating watertight inventories in our previous blog, but as an absolute minimum, you should: ● prepare the inventory for signing at check-in, or put a condition in the tenancy agreement that your tenants have 7 days to question anything before the inventory is deemed as accepted; ● include EVERYTHING at your property, from the condition of kitchen and bathroom fittings to the state of the décor and right down to power sockets, light switches and doorknobs; ● take supporting photographs or videos for absolute clarity; ● use a third party like a letting agent or inventory clerk as impartial inventories carry more weight in the event of a dispute. Remember: it's a landlord's responsibility to prove any fault on the part of the tenants. Without clear before-and-after evidence you're likely to lose any dispute, so an inventory is a must-have for every tenancy. INSPECT YOUR PROPERTY REGULARLY Writing into your tenancy agreement that you’ll be carrying out mid-tenancy inspections shows that you’re serious about your property being looked after, and allows you or your agent to see that all is going well. Things to consider around mid-tenancy inspections include: ● an inspection in the first month with your tenants present to discuss any teething issues and uncertainties around how things work; ● carrying out future inspections at least once every six months (if your tenants are out, an inspection generally only takes between 15 and 30 minutes); ● checking for water stains, mildew, limescale and broken hinges and handles, along with testing smoke alarms and looking inside any appliances you supply. If you’d like to know more about how we carry out effective mid-tenancy inspections, take a look at our Rental Check-Ups blog for tons of expert tips. WHAT’S NEXT FOR YOU? Finding the very best tenants who are the perfect fit for your rental property is the special sauce in avoiding problem tenancies and creating stable lettings. It's also our speciality! If you're a landlord in Birmingham, we'd love to show you how we keep tenancies running smoothly at the rental properties we manage. Call us on 0121 427 4777 or email us at info@truemanestates.co.uk to see how we help our clients enjoy a profitable lettings business.
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